Tingo (TIOG) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 13, 2021
Document Information Line Items
Entity Registrant Name	MICT, INC.
Trading Symbol	MICT
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		121,485,557
Amendment Flag	false
Entity Central Index Key	0000854800
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-35850
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0016420
Entity Address, Address Line One	28 West Grand Avenue
Entity Address, Address Line Two	Suite 3
Entity Address, City or Town	Montvale
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07645
City Area Code	(201)
Local Phone Number	225-0190
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash	$ 114,183	$ 29,049
Trade accounts receivable, net	16,052	523
Inventories		2,002
Other current assets	2,314	1,756
Related party	1,230
Held for sales assets		350
Total current assets	133,779	33,680
Property and equipment, net	261	417
Intangible assets, net	19,493	17,159
Goodwill	19,788	22,405
Investment and loan to Magpie (formerly: Huapei)		3,038
Right-of-use assets	2,689	291
Long-term deposit and prepaid expenses	172	266
Micronet Ltd. equity method investment	965
Restricted cash escrow	477	477
Total long-term assets	43,845	44,053
Total assets	177,624	77,733
LIABILITIES AND EQUITY
Current maturity of long term bank loans		884
Trade accounts payable	11,798	838
Related party		163
Other current liabilities	3,489	5,102
Total current liabilities	15,287	6,987
Long term escrow	477	477
Lease liability	2,533	164
Deferred tax liabilities	3,513	4,256
Accrued severance pay	54	153
Total long-term liabilities	6,577	5,050
Total liabilities	21,864	12,037
Stockholders’ Equity:
Common stock; $0.001 par value, 250,000,000 shares authorized, 120,700,995 and 68,757,450 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	121	68
Additional paid in capital	218,373	102,333
Capital reserve related to transaction with the minority shareholder		(174)
Accumulated other comprehensive income (loss)	89	(196)
Accumulated loss	(62,823)	(39,966)
MICT, Inc. stockholders’ equity	155,760	62,065
Non-controlling interests		3,631
Total equity	155,760	65,696
Total liabilities and equity	$ 177,624	$ 77,733

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	120,700,995	68,757,450
Common stock, shares outstanding	120,700,995	68,757,450

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net revenues	$ 12,341		$ 21,276
Cost of revenues	11,675		18,667
Gross profit	666		2,609
Operating expenses:
Research and development	388		619
Selling and marketing	1,351		2,352
General and administrative	14,853	668	19,421	1,438
Amortization of intangible assets	643		1,569
Total operating expenses	17,235	668	23,961	1,438
Loss from operations	(16,569)	(668)	(21,352)	(1,438)
Loss from equity investment	(163)	(146)	(163)	(786)
Other (income) loss, net	(4)		83
Financial income (expenses), net	291	381	(275)	157
Gain (loss) on equity investment held in Micronet	(1,934)	665	(1,934)	665
Income (loss) before provision for income taxes	(18,379)	232	(23,641)	(1,402)
Taxes on income (tax benefit)	17	5	(339)	6
Net income (loss)	(18,396)	227	(23,302)	(1,408)
Net loss attributable to non-controlling interests			(445)
Net income (loss) attributable to MICT, Inc.	$ (18,396)	$ 227	$ (22,857)	$ (1,408)
Earnings (loss) per share attributable to MICT, Inc.
Basic (in Dollars per share)	$ (0.16)	$ 0.02	$ (0.22)	$ (0.12)
Diluted (in Dollars per share)	$ (0.16)	$ 0	$ (0.22)	$ (0.12)
Weighted average common shares outstanding:
Basic (in Shares)	117,634,776	11,094,784	102,992,830	11,092,144
Diluted (in Shares)	117,634,766	19,901,263	102,992,830	11,092,144

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (18,396)	$ 227	$ (23,302)	$ (1,408)
Other comprehensive income (loss), net of tax:
Currency translation adjustment	(321)	164	285	94
Total comprehensive income (loss)	(18,717)	391	(23,017)	(1,314)
Comprehensive loss attributable to non-controlling interests	(3)		(642)
Comprehensive income (loss) attributable to MICT, Inc.	$ (18,714)	$ 391	$ (22,375)	$ (1,314)

Unaudited Statements of Changes

Unaudited Statements of Changes in Equity - USD ($) $ in Thousands	Series B Convertible Preferred Stock	Series A Convertible Preferred Stock	Common Stock	Additional Paid-in Capital – Series B Convertible Preferred Stock	Additional Paid-in Capital – Series A Convertible Preferred Stock	Additional Paid-in Capital		Accumulated Loss	Accumulated Other Comprehensive Income	Non- controlling Interest	Capital reserve related to transaction with the minority	Additional Paid-in Capital – Common Stock	Total
Balance at Dec. 31, 2019		$ 2	$ 11		$ 6,028	$ 14,107		$ (16,974)	$ 70				$ 3,244
Balance (in Shares) at Dec. 31, 2019		2,386,363	11,089,532
Shares issued to service providers and employees						22							22
Shares issued to service providers and employees (in Shares)			18,182
Stock based compensation						69							69
Comprehensive loss								(1,408)	94				(1,314)
Entering the control of a subsidiary										2,172			2,172
Issuance of shares, net- Series A Convertible Preferred Stock		$ 1			409								410
Issuance of shares, net- Series A Convertible Preferred Stock (in Shares)		795,455
Issuance of shares, net- Series B Convertible Preferred Stock	$ 2			1,914									1,916
Issuance of shares, net- Series B Convertible Preferred Stock (in Shares)	1,818,182
Balance at Jun. 30, 2020	$ 2	$ 3	$ 11	1,914	6,437	14,198		(18,382)	164	2,172		$ 14,198	6,519
Balance (in Shares) at Jun. 30, 2020	1,818,182	3,181,818	11,107,714
Balance at Mar. 31, 2020	$ 2	$ 3	$ 11	1,914	6,437			(18,609)	0	0		14,169	3,927
Balance (in Shares) at Mar. 31, 2020	1,818,182	3,181,818	11,089,532
Shares issued to service providers and employees												22	22
Shares issued to service providers and employees (in Shares)			18,182
Stock based compensation												7	7
Comprehensive loss								227	164				391
Entering the control of a subsidiary										2,172			2,172
Balance at Jun. 30, 2020	$ 2	$ 3	$ 11	$ 1,914	$ 6,437	14,198		(18,382)	164	2,172		$ 14,198	6,519
Balance (in Shares) at Jun. 30, 2020	1,818,182	3,181,818	11,107,714
Balance at Dec. 31, 2020			$ 68			102,333	[1]	(39,966)	(196)	3,631	$ (174)		65,696
Balance (in Shares) at Dec. 31, 2020			68,757,450
Shares issued to service providers and employees			$ 6			8,369	[1]						8,375
Shares issued to service providers and employees (in Shares)			6,100,000
Stock based compensation						458	[1]						458
Exercising options for employees and consultants						28	[1]						28
Exercising options for employees and consultants (in Shares)			20,000
Net loss							[1]	(22,857)		(445)			(23,302)
Other Comprehensive loss							[1]		285	(197)	174		262
Loss of control of subsidiary							[1]			(2,989)			(2,989)
Issuance of shares upon November 2020 Securities Purchase Agreement			$ 3			2,673	[1]						2,676
Issuance of shares upon November 2020 Securities Purchase Agreement (in Shares)			2,400,000
Issuance of shares upon February 2021 Purchase Agreement			$ 23			53,977	[1]						54,000
Issuance of shares upon February 2021 Purchase Agreement (in Shares)			22,471,904
Issuance of shares upon March 2021 Securities Purchase Agreement			$ 19			48,671	[1]						48,690
Issuance of shares upon March 2021 Securities Purchase Agreement (in Shares)			19,285,715
Comprehensive loss													(23,017)
Issuance of shares, net- Series A Convertible Preferred Stock							[1]
Issuance of shares, net- Series A Convertible Preferred Stock (in Shares)
Exercising warrants			$ 2			1,864	[1]						1,866
Exercising warrants (in Shares)			1,665,926
Balance at Jun. 30, 2021			$ 121			218,373	[1]	(62,823)	89				155,760
Balance (in Shares) at Jun. 30, 2021			120,700,995
Balance at Mar. 31, 2021			$ 114			208,566	[1]	(44,427)	410	2,992	(174)		167,481
Balance (in Shares) at Mar. 31, 2021			114,177,951
Shares issued to service providers and employees			$ 6			8,669	[1]						8,675
Shares issued to service providers and employees (in Shares)			6,030,894
Stock based compensation						458	[1]						458
Net loss								(18,396)					(18,396)
Other Comprehensive loss									(321)	(3)	$ 174		(150)
Loss of control of subsidiary										(2,989)			(2,989)
Comprehensive loss													(18,717)
Exercising warrants			$ 1			680	[1]						681
Exercising warrants (in Shares)			492,150
Balance at Jun. 30, 2021			$ 121			$ 218,373	[1]	$ (62,823)	$ 89				$ 155,760
Balance (in Shares) at Jun. 30, 2021			120,700,995
[1]	Upon the conversion of Series A and B convertible preferred stock, all preferred stock and common stock additional paid-in capital was combined into one account.

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (23,302)	$ (1,408)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on previously held equity interest in Micronet Ltd.		(665)
Depreciation and amortization	1,648	3
Stock-based compensation for employees and consultants	458	69
Loss from loss of control in Micronet Ltd.	1,934
Loss from equity investment	163	786
Impairment of equity method investment in Micronet Ltd.		(187)
Impairment of loan to Micronet Ltd.		(84)
Interest and exchange rate differences on loans		19
Interest and exchange rate differences on loans from others		66
Changes in assets and liabilities
Change in deferred taxes, net	(545)
Change in long-term deposit and prepaid expenses	240
Change in right of use assets	(2,464)
Change in lease liability	2,402
Due to related party	167
Increase in trade accounts receivable, net	(15,447)
Increase in other accounts receivable	(892)	(410)
Increase in trade accounts payable	11,881
Increase (decrease) in other current liabilities	(692)	121
Net cash used in operating activities	(24,449)	(1,690)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(294)	(2)
Cash acquired through business combination - Magpie (Appendix B)	1,834
Payment on business acquired - Beijing Fucheng (Appendix A)	(4,891)
Additional investment of Micronet Ltd.		(515)
Cash acquired through consolidation of Micronet Ltd. (Appendix D)		268
Loan to related party	(500)	(125)
Net cash acquired on an variable interest entity acquired - Guangxi Zhongtong	460
Deconsolidation of Micronet Ltd. (Appendix C)	(2,466)
Net cash used in investing activities	(5,857)	(374)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of current maturity of long term bank loans	(195)
Receipt of loans from others, net		8,141
Repayment on account of redemption		(15,900)
Payments on account of shares		15,900
Proceeds from issuance of shares and warrants	113,741	22
Proceeds from exercise of warrants	1,894
Issuance of convertible preferred shares net		409
Net cash provided by financing activities	115,440	8,572
NET INCREASE IN CASH	85,134	6,508
Cash and restricted cash at beginning of the period	29,526	3,676
TRANSLATION ADJUSTMENT ON CASH
Cash and restricted cash at end of the period	114,660	10,184
Amount paid during the period for:
Interest	27	19
Taxes	63	6
Supplemental non-cash financing information:
Conversion of convertible loan to shares		2,000
Cash at end of the period	114,183	9,707
Restricted cash at end of the period	477	477
Cash and restricted cash at end of the period	$ 114,660	$ 10,184

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows (Supplemental non-cash investing and financing activities) - USD ($) $ in Thousands	Feb. 10, 2021	Feb. 26, 2021	Jun. 23, 2020	May 09, 2021
Beijing Fucheng [Member]
Net working capital	$ 106
Property and equipment	26
Current liabilities	(55)
Intangible assets	4,814
Cash	$ 4,891
Magpie Securities Limited [Member]
Net working capital		$ 206
Investment and loan to Magpie		(2,947)
Property and equipment		24
Current liabilities		(19)
Intangible assets		902
Cash		$ (1,834)
Deconsolidation of Micronet Ltd. [Member]
Cash				$ 2,466
Working capital other than cash				(3,849)
Finance lease				33
Accrued severance pay, net				96
Translation reserve				134
Micronet Ltd.investment in fair value				1,128
Non-controlling interests				2,990
Net loss from loss of control				$ 1,934
Acquisition of Micronet Ltd., net of cash acquired: [Member]
Net working capital			$ (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)
Minority interest			(2,172)
Net cash provided by acquisition			$ (268)

