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CONSOLIDATED STATEMENTS OF CASH FLOWS (ILS)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended 62 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Dec. 31, 2011
Mar. 31, 2012
Cash flows from operating activities:        
Net loss (1,429) (489) (1,042) (11,588)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 13 8 43 105
Revaluation of stock options and warrants liability 8 42 (310) 97
Interest on loan from related party       70 70
Increase (decrease) in accrued severance pay, net    5 (71) 2
Share based compensation related to stock option and warrants 96    (481) 1,073
Decrease (increase) in accounts receivable and prepaid expenses 81 (159) (24) (76)
Revaluation of tax provision (38)       (38)
Increase (decrease) in trade payables (72) (183) (110) 137
Increase in related party payables 90       90
Increase (decrease) in employees and payroll accruals and other accrued expenses 313 (41) (15) 437
Net cash used in operating activities (938) (817) (1,940) (9,691)
Cash flows from investing activities:        
Purchase of property and equipment (5)       (321)
Net cash used in investing activities (5)       (321)
Cash flows from financing activities:        
Recapitalization of equity upon reverse acquisition of Topspin (a)       595 595
Proceeds from loan from related party       1,352 1,352
Issuance of shares 104       4,690
Issuance of preferred shares          1,870
Exercise of warrants to preferred shares          1,595
Net cash provided by financing activities 104    1,947 10,102
Increase (decrease) in cash and cash equivalents (839) (817) 7 90
Cash and cash equivalents at the beginning of the period 929 922 922  
Cash and cash equivalents at the end of the period 90 105 929 90
(a) Recapitalization of equity upon reverse acquisition:        
Tax provision       1,351   
Other accounts receivable and prepaid expenses       (818)   
Related party       270   
Other accounts payable and accruals       978   
Topspin's assets and liabilities at date of recapitalization       1,781   
Acquired through issuance of shares       (1,186)   
Cash inflow       595   
(b) Supplemental disclosure of non-cash financing activities:        
Convergence of loan from related party       858 858
Issuance of shares on account of other payables 165       165