Ondas Holdings Inc. Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2021

Note 10 — Property and equipment:

	Vehicles		Docking stations and drones(1)(2)		Computers and peripheral equipment		Machinery, Office furniture and Equipment		Leasehold Improvements		Total
	U.S. dollars in thousands
Cost:
Balance as of January 1, 2020	55		4,488		1,231		842		1,175		7,791
Additions during the year:
Purchases	—		980		10		43		—		1,033
Adjustments arising from translating financial statements of foreign operations	—		13		—		—		—		13
Decreases during the year:
Disposals	(4	)	(438	)	—		(57	)	—		(499	)
Balance as of December 31, 2020	51		5,043		1,241		828		1,175		8,338
Additions during the year:
Purchases	—		402		59		49		3		513
Decreases during the year:
Classification to inventory(3)	—		(1,374	)	—		—		—		(1,374	)
Sales	(36	)	(625	)	—		(14	)	—		(675	)
Disposals	—		(52	)	(1,094	)	(401	)	(5	)	(1,552	)

Balance as of December 31, 2021	15		3,394		206		462		1,173		5,250

Accumulated Depreciation and impairment:
Balance as of January 1, 2020	19		445		935		436		284		2,119
Additions during the year:
Depreciation	10		337		204		99		117		767
Decreases during the year:
Reversal of an impairment loss	—		(206	)	—		—		—		(206	)
Disposals	(2	)	(438	)	—		(13	)	—		(453	)

Balance as of December 31, 2020	27		138		1,139		522		401		2,227
Additions during the year:
Depreciation	3		371		97		77		120		668
Impairment	—		955		—		—		—		955
Decreases during the year:
Classification to inventory(3)	—		(164	)	—		—		—		(164	)
Sales	(15	)	—		—		(11	)	—		(26	)
Disposals	—		(52	)	(1,094	)	(401	)	(5	)	(1,552	)

Balance as of December 31, 2021	15		1,248		142		187		516		2,108

Depreciated cost as of December 31, 2020	24		4,905		102		306		774		6,111
Depreciated cost as of December 31, 2021	—		2,146		64		275		657		3,142

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(1) This group includes docking stations and drones in the construction process, at a net cost after impairments of $1,883 thousand and $2,428 thousand, as of December 31, 2021, and 2020, respectively.

(2) In the year ended December 31, 2021, the Company recognized impairment losses of $955 thousand, because of technological equipment obsolescence. The impairment was charged to other expenses in the 2021 Statement of Comprehensive Income.

(3) See Note 2 (m)