Tingo (TIOG) 10-Q 18 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 15, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	MICT, Inc.
Entity Central Index Key	0000854800
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-35850
Entity Incorporation State Country Code	DE
Entity Common Stock, Shares Outstanding		66,982,447

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 18,623	$ 3,154
Restricted cash		45
Trade accounts receivable, net	98
Short-term loan to related party Micronet Ltd., net		281
Inventories, net	1,769
Other current assets	747	937
Total current assets	21,237	4,417
Property and equipment, net	582	29
Long term deposit	3
Right of use assets	84
Goodwill	22,405
Intangible assets and others, net	18,205
Restricted cash escrow	477	477
Micronet Ltd. equity method investment		994
Total long-term assets	41,756	1,500
Total assets	62,993	5,917
LIABILITIES AND EQUITY
Short term bank credit and current portion of long term bank loans	1,139
Short term credit from others
Trade accounts payable	781
Other current liabilities	3,176	290
Total current liabilities	5,096	290
Long term loans from others		1,856
Lease liability	36
Deferred tax liabilities	4,463
Long term escrow	477	477
Accrued severance pay	140	50
Total long term liabilities	5,116	2,383
Stockholders’ Equity:
Common stock; $0.001 par value, 25,000,000 shares authorized, 59,855,175 shares issued and outstanding as of September 30, 2020 and 11,089,532 shares issued and outstanding as of December 31, 2019, respectively	60	11
Additional paid in capital	83,393	14,107
Accumulated other comprehensive (loss)	(277)	70
Accumulated loss	(32,533)	(16,974)
MICT, Inc. stockholders’ equity	50,781	3,244
Non-controlling interests	2,000
Total equity	52,781	3,244
Total liabilities and equity	62,993	5,917
Series A Convertible Preferred Stock
Stockholders’ Equity:
Preferred stock value	0	2
Additional paid in capital - preferred stock	138	6,028
Total equity		2
Series B Convertible Preferred Stock
Stockholders’ Equity:
Preferred stock value	0	0
Additional paid in capital - preferred stock
Total equity

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	59,855,175	11,089,532
Common stock, shares outstanding	59,855,175	11,089,532
Series A Convertible Preferred Stock
Convertible Preferred stock, par value	$ 0.001	$ 0.001
Convertible Preferred stock, shares authorized	0	2,386,363
Convertible Preferred stock, shares issued	0	2,386,363
Convertible Preferred stock, shares outstanding	0	2,386,363
Series B Convertible Preferred Stock
Convertible Preferred stock, par value	$ 0.001	$ 0.001
Convertible Preferred stock, shares authorized	0	0
Convertible Preferred stock, shares issued	0	0
Convertible Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues	$ 349		$ 349	$ 477
Cost of revenues	347		347	846
Gross profit (loss)	2		2	(369)
Operating expenses:
Research and development	230		230	261
Selling and marketing	69		69	198
General and administrative	4,899	501	6,337	2,161
Amortization of intangible assets	820		820	20
Total operating expenses	6,018	501	7,456	2,640
Loss from operations	(6,016)	(501)	(7,454)	(3,009)
Share in investee losses		(366)	(786)	(771)
Net profit from loss of control				299
Gain on previously held equity in Micronet			665
Other income	138		138
Financial expenses, net	(8,960)	(346)	(8,803)	(292)
loss before provision for income taxes	(14,838)	(1,213)	(16,240)	(3,773)
Provision for income taxes	(225)	3	(219)	(5)
Total net loss	(14,613)	(1,210)	(16,021)	(3,778)
Net loss attributable to non-controlling interests	(462)		(462)	(556)
Net loss attributable to MICT, Inc.	$ (14,151)	$ (1,210)	$ (15,559)	$ (3,222)
Loss per share attributable to MICT, Inc.
Basic and diluted loss per share	$ (0.61)	$ (0.11)	$ (1.03)	$ (0.30)
Weighted average common shares outstanding	22,832,683	11,009,532	15,048,644	10,583,496

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss)	$ (14,613)	$ (1,210)	$ (16,021)	$ (3,778)
Other comprehensive income (loss), net of tax:
Currency translation adjustment	(152)		(58)	(143)
Comprehensive income attributable to investment in Micronet Ltd.		58		58
Total comprehensive (loss)	(14,765)	(1,152)	(16,079)	(3,863)
Comprehensive (loss) attributable to non-controlling interests	(172)		(172)	(463)
Comprehensive (loss) attributable to MICT, Inc.	$ (14,593)	$ (1,152)	$ (15,907)	$ (3,400)

Statements of Changes in Equity

Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Series A Convertible Preferred Stock	Series B Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Non-controlling Interest	Total
Balance at Dec. 31, 2018			$ 9	$ 11,905			$ (12,757)	$ (117)	$ 1,964	$ 1,004
Balance, Shares at Dec. 31, 2018			9,342,115
Shares issued to service providers and employees				533						533
Shares issued to service providers and employees, shares			420,600
Stock based compensation				46						46
Comprehensive loss							(3,222)	(248)	(393)	(3,863)
Entering the control of a subsidiary				70					(70)
Loss of control of subsidiary								423	(1,501)	(1,078)
Issuance of shares, net			$ 2	1,346						1,348
Issuance of shares, net, shares			1,246,817
Issuance of shares, net- Series A Convertible Preferred Stock	$ 2			122	4,827					4,951
Issuance of shares, net- Series A Convertible Preferred Stock, shares	2,386,363
Balance at Sep. 30, 2019	$ 2		$ 11	14,022	4,827		(15,979)	58	0	2,941
Balance, Shares at Sep. 30, 2019	2,386,363		11,009,532
Balance at Jun. 30, 2019			$ 11	13,893			(14,769)	0	0	(865)
Balance, Shares at Jun. 30, 2019			11,009,532
Stock based compensation				7						7
Comprehensive loss							(1,210)	58		(1,152)
Issuance of shares, net- Series A Convertible Preferred Stock	$ 2			122	4,827					4,951
Issuance of shares, net- Series A Convertible Preferred Stock, shares	2,386,363
Balance at Sep. 30, 2019	$ 2		$ 11	14,022	4,827		(15,979)	58	0	2,941
Balance, Shares at Sep. 30, 2019	2,386,363		11,009,532
Balance at Dec. 31, 2019	$ 2		$ 11		6,028	14,107	(16,974)	70	0	3,244
Balance, Shares at Dec. 31, 2019	2,386,363		11,089,532
Shares issued to service providers and employees			$ 1			2,490				2,491
Shares issued to service providers and employees, shares			840,909
Exercising options for employees and consultants			$ 1			2,365				2,366
Exercising options for employees and consultants, shares			1,198,000
Stock based compensation						186				186
Issuance of warrants
Comprehensive loss							(15,559)	(347)		(15,906)
Entering the control of a subsidiary									2,000	2,000
Convertible note			$ 14			22,400				22,414
Convertible note, shares			13,636,364
GFH transaction			$ 23			32,026				32,049
GFH transaction, shares			22,727,273
YA Exercising warrants			$ 1			0				1
YA Exercising warrants, shares			584,920
Hardon Exercising warrants			$ 1			1,611				1,612
Hardon Exercising warrants, shares			1,596,362
Issuance of shares, net- Series A Convertible Preferred Stock	$ 1				409					410
Issuance of shares, net- Series A Convertible Preferred Stock, shares	795,455
Issuance of shares, net- Series B+A Convertible Preferred Stock	$ (3)	$ (2)	$ 8	(1,914)	(6,299)	8,209				(2)
Issuance of shares, net- Series B+A Convertible Preferred Stock, shares	(3,181,818)	(1,818,182)	8,181,818
Issuance of shares, net- Series B Convertible Preferred Stock		$ 2		1,914						1,916
Issuance of shares, net- Series B Convertible Preferred Stock, shares		1,818,182
Balance at Sep. 30, 2020			$ 60		138	83,393	(32,533)	(277)	2,000	52,781
Balance, Shares at Sep. 30, 2020			59,855,178
Balance at Jun. 30, 2020	$ 3	$ 2	$ 11	1,914	6,437	14,198	(18,382)	164	2,172	6,519
Balance, Shares at Jun. 30, 2020	3,181,818	1,818,182	11,107,714
Shares issued to service providers and employees			$ 1			2,468				2,469
Shares issued to service providers and employees, shares			822,727
Exercising options for employees and consultants						2,365				2,366
Exercising options for employees and consultants, shares			1,198,000
Stock based compensation						117				117
Issuance of warrants
Comprehensive loss							(14,151)	(441)		(14,592)
Entering the control of a subsidiary									(172)	(172)
Convertible note			$ 14			22,400				22,414
Convertible note, shares			13,636,364
GFH transaction			$ 23			22,400				22,414
GFH transaction, shares			22,727,273
YA Exercising warrants			$ 1			0				1
YA Exercising warrants, shares			584,920
Hardon Exercising warrants			$ 1			1,611				1,612
Hardon Exercising warrants, shares			1,596,362
Issuance of shares, net- Series B+A Convertible Preferred Stock	$ (3)	$ (2)	$ 8	(1,914)	(6,299)	8,209				(2)
Issuance of shares, net- Series B+A Convertible Preferred Stock, shares	(3,181,818)	(1,818,182)	8,181,818
Balance at Sep. 30, 2020			$ 60		$ 138	$ 83,393	$ (32,533)	$ (277)	$ 2,000	$ 52,781
Balance, Shares at Sep. 30, 2020			59,855,178

