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Share Capital (Tables)
 3 Months Ended
Mar. 31, 2017
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 three month period ended

March 31, 2017

  
    Number of
stock options		     Weighted average
exercise price		     Aggregate
intrinsic value		  
                   
Outstanding at beginning of period   2,614,916     $ 0.13        
Granted     -       -          
Exercised     -       -          
Cancelled     -       -          
                         
Outstanding at end of period     2,614,916     $ 0.13     $ 14,852,723  
Vested and expected-to-vest at end of period     2,614,916     $ 0.13     $ 14,852,723  

 

   

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 1
Schedule of Stock Options Outstanding

  The stock options outstanding as of March 31, 2017, and December 31, 2016, have been separated into exercise prices, as follows:

 

Exercise price   Stock
options
outstanding
as of
March 31,		     Stock
options
outstanding
as of
December 31,		     Weighted
average
remaining
contractual
life – years
as of
March 31,		     Weighted
average
remaining
contractual
life – years
as of
December 31,		     Stock
options
exercisable
as of
March 31,		     Stock
options
exercisable
as of
December 31,		  
$   2017     2016     2017     2016     2017     2016  
                                     
0.28     1,167,693       1,167,693       7.75       8.0       1,167,693       1,167,693  
(*)     1,447,223       1,447,223       9.25       9.5       1,447,223       1,447,223  
      2,614,916       2,614,916       7.15       7.4       2,614,916       2,614,916  

 

 

(*)       Less than 1
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:

 

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