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

Loans and Convertible Bridge Financing (Details)

v3.21.1
Loans and Convertible Bridge Financing (Details) - USD ($)
1 Months Ended 12 Months Ended
Mar. 08, 2020
Nov. 10, 2018
Oct. 10, 2018
Mar. 08, 2018
Jul. 31, 2020
Dec. 31, 2019
Apr. 30, 2019
Dec. 29, 2018
Oct. 31, 2018
Jan. 31, 2018
Dec. 27, 2017
Aug. 31, 2017
Mar. 22, 2017
Feb. 28, 2017
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Mar. 31, 2021
Mar. 31, 2020
Aug. 31, 2019
Mar. 31, 2019
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Dividend yield     0.00%             0.00% 0.00%     0.00%              
Expected volatility     59.69%             59.69% 59.69%     71.39%              
Expected life in years     2 years             4 years 9 months 5 years     4 years 36 days              
Fair value of warrants amounted                             $ (33,382) $ (2,280,318) $ (491,884)        
Fair value of instruments aggregated     $ 500,741                                    
Risk free rate     2.82%             2.13% 2.25%     2.10%              
Fair value of warrants           $ 916,403                 916,403 490,000          
Management minimum forecast                             2,500,000            
Convertible loans [1]           $ 150,000                 $ 150,000          
Investments description                             the Company’s valuation for purposes of all investments after January 1, 2018 shall be $2.0 million pre-money as of such date, thereby reflecting a price per share of $0.068, and (b) GTRIMG shall make loans to the Company of $100,000 per month for a period of 12 months commencing April 1, 2020, and under the same terms as the Convertible Loan Agreement, as adjusted under (a) above, or the Additional MOU Loans            
Far at price per share (in Dollars per share)           $ 0.068                 $ 0.068            
Warrants amount           $ 1,413,260                 $ 1,413,260            
Convertible debt non-current           291,474                 291,474 1,809,816          
CLA August 2017 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount                       $ 905,555                  
Warrants liabilities           492,034           $ 37,592     $ 492,034            
Dividend yield                       0.00%     0.00%            
Expected volatility                       69.00%     69.00%            
Risk free rate                       2.16%     2.16%            
Expected life in years                       4 years 229 days     4 years 233 days            
Fair value of warrants amounted                             $ 32 266          
Aggregate subscription amount                       $ 774,400                  
Net of issuance costs                       $ 40,600                  
Exercise price (in Dollars per share)                       $ 1.00                  
Additional warrants (in Shares)                             22,322            
Convertible Loan Agreement [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount     $ 1,000,000                                    
Warrants to purchase ordinary shares (in Shares)                 1,659,971                        
Warrants liabilities                 $ 42,591                        
Dividend yield                 0.00%                        
Expected volatility                 59.69%                        
Risk free rate                 2.96%                        
Expected life in years                 3 years 9 months                        
Fair value of warrants amounted                             $ 11,522 $ 66,004          
Exercise price (in Dollars per share)     $ 0.17           $ 0.17                        
Interest rate     4.00%                                    
Debt instrument, description     the Company entered into a Convertible Loan Agreement with an existing investor who invested relatively low amounts previously (“CLA October 2018”). Pursuant to this Agreement, the investor provided the Company with a convertible loan in an aggregate principal amount of $1,000,000 at an exercise price as defined in the convertible loan agreement but no less than $0.17. The convertible loan bears an interest rate at Israeli prime plus 4% per annum. Under the terms of the CLA October 2018, the investor was granted an option to lend the Company an additional amount up to $2,000,000, (“Additional Loan Amount”) and also issued the investor a warrant to purchase ordinary shares for an aggregate purchase price of $5,000,000, and an additional warrant conditioned upon the investment of an additional Loan Amount to purchase ordinary shares for an aggregate purchase price of up to $5,000,000 calculated pro-rata to the amount out of the Additional Loan Amount provided.                       The Company determined that the $100,000 CLA received in August 2019 contained a BCF of $21,445 and recorded such BCF in the additional paid in capital in the year ended December 31, 2019. The Company also issued the investor for the entire $1,250,000 additional investments mentioned above a warrant to purchase ordinary shares for an aggregate purchase price of $3,125,000. Such convertible loans bears same terms as the CLA October 2018.            
Convertible loans           3,899,516                 $ 3,899,516            
Convertible debt non-current           291,474                 291,474            
CLA March 2018 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount       $ 150,000                                  
Loan bears an interest rate and terms, description                               the Company used the following assumptions: 0% dividend yield, 59.69% expected volatility, 2.51% risk free rate and 5 expected life in years) and were reclassified to equity due to their nature.          
