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SHARE CAPITAL (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Options and Restricted Stocks Granted

Below is a table summarizing all of the options grants to employees during the year ended December 31, 2018:

Year of grant		No. of options granted		Exercise price		Vesting period		Fair value at grant (U.S. dollars in thousands)		Expiration period
	2018		4,000,000	$	0.56		4 years	$	1,200		10 years
	2018		2,360,000	$	0.51		4 years	$	700		10 years

Summary of Stock Option Activity - Options Granted to Employees

Options granted to employees:

	Year ended December 31,
	2016				2017				2018
			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		6,952,293	$	3.363		4,884,211	$	3.617		4,729,617	$	3.604
Changes during the year:
Granted										6,360,000		0.541
Forfeited and Expired		1,514,957		3.748		154,594		4.004		1,088,942		4.604
Exercised (*)		553,125		0.067
Outstanding at end of year		4,884,211	$	3.617		4,729,617	$	3.604		10,000,675	$	1.547
Exercisable at end of year		3,498,492	$	4.296		4,457,461	$	3.696		3,944,863	$	3.065

(*) The total intrinsic value of options exercised during the years ended December 31, 2016, 2017 and 2018, was approximately $213,000, $0 and $0, respectively.

Summary of Restricted Stock Activity - Options Granted to Employees

Restricted stock granted to employees:

	Year ended December 31, 2016
	Number of shares of restricted stock
Outstanding at beginning of year		127,874
Changes during the year:
Vested		127,874
Forfeited		-
Outstanding at end of year		-

Schedule of Options Granted to Service Providers

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

	Year ended December 31,
	2016				2017				2018
	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		637,209	$	11.638		208,000	$	3.156		200,000	$	3.282
Changes during the year:
Expired		429,209		15.748		8,000		0.001		50,000		3.02
Vested restricted stock
Outstanding at end of year		208,000		3.156		200,000		3.282		150,000		3.37
Exercisable at end of year		170,500	$	3.109		200,000	$	3.282		150,000	$	3.37

Schedule of Information about Share Options Outstanding

The following tables summarize information concerning outstanding and exercisable options and restricted stock as of December 31, 2018:

December 31, 2018
Options outstanding						Options exercisable
Exercise prices		Number of options outstanding at end of year		Weighted average remaining contractual life		Number of options exercisable		Weighted average remaining contractual life
	n/a (Restricted Stock)						n/a		n/a
$	0.51		2,360,000		9.71		147,500		9.71
$	0.56		4,000,000		9.71		250,000		9.71
$	1.720		1,623,593		6.22		1,530,281		6.22
$	2.370		900,000		5.74		900,000		5.74
$	2.650		209,082		0.15		209,082		0.15
$	3.370		150,000		5.56		150,000		5.56
$	6.900		680,000		1.15		680,000		1.15
$	7.550		160,000		0.56		160,000		0.56
$	9.660		68,000		1.83		68,000		1.83
			10,150,675				4,094,863

Schedule of Stock-Based Compensation Expense in Statement of Operations

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

	Year ended December 31,
(U.S. dollars in thousands)	2016		2017		2018
Research and development expenses	$	571	$	182	$	310
Selling, general and administrative expenses		417		155		204
	$	988	$	337	$	514