Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

RELATED PARTY BALANCES AND TRANSACTIONS

v3.22.1
RELATED PARTY BALANCES AND TRANSACTIONS
 12 Months Ended
Dec. 31, 2021
Related party transactions [abstract]  
RELATED PARTY BALANCES AND TRANSACTIONS [Text Block]
NOTE 21:-
RELATED PARTY BALANCES AND TRANSACTIONS
 
  a.
Balances and transactions:
 
The following table summarizes balances with related parties in the statements of financial position:
 
   
December 31,
  
   
2021
    
2020
  
             
Other accounts receivables
  
$
 11    
$
 36  
Other accounts payables
  
$
 875    
$
 -  
 
The following table summarizes the transactions with related parties in the consolidated statements of profit or loss and other comprehensive income:
 
   
Year ended
December 31,
  
   
2021
    
2020
  
             
General and administrative expenses
  
$
1,116
    
$
617
  
 
Transactions with related parties mainly includes compensation for management services and bonus in the ordinary course of business and short-term lease payments.
 
  b.
Compensation of key management personnel of the Group:
 
The Company's key management personnel are the directors, senior executives and a managing company which provides the Company with key management personnel services.
 
   
Year ended
December 31,
  
   
2021
    
2020
  
             
Payroll and related expenses
  
$
 2,377    
$
 2,005  
                 
Share-based compensation
  
$
 5,700    
$
 2,791  
                 
Professional fees *)
  
$
 1,029    
$
 1,391  
 
  *)
Includes payments to shareholders for the years ended 2021 and 2020 of $455 and $534, respectively.
 
  c.
See Note 5 for indemnification agreement with a former director of TFC, currently serving as the Company's chairman of the board of directors.