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continued operations	$ (16,021)	$ (3,778)
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on previously held equity interest in Micronet	(665)
Profit from loss of control		(299)
Share in investee losses	786	436
Impairment of equity method investment and change in fair value in loan to Micronet	(187)	335
Impairment of loan to Micronet Ltd.	(76)
Depreciation and amortization	890	85
Restricted cash	45
Change in deferred taxes	(205)
Accrued interest and exchange rate differences on bank loans	3	109
Accrued interest and exchange rate differences on loans from others	13	399
Stock-based compensation for employees and consultants	2,675	509
Decrease (increase) in trade accounts receivable, net	207	672
Decrease in inventories	83	348
Decrease in accrued severance pay, net	(5)	(6)
Increase in other accounts receivable	(907)	(292)
Increase in trade accounts payable	(412)	(394)
Finance cost related to the convertible notes conversion	8,877
Increase (Decrease) in other accounts payable	1,620	(52)
Net cash used in operating activities	(3,279)	(1,928)
CASH FLOWS FROM INVESTING ACTIVITIES:
Loan to Micronet Ltd.	(125)	(250)
Additional investment in Micronet Ltd.	(515)
Property and equipment	59	(57)
Consolidation of Micronet Ltd. (Appendix B)	268
Long Term Deposit	25
Consolidation of GFH I. (Appendix C)
Deconsolidation of Micronet Ltd. (Appendix A)		(608)
Net cash (used in) provided by investing activities	(288)	(915)
CASH FLOWS FROM FINANCING ACTIVITIES:
Exercise of options	2,366
Receipt of long term convertible loan from others		1,834
Exercise of warrants	1,612
Repayment of bank loans, net	(184)	(352)
Issuance of convertible preferred shares net	409
Receipt of short term bank loans	121
Issuance of convertible preferred shares and warrants net		4,829
Repayment on account of redemption	(15,900)
Payments on account of shares	15,900
payment received by convertible notes purchasers	14,797
issuance of warrants , net		122
Net cash provided by financing activities	19,121	6,433
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	15,554	3,590
Cash, Cash Equivalents and restricted cash at the beginning of the period	3,154	2,174
TRANSLATION ADJUSTMENT ON CASH AND CASH EQUIVALENTS	(85)	3
Cash, Cash Equivalents and restricted cash at end of the period	18,623	5,767
Amount paid during the period for:
Interest	25	172
Taxes	$ 22	$ 3

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jul. 02, 2020	Mar. 13, 2019	Sep. 10, 2020	Sep. 08, 2020	Jan. 21, 2020	Feb. 21, 2019	Feb. 24, 2019
Working capital other than cash							$ (2,301)
Finance lease							359
Accrued severance pay, net							60
Translation reserve							(423)
Micronet Ltd. investment in fair value							1,711
Non controlling interests							1,501
Net profit from loss of control							(299)
Cash							608
Net working capital (borrowing excluded)							(351)
Property and equipment							661
Intangible assets							2,475
Goodwill							2,618
Right of use assets							310
Other assets							26
Borrowings							(1,676)
Micronet Ltd. investment in fair value							(1,573)
Non-current liabilities							(558)
Accumulated other comprehensive income							(28)
Non controlling interests							(2,172)
Net cash provided by acquisition							268
Shares of its common stock			1,818,181	6,363,636
Yorkville Advisors Global, LLC [Member]
Conversion value						$ 250,000
Conversion price						$ 1
Acquisition of Intermediate, net of cash acquired:
Intangible assets							16,570
Goodwill							19,788
Non-current liabilities							$ (4,308)
Shares issued and outstanding							(23)
Additional paid in capital							$ (32,027)
Net cash provided by acquisition
Series A Convertible Preferred Stock | Yorkville Advisors Global, LLC [Member]
Shares of its common stock						250,000
Series A Debenture [Member]
Shares of its common stock		996,817
Conversion value		$ 1,000,000
Conversion price		$ 1.10
Series B Convertible Preferred Stock
Shares of its common stock					1,818,181
Conversion value					$ 2,000,000
Conversion price					$ 0.001
Conversion Agreement [Member]
Conversion price					$ 1.10
Consideration Note [Member]
Conversion value	$ 25,000,000
Conversion price	$ 1.10
Series A Preferred, on a 1-for-2 basis [Member]
Shares of its common stock				3,181,818
Conversion price				$ 0.001
Common stock, par value				$ 0.001
Series B Preferred, on a 1-for-1 basis [Member]
Shares of its common stock			1,818,181
Conversion price			$ 0.001
Common stock, par value			$ 0.001

