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, 2016

Warrants Presented at Fair Value [Abstract]

Schedule of outstanding warrants classified as a liability

Outstanding		Exercise price			Exercisable through		Fair value

	1,016,668	$	1.5			2019	$	426,481	Refer to Note 9a
	743,372	$	1.5			2019		311,837	Refer to Note 6a
	120,000	$	0.92	(*)		(**)		61,200	Refer to Note 9f
	296,813	$	1.5			2020		135,762	Refer to Note 9a
	374,001	$	1.5			2021		182,041	Refer to Note 9a

	2,550,854						$	1,117,321

(*) Subject to changes as describe in the agreement.

(**) M&A or qualified IPO as described in the agreement.

- 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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