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LOSS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Loss and Weighted Average Number of Shares

	US dollars
	Three month period ended March 31,
	2017		2016
	(unaudited)
Loss for the period		2,530,325		1,226,764
Cash dividend on Series A Preferred Stock		4,700		4,700
Stock dividend on Series B Preferred Stock		246,031		122,820
Stock dividend on Series C Preferred Stock		115,986		-
Loss for the period attributable to common stockholders		2,897,042		1,354,284

	Number of shares
	Three month period ended March 31,
	2017		2016
	(unaudited)
Number of shares:
Weighted average number of shares used in the computation of basic and diluted earnings per share		6,029,342		5,690,097

Total weighted average number of common shares related to outstanding convertible preferred stock, options and warrants excluded from the calculations of diluted loss per share (*)		16,056,013		9,462,671

(*)

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 determined to be anti-dilutive.