STOCKHOLDERS' DEFICIT (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block]

The table below summarizes the outstanding warrants as of December 31, 2013:

	Warrants outstanding as of December 31, 2013	Exercise price	Expiration date
		$

Investors of the 2011-2012 Private Placement (**)	2,690,712	1.30	October 26, 2016
Placement agent of the 2011-2012 Private Placement () (*)	434,480	1.00	April 8, 2016
Placement agent of the 2011-2012 Private Placement () (*)	513,890	1.30	April 8, 2016
October 2012 Private Placement FINRA member (*)	148,192	1.50	October 16, 2016
August 2012 Private Placement	658,019	1.00	April 8, 2014
August 2012 Private Placement	750,019	1.00	April 8, 2015
April-May 2013 Private Placement	2,000,000	5.00	April 4, 2016
Placement agent of the April-May 2013 Private Placement (*)	400,000	2.50	April 4, 2016
Placement agent of the April-May 2013 Private Placement (*)	200,000	5.00	April 4, 2016
Consulting Agreement	200,000	1.50	October 7, 2014
Consulting Agreement	250,000	1.50	April 8, 2015

Total outstanding	8,245,312

(*)

Contain a "cashless exercise" feature

(**)

Including certain non-standard anti-dilutive provisions (see also Note 6)

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Transactions related to the grant of options to employees, directors and non-employees under the above plans during the year ended December 31, 2013, were as follows:

	Number of options	Weighted average exercise price	Weighted average remaining contractual life	Intrinsic value
		$	Years	$

Options outstanding at beginning of year	2,100,000	0.32	7.69	1.18
Options granted	3,013,250	2.13
Options exercised	15,000	0.00
Options expired	-	-
Options forfeited	369,500	1.53

Options outstanding at end of year	4,728,750	1.38	7.69	0.62

Options vested and expected to vest at end of year	3,394,500	1.12	7.03	0.74

Exercisable at end of year	3,410,750	1.13	7.07	0.74

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table presents the assumptions used to estimate the fair values of the options granted in the period presented:

	Year ended December 31, 2013	Year ended December 31, 2012

Volatility	58.63%-75.77%	49.9%-75.1%
Risk-free interest rate	0.33%-2.98%	0.37%-0.96%
Dividend yield	0%	0%
Expected life (years)	2.7-9.72	2.5-5

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The total compensation cost related to all of the Company's equity-based awards, recognized during year ended December 31, 2013 and 2012 was comprised as follows:

	Year ended December 31, 2013		Year ended December 31, 2012

Research and development	$	611,595	$	173,740
Marketing and pre-production costs		213,260		-
General and administrative		2,388,415		390,403

Total stock-based compensation expenses	$	3,213,270	$	564,143

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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