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 — DESCRIPTION OF BUSINESS Overview MICT, Inc (“MICT”, the “Company”, “We”, “us”, “our”) were formed as a Delaware corporation on January 31, 2002. On March 14, 2013, we changed our corporate name from Lapis Technologies, Inc. to Micronet Enertec Technologies, Inc. On July 13, 2018, following the sale of our former subsidiary Enertec Systems Ltd., we changed our name from Micronet Enertec Technologies, Inc. to MICT. Our shares have been listed for trading on The Nasdaq Capital Market under the symbol “MICT” since April 29, 2013. MICT Telematics Ltd (“MICT Telematics”) is a holding company wholly-owned by MICT, established in Israel on December 31, 1991. On October 22, 1993, MICT Telematics Ltd established a wholly-owned holding company headquartered in Israel, MICT Management Ltd. On June 10, 2020, MICT Telematics Ltd, our fully owned subsidiary, purchased 5,999,996 ordinary shares of Micronet Ltd. (“Micronet”) for aggregate proceeds of New Israeli Shekel (“NIS”) 1.8 Million (or $515,000) through tender offer issued by MICT Telematics. As a result, we have increased the ownership interest in Micronet to 45.53% of Micronet’s issued and outstanding ordinary shares. Subsequently, on June 23, 2020 we have purchased through public offering consummated by Micronet on the TASE, 10,334,000 of Micronet’s ordinary shares for total consideration of NIS 3,100,200 (or $887,000). as a result increased our ownership interest in Micronet to 53.39% of Micronet’s outstanding ordinary shares, and, as a result, MICT applied purchase accounting and began to consolidate Micronet beginning on such date. MICT recognized a $665,000, gain on previously held equity in Micronet. On October 11, 2020, Micronet has consummated a public equity offering on 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 and as a result thereof including the purchase of Micronet shares, the exercise of our stock options and additional purchase of 115,851 Micronet shares from an individual seller our ownership interest in Micronet was diluted from 53.39% to 50.31% of the Micronet outstanding share capital. On May 9, 2021, following exercise of options by minority stockholders, the Company’s ownership interest was diluted to 49.88% and, as a result we no longer consolidate Micronet’s operating results in our financial statements. As of May 9, 2021, the Company accounted for the investment in Micronet using the equity method of accounting. On June 16, 2021, Micronet announced that it completed a public equity offering on the Tel Aviv Stock Exchange (the “TASE”). Pursuant to the offering, Micronet sold an aggregate number of 18,400 securities units (the “Units”) at a price of NIS 14.6 per Unit with each Unit consisting of 100 ordinary shares, 25 series A options and 75 series B options, resulting in the issuance of 1,840,000 ordinary shares, 460,000 series A options and 1,380,000 series B options. Micronet raised total gross proceeds of NIS 26,864,000 (approximately $8,290,000) in the Offering. The Company did not participate in the offering, and, as a result, the Company owned 36.95% of the outstanding ordinary shares of Micronet and 26.56% on a fully diluted basis as of June 30, 2021. Prior to July 1, 2020, MICT operated primarily through its Israel-based majority-owned subsidiary, Micronet. Since July 1, 2020, after MICT completed its acquisition (the “Acquisition”) of GFH Intermediate Holdings Ltd. (“GFHI” or “Intermediate”), pursuant to that certain 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” and “Merger”), we have been operating in the financial technology sector. Intermediate is a financial technology company with a marketplace in China and in other areas of the world and is currently in the process of building various platforms for business opportunities in various verticals and technology segments in order to capitalize on such technology and business. Intermediate plans to continue and advance its capabilities and its technological platforms through acquisition or license of technologies to support in growth efforts in the different market segments as more fully described below. Accordingly, after the Merger, MICT’s includes the business of Intermediate, its wholly-owned subsidiary, operating through its operating subsidiaries, as described herein. On February 1, 2019, BI Intermediate (Hong Kong) Limited (“BI Intermediate”) was incorporated in Hong Kong as a holding company wholly-owned by GFHI. On October 2, 2020, BI Intermediate entered a strategic agreement (“Strategic Agreement”) to acquire, the entire share capital of Magpie Securities Limited (“Magpie”), a Hong Kong based securities and investments firm for a total purchase price of approximately $3.0 million (“Purchase Price”). Magpie is licensed to trade securities on leading exchanges in Hong Kong, the U.S. and China, including China A-Shares, all of which are the primary target markets for Company’s global fintech business. The Strategic Agreement provided that the acquisition shall be consummated in two phases, an initial purchase of 9% of the share capital of Magpie and thereafter, the remaining 91% of Magpie would be purchased by BI Intermediate upon, and subject to, the approval of 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, pursuant to the Strategic Agreement upon the initial closing, BI Intermediate loaned Magpie an amount equivalent to the remaining 91% of the Purchase Price. Upon 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 Magpie. The loan was secured against the pledge of the 91% of the share capital of Magpie yet purchased at such time by BI Intermediate. The obligations of Magpie, the seller of the interests of Magpie, under the loan agreement have been guaranteed by the ultimate shareholder of Magpie. On February 26, 2021 we completed the 100% acquisition of Magpie. The acquisition was consummated following the receipt of approval from the SFC effecting the change in the substantial shareholder of Magpie. In the consideration for the entire share capital of Magpie, we paid a total Purchase Price of $2.947 million (reflecting the net asset value of Magpie estimated at $2.034 million recorded as a working capital, and a premium $902 thousands that were recorded as a license in the Intangible assets). The Company, through and together with the Company’s wholly owned subsidiaries, Beijing Magpie Securities Consulting Services Co., Ltd (“Beijing Magpie”) and Shenzhen Magpie Information Consulting Technology Co., Ltd (“Shenzhen Magpie”), is in the process of integrating its mobile app supporting platform with Magpie’s licensed trading assets. Upon completion of the Magpie acquisition, we were able to obtain the licenses and permits needed for operating online platform. After the appropriate testing to ensure scale and reliability of the system is complete, we will be in a position to notify the Hong Kong regulator of our intended launch date. Our initial plan is to launch the online stock trading platform in Hong Kong. On December 11, 2019, Bokefa Petroleum and Gas Co., Ltd (“Bokefa Petroleum”) was incorporated in Hong Kong as a holding Company, which is wholly-owned by BI Intermediate. On October 22, 2020 and March 8, 2021, Bokefa Petroleum established another two holding companies, Shanghai Zheng Zhong Energy Technologies Co., Ltd (“Shanghai Zheng Zhong”) and Tianin Bokefa Technology Co., Ltd. (“Bokefa”). On January 1, 2021, we have entered into a transaction through Bokefa, with the shareholders of Guangxi Zhongtong Insurance Agency Co., Ltd (“Guangxi Zhongtong”), a local Chinese entity with business and operations in the insurance brokerage business. Pursuant to the transaction, we have granted to the Guangxi Zhongtong shareholders (the “Shareholders”) with a frame work loan (“Frame Work Loan”) in the amount of up to RMB 40 million (approximately $6,125,000) (“Frame Work Loan Amount”) which is designated, if exercised, to be used as working capital loan for Guangxi Zhongtong. As of June 30, 2021, only RMB 1,800,000 (approximately $275,000) was drawn down from our the Frame Work Loan for working capital and approximately $500,000 drawn down from our Frame work Loan as loans to shareholders of Guangxi Zhongtong as stipulated in the agreement. In the consideration for the Frame Work Loan, the parties have entered into various additional agreements which include among other: (i) a pledge agreement pursuant to which the Shareholders have pledged their shares for the benefit of Bokefa in order to secure the amount drown from the Frame work Loan Amount (ii) exclusive option agreement pursuant to which Bokefa has an exclusive option to purchase the entire shares of Guangxi Zhongtong from the Shareholders (“Option Agreement”) under such terms set forth in the Option Agreement which include an exercise price not less than the maximum Frame work Loan Amount and the right to convert the Frame work Loan Amount into the purchased shares (iii) Entrustment Agreement and Power of Attorney Agreement pursuant to which the Shareholders irrevocably entrusted and appointed Tianjin Bokefa as its proxy and trustee to exercise on their behalf any and all rights under applicable law and the articles of association of Guangxi Zhongtong in the Shareholder’s equity interest in Guangxi Zhongtong (iv) business cooperation agreement and a master exclusive service agreement which grants Bokefa with rights related to the Guangxi Zhongtong business and operations designed to secure repayment of the Loan Amount. This transaction was structured pursuant to a Variable Interest Entity (“VIE”) Structure (in which we do not hold the shares). As such, and in view of our direct ownership in Bokefa and its contractual arrangements with Guangxi Zhongtong, we are regarded as Guangxi Zhongtong’s controlling entity and primary beneficiary of the Guangxi Zhongtong business. We have, therefore, consolidated the financial position and operating results of Guangxi Zhongtong in our consolidated financial statements, using the fair value of the assets and liabilities of Guangxi Zhongtong, in accordance with U.S. GAAP. Please see below for VIE related disclosure. Beijing Fucheng Lianbao Technology Co., Ltd (“Beijing Fucheng”) is an entity incorporated on December 29, 2020, in which Tianjin Bokefa Technology Co., Ltd (“Bokefa”) owns 24% equity interest with the remaining 76% controlled by Bokefa through VIE agreements. On February 10, 2021, Beijing Fucheng acquired all of the shares of Beijing Yibao Technology Co., Ltd., (“Beijing Yibao”) who hold 100% in the equity interest of Beijing Fucheng Insurance Brokerage Co., Ltd. (“Fucheng Insurance”). Fucheng Insurance is a Chinese insurance brokerage agency and is a nation-wide licensed entity which offers insurance brokerage services for a broad range of insurance products. The Fucheng Insurance, through their nationwide license, will give us flexibility to offer and create tailor-made insurance products, to leverage directly to customers or through distribution partners and procure better deals with both our existing and new insurance company partners. The Fucheng Insurance further enables us to accelerate the onboarding of new agents throughout China onto our platforms. It also creates the opportunity to promote our business through some of China’s biggest online portals, which will provide business-to-business-to-consumer (B2B2C) as well as business-to-consumer (B2C) channels. When Fucheng Insurance initiates its nationwide rollout of its mobile application, it will facilitate access to those portals’ vast customer bases, which will offer MICT’S full complement of insurance products. Beijing Fucheng shares were acquired for approximately $5.7 million, and funded through MICT. For further information please refer to Note 7. From January through June 2021, Shenzhen Bokefa Technology Co., Ltd (“Shenzhen Bokefa”) and Tianjin Dibao Technology Co., Ltd was established under BI Intermediate as holding companies to further develop the Company’s business in China. Our current business, following the completion of the Acquisition, is primarily comprised and focused on the growth and development of the Intermediate financial technology offering and the marketplace in China. We aim and are in the process of building various platforms for business opportunities in various verticals and technology segments in order to capitalize on such technology and business. As a result of our Acquisition of Intermediate and the subsequent work we have undertaken with the management of Intermediate, we are positioned to establish ourselves, through our operating subsidiaries, to serve the markets as a financial technology company with a significant China marketplace and in other areas of the world. Intermediate has built various platforms to capitalize on business opportunities in a range of verticals and technology segments, which currently includes stock trading and wealth management; commodities in segments of oil and gas trading; and insurance brokerage. We are seeking to secure material contracts in these valuable market segments in China while developing opportunities, in order to allow Intermediate to access to such markets. We will continue to add to the capabilities of such platforms such as through acquisition and/or the 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, we intend to provide customized solutions that address the needs of a highly diverse and broad client base. We implemented our plans taking advantage of Intermediate experience and experience in local markets in China, and through the Company’s operating subsidiaries which have begun to secure material contracts in fast growing market segments in China. Our current valuable opportunities have given us access the following market segments: ● Stock trading and wealth management segment ● Commodities in the field of Oil and gas trading segment ● Insurance brokerage segment As set hereunder, these opportunities are supported and shall further planned to be executed and realized through our business development efforts which as set forth herein include the acquisition of potential targets entities, business and assets (such as applicable required licenses) in the relevant business space and segments in which we plan to operate, which allow the Company to enter the market quickly and leverage on such existing assets in order to promote its growth strategy. The following diagram illustrates the Company’s corporate structure, including its subsidiaries, and variable interest entities (“VIEs”), as of June 30, 2021: VIE agreements with Guangxi Zhongtong: On January 1, 2021, Tianjin Bokefa Technology Co. Ltd (“Bokefa”) the wholly foreign-owned enterprise (“WFOE”), Guangxi Zhongtong, and nominee shareholders of Guangxi Zhongtong entered into six agreements, and are described in detail below, pursuant to which Bokefa is deemed to have controlling financial interest and be the primary beneficiary of Guangxi Zhogntong, and, therefore, Guangxi Zhongtong is deemed a VIE of Bokefa: Loan Agreement Pursuant to this agreement, Bokefa agreed to provide loans to the registered shareholders of Guangxi Zhongtong. The effective term of the loan agreement is unlimited, and the agreement shall terminate when the shareholders repay the loan. The loan should be solely used as Guangxi Zhongtong’s operating purpose, and should be exclusively repaid by transferring shares of Guangxi Zhongtong to Bokefa when PRC Law permits. Exclusive Option Agreement The effective term of the agreement is unlimited and the agreement shall terminate upon the transfer of all the equity interest of Guangxi Zhongtong to Bokefa in accordance with relevant laws and the provisions as provided in the agreement, or upon written notice by Bokefa to shareholders. In consideration of Bokefa’s finance support in terms of loan arrangement, the shareholder have agreed to grant Bokefa exclusively an option to purchase the equity interest. Distribution of residual profit, if any, is restricted without the approval of Bokefa. Upon request by Bokefa, Guangxi Zhongtong is obliged to distribute profit to the shareholders of Guangxi Zhongtong, who must remit to Bokefa immediately Guangxi Zhongtong and its shareholders are required to act in a manner that is in the best interest of Bokefa with regards to Guangxi Zhongtong’s business operation. Equity Pledge Agreement The agreement will be terminated at the date when the other agreements have been terminated. Pursuant to the agreement, the nominee shareholder pledged all its equity interest in Guangxi Zhongtong to Bokefa as a security for the obligations in the other agreements. Bokefa has the right to receive dividends of the pledged shares; and all shareholders are required to act in a manner that is in the best interest of Bokefa. Business Cooperation Agreement The agreement is effective until terminated by both parties. Guangxi Zhongtong and its shareholders agree that the legal person, directors, general manager and other senior officers of Guangxi Zhongtong should be appointed or elected by Bokefa. Guangxi Zhongtong and its shareholders agree that all financial and operational decisions of Guangxi Zhongtong should be made by Bokefa. Exclusive Service Agreement The effective term of this agreement is for one year and it can be extended unlimited times if agreed by both parties. Bokefa agrees to provide exclusive technical consulting and supporting services to Guangxi Zhongtong and Guangxi Zhongtong agrees to pay service fees to Bokefa. VIE agreements with Beijing Fucheng: On December 31, 2020, Tianjin Bokefa Technology Co. Ltd (“Bokefa”) the WOFE, Beijing Fucheng, and a shareholder of Beijing Fucheng entered into six agreements, and such agreements are described in detail below, pursuant to which Bokefa is deemed to have controlling financial interest and be the primary beneficiary of Beijing Fucheng, and, therefore, Beijing Fucheng is deemed a VIE of Bokefa. Beijing Fucheng was incorporated on December 29, 2020 and had no assets or liabilities as of December 31, 2020. Loan Agreement Pursuant to this agreement, Bokefa agreed to provide loans to the registered shareholders of Beijing Fucheng. The effective term of the loan agreement is unlimited, and the agreement terminates when the shareholder repays the loan. The loan should be solely used as Beijing Fucheng’s operating purpose, and should be exclusively repaid by transferring shares of Beijing Fucheng to Bokefa when PRC Law permits. Exclusive Option Agreement The effective term of the agreement is unlimited and the agreement shall terminate upon the transfer of all the equity interest of Bejing Fucheng to Bokefa in accordance with relevant laws and the provisions as provided in the agreement, or upon written notice by Bokefa to shareholder. In consideration of Bokefa’s finance support in terms of loan arrangement, the shareholder have agreed to grant Bokefa exclusively an option to purchase the equity interest. Distribution of residual profit, if any, is restricted without the approval of Bokefa. Upon request by Bokefa, Beijing Fucheng is obliged to distribute profit to the shareholders of Beijing Fucheng, who must remit to Bokefa immediately Beijing Fucheng and its shareholders are required to act in a manner that is in the best interest of Bokefa with regards to Beijing Fucheng’s business operation. Equity Pledge Agreement The agreement will be terminated at the date when the other agreements have been terminated. Pursuant to the agreement, the shareholder pledged all its equity interest in Beijing Fucheng to Bokefa as a security for the obligations in the other agreements. Bokefa has the right to receive dividends of the pledged shares; and all shareholder is required to act in a manner that is in the best interest of Bokefa. Business Cooperation Agreement The agreement is effective until terminated by both parties. Beijing Fucheng and its shareholder agree that the legal person, directors, general manager and other senior officers of Beijing Fucheng should be appointed or elected by Bokefa. Beijing Fucheng and its shareholder agree that all financial and operational decisions of Beijing Fucheng should be made by Bokefa. Exclusive Service Agreement The effective term of this agreement is for one year and it can be extended unlimited times if agreed by both parties. Bokefa agrees to provide exclusive technical consulting and supporting services to Beijing Fucheng and Beijing Fucheng agrees to pay service fees to Bokefa. The assets and liabilities of the Company’s VIEs (Guangxi Zhongtong and Beijing Fucheng) included in the Company’s unaudited condensed consolidated financial statements as of June 30, 2021 are as follows: June 30, USD (Unaudited) Current assets: Cash $ 1,665 Trade accounts receivable, net 10,535 Other current assets 721 Total current assets 12,921 Property and equipment, net $ 110 Long-term prepaid expenses $ 32 Goodwill 4,885 Total long-term assets $ 5,027 Total assets $ 17,948 Current liabilities: Trade accounts payable 10,779 Other current liabilities $ 1,324 Total current liabilities $ 12,103 Total liabilities $ 12,103 Net revenues, loss from operations and net loss of the VIEs that were included in the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2021 are as follows: For the For the June 30, June 30, 2021 2021 USD USD (Unaudited) (Unaudited) Net revenues $ 8,045 $ 14,265 Loss from operations $ (979 ) $ (1,093 ) Net loss $ (900 ) $ (1,101 )

