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SHARE CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
SUMMARY OF STOCK OPTION ACTIVITY

A summary of the Company’s option activity related to options to employees and directors, and related information is as follows:

 

   For the Year Ended December 31, 2021 
   Number of stock options   Weighted average exercise price 
         
Outstanding as of December 31, 2020   575,722   $9.14 
Granted   421,426    7.60 
Exercised   (965)   - (*) 
Forfeited   (8,818)   - 
Outstanding as of December 31, 2021   997,148   $8.48 
           
Vested at end of period   568,053   $9.08 

 

   For the Year Ended December 31, 2020 
   Number of stock options   Weighted average exercise price 
         
Outstanding as of December 31, 2019   371,360   $9.19 
Granted   214,145    9.00 
Exercised   (965)    (*) 
Forfeited   (8,818)   - 
Outstanding as of December 31, 2020   575,722   $9.14 
           
Vested at end of period   332,104   $9.13 

 

 

(*)Less than $ 0.01
SCHEDULE OF STOCK OPTIONS OUTSTANDING

The stock options outstanding as of December 31, 2021 and December 31, 2020, summarized by exercise prices, are as follows:

 

Exercise price $   Stock options outstanding as of
December 31,
2021		   Stock options outstanding as of
December 31,
2020		   Weighted average remaining contractual life – years as of
December 31,
2021		   Weighted average remaining contractual life – years as of
December 31,
2020		   Stock options exercisable as of
December 31,
2021		   Stock options exercisable as of
December 31,
2020		 
4.20    77,846    77,846    3.0    4.0    77,846    77,846 
5.06    15,808    15,808    7.8    8.8    11,064    6,320 
5.95    17,503    17,503    7.6    8.6    13,564    8,312 
6.16    31,492    31,492    8.5    9.5    16,834    6,250 
6.72    125,000    -    9.4    -    31,249    - 
7.00    81,426    -    9.8    -    -    - 
7.22    11,084    11,084    8.9    9.3    4,432    - 
7.26    25,000    -    9.8    -    -    - 
8.16    4,902    4,902    8.6    9.5    2,328    - 
8.48    190,000    -    9.1    -    -    - 
8.60    9,304    9,304    7.1    8.1    9,304    7,208 
9.00    10,000    10,000    6.6    7.6    10,000    7,750 
9.64    166,666    166,666    8.2    9.2    166,666    - 
15.30    38,533    38,533    6.0    7.0    38,533    38,533 
15.75    131,007    131,007    5.7    6.7    124,656    118,308 
(*)     61,577    61,577    4.3    5.3    61,577    61,577 
     997,148    575,722    7.6    7.3    568,053    332,104 

 

(*)Less than $0.01.
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS

The grant date fair values of stock options granted in the years ended December 31, 2021 and 2020 were estimated using the Black-Scholes valuation model with the following:

 

   For the Years Ended December 31, 
   2021   2020 
Expected volatility   118.34%-134.27%   113.86%-135.21%
Risk-free interest   0.42%-1.22%   0.33%-1.62%
Dividend yield   0%   0%
Expected terms (years)   5.28-5.33    5.5-5.8 
SCHEDULE OF WARRANTS OUTSTANDING

The remaining outstanding warrants and terms as of December 31, 2021 and 2020 are as follows:

 

Issuance date  Outstanding and exercisable as of December 31, 2021 and 2020   Exercise Price    Exercisable Through
Series A (2013   183   $2,754.00    April 9, 2023
Series B (2016)   2,770   $40.50    March 14, 2022
Warrant to underwriters 1.2019   8,082   $8.13    July 14, 2022
Warrant to underwriters 1.2019   29,500   $12.50    July 15, 2022
Warrant to underwriters 12.2019   45,643   $13.13    June 25, 2023
Warrant to underwriters 12.2019   47,619   $13.13    June 27, 2023
Warrant to underwriters 12.2019   45,045   $13.88    June 30, 2023