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2020
Description of Business [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 — DESCRIPTION OF BUSINESS Overview MICT Inc., (" we Company Prior to the Merger, we operated primarily through our Israel-based subsidiary, Micronet. Micronet operates in the growing commercial MRM market. Micronet, through both its Israeli and U.S. operational offices, designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Micronet's vehicle portable tablets are designed to increase workforce productivity and enhance corporate efficiency by offering computing power and communication capabilities that provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage. Furthermore, users are able to manage the drivers in various aspects, such as: driver behavior, driver identification, reporting hours worked, customer/organization working procedures and protocols, route management and navigation based on tasks and time schedule. End users may also receive real time messages for various services, such as pickup and delivery, repair and maintenance, status reports, alerts, notices relating to the start and ending of work, digital forms, issuing and printing of invoices and payments. Through its SmartHub product, Micronet provides its consumers with services such as driver recognition, identifying and preventing driver fatigue, recognizing driver behavior, preventive maintenance, fuel efficiency and an advanced driver assistance system. In addition, Micronet provides third party telematics service providers, or TSPs, a platform to offer services such as "Hours of Service." Micronet previously commenced and continues to evaluate integration with other TSPs. Micronet is currently entering the video analytics device market by developing an all in-one video telematics device known as Micronet SmartCam. Micronet SmartCam is based on the powerful and flexible Android platform, and is expected to be a ruggedized, integrated, and ready-to-go smart camera supporting complete telematics features designed for in-vehicle use. Coupled with vehicle-connected interfaces, state of the art diagnostic capabilities, and two smart cameras, it offers video analytics and telematics services capabilities, addressing safety, vehicle health, and tracking needs of commercial fleets. MICT believes that Micronet SmartCam provides a versatile, advanced, and affordable mobile computing platform for a variety of fleet management and video analytics solutions. The powerful computing platform, coupled with the Android operating systems, allows its customers to run their applications or pick and choose a set of applications and services from the Micronet marketplace. Micronet's customers consist primarily of application service providers, or ASPs, solution providers specializing in the MRM market and potentially Original Equipment Manufacturer ("OEM") truck and vehicle manufacturers including as part of the aftermarket sales. These companies sell Micronet's products as part of their MRM systems and solutions. Currently, Micronet does not sell directly to end users. Micronet customers are generally MRM solution and service providers, ASP providers in the transportation market, including long haul, local fleets' student transportation (yellow busses) and fleet and field management systems for construction and heavy equipment. Micronet products are used by customers operating vehicle fleets around the world such as in Israel, Canada, USA, Europe and other countries. As of December 31, 2018, the Company held 49.89% of Micronet's issued and outstanding shares, and together with an irrevocable proxy in our benefit from Mr. David Lucatz, the Company's President and Chief Executive Officer, we held 50.07% of the voting interest in Micronet as of such date. On February 24, 2019, Micronet closed a public equity offering on the Tel Aviv Stock Exchange (the " TASE On June 10, 2020, the Company announced that MICT Telematics Ltd. will own, assuming that all of the ordinary shares offered in the tender offer were purchased, 45.53% of Micronet's issued and outstanding ordinary shares. Also on June 10, 2020, the Company further informed Micronet that, assuming that the full subscription of such tender offer is accepted, the Company intends to, but shall not be required to, participate in a public offering of Micronet's ordinary shares, pursuant to which the Company may purchase up to $900,000 of such shares. Subsequently, on June 23, 2020, the Company announced that, as a result of (i) the completion of the tender offer, in which 5,999,996 of Micronet's ordinary shares were purchased for aggregate proceeds of NIS 1,800,000 (or $515,000), and (ii) the closing of the public offering, in which the Company purchased 10,334,000 of Micronet's ordinary shares for total consideration of NIS 3,100,200 (or $887,000), As of September 30, 2020 the Company owns 53.39% of Micronet's outstanding ordinary shares. the company expects to continue to maintain a controlling interest in Micronet in the future. The consequences of COVID-19, when combined with other events or conditions over which we have little or no control, may create a material uncertainty as to Micronet's ability to continue as a going concern. The Company will continue to monitor the situation closely, but given the uncertainty, management cannot estimate the impact of the COVID-19 pandemic on the Company's financial statements or operations. In June 2019, the Company entered into a Securities Purchase Agreement with BNN, pursuant to which BNN agreed to purchase from the Company $2,000,000 of convertible notes (the " BNN Notes Series B Preferred Stock On June 4, 2019, the Company commenced an offering of its Series A Preferred Stock (the " Series A Preferred Stock Preferred Offering Series A Preferred Warrants On November 7, 2019, the Company entered into a Securities Purchase, with certain investors, pursuant to which, among other things, the Primary Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the Primary Purchase Agreement, to purchase from us 5% senior secured convertible debentures due during 2020 with an aggregate principal amount of approximately $15,900,000. The proceeds of $15,900,000 from the sale of the Primary Convertible Debentures were funded on January 21, 2020. Concurrently with entry into the Primary Purchase Agreement, the Company entered into a separate Securities Purchase Agreement and, together with the Primary Purchase Agreement, the Purchase Agreements, with certain investors , and, together with the Primary Purchasers, the , On April 21, 2020, MICT, Inc. entered into a series of note purchase agreements with certain investors identified therein pursuant to which, among other things, the Purchasers purchased on July 1, 2020 certain convertible notes with an aggregate principal amount of approximately $11.0 million. On July 8, 2020, the Company entered into an additional series of purchase agreements with certain other purchaser pursuant to which such purchasers purchased from the Company at such date convertible notes with an aggregate principal amount of approximately $4.0 million. Accordingly, at total, pursuant to the above, the Company has sold convertible notes with an aggregate principal amount of approximately $15.0 million. The Convertible Notes included terms allowing for a conversion into shares of common stock of the Company at a conversion price of $1.10 per share. The Convertible Notes are generally due two years from the date of issuance, except that certain convertible notes will be due five years from the date of issuance. The Company is obligated to pay interest to the Purchasers on the outstanding principal amount at the rate of 1.0% per annum, payable on each conversion date, in cash or, at the Company's option, in shares of common stock. Subject to approval of the Company's stockholders, the Convertible Notes shall be convertible into shares of common stock. Upon the occurrence of certain events, the Purchasers are permitted to require the Company to redeem the Convertible Notes, including any interest that has accrued thereunder, for cash. As of the date hereof and based on the terms included in the convertible notes, following receipt of the Company's stockholders, the Convertible Notes were converted into shares of common stock of the Company at a conversion price of $1.10 per share as set above. In July 2020, we completed the acquisition of Intermediate pursuant to the Merger Agreement. Intermediate is a financial technology company with a marketplace in China and in other areas of the world. Intermediate is in the process of building various platforms for business opportunities in various verticals and technology segments it can capitalize on, and it plans to continue to add the capabilities of such platforms through acquisition or license of technologies to support these efforts in the different market segments as more fully described below. By building secure, reliable and scalable platforms with high volume processing capability, Intermediate believes it is able to provide customized solutions that address the needs of a very diverse client base, each outstanding share of Intermediate was cancelled in exchange for a convertible promissory note in the principal amount of $25,000,000, which Convertible Note were converted into 22,727,273 shares of common stock of MICT at a conversion price of $1.10 per share,. Intermediate's management is seeking to secure material contracts in valuable market segments in China and has developed good opportunities, which will allow Intermediate to access the following market segments: stock trading, oil and gas trading, insurance brokerage and recyclable metal trading through its operating subsidiaries. On September 8, 2020, the Company and all of the holders of the Company's Series A Convertible Preferred Stock, par value $0.001 per share, entered into a series A Convertible Preferred Stock Exchange Agreements (each an Exchange Agreement and together, the "Exchange Agreements"), pursuant to which the Holders exchanged an aggregate of 3,181,818 shares of the Series A Preferred, on a 1-for-2 basis, for an aggregate of 6,363,636 shares of the Company's common stock, par value $0.001 per share . On September 10, 2020, the Company and the holder of the Company's Series B Convertible Preferred Stock, with a par value of $0.001 per share , entered into that certain Series B Convertible Preferred Stock Exchange Agreement, pursuant to which the Holder exchanged an aggregate of 1,818,181 shares of the Series B Preferred, on a 1-for-1 basis, for an aggregate of 1,818,181 shares of the Company's common stock, par value $0.001 per share. On September 13, 2020, the board of directors of MICT, appointed Arie Rand as Chief Financial Officer of the Company, effective September 14, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed, unaudited, consolidated financial statements and condensed footnotes have been prepared in accordance with the applicable rules and regulations of the SEC, regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by the accounting principles generally accepted in the United States of America, or U.S. GAAP, for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for fair statement of results for the interim periods presented have been included. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The consolidated balance sheet as of September 30, 2020 is derived from unaudited financial statements as of that date; and it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Furthermore, from February 24, 2019 until June 23, 2020, the Company accounted for its ownership in Micronet in accordance with the equity method; and therefore, the results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The Company's operations and business have experienced disruptions due to, among other things, the unprecedented conditions surrounding the spread of the COVID-19 virus throughout North America, Israel and the world. While the Company expects the COVID-19 pandemic to have an impact on its business operations and financial results, the extent of the impact on the Company's business, its corporate development objectives, its financial position and the value of and market for its common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States, Israel, or elsewhere, as well as the effectiveness of actions taken globally to contain and treat the disease. Notably, COVID-19 and measures implemented to reduce the spread of the virus have limited access to the Company's offices and have disrupted its normal interactions with certain of its accounting personnel, legal advisors, auditors and others. Additionally, the COVID-19 outbreak has adversely affected the global economy and financial markets, which may result in a long-term economic downturn that could negatively affect future performance. The extent to which COVID-19 will impact our business and our consolidated financial results in the future will depend on future developments related to the spread of COVID-19 which are highly uncertain and cannot be predicted at the time of the filing of this Quarterly Report on Form 10-Q. The consequences of COVID-19, when combined with other events or conditions over which we have little or no control, may create a material uncertainty as to Micronet's ability to continue as a going concern. The Company will continue to monitor the situation closely, but given the uncertainty, management cannot estimate the impact of the COVID-19 pandemic on the Company's financial statements or operations. As of the date of this Quarterly Report, COVID-19 and the resulting government actions enacted in China and elsewhere have not had a material adverse effect on GFH I financial reports; however, there can be no assurance that GFH I financial reports will not be affected in the future from COVID-19 or resulting government actions. Principles of Consolidation The accompanying financial statements are prepared in accordance with U.S. GAAP.

Loans from Others

Loans from Others	9 Months Ended
	Sep. 30, 2020
Loans from Others [Abstract]
LOANS FROM OTHERS	Note 3 — Loans from others On January 21, 2020, the Company entered into the Conversion Agreement with BNN pursuant to which BNN agreed to convert the outstanding BNN Note in the amount of $2,000,000 into 1,818,181 shares of the Company's Series B Preferred Stock.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	Note 4 — Stockholders' Equity On June 4, 2019, the Company commenced an offering of its Series A Preferred Stock (the "Series A Preferred Stock"), by entering into a securities purchase agreement, pursuant to which the Company sold, in multiple closings, 3,181,818 shares of Series A Preferred Stock (the "Preferred Offering"). The Series A Preferred Stock, convertible into up to 6,363,636 shares of common stock of the Company, was issued together with certain preferred warrants (the "Series A Preferred Warrants") to purchase up to 4,772,727 shares of common stock, for aggregate gross proceeds of $7,000,000 to the Company. On July 29, 2019, the Company completed the first closing in the Preferred Offering, pursuant to which it sold 2,386,363 shares of Series A Preferred Stock and 3,579,544 accompanying Series A Preferred Warrants for aggregate gross proceeds of $5,250,000. The Company paid an aggregate of $420,000 in fees with respect to this closing of the Preferred Offering. Additionally, in January 2020, the Company completed a second closing of the sale of Series A Convertible Preferred Stock, pursuant to which it sold 795,455 additional shares of Series A Preferred Stock and 1,193,183 accompanying Preferred Warrants to purchase up to 1,084,712 shares of the Company's common stock, for aggregate gross proceeds of $1,750,000. The Company paid an aggregate of $140,000 in fees with respect to this closing of the Preferred Offering. The Series A Preferred Stock was convertible into common stock at the option of each holder of Series A Preferred Stock at any time and from time to time, and was also convertible automatically upon the occurrence of certain events. The Company also had the option to redeem some or all of the Series A Preferred Stock, at any time and from time to time, beginning on December 31, 2019 subject to the satisfaction of certain conditions. The holders of Series A Preferred Stock voted together with the holders of common stock as a single class on as-converted basis, and the holders of Series A Preferred Stock holding a majority-in-interest of the Series A Preferred Stock were entitled to appoint an independent director to the Company's board of directors. The Preferred Securities Purchase Agreement provided for customary registration rights. The Series A Preferred Warrants have an exercise price of $1.01 (subject to customary adjustment in the event of future stock dividends, splits and the like) and are exercisable immediately, until the earlier of (i) two years from the date of issuance or (ii) the later of (a) 180 days after the closing by the Company of a change of control transaction, or (b) the company's next debt or equity financing of at least $20,000,000. Pursuant to the April 21, 2020, and the July 8, 2020 Agreements entered by MICT with various purchasers for the sale of certain convertible notes as described in the Description of Business above, MICT sold convertible notes with an aggregate total principal amount of approximately $15.0 million under such terms as described hereinabove. Based on the terms included in the convertible notes, following receipt of the Company's stockholders in September 2020, the Convertible Notes were converted into 13,636,363 shares of common stock of the Company at a conversion price of $1.10 per share as set above. On July 1, 2020, MICT completed its acquisition (the "Acquisition") of GFH Intermediate Holdings Ltd. ("GFHI"), pursuant to the previously announced Agreement and Plan of Merger entered into on November 7, 2019 by and between MICT, GFHI, Global Fintech Holding Ltd. ("GFH"), a British Virgin Islands company and the sole shareholder of GFHI, and MICT Merger Subsidiary Inc., a British Virgin Islands company and a wholly owned subsidiary of MICT ("Merger Sub"), as amended and restated on April 15, 2020 (the "Restated Merger Agreement"). As of the date hereof pursuant to the Acquisition the company issued to GFH 22,727,272 shares of common stock reflecting a price of $1.10 per each MICT share. On September 8, 2020, the Company and all of the holders (the "Holders") of the Company's Series A Convertible Preferred Stock, par value $0.001 per share (the "Series A Preferred"), entered into a series of Series A Convertible Preferred Stock Exchange Agreements (each an Exchange Agreement and together, the "Exchange Agreements"), pursuant to which the Holders exchanged an aggregate of 3,181,818 shares of the Series A Preferred, on a 1-for-2 basis, for an aggregate of 6,363,636 shares of the Company's common stock, par value $0.001 per share (the "Common Stock"). On September 10, 2020, the Company and the holder (the "Holder") of the Company's Series B Convertible Preferred Stock, with a par value of $0.001 per share (the "Series B Preferred"), entered into that certain Series B Convertible Preferred Stock Exchange Agreement (the "Exchange Agreement") in the form attached hereto as Exhibit 10.1, pursuant to which the Holder exchanged an aggregate of 1,818,181 shares of the Series B Preferred, on a 1-for-1 basis, for an aggregate of 1,818,181 shares of the Company's common stock, par value $0.001 per share (the "Common Stock").