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair presentation of the Company’s financial position, its results of operations and its cash flows, as applicable, have been made. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the Company’s December 31, 2020 annual report on Form 10-K filed on March 31, 2021. The Company’s operations and business may still be subject to adverse effect due to the unprecedented conditions surrounding the spread of COVID-19 throughout North America, Israel, China and the world. Although currently the COVID-19 (due to the measures implemented to reduce the spread of the virus) have not had a material adverse effect on the Company financial reports; there can be no assurance that Company’s financial reports will not be affected in the future from COVID-19 or resulting from restrictions and other government actions. Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the U.S. GAAP. Cash Cash consists of cash on hand, demand deposits and time deposits placed with banks or other financial institutions and have original maturities of less than three months. Accounts receivable, net Accounts receivable include trade accounts due from customers. Accounts are considered overdue after thirty (30) days from payment due date. In establishing the required allowance for doubtful accounts, management considers historical collection experience, aging of the receivables, the economic environment, industry trend analysis, and the credit history and financial conditions of the customers. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. As of June 30, 2021 and December 31, 2020, allowance for doubtful accounts amounted to nil Inventories Inventories consisting raw materials are stated at the lower of cost (first-in, first-out basis) or realizable value. Cost of work in process is comprised of direct materials, direct production costs and an allocation of production overheads based on normal operating capacity. Foreign currency translation and transaction The reporting currency of the Company is the U.S. dollar. The Companies in China conducts their businesses in the local currency, Renminbi (RMB), as its functional currency. The Companies in Israel conducts their businesses in the local currency, New Israeli Shekel (NIS), as its functional currency. The Companies in Hong Kong conducts their businesses in the local currency, Hong Kong Dollar (HKD), as its functional currency. Assets and liabilities are translated at the noon buying rate in the City of New York for cable transfers of RMB , NIS and HKD as certified for customs purposes by the Federal Reserve Bank of New York at the end of the period. The statement of income accounts are translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income (loss). Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Segment reporting Accounting Standard Codification (“ASC”) Topic 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of certain members of the Company’s management team. Operating leases The Company follows ASC No. 842, Leases. The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use assets (“ROU assets”) represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. ROU assets are reviewed for impairment when indicators of impairment are present. ROU assets from operating and finance leases are subject to the impairment guidance in ASC 360, Property, Plant, and Equipment, as ROU assets are long-lived nonfinancial assets. ROU assets are tested for impairment individually or as part of an asset group if the cash flows related to the ROU asset are not independent from the cash flows of other assets and liabilities. An asset group is the unit of accounting for long-lived assets to be held and used, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. The Company recognized no impairment of ROU assets as of June 30, 2021 and December 31, 2020. The operating lease is included in right-of-use assets and lease liability on the unaudited condensed consolidated balance sheets. Investments The Company’s long-term investments consist of equity investments in privately held entities accounted for using the measurement alternative and equity investments accounted for using the equity method. On January 1, 2018, the Company adopted ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. According to the guidance, the Company accounts for the equity investments at fair value, with gains and losses recorded through net earnings. The Company elected to measure certain equity investments without readily determinable fair value at cost, less impairments, plus or minus observable price changes and assess for impairment quarterly. The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control, using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entity, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investments in a privately held entity, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary. As of June 30, 2021, the Company owned 36.95% of shares in Micronet which was accounted for under equity method. As of June 30, 2021, the Company owned 24% of shares in Beijing Fucheng and controlled the remaining 76% through contractual arrangements as discussed in Note 1. Beijing Fucheng was therefore 100% consolidated in the unaudited condensed consolidated financial statements. Fair value measurement The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest. Intangible assets The Company’s intangible assets with definite useful lives primarily consist of licensed software, capitalized development costs, platform system, and land-use rights. The Company amortizes its intangible assets with definite useful lives over their estimated useful lives and reviews these assets for impairment. The Company typically amortizes its intangible assets with definite useful lives on a straight-line basis over the shorter of the contractual terms or the estimated useful lives. The Company did not record any impairment of intangible assets as of June 30, 2021 and December 31, 2020. Intangible assets are stated at cost less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Useful Life Licensed & software indefinite useful life Technology know-how 6 years Trade name/ trademarks 5 years Customer relationship 5 years Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition of a business. We test goodwill for impairment annually in the fourth quarter and when events or changes in circumstances indicate that the fair value of a reporting unit with goodwill has been reduced below its carrying value. On January 26, 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The standard simplifies the accounting for goodwill impairment by requiring a goodwill impairment to be measured using a single step impairment model, whereby the impairment equals the difference between the carrying amount and the estimated fair value of the specified reporting units in their entirety. This eliminated the second step of the previous impairment model that required companies to first estimate the fair value of all assets in a reporting unit and measure impairments based on those estimated fair values and a residual measurement approach. It also specifies that any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company did not record any impairment of goodwill as of June 30, 2021 and December 31, 2020. Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in our consolidated financial statements include the useful lives of plant and equipment and intangible assets, capitalized development costs, impairment of long-lived assets, allowance for doubtful accounts, revenue recognition, allowance for deferred tax assets and uncertain tax position. Actual results could differ from these estimates. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, or ASU 2014-09. ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. We adopted Topic 606 on January 1, 2018 using the modified retrospective transition method, and the adoption did not have a material impact on our consolidated financial statements. We recognize revenue which represents the transfer of goods and services to customers in an amount that reflects the consideration to which we expect to be entitled in such exchange. We identify contractual performance obligations and determines whether revenue should be recognized at a point in time or over time, based on when control of goods and services are provided to customers. We use a five-step model to recognize revenue from customer contracts. The five-step model requires us to (i) identify the contract with the customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur; (iv) allocate the transaction price to the respective performance obligations in the contract; and (v) recognize revenue when (or as) we satisfy the performance obligation. We derive our revenues from sales contracts with our customers with revenues being recognized upon performance of services. Our contracts with customers generally do not include a general right of return relative to the delivered products or services. We applied practical expedient when sales taxes were collected from customers, meaning sales tax is recorded net of revenue, instead of cost of revenue, which are subsequently remitted to governmental authorities and are excluded from the transaction price. With respect to Micronet applicable revenue recognition U.S. GAAP requirements, Micronet implements a revenue recognition policy pursuant to which it recognizes its revenues at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products are transferred to its customers. There is limited discretion needed in identifying the point control passes: once physical delivery of the products to the agreed location has occurred, Micronet no longer has physical possession of the product and will be entitled at such time to receive payment while relieved from the significant risks and rewards of the goods delivered. For most of Micronet’s products sales, control transfers when products are shipped. The Company’s revenues are generated from: a) providing customers with marketing promotion and information drainage services, which is to charge information service fees according to the customer traffic information provided to customers with business needs; b) to providing insurance brokerage services or insurance agency services on behalf of insurance carriers. With respect to the information drainage services and insurance brokerage services applicable to revenue recognition U.S. GAAP requirements, the company implements a revenue recognition policy pursuant to which it recognizes its revenues at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products are transferred to its customers. Our performance obligation to the insurance carrier is satisfied and commission revenue is recognized at the point in time when an insurance policy becomes effective. The Company provides customers with information drainage services and settles service charges with customers on the monthly basis. Performance obligation is satisfied overtime during the contract term. In accordance with ASC 606-10-55, Revenue Recognition: Principal Agent Considerations, the Company considers several factors in determining whether it acts as the principal or as an agent in the arrangement of merchandise sales and provision of various related services and thus whether it is appropriate to record the revenues and the related cost of sales on a gross basis or record the net amount earned as service fees. For insurance brokerage services, we have identified our promise to sell insurance policies on behalf of the insurance carriers as the performance obligation in our contracts with the insurance carriers. Income Taxes Deferred taxes are determined utilizing the “asset and liability” method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and the tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, when it’s more likely than not that deferred tax assets will not be realized in the foreseeable future. The Company applied FASB ASC Topic 740-10-25, “Income Taxes,” which provides guidance for recognizing and measuring uncertain tax positions and prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Company’s policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expense. MICT and its subsidiaries and VIEs within the jurisdiction of the United States, Israel and China are subject to a tax examination for the most recent three, four and five years, respectively. Stock-Based Compensation Stock-based compensation granted to the Company’s employees and consultants are measured at fair value on grant date and stock-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of restricted shares is determined with reference to the fair value of the underlying shares. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the stock-based compensation changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period. Reclassification Prior to the deconsolidation of Micronet, Micronet had been taking active steps to sell its building within the year 2021. The company reclassified the related assets which were previously included in property and equipment, net and intangible assets, net to held-for-sale as of December 31, 2020.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	Note 3 — Stockholders’ Equity On November 2, 2020 the Company entered into a Securities Purchase Agreement (the “Purchase Agreement” or the “Securities Purchase Agreement”) with certain investors (the “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 sold in a registered direct offering, an aggregate of 10,000,000 units (each, a “Unit”), with each Unit consisting of one share of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and one warrant to purchase 0.8 of one share of Common Stock (each, a “Warrant”). 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. By December 31, 2020, the Company had received a total of $22.325 million in gross proceeds pursuant to Offering and issued in the aggregate, 7,600,000 Units. The remaining gross proceeds, in the additional aggregate amount of $2.675 million, were received by the Company on March 1, 2021 and in consideration for such proceeds, the Company issued the remaining 2,400,000 units. On February 11, 2021, the Company announced that it has entered into a Securities Purchase Agreement (the “February Purchase Agreement”) with certain institution investors for the sale of (i) 22,471,904 shares of common stock, (ii) 22,471,904 Series A Warrants to purchase 22,471,904 shares of common stock and (iii) 11,235,952 Series B Warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $2.67 (the “February Offering”). The gross proceeds to the Company from the February Offering were expected to be approximately $60.0 million. The Series A Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire five and one-half years from the date of issuance. The Series B Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire three and one-half years from the date of issuance. The Company received net proceeds of $54.0 million on February 16, 2021 after deducting the Placement Agent’s fees and other expenses. On March 2, 2021, the Company entered into a securities purchase agreement (“March Securities Purchase Agreement”) with certain investors for the purpose of raising approximately $54.0 million in gross proceeds for the Company. Pursuant to the terms of the March Securities Purchase Agreement, the Company agreed to sell, in a registered direct offering, an aggregate of 19,285,715 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $2.675 per Share and in a concurrent private placement, warrants to purchase an aggregate of 19,285,715 shares of common stock, at a purchase price of $0.125 per Warrant, for a combined purchase price per Share and Warrant of $2.80 (the “Purchase Price”) which was priced at the market under Nasdaq rules. The Warrants are immediately exercisable at an exercise price of $2.80 per share, subject to adjustment, and expire five years after the issuance date. The closing date for the transaction consummated under the March Securities Purchase Agreement was on March 4, 2021. The Company received net proceeds of $48.69 million on March 4, 2021, after deducting the Placement Agent’s fees and other expenses. On May 17, 2021, the Company’s Board of Directors (the “Board”) unanimously approved a grant of fully vested 6,000,000 shares of common stock (the “Shares”) to Mr. Darren Mercer, the Company’s Chief Executive Officer. The issuance of the Shares is pursuant to the Company’s Long Term Incentive Plan as previously approved by the stockholders and negotiated in connection with the Company’s acquisition of Global Fintech Holdings Limited. The Board unanimously agreed to issue the Shares in recognition of Mr Mercer’s direct contribution to achieving numerous key deliverables including: (i) the completion of several acquisitions, including those of Beijing Fucheng Insurance Brokerage Co., Ltd and Magpie Securities Ltd; (ii) obtaining regulatory approval from the Hong Kong SFC regarding the acquisition of Magpie Securities Ltd; (iii) the signing of several major commercial contracts and partnerships, including with a number of major insurance agents and one of China’s largest payment service providers; (iv) the signing of an exclusive partnership with the Shanghai Petroleum and Natural Gas Trading Center to allow MICT to provide financial services to its customers; (v) the successful launch of the insurance business in December 2020 and the delivery of significant revenues and revenue growth in Q1 2021; and (vi) the completion of capital raises totaling in excess of $140 million and broadening the Company’s institutional investor base. On May 17, 2021, the Board of MICT unanimously approved a grant of fully vested 300,000 shares of common stock of the Company to Richard Abrahams, the Magpie’s Chief Executive Officer. Our 2012 Stock Incentive Plan (the “2012 Incentive Plan”) was initially adopted by the Board on November 26, 2012 and approved by our stockholders on January 7, 2013 and subsequently amended on September 30, 2014, October 26, 2015, November 15, 2017 and November 8, 2018. Under the 2012 Incentive Plan, as amended, up to 5,000,000 shares of our common stock, are currently authorized to be issued pursuant to option awards granted thereunder. On May 17, 2021, May 23, 2021 and June 28, 2021, the Company granted an aggregate of 125,000, 370,000 and 245,000 options under the 2012 Stock Incentive Plan, with an exercise price of $1,41, $1.81 and $2.49, respectively, of which 310,000 options vested as of June 30, 2021, resulting in an stock-based compensation expense of approximately $458,000 recorded for the six months ended June 30, 2021, based on a fair value determined using a Black-Scholes model. On March 22, 2021, 20,000 shares of common stock were issued to an employee from exercising of options at an exercise price of $1.41.

