STOCKHOLDERS' DEFICIT AND CONVERTIBLE PREFERRED SHARES (Tables)
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12 Months Ended |
Dec. 31, 2014
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Equity [Abstract] |
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Schedule of Stockholders Equity [Table Text Block] |
The table below shows the allocation of proceeds from the September 2014 Private Placement and carrying value of the Series A Preferred Stock and warrants issued in such placement: | | Year ended | | | | December 31, | | | | 2014 | | | | | | Gross proceeds on September 23, 2014 | | $ | 4,235 | | Fair value of warrants on September 23,2014 | | | (1,336) | | Related issuance costs allocated | | | (96) | | | | | | | Net value allocated to Series A Preferred Stock | | $ | 2,803 | | | | | | | Calculated BCF value | | | (2,899) | | Deemed dividend | | | 2,899 | | Conversion of Series A Preferred Stock, net of issuance costs | | | (46) | | | | | | | Balance at December 31, 2014 | | $ | 2,757 | | |
Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block] |
The table below summarizes the outstanding warrants as of December 31, 2014: | | Warrants outstanding as of December 31, 2014 | | | Exercise price | | | Expiration date | | | | | | $ | | | | | | | | | | | | | | | Investors of the 2011-2012 Private Placement | | | 2,835,787 | | | | 1.23 | | | October 26, 2016 | Placement agent of the 2011-2012 Private Placement | | | 423,496 | | | | 1.00 | | | April 8, 2016 | Placement agent of the 2011-2012 Private Placement | | | 540,046 | | | | 1.23 | | | April 8, 2016 | October 2012 Private Placement FINRA member | | | 29,585 | | | | 7.50 | | | October 16, 2016 | August 2012 Private Placement | | | 141,269 | | | | 5.00 | | | April 8, 2015 | April-May 2013 Private Placement | | | 400,000 | | | | 25.00 | | | April 4, 2016 | Placement agent of the April-May 2013 Private Placement | | | 80,003 | | | | 12.50 | | | April 4, 2016 | Placement agent of the April-May 2013 Private Placement | | | 40,005 | | | | 25.00 | | | April 4, 2016 | Investors of the September 2014 Private Placement | | | 5,341,834 | | | | 0.48 | | | September 23, 2018 | Consulting Agreement | | | 50,000 | | | | 7.50 | | | April 8, 2015 | | | | | | | | | | | | Total outstanding | | | 9,882,025 | | | | | | | | |
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, 2014 were as follows: | | | | | | Weighted | | | | | | | | Weighted | | average | | | | | | | | average | | remaining | | Aggregate | | | | Number of | | exercise | | contractual | | Intrinsic | | | | options | | price | | life | | value | | | | | | $ | | Years | | $ | | | | | | | | | | | | Options outstanding at beginning of year | | | 945,750 | | | 6.90 | | | 7.69 | | | 2,935 | | Options granted | | | 624,000 | | | 6.36 | | | | | | | | Options exercised | | | 74,500 | | | 0.09 | | | | | | | | Options expired | | | 89,250 | | | 11.21 | | | | | | | | Options forfeited | | | 88,600 | | | 13.54 | | | | | | | | | | | | | | | | | | | | | | Options outstanding at end of year | | | 1,317,400 | | | 6.59 | | | 6.98 | | | 8 | | | | | | | | | | | | | | | | Options vested and expected to vest at end of year | | | 1,284,800 | | | 6.58 | | | 6.96 | | | 8 | | | | | | | | | | | | | | | | Exercisable at end of year | | | 962,875 | | | 6.74 | | | 6.42 | | | 8 | | |
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, | | | | 2014 | | 2013 | | | | | | | | | | Volatility | | | 54.57%-64.74% | | | 58.63%-75.77% | | Risk-free interest rate | | | 1.65%-2.84% | | | 0.33%-2.98% | | Dividend yield | | | 0% | | | 0% | | Expected life (years) | | | 5-10 | | | 2.7-9.72 | | |
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, 2014 and 2013 was comprised as follows: | | Year ended | | | | December 31, | | | | 2014 | | 2013 | | | | | | | | Cost of revenues | | $ | 39 | | $ | - | | Research and development | | | 409 | | | 612 | | Sales, Marketing and pre-production costs | | | 29 | | | 212 | | General and administrative (*) | | | 1,215 | | | 2,389 | | | | | | | | | | Total stock-based compensation expenses | | $ | 1,692 | | $ | 3,213 | | | (*) | Excluding restricted Common Stock and warrants to purchase Common Stock that were granted to service provider and for which expenses amounted to $1,011 were recorded during the year ended December 31, 2013. | |