Loss of Control of Subsidiary

Loss of Control of Subsidiary	9 Months Ended
	Sep. 30, 2020
Loss of Control of Subsidiary [Abstract]
LOSS OF CONTROL OF SUBSIDIARY	NOTE 5 — LOSS OF CONTROL OF SUBSIDIARY As of December 31, 2018, we held 49.89% of Micronet’s issued and outstanding shares, and together with an irrevocable proxy in our benefit from Mr. David Lucatz, our President and Chief Executive Officer, we held 50.07% of the voting interest in Micronet as of such date. On February 24, 2019, Micronet closed a public equity offering on the TASE. As a result of Micronet’s offering, our ownership interest in Micronet was diluted from 49.89% to 33.88%. On September 5, 2019, Micronet closed a public equity offering on the TASE. As a result, our ownership interest in Micronet was diluted from 33.88% to 30.48%. The initial decrease in the Company’s voting interest in Micronet resulted in the loss of control of Micronet. As a result, commencing on February 24, 2019, the Company no longer accounted for its ownership in Micronet in its financial statements. Commencing on February 24, 2019, the Company began to account for its ownership in Micronet in accordance with the equity method. The method used for determining fair value of the investment in Micronet was based on a quoted market price on the TASE.

Gain of Control of Subsidiary-

Gain of Control of Subsidiary- Micronet Acquisition	9 Months Ended
	Sep. 30, 2020
Gain Of Control Of Subsidiary- Micronet Acquisition
GAIN OF CONTROL OF SUBSIDIARY- MICRONET ACQUISITION	NOTE 6 — GAIN OF CONTROL OF SUBSIDIARY- Micronet Acquisition On June 23, 2020, Micronet completed the special tender offer (the " Tender Offer Also on June 23, 2020, MICT purchased an additional 10,334,000 shares of Micronet's Ordinary Shares in the aggregate amount of NIS 3,100,000 (or $887,000), which brought MICT's ownership interest up to 53.39% as of September 30, 2020. Accordingly, MICT obtained voting control over Micronet and, as a result, MICT applied purchase accounting (see the table below) and began to consolidate Micronet beginning on such date. MICT recognized a $665,000 gain on previously held equity in Micronet. There are material uncertainties related to events or conditions such as: (i) the effects of COVID-19 on Micronet's overall business (ii) recent accumulated losses, (iii) historical working capital deficiencies, (iv) the significant decrease in demand for the company's products, which results in a delay in the receipt of new orders and, consequently, a lack of sufficient backlog, and (v) a significant slowdown in the business activities of the global economy. The above reasons, among others, create a material uncertainty and cast substantial doubt upon Micronet's ability to continue as a going concern. Micronet's income and net loss as presented if the Company's acquisition date had occurred at the beginning of the annual reporting period Nine months ended Three months ended 2020 2020 Revenues $ 1,438 $ 349 Net loss $ (3,448 ) (905 ) Management engaged a third-party valuation firm to assist them with the valuation of the intangible assets that are detailed in the schedule below. Purchased identifiable intangible assets are amortized on a straight-line basis over their respective useful lives. The table set forth below summarizes the estimates of the fair value of assets acquired and liabilities assumed and resulting gain on bargain purchase. In addition, the following table summarizes the allocation of the preliminary purchase price as of the acquisition date: Micronet Ltd. Purchase Price Allocation (USD In Thousands) Total cash consideration (1) 887 Total Purchase Consideration $ 887 Less: Debt-free net working capital, (2) $ 788 Property and equipment (2) 661 Right of use assets (2) 310 Other assets (2) 26 Borrowings (2) (1,675 ) Severance payable (2) (95 ) Lease liabilities (2) (101 ) Intangible assets - trade name/ trademarks 270 Intangible assets - developed technology 1,580 Intangible assets - customer relationship 410 Intangible assets - ground 215 Deferred Tax liability (362 ) Fair value of net assets acquired $ 2,027 Noncontrolling interest (2,172 ) Gain on equity interest (665 ) Equity investment (921 ) Change in investment (3,758 ) Goodwill value $ 2,618 (1) Cash paid at the closing of the Micronet public offering. (2) Book value used as a proxy for fair value.

Loan to Micronet Ltd.

Loan to Micronet Ltd.	9 Months Ended
	Sep. 30, 2020
Loan to Micronet Ltd. [Abstract]
LOAN TO MICRONET LTD.	NOTE 7 — LOAN TO MICRONET LTD. On September 19, 2019, MICT Telematics entered into a loan agreement with Micronet, pursuant to which MICT Telematics loaned Micronet $250,000 (the " First Loan In view of Micronet's working capital needs, on November 18, 2019, the Company entered into an additional loan agreement with Micronet for the loan of $125,000 (the " Second Loan On November 13, 2019, the Company and Micronet executed a convertible loan agreement pursuant to which the Company agreed to loan to Micronet $500,000 in the aggregate (the " Convertible Loan Convertible Loan Warrant On January 1, 2020, the Convertible Loan transaction was approved at a general meeting of the Micronet shareholders and as a result, the Convertible Loan and the transactions contemplated thereby entered into effect. At such time, the First Loan and Second Loan were repaid to us and the Convertible Loan was provided. On August 13, 2020, MICT Telematics extended to Micronet an additional loan in the aggregate amount of $175,000 (the " Third Loan Loan Sum

GFH Intermediate Holdings Ltd (

GFH Intermediate Holdings Ltd (“GFHI”) Acquisition	9 Months Ended
	Sep. 30, 2020
Loan to Micronet Ltd. [Abstract]
GFH INTERMEDIATE HOLDINGS LTD (“GFHI”) ACQUISITION	NOTE 8 — GFH Intermediate Holdings Ltd ("GFHI") Acquisition On July 1, 2020, MICT completed its acquisition of GFH Intermediate Holdings Ltd. pursuant to the previously announced Agreement and Plan of Merger entered into on November 7, 2019 by and between MICT, Micronet, GFHI, Global Fintech Holding Ltd, a British Virgin Islands company and the sole shareholder of GFHI, and MICT Merger Subsidiary Inc., a British Virgin Islands company and a wholly owned subsidiary of MICT, as amended and restated on April 15, 2020. As described in the Restated Merger Agreement, upon consummation of the Acquisition, the outstanding share of GFHI was cancelled in exchange for a convertible promissory note in the principal amount of $25,000,000 issued to GFH by MICT, which Consideration Note has been converted into 22,727,273 shares of common stock of MICT at a conversion price of $1.10 per share. Management engaged a third-party valuation firm to assist them with the valuation of the intangible assets that are detailed in the schedule below. As of the date of this Quarterly Report, COVID-19 and the resulting government actions enacted in China and elsewhere have not had a material adverse effect on GFH I financial reports; however, there can be no assurance that GFH I financial reports will not be affected in the future from COVID-19 or resulting government actions. Purchased identifiable intangible assets are amortized on a straight-line basis over their respective useful lives. The table set forth below summarizes the estimates of the fair value of assets acquired and liabilities assumed and resulting gain on bargain purchase. In addition, the following table summarizes the allocation of the preliminary purchase price as of the acquisition date: GFH Intermediate Holdings LTD, Purchase Price Allocation (USD In Thousands) Total share consideration (1) 32,050 Total Purchase Consideration $ 32,050 Less: Intangible assets - trade name/ trademarks 580 Intangible assets - developed technology 11,490 Intangible assets - Customer database (2) 4,500 Deferred Tax liability (3) (4,308 ) Fair value of net assets acquired $ 12,262 Goodwill value (4) $ 19,788 (1) The purchase consideration represented the fair value of the Convertible Promissory Notes that were converted into common stock of MICT. (2) The Customer database value is based on the cost to recreate, as indicated by Management. (3) Represents the income tax effect of the difference between the accounting and income tax bases of the identified intangible assets, using an assumed statutory income tax rate of 26%. (4) The goodwill is not deductible for tax purposes. GFHI's income and net loss as presented if the Company's acquisition date had occurred at the beginning of the annual reporting period Nine months Three months 2020 2020 Revenues $ - $ - Net loss $ (136 ) (136 )