Equity Investment in Micronet

Equity Investment in Micronet	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
EQUITY INVESTMENT IN MICRONET	NOTE 4 — EQUITY INVESTMENT IN MICRONET Micronet’s net revenues and net loss are presented if the acquisition date had occurred at the beginning of the annual reporting period. Six months ended Three months ended 2020 2020 USD USD (Unaudited) (Unaudited) Net revenues $ 1,089 $ 472 Net loss (3,952 ) (882 ) 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 887 Total Purchase Consideration $ 887 Less: Debt-free net working capital $ 788 Property and equipment 661 Right of use assets 310 Other assets 26 Borrowings (1,675 ) Severance payable (95 ) Lease liabilities (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 Loss of control of Micronet As of March 31, 2021, the Company held 50.31% of Micronet Ltd. (or “Micronet”) issued and outstanding shares. On May 9, 2021, following exercise of options by minority stockholders, the Company’s ownership interest was diluted to 49.88% and as a result the Company is no longer required to include Micronet’s operating results in its financial statements. Therefore, commencing from May 9, 2021, the Company accounted for the investment in Micronet in accordance with the equity method. On June 16, 2021, (“Micronet”) announced that it has completed a public equity offering (the “Offering”) on the TASE. Pursuant to the Offering, Micronet sold an aggregate number of 18,400 securities units (the “Units”) at a price of 14.6 NIS per Unit with each Unit consisting of 100 ordinary shares, 25 series A options and 75 series B options, resulting in the issuance of 1,840,000 ordinary shares, 460,000 series A options and 1,380,000 series B options. Micronet raised total gross proceeds of 26,864,000 NIS (approximately $8,290,000) in the Offering. The Company did not participate in the Offering, and, as a result, the Company owned 36.95% of the outstanding ordinary shares of Micronet and 26.56% on a fully diluted basis as of June 30, 2021. May 9, USD (Unaudited) Micronet’s fair value as of May 9, 2021 1,127 Net assets (6,185 ) Capital reserve from currency translation 134 Non-controlling interests 2,990 Net loss from loss of control 1,934

Loan to Micronet

Loan to Micronet	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
LOAN TO MICRONET	NOTE 5 — LOAN TO MICRONET 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”). The Convertible Loan bears interest at a rate of 3.95% calculated and is paid on a quarterly basis. In addition, the Convertible Loan, if not converted, shall be repaid in four equal installments, the first of such installment payable following the fifth quarter after the issuance of the Convertible Loan, with the remaining three installments due on each subsequent quarter thereafter, such that the Convertible Loan shall be repaid in full upon the lapse of 24 months from its grant. In addition, the outstanding principal balance of the Convertible Loan, and all accrued and unpaid interest, is convertible at the Company’s option, at a conversion price equal to 0.38 NIS per Micronet share. Pursuant to the Convertible Loan agreement, Micronet also agreed to issue the Company an option to purchase up to one of Micronet’s ordinary shares for each ordinary share that it issued as a result of a conversion of the Convertible Loan (“Convertible Loan Warrant”), at an exercise price of 0.60 NIS per share, exercisable for a period of 15 months. On July 5, 2020, the Company had a reverse split where the price of the Convertible Loan changed from 0.08 NIS per Micronet share into 5.7 NIS per Micronet share. The option’s exercised price was changed from 0.6 NIS per share to 9 NIS per Micronet share. 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. On August 13, 2020, MICT Telematics extended to Micronet an additional loan in the aggregate amount of $175,000 (the “Third Loan” and the “Loan Sum”, respectively) which governing the existing outstanding intercompany debt. The Third Loan does not bear any interest and is provided for a period of twelve months. The Loan Sum was granted for the purpose of supporting Micronet’s working capital and general corporate needs.

GFH Intermediate Holdings Ltd (

GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition	6 Months Ended
	Jun. 30, 2021
Gfh Intermediate Holdings Ltd Gfhi Acquisition [Abstract]
GFH INTERMEDIATE HOLDINGS LTD (“GFHI”) ACQUISITION	NOTE 6 — GFH Intermediate Holdings Ltd (“GFHI”) Acquisition On July 1, 2020, MICT completed its acquisition of GFHI 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. As a result of the acquisition goodwill and intangible assets were created. GFHI’s net revenues and net loss are presented if the Company’s acquisition date had occurred at the beginning of the annual reporting period. Six months ended June 30, Three months 2020 2020 USD USD (Unaudited) (Unaudited) Net revenues $ - $ - Net loss (2,410 ) (103 ) 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.

Beijing Fucheng Lianbao Technol

Beijing Fucheng Lianbao Technology Co., Ltd Transaction	6 Months Ended
	Jun. 30, 2021
Beijing Fucheng Lianbao Technology Co Ltd Transaction [Abstract]
BEIJING FUCHENG LIANBAO TECHNOLOGY CO., LTD TRANSACTION	NOTE 7 — BEIJING FUCHENG LIANBAO TECHNOLOGY CO., LTD TRANSACTION On February 10, 2021, the Company closed a transaction pursuant to which it acquired (via Beijing Fucheng in which it holds 24% and engaged in a VIE structure) all of the shares of Beijing Yibao Technology Co., Ltd., and indirectly its fully owned subsidiary Beijing Fucheng Insurance Brokerage Co., Ltd. (the “Fucheng Insurance Transaction”). 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: Beijing Fucheng Lianbao Technology Co., Ltd transaction, Purchase Price Allocation (USD in thousands) (Unaudited) Total cash consideration 5,711 Total Purchase Consideration $ 5,711 Less: Net working capital $ 926 Property and equipment 26 License 4,814 Current liabilities (55 ) Fair value of net assets acquired $ 5,711

Segments

Segments	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
SEGMENTS	NOTE 8 — SEGMENTS ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments. Operating segments are based upon our internal organization structure, the manner in which our operations are managed and the availability of separate financial information. As a result of our acquisition of GFHI on July 1, 2020, we currently serve the markets, through our operating subsidiaries, as a financial technology company (Fintech Industry) aiming and targeting the significant China marketplace and other areas of the world. We have built and/or in the process of building various platforms to capitalize on business opportunities in a range of verticals and technology segments, including: stock trading and wealth management; oil and gas trading; and insurance brokerage. We will continue to add to the capabilities of such platforms through acquisition and/or the license of technologies to support these efforts in the different market segments. By building secure, reliable and scalable platforms with high volume processing capability, we intend to provide customized solutions that address the needs of a highly diverse and broad client base. As stated above, we have two operating segments: verticals technology segments in the Fintech Industry operated by GFHI. These segments include the following: (i) insurance brokerage segment - we have launched our insurance platform operated by GFHI for the Chinese market and from that day onward, we have been generating revenues in GFHI. While the revenues were not material in 2020, these revenues are building and we expect these revenues to grow considerably during 2021 as this business establishes itself in the market as a reputable service available to consumers (ii) online stock trading segment. We are currently in the process of launching our securities trading software platform and accelerating the development and business of this segment. This is supported and enabled due to the recent completion of the acquisition of Magpie Securities, Limited (formerly: Huapei) on February 26, 2021 which as a result of such acquisition, we have obtained via our subsidiary licenses and permits to operate our online platform in the Hong Kong stock exchange. Further, we are currently in the process of developing and is looking to partner with a significant Chinese organization to build an oil and gas trading technology platform supporting two major elements of China’s energy sector. During the period between June 23, 2020, and May 9, 2021 we have held a controlling interest in Micronet, we have presented our mobile resource management (“MRM”) business operated by Micronet as a segment. As of May 9, 2021, the Company’s ownership interest were diluted and as a result it no longer include Micronet’s operating results in its financial statements. The following table summarizes the financial performance of our operating segments: Six months ended June 30, 2021 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ 20,550 726 - $ 21,276 Segment operating loss (4,883 ) (1) (827 ) (2) (1,956 ) (7,666 ) Non allocated expenses (13,686 ) Finance expenses and other (2,289 ) Consolidated loss before provision for income taxes $ (23,641 ) (1) Includes $1,466 of intangible assets amortization, derived from GFHI. acquisitions. (2) Includes $103 of intangible assets amortization, derived from Micronet consolidation. Six months ended June 30, 2020 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ - - - $ - Segment operating loss - - - - Non allocated expenses (1,438 ) Finance expenses and other 36 Consolidated loss before provision for income taxes $ (1,402 ) Three months ended June 30, 2021 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ 12,341 - - $ 12,341 Segment operating loss (2,916 ) (1) - (1,956 ) (4,872 ) Non allocated expenses (11,697 ) Finance expenses and other (1,810 ) Consolidated loss before provision for income taxes $ (18,379 ) (1) Includes $733 of intangible assets amortization, derived from GFHI. acquisitions. Three months ended June 30, 2020 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ - - - $ - Segment operating loss - - - - Non allocated expenses (668 ) Finance expenses and other 900 Consolidated loss before provision for income taxes $ 232 The following table summarizes the financial statements of our balance sheet accounts of the segments: As of June 30, 2021 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Assets related to segments $ 25,315 (2) $ - 31,416 (4) $ 56,731 Non allocated Assets - - - 120,893 Liabilities related to segments (18,898 )(3) - (247 ) (19,145 ) Non allocated liabilities - - - (2,719 ) Total Equity $ 155,760 (2) Includes $13,740 of intangible assets and $24,602 goodwill, derived from GFHI’s acquisition. (3) Includes $3,513 of deferred tax liability, derived from GFHI acquisition. (4) Includes $939 of intangible assets. As of December 31, 2020 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Assets related to segments $ 7,037 $ 7,017 - $ 14,054 Non allocated Assets - - - 63,679 Liabilities related to segments (638 ) (2,861 ) - (3,499 ) Non allocated liabilities - - - (8,538 ) Total Equity $ 65,696

Intengable Assets

Intengable Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTENGABLE ASSETS	NOTE 9 — INTENGABLE ASSETS (USD in thousands) Useful life June 30, December 31, years 2021 2020 Original amount: (Unaudited) (Unaudited) Technology know-how 5-6 $ 11,490 $ 13,070 Trade name/ trademarks 5-10 597 850 Customer relationship 5-6 4,500 4,910 License 5,735 - Software 102 - 22,424 18,830 Accumulated amortization: Technology know-how (1,915 ) (1,116 ) trade name/ trademarks (116 ) (71 ) Customer related intangible assets (900 ) (484 ) (2,931 ) (1,671 ) Net $ 19,493 $ 17,159

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2021
Credit Loss, Additional Improvements [Abstract]
TRADE ACCOUNTS RECEIVABLE, NET	NOTE 10 — TRADE ACCOUNTS RECEIVABLE, NET As of June 30, 2021 and December 31, 2020, accounts receivable were comprised of the following: June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Trade accounts receivable $ 16,052 $ 528 Allowance for doubtful accounts - (5 ) $ 16,052 $ 523 Movement of allowance for doubtful accounts for the six months ended June 30, 2021 and the fiscal year ended December 31, 2020 are as follows: June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Beginning balance $ 5 $ 116 Provision (recovery) - (111 ) Decrease due to deconsolidation of Micronet (5 ) - $ - $ 5

Other Current Assets

Other Current Assets	6 Months Ended
	Jun. 30, 2021
Other Current Assets [Abstract]
OTHER CURRENT ASSETS	NOTE 11 — OTHER CURRENT ASSETS June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Prepaid expenses $ 1,965 $ 1,300 Advance to suppliers 6 230 Government departments and agencies receivables 63 67 Prepaid tax 83 92 Others 197 67 $ 2,314 $ 1,756

Related parties

Related parties	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTIES	NOTE 12 — RELATED PARTIES Current assets – related parties June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Short term loan to Micronet $ 200 $ - Convertible loan to Micronet 530 - Shareholders of Guangxi Zhongtong 500 - $ 1,230 $ - Current liabilities – related parties June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Yulan WU, legal representative of Beijing Fucheng $ - $ 156 Beijing Internet New Network Technology Development Co., Ltd - 7 $ - $ 163

