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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Schedule of Awards Granted
Options:
 
 
      
 
        
 
    
Share based
        
 
      
 
        

Fair value

    
expenses (1)
    
 
  
Grant date
  
No. of options
  
Expiration date
  
Exercise price
    
on grant
date
    
$in
thousands
    
Vesting
terms
  
March 5, 2020
    
399
  
March 5, 2030
  
$
36.4
    
$
23.44
    
$
9
      
(2
)
May 27, 2020
    
133
  
May 27, 2030
  
$
11.8
    
$
8.47
    
$
1
      
(2
)
August 5, 2020
    
18,014
  
August 5, 2030
  
$
12
    
$
9.73
    
$
175
      
(4
)
November 17, 2020
    
1,036
  
November 17, 2030
  
$
6.4
    
$
4.22
    
$
4
      
(4
)
December 10, 2020 (3)
    
11,250
  
December 10, 2030
  
$
6.4
    
$
5.5
    
$
62
      
(4
)
March 17, 2021
    
1,274
  
March 17, 2031
  
$
45.4
    
$
42.8
    
$
54
      
(4
)
May 11, 2021
    
903
  
May 11, 2031
  
$
11.8
    
$
26.07
    
$
23
      
(4
)
August 4, 2021 (5)
    
36,701
  
August 4, 2031
  
$
24.6
    
$
18.47
    
$
678
      
(4
)
September 13, 2021
    
750
  
September 13, 2031
  
$
21
    
$
16.92
    
$
13
      
(8
)
September 20, 2021 (6)
    
1,250
  
September 20, 2031
  
$
20.6
    
$
16.15
    
$
20
      
(4
)
November 2, 2021
    
1,556
  
November 2, 2031
  
$
22.2
    
$
18.91
    
$
31
      
(4
)
December 9, 2021 (7(
    
38,334
  
December 9, 2031
  
$
26.8
    
$
12.98
    
$
497
      
(7
)
December 9, 2021 (7)
    
19,167
  
December 9, 2031
  
$
26.8
    
$
13.14
    
$
252
      
(7
)
January 27, 2022(9)
    
16,800
  
January 27, 2032
  
$
12.96
    
$
7.98
    
$
134
      
(4
)
March 21, 2022 (10)
    
8,472
  
March 21, 2032
  
$
10.184
    
$
7.02
    
$
59
      
(4
)
May 31, 2022
    
1,157
  
May 31, 2032
  
$
7.254
    
$
6.27
    
$
7
      
(4
)
August 29, 2022
    
1,661
  
August 29, 2032
  
$
8.23
    
$
6.91
    
$
11
      
(4
)
November 29, 2022
    
1,024
  
November 29, 2032
  
$
4.81
    
$
2.38
    
$
2
      
(4
)
December 29, 2022(11)
    
29,125
  
December 29, 2032
  
$
4.14
    
$
1.64
    
$
48
      
(10
)
 
RSUs:
 
 
  
No. of RSUs
  
 
  
Fair value on
    
Share based
    
Vesting
  
Grant date
  
and PSUs
  
Expiration date
  
grant date
    
expenses (1)
    
terms
  
August 4, 2021 (7)
    
15,000
  
August 4, 2031
  
$
21.8
    
$
327
      
(6
)
January 27, 2022 (9)
    
7,200
  
January 27, 2032
  
$
9.58
    
$
69
      
(6
)
March 21, 2022 (10)
    
2,850
  
March 21, 2032
  
$
8.27
    
$
24
      
(6
)

 

  1.
Share based expenses are based on their fair value on grant date. The amount is charged to the statement of operations over the vesting periods.
 
  2.
The options vest over a period of three years commencing on the date of grant, such that one third of the options vested on the first anniversary of the date of grant and thereafter, the remaining options vest in quarterly installments.
 
  3.
On December 10, 2020, the Company's Board of Directors approved the award of 11,250 options to the Company’s officers, with an exercise price of $6.4, equal to the higher of the share price at the grant date on Nasdaq and the average closing price of our ordinary shares on Nasdaq during the 30 trading days prior to the grant date.
 
  4.
The options vest over a period of four years commencing on the date of grant, such that 25% of the options vest and become exercisable on the first anniversary of the date of grant and thereafter, vest monthly in equal portions at the end of each month over the subsequent thirty-six (36) months.
 
  5.
On August 4, 2021, the Company's Board of Directors approved the award of 36,694 options and 15,000 RSUs, of which, 12,075 options and 5,175 RSUs were issued to certain of the Company’s officers. The remaining options and RSUs were issued to certain employees.
 
  6.
On September 20, 2021, the Company's Board of Directors approved the award of 1,250 options to the Company’s VP clinical, with an exercise price of $20.6, equal to the higher of the share price at the grant date on Nasdaq and the average closing price of our ordinary shares on Nasdaq during the 30 trading days prior to the grant date.
 
  7.
On December 9, 2021, the Company's shareholders approved the award of 57,500 options to the Company’s CEO. The options shall vest as follows: (i) two-thirds of the options (38,334 options) shall vest over a period of four years commencing on their date of grant, such that 25% of the options shall vest on the first anniversary of the date of grant and an additional 2.0833% will vest at the end of each month thereafter; and (ii) one third of the options (19,166 options) shall fully vest upon the approval by the FDA of the use of our C-Scan, in humans, subject, in each case, to the CEO’s continuing service with the Company on each applicable vesting date. The exercise price of the options of $26.8, equal to the average closing price of the Company’s ordinary shares on the Nasdaq Capital Market during the 30 trading days prior to the approval of the grant of the award by the shareholders, plus a 50% premium. The compensation expense was based on the fair value on the grant date and was estimated at approximately $749. The fair value amount is charged to the statement of operations over the vesting periods of which $335 and $23 were recorded to general and administrative expenses in the year ended December 31, 2022 and 2021, respectively.
 
