SHARE CAPITAL (Tables)

12 Months Ended

Dec. 31, 2019

SHARE CAPITAL

Schedule of Options and Restricted Stocks Granted

a)    Below is a table summarizing all of the options grants to employees during the year ended December 31, 2019:

				Fair value
				at grant
				(U.S.
No. of options	Exercise			dollars in		Expiration
granted	price		Vesting period	thousands)		period
160,000	$	4.69	4 years	$	449	10 years
80,000	$	2.00	4 years	$	97	10 years

Summary of Stock Option Activity - Options Granted to Employees

a)    Options granted to employees:

	Year ended December 31,
	2017			2018			2019
		Weighted			Weighted			Weighted
	Number	average		Number	Average		Number	average
	of	exercise		of	Exercise		of	exercise
	options	price		options	Price		options	price
Outstanding at beginning of year	488,421	$	36.17	472,962	$	36.04	1,000,068	$	15.47
Changes during the year:
Granted				636,000		5.41	240,000		3.79
Forfeited and Expired	15,459		40.04	108,894		46.04	199,871		14.14
Outstanding at end of year	472,962	$	36.04	1,000,068	$	15.47	1,040,197	$	13.03
Exercisable at end of year	445,746	$	36.96	394,486	$	30.65	532,322	$	21.04

Schedule of Options Granted to other Service Providers

b)    Options and restricted stocks granted to consultants, directors, and other service providers:

	Year ended December 31,
	2017			2018			2019
	Number			Number			Number
	of	Weighted		of	Weighted		of	Weighted
	Options/	average		options/	average		options/	average
	restricted	exercise		restricted	exercise		restricted	exercise
	stock	price		stock	Price		stock	price
Outstanding at beginning of year	20,800	$	31.56	20,000	$	32.82	15,000	$	33.70
Changes during the year:
Expired	800		0.001	5,000		30.20
Outstanding at end of year	20,000		32.82	15,000		33.70	15,000		33.70
Exercisable at end of year	20,000	$	32.82	15,000	$	33.70	15,000	$	33.70

Schedule of Information about Share Options Outstanding and exercisable

c)The following tables summarize information concerning outstanding and exercisable options and restricted stock as of December 31, 2019:

December 31, 2019
	Options outstanding			Options exercisable
		Number of	Weighted		Weighted
		options	average		average
		outstanding	remaining	Number of	remaining
	Exercise	at end of	contractual	options	contractual
	prices	year	life	exercisable	life
$	2.00	80,000	9.73	5,000	9.73
$	4.69	160,000	9.50	20,000	9.50
$	5.10	228,062	8.65	72,687	8.54
$	5.60	258,126	7.09	120,626	5.24
$	17.20	149,209	4.39	149,209	4.39
$	23.70	90,000	1.84	90,000	1.84
$	33.70	15,000	0.62	15,000	0.62
$	69.00	68,000	0.15	68,000	0.15
$	96.60	6,800	0.83	6,800	0.83
		1,055,197		547,322

Schedule of Stock-Based Compensation Expense in Statement of Operations

d)    The following table illustrates the effect of share-based compensation on the statement of operations:

	Year ended December 31,
(U.S. dollars in thousands)	2017		2018		2019
Research and development expenses	$	182	$	310	$	513
Selling, general and administrative expenses		155		204		322
	$	337	$	514	$	835