Operating Leases

Operating Leases	6 Months Ended
	Jun. 30, 2021
Operating Leases [Abstract]
OPERATING LEASES	NOTE 13 — OPERATING LEASES The Company follows ASC No. 842, Leases. The Company has operating leases for its office facilities. The Company’s leases have remaining terms of approximately 4 years. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company does not separate non-lease components from the lease components to which they relate, and instead accounts for each separate lease and non-lease component associated with that lease component as a single lease component for all underlying asset classes. The following table provides a summary of leases by balance sheet location as of June 30, 2021 and December 31, 2020: Assets/liabilities June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Assets Right-of-use assets $ 2,689 $ 291 Liabilities Lease liability $ 2,533 $ 164 The operating lease expenses for the six and three months ended June 30, 2021 and 2020 were as follows: (USD in thousands) Six months ended Three months ended 2021 2020 2021 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Operating lease cost $ 530 $ 45 $ 229 $ 23 Maturities of operating lease liabilities at June 30, 2021 were as follows: Maturity of lease liabilities (USD in thousands) 12 months ending June 30, Operating (Unaudited) 2022 $ 1,171 2023 896 2024 272 2025 2 $ 2,341 Lease term and discount rate June 30, (Unaudited) Weighted-average remaining lease term (years) – operating leases 2 Weighted average discount rate – operating leases 6 %

Provision for Income Taxes

Provision for Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	NOTE 14 — PROVISION FOR INCOME TAXES A. Basis of Taxation United States: On December 22, 2017, the U.S. Tax Cuts and Jobs Act, or the Act, was enacted, which significantly changed U.S. tax laws. The Act lowered the tax rate of the Company. The statutory federal income tax rate was 21% in 2019 and in the six months ended June 30, 2021 and 2020. Israel: The Company’s Israeli subsidiaries and associated are governed by the tax laws of the state of Israel which had a general tax rate of 23% in the six months ended June 30, 2021 and 2020. The Company is entitled to various tax benefits in Israel by virtue of being granted the status of an “Approved Enterprise Industrial Company” as defined by the tax regulations. The benefits include, among other things, a reduced tax rate. In addition, the tax rate that applies to Preferred Enterprises in preferred areas is 16%. China: The Company’s Chinese subsidiary in the PRC are subject to the PRC Corporate Income Tax Law (“CIT Law”) and are taxed at the statutory income tax rate of 25%. B. Provision for Taxes (USD in thousands) Six months ended Three months ended 2021 2020 2021 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Current Domestic $ 43 $ - $ 43 $ - Foreign 31 6 180 5 Total $ 74 $ 6 $ 223 $ 5 Deferred Domestic $ - $ - $ - $ - Foreign (413 ) - (206 ) - Total $ (413 ) $ - $ (206 ) $ - C. Deferred Tax Assets and Liabilities Deferred tax reflects the net tax effects of temporary differences between the carrying amounts of assets or liabilities for financial reporting purposes and the amounts used for income tax purposes. As of June 30, 2021 and December 31, 2020, deferred tax assets were included in long-term deposit and prepaid expenses, and the Company’s deferred taxes were in respect of the following: June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Deferred tax assets Provisions for employee rights and other temporary differences $ - $ 129 Net operating loss carry forward 14,630 9,564 Valuation allowance (14,500 ) (9,564 ) Deferred tax assets, net of valuation allowance 130 129 Deferred tax liabilities Recognition of intangible assets arising from business combinations 3,513 4,256 Deferred tax assets and liabilities, net $ (3,383 ) $ (4,127 )

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	NOTE 15 — LEGAL PROCEEDINGS In March 2017, MICT entered into the Sunrise Agreement with Sunrise through Sunrise’s principal, Amnon Mandelbaum, pursuant to which Sunrise agreed to assist MICT in identifying, analyzing, structuring, and negotiating suitable business opportunities, such as a sale of stock or assets, merger, tender offer, joint venture, financing arrangement, private placement, or any similar transaction or combination thereof. The parties initially disagreed as to the amount of the fee that would be payable upon the closing of the transactions contemplated by the Reinstated Merger Agreement. There were also questions about the applicability of the Sunrise Agreement to the Merger, and whether or not Sunrise is properly owed any transaction fee upon the closing of the Merger. In order to resolve this matter, as of the date hereof, the parties have executed a settlement and release agreement for the release and waiver of the above claims in consideration for the issuance of freely tradable shares of common stock of MICT worth no less than $1,500,000 (the “Shares”), which Shares shall be delivered as follows: (i) 67.5% of the Shares to Amnon Mandelbaum; (ii) 7.5% of the Shares to INTE Securities LLC; and (iii) 25% of the Shares to Amini LLC). In addition, by no later than February 16, 2021, MICT shall issue 200,000 warrants to purchase 200,000 freely tradable registered shares of Common Stock of MICT and deliver original copies of such warrants within five business days of the date of issuance of the warrants. The shares issuable upon exercise of the warrants shall be registered on a registration statement. 150,000 of these warrants shall be issued to Amnon Mandelbaum; 50,000 of these warrants shall be issued to Amini LLC, or its designee as named in writing. Each warrant shall be exercisable into one share of registered common stock of MICT until one year after the date of issuance the warrants at an exercise price of $1.01 per share, and in any other respects on the same material terms and conditions as are applicable to MICT’s current outstanding warrants including, but not limited to, cashless exercise at all times from the date of issuance of the warrants until to the expiration dates of the warrants, certain exercise price adjustments, and other terms as are no less favorable to MICT’s recently issued common stock purchase warrant agreements. MICT was not able to timely file a registration statement to register the shares, and shares underlying the warrants per the settlement agreement. The Sunrise parties notified MICT that it has breached the settlement agreement. Subsequently, on March 30, 2021, MICT and the Sunrise parties signed an amended settlement agreement whereby MICT has obligated to make a $1,000,000 payment by March 31, 2021 and the share dollar amount set forth above was reduced from $1,500,000 to $500,000. MICT made the $1,000,000 payment. Furthermore, if MICT is not able to file a registration statement with the SEC for the Shares by June 4, 2021, it was required to make a $600,000 payment to settle the matter in full and Sunrise will not receive any MICT shares. On July 1, 2021, MICT made the $600,000 payment since there was a disagreement as to whether or not the registration statement was timely filed. This matter with Sunrise is now fully settled. On September 22, 2020, the Company entered into a settlement and release agreement with Craig Marshak, or Marshak, in connection with a claim filed by Marshak against the Company and additional defendants. Pursuant to settlement and in consideration for a customary release and waiver for the benefit of MICT, MICT agreed to pay Marshak a sum of $125,000 in cash. Mr. Marshak then dismissed such claim. On January 15, 2021 the parties have executed an amendment to the settlement and release agreement for the payment to Marshak of $315,000 in exchange for the tender back of 60,000 of the Company’s share promised to Mr. Marshak as part of the settlement and release agreement. The $315,000 payment was made and this matter is settled in full. On December 31, 2017, MICT, Enertec Systems 2001 Ltd., (“Enertec Systems”), previously our wholly-owned subsidiary, and Enertec Management Ltd., (“Enertec Management”) entered into a Share Purchase Agreement (the “Share Agreement”), with Coolisys Technologies Inc., (“Coolisys”), a subsidiary of DPW Holdings, Inc., Per the Share Agreement, Coolisys agreed to pay, at the closing (“Closing”)of the transaction, a purchase price of $5,250,000 and assume up to $4,000,000 of Enertec Systems’ debt. On May 22, 2018, MICT closed on the sale of all of the outstanding equity of Enertec. Upon Closing, MICT received gross proceeds of approximately $4,700,000, of which 10% was to be held in escrow (“Escrow Amount’) for up to 14 months after the Closing in order to satisfy any potential indemnification claims. The final consideration amount was adjusted due to Enertec Systems; debts at the Closing. In addition, Coolisys also assumed approximately $4,000,000 of Enertec Systems’ debt. In conjunction with, and as a condition to, the Closing, the Company, Enertec Systems, Coolisys, DPW and Mr. David Lucatz, our former Chief Executive Officer and director, executed a consulting agreement, (“Consulting Agreement”). Pursuant to the Consulting Agreement, we, via Mr. Lucatz, provided Enertec Systems with certain consulting and transitional services over a 3 year period as necessary (but in no event to exceed 20% of Mr. Lucatz’s time). Coolisys (via Enertec Systems) paid us an annual consulting fee of $150,000 and issued to us 150,000 restricted shares of DPW Class A Common Stock, (the “DPW Shares”). The DPW Shares were issued in three equal installments, with the initial installment vesting the day after the Closing and the remaining installments vesting on each of the first two (2) anniversaries of the Closing. The rights and obligations under the Consulting Agreement were assigned back to Mr. Lucatz along with the DPW Shares. Coolisys alleged the Company was in breach of the Share Agreement, and the Escrow Amount remained in escrow. On July 21, 2020, MICT management and MICT (the “Seller Parties”) received a statement of claim filed in the District Court of Tel Aviv by Coolisys against the Seller Parties and its Board members in the amount of approximately $2,500,000, (the “Claim”). Pursuant to the Claim, Coolisys alleged that certain misrepresentations in the Share Agreement resulted in losses to Coolisys and requested, among other things, that the Court instruct the release of the Escrow Amount held by the escrow agent to Coolisys. The Company filed its defense to the Claim on December 15, 2020. Coolisys has asked for an extension to file its answer to our defense claim and the parties are currently negotiating the possibility of mediation prior to litigating the Claim in court. MICT has issued a notice of the Claim to its director and office insurance carrier seeking coverage. The insurance policies have been triggered, and the insurance companies are involved in the process. As of the date of hereof, the Escrow Amount remains in escrow, the annual consulting fee which the Company believes is due and payable by Coolisys (via Enertec Systems) under the Consulting Agreement have not been paid and certain shares of DPW due pursuant to the Consulting Agreement were never issued to MICT. As of June 30, 2021 and December 31, 2020, there were approximately $477,000 was held in escrow and was presented as restricted cash escrow included in the non-current assets as well as the long-term escrow included in the non-current liabilities on the unaudited condensed consolidated balance sheets.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 — SUBSEQUENT EVENTS On July 1, 2021, Bokefa, our fully owned subsidiary, entered into a transaction with the shareholders of All Weather Insurance Agency Co., Ltd (“All Weather”), a local Chinese entity with business and operations in the field of broker insurance. Pursuant to the transaction, we granted to the All Weather shareholders (the “Shareholders”) with a frame work loan (“Frame Work Loan”) in the total amount of up to RMB 30 million (approximately $4.7 million) (“Frame work Loan Amount”) which is designated, if exercised, to be used as working capital for All Weather. In consideration for the Frame Work Loan, the parties have entered into various additional agreements which include among other: (i) a pledge agreement pursuant to which the Shareholders have pledged their shares for the benefit of Bokefa in order to secure the amount drown from the Frame work Loan Amount (ii) exclusive option agreement pursuant to which Bokefa has an exclusive option to purchase the entire shares of All Weather from the Shareholders (“Option Agreement”) under such terms set forth in the Option Agreement which include an exercise price not less than the maximum Frame work Loan Amount and the right to convert the Frame work Loan Amount into the purchased shares (iii) Entrustment Agreement and Power of Attorney Agreement pursuant to which the Shareholders irrevocably entrusted and appointed Bokefa as its proxy and trustee to exercise on their behalf any and all rights under applicable law and the articles of association of All Weather in the Shareholder’s equity interest in All Weather (iv) business cooperation agreement and a master exclusive service agreement which grants Bokefa with rights related to the All Weather business and operations designed to secure repayment of the Loan Amount. The transaction above was structured pursuant to a Variable Interest Entity (VIE) Structure (pursuant to which we do not technically hold the shares) and as a result in view of our direct ownership in Bokefa and its contractual arrangements with All Weather, we are regarded as All Weather controlling entity and primary beneficiary of the All Weather business. In July 2021, our warrant holders exercised an aggregate of 784,562 warrants at an exercise price of $1.01, resulting in an issuance of an aggregate of 784,562 shares of common stock.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair presentation of the Company’s financial position, its results of operations and its cash flows, as applicable, have been made. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the Company’s December 31, 2020 annual report on Form 10-K filed on March 31, 2021. The Company’s operations and business may still be subject to adverse effect due to the unprecedented conditions surrounding the spread of COVID-19 throughout North America, Israel, China and the world. Although currently the COVID-19 (due to the measures implemented to reduce the spread of the virus) have not had a material adverse effect on the Company financial reports; there can be no assurance that Company’s financial reports will not be affected in the future from COVID-19 or resulting from restrictions and other government actions.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the U.S. GAAP.
Cash	Cash Cash consists of cash on hand, demand deposits and time deposits placed with banks or other financial institutions and have original maturities of less than three months.
Accounts receivable, net	Accounts receivable, net Accounts receivable include trade accounts due from customers. Accounts are considered overdue after thirty (30) days from payment due date. In establishing the required allowance for doubtful accounts, management considers historical collection experience, aging of the receivables, the economic environment, industry trend analysis, and the credit history and financial conditions of the customers. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. As of June 30, 2021 and December 31, 2020, allowance for doubtful accounts amounted to nil
Inventories	Inventories Inventories consisting raw materials are stated at the lower of cost (first-in, first-out basis) or realizable value. Cost of work in process is comprised of direct materials, direct production costs and an allocation of production overheads based on normal operating capacity.
Foreign currency translation and transaction	Foreign currency translation and transaction The reporting currency of the Company is the U.S. dollar. The Companies in China conducts their businesses in the local currency, Renminbi (RMB), as its functional currency. The Companies in Israel conducts their businesses in the local currency, New Israeli Shekel (NIS), as its functional currency. The Companies in Hong Kong conducts their businesses in the local currency, Hong Kong Dollar (HKD), as its functional currency. Assets and liabilities are translated at the noon buying rate in the City of New York for cable transfers of RMB , NIS and HKD as certified for customs purposes by the Federal Reserve Bank of New York at the end of the period. The statement of income accounts are translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income (loss). Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred.
Segment reporting	Segment reporting Accounting Standard Codification (“ASC”) Topic 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of certain members of the Company’s management team.
Operating leases	Operating leases The Company follows ASC No. 842, Leases. The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use assets (“ROU assets”) represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. ROU assets are reviewed for impairment when indicators of impairment are present. ROU assets from operating and finance leases are subject to the impairment guidance in ASC 360, Property, Plant, and Equipment, as ROU assets are long-lived nonfinancial assets. ROU assets are tested for impairment individually or as part of an asset group if the cash flows related to the ROU asset are not independent from the cash flows of other assets and liabilities. An asset group is the unit of accounting for long-lived assets to be held and used, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. The Company recognized no impairment of ROU assets as of June 30, 2021 and December 31, 2020. The operating lease is included in right-of-use assets and lease liability on the unaudited condensed consolidated balance sheets.
Investments	Investments The Company’s long-term investments consist of equity investments in privately held entities accounted for using the measurement alternative and equity investments accounted for using the equity method. On January 1, 2018, the Company adopted ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. According to the guidance, the Company accounts for the equity investments at fair value, with gains and losses recorded through net earnings. The Company elected to measure certain equity investments without readily determinable fair value at cost, less impairments, plus or minus observable price changes and assess for impairment quarterly. The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control, using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entity, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investments in a privately held entity, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary. As of June 30, 2021, the Company owned 36.95% of shares in Micronet which was accounted for under equity method. As of June 30, 2021, the Company owned 24% of shares in Beijing Fucheng and controlled the remaining 76% through contractual arrangements as discussed in Note 1. Beijing Fucheng was therefore 100% consolidated in the unaudited condensed consolidated financial statements.
Fair value measurement	Fair value measurement The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.
Intangible assets	Intangible assets The Company’s intangible assets with definite useful lives primarily consist of licensed software, capitalized development costs, platform system, and land-use rights. The Company amortizes its intangible assets with definite useful lives over their estimated useful lives and reviews these assets for impairment. The Company typically amortizes its intangible assets with definite useful lives on a straight-line basis over the shorter of the contractual terms or the estimated useful lives. The Company did not record any impairment of intangible assets as of June 30, 2021 and December 31, 2020. Intangible assets are stated at cost less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Useful Life Licensed & software indefinite useful life Technology know-how 6 years Trade name/ trademarks 5 years Customer relationship 5 years
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition of a business. We test goodwill for impairment annually in the fourth quarter and when events or changes in circumstances indicate that the fair value of a reporting unit with goodwill has been reduced below its carrying value. On January 26, 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The standard simplifies the accounting for goodwill impairment by requiring a goodwill impairment to be measured using a single step impairment model, whereby the impairment equals the difference between the carrying amount and the estimated fair value of the specified reporting units in their entirety. This eliminated the second step of the previous impairment model that required companies to first estimate the fair value of all assets in a reporting unit and measure impairments based on those estimated fair values and a residual measurement approach. It also specifies that any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company did not record any impairment of goodwill as of June 30, 2021 and December 31, 2020.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in our consolidated financial statements include the useful lives of plant and equipment and intangible assets, capitalized development costs, impairment of long-lived assets, allowance for doubtful accounts, revenue recognition, allowance for deferred tax assets and uncertain tax position. Actual results could differ from these estimates.
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, or ASU 2014-09. ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. We adopted Topic 606 on January 1, 2018 using the modified retrospective transition method, and the adoption did not have a material impact on our consolidated financial statements. We recognize revenue which represents the transfer of goods and services to customers in an amount that reflects the consideration to which we expect to be entitled in such exchange. We identify contractual performance obligations and determines whether revenue should be recognized at a point in time or over time, based on when control of goods and services are provided to customers. We use a five-step model to recognize revenue from customer contracts. The five-step model requires us to (i) identify the contract with the customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur; (iv) allocate the transaction price to the respective performance obligations in the contract; and (v) recognize revenue when (or as) we satisfy the performance obligation. We derive our revenues from sales contracts with our customers with revenues being recognized upon performance of services. Our contracts with customers generally do not include a general right of return relative to the delivered products or services. We applied practical expedient when sales taxes were collected from customers, meaning sales tax is recorded net of revenue, instead of cost of revenue, which are subsequently remitted to governmental authorities and are excluded from the transaction price. With respect to Micronet applicable revenue recognition U.S. GAAP requirements, Micronet implements a revenue recognition policy pursuant to which it recognizes its revenues at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products are transferred to its customers. There is limited discretion needed in identifying the point control passes: once physical delivery of the products to the agreed location has occurred, Micronet no longer has physical possession of the product and will be entitled at such time to receive payment while relieved from the significant risks and rewards of the goods delivered. For most of Micronet’s products sales, control transfers when products are shipped. The Company’s revenues are generated from: a) providing customers with marketing promotion and information drainage services, which is to charge information service fees according to the customer traffic information provided to customers with business needs; b) to providing insurance brokerage services or insurance agency services on behalf of insurance carriers. With respect to the information drainage services and insurance brokerage services applicable to revenue recognition U.S. GAAP requirements, the company implements a revenue recognition policy pursuant to which it recognizes its revenues at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products are transferred to its customers. Our performance obligation to the insurance carrier is satisfied and commission revenue is recognized at the point in time when an insurance policy becomes effective. The Company provides customers with information drainage services and settles service charges with customers on the monthly basis. Performance obligation is satisfied overtime during the contract term. In accordance with ASC 606-10-55, Revenue Recognition: Principal Agent Considerations, the Company considers several factors in determining whether it acts as the principal or as an agent in the arrangement of merchandise sales and provision of various related services and thus whether it is appropriate to record the revenues and the related cost of sales on a gross basis or record the net amount earned as service fees. For insurance brokerage services, we have identified our promise to sell insurance policies on behalf of the insurance carriers as the performance obligation in our contracts with the insurance carriers.
Income Taxes	Income Taxes Deferred taxes are determined utilizing the “asset and liability” method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and the tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, when it’s more likely than not that deferred tax assets will not be realized in the foreseeable future. The Company applied FASB ASC Topic 740-10-25, “Income Taxes,” which provides guidance for recognizing and measuring uncertain tax positions and prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Company’s policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expense. MICT and its subsidiaries and VIEs within the jurisdiction of the United States, Israel and China are subject to a tax examination for the most recent three, four and five years, respectively.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation granted to the Company’s employees and consultants are measured at fair value on grant date and stock-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of restricted shares is determined with reference to the fair value of the underlying shares. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the stock-based compensation changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period.
Reclassification	Reclassification Prior to the deconsolidation of Micronet, Micronet had been taking active steps to sell its building within the year 2021. The company reclassified the related assets which were previously included in property and equipment, net and intangible assets, net to held-for-sale as of December 31, 2020.

