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

Stock Options (Tables)

v3.8.0.1
Stock Options (Tables)
12 Months Ended
Dec. 31, 2017
Stock Options [Abstract]  
Schedule of stock option activity for employees and directors
    Number of Options     Weighted Average Exercise Price  
Outstanding at December 31, 2016     2,068,605       0.0026  
Granted     -       -  
Exercised     (81,432 )     0.0026  
Forfeited or expired     (228,858 )     -  
Outstanding at December 31, 2017     1,758,315       0.0026  
Number of options exercisable at December 31, 2017     827,443       0.0026  

 

    Number of Options     Weighted Average Exercise Price  
Outstanding at December 31, 2015     -       -  
Granted     2,172,033       0.0026  
Exercised     (103,432 )     0.0026  
Forfeited or expired     -       -  
Outstanding at December 31, 2016     2,068,605       0.0026  
Number of options exercisable at December 31, 2016     439,580       0.0026
Schedule of fair value of options granted
    Years ended December 31,  
    2016  
Dividend yield     0  
Expected volatility (%) (*)     100 %
Risk-free interest rate (%)     1 %
Expected term (years) (**)     2.5  
Exercise price (US dollars)     0.0026  
Stock price (US dollars) (***)     0.15  

 

(*) Due to the low trading volume of the Company’s Common Stock, the expected volatility was based on the historical volatility of the share price of other public companies that operate in the same industry sector as the Company.

 

(**) Due to the fact that the Company does not have sufficient historical exercise data, the expected term was determined based on the “simplified method” in accordance with SEC Staff Accounting Bulletin No. 110.

 

(***) The Common Stock price, per share reflects the Company’s management’s estimation of the fair value per share of Common Stock. In reaching its estimation for 2016 grants, management considered, among other things, the valuation of the issuance of the shares under the private placement (see Note 10-F above)
Schedule of information about options to employees, officers and directors outstanding
    Options Outstanding     Options Exercisable  
Exercise Price   Number of Options     Weighted Average Remaining Contractual Life (Years)     Number of Options     Weighted Average Exercise Price  
0.0026     1,758,315       3.03       827,443       0.0026  
      1,758,315       3.03       827,443       0.0026