Cash Flow

v3.19.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (457,541) $ (2,675,372) [1] $ (653,461)
Adjustments required to reconcile net loss to net cash used in operating activities:      
Depreciation 25,502 24,083 [1] 20,695
Liability for minimum royalties 50,000 238,000 [1] 50,000
Changes in fair value of warrants liability and fair value of warrants expired (see Note 9) (925,910) 1,101,229 [1] (117,577)
Stock-based compensation 47,672 113,758 [1] 210,180
Inducement related to warrants exercised (see Note 9) 166,500 [1]
Financing expenses of long-term loans and other NIS denominated balances (47,589) 66,658 [1] 7,962
Decrease (increase) in other current assets (13,236) 1,120 [1] 6,143
Increase (decrease) in accounts payables 163,174 (21,874) [1] 14,491
Increase (decrease) in other current liabilities 101,632 81,488 [1] (7,822)
Net cash used in operating activities (1,056,296) (904,410) [1] (469,389)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (15,370) (3,596) [1] (34,971)
Net cash used in investing activities (15,370) (3,596) [1] (34,971)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds received from issuance of convertible bridge loan 27,000 [1]
Proceeds allocated to ordinary shares 80,345 562,604 [1] 566,569
Proceeds allocated to warrants 19,655 [1] 244,446
Proceeds from exercise of warrants, net 324,258 599,400 [1]
Proceeds from exercise of stock options 226 [1] 273
Repayments of shareholders loans [1] (23,529)
Net cash provided by financing activities 451,258 1,162,230 [1] 787,759
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (620,408) 224,254 [1] 283,399
CASH, CASH EQUIVALENTS, AND RESTIRICTED CASH AT BEGINNING OF YEAR 693,301 439,077 [1] 155,678
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR 72,893 693,301 439,077 [1]
Supplemental disclosure of non-cash activities:      
Fair value of warrants liability classified to equity in connection with warrants exercised during the period (see Note 9) 128,965 297,200 [1]
During the reported period, the entire balance of preferred shares were converted into ordinary shares (see Note 11) $ 9,424 [1]
[1] See Note 2D

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