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NOTE
5 - LEASES:
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a. |
On August 15, 2024, Silexion Israel vacated its
office spaces and facilities in Israel. On September 8, 2024, an early termination agreement for the operating lease was signed with the
landlord, which included a termination penalty. As a result, Silexion Israel derecognized the right-of-use asset and the lease liability
in its financial statements, recording a loss of $68
from the lease termination and an additional loss of $16
from the disposal of leasehold improvements. |
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b. |
On September 26, 2024 Silexion Israel signed a
new lease agreement for an office in Israel starting on November 1, 2024 and ending on October 31, 2026 (initial term of two years and
extension options reasonably certain to be exercised ending October 31, 2028). Silexion Israel will pay quarterly fixed payments to the
lessor (including payments for common area maintenance). Lease payments are indexed to the Israeli consumer price index (the “CPI”).
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Silexion
Israel provided the lessor with a bank guarantee as a rental security. The bank, in turn, placed a pledge over restricted cash of $57.
Operating
lease costs for the years ended December 31, 2025 and 2024 are as follows:
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Fixed
payments and variable payments that depend on an index or rate: |
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Office
and operational lease expenses |
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$
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170
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$
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144
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Variable
lease cost (included in the operating lease costs) |
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$
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1
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$
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8
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Loss
from lease termination |
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-
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68
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Total
operating lease costs |
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$
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171
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$
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220
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Operating
cash flows, for amounts included in the measurement of lease liabilities, are as follows:
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2025 |
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Office
and operational spaces lease expenses |
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$
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170
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$
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130
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Termination
penalty |
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-
|
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34
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Total
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$
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170
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$
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164
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Supplemental
information related to operating leases is as follows:
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Weighted
average remaining lease term (years) |
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2.84
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3.84
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Weighted
average discount rate |
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11.28
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11.28
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As
of December 31, 2025, Silexion Israel has not entered into lease agreements that include options to extend them that are not included
in the measurement of the lease liability.
The
following table outlines maturities of Silexion Israel’s operating lease liabilities as of December 31, 2025:
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Operating
lease
liabilities |
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2026
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$
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191
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|
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2027
|
|
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197
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2028
|
|
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150
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Total undiscounted lease
payments |
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$
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538
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Less - imputed interest
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(70
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Present value of lease
liabilities |
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468
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