Segments

Segments	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENTS	NOTE 10 — SUBSEQUENT EVENTS On September 13, 2020, the board of directors of MICT, Inc., a Delaware corporation (the " Company Israel Finance MICT Telematics Ltd. (" MICT Telematics Employment Agreement In October 2020, MICT appointed Mr. Richard Abrahams as the Chief Executive Officer of Intermediate's stock trading and wealth management business. MICT, Inc previously announced on October 2, 2020 that its indirect wholly-owned subsidiary BI Intermediate ( Hong Kong BI Intermediate Strategic Agreement Huapei (SFC) On October 11, 2020, Micronet closed a public equity offering on the Tel Aviv Stock Exchange (the "TASE") , in which the Company purchased 520,600 of Micronet's ordinary shares and 416,480 of Micronet's stock options convertible into 416,480 Micronet ordinary shares (at a conversion price of NIS 3.5 per share), for total consideration of NIS 4,961,202 (or $1,417,486). Following the Micronet's offering, the purchase of share and the exercise of our stock options, our ownership interest in Micronet was diluted from 53.39% to 50.32% of the Micronet outstanding share capital. On November 2, 2020, MICT, Inc entered into a Securities Purchase Agreement with certain investors for the purpose of raising $25.0 million in gross proceeds for the Company (the "Offering"). Pursuant to the terms of the Purchase Agreement, the Company agreed to sell, in a registered direct offering, an aggregate of 10,000,000 units, with each Unit consisting of one share of the Company's common stock, par value $0.001 per share, and one warrant to purchase 0.8 of one share of Common Stock, at a purchase price of $2.50 per Unit. The Warrants are exercisable six months after the date of issuance at an exercise price of $3.12 per share and will expire five years following the date the Warrants become exercisable. The closing of the sales of the Units pursuant to the Purchase Agreement occurred on November 4, 2020. A.G.P./Alliance Global Partners acted as the exclusive placement agent (the "Placement Agent") for the Company, on a "reasonable best efforts" basis, in connection with the Offering. Pursuant to that certain Placement Agency Agreement, dated as of November 2, 2020, by and between the Company and the Placement Agent (the "Placement Agency Agreement"), the Placement Agent will be entitled to a cash fee equal to 7.0% of the gross proceeds from the placement of the total amount of Units sold by the Placement Agent and 3.5% of the gross proceeds from the placement of the total amount of Units sold in the offering, plus a non-accountable expense allowance in an amount equal to 1% of the aggregate gross proceeds of the Offering. On November 2, 2020, Intermediate, through an operating subsidiary, launched its insurance platform. On November 3, 2020, the Company entered into a settlement and release agreement with Maxim Group LLC, or Maxim, pursuant to which the Company and Maxim agreed to release one another from any and all claims arising out of that certain advisory agreement entered into by and between Maxim and BNN Technology PLC on February 22, 2018. In consideration therefor, as of today the Company was issued to Maxim $500,000 of Common Stock and to file a resale registration with respect to such shares.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 — SUBSEQUENT EVENTS In October 2020, MICT appointed Mr. Richard Abrahams as the Chief Executive Officer of Intermediate's stock trading and wealth management business. MICT, Inc previously announced on October 2, 2020 that its indirect wholly-owned subsidiary BI Intermediate ( Hong Kong BI Intermediate Strategic Agreement Huapei (SFC) On October 11, 2020, Micronet closed a public equity offering on the Tel Aviv Stock Exchange (the "TASE") , in which the Company purchased 520,600 of Micronet's ordinary shares and 416,480 of Micronet's stock options convertible into 416,480 Micronet ordinary shares (at a conversion price of NIS 3.5 per share), for total consideration of NIS 4,961,202 (or $1,417,486). Following the Micronet's offering, the purchase of share and the exercise of our stock options, our ownership interest in Micronet was diluted from 53.39% to 50.32% of the Micronet outstanding share capital. On November 2, 2020, MICT, Inc entered into a Securities Purchase Agreement with certain investors for the purpose of raising $25.0 million in gross proceeds for the Company (the "Offering"). Pursuant to the terms of the Purchase Agreement, the Company agreed to sell, in a registered direct offering, an aggregate of 10,000,000 units, with each Unit consisting of one share of the Company's common stock, par value $0.001 per share, and one warrant to purchase 0.8 of one share of Common Stock, at a purchase price of $2.50 per Unit. The Warrants are exercisable six months after the date of issuance at an exercise price of $3.12 per share and will expire five years following the date the Warrants become exercisable. The closing of the sale of Units pursuant to the Securities Purchase Agreement occurred on November 4, 2020. As of the date hereof, $22.325 million in gross proceeds out of the Offering were provided to the Company and the remaining additional $2.675 million of proceeds were wired to the Company's wholly owned indirect subsidiary, Bokefa Petroleum and Gas Co Ltd. ("Bokefa"), in the Peoples Republic of China. The Offering Proceeds that were wired to Bokefa, are currently subject to China's State Administration of Foreign Exchange's ("SAFE") Circular on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents' Offshore Investment and Financing and Roundtrip Investment Through Special Purpose Vehicles, or SAFE Circular 37. Following the clearance of SAFE Circular 37, such proceeds will be deposited in the Bokefa account. The gross proceeds were subject to certain issuance costs and related expenses, including U.S. Placement Agent's fees of 7.0% of the public offering price on $15.0 million, U.S. Placement Agents fees of 3.5% on $10 million, non-U.S. broker fees of 6.5% on $10 million and a non-accountable expense allowance of 1% of the public offering price to the U.S. Placement Agent as well as additional expenses pay to professionals in connection with the Offering. A.G.P./Alliance Global Partners acted as the exclusive placement agent (the "Placement Agent") for the Company, on a "reasonable best efforts" basis, in connection with the Offering. Pursuant to that certain Placement Agency Agreement, dated as of November 2, 2020, by and between the Company and the Placement Agent (the "Placement Agency Agreement"), the Placement Agent will be entitled to a cash fee equal to 7.0% of the gross proceeds from the placement of the total amount of Units sold by the Placement Agent and 3.5% of the gross proceeds from the placement of the total amount of Units sold in the offering, plus a non-accountable expense allowance in an amount equal to 1% of the aggregate gross proceeds of the Offering. On November 2, 2020, Intermediate, through an operating subsidiary, launched its insurance platform. On November 3, 2020, the Company entered into a settlement and release agreement with Maxim Group LLC, or Maxim, pursuant to which the Company and Maxim agreed to release one another from any and all claims arising out of that certain advisory agreement entered into by and between Maxim and BNN Technology PLC on February 22, 2018. In consideration therefor, as of today the Company was issued to Maxim $500,000 of Common Stock and to file a resale registration with respect to such shares.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed, unaudited, consolidated financial statements and condensed footnotes have been prepared in accordance with the applicable rules and regulations of the SEC, regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by the accounting principles generally accepted in the United States of America, or U.S. GAAP, for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for fair statement of results for the interim periods presented have been included. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The consolidated balance sheet as of September 30, 2020 is derived from unaudited financial statements as of that date; and it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Furthermore, from February 24, 2019 until June 23, 2020, the Company accounted for its ownership in Micronet in accordance with the equity method; and therefore, the results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The Company's operations and business have experienced disruptions due to, among other things, the unprecedented conditions surrounding the spread of the COVID-19 virus throughout North America, Israel and the world. While the Company expects the COVID-19 pandemic to have an impact on its business operations and financial results, the extent of the impact on the Company's business, its corporate development objectives, its financial position and the value of and market for its common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States, Israel, or elsewhere, as well as the effectiveness of actions taken globally to contain and treat the disease. Notably, COVID-19 and measures implemented to reduce the spread of the virus have limited access to the Company's offices and have disrupted its normal interactions with certain of its accounting personnel, legal advisors, auditors and others. Additionally, the COVID-19 outbreak has adversely affected the global economy and financial markets, which may result in a long-term economic downturn that could negatively affect future performance. The extent to which COVID-19 will impact our business and our consolidated financial results in the future will depend on future developments related to the spread of COVID-19 which are highly uncertain and cannot be predicted at the time of the filing of this Quarterly Report on Form 10-Q. The consequences of COVID-19, when combined with other events or conditions over which we have little or no control, may create a material uncertainty as to Micronet's ability to continue as a going concern. The Company will continue to monitor the situation closely, but given the uncertainty, management cannot estimate the impact of the COVID-19 pandemic on the Company's financial statements or operations. As of the date of this Quarterly Report, COVID-19 and the resulting government actions enacted in China and elsewhere have not had a material adverse effect on GFH I financial reports; however, there can be no assurance that GFH I financial reports will not be affected in the future from COVID-19 or resulting government actions.
Principles of Consolidation	Principles of Consolidation The accompanying financial statements are prepared in accordance with U.S. GAAP.

