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Share-Based Compensation | 12 Months Ended
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Dec. 31, 2025
Share-Based Compensation [Abstract] |
SHARE-BASED COMPENSATION | NOTE 11 – SHARE-BASED COMPENSATION
| A. | General
The Company grants options and RSUs under the 2006 Plan and the 2015 Equity Incentive Plan (including the 2015 U.S. Sub-Plan). No new options or RSUs were granted during 2025 or 2024. As of December 31, 2025, the same number of options and RSUs remain outstanding as at December 31, 2024, with no forfeitures or exercises occurring in 2025.
| B. | Details of share-based grants
The last options were granted on March 30, 2023 (903 options at $2.82 exercise price). The last RSUs were granted in 2022. No share-based grants were made in 2024 or 2025.
| C. | Options Fair Value – Black-Scholes parameters
The parameters used in applying the Black-Scholes model are as follows:
|  | For the year ended December 31, 2025 |  | For the year ended December 31, 2024 |  |  | For the year ended December 31, 2023 |
Expected volatility |  | No grants |  |  | - |  |  |  | 117 | %
Risk-free rate |  | No grants |  |  | - |  |  |  | 3.6 | %
Dividend yield |  | No grants |  |  | - |  |  |  | 0 | %
Expected term (years) |  | No grants |  |  | - |  |  |  | 6.08 |
Share price |  | No grants |  |  | - |  |  | $ | 1.43 |
| D. | Effect of share-based compensation on statements of operations
|  | 2025 |  |  | 2024 |  |  | 2023 |
Research and development, net |  |  | – |  |  |  | – |  |  | $ | (144 | )
General and administrative, net |  | $ | (12 | ) |  | $ | 12 |  |  | $ | 87 |
Total |  | $ | (12 | ) |  | $ | 12 |  |  | $ | (57 | )
| E. | Option activity
Year ended December 31, 2025:
|  | Number |  |  | Wtd. Avg. Exercise Price ($) |  |  | Wtd. Avg. Remaining Life (yrs) |  |  | Aggregate Intrinsic Value ($000s) |
Options outstanding – beginning of year |  |  | 102,288 |  |  | $ | 47.13 |  |  |  | 7.34 |  |  |  | – |
Options granted |  |  | – |  |  |  | – |  |  |  |  |  |  |  |  |
Options forfeited |  |  | – |  |  |  | – |  |  |  |  |  |  |  |  |
Options exercised |  |  | – |  |  |  | – |  |  |  |  |  |  |  |  |
Options outstanding – end of year |  |  | 102,288 |  |  | $ | 47.13 |  |  |  | 6.34 |  |  |  | – |
Options exercisable – end of year |  |  | 55,286 |  |  | $ | 66.01 |  |  |  | 5.87 |  |  |  | – |
Year ended December 31, 2024:
|  | Number |  |  | Wtd. Avg. Exercise Price ($) |  |  | Wtd. Avg. Remaining Life (yrs) |  |  | Aggregate Intrinsic Value ($000s) |
Options outstanding – beginning of year |  |  | 102,288 |  |  | $ | 35.35 |  |  |  | 8.59 |  |  |  | – |
Options granted |  |  | – |  |  |  | – |  |  |  |  |  |  |  |  |
Options forfeited |  |  | – |  |  |  | – |  |  |  |  |  |  |  |  |
Options exercised |  |  | – |  |  |  | – |  |  |  |  |  |  |  |  |
Options outstanding – end of year |  |  | 102,288 |  |  | $ | 47.13 |  |  |  | 7.34 |  |  |  | – |
Options exercisable – end of year |  |  | 55,286 |  |  | $ | 66.01 |  |  |  | 6.87 |  |  |  | – |
| (1) | Weighted average grant date fair values: 2023: $1.17; 2022: $4.50; 2021: $15.70. No options granted in 2025 or 2024.
| (2) | As of December 31, 2025, all outstanding options (102,288 at $47.13 average exercise price) are out of the money.
| F. | RSU activity
|  | 2025 |  |  | 2024 |  |  | 2023 |
Unvested – beginning of year |  |  | 2,967 |  |  |  | 2,967 |  |  |  | 19,703 |
Granted |  |  | – |  |  |  | – |  |  |  | – |
Vested |  |  | – |  |  |  | – |  |  |  | (6,092 | )
Forfeited |  |  | – |  |  |  | – |  |  |  | (10,644 | )
Unvested – end of year |  |  | 2,967 |  |  |  | 2,967 |  |  |  | 2,967 |
| (3) | No RSUs were granted in 2025 or 2024. Weighted average grant date fair value of RSUs awarded during 2022 was $9.20.
| (4) | As of December 31, 2025, unrecognized compensation cost related to non-vested arrangements is approximately $– (all prior grants are fully vested or their remaining cost is immaterial).

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