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

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (653,461) $ (818,541) $ (322,067)
Adjustments required to reconcile net loss to net cash used in operating activities:      
Depreciation 20,695 11,898 434
Liability for minimum royalties 50,000 35,000 0
Changes in fair value of warrants liability (117,577) (35,188) 0
Stock-based compensation 210,180 219,239 0
Financing expenses of long-term loans & other Shekel denominated balances 7,962 (8,201) (73,322)
Decrease (increase) in other current assets 6,143 37,374 (1,616)
Increase (decrease) in accounts payables 14,491 (7,995) 6,965
Decrease (increase) in other current liabilities (7,822) (48,240) 72,058
Net cash used in operating activities (469,389) (614,654) (317,548)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (34,971) (117,788) (2,021)
Net cash used in investing activities (34,971) (117,788) (2,021)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds allocated to ordinary shares, net 566,569 659,485 273,840
Proceeds allocated to warrants 244,446 168,035 0
Proceeds from exercise of stock options 273 0 0
Proceeds on receipts on account of ordinary shares 0 0 57,356
Repayments of shareholders loans (23,529) 0 0
Proceeds from shareholders loans 0 0 30,432
Net cash provided by financing activities 787,759 827,520 361,628
INCREASE IN CASH AND CASH EQUIVALENTS 283,399 95,078 42,059
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 155,678 60,600 18,541
CASH AND CASH EQUIVALENTS AT END OF YEAR 439,077 155,678 60,600
Cash paid during the year for:      
Interest $ 0 $ 0 $ 0