SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2015

Class of Stock [Line Items]

Schedule of Stock by Class [Table Text Block]

a. Composition of share capital:

	March 31, 2015				December 31, 2014
	Authorized		Issued and outstanding		Authorized		Issued and outstanding
	Unaudited
Ordinary shares of £ 0.01 par value each		5,000,000,000		55,636,283		5,000,000,000		55,636,283
Deferred A shares of £ 0.001 par value		800,000		-		800,000		-
Deferred B shares of £ 0.001 par value		1,200,000		-		1,200,000		-
Deferred C shares of £ 0.001 par value		400,000		-		400,000		-

Fair Value, by Balance Sheet Grouping [Table Text Block]

Fair value was estimated using the following weighted-average assumptions (annualized percentages):

	Three months ended
	March 31,
	2015	2014
	Unaudited
Expected dividend yield	0%	0%
Expected volatility	75.39%-81.03%	66.5%-81.21%
Risk-free interest	0.73%-1.94%	1.0%-1.82%
Expected life	2.42-9.42 years	3.42-6.25 years
Forfeiture rate	0%	0%

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

The following is a summary of the Company’s stock option activity and related information for the three months ended March 31, 2015:

				Weighted average
			Weighted	remaining
		average		contractual		Aggregate
	Number	exercise		term		intrinsic
	of shares	price		(in years)		value
Balance as of January 1, 2015	2,903,227	$	1.42		8.0	$	-
Changes during the period:
Granted	-
Forfeited	-
Balance as of March 31, 2015	2,903,227	$	1.42		7.8	$	-
Vested and expected to vest	2,903,227	$	1.42		7.8	$	-
Exercisable Options as of March 31, 2015	1,515,727	$	1.36		7.0	$	-

Share-based Compensation Arrangement by Share-based Payment, Award, Options and Warrants [Table Text Block]

The options and warrants outstanding as of March 31, 2015 that were granted to the Company’s service providers are as follows:

Grant date	Number of options		Exercise Price	Expiration date
August 28, 2007	20,475	$	1.29	August 28, 2017
May 27, 2009	30,000	$	1.56	May 27, 2019
February 12, 2012	309,492	$	2.00	February 12, 2017
April 26, 2012	90,000	$	2.00	March 19, 2017
June 27, 2012	2,988	$	1.75	June 21, 2022
November 30, 2012	90,180	$	2.00	November 30, 2017
January 17, 2013	43,035	$	2.00	January 17, 2018
January 31, 2013	7,200	$	2.00	January 31, 2018
February 8, 2013	3,600	$	2.00	February 28, 2018
August 27, 2014	35,000	$	0.565	August 27, 2024
	631,970

Call Option [Member]

Class of Stock [Line Items]

Fair Value, by Balance Sheet Grouping [Table Text Block]

Fair values were estimated using the following assumptions for the call options (range of annualized percentages):

	Three months ended
	March 31,
	2015	2014
	Unaudited
Expected dividend yield	0%	0%
Expected volatility	80.3%-91.72%	70.52%-86.68%
Risk-free interest	0.56%-0.95%	0.11%-0.39%
Expected life	2.01-3.25	0.84-1.84

Put Option [Member]

Class of Stock [Line Items]

Fair Value, by Balance Sheet Grouping [Table Text Block]

Fair values were estimated using the following assumptions for the put options (range of annualized percentages): 

	Three months ended March 31,
	2015	2014
	Unaudited
Dividend yield	0%	0%
Expected volatility	80.3%	68.8%-70.52%
Risk-free interest	0.56%	0.11%-0.15%
Expected life	2.01	0.84-1.08