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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Schedule of Fair Value Assumptions Used
   
March 31, 2015
  
Dividend yield (%)
     -  
Expected volatility (%) (*)
     105.14  
Risk free interest rate (%)
     0.89  
Expected term of options (years) (**)
     2.95  
Exercise price (US dollars)
     5.80  
Share price (US dollars) (***)
     2.31  
Fair value (US dollars)
     1.06  

 
(*)

Due to the 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.
 
 
(***)
The Common Stock price, per share reflects the Company's management's estimation of the fair value per share of Common Stock as of March 31, 2015. In reaching its estimation, management considered, among other things, a valuation prepared by a third-party valuation firm following the issuance of the Series B Units.