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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of fair value measurement using significant unobservable inputs

Fair value measurement using significant unobservable inputs (Level 3):

		Fair value of warrants to Common stock
Balance at January 1, 2017		$	2,079
Change in fair value of warrants			(131	)
Balance at June 30, 2017		$	1,948

Warrant [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of warrants at fair value

The Company measures the warrants at fair value by applying the Black-Scholes option pricing model in each reporting period until they are exercised or expired, with changes in fair value being recognized in the Company’s consolidated statement of comprehensive loss as financial income or expense.

In estimating the warrants’ fair value, the Company used the following assumptions:

		June 30,
		2017		2016
Dividend yield (1)		0%		0%
Expected volatility (2)		50.16%-58.28%		63.2%-67.1%
Risk-free interest (3)		1.17%-1.47%		0.77%-0.88%
Expected term (years) (4)		0.6-2.4		1.7-3.6

	(1)	Dividend yield - was based on the fact that the Company has not paid dividends to its stockholders in the past and does not expect to pay dividends to its stockholders in the future.
	(2)	Expected volatility - was calculated based on actual historical stock price movements of companies in the same industry over a term that is equivalent to the expected term of the warrants.
	(3)	Risk-free interest – was based on yield rate of non-index linked U.S. Federal Reserve treasury stock.
	(4)	Expected term - was based on the maturity date of the warrants.

Amended Warrant [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of warrants at fair value

The Company measured the Warrants at fair value on their issuance date by applying the Black-Scholes options pricing model, according to the following assumptions:

		June 30,
		2017
Dividend yield (1)		0%
Expected volatility (2)		65.16%-65.80%
Risk-free interest (3)		2.23%-2.27%
Expected term (years) (4)		7

	(1)	Dividend yield - was based on the fact that the Company has not paid dividends to its stockholders in the past and does not expect to pay dividends to its stockholders in the future.
	(2)	Expected volatility - was calculated based on actual historical stock price movements of companies in the same industry over a term that is equivalent to the expected term of the warrants.
	(3)	Risk-free interest – was based on yield rate of non-index linked U.S. Federal Reserve treasury stock.
	(4)	Expected term - was based on the maturity date of the warrants.

The Company measured the Warrants at fair value on their issuance date by applying the Black-Scholes options pricing model, according to the following assumptions:

		June 30,
		2017
Dividend yield (1)		0%
Expected volatility (2)		65.54%-65.85%
Risk-free interest (3)		2%-2.14%
Expected term (years) (4)		7

	(1)	Dividend yield - was based on the fact that the Company has not paid dividends to its stockholders in the past and does not expect to pay dividends to its stockholders in the future.
	(2)	Expected volatility - was calculated based on actual historical stock price movements of companies in the same industry over a term that is equivalent to the expected term of the warrants.
	(3)	Risk-free interest – was based on yield rate of non-index linked U.S. Federal Reserve treasury stock.
	(4)	Expected term - was based on the maturity date of the warrants.

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- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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