Description of Business (Tables

Description of Business (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of assets and liabilities	June 30, USD (Unaudited) Current assets: Cash $ 1,665 Trade accounts receivable, net 10,535 Other current assets 721 Total current assets 12,921 Property and equipment, net $ 110 Long-term prepaid expenses $ 32 Goodwill 4,885 Total long-term assets $ 5,027 Total assets $ 17,948 Current liabilities: Trade accounts payable 10,779 Other current liabilities $ 1,324 Total current liabilities $ 12,103 Total liabilities $ 12,103
Schedule of net revenues, loss from operations and net loss	For the For the June 30, June 30, 2021 2021 USD USD (Unaudited) (Unaudited) Net revenues $ 8,045 $ 14,265 Loss from operations $ (979 ) $ (1,093 ) Net loss $ (900 ) $ (1,101 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of estimated useful lives	Useful Life Licensed & software indefinite useful life Technology know-how 6 years Trade name/ trademarks 5 years Customer relationship 5 years

Equity Investment in Micronet (

Equity Investment in Micronet (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Schedule of net revenues and net Loss	Six months ended Three months ended 2020 2020 USD USD (Unaudited) (Unaudited) Net revenues $ 1,089 $ 472 Net loss (3,952 ) (882 )
Schedule of purchase price of acquisition	Total cash consideration 887 Total Purchase Consideration $ 887 Less: Debt-free net working capital $ 788 Property and equipment 661 Right of use assets 310 Other assets 26 Borrowings (1,675 ) Severance payable (95 ) Lease liabilities (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
Schedule of outstanding ordinary shares of micronets	May 9, USD (Unaudited) Micronet’s fair value as of May 9, 2021 1,127 Net assets (6,185 ) Capital reserve from currency translation 134 Non-controlling interests 2,990 Net loss from loss of control 1,934

GFH Intermediate Holdings Ltd_2

GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition (Tables)	6 Months Ended
	Jun. 30, 2021
Gfh Intermediate Holdings Ltd Gfhi Acquisition [Abstract]
Schedule of GFHI's net revenue and net Loss	Six months ended June 30, Three months 2020 2020 USD USD (Unaudited) (Unaudited) Net revenues $ - $ - Net loss (2,410 ) (103 )
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

Beijing Fucheng Lianbao Techn_2

Beijing Fucheng Lianbao Technology Co., Ltd Transaction (Tables)	6 Months Ended
	Jun. 30, 2021
Beijing Fucheng Lianbao Technology Co Ltd Transaction [Abstract]
Schedule of purchase price of acquisition	(Unaudited) Total cash consideration 5,711 Total Purchase Consideration $ 5,711 Less: Net working capital $ 926 Property and equipment 26 License 4,814 Current liabilities (55 ) Fair value of net assets acquired $ 5,711

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of the financial statements of balance sheet accounts of the segment	Six months ended June 30, 2021 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ 20,550 726 - $ 21,276 Segment operating loss (4,883 ) (1) (827 ) (2) (1,956 ) (7,666 ) Non allocated expenses (13,686 ) Finance expenses and other (2,289 ) Consolidated loss before provision for income taxes $ (23,641 ) Six months ended June 30, 2020 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ - - - $ - Segment operating loss - - - - Non allocated expenses (1,438 ) Finance expenses and other 36 Consolidated loss before provision for income taxes $ (1,402 ) Three months ended June 30, 2021 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ 12,341 - - $ 12,341 Segment operating loss (2,916 ) (1) - (1,956 ) (4,872 ) Non allocated expenses (11,697 ) Finance expenses and other (1,810 ) Consolidated loss before provision for income taxes $ (18,379 ) Three months ended June 30, 2020 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues from external customers $ - - - $ - Segment operating loss - - - - Non allocated expenses (668 ) Finance expenses and other 900 Consolidated loss before provision for income taxes $ 232
Schedule of the financial statements of balance sheet accounts of the segment	As of June 30, 2021 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Assets related to segments $ 25,315 (2) $ - 31,416 (4) $ 56,731 Non allocated Assets - - - 120,893 Liabilities related to segments (18,898 )(3) - (247 ) (19,145 ) Non allocated liabilities - - - (2,719 ) Total Equity $ 155,760 As of December 31, 2020 (USD in thousands) Verticals Mobile Online Consolidated (Unaudited) (Unaudited) (Unaudited) (Unaudited) Assets related to segments $ 7,037 $ 7,017 - $ 14,054 Non allocated Assets - - - 63,679 Liabilities related to segments (638 ) (2,861 ) - (3,499 ) Non allocated liabilities - - - (8,538 ) Total Equity $ 65,696

Intengable Assets (Tables)

Intengable Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intengable Assets	(USD in thousands) Useful life June 30, December 31, years 2021 2020 Original amount: (Unaudited) (Unaudited) Technology know-how 5-6 $ 11,490 $ 13,070 Trade name/ trademarks 5-10 597 850 Customer relationship 5-6 4,500 4,910 License 5,735 - Software 102 - 22,424 18,830 Accumulated amortization: Technology know-how (1,915 ) (1,116 ) trade name/ trademarks (116 ) (71 ) Customer related intangible assets (900 ) (484 ) (2,931 ) (1,671 ) Net $ 19,493 $ 17,159

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Credit Loss, Additional Improvements [Abstract]
Schedule of accounts receivable	June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Trade accounts receivable $ 16,052 $ 528 Allowance for doubtful accounts - (5 ) $ 16,052 $ 523
Schedule of allowance for doubtful accounts	June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Beginning balance $ 5 $ 116 Provision (recovery) - (111 ) Decrease due to deconsolidation of Micronet (5 ) - $ - $ 5

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Other Current Assets [Abstract]
Schedule of other current assets	June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Prepaid expenses $ 1,965 $ 1,300 Advance to suppliers 6 230 Government departments and agencies receivables 63 67 Prepaid tax 83 92 Others 197 67 $ 2,314 $ 1,756

Related parties (Tables)

Related parties (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of current assets-related parties	June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Short term loan to Micronet $ 200 $ - Convertible loan to Micronet 530 - Shareholders of Guangxi Zhongtong 500 - $ 1,230 $ - June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Yulan WU, legal representative of Beijing Fucheng $ - $ 156 Beijing Internet New Network Technology Development Co., Ltd - 7 $ - $ 163

Operating Leases (Tables)

Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Operating Leases [Abstract]
Schedule of leases by balance sheet	Assets/liabilities June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Assets Right-of-use assets $ 2,689 $ 291 Liabilities Lease liability $ 2,533 $ 164
Schedule of operating lease expenses	(USD in thousands) Six months ended Three months ended 2021 2020 2021 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Operating lease cost $ 530 $ 45 $ 229 $ 23
Schedule of maturities of operating lease liabilities	Maturity of lease liabilities (USD in thousands) 12 months ending June 30, Operating (Unaudited) 2022 $ 1,171 2023 896 2024 272 2025 2 $ 2,341
Schedule of lease term and discount rate	Lease term and discount rate June 30, (Unaudited) Weighted-average remaining lease term (years) – operating leases 2 Weighted average discount rate – operating leases 6 %

Provision for Income Taxes (Tab

Provision for Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of provision for taxes	(USD in thousands) Six months ended Three months ended 2021 2020 2021 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Current Domestic $ 43 $ - $ 43 $ - Foreign 31 6 180 5 Total $ 74 $ 6 $ 223 $ 5 Deferred Domestic $ - $ - $ - $ - Foreign (413 ) - (206 ) - Total $ (413 ) $ - $ (206 ) $ -
Schedu;e of deferred tax assets and liabilities, net	June 30, December 31, 2021 2020 USD USD (Unaudited) (Unaudited) Deferred tax assets Provisions for employee rights and other temporary differences $ - $ 129 Net operating loss carry forward 14,630 9,564 Valuation allowance (14,500 ) (9,564 ) Deferred tax assets, net of valuation allowance 130 129 Deferred tax liabilities Recognition of intangible assets arising from business combinations 3,513 4,256 Deferred tax assets and liabilities, net $ (3,383 ) $ (4,127 )

Description of Business (Detail

Description of Business (Details)

Feb. 10, 2021USD ($)

Jan. 02, 2021USD ($)

Jan. 02, 2021CNY (¥)

Oct. 11, 2020USD ($)shares

Oct. 02, 2020

Jun. 10, 2020USD ($)shares

Jun. 10, 2020ILS (₪)shares

Jun. 16, 2021USD ($)shares

Jun. 16, 2021ILS (₪)shares

Jun. 23, 2020USD ($)shares

Jun. 30, 2021USD ($)

Jun. 30, 2021CNY (¥)

Jun. 30, 2020

Description of Business (Details) [Line Items]

Business acquisitions, description

for a total purchase price of approximately $3.0 million (“Purchase Price”). Magpie is licensed to trade securities on leading exchanges in Hong Kong, the U.S. and China, including China A-Shares, all of which are the primary target markets for Company’s global fintech business. The Strategic Agreement provided that the acquisition shall be consummated in two phases, an initial purchase of 9% of the share capital of Magpie and thereafter, the remaining 91% of Magpie would be purchased by BI Intermediate upon, and subject to, the approval of 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, pursuant to the Strategic Agreement upon the initial closing, BI Intermediate loaned Magpie an amount equivalent to the remaining 91% of the Purchase Price. Upon 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 Magpie. The loan was secured against the pledge of the 91% of the share capital of Magpie yet purchased at such time by BI Intermediate. The obligations of Magpie, the seller of the interests of Magpie, under the loan agreement have been guaranteed by the ultimate shareholder of Magpie. On February 26, 2021 we completed the 100% acquisition of Magpie. The acquisition was consummated following the receipt of approval from the SFC effecting the change in the substantial shareholder of Magpie. In the consideration for the entire share capital of Magpie, we paid a total Purchase Price of $2.947 million (reflecting the net asset value of Magpie estimated at $2.034 million recorded as a working capital, and a premium $902 thousands that were recorded as a license in the Intangible assets).

