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Stock Options (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table presents the Company’s stock option activity for employees and directors of the Company for the year ended December 31, 2020 and 2019:
|  | Number of Options |  |  | Weighted Average Exercise Price |
Outstanding at January 1, 2019 |  |  | 59,525 |  |  |  | 3.15 |
Granted (*) |  |  | 109,526 |  |  |  | 3.15 |
Exercised |  |  | - |  |  |  | - |
Forfeited |  |  | (4,762 | ) |  |  | 3.15 |
Outstanding at January 1, 2020 |  |  | 164,289 |  |  |  | 3.15 |
Granted |  |  | 92,574 |  |  |  | 3.64 |
Exercised |  |  | (6,350 | ) |  |  | 3.15 |
Forfeited |  |  | (29,365 | ) |  |  | 3.15 |
Expired |  |  | (14,286 | ) |  |  | 3.15 |
Outstanding at December 31, 2020 |  |  | 206,862 |  |  |  | 3.15 |
Number of options exercisable at December 31, 2020 |  |  | 97,351 |  |  |  | 3.27 |
(*) Options that were granted on January 3, 2019 with vesting that commences before December 31, 2018.
Schedule of Estimated Fair Value of Options Granted | The fair value of options granted was estimated at the dates of grant using the Black-Scholes option pricing model. The following are the data and assumptions used:
|  | 2020 |  |  | 2019 |
Dividend yield |  |  | 0 |  |  |  | 0 |
Expected volatility (%) (*) |  |  | 52 | % |  |  | 54 | %
Risk-free interest rate (%) (**) |  |  | 0.23 | % |  |  | 1.56-2.39 | %
Expected term of options (years) (***) |  |  | 5 |  |  |  | 5 |
Exercise price (US dollars) |  |  | 3.15-3.78 |  |  |  | 3.15 |
Share price (US dollars) |  |  | 7.63 |  |  |  | 6.3 |
Fair value (US dollars) |  |  | 4.83-5.17 |  |  |  | 4.19 |
| (*) | Due to the low trading volume of the Company’s Common Stock, the expected volatility was based on the historical volatility of the share price of other public companies that operate in the same industry sector as the Company (agricultural chemical industry).
| (**) | The risk-free interest rate represented the risk-free rate of US$ zero – coupon US Government Loans.
| (***) | Due to the fact that the Company does not have sufficient historical exercise data, the expected term was determined based on the “simplified method” in accordance with SEC Staff Accounting Bulletin No. 110.

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- 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=120381028&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=120381028&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=120381028&loc=d3e5070-113901 + Details
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- 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=120381028&loc=d3e5070-113901 + Details
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