Quarterly report pursuant to Section 13 or 15(d)

Short-Term Deposits

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Short-Term Deposits
 9 Months Ended
Sep. 30, 2020
Investments, All Other Investments [Abstract]  
SHORT-TERM DEPOSITS
NOTE 3 – SHORT-TERM DEPOSITS

 

Short-term deposits represent time deposits placed with banks with original maturities of greater than three months but less than one year. Interest earned is recorded as financial income in the condensed consolidated statements of operations during the periods for which the Company held short-term deposits.

 

As of September 30, 2020, the Company had deposits dominated in New Israeli Shekels ("NIS") and in USD at Leumi Bank (Israel) and BHI USA with various fixed annual interest rates in the range of 0.5% - 1.58% per year. As of September 30, 2019, the Company had deposits at Leumi Bank (Israel) and BHI USA with various fixed annual interest rates in the range of 2.4% - 3.6% per year.