MICT Telematics [Member]

Description of Business (Details) [Line Items]

Purchased shares

5,999,996

5,999,996

Aggregate proceeds | $

$ 515,000

Micronet [Member]

Description of Business (Details) [Line Items]

Purchased shares

520,600

10,334,000

Aggregate proceeds | ₪

₪ 1,800,000

Percentage of shares issued and outstanding

45.53%

45.53%

Total consideration amount (in Dollars) | $

$ 1,417,486

$ 887,000

Ownership interest in Micronet, diluted

49.88%

53.39%

Recognized gain (in Dollars) | $

$ 665,000

Ordinary shares

416,480

Convertible ordinary shares

416,480

Additional purchase

115,851

Tel Aviv Stock Exchange [Member]

Description of Business (Details) [Line Items]

Aggregate proceeds | $

$ 8,290,000

Percentage of shares issued and outstanding

36.95%

36.95%

Ordinary shares

100

100

Aggregrate Number Of Units

18,400

18,400

Issuance of ordinary shares

1,840,000

1,840,000

Gross proceeds (in New Shekels) | ₪

₪ 26,864,000

Basis diluted, percentage

26.56%

26.56%

Guangxi Zhongtong Insurance Agency Co., Ltd [Member]

Description of Business (Details) [Line Items]

Frame work loan amount

$ 6,125,000

¥ 40,000,000

Working capital

$ 275,000

¥ 1,800,000

Frame work for working capital (in Dollars) | $

$ 500,000

Beijing Fucheng Lianbao Technology Co Ltd [Member]

Description of Business (Details) [Line Items]

Equity interest

24.00%

Share acquired price (in Dollars) | $

$ 5,700,000

Beijing Fucheng Lianbao Technology Co Ltd [Member] | Beijing Fucheng Insurance Brokerage Co., Ltd [Member]

Description of Business (Details) [Line Items]

Equity interest

100.00%

Beijing Fucheng Lianbao Technology Co Ltd [Member] | Variable interest entity [Member]

Description of Business (Details) [Line Items]

Equity interest

76.00%

76.00%

Maximum [Member] | Micronet [Member]

Description of Business (Details) [Line Items]

Ownership interest in Micronet, diluted

53.39%

Minimum [Member] | Micronet [Member]

Description of Business (Details) [Line Items]

Ownership interest in Micronet, diluted

50.31%

Series A Options [Member] | Tel Aviv Stock Exchange [Member]

Description of Business (Details) [Line Items]

Ordinary shares

25

25

Issuance of ordinary shares

460,000

460,000

Series B Options [Member] | Tel Aviv Stock Exchange [Member]

Description of Business (Details) [Line Items]

Ordinary shares

75

75

Issuance of ordinary shares

1,380,000

1,380,000

Description of Business (Deta_2

Description of Business (Details) - Schedule of assets and liabilities - VIE [Member] $ in Thousands	Jun. 30, 2021USD ($)
Current assets:
Cash	$ 1,665
Trade accounts receivable, net	10,535
Other current assets	721
Total current assets	12,921
Property and equipment, net	110
Long-term prepaid expenses	32
Goodwill	4,885
Total long-term assets	5,027
Total assets	17,948
Current liabilities:
Trade accounts payable	10,779
Other current liabilities	1,324
Total current liabilities	12,103
Total liabilities	$ 12,103

Description of Business (Deta_3

Description of Business (Details) - Schedule of net revenues, loss from operations and net loss - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Schedule of net revenues, loss from operations and net loss [Abstract]
Net revenues	$ 8,045	$ 14,265
Loss from operations	(979)	(1,093)
Net loss	$ (900)	$ (1,101)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
Allowance for doubtful accounts (in Dollars)		$ 5,000
Equity method percentage	36.95%
Beijing Fucheng [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Equity method percentage	24.00%
Contractual arrangements percentage	76.00%
Financial statements percentage	100.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives	6 Months Ended
	Jun. 30, 2021
Schedule of estimated useful lives [Abstract]
Licensed & software	indefinite useful life
Technology know-how	6 years
Trade name/ trademarks	5 years
Customer relationship	5 years

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Mar. 02, 2021	Feb. 11, 2021	Nov. 02, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Jun. 30, 2021$ / shares	May 17, 2021USD ($)shares	Nov. 13, 2019₪ / shares
Stockholders' Equity (Details) [Line Items]
Common stock, par value (in Dollars per share) | $ / shares				$ 0.001	$ 0.001
Exercise price (in Dollars per share) | ₪ / shares							₪ 0.60
Preferred stock exchange agreements, description		the Company announced that it has entered into a Securities Purchase Agreement (the “February Purchase Agreement”) with certain institution investors for the sale of (i) 22,471,904 shares of common stock, (ii) 22,471,904 Series A Warrants to purchase 22,471,904 shares of common stock and (iii) 11,235,952 Series B Warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $2.67 (the “February Offering”). The gross proceeds to the Company from the February Offering were expected to be approximately $60.0 million. The Series A Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire five and one-half years from the date of issuance. The Series B Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire three and one-half years from the date of issuance. The Company received net proceeds of $54.0 million on February 16, 2021 after deducting the Placement Agent’s fees and other expenses.
Excess capital (in Dollars) | $						$ 140,000
Stock incentive plan, description					the Board on November 26, 2012 and approved by our stockholders on January 7, 2013 and subsequently amended on September 30, 2014, October 26, 2015, November 15, 2017 and November 8, 2018. Under the 2012 Incentive Plan, as amended, up to 5,000,000 shares of our common stock, are currently authorized to be issued pursuant to option awards granted thereunder. On May 17, 2021, May 23, 2021 and June 28, 2021, the Company granted an aggregate of 125,000, 370,000 and 245,000 options under the 2012 Stock Incentive Plan, with an exercise price of $1,41, $1.81 and $2.49, respectively, of which 310,000 options vested as of June 30, 2021, resulting in an stock-based compensation expense of approximately $458,000 recorded for the six months ended June 30, 2021, based on a fair value determined using a Black-Scholes model. On March 22, 2021, 20,000 shares of common stock were issued to an employee from exercising of options at an exercise price of $1.41.
Purchase Agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate gross proceeds (in Dollars) | $			$ 25,000	$ 22,325
Shares issued of common stock			10,000,000
Common stock, par value (in Dollars per share) | $ / shares			$ 0.001
Purchase price per unit (in Dollars per share) | $ / shares			2.50
Exercise price (in Dollars per share) | $ / shares			$ 3.12
Warrant expire			5 years
Aggregate units				7,600,000
Received additional amount (in Dollars) | $				$ 2,675
Remaining issued				2,400,000
Securities purchase agreement, description	the Company entered into a securities purchase agreement (“March Securities Purchase Agreement”) with certain investors for the purpose of raising approximately $54.0 million in gross proceeds for the Company. Pursuant to the terms of the March Securities Purchase Agreement, the Company agreed to sell, in a registered direct offering, an aggregate of 19,285,715 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $2.675 per Share and in a concurrent private placement, warrants to purchase an aggregate of 19,285,715 shares of common stock, at a purchase price of $0.125 per Warrant, for a combined purchase price per Share and Warrant of $2.80 (the “Purchase Price”) which was priced at the market under Nasdaq rules. The Warrants are immediately exercisable at an exercise price of $2.80 per share, subject to adjustment, and expire five years after the issuance date. The closing date for the transaction consummated under the March Securities Purchase Agreement was on March 4, 2021. The Company received net proceeds of $48.69 million on March 4, 2021, after deducting the Placement Agent’s fees and other expenses.
Board of Directors [Member]
Stockholders' Equity (Details) [Line Items]
Shares issued of common stock						6,000,000
Chief Executive Officer [Member]
Stockholders' Equity (Details) [Line Items]
Shares issued of common stock						300,000

Equity Investment in Micronet_2

Equity Investment in Micronet (Details)	1 Months Ended	6 Months Ended
	Jun. 16, 2021	Jun. 30, 2021
Business Combinations [Abstract]
Issued and outstanding percentage		50.31%
Ownership interest was diluted percentage		49.88%
Loss of control of Micronet description	Pursuant to the Offering, Micronet sold an aggregate number of 18,400 securities units (the “Units”) at a price of 14.6 NIS per Unit with each Unit consisting of 100 ordinary shares, 25 series A options and 75 series B options, resulting in the issuance of 1,840,000 ordinary shares, 460,000 series A options and 1,380,000 series B options. Micronet raised total gross proceeds of 26,864,000 NIS (approximately $8,290,000) in the Offering.
Debt conversion, description		The Company did not participate in the Offering, and, as a result, the Company owned 36.95% of the outstanding ordinary shares of Micronet and 26.56% on a fully diluted basis as of June 30, 2021.

Equity Investment in Micronet_3

Equity Investment in Micronet (Details) - Schedule of net revenues and net Loss - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Schedule of net revenues and net Loss [Abstract]
Net revenues	$ 472	$ 1,089
Net loss	$ (882)	$ (3,952)

Equity Investment in Micronet_4

Equity Investment in Micronet (Details) - Schedule of purchase price of acquisition - Micronet Ltd. [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Business Acquisition [Line Items]
Total cash consideration	$ 887	[1]
Total Purchase Consideration	887
Goodwill value	2,618
Debt-free net working capital	788	[2]
Property and equipment	661	[2]
Right of use assets	310	[2]
Other assets	26	[2]
Borrowings	(1,675)	[2]
Severance payable	(95)	[2]
Lease liabilities	(101)	[2]
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)
[1]	Cash paid at the closing of the Micronet public offering.
[2]	Book value used as a proxy for fair value.

Equity Investment in Micronet_5

Equity Investment in Micronet (Details) - Schedule of outstanding ordinary shares of micronets - USD ($) $ in Thousands	May 09, 2021	Jun. 30, 2021	Jun. 30, 2020
Schedule of outstanding ordinary shares of micronets [Abstract]
Micronet’s fair value as of May 9, 2021	$ 1,127
Net assets	(6,185)
Capital reserve from currency translation	134
Non-controlling interests	2,990
Net loss from loss of control	$ 1,934	$ (163)	$ (786)

Loan to Micronet (Details)

Loan to Micronet (Details) $ in Thousands	Jul. 05, 2020₪ / shares	Nov. 13, 2019USD ($)	Aug. 13, 2020USD ($)	Nov. 13, 2019₪ / shares
Debt Disclosure [Abstract]
Loan Aggregate (in Dollars) | $		$ 500,000	$ 175,000
Convertible loan bears interest		3.95%
Conversion price				₪ 0.38
Exercise price				₪ 0.60
Convertible loan	₪ 0.08
Per Share	5.7
Options exercised price	0.6
Per Share	₪ 9

GFH Intermediate Holdings Ltd_3

GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition (Details)	Jul. 02, 2020USD ($)$ / sharesshares	Jun. 30, 2021	Nov. 13, 2019₪ / shares
GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition (Details) [Line Items]
Conversion price | ₪ / shares			₪ 0.38
Statutory income tax rate		26.00%
GFH Intermediate Holdings Ltd [Member]
GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition (Details) [Line Items]
Principal amount | $	$ 25,000,000
Converted shares of common stock | shares	22,727,273
Conversion price | $ / shares	$ 1.10

GFH Intermediate Holdings Ltd_4

GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition (Details) - Schedule of GFHI's net revenue and net Loss - GFHI [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Loss Contingencies [Line Items]
Net revenues
Net loss	$ (103)	$ (2,410)

GFH Intermediate Holdings Ltd_5

GFH Intermediate Holdings Ltd (“Gfhi”) Acquisition (Details) - Schedule of allocation of the preliminary purchase price $ in Thousands	Jun. 30, 2021USD ($)
Schedule of allocation of the preliminary purchase price [Abstract]
Total share consideration	$ 32,050	[1]
Total Purchase Consideration	32,050
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.

