XML 43 R31.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Derivative Warrant Liabilities (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2018 | Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |  |
Schedule of Outstanding Warrants Liabilities | The remaining outstanding warrants and terms as of June 30, 2018 and December 31, 2017 is as follows (*):
Issuance date |  | Outstanding as of December 31, 2017 |  |  | Outstanding as of June 30, 2018 |  |  | Exercise Price |  |  | Exercisable as of June 30, 2018 |  |  | Exercisable Through
Series A (2013) |  |  | 3,895 |  |  |  | 3,895 |  |  | $ | 2,885 |  |  |  | 3,895 |  |  | October 2018
Series A (2013) |  |  | 183 |  |  |  | 183 |  |  | $ | 2,725 |  |  |  | 183 |  |  | April 2023
Series A (2015) |  |  | 683 |  |  |  | 683 |  |  | $ | 1,363 |  |  |  | 683 |  |  | April 2020
Series A (2016) (a) |  |  | 625 |  |  |  | - |  |  | $ | - |  |  |  | - |  |  | March 2018
Series B (2016) (a) |  |  | 2,770 |  |  |  | 2,770 |  |  | $ | 40 |  |  |  | 2,770 |  |  | March 2022
| (*) | Share data represents the number of shares adjusted to retroactively reflect the 1:15 Reverse Split effected on September 4, 2018.
| a) | These warrants contain a full ratchet anti-dilution price protection so that, in most situations upon the issuance of any common stock or securities convertible into common stock at a price below the then-existing exercise price of the outstanding warrants, the warrant exercise price will be reset to the lower common stock sales price. As such anti-dilution price protection does not meet the specific conditions for equity classification, the Company is required to classify the fair value of these warrants as a liability, with changes in fair value to be recorded as income (loss) due to change in fair value of warrant liability. The estimated fair value of our warrant liability at June 30, 2018 and December 31, 2017, was approximately $14 and $28, respectively.
| The remaining outstanding warrants and terms as of December 31, 2017 and 2016 is as follows:
Issuance date |  | Outstanding as of December 31, 2016(*) |  |  | Outstanding as of December 31, 2017(*) |  |  | Exercise Price (*) |  |  | Exercisable as of December 31, 2017(*) |  |  | Exercisable Through
Series A (2011) |  |  | 4,327 |  |  |  | - |  |  | $ | 2,244 |  |  |  | - |  |  | December 2016
Series A (2013) |  |  | 3,895 |  |  |  | 3,895 |  |  | $ | 2,885 |  |  |  | 3,895 |  |  | October 2018
Series A (2013) |  |  | 183 |  |  |  | 183 |  |  | $ | 2,725 |  |  |  | 183 |  |  | April 2023
Series A (2015) |  |  | 683 |  |  |  | 683 |  |  | $ | 1,363 |  |  |  | 683 |  |  | April 2020
Series A (2016)(a) |  |  | 677 |  |  |  | 625 |  |  | $ | 40 |  |  |  | 625 |  |  | March 2018
Series B (2016)(a) |  |  | 2,770 |  |  |  | 2,770 |  |  | $ | 40 |  |  |  | 2,770 |  |  | March 2022
| (*) | December 31 2017 and 2016 warrants data represents the number of shares adjusted to retroactively reflect the 1:15 Reverse Split effected on September 4, 2018.
| a) | These warrants contain a full ratchet anti-dilution price protection so that, in most situations upon the issuance of any common stock or securities convertible into common stock at a price below the then-existing exercise price of the outstanding warrants, the warrant exercise price will be reset to the lower common stock sales price. As such anti-dilution price protection does not meet the specific conditions for equity classification, the Company is required to classify the fair value of these warrants as a liability, with changes in fair value to be recorded as income (loss) due to change in fair value of warrant liability. The estimated fair value of our warrant liability at December 31, 2017 and December 31, 2016, was approximately $28 and $313, respectively.
Schedule of Valuation of Derivative Warrant Liabilities | The following table summarizes the observable inputs used in the valuation of the derivative warrant liabilities as of June 30, 2018 and December 31, 2017(**):
|  | Series A (2011) |  |  | Series A (2013) |  |  | Series A (2013) |  |  | Series A (2015) |  |  | Series A (2016) |  |  | Series B (2016) |  |  | Total |
Balances at December 31, 2017 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | (* | ) |  | $ | 28 |  |  | $ | 28 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
expiration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (* | ) |  |  | - |  |  |  | (* | )
Changes in fair value |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (14 | ) |  |  | (14 | )
Balances at June 30, 2018 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 14 |  |  | $ | 14 |
(*) Less than 1
| (**) | Share data represents the number of shares adjusted to retroactively reflect the 1:15 Reverse Split effected on September 4, 2018.
