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

Significant Accounting Policies (Tables)

v3.19.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of property and equipment, net of accumulated depreciation
    %
     
Computers   15 – 33
Equipment   7 – 33
Office furniture   6 – 15
Leasehold improvements   (*)

 

  (*) Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term (including the extension option held by the Group and intended to be exercised) and the expected life of the improvement.
Schedule of intangible assets and estimated useful lives
    Estimated useful life
     
Technology   Ten (10) years
Backlog   One (1) year
Schedule of fair value for options granted using the black-scholes option-pricing model

    Year ended December 31,  
    2018     2017     2016  
                   
Dividend yield     0%       0%       0%  
Expected volatility     60%       64%-70%       68%-71%  
Risk-free interest     2.15%-2.91%       1.78%-2.28%       0.83%-0.97%  
Expected life (in years)     3.5-4.37       7       2.98  

Schedule of fair value, assets and liabilities measured on recurring basis

The following table presents liabilities measured at fair value on a recurring basis as of December 31, 2018:

 

    Fair value measurements using input type  
    Level 1     Level 2     Level 3     Total  
                         
Warrants             -               -     $ 945,025     $ 945,025  
Capital note     -       -       32,000       32,000  
                                 
Total financial liabilities     -       -     $ 977,025     $ 977,025  

 

The following table presents liabilities measured at fair value on a recurring basis as of December 31, 2017:

 

    Fair value measurements using input type  
    Level 1     Level 2     Level 3     Total  
                         
Warrants             -               -     $ 2,035,378     $ 2,035,378  
Capital note     -       -       57,658       57,658  
                                 
Total financial liabilities     -       -     $ 2,093,036     $ 2,093,036  
Schedule of liabilities measured at fair value on a recurring basis

    Level 3  
       
Balance as of January 1, 2016   $ 1,005,490  
         
Fair value of warrants issued and capital note     183,260  
Changes in Fair value of warrants and capital note     (25,936 )
         
Balance as of December 31, 2016     1,162,814  
         
Fair value of warrants issued     684,015  
Fair value of warrants granted for services     738,091  
Changes in Fair value of warrants and capital note     (491,884 )
         
Balance as of December 31, 2017     2,093,036  
         
Fair value of warrants issued     966,094  
Fair value of warrants granted for services     119,779  
Changes in Fair value of warrants and capital note     (2,201,884 )
         
Balance as of December 31, 2018   $ 977,025