Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (DEFICIENCY) (Details)

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STOCKHOLDERS' EQUITY (DEFICIENCY) (Details) - $ / shares
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2014
Total outstanding 2,535,272 2,735,247  
Exercise price     $ 2.66
November 2011 Warrants [Member]      
Total outstanding [1],[2] 245,893  
Exercise price [1],[2] $ 1.393    
Expiration date [1],[2] November 15, 2018    
February 2015 Warrants [Member]      
Total outstanding [3] 686,667 686,667  
Expiration date [3] February 30, 2019    
February 2015 Warrants [Member] | Minimum [Member]      
Exercise price [3] $ 3.00    
February 2015 Warrants [Member] | Maximum [Member]      
Exercise price [3] $ 6.00    
March through September 2017 Warrants [Member]      
Total outstanding [4] 552,000 552,000  
Exercise price [4] $ 5.90    
Expiration date [4] May through September 2022    
November 2017 Warrants [Member]      
Total outstanding [5] 1,296,605 1,250,687  
Exercise price [5] $ 6.90    
Expiration date [5] November 1, 2022    
[1] In February 2013 through December 2014, the Company issued to some of its stockholders warrants to purchase 563,910 shares of Common stock. The exercise price at which the warrant may be exercised is $ 2.66 per share, subject to adjustment for stock splits, fundamental transactions or similar events. The warrants were to expire in February 2018 through December 2019, based on the issuance date (see also Note 8a). On October 4, 2017, these warrants were cashless exercised (see also Note 10e).
[2] In November 2011, the Company issued to some of its stockholders warrants to purchase 2,319,062 shares of Series B-2 Preferred stock with a fixed exercise price of $ 0.199 per share (reflecting a 30% discount on the fair value of the Company's Preferred stock on that date). The warrants expire on November 15, 2018. On May 2014, the Company effected a reverse split of the Company's stock of seven to one. In addition, on April 2015 all of the Company's B-2 warrants were reclassified as warrants to common shares. As a result, these warrants have a fixed exercise price of $1.393 to purchase 331,293 shares of Common Stock. During 2017, 85,400 of the Company's B2 Warrants were exercised. During 2018, an additional 68,799 B2 Warrants were exercised and the remaining 177,094 B2 Warrants expired.
[3] In February 2015, the Company negotiated a securities purchase agreement which included warrants to purchase 840,000 shares of Common stock. The exercise price at which the warrant may be exercised is $3 for 420,000 shares and $6 for 420,000 shares, subject to certain adjustments. The warrants to purchase the 840,000 shares were to expire by February 2017. However, in January 2017, the Company agreed to extend the warrants to purchase the 840,000 shares by additional two years until February 2019 pursuant to the Warrant Amendment. On November 2, 2017, 153,333 of such warrants were cashless exercised (see also Note 10f).
[4] During the period March 1, 2017 through September 30, 2017, the Company completed a series of bridge financings pursuant to which the Company have received from accredited investors aggregate proceeds of $1,380 in exchange for 2017 Notes in the aggregate principal amount of $1,380, and seven-year Warrants to purchase an aggregate of 552,000 shares of common stock at an exercise price of $5.90 per share.
[5] In conjunction with the Company's Offering for the issuance of 1,224,488 shares of the Company's Common stock, the Company also issued warrants to purchase up to 918,366 shares of common stock. Additionally, the Company issued to the underwriters a unit purchase option to purchase units at an exercise price equal to $6.125 pursuant to which an aggregate of 61,224 shares and warrants to purchase 45,918 shares are issuable to the underwriters. Upon closing of the Offering, the 2017 Notes were automatically converted and as a result the Company issued an aggregate of 361,462 shares of common stock (and common stock equivalents) and warrants to purchase an aggregate of 271,096 shares of common stock. The warrants have an exercise price of $6.90 per share, subject to adjustment for stock splits, fundamental transactions or similar events and shall expire on November 1, 2022.