Gain of Control of Subsidiary_2

Gain of Control of Subsidiary- Micronet Acquisition (Tables)	9 Months Ended
	Sep. 30, 2020
Gain Of Control Of Subsidiary- Micronet Acquisition
Schedule of discontinued operation	Nine months ended Three months ended 2020 2020 Revenues $ 1,438 $ 349 Net loss $ (3,448 ) (905 )
Schedule of purchase price of acquisition	Total cash consideration (1) 887 Total Purchase Consideration $ 887 Less: Debt-free net working capital, (2) $ 788 Property and equipment (2) 661 Right of use assets (2) 310 Other assets (2) 26 Borrowings (2) (1,675 ) Severance payable (2) (95 ) Lease liabilities (2) (101 ) Intangible assets - trade name/ trademarks 270 Intangible assets - developed technology 1,580 Intangible assets - customer relationship 410 Intangible assets - ground 215 Deferred Tax liability (362 ) Fair value of net assets acquired $ 2,027 Noncontrolling interest (2,172 ) Gain on equity interest (665 ) Equity investment (921 ) Change in investment (3,758 ) Goodwill value $ 2,618 (1) Cash paid at the closing of the Micronet public offering. (2) Book value used as a proxy for fair value.

GFH Intermediate Holdings Ltd_2

GFH Intermediate Holdings Ltd (“GFHI”) Acquisition (Tables)	9 Months Ended
	Sep. 30, 2020
Loan to Micronet Ltd. [Abstract]
Schedule of allocation of the preliminary purchase price	Total share consideration (1) 32,050 Total Purchase Consideration $ 32,050 Less: Intangible assets - trade name/ trademarks 580 Intangible assets - developed technology 11,490 Intangible assets - Customer database (2) 4,500 Deferred Tax liability (3) (4,308 ) Fair value of net assets acquired $ 12,262 Goodwill value (4) $ 19,788 (1) The purchase consideration represented the fair value of the Convertible Promissory Notes that were converted into common stock of MICT. (2) The Customer database value is based on the cost to recreate, as indicated by Management. (3) Represents the income tax effect of the difference between the accounting and income tax bases of the identified intangible assets, using an assumed statutory income tax rate of 26%. (4) The goodwill is not deductible for tax purposes.
Schedule of GFHI's income and net loss	Nine months Three months 2020 2020 Revenues $ - $ - Net loss $ (136 ) (136 )

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of inancial performance of our operating segments	Nine months ended September 30, 2020 Verticals and technology Mobile resource management Consolidated Revenues from external customers $ - $ 349 $ 349 Segment operating loss (869 )(1) (1,118 )(2) (1,987 ) Non allocated expenses (5,816 ) Finance expenses and other (8,786 ) Consolidated loss before provision for income taxes $ (16,240 ) (1) Includes $733 of intangible assets amortization, derived from GFHI. acquisitions. (2) Includes $103 of intangible assets amortization, derived from Micronet. The following table summarizes the financial statements of our BS segments: As of September 30, 2020 Verticals and technology Mobile resource management Consolidated Assets related to segments $ 35,896 (3) $ 8,131 (4) $ 44,027 Non allocated Assets 18,966 Liabilities related to segments (4,528 )(5) (4,455 )(6) (8,983 ) Non allocated liabilities (1,229 ) Total Equity $ 52,781 (3) Includes $14,660 of intangible assets and $19,788 goodwill, derived from GFHI's acquisition. (4) Includes $1,765 of intangible assets and $2,617 goodwill, derived from Micronet's consolidation. (5) Includes $4,118 of deferred tax liability, derived from GFHI acquisition. (6) Includes $345 of deferred tax liability, derived from Micronet consolidation.

Description of Business (Detail

Description of Business (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 10, 2020	Sep. 08, 2020	Jul. 08, 2020	Jun. 23, 2020	Apr. 21, 2020	Jun. 04, 2019	Jun. 04, 2019	Jul. 30, 2020	Jul. 03, 2020	Jan. 31, 2020	Nov. 07, 2019	Jul. 29, 2019	Jun. 30, 2019	Feb. 28, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 10, 2020	Jan. 21, 2020	Dec. 31, 2019	Sep. 05, 2019	Feb. 24, 2019	Dec. 31, 2018
Description of Business (Textual)
Purchased an additional shares								22,727,273	22,727,273
Share purchase agreement, description				The Company announced that, as a result of (i) the completion of the tender offer, in which 5,999,996 of Micronet’s ordinary shares were purchased for aggregate proceeds of NIS 1,800,000 (or $515,000), and (ii) the closing of the public offering, in which the Company purchased 10,334,000 of Micronet’s ordinary shares for total consideration of NIS 3,100,200 (or $887,000), As of September 30, 2020 the Company owns 53.39% of Micronet’s outstanding ordinary shares.
Losses															$ (14,151)	$ (1,210)	$ (15,559)	$ (3,222)
Net gain (loss) from deconsolidation of Micronet Ltd.														$ 299
Total comprehensive loss															(14,765)	$ (1,152)	(16,079)	$ (3,863)
Pay off all to the bank loans																	15,900
Voting interest																								50.07%
Percentage of shares issued and outstanding																			45.53%					49.89%
Outstanding bank loans															1,139		1,139
Sale of stock issued										795,455
Purchase amount of convertible notes from company			$ 4,000		$ 11,000
Preferred Stock stated value per share													$ 0.001
Sale of stock price per share			$ 1.10					$ 1.10	$ 1.10
Aggregate amount
Conversion of preferred stock						6,363,636	6,363,636
Aggregate gross proceeds							$ 7,000					$ 5,250			$ 22,414		$ 22,414
Accrued interest, percentage			1.00%
Outstanding convertible note amount			$ 15,000					$ 25,000					$ 2,000,000							$ 2,000
Outstanding convertible share													1,818,181							1,818,181
Micronet's Ordinary Shares																			$ 900
Primary purchase agreement, description											The Company entered into a Securities Purchase, with certain investors, pursuant to which, among other things, the Primary Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the Primary Purchase Agreement, to purchase from us 5% senior secured convertible debentures due during 2020 with an aggregate principal amount of approximately $15,900,000. The proceeds of $15,900,000 from the sale of the Primary Convertible Debentures were funded on January 21, 2020. Concurrently with entry into the Primary Purchase Agreement, the Company entered into a separate Securities Purchase Agreement and, together with the Primary Purchase Agreement, the Purchase Agreements, with certain investors , and, together with the Primary Purchasers, the , pursuant to which, among other things, the Non-Primary Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the Non-Primary Purchase Agreement, to purchase from us 5% senior secured convertible debentures due during , and, together with the Primary Convertible Debentures, the , with an aggregate principal amount of $9,000,000, together with the Primary Convertible Debenture Offering, the . The Convertible Debentures were convertible into our shares of our common stock at a conversion price of $1.41 per share. The Primary Purchasers exercised their right to an optional redemption pursuant to Section 6(b) of each Primary Convertible Debenture and declared the occurrence and continuance of an event of default, each of which accelerated the Company’s obligation to repay all outstanding balances under the Primary Convertible Debentures . On March 16, 2020, the Outstanding Principle was transferred from the Company to the Purchasers. As a result, the Primary Purchase Agreement was terminated.
Note purchase agreement, description													The Company entered into a Securities Purchase Agreement with BNN, pursuant to which BNN agreed to purchase from the Company $2,000,000 of convertible notes (the "BNN Notes"), which were issued on July 31, 2019. The BNN Notes, which were initially convertible into up to 2,727,272 shares of common stock, were sold together with certain common stock purchase warrants to purchase up to 2,727,272 shares of common stock.
Series B Convertible Preferred Stock
Description of Business (Textual)
Preferred Stock stated value per share													$ 1.10		$ 0.001		$ 0.001				$ 0.001
Aggregate gross proceeds
Preferred stock exchange agreements, description	The Company and the holder of the Company’s Series B Convertible Preferred Stock, with a par value of $0.001 per share , entered into that certain Series B Convertible Preferred Stock Exchange Agreement in the form attached hereto as Exhibit 10.1, pursuant to which the Holder exchanged an aggregate of 1,818,181 shares of the Series B Preferred, on a 1-for-1 basis, for an aggregate of 1,818,181 shares of the Company’s common stock, par value $0.001 per share.
Series A Convertible Preferred Stock
Description of Business (Textual)
Share purchase agreement, description						The Company commenced an offering of its Series A Preferred Stock (the "Series A Preferred Stock"), by entering into a securities purchase agreement, pursuant to which the Company sold, in multiple closings, 3,181,818 shares of Series A Preferred Stock (the "Preferred Offering"). The Series A Preferred Stock, convertible into up to 6,363,636 shares of common stock of the Company, was issued together with certain preferred warrants (the "Series A Preferred Warrants") to purchase up to 4,772,727 shares of common stock, for aggregate gross proceeds of $7,000,000 to the Company.
Sale of stock issued							3,181,818			1,193,183
Preferred Stock stated value per share															$ 0.001		$ 0.001				$ 0.001
Sale of stock price per share		$ 0.001
Aggregate gross proceeds										$ 1,750
Preferred stock exchange agreements, description		Pursuant to which the Holders exchanged an aggregate of 3,181,818 shares of the Series A Preferred, on a 1-for-2 basis, for an aggregate of 6,363,636 shares of the Company’s common stock, par value $0.001 per share.
Maximum [Member]
Description of Business (Textual)
Ownership interest in Micronet, diluted																						33.88%	49.89%
Minimum [Member]
Description of Business (Textual)
Ownership interest in Micronet, diluted																						30.48%	33.88%

