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10-Q - FORM 10-Q: QUARTERLY REPORT FOR THE PERIOD ENDED SEPTEMBER 30, 2012 - HOTEL OUTSOURCE MANAGEMENT INTERNATIONAL INCform10-q.htm
EXCEL - IDEA: XBRL DOCUMENT - HOTEL OUTSOURCE MANAGEMENT INTERNATIONAL INCFinancial_Report.xls
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EX-31.2 - CERTIFICATION OF HOMI?S CFO PURSUANT TO RULE13A- 14(A) - HOTEL OUTSOURCE MANAGEMENT INTERNATIONAL INCexhibit31_2.htm
EX-31.1 - CERTIFICATION OF HOMI?S CEO PURSUANT TO RULE13A- 14(A) - HOTEL OUTSOURCE MANAGEMENT INTERNATIONAL INCexhibit31_1.htm
EX-32.1 - CERTIFICATION OF HOMI?S CEO AND CFO REQUIRED BY RULE 13A-14(B) - HOTEL OUTSOURCE MANAGEMENT INTERNATIONAL INCexhibit32_1.htm
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Significant Events During the Period
9 Months Ended
Sep. 30, 2012
Significant Events During Period [Abstract]  
SIGNIFICANT EVENTS DURING THE PERIOD
NOTE 5:-      SIGNIFICANT EVENTS DURING THE PERIOD
 
a.
On October 5, 2010, HOMI Industries Ltd, (hereinafter- HOMI Industries) which is a wholly owned subsidiary of HOMI, entered into a loan agreement with Tomwood Limited, a BVI company. Pursuant to this agreement, HOMI Industries received $ 2,000.
 
This amount was presented as of December 31, 2011 in long-term liabilities as a loan from others.
 
On June 29, 2012, the loan was converted and Tomwood received an allocation of 110,497,238 Company shares in the price of $ 0.0181 dollar per share. As a result of the conversion, Tomwood now holds approximately 55% of the Company's issued share capital.Value of the costed benefit component of this transaction in the amount of approximately $ 1,296 was charged to capital and offset against benefit reduction expenses.
 
Any and all liens on HOMI assets used as security for the Tomwood loan were removed.
 
b.
On July 12, 2012, HOMI received two new loans from shareholders amounting to $ 300, bearing 8% annual interest. Each loan is for a period of four years, including two years’ grace on the principal. Pursuant to the loan agreements, HOMI stated its intention to perform a rights offering. In the event of such rights offering, HOMI will have the right to repay all or part of the loans by issuing shares of HOMI’s common stock, to the lenders, at the same price per share as in the rights offering.
 
c.
On January 8, 2012 and December 15, 2011, HOMI entered into loan agreements with a related company which is a company owned by HOMI's Chairman, the related party loaned HOMI NIS 850 and NIS 1,125 respectively. HOMI has paid interest on these loans, but not any principal.
 
On September 1, 2012, the related party agreed to HOMI’s request to recycle these two loan agreements as follows:
 
  (1)
An amount of NIS 1,660 approximately ($ 412) out of the above mentioned loans ,was recycled into 3 loan agreements with HOMI Industries Ltd, pursuant to which the related party shall receive a portion of the revenue from minibar systems operated by HOMI subsidiaries in three hotels.
 
  (2)
As a result, approximately NIS 315 ($ 78) of principal, remains outstanding and payable under the December 15, 2011 loan and in accordance with its terms.