LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Loss and Weighted Average Number of Shares

The loss and the weighted average number of shares used in computing basic and diluted loss per share for the nine and three month periods ended September 30, 2016 and 2015 are as follows:

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
	2016			2015			2016			2015
	(unaudited)						(unaudited)
Loss for the period		(4,270,506	)		(4,297, 307	)		(1,454,744	)		(1,095,970	)
Cash dividend on Series A Preferred Stock		(13,529	)		(52,361	)		(4,076	)		(5,325	)
Stock dividend on Series B Preferred Stock		(449,051	)		(270,307	)		(194,950	)		(84,512	)
Stock dividend on Series C Preferred Stock		(80,082	)		-			(59,727	)		-
Loss for the period attributable to common stockholders		(4,813,168	)		(4,619,975	)		(1,713,497	)		(1,185,807	)

	Number of shares				Number of shares
	Nine month period ended September 30,				Three month period ended September 30,
	2016		2015		2016		2015

Number of shares:
Common shares used in computing basic income (loss) per share		5,746,838		5,426,688		5,806,724		5,513,265
Common shares used in computing diluted income (loss) per share		5,746,838		5,426,688		5,806,724		5,513,265
Total weighted average number of common shares related to outstanding convertible Preferred Stock, options and warrants excluded from the calculations of diluted income (loss) per share (*)		12,125,368		9,425,407		13,915,740		9,539,832

(*)

All outstanding convertible Preferred Stock, stock options and warrants have been excluded from the calculation of the diluted net loss per share for all the reported periods, because the effect of the common shares issuable as a result of the exercise or conversion of these instruments was anti-dilutive.