XML 19 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended 144 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Cash flows from operating activities:      
Loss for the period $ (2,620,060) $ (2,072,967) $ (17,909,886)
Adjustments to reconcile loss for the period to net cash used in operating activities:      
Depreciation 23,461 (53,134) 181,494
Increase (decrease) in liability for employee rights upon retirement (3,141) 18,770 203,324
Stock-based compensation 18,792 (17,552) 1,599,217
Stock-based interest compensation to convertible notes holders    299,262 1,214,943
Issuance costs allocated to warrants with "down-round" protection 390,928    390,928
Changes in the fair value of warrants with round down protection (141,357) (35,892) (177,249)
Linkage difference on principal of loans from stockholders 14,903 12,706 201,801
Interest on convertible notes       78,192
Gain on sale of property and equipment       (912)
Gain from trading marketable securities       (12,920)
Changes in assets and liabilities:      
Decrease (increase) in other current assets 16,111 12,962 (53,307)
Increase in accounts payable 70,476 53,005 192,468
Increase (decrease) in other current liabilities (52,568) 38,375 235,392
Net cash used in operating activities (2,282,455) (1,744,465) (13,856,515)
Cash flows from investment activities:      
Increase in funds in respect of employee rights upon retirement (39,923) (6,367) (149,115)
Purchase of property and equipment (51,777) (6,969) (271,897)
Proceeds from sale of property and equipment       4,791
Investment in marketable securities       (388,732)
Proceeds from sale of marketable securities       406,995
Short-term loan granted to related party, net of repayments       (14,252)
Net cash used in investment activities (91,700) (13,336) (412,210)
Cash flows from financing activities      
Credit from banking institutions (repayment) (38,458) 50,980 (8,328)
Proceeds from issuance of convertible notes       1,144,000
Repayment of convertible notes       (527,396)
Proceeds from issuance of Common Stock, net of issuance expenses       11,323,559
Dividend to Preferred stockholders (102,819)    (102,819)
Proceeds allocated to convertible Preferred Stock, net of issuance expenses 3,960,958    3,960,958
Proceeds allocated to warrants with "down-round" protection, net of issuance expenses 1,421,983    1,421,983
Proceeds from stockholders loans       347,742
Net cash provided by financing activities 5,241,664 50,980 17,559,699
Effect of exchange rate changes on cash and cash equivalents 105,695 (7,293) 225,641
Increase (decrease) in cash and cash equivalents 2,973,204 (1,714,114) 3,516,615
Cash and cash equivalents at beginning of the period 543,411 1,896,504   
Cash and cash equivalents at end of the period $ 3,516,615 $ 182,390 $ 3,516,615