XML 63 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) [Abstract]      
Revenues $ 59,775us-gaap_Revenues      
Research and development expenses (Note 12) 1,849,624us-gaap_ResearchAndDevelopmentExpense 1,986,754us-gaap_ResearchAndDevelopmentExpense 1,920,690us-gaap_ResearchAndDevelopmentExpense
Selling, marketing and general and administrative expenses (Note 13) 1,817,510us-gaap_SellingGeneralAndAdministrativeExpense 1,041,140us-gaap_SellingGeneralAndAdministrativeExpense 852,908us-gaap_SellingGeneralAndAdministrativeExpense
Total operating expenses 3,667,134us-gaap_CostsAndExpenses 3,027,894us-gaap_CostsAndExpenses 2,773,598us-gaap_CostsAndExpenses
Operating loss 3,607,359us-gaap_OperatingIncomeLoss 3,027,894us-gaap_OperatingIncomeLoss 2,773,598us-gaap_OperatingIncomeLoss
Financing (income) expenses, net (Note 14) (6,587,785)igap_FinancingIncomeExpensesNet 6,768,959igap_FinancingIncomeExpensesNet (1,291)igap_FinancingIncomeExpensesNet
Income (loss) for the period 2,980,426us-gaap_NetIncomeLoss (9,796,853)us-gaap_NetIncomeLoss (2,772,307)us-gaap_NetIncomeLoss
Other comprehensive income (loss):      
Foreign currency translation adjustment (13,968)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax (43,777)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax 13,709us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
Comprehensive income (loss) for the period $ 2,966,458us-gaap_ComprehensiveIncomeNetOfTax $ (9,840,630)us-gaap_ComprehensiveIncomeNetOfTax $ (2,758,598)us-gaap_ComprehensiveIncomeNetOfTax
Income (loss) per share (Basic) (Note 16) $ 0.37us-gaap_EarningsPerShareBasic $ (1.95)us-gaap_EarningsPerShareBasic $ (0.52)us-gaap_EarningsPerShareBasic
Income (loss) per share (Diluted) (Note 16) $ 0.37us-gaap_EarningsPerShareDiluted $ (1.95)us-gaap_EarningsPerShareDiluted $ (0.52)us-gaap_EarningsPerShareDiluted
Common shares used in computing Basic income (loss) per share (Note 16) 5,304,500us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 5,325,714us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 5,314,800us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Common shares used in computing Diluted income (loss) per share (Note 16) 5,349,242us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding [1] 5,325,714us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding [1] 5,314,800us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding [1]
[1] In applying the treasury method, the average market price of Common Stock was based on management estimate. For December 31, 2014, management estimation considered, among other things, a valuation prepared by a third-party valuation firm following the issuance of the Series B Units (See Note 1B, Note 11A.3 and Note 11C). The fair value per share of the Company's Common Stock as of December 31, 2013 was based on the management's estimate which was based among other factors on the closing price per share of the Company's Common Stock on December 27, 2013, as reported on the OTCQB, which was the last reported sale of Common Stock in 2013. The fair value of the share for the year ended December 31, 2012 was based on the most recent share prices.