First quarterly payment from Supercomm was received by OTIV in Q3 2014
The quarterly payments from SuperCom were recorded as discounted operations.
C. Divestiture of operations
1. In December 2013, the Company completed the sale of certain assets, subsidiaries and intellectual property ("IP") relating to its Smart ID division. Accordingly the results and the cash flows of this operation for all reporting periods are presented in the statements of operations and in the statements of cash flows, respectively, as discontinued operations separately from continuing operations. During the nine month period ended September 30, 2014 the Company recorded profit from contingent consideration in the amount of $500,000 according to the earn out mechanism. This profit is presented as ‘other income, net’ within income from discontinued operations for the nine months ended September 30, 2014. |