Beijing Fucheng Lianbao Techn_3

Beijing Fucheng Lianbao Technology Co., Ltd Transaction (Details)	Feb. 10, 2021
Beijing Fucheng Lianbao Technology Co Ltd Transaction [Abstract]
Ownership interest	24.00%

Beijing Fucheng Lianbao Techn_4

Beijing Fucheng Lianbao Technology Co., Ltd Transaction (Details) - Schedule of purchase price of acquisition $ in Thousands	Jun. 30, 2021USD ($)
Schedule of purchase price of acquisition [Abstract]
Total cash consideration	$ 5,711
Total Purchase Consideration	5,711
Net working capital	926	[1]
Property and equipment	26
License	4,814
Current liabilities	(55)
Fair value of net assets acquired	$ 5,711
[1]	Cash paid at the closing of the transaction.

Segments (Details)

Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Segments (Details) [Line Items]
Number of operating segments			2
Intangible assets amortization	$ 643		$ 1,569
Intangible assets	939		939
GFHI Acquisitions [Member]
Segments (Details) [Line Items]
Intangible assets amortization			1,466
Intangible assets amortization			733
Intangible assets	13,740		13,740
Goodwill	24,602		24,602
Deferred tax liability	$ 3,513		3,513
Micronet [Member]
Segments (Details) [Line Items]
Intangible assets amortization			$ 103

Segments (Details) - Schedule o

Segments (Details) - Schedule of the financial performance of operating segments - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021		Jun. 30, 2020	Jun. 30, 2021		Jun. 30, 2020
Verticals and technology [Member]
Segments (Details) - Schedule of the financial performance of operating segments [Line Items]
Revenues from external customers	$ 12,341			$ 20,550
Segment operating loss	(2,916)	[1]		(4,883)	[2]
Mobile resource management [Member]
Segments (Details) - Schedule of the financial performance of operating segments [Line Items]
Revenues from external customers				726
Segment operating loss				(827)	[3]
Online stock trading [Member]
Segments (Details) - Schedule of the financial performance of operating segments [Line Items]
Revenues from external customers
Segment operating loss	(1,956)			(1,956)
Consolidated [Member]
Segments (Details) - Schedule of the financial performance of operating segments [Line Items]
Revenues from external customers	12,341			21,276
Segment operating loss	(4,872)			(7,666)
Non allocated expenses	(11,697)		(668)	(13,686)		(1,438)
Finance expenses and other	(1,810)		900	(2,289)		36
Consolidated loss before provision for income taxes	$ (18,379)		$ 232	$ (23,641)		$ (1,402)
[1]	Includes $733 of intangible assets amortization, derived from GFHI. acquisitions.
[2]	Includes $1,466 of intangible assets amortization, derived from GFHI. acquisitions.
[3]	Includes $103 of intangible assets amortization, derived from Micronet consolidation.

Segments (Details) - Schedule_2

Segments (Details) - Schedule of the financial statements of balance sheet accounts of the segment - USD ($) $ in Thousands	Jun. 30, 2021		Dec. 31, 2020
Verticals and technology [Member]
Segments (Details) - Schedule of the financial statements of balance sheet accounts of the segment [Line Items]
Assets related to segments	$ 25,315	[1]	$ 7,037
Non allocated Assets
Liabilities related to segments	(18,898)	[2]	(638)
Non allocated liabilities
Online stock trading [Member]
Segments (Details) - Schedule of the financial statements of balance sheet accounts of the segment [Line Items]
Assets related to segments	31,416	[3]
Non allocated Assets
Liabilities related to segments	(247)	[2]
Non allocated liabilities
Consolidated [Member]
Segments (Details) - Schedule of the financial statements of balance sheet accounts of the segment [Line Items]
Assets related to segments	56,731		14,054
Non allocated Assets	120,893		63,679
Liabilities related to segments	(19,145)	[2]	(3,499)
Non allocated liabilities	(2,719)		(8,538)
Total Equity	155,760		65,696
Mobile resource management [Member]
Segments (Details) - Schedule of the financial statements of balance sheet accounts of the segment [Line Items]
Assets related to segments			7,017
Non allocated Assets
Liabilities related to segments		[2]	(2,861)
Non allocated liabilities
[1]	Includes $13,740 of intangible assets and $24,602 goodwill, derived from GFHI’s acquisition.
[2]	Includes $3,513 of deferred tax liability, derived from GFHI acquisition.
[3]	Includes $939 of intangible assets.

Intengable Assets (Details) - S

Intengable Assets (Details) - Schedule of Intengable Assets - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Original amount	$ 22,424	$ 18,830
Net amount:	19,493	17,159
Technology know-how [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	11,490	13,070
Accumulated amortization	(1,915)	(1,116)
Trade name/ trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	597	850
Accumulated amortization	(116)	(71)
Customer relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	4,500	4,910
Accumulated amortization	(900)	(484)
License [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	5,735
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	102
Accumulated amortization [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (2,931)	$ (1,671)
Minimum [Member] | Technology know-how [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	5 years
Minimum [Member] | Trade name/ trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	5 years
Minimum [Member] | Customer relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	5 years
Maximum [Member] | Technology know-how [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	6 years
Maximum [Member] | Trade name/ trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	10 years
Maximum [Member] | Customer relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	6 years

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net (Details) - Schedule of accounts receivable - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of accounts receivable [Abstract]
Trade accounts receivable	$ 16,052	$ 528
Allowance for doubtful accounts		(5)
Total	$ 16,052	$ 523

Trade Accounts Receivable, Ne_3

Trade Accounts Receivable, Net (Details) - Schedule of allowance for doubtful accounts - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of allowance for doubtful accounts [Abstract]
Beginning balance	$ 5	$ 116
Provision (recovery)		(111)
Decrease due to deconsolidation of Micronet	(5)
Total		$ 5

Other Current Assets (Details)

Other Current Assets (Details) - Schedule of other current assets - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Schedule of other current assets [Abstract]
Prepaid expenses	$ 1,965	$ 1,300
Advance to suppliers	6	230
Government departments and agencies receivables	63	67
Prepaid tax	83	92
Others	197	67
Total	$ 2,314	$ 1,756

Related parties (Details) - Sch

Related parties (Details) - Schedule of current assets-related parties - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Shareholders of Guangxi Zhongtong	$ 500
Current assets – related parties	1,230
Current liabilities – related parties		$ 163
Short term loan to Micronet [Member]
Debt Instrument [Line Items]
Short term loan to Micronet	200
Convertible loan to Micronet [Member]
Debt Instrument [Line Items]
Convertible loan to Micronet	$ 530
Yulan WU, legal representative of Beijing Fucheng [Member]
Debt Instrument [Line Items]
Yulan WU, legal representative		156
Beijing Internet New Network Technology Development Co., Ltd [Member]
Debt Instrument [Line Items]
Beijing Internet New Network Technology Development Co., Ltd		$ 7

Operating Leases (Details)

Operating Leases (Details)	Jun. 30, 2021
Operating Leases [Abstract]
Operating lease term	4 years

Operating Leases (Details) - Sc

Operating Leases (Details) - Schedule of leases by balance sheet - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Right-of-use assets	$ 2,689	$ 291
Liabilities
Lease liability	$ 2,533	$ 164

Operating Leases (Details) - _2

Operating Leases (Details) - Schedule of operating lease expenses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of operating lease expenses [Abstract]
Operating lease cost	$ 229	$ 23	$ 530	$ 45

Operating Leases (Details) - _3

Operating Leases (Details) - Schedule of maturities of operating lease liabilities $ in Thousands	Jun. 30, 2021USD ($)
Schedule of maturities of operating lease liabilities [Abstract]
2022	$ 1,171
2023	896
2024	272
2025	2
Total lease liabilities	$ 2,341

Operating Leases (Details) - _4

Operating Leases (Details) - Schedule of lease term and discount rate	6 Months Ended
	Jun. 30, 2021
Schedule of lease term and discount rate [Abstract]
Weighted-average remaining lease term (years) – operating leases	2 years
Weighted average discount rate – operating leases	6.00%

Provision for Income Taxes (Det

Provision for Income Taxes (Details)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
United States [Member]
Provision for Income Taxes (Details) [Line Items]
Federal income tax rate	21.00%	21.00%
Israel [Member]
Provision for Income Taxes (Details) [Line Items]
General tax rate	23.00%	23.00%
Preferred tax rate	16.00%
CHINA [Member]
Provision for Income Taxes (Details) [Line Items]
Statutory income rate	25.00%

Provision for Income Taxes (D_2

Provision for Income Taxes (Details) - Schedule of provision for taxes - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Current
Domestic	$ 43		$ 43
Foreign	180	5	31	6
Total	223	5	74	6
Deferred
Domestic
Foreign	(206)		(413)
Total	$ (206)		$ (413)

Provision for Income Taxes (D_3

Provision for Income Taxes (Details) - Schedule of deferred tax assets and liabilities, net - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deferred tax assets
Provisions for employee rights and other temporary differences		$ 129
Net operating loss carry forward	$ 14,630	9,564
Valuation allowance	(14,500)	(9,564)
Deferred tax assets, net of valuation allowance	130	129
Deferred tax liabilities
Recognition of intangible assets arising from business combinations	3,513	4,256
Deferred tax assets and liabilities, net	$ (3,383)	$ (4,127)

Legal Proceedings (Details)

Legal Proceedings (Details) - USD ($)	Jul. 01, 2021	Jun. 04, 2021	Jan. 15, 2021	Sep. 22, 2020	Jul. 21, 2020	Dec. 31, 2017	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Legal Proceedings (Details) [Line Items]
Tradable shares of common stock							$1,500,000
Legal proceedings description							(i) 67.5% of the Shares to Amnon Mandelbaum; (ii) 7.5% of the Shares to INTE Securities LLC; and (iii) 25% of the Shares to Amini LLC). In addition, by no later than February 16, 2021, MICT shall issue 200,000 warrants to purchase 200,000 freely tradable registered shares of Common Stock of MICT and deliver original copies of such warrants within five business days of the date of issuance of the warrants. The shares issuable upon exercise of the warrants shall be registered on a registration statement. 150,000 of these warrants shall be issued to Amnon Mandelbaum; 50,000 of these warrants shall be issued to Amini LLC, or its designee as named in writing. Each warrant shall be exercisable into one share of registered common stock of MICT until one year after the date of issuance the warrants at an exercise price of $1.01 per share, and in any other respects on the same material terms and conditions as are applicable to MICT’s current outstanding warrants including, but not limited to, cashless exercise at all times from the date of issuance of the warrants until to the expiration dates of the warrants, certain exercise price adjustments, and other terms as are no less favorable to MICT’s recently issued common stock purchase warrant agreements. MICT was not able to timely file a registration statement to register the shares, and shares underlying the warrants per the settlement agreement. The Sunrise parties notified MICT that it has breached the settlement agreement.
MICT payments							$ 1,000,000
Share dollar amount							1,500,000
Payment was made		$ 1,000,000
Payment to settle	$ 600,000	$ 600,000
Pursuant to settlement and in consideration				$ 125,000
Release agreement for the payment			$ 315,000
Exchange for the tender (in Shares)			60,000
Legal proceeding description								Upon Closing, MICT received gross proceeds of approximately $4,700,000, of which 10% was to be held in escrow (“Escrow Amount’) for up to 14 months after the Closing in order to satisfy any potential indemnification claims. The final consideration amount was adjusted due to Enertec Systems; debts at the Closing. In addition, Coolisys also assumed approximately $4,000,000 of Enertec Systems’ debt. In conjunction with, and as a condition to, the Closing, the Company, Enertec Systems, Coolisys, DPW and Mr. David Lucatz, our former Chief Executive Officer and director, executed a consulting agreement, (“Consulting Agreement”). Pursuant to the Consulting Agreement, we, via Mr. Lucatz, provided Enertec Systems with certain consulting and transitional services over a 3 year period as necessary (but in no event to exceed 20% of Mr. Lucatz’s time). Coolisys (via Enertec Systems) paid us an annual consulting fee of $150,000 and issued to us 150,000 restricted shares of DPW Class A Common Stock, (the “DPW Shares”). The DPW Shares were issued in three equal installments, with the initial installment vesting the day after the Closing and the remaining installments vesting on each of the first two (2) anniversaries of the Closing. The rights and obligations under the Consulting Agreement were assigned back to Mr. Lucatz along with the DPW Shares.
Seller parties board members amount					$ 2,500,000
Restricted cash escrow non current assets								$ 477,000	$ 477,000
Share Dollar Amount Reduced [Member]
Legal Proceedings (Details) [Line Items]
Share dollar amount							$ 500,000
Mr. Marshak [Member]
Legal Proceedings (Details) [Line Items]
Release agreement for the payment			$ 315,000
Maximum [Member]
Legal Proceedings (Details) [Line Items]
Purchase price						$ 5,250,000
Minimum [Member]
Legal Proceedings (Details) [Line Items]
Purchase price						$ 4,000,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Jul. 01, 2021$ / sharesshares
Subsequent Events (Details) [Line Items]
Subsequent event, description	Pursuant to the transaction, we granted to the All Weather shareholders (the “Shareholders”) with a frame work loan (“Frame Work Loan”) in the total amount of up to RMB 30 million (approximately $4.7 million) (“Frame work Loan Amount”) which is designated, if exercised, to be used as working capital for All Weather. In consideration for the Frame Work Loan, the parties have entered into various additional agreements which include among other: (i) a pledge agreement pursuant to which the Shareholders have pledged their shares for the benefit of Bokefa in order to secure the amount drown from the Frame work Loan Amount (ii) exclusive option agreement pursuant to which Bokefa has an exclusive option to purchase the entire shares of All Weather from the Shareholders (“Option Agreement”) under such terms set forth in the Option Agreement which include an exercise price not less than the maximum Frame work Loan Amount and the right to convert the Frame work Loan Amount into the purchased shares (iii) Entrustment Agreement and Power of Attorney Agreement pursuant to which the Shareholders irrevocably entrusted and appointed Bokefa as its proxy and trustee to exercise on their behalf any and all rights under applicable law and the articles of association of All Weather in the Shareholder’s equity interest in All Weather (iv) business cooperation agreement and a master exclusive service agreement which grants Bokefa with rights related to the All Weather business and operations designed to secure repayment of the Loan Amount
Exercise aggregate warrants	784,562
Warrants at an exercise price per share (in Dollars per share) | $ / shares	$ 1.01
Aggregate of common stock	784,562