Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Warrants Presented At Fair Value (Tables)

Warrants Presented At Fair Value (Tables)

12 Months Ended

Dec. 31, 2015

Warrants Presented At Fair Value [Abstract]

Schedule of outstanding warrants classified as a liability

Issuance date	Outstanding		Exercise price		Exercisable through

2009		117,209	$	0.00	Exit event
2011		84,821	$	0.92	(*)
2012		35,177	$	0.92	(*)
2012		59,385	$	0.92	2023
2013		8,180	$	0.92	(*)
2014		51,100	$	1.50	(*)
2014		5,200	$	1.50	(**)
2015		4,337	$	1.50	(**)

		365,409

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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