XML 47 R34.htm IDEA: XBRL DOCUMENT v3.19.1

Common Stock, Preferred Stock and Warrants With-Down Round Protection (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Stock Grants Activity

The following tables present a summary of the status of the grants to employees, officers and directors as of December 31, 2018 and 2017:

		Number				Weighted average exercise price (US$)
Balance outstanding as of December 31,2016			562,803			$	5.64
Balance exercisable as of December 31,2016			334,735			$	5.81
Granted during 2017			4,740,318			$	5.22
Forfeited during 2017			(66,154	)		$	3.93
Balance outstanding as of December 31,2017			5,236,967			$	5.28
Balance exercisable of December 31,2017			2,428,716			$	5.28
Granted during 2018			798,056			$	4.50
Forfeited during 2018 (*)			(2,042,413	)		$	6.12
Balance outstanding as of December 31,2018			3,992,610			$	4.70
Balance exercisable of December 31,2018			2,721,587			$	4.63

(*) during December 2018 Mr. John Graham resigned from his position as the company CEO, as a result 1,859,024 warrants were forfeited and the company revers the expenses that have been booked in 2018 and in prior periods regarding the forfeited warrants amounted approximately $1.17 million (the company recorded the reduction under general and administrative expenses)

Schedule of Stock Grants, by Exercise Price Range

The following tables summarize information about options outstanding at December 31, 2018:

Exercise price (US$)			Outstanding at December 31, 2018				Weighted average remaining contractual life (years)				Exercise price (US$)				Exercisable at December 31, 2018				Weighted average remaining contractual life (years)
6.25				350,212				3.19				6.25				350,212				3.19
7.00				2,000				5.50				7.00				2,000				5.50
4.50				53,332				7.21				4.50				53,332				7.21
4.50				26,666				7.88				4.50				26,666				7.88
4.50				1,231,016				8.21				4.50				1,231,016				8.21
4.50				661,875				8.26				4.50				382,618				8.26
7.75				50,000				8.26				7.75				28,904				8.26
4.50				59,576				8.41				4.50				47,171				8.41
4.50				290,585				8.48				4.50				146,752				8.48
4.50				585,848				8.71				4.50				250,390				8.71
4.50				665,000				9.12				4.50				193,731				9.12
4.50				16,500				9.24				4.50				8,795				9.24
				3,992,610												2,721,587

Schedule of Assumptions Used to Value Options

The fair value of options granted to employees during the years ended on December 31, 2018 and 2017 was estimated at the dates of grant using the Black-Scholes option model. The following are the data and assumptionsused:

		2018				2017
Dividend yield (%)			0				0
Expected volatility (%) (*)			56.59				56.59
Risk free interest rate (%)			1.31				0.92
Expected term of options (years)			5.5 - 6.5				5-10.5
Exercise price (US dollars)			4.5				4.50 - 7.75
Stock price (US dollars) (**)			2.45				2.38
Fair value (US dollars)			0.88-0.99				0.58-1.28

(*) Due to the low trading volume of the Company’s Common Stock, the expected volatility for 2018 and 2017 grant was based on a sample of 248 and 254 companies operating in the Healthcare Products industry, respectively.

(**) The Common Stock price, per share for the year ended December 31, 2018 and 2017 reflects the Company’s management’s estimation of the fair value per share of Common Stock. In reaching its estimation for December 31, 2018, management considered, among other things, a valuation prepared by a third-party valuation firm following the issuance of the Series D Units. In reaching its estimation for December 31, 2017, management considered, among other things, a valuation prepared by a third-party valuation firm following the issuance of the Series C Units.

Warrant [Member]

Schedule of Changes in Fair Value of Level 3 Liability

The changes in the fair value of the Level 3 liability are as follows (in US dollars):

		Warrants with Down-Round Protection
		December 31,
		2018				2017
Balance, Beginning of the year			768,249				681,970
Warrants issued as consideration for placement services			-				353,721
Stock based compensation to financial advisor			-				32,880
Change in fair value of Warrants with Down-Round Protection			-				(300,322	)
Reclassification to stockholder’s deficit (*)			(768,249	)			-
Balance, End of year			-				768,249

(*) As a result of the early adoption of ASU 2017-11 the company reclassified all the warrants with down round protection to stockholder’s deficit (see Note 2U and 2W)

Schedule of Fair Value Assumptions

The key inputs used in the fair value calculations were as follows:

		December 31, 2017
Dividend yield (%)			-
Expected volatility (%) (*)			56.59
Risk free interest rate (%)			1.31
Expected term of options (years)			0.2 - 4.92
Exercise price (US dollars)			4.50 - 7.75
Share price (US dollars) (**)			2.45
Fair value (US dollars)			0.002 – 0.81

	(*)	Due to the low trading volume of the Company’s Common Stock, the expected volatility was based on a sample of 254 companies operating in the Healthcare Products industry.
	(**)	The Common Stock price, per share reflects the Company’s management’s estimation of the fair value per share of Common Stock as of December 31, 2017. In reaching its estimation for such periods, management considered, among other things, a valuation prepared by a third-party valuation firm following the issuance of the Series D Units at December 31, 2017.

Series D Warrant [Member]

Schedule of Fair Value Assumptions

		December 31, 2018		December 31, 2017
Dividend yield (%)		-			-
Expected volatility (%)		56.32			56.59
Risk free interest rate (%)		2.50			1.31
Expected term of options (years)		5			0.2 - 4.92
Exercise price (US dollars)		0.258			4.50, 5.75, 7.75
Share price (US dollars)		0.258			2.45
Fair value (US dollars)		0.13			0.12 – 0.81

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_FairValueByLiabilityClassAxis=us-gaap_WarrantMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FairValueByLiabilityClassAxis=IGAP_SeriesDWarrantMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: