SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 17 - SUBSEQUENT EVENTS

In January 2018, the Company acquired 100% of the outstanding shares of Abydos Consultores de Sistemas S.L.U., a Spanish company. Consideration of the acquisition was 183 euros. The acquisition was done in order to expand the services we provide in Spain.

The acquisition was accounted for as a purchase and accordingly a purchase price was allocated to the assets acquired and liabilities assumed at their fair values.

The following represents the allocation of the purchase price as of the purchase date in Euros and the translation to United States Dollars as of the purchase date:

	EUR		U.S. Dollars
Cash		29		36
Accounts receivable		142		175
Fixed assets		88		108
Other assets		11		14
Goodwill		188		232
Total identifiable assets acquired		458		565
Notes payables - banks		11		14
Accounts payable		19		23
Accrued expenses and other current liabilities		126		155
Other liabilities		119		147
Total liabilities assumed		275		339
		183		226

In April 2018, the Company issued 3.4 million shares to certain directors and officers of the Company for a purchase price of $0.66 per share.