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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Schedule of Fair Value Assumptions Used |
|  | June 30, 2015 |
Dividend yield (%) |  |  | - |
Expected volatility (%) (*) |  |  | 105.14 |
Risk free interest rate (%) |  |  | 1.01 |
Expected term of options (years) (**) |  |  | 2.70 |
Exercise price (US dollars) |  |  | 5.80 |
Share price (US dollars) (***) |  |  | 2.31 |
Fair value (US dollars) |  |  | 1.00 |
| (*) |
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 June 30, 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.

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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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