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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2018
Shareholders' Equity [Abstract] |
Summary of the status of the 2011 share incentive plan |
|  | Years ended December 31, |
|  | 2 0 1 8 |  |  | 2 0 1 7 |  |  | 2 0 1 6 |
|  | Number |  |  | Weighted average exercise price |  |  | Number |  |  | Weighted average exercise price |  |  | Number |  |  | Weighted average exercise price |
Options outstanding at beginning of year |  |  | 813,100 |  |  | $ | 1.490 |  |  |  | 875,500 |  |  | $ | 1.600 |  |  |  | 710,300 |  |  | $ | 2.510 |
Changes during year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Granted (a) |  |  | 118,000 |  |  | $ | 0.003 |  |  |  | 90,000 |  |  | $ | 0.650 |  |  |  | 344,000 |  |  | $ | 0.003 |
Exercised |  |  | (131,800 | ) |  | $ | 0.003 |  |  |  | (46,000 | ) |  | $ | 1.150 |  |  |  | (59,000 | ) |  | $ | 1.450 |
Forfeited |  |  | (74,100 | ) |  | $ | 0.500 |  |  |  | (78,400 | ) |  | $ | 1.410 |  |  |  | (117,800 | ) |  | $ | 2.490 |
Expired |  |  | (51,000 | ) |  | $ | 2.950 |  |  |  | (28,000 | ) |  | $ | 2.950 |  |  |  | (2,000 | ) |  | $ | 2.160 |
Options outstanding at end of year |  |  | 674,200 |  |  | $ | 1.46 |  |  |  | 813,100 |  |  | $ | 1.490 |  |  |  | 875,500 |  |  | $ | 1.600 |
Options exercisable at end of year |  |  | 350,000 |  |  | $ | 2.630 |  |  |  | 303,000 |  |  | $ | 2.900 |  |  |  | 246,500 |  |  | $ | 2.870 |
Vested and expected to vest at end of year |  |  | 637,361 |  |  | $ | 1.540 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average grant date fair value of options granted during the year (b) |  |  |  |  |  | $ | 1.46 |  |  |  |  |  |  | $ | 1.30 |  |  |  |  |  |  | $ | 1.46 |
| (a) | In the year ended December 31, 2018, the options were granted with an exercise price equal to NIS 0.01.
In the year ended December 31, 2017, the options were granted with an exercise price equal to the average closing price per share of the Company’s ordinary shares on the stock market during the 30-day trading period immediately preceding the date of grant of such option, or with an exercise price equal to par value of NIS 0.01. In the year ended December 31, 2016, the options were granted with an exercise price equal to par value of NIS 0.01.
| (b) | The fair value of each stock option granted is computed on the date of grant according to the Black-Scholes option-pricing model with the following assumptions:
Summary of fair value of each stock option granted is computed on the date of grant according to the Black-Scholes option-pricing model |
|  | Years ended December 31, |
|  | 2 0 1 8 |  |  | 2 0 1 7 |  |  | 2 0 1 6 |
Dividend yield |  |  | 11 | % |  |  | 11 | % |  |  | 11 | %
Expected volatility* |  |  | 28 | % |  |  | 35 | % |  |  | 35 | %
Average risk-free interest rate |  |  | 2.6 | % |  |  | 1.9 | % |  |  | 2.0 | %
Expected average term - in years |  |  | 3.88 |  |  |  | 3.88 |  |  |  | 3.88 |
| * | Volatility is based on historical volatility of the Company’s share price for periods matching the expected term of the option until exercise.
Summary of information about options outstanding and exercisable |
|  |  | Options Outstanding |  |  | Options Exercisable |
Range of exercise prices |  |  | Number outstanding at December 31, 2 0 1 8 |  |  | Weighted average remaining contractual life |  |  | Weighted average exercise price |  |  | Number exercisable at December 31, 2 0 1 8 |  |  | Weighted average remaining contractual life |  |  | Weighted average exercise price |
|  |  |  |  |  | Years |  |  |  |  |  |  |  |  | Years |  |  |  |
| $ 0.003 |  |  |  | 334,200 |  |  |  | 3.46 |  |  | $ | 0.003 |  |  |  | 37,000 |  |  |  | 2.84 |  |  | $ | 0.003 |
| $ 2.425 – 2.947 |  |  |  | 340,000 |  |  |  | 0.92 |  |  | $ | 2.90 |  |  |  | 313,000 |  |  |  | 0.86 |  |  | $ | 2.94 |

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