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INCOME TAX (Tables) | 6 Months Ended
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Jun. 30, 2012
INCOME TAX [Abstract] |
Reconciliation of Statutory Tax Rate to the Effective Income Tax Rate |
|  | US dollars |
|  | Six month period ended June 30, |  |  | Three month period ended June 30, |  |  | Year ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (unaudited) |  |  | (unaudited) |  |  |  |
Pretax loss |  |  | (1,372,411 | ) |  |  | (1,056,921 | ) |  |  | (737,458 | ) |  |  | (516,657 | ) |  |  | (2,364,339 | ) |  |  | (2,788,446 | ) |  |  | (1,202,296 | )
Federal tax rate |  |  | 35 | % |  |  | 35 | % |  |  | 35 | % |  |  | 35 | % |  |  | 35 | % |  |  | 35 | % |  |  | 35 | %
Income tax benefit computed at the ordinary tax rate |  |  | (480,344 | ) |  |  | (369,922 | ) |  |  | (258,110 | ) |  |  | (180,830 | ) |  |  | (827,519 | ) |  |  | (975,956 | ) |  |  | (420,804 | )
Non-deductible expenses |  |  | 2,306 |  |  |  | 2,483 |  |  |  | 1,153 |  |  |  | 1,241 |  |  |  | 4,885 |  |  |  | 4,688 |  |  |  | 4,463 |
Stock-based compensation |  |  | 69,033 |  |  |  | 66,274 |  |  |  | 35,952 |  |  |  | 33,081 |  |  |  | 132,325 |  |  |  | 5,101 |  |  |  | 4,260 |
Stock-based interest compensation to holders of convertible notes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 425,229 |  |  |  | - |
Tax in respect of differences in corporate tax rates |  |  | 137,241 |  |  |  | 105,692 |  |  |  | 73,746 |  |  |  | 51,666 |  |  |  | 236,434 |  |  |  | 278,844 |  |  |  | 252,483 |
Losses and timing differences in respect of which no deferred taxes were generated |  |  | 271,764 |  |  |  | 195,473 |  |  |  | 147,259 |  |  |  | 94,842 |  |  |  | 453,875 |  |  |  | 262,094 |  |  |  | 159,598 |
|  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Schedule of Deferred Taxes |
|  | US dollars |
|  | June 30, |  |  | December 31, |
|  | 2012 |  |  | 2011 |  |  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (unaudited) |  |  |  |
Composition of deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for employee-related obligation |  |  | 44,862 |  |  |  | 39,183 |  |  |  | 42,137 |  |  |  | 36,568 |  |  |  | 37,561 |
Non-capital loss carry forwards |  |  | 3,184,220 |  |  |  | 2,551,746 |  |  |  | 2,890,426 |  |  |  | 2,393,919 |  |  |  | 1,768,416 |
Valuation allowance |  |  | (3,229,082 | ) |  |  | (2,590,929 | ) |  |  | (2,932,563 | ) |  |  | (2,430,487 | ) |  |  | (1,805,977 | )
|  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 740 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 2 -Section 50 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 740 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 12 -Section 50 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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