SHARE CAPITAL (Tables)

6 Months Ended

Jun. 30, 2012

	Number		Weighted average exercise price (US$)
Six month period ended June 30, 2012 (unaudited)
Balance outstanding at beginning of period		454,354		5.44
Granted		17,500		6.25
Exercised		-		-
Forfeited		-		-
Balance outstanding at end of the period		471,854		5.47
Balance exercisable at the end of the period		113,342		2.99

	Number			Weighted average exercise price (US$)
Year ended December 31, 2011
Balance outstanding at beginning of year		428,367			5.37
Granted (*)		29,315			6.25
Exercised		-			-
Forfeited		(3,328	)		3.84
Balance outstanding at end of the year		454,354			5.44
Balance exercisable at the end of the year		110,142			2.9

(*)

Represents the additional number of options, as of the date indicated, that was required to be issued to Messrs. Gal and Malka following the completion of the Offering, the number of which was finalized in August 2011 upon the completion of the Offering. See Note 16 for a discussion regarding the total number of options to be issued to related parties in connection with the Offering.

	Number		Weighted average exercise price (US$)
Year ended December 31, 2010
Balance outstanding at beginning of year		109,197		2.81
Granted (*)		314,897		6.25
Granted		4,273		6.02
Exercised		-		-
Forfeited		-		-
Balance outstanding at end of the year		428,367		5.37
Balance exercisable at the end of the year		109,197		2.81

(*)

	Number		Weighted average exercise price (US$)
Year ended December 31, 2009
Balance outstanding at beginning of year		106,213		2.73
Granted		2,984		5.52
Exercised		-		-
Forfeited		-		-
Balance outstanding at end of the year		109,197		2.81
Balance exercisable at the end of the year		106,213		2.73

Schedule of Stock Grants, by Exercise Price Range

(Unaudited)
Exercise prices	Outstanding at June 30, 2012			Weighted average remaining contractual life years		Weighted average exercise price		Exercisable at June 30, 2012		Weighted average exercise price
US$
1.72		46,004			5.1		1.72		46,004		1.72
3.27		30,966			3.4		3.27		30,966		3.27
3.48		4,486			3.4		3.48		4,486		3.48
3.63		4,849			5.1		3.63		4,849		3.63
3.84		16,580			4.5		3.84		16,580		3.84
5.52		2,984			7.1		5.52		2,984		5.52
6.02		4,273			4.6		6.02		4,273		6.02
6.25		344,212	(*)		8.5		-		-		-
6.25		17,500			8.5		6.25		3,200		6.25
		471,854							113,342

(*)

Represents the additional number of options, as of the date indicated, to be issued to Messrs. Gal and Malka following the completion of the Offering, the number of which was finalized in August 2011 upon the completion of the Offering. See Note 16 for a discussion regarding the total number of options to be issued in connection with the Offering.

Exercise prices	Outstanding at December 31, 2011			Weighted average remaining contractual life years		Weighted average exercise price		Exercisable at December 31, 2011		Weighted average exercise price
US$
1.72		46,004			5.6		1.72		46,004		1.72
3.27		30,966			3.9		3.27		30,966		3.27
3.48		4,486			3.9		3.48		4,486		3.48
3.63		4,849			5.6		3.63		4,849		3.63
3.84		16,580			5.0		3.84		16,580		3.84
5.52		2,984			7.6		5.52		2,984		5.52
6.02		4,273			5.1		6.02		4,273		6.02
6.25		344,212	(*)		9.0		-		-		-
		454,354							110,142

(*)

Exercise prices	Outstanding at December 31, 2010			Weighted average remaining contractual life years		Weighted average exercise price		Exercisable at December 31, 2010		Weighted average exercise price
US$
1.72		46,004			6.6		1.72		46,004		1.72
3.27		30,966			4.9		3.27		30,966		3.27
3.48		4,486			4.9		3.48		4,486		3.48
3.63		4,849			6.6		3.63		4,849		3.63
3.84		19,908			6.0		3.84		19,908		3.84
5.52		2,984			8.6		5.52		1,493		5.52
6.02		4,273			6.12		6.02		1,491		6.02
6.25		314,897	(*)		10.0		-		-		-
		428,367							109,197

(*)

Schedule of Assumptions Used to Value Options

	1-6/2012	2011	2010	2009
Dividend yield (%)	0	0	0	0
Expected volatility (%) (*)	50	50	50	50
Risk free interest rate (%)	2	2	2	2
Expected term of options (years) (**)	3-6	5-6	5-6	5-6
Exercise price (US dollars)	6.25	6.25	6.02/6.25	5.52
Share price (US dollars) (***)	6.25	6.25	6.02/6.25	5.52
Fair value (US dollars)	3.08	3.08	2.81/3.08	1.42

(*)

Due to the fact that the Company was a nonpublic entity until November 2011, the expected volatility was based on the historic volatility of public companies which operate in the same industry sector.

(**)

Due to the fact that the Company does not have sufficient historical exercise data, the expected term was determined based on the "simplified method" in accordance with Staff Accounting Bulletin No. 110.

(***)

The fair value of the share was based on the most recent share prices, as applicable to each grant.

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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