Warrants to purchase ordinary shares (in Shares)       400,000                       200,000          
Warrants liabilities                               $ 82,748          
Dividend yield                               0.00%          
Expected volatility                               59.69%          
Risk free rate                               2.51%          
Expected life in years       5 years                       5 years          
Fair value of warrants amounted                               $ 4,314          
Exercise price (in Dollars per share)       $ 0.50                                  
Interest rate       5.00%                                  
Conversion price (in Dollars per share)       $ 1.00                                  
Fair value ordinary share (in Dollars per share)                               $ 1.00          
CLA May 2018 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Loan bears an interest rate and terms, description pursuant to which the shareholders provided the Company with an 18 month convertible loan in an aggregate principal amount of $170,000 and received from the Company warrants to purchase 170,000 ordinary shares at an exercise price of $0.50 per ordinary share. The loan amount is convertible into ordinary shares at a conversion price of $1.00 per ordinary share. The loan includes a 10% original issue discount and bears interest of 6% per annum. In accordance with the accounting guidance on convertible instruments, the BCF of $15,300 was recognized in additional paid in capital. The warrants may be exercised, in whole or in part, for a period of five (5) years. Such warrants were classified as equity due to their nature, their fair value upon issuance date amounted to $65,718 (the Company used the following assumptions: 0% dividend yield, 59.69% expected volatility, 2.80% risk free rate and 5 expected life in years).                                        
CLA November 2018 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount   $ 225,000                                      
Fair value of warrants amounted   $ 0.17                                      
Interest rate   4.00%                                      
Aggregate purchase price   $ 1,125,000                                      
CLA December 2018 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount               $ 400,000                          
Dividend yield               0.00%                          
Expected volatility               59.69%                          
Risk free rate               2.48%                          
Expected life in years               2 years                          
Fair value of warrants amounted               $ 180,281             $ 107,602 $ 151,858          
Interest rate               4.00%                          
Finders fee, description               As part of the CLA December 2018 the Company paid a finder’s fee of $40,000 and issued a five-year warrant commencing February 2019 to purchase ordinary shares for an aggregate purchase price of $240,000. The conversion price for both the loan amount and the warrants is defined in the convertible loan agreement but no less than $0.17.                          
CLA January-April 2019 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount             $ 200,000                            
Dividend yield                             0.00%            
Expected volatility                             59.69%            
Risk free rate                             2.11%            
Expected life in years                             2 years            
Fair value of warrants amounted                             $ 98,377            
Interest rate             4.00%                            
Conversion price (in Dollars per share)             $ 0.17                            
Aggregate purchase price             $ 1,000,000                            
Warrants amount           61,541                 $ 61,541            
CLA August-December 2019 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount           $ 475,000                              
Dividend yield                             0.00%            
Expected volatility                             54.50%            
Risk free rate                             1.60%            
Expected life in years                             2 years            
Fair value of warrants amounted                             $ 409,668            
Interest rate           4.00%                 4.00%            
Conversion price (in Dollars per share)           $ 0.17                 $ 0.17            
Aggregate purchase price           $ 2,375,000                              
Warrants amount           $ 227,998                 $ 227,998            
Ya Ii Pn Ltd [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Debt aggregate principal amount                         $ 162,000                
Commitment fees                         $ 12,000                
Loan bears an interest rate and terms, description                         The loan bears an interest rate of 12% annually, which must be repaid in five (5) equal monthly installments, commencing on May 31, 2017 and ending on September 30, 2017                
Warrants liabilities                         $ 24,573                
Dividend yield                         0.00%                
Expected volatility                         71.00%                
Risk free rate                         2.12%                
Expected life in years                         4 years 80 days                
Fair value of warrants amounted                             $ 3 72          
Convertible Notes [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Loan bears an interest rate and terms, description                             The notes mature after 14-24 months and may be converted into ordinary shares, subject to the terms of such notes.            
Interest rate           10.00%                 10.00%            
Debt instrument interest rate           6.00%                 6.00%            
Shares converted, description                             The initial conversion price of the notes was $1.00, but it was adjusted in January 2018 to $0.50 and further adjusted in October 2018 to $0.17.            
Convertible Notes           $ 98,865                 $ 98,865 $ 59,207          
Conversion of shares (in Shares)                             576,270 178,689          
Debt instrument, description                             In June 2020, $35,145 of the convertible notes were converted into 206,735 ordinary shares and in January and February 2021, $84,758 of the convertible notes were converted into 498,578 ordinary shares.            
Investor [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Investor additional amounts           150,000 $ 500,000               $ 150,000         $ 100,000 $ 500,000
Five Year Warrants [Member] | CLA August 2017 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Warrants to purchase ordinary shares (in Shares)                       33,332     905,555            
Exercise price (in Dollars per share)                       $ 1.20     $ 1.20            
Additional warrants (in Shares)                       33,332                  
Five Year Warrants [Member] | Ya Ii Pn Ltd [Member] | Loan Agreement [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Warrants to purchase ordinary shares (in Shares)                         50,000                
Exercise price (in Dollars per share)                         $ 1.50                
Warrant [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Dividend yield     0.00%                                    
Expected volatility     59.69%                                    
Risk free rate     2.87%                                    
Expected life in years     2 years                                    
Fair value of warrants amounted     $ 79,227                       $ 50,510 $ 78,796          
Warrants amount           $ 117,209                 117,209            
Warrant [Member] | CLA August 2017 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Fair value of warrants amounted                             22,027 35,802          
Warrant [Member] | CLA March 2018 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Dividend yield       0.00%                                  
Expected volatility       59.69%                                  
Risk free rate       2.65%                                  
Expected life in years       5 years                                  
Fair value of warrants amounted       $ 214,996                                  
Warrant [Member] | CLA December 2018 [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Dividend yield               0.00%                          
Expected volatility               59.69%                          
Risk free rate               2.51%                          
Expected life in years               5 years                          
Fair value of warrants amounted               $ 45,327             $ 49,100 $ 45,342          
Forecast [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Conversion price (in Dollars per share)                                   $ 0.17      
Available in our bank account                                     $ 1,250,000    
Convertible loans                                     $ 150,000    
Forecast [Member] | Investor [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Investor additional amounts         $ 2,000,000                                
Forecast [Member] | Warrant [Member]                                          
Loans and Convertible Bridge Financing (Details) [Line Items]                                          
Investor additional amounts         16,748                                
Aggregate purchase price         $ 83,740                                
[1] Such amount was collected in January 2020, see Note 8.e. for additional information.