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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Schedule of Fair Value Assumptions Used
The key inputs used in the fair value calculations were as follows:

   
June 30, 2014
  
Dividend yield (%)
     -  
Expected volatility (%) (*)
     105.14  
Risk free interest rate (%)
     1.14  
Expected term of options (years) (**)
     3.70  
Common share price (US dollars) (***)
     2.31  
Fair value per Warrant with down-round protection (US dollars)
     1.249  

 
(*)
Due to the very low trading volume of the Company's Common Stock, the expected volatility was based on the historical volatility of the share price of other public companies that operate in the same industry sector as the Company.
 
 
(**)
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.
 
 
(***)
Share Price reflects the fair value per share of the Company's Common Stock as of June 30, 2014 and was based on management's estimate, which considered, among other things, current expectation of management regarding the price of future issuances of equity-linked financial instruments.