Loans from Others (Details)

Loans from Others (Details) - USD ($) $ in Thousands	Jul. 08, 2020	Apr. 21, 2020	Jul. 30, 2020	Jan. 21, 2020	Jun. 30, 2019
Loans from Others (Textual)
Outstanding BNN amount	$ 15,000		$ 25,000	$ 2,000	$ 2,000,000
Outstanding convertible share				1,818,181	1,818,181
Purchase amount of convertible notes	$ 4,000	$ 11,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands

Sep. 10, 2020

Sep. 08, 2020

Jul. 08, 2020

Jul. 03, 2020

Jun. 04, 2019

Jan. 31, 2020

Jul. 29, 2019

Sep. 30, 2020

Sep. 30, 2020

Jul. 30, 2020

Jan. 21, 2020

Jun. 30, 2019

Stockholders' Equity (Textual)

Sale of stock

795,455

Stated value of per share

$ 1.10

$ 1.10

$ 1.10

Conversion of preferred stock

6,363,636

Conversion of preferred warrants

4,772,727

Aggregate gross proceeds

$ 7,000

$ 5,250

$ 22,414

$ 22,414

Preferred warrants exercise price

$ 1.01

$ 1.01

Preferred warrants exercisable, description

(i) two years from the date of issuance or (ii) the later of (a) 180 days after the closing by the Company of a change of control transaction, or (b) the company's next debt or equity financing of at least $20,000,000.

Outstanding convertible note amount

$ 15,000

$ 25,000

$ 2,000

$ 2,000,000

Conversion of convertible notes

13,636,363

Shares issued for acquisition

22,727,272

Preferred Stock [Member]

Stockholders' Equity (Textual)

Total expenses

$ 420

Sale of stock

2,386,363

Warrant [Member]

Stockholders' Equity (Textual)

Sale of stock

3,579,544

Warrants topurchase of common stock

1,084,712

Series A Convertible Preferred Stock [Member]

Stockholders' Equity (Textual)

Sale of stock

3,181,818

1,193,183

Stated value of per share

$ 0.001

Aggregate gross proceeds

$ 1,750

Aggregate fees

$ 140

Preferred stock exchange agreements, description

Pursuant to which the Holders exchanged an aggregate of 3,181,818 shares of the Series A Preferred, on a 1-for-2 basis, for an aggregate of 6,363,636 shares of the Company’s common stock, par value $0.001 per share.

Series B Convertible Preferred Stock

Stockholders' Equity (Textual)

Aggregate gross proceeds

Preferred stock exchange agreements, description

The Company and the holder of the Company’s Series B Convertible Preferred Stock, with a par value of $0.001 per share , entered into that certain Series B Convertible Preferred Stock Exchange Agreement in the form attached hereto as Exhibit 10.1, pursuant to which the Holder exchanged an aggregate of 1,818,181 shares of the Series B Preferred, on a 1-for-1 basis, for an aggregate of 1,818,181 shares of the Company’s common stock, par value $0.001 per share.

Loss of Control of Subsidiary (

Loss of Control of Subsidiary (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2018	Jun. 10, 2020	Sep. 05, 2019	Feb. 24, 2019
Loss of Control of Subsidiary (Textual)
Percentage of shares issued and outstanding		49.89%	45.53%
Micronet [Member]
Loss of Control of Subsidiary (Textual)
Ownership interest	53.39%	50.07%
Ownership interest in Micronet, diluted		49.89%
Maximum [Member]
Loss of Control of Subsidiary (Textual)
Ownership interest in Micronet, diluted				33.88%	49.89%
Minimum [Member]
Loss of Control of Subsidiary (Textual)
Ownership interest in Micronet, diluted				30.48%	33.88%

Gain of Control of Subsidiary_3

Gain of Control of Subsidiary- Micronet Acquisition (Details) - Micronet [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Revenues
Revenues	$ 349	$ 1,438
Net loss	$ (905)	$ (3,448)

Gain of Control of Subsidiary_4

Gain of Control of Subsidiary- Micronet Acquisition (Details 1) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019	Feb. 24, 2019
Less:
Property and equipment		$ 582	$ 29
Right of use assets		84		$ 310
Other assets				26
Lease liabilities		(3,176)	(290)
Intangible assets - trade name/ trademarks		580
Intangible assets - developed technology		11,490
Noncontrolling interest		2,000		(2,172)
Goodwill value		22,405		$ 2,618
Micronet [Member]
Total cash consideration	[1]	887
Total Purchase Consideration		887
Less:
Debt-free net working capital	[2]	788
Property and equipment	[2]	661
Right of use assets	[2]	310
Other assets	[2]	26
Borrowings	[2]	(1,675)
Severance payable	[2]	(95)
Lease liabilities	[2]	(101)
Intangible assets - trade name/ trademarks		270
Intangible assets - developed technology		1,580
Intangible assets - customer relationship		410
Intangible assets - ground		215
Deferred Tax liability		(362)
Fair value of net assets acquired		2,027
Noncontrolling interest		(2,172)
Gain on equity interest		(665)
Equity investment		(921)
Change in investment		(3,758)
Goodwill value		$ 2,618,000
[1]	Cash paid at the closing of the Micronet public offering.
[2]	Book value used as a proxy for fair value.

Gain of Control of Subsidiary_5

Gain of Control of Subsidiary- Micronet Acquisition (Details Textual) ₪ in Thousands, $ in Thousands	1 Months Ended					9 Months Ended	12 Months Ended
	Jul. 30, 2020shares	Jul. 03, 2020shares	Jun. 23, 2020USD ($)shares	Jun. 23, 2020ILS (₪)shares	Feb. 28, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2018
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Aggregate value						$ 887
Purchased an additional shares | shares	22,727,273	22,727,273
Net gain (loss) from deconsolidation of Micronet Ltd.					$ 299
ILS [Member]
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Aggregate value | ₪				₪ 3,100
Common Stock
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Purchased shares | shares			5,999,996	5,999,996
Aggregate value			$ 515
Ownership interest			45.53%	45.53%
Purchased an additional shares | shares			10,334,000	10,334,000
Common Stock | ILS [Member]
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Aggregate value | ₪				₪ 1,800
Micronet [Member]
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Ownership interest						53.39%	50.07%
Net gain (loss) from deconsolidation of Micronet Ltd.						$ 665,000

Loan to Micronet Ltd. (Details)

Loan to Micronet Ltd. (Details) $ in Thousands	Nov. 13, 2019USD ($)₪ / shares	Sep. 19, 2019USD ($)	Jul. 05, 2020₪ / shares	Sep. 30, 2020	Aug. 13, 2020USD ($)	Jul. 03, 2020USD ($)	Nov. 18, 2019USD ($)
Loan to Micronet Ltd. (Textual)
Additional loan | $						$ 25,000
Subsidiary [Member]
Loan to Micronet Ltd. (Textual)
Agreed to loan | $		$ 250
Loan to subsidiary, description		The proceeds from the First Loan were designated, per the terms of the First Loan, for Micronet's working capital and general corporate needs. The First Loan did not bear any interest and was due and payable upon the earlier of (i) December 31, 2019; or (ii) at such time Micronet receives an investment of at least $250,000 from non-related parties.
Micronet [Member]
Loan to Micronet Ltd. (Textual)
Agreed to loan | $	$ 500						$ 125
Convertible Loan, description				The First Loan and Second Loan, an accumulated loans in the total sum of $375,000.
Bears interest rate	3.95%
Conversion price per share	$ 0.38
Additional loan | $					$ 175
Micronet [Member] | ILS [Member]
Loan to Micronet Ltd. (Textual)
Exercise price per share	$ 0.60
Micronet [Member] | ILS [Member] | Minimum [Member]
Loan to Micronet Ltd. (Textual)
Conversion price per share			₪ 0.08
Exercise price per share			0.6
Micronet [Member] | ILS [Member] | Maximum [Member]
Loan to Micronet Ltd. (Textual)
Conversion price per share			5.7
Exercise price per share			₪ 9

GFH Intermediate Holdings Ltd_3

GFH Intermediate Holdings Ltd (“GFHI”) Acquisition (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Loan to Micronet Ltd. [Abstract]
Total share consideration	$ 32,050	[1]
Total Purchase Consideration	32,050
Intangible assets
Intangible assets - trade name/ trademarks	580
Intangible assets - developed technology	11,490
Intangible assets - Customer database	4,500	[2]
Deferred Tax liability	(4,308)	[3]
Fair value of net assets acquired	12,262
Goodwill value	$ 19,788	[4]
[1]	The purchase consideration represented the fair value of the Convertible Promissory Notes that were converted into common stock of MICT.
[2]	The Customer database value is based on the cost to recreate, as indicated by Management.
[3]	Represents the income tax effect of the difference between the accounting and income tax bases of the identified intangible assets, using an assumed statutory income tax rate of 26%.
[4]	The goodwill is not deductible for tax purposes.

