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Loss Per Share

3 Months Ended

Mar. 31, 2018

NOTE 7 – LOSS PER SHARE

In periods of net loss, basic loss per share is computed by dividing net loss for the period after consideration of the effect of dividends on preferred stock by the weighted average number of shares outstanding during the period.

The loss and the weighted average number of shares used in computing basic and diluted loss per share for the three-month periods ended March 31, 2018 and 2017 are as follows:

	US dollars
	Three-month period ended March 31,
	2018		2017
	(unaudited)
Loss for the period		1,847,794		2,530,325
Cash dividend on Series A Preferred Stock		4,700		4,700
Stock dividend on Series B Preferred Stock		280,159		246,031
Stock dividend on Series C Preferred Stock		223,733		115,986
Loss for the period attributable to common stockholders		2,356,386		2,897,042

	Number of shares
	Three-month period ended March 31,
	2018		2017
	(unaudited)
Number of shares:
Weighted average number of shares used in the computation of basic and diluted earnings per share		7,021,533		6,029,342

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 (*)		25,524,332		16,056,013

(*)

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.