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Loss Per Share

9 Months Ended

Sep. 30, 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 nine and three month periods ended September 30, 2018 and 2017 are as follows:

	US dollars						US dollars
	Nine-month period ended September 30,						Three-month period ended September 30,
	2018			2017			2018			2017
	(unaudited)						(unaudited)
Loss for the period		(5,383,155	)		(7,672,266	)		(1,572,878	)		(2,584,740	)
Cash dividend on Series A Preferred Stock		(13,141	)		(19,243	)		(4,171	)		(12,529	)
Stock dividend on Series B Preferred Stock		(1,118,550	)		(609,582	)		(533,229	)		(117,914	)
Stock dividend on Series C Preferred Stock		(893,269	)		(370,325	)		(425,836	)		(93,751	)
Loss for the period attributable to common stockholders		(7,408,115	)		(8,671,416	)		(2,536,114	)		(2,808,934	)

	US dollars				US dollars
	Nine-month period ended September 30,				Three-month period ended September 30,
	2018		2017		2018		2017

Number of shares:
Common shares used in computing basic income (loss) per share		7,745,275		6,207,844		8,249,442		6,386,772
Common shares used in computing diluted income (loss) per share		7,745,275		6,207,844		8,249,442		6,386,772
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 (*)		26,938,336		20,304,950		28,470,324		23,378,950

(*)

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.