GFH Intermediate Holdings Ltd_4

GFH Intermediate Holdings Ltd (“GFHI”) Acquisition (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues	$ 349		$ 349	$ 477
Net loss	14,151	$ 1,210	15,559	$ 3,222
GFHI [Member]
Revenues
Net loss	$ (136)		$ (136)

GFH Intermediate Holdings Ltd_5

GFH Intermediate Holdings Ltd (“GFHI”) Acquisition (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Jul. 30, 2020	Jul. 03, 2020
Loan to Micronet Ltd. [Abstract]
Convertible promissory note		$ 25,000
Conversion price		$ 1.10
Purchased an additional shares	22,727,273	22,727,273

Segments (Details)

Segments (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Operating segments
Revenues from external customers		$ 349		$ 349	$ 477
Segment operating loss		(6,016)	$ (501)	(7,454)	$ (3,009)
BS segments
Assets related to segments		62,993		62,993		$ 5,917
Total Equity		50,781		50,781		$ 3,244
Consolidated [Member]
Operating segments
Revenues from external customers				349
Segment operating loss				(1,987)
Non allocated expenses				(5,816)
Finance expenses and other				(8,786)
Consolidated loss before provision for income taxes				(16,240)
BS segments
Assets related to segments		44,027		44,027
Non allocated Assets		18,966		18,966
Liabilities related to segments		(8,983)		(8,983)
Non allocated liabilities		(1,229)		(1,229)
Total Equity		52,781		52,781
Verticals and technology [Member]
Operating segments
Revenues from external customers
Segment operating loss	[1]			(869)
BS segments
Assets related to segments	[2]	35,896		35,896
Liabilities related to segments	[3]	(4,528)		(4,528)
Mobile resource management [Member]
Operating segments
Revenues from external customers				349
Segment operating loss	[4]			(1,118)
BS segments
Assets related to segments	[5]	8,131		8,131
Liabilities related to segments	[6]	$ (4,455)		$ (4,455)
[1]	Includes $733 of intangible assets amortization, derived from GFHI. acquisitions.
[2]	Includes $14,660 of intangible assets and $19,788 goodwill, derived from GFHI's acquisition.
[3]	Includes $4,118 of deferred tax liability, derived from GFHI acquisition.
[4]	Includes $103 of intangible assets amortization, derived from Micronet.
[5]	Includes $1,765 of intangible assets and $2,617 goodwill, derived from Micronet's consolidation.
[6]	Includes $345 of deferred tax liability, derived from Micronet consolidation.

Segments (Details Textual)

Segments (Details Textual) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019	Feb. 24, 2019
Segments (Textual)
Intangible assets				$ 2,475
Goodwill		$ 22,405		$ 2,618
Deferred tax liability	[1]	4,308
GFHI Acquisitions [Member]
Segments (Textual)
Intangible assets amortization		733
Intangible assets		14,660
Goodwill		19,788
Deferred tax liability		4,118
Micronet [Member]
Segments (Textual)
Intangible assets amortization		103
Intangible assets		1,765
Goodwill		2,618,000
Deferred tax liability		$ 345
[1]	Represents the income tax effect of the difference between the accounting and income tax bases of the identified intangible assets, using an assumed statutory income tax rate of 26%.

Subsequent Events (Details)

Subsequent Events (Details) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, $ in Thousands	Nov. 03, 2020USD ($)	Nov. 02, 2020USD ($)$ / shares	Oct. 11, 2020USD ($)shares	Oct. 11, 2020ILS (₪)₪ / sharesshares	Oct. 02, 2020	Sep. 10, 2020shares	Sep. 08, 2020shares	Sep. 30, 2020$ / shares	Jul. 03, 2020$ / shares	Dec. 31, 2019$ / shares
Subsequent Events (Textual)
Conversion price per share | $ / shares									$ 1.10
Shares of its common stock | shares						1,818,181	6,363,636
Common stock, par value | $ / shares								$ 0.001		$ 0.001
Micronet [Member]
Subsequent Events (Textual)
Purchased ordinary amount | $			$ 1,417,486
Subsequent Event [Member]
Subsequent Events (Textual)
Conversion price per share | $ / shares		$ 0.0025
Ordinary shares issued and outstanding percentage		7.00%
Hong Kong based securities and investments, description					That its indirect wholly-owned subsidiary BI Intermediate (Hong Kong) Limited ("BI Intermediate") has entered a strategic agreement ("Strategic Agreement") to acquire, for a total purchase price of U.S.$3.0 million, 9% of a Huapei Global Securities Limited ("Huapei"), Hong Kong based securities and investments firm. The Strategic Agreement provided that the remaining 91% of Huapei would be purchased by BI Intermediate upon approval from the Hong Kong Securities and Futures Commission (SFC), the principal regulator of Hong Kong's securities and futures markets. On November 11, 2020, BI Intermediate closed on its acquisition of the first 9% of its acquisition and paid 9% of the purchase price. Additionally, on November 11, 2020, upon the initial closing, BI Intermediate made a loan to Huapei in an amount equivalent to the remaining 91% of the purchase price. Upon the closing of the remaining 91%, which remains subject to SFC approval, the loan will be cancelled, and BI Intermediate will acquire the remaining 91% of Huapei. If the Strategic Agreement is terminated or the closing of the remaining 91% does not occur within 24 months, Huapei will repay the loan to BI Intermediate. The loan is secured against the 91% of the share capital of Huapei not owned by BI Intermediate. The obligations of Huapei Global Capital Limited, the seller of the interests of Huapei, under the loan agreement have been guaranteed by the ultimate controller of Huapei Global Capital Limited. Huapei is licensed to trade securities on leading exchanges in Hong Kong, the U.S. and China including the valuable China A-Shares, all of which are the primary target markets for Company's global fintech business. The Company is in the process of integrating its mobile app supporting platform with Huapei's licensed trading assets.
Shares of its common stock | shares			520,600	520,600
Purchased ordinary shares | shares			416,480	416,480
Purchased convertible ordinary shares | shares			416,480	416,480
Purchased ordinary amount | $	$ 500,000
Gross proceed | $		$ 22,325
Remaining additional gross poceeds | $		$ 2,675
Placement agency agreement, percentage		3.50%
Aggregate gross proceeds of offering, percentage		1.00%
Securities purchase agreement, description		MICT, Inc entered into a Securities Purchase Agreement with certain investors for the purpose of raising $25.0 million in gross proceeds for the Company (the "Offering"). Pursuant to the terms of the Purchase Agreement, the Company agreed to sell, in a registered direct offering, an aggregate of 10,000,000 units, with each Unit consisting of one share of the Company's common stock, par value $0.001 per share, and one warrant to purchase 0.8 of one share of Common Stock, at a purchase price of $2.50 per Unit. The Warrants are exercisable six months after the date of issuance at an exercise price of $3.12 per share and will expire five years following the date the Warrants become exercisable.
Offering proceeds, description		The Offering Proceeds that were wired to Bokefa, are currently subject to China's State Administration of Foreign Exchange's ("SAFE") Circular on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents' Offshore Investment and Financing and Roundtrip Investment Through Special Purpose Vehicles, or SAFE Circular 37. Following the clearance of SAFE Circular 37, such proceeds will be deposited in the Bokefa account. The gross proceeds were subject to certain issuance costs and related expenses, including U.S. Placement Agent's fees of 7.0% of the public offering price on $15.0 million, U.S. Placement Agents fees of 3.5% on $10 million, non-U.S. broker fees of 6.5% on $10 million and a non-accountable expense allowance of 1% of the public offering price to the U.S. Placement Agent as well as additional expenses pay to professionals in connection with the Offering.
Subsequent Event [Member] | Minimum [Member]
Subsequent Events (Textual)
Ordinary shares issued and outstanding percentage			50.32%	50.32%
Subsequent Event [Member] | Maximum [Member]
Subsequent Events (Textual)
Ordinary shares issued and outstanding percentage			53.39%	53.39%
Subsequent Event [Member] | NIS [Member]
Subsequent Events (Textual)
Conversion price per share | ₪ / shares				₪ 3.5
Purchased ordinary amount | ₪				₪ 4,961,202