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Share Capital (Tables)
 12 Months Ended
Dec. 31, 2019
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 followed:

 

    For the Year ended December 31, 2019  
    Number of
stock options		     Weighted average
exercise price		  
             
Outstanding at beginning of period     398,308     $ 11.50  
Granted     48,893       6.20  
Cancelled     (28,690 )     -  
Forfeited     (47,151 )     -  
Outstanding at end of period     371,360     $ 9.19  
                 
Vested at end of period     270,827     $ 8.48  

 

    For the Year ended December 31, 2018  
    Number of
stock options		     Weighted average
exercise price		  
             
Outstanding at beginning of period     414,965     $ 11.70  
Granted     10,000       9.00  
Forfeited     (2,487 )     -  
Cancelled     (24,170 )     -  
Outstanding at end of period     398,308     $ 11.50  
                 
Vested at end of period     245,010     $ 8.45  
Schedule of Stock Options Outstanding

The stock options outstanding as of December 31, 2019 and December 31, 2018, summarized by exercise prices, are as follows:

 

Exercise
price $		     Stock options outstanding as of December 31, 2019     Stock options outstanding as of December 31, 2018     Weighted average remaining contractual life – years as of December 31, 2019     Weighted average remaining contractual life – years as of December 31, 2018     Stock options exercisable as of December 31, 2019     Stock options exercisable as of December 31, 2018  
                                       
  4.20       77,846       77,846       6.0       7.0       77,846       77,846  
  15.75       133,546       133,546       7.8       8.8       90,641       53,752  
  8.60       11,630       -       9.9       -       5,515       -  
  9.00       10,000       10,000       8.8       9.8       4,750       -  
  19.35       0       72,508       7.8       8.8       -       29,003  
  5.95       17,503       -       9.7       -       -       -  
  5.06       19,760       -       9.8       -       -       -  
  15.30       38,533       41,866       8.0       9.0       29,533       21,867  
  (*)       62,542       62,542       6.8       7.8       62,542       62,542  
          371,360       398,308       8.3       7.3       270,827       245,010  

 

 

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

The grant date fair values of stock options granted in the years ended December 31, 2019 and 2018 were estimated using the Black-Scholes valuation model with the following:

 

    Year ended December 31, 2019   Year ended December 31, 2018
         
Expected volatility   132.63%-144.4%   99.40%
Risk-free interest   1.49%-2.62%   2.39%
Dividend yield   0%   0%
Expected life of up to (years)   5.282   5.24
Schedule of Warrants Outstanding

The remaining outstanding warrants and terms as of December 31, 2019 and December 31, 2018 are as follows:

 

Issuance date   Outstanding as of December 31, 2018     Outstanding as of December 31, 2019     Exercise Price     Exercisable as of December 31, 2019     Exercisable Through
                             
Series A (2013) (*)     183       183     $ 2,754.00       181     April 9, 2023
Series A (2015) (*)     683       683     $ 1,377.00       676     April 30, 2020
Series B (2016) (a)(*)     2,770       2,770     $ 40.50       2,741     March 14, 2022
Warrant to underwriters 1.2019     -       22,767     $ 8.125       22,767     July 14, 2022
Warrant to underwriters 1.2019     -       29,500     $ 12.50       29,500     July 15, 2022
Warrant to underwriters 1.2019     -       12,500     $ 12.50       12,500     January 15, 2020
Warrant to underwriters 12.2019     -       45,643     $ 13.125       -     June 27, 2023
Warrant to underwriters 12.2019     -       47,619     $ 13.125       -     June 30, 2023
Warrant to underwriters 12.2019     -       45,045     $ 13.875       -     June 25, 2023

 

 

(*) Prior to January 1, 2019, warrants with non-standard anti-dilution provisions (referred to as down round protection) were classified as liabilities and re-measured each reporting period. On January 1, 2019, the Company adopted the provisions of ASU 2017-11, which indicates that a down round feature no longer precludes equity classification when assessing whether an investment is indexed to an entity’s own stock. The Company used a full retrospective approach to adoption and restated its financial statements as of the earliest period presented. The cumulative effect of adoption of ASU 2017-11 resulted in an adjustment to accumulated deficit as of January 1, 2018 of $20 with a corresponding adjustment to additional paid-in capital.