  8.
Options granted to service provider. The options vest over a period of twelve (12) months.
 
  9.
On January 27, 2022, the Company's Board of Directors approved the award to certain employees of 16,800 options, with an exercise price of $12.96, equal to the higher of the share price at the grant date on Nasdaq and the average closing price of our ordinary shares on Nasdaq during the 30 trading days prior to the grant date, and 7,200 RSUs.
 
  10.
On March 21, 2022, the Company's Board of Directors approved the award of 8,472 options and 2,850 RSUs to certain executive officers and employees, of which 6,650 options and the 2,850 RSUs were granted to certain officers. The options have an exercise price of $10.184, equal to the higher of the share price at the grant date on Nasdaq and the average closing price of our ordinary shares on Nasdaq during the 30 trading days prior to the grant date.
 
  11.
On December 29, 2022, the Company's shareholders approved the award of 29,125 options to members of the Company's Board of Directors. The options shall become fully vested on the first anniversary of the date of grant, subject to each of the Board of Directors continuing service with the Company on the vesting date. The exercise price of the options is $4.14, equal to two times the closing price of the Company’s ordinary shares on the Nasdaq Capital Market on the date of the approval of the option grant by the Company’s shareholders.
 
Schedule of Parameters Used in Valuing Fair Value of Options
 
 
For the year ended December 31,
  
 
2 0 2 2
    
2 0 2 1
    
2 0 2 0
  
Expected volatility
  
109%-118%
      
115%-153%
      
95%-98%
  
Risk-free rate
  
1.7%-3.9%
      
0.81%-1.34%
      
0.31%-0.83%
  
Dividend yield
   0%       0%       0%  
Expected term (in years)
  
5.5-6.08
      
5.27-6.41
       5.88 - 6.1  
Share price

 
$2.07 - $9.58
    

 
$0.8 - $2.27
    

 
$0.28 - $1.57
  
 
Schedule of Share-Based Compensation
 
  
For the year ended December 31,
  
 
  
2 0 2 2
    
2 0 2 1
    
2 0 2 0
  
 
                  
Research and development, net
     493       329       165  
General and administrative, net
     482       162       243  
Total
     975       491       408  
Schedule of Stock Option Activity
 
        
Year ended December 31, 2022
  
 
              
Weighted
    
Aggregate
  
 
        
Weighted
    
average
    
intrinsic
  
 
        
average of
    
remaining
    
value
  
 
        
exercise
    
contractual
    
($in
  
 
        
Price
    
life
    
thousands)
  
 
  
Number
    
(in $)
    
(in years)
      
(2)
 
Options outstanding at beginning of year
     145,895       48.2       9.13       -  
Options granted
     58,239       7.75                  
Options forfeited
     (12,242
)
     59.07                  
Options exercised
     -
 
     -                  
Options outstanding at end of year
     191,892       35.35       8.59       -  
 
                                
Options exercisable at end of year
     55,259       79.79       7.39       -  

 

 
        
Year ended December 31, 2021
  
 
              
Weighted
    
Aggregate
  
 
        
Weighted
    
average
    
intrinsic
  
 
        
average of
    
remaining
    
value
  
 
        
exercise
    
contractual
    
($in
  
 
        
Price
    
life
    
thousands)
  
 
  
Number
    
(in $)
    
(in years)
      
(2)
 
Options outstanding at beginning of year
     54,516       95.3       8.74       -  
Options granted
     99,935       26.0                  
Options forfeited
     (8,206
)
     92.9                  

Options exercised

    

(350

 )    

12.0

                  
Options outstanding at end of year
     145,895       48.2       9.13       -  
 
                                
Options exercisable at end of year
     27,037       154.3       7.03       -  
 
 
        
Year ended December 31, 2020
  
 
              
Weighted
    
Aggregate
  
 
        

Weighted

    
average
    
intrinsic
  
 
        

average of

    
remaining
    
value
  
 
        
exercise
    
contractual
    
($in
  
 
        
price
    
life
    
thousands)
  
 
  
Number
    
(in $)
    
(in years)
      
(2)
 
Options outstanding at beginning of year
     27,456       204.8       8.30       -  
Options granted
     30,832       10.4                  
Options forfeited
     (3,772
)
     196.6                  
Options outstanding at end of year
     54,516       95.3       8.74       -  
 
                                
Options exercisable at end of year
     15,486       282.8       7.00       -  
 
  1.
The weighted average grant date fair values of options granted during the years ended December 31, 2022, 2021 and 2020 were $4.5, $15.7 and $8.2, respectively.
 
  2.
As of December 31, 2022, all the outstanding options in the amount of 191,892, with an average exercise price of $35.35, are out of the money. 
Restricted Stock Units (RSUs) [Member]  
Schedule of Stock Option Activity
 
  
Year ended December 31
  
 
  
2 0 2 2
    
2 0 2 1
    
2 0 2 0
  
 
  
Number of RSUs
  
Unvested at beginning of year
     16,628       3,637       4,985  
Granted
     10,050       15,000       -  
Vested
     (4,374
)
     (1,764
)
     (1,258
)
Forfeited
     (2,601
)
     (245
)
     (90
)
Unvested at end of year
     19,703       16,628       3,637