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Share Capital (Tables)
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Summary of Stock Option Activity

A summary of the Company’s option activity related to options to employees and directors, and related information is as follows:

 

    For the year ended December 31, 2016  
    Number of stock options     Weighted average exercise price     Aggregate intrinsic value  
Outstanding at beginning of period     1,167,693     $ 0.28          
Granted     1,447,223       (*)          
Exercised     -       -          
Cancelled     -       -          
Outstanding at end of period     2,614,916     $ 0.13     $ 15,611,049  
Vested and expected-to-vest at end of period     2,614,916     $ 0.39     $ 15,611,049  

 

 

 

(*) Less than $0.01.

 

    For the year ended December 31, 2015  
    Number of stock options     Weighted average exercise price     Aggregate intrinsic value  
Outstanding at beginning of period     1,167,693     $ 0.28          
Granted     -       -          
Exercised     -       -          
Cancelled     -       -          
Outstanding at end of period     1,167,693     $ 0.28     $ -  
Vested and expected-to-vest at end of period     1,167,693     $ 0.28     $ -  
Schedule of Stock Options Outstanding

The stock options outstanding as of December 31, 2016, and December 31, 2015, have been separated into exercise prices, as follows:

 

Exercise price     Stock options outstanding as of December 31,     Weighted average remaining contractual life – years as of December 31,     Stock options exercisable as of December 31,  
$     2016     2015     2016     2015     2016     2015  
                                       
  0.28       1,167,693       1,167,693       8.0       9.0       1,167,693       1,167,693  
  (*)       1,447,223       -       9.5       -       1,447,223       -  
          2,614,916       1,167,693       7.4       8.2       2,614,916       1,167,693  

 

 

(*) Less than $0.01.
Schedule of Stock Options Valuation Assumptions

The fair value of the stock options is estimated at the date of grant using Black-Scholes options pricing model with the following weighted-average assumptions:

 

    Years ended December 31,  
    2016     2015  
             
Expected volatility     77.3 %     70.0 %
Risk-free interest     0.6 %     1.0 %
Dividend yield     0 %     0 %
Expected life of up to (years)     5.0       5.0