NOTE 15

LOSS PER SHARE

The loss and the weighted average number of shares used in computing basic and diluted loss per share for the years ended December 31, 2013, 2012 and 2011, are as follows:

	US dollars
	Year ended December 31,
	2013		2012		2011

Loss for the year		9,796,853		2,772,307		2,364,339
Stock dividend to certain Common Stockholder		278,263		-		-
Dividend on Preferred Stock		288,247		-		-
		10,363,363		2,772,307		2,364,339

	Number of shares
	Year ended December 31,
	2013		2012		2011

Weighted average number of shares used in the computation of basic and diluted earnings per share		5,325,714		5,314,800		5,091,330
Total weighted average number of ordinary shares related to outstanding Preferred Stock, options and warrants excluded from the calculations of diluted loss per share (*)		2,813,493		600,232		582,732

(*)

All outstanding stock options, warrants and Preferred Stock have been excluded from the calculation of the diluted net loss per share for all the reported periods, since the effect of the shares issuable with respect of these instruments was anti-dilutive.