| The following table summarizes the observable inputs used in the valuation of the derivative warrant liabilities as of December 31, 2017 and December 31, 2016 (in thousands)(**):
|  | Series A (2011) |  |  | Series A (2013) |  |  | Series A (2013) |  |  | Series A (2015) |  |  | Series A (2016) |  |  | Series B (2016) |  |  | Total |
|  | (in thousands) |
Balances at December 31, 2016 |  | $ | - |  |  | $ | 12 |  |  | $ | 9 |  |  | $ | 22 |  |  | $ | 43 |  |  | $ | 227 |  |  | $ | 313 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Changes in fair value |  |  | - |  |  |  | (12 | ) |  |  | (9 | ) |  |  | (22 | ) |  |  | (43 | ) |  |  | (199 | ) |  |  | (285 | )
Balances at December 31, 2017 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | $ (*) |  |  | $ | 28 |  |  | $ | 28 |
| (*) | Less than 1
| (**) | Share data represents the number of shares adjusted to retroactively reflect the 1:15 Reverse Split effected on September 4, 2018.
Schedule of Fair Value Assumption | The following table summarizes the observable inputs used in the valuation of the derivative warrant liabilities as of June 30, 2018 and December 31, 2017(*):
|  | As of June 30, 2018 |  |  | As of December 31, 2017 |
|  | Series A (2016) |  |  | Series B (2016) |  |  | Series A (2016) |  |  | Series B (2016) |
Share price |  |  | — |  |  | $ | 11 |  |  | $ | 15.1 |  |  | $ | 15.1 |
Exercise price |  |  | — |  |  | $ | 40 |  |  | $ | 40 |  |  | $ | 40 |
Expected volatility |  |  | — |  |  |  | 102.8 | % |  |  | 60 | % |  |  | 119 | %
Risk-free interest |  |  | — |  |  |  | 2.39 | % |  |  | 1.24 | % |  |  | 1.89 | %
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expected life of up to (years) |  |  | — |  |  |  | 3.75 |  |  |  | 0.25 |  |  |  | 4.25 |
| (*) | Share data represents the number of shares adjusted to retroactively reflect the 1:15 Reverse Split effected on September 4, 2018.
| The following table summarizes the observable inputs used in the valuation of the derivative warrant liabilities as of December 31, 2017 and December 31, 2016:
|  | As of December 31, 2017(*) |  |  | As of December 31, 2016(*) |
|  | Series A (2016) |  |  | Series B (2016) |  |  | Series A (2016) |  |  | Series B (2016) |
Share price |  | $ | 15.1 |  |  | $ | 15.1 |  |  | $ | 90.5 |  |  | $ | 90.5 |
Exercise price |  | $ | 40 |  |  | $ | 40 |  |  | $ | 40 |  |  | $ | 40 |
Expected volatility |  |  | 60 | % |  |  | 119 | % |  |  | 380 | % |  |  | 380 | %
Risk-free interest |  |  | 1.24 | % |  |  | 1.89 | % |  |  | 0.85 | % |  |  | 1.93 | %
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expected life of up to (years) |  |  | 0.25 |  |  |  | 4.25 |  |  |  | 1.2 |  |  |  | 5.2 |
| (*) | December 31 2017 and 2016 options data represents the number of shares adjusted to retroactively reflect the 1:15 Reverse Split effected on September 4, 2018.
Schedule of Liabilities Measured on a Recurring Basis | Activity in such liabilities measured on a recurring basis is as follows:
|  | Derivative Warrant Liabilities |
As of December 31, 2017 |  | $ | 28 |
Revaluation of warrants |  |  | (14 | )
As of June 30, 2018 |  | $ | 14 |
|  |  | Derivative Warrant Liabilities |
As of December 31, 2016 |  | $ | 313 |
Revaluation of warrants |  |  | (285 | )
Exercise warrants |  |  | (* | )
As of December 31, 2017 |  | $ | 28 |
(*) Less than 1 | Activity in such liabilities measured on a recurring basis is as follows:
|  | Derivative warrant liabilities |
|  | (in thousands) |
As of December 31, 2016 |  | $ | 313 |
Revaluation of warrants |  |  | (285 | )
Exercise warrants |  |  | (* | )
As of December 31, 2017 |  | $ | 28 |
(*) Less than 1
|  | Derivative warrant liabilities |
|  | (in thousands) |
As of November 30, 2016 |  | $ | 575 |
Revaluation of warrants |  |  | (262 | )
Exercise warrants |  |  | (* | )
As of December 31, 2016 |  | $ | 313 |
(*) Less than 1

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration