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

Loss per Ordinary Share

Loss per Ordinary Share
12 Months Ended
Dec. 31, 2017
Loss per Ordinary Share [Abstract]  
Loss per Ordinary Share



The loss and the weighted average number of ordinary shares used in computing basic and diluted loss per ordinary share for the years ended December 31, 2017, 2016 and 2015, are as follows:


    Year ended December 31  
    2017     2016     2015  
Loss for the year   $ 2,675,372     $ 653,461     $ 818,541  
Less: Loss attributed to preferred shares     31,950       32,483       51,084  
Loss for the year attributable to ordinary shareholders   $ 2,643,422     $ 620,978     $ 767,457  
Weighted average number of ordinary shares outstanding attributable to ordinary shareholders     68,587,261       62,467,556       45,190,017  


During the years ended December 31, 2016 and 2015, 4,518,406 and 3,106,000, three-year warrants, respectively, were issued - as described in Note 8. These warrants are participating securities as described in Note 2.K. but were not taken into account in calculating either the basic or diluted loss per ordinary share, as their effect was anti-dilutive. During the years ended December 31, 2017 and 2016 there were no other potentially dilutive instruments (except for the convertible preferred shares).


During the year ended December 31, 2017, and 2016 the total weighted average number of ordinary shares related to outstanding options and warrants excluded from the calculation of the diluted loss per share was 7,717,721 and 1,182,066 respectively.