Subsequent Events [Text Block] |
NOTE 12:- | SUBSEQUENT EVENTS | a. On Januaty 9, 2017, the Company commenced a private placement offering of up to $5,100 consisting of up to 1,821,437 shares of Common Stock and warrants to purchase up to 1,821,437 shares of Common Stock. The warrants are exercisable after the six month anniversary of each respective closing and will expire on the 5 year anniversary of their issuance. On January 9, 2017, the Company held the initial closing of the offering with a lead investor and an additional investor and issued 1,113,922 shares of Common Stock and warrants to purchase 1,113,922 shares of Common Stock for aggregate gross proceeds of approximately $3,100. On January 11, 2017, the Company entered into securities purchase agreements with 18 investors for the future issuance and sale of 707,515 shares of Common Stock and warrants to purchase 707,515 shares of Common Stock, provided that the issuance and sale of such securities shall only occur upon obtaining stockholder approval, pursuant to Nasdaq rules. Stockholders approval was obtained on March 9, 2017 | b. | In January 2017, 77,891 Compensation Shares of Common Stock were issued to certain members of the Board of Directors, Officers and employees of the Company as consideration for a reduction in or waiver of cash salary or fees owed to such individuals. The shares were issued under the 2012 Plan. | | c. | In January 10, 2017, 6,553 Compensation Shares of Common Stock were issued to certain service provider instead of cash owed to him for services provided during the fourth quarter of 2016. The shares were issued under the 2012 Plan. In February 6, 2017, 34,050 options were granted to a certain service provider of Ltd., under the 2012 plan, instead of cash owed to the service provider for services provided during the period July – December of 2016. The options are fully vested, and exercisable at an exercise price of $0.0001 per share. | | d. | In January and February, 2017, the Company's Compensation Committee of the Board of Directors approved the grants of 367,257 share to officers, employees and consultants of the Company, and the grant of 111,242, 386,029 and 21,000 options to employees, directors and consultants of the Company, respectively, at exercise prices of between $3.202 to $3.829 per share. The stock options shall vest over a period of three years commencing on the grant date. All of the aforementioned options have six year term. All options were issued under the 2012 Plan. | | e. | On March 8, 2017 the March 2016 Warrants and August 2016 Warrants exercise price adjustment feature expired, and therefore the warrants are no longer accounted for as a liability (See also Note 9k, Note 9n and Note 10). |
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