| December 31, | June 30, | |||||||
2012 | 2013 | |||||||
| A s s e t s | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 2,873 | $ | 1,556 | ||||
| Restricted cash | 354 | 465 | ||||||
| Trade receivables | 3,869 | 3,338 | ||||||
| Inventory | 3,708 | 3,625 | ||||||
| Other receivable | 1,664 | 1,585 | ||||||
| T o t a l current assets | 12,468 | 10,569 | ||||||
| LONG-TERM TRADE RECEIVABLES | 577 | 664 | ||||||
| SEVERANCE PAY FUND | 1,603 | 1,613 | ||||||
PROPERTY AND EQUIPMENT, net | 851 | 674 | ||||||
| T o t a l assets | $ | 15,499 | $ | 13,520 | ||||
| Liabilities and capital deficiency | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Trade payables | $ | 1,383 | $ | 1,817 | ||||
| Accrued expenses and other payables | 4,382 | 4,495 | ||||||
| Deferred income | 1,555 | 1,304 | ||||||
| Convertible subordinated notes, series A | 1,377 | - | ||||||
| Convertible subordinated notes, series B | 18 | - | ||||||
| T o t a l current liabilities | 8,715 | 7,616 | ||||||
| LONG-TERM LIABILITIES: | ||||||||
| Accrued severance pay and other | 1,956 | 1,650 | ||||||
| Deffered income | 717 | 1,116 | ||||||
| Convertible subordinated notes, series A | 11,588 | 12,150 | ||||||
| Convertible subordinated notes, series B | 510 | 2,094 | ||||||
| Long-term convertible loan from shareholders | 400 | 400 | ||||||
| T o t a l long-term liabilities | 15,171 | 17,410 | ||||||
| COMMITMENTS AND CONTINGENT LIABILITIES | ||||||||
| T o t a l liabilities | 23,886 | 25,026 | ||||||
| CAPITAL DEFICIENCY: | ||||||||
Share capital - ordinary shares of no par value | ||||||||
(authorized: December 31, 2012 and June 30, 2013 - 170,000,000 shares; issued: December 31, 2012 - 33,686,134 shares; June 30, 2013 – 33,716,973 shares; outstanding: December 31, 2012 - 31,041,295 shares; June 30, 2013 – 31,072,134 shares) and additional paid in capital | 362,590 | 362,875 | ||||||
| Warrants | 3,588 | 3,588 | ||||||
| Accumulated deficit | (368,921 | ) | (372,325 | ) | ||||
| Treasury shares, at cost (2,644,839 ordinary shares) | (5,644 | ) | (5,644 | ) | ||||
| T o t a l capital deficiency | (8,387 | ) | (11,506 | ) | ||||
| T o t a l liabilities and capital deficiency | $ | 15,499 | $ | 13,520 | ||||
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
| Revenues | $ | 2,390 | $ | 3,528 | $ | 4,670 | $ | 6,769 | ||||||||
| Cost of revenues | 484 | 1,451 | 1,551 | 2,967 | ||||||||||||
| Gross profit | 1,906 | 2,077 | 3,119 | 3,802 | ||||||||||||
| Research and development expenses - net | 421 | 1,765 | 1,203 | 3,273 | ||||||||||||
| Selling, General and administrative expenses | 1,185 | 2,712 | 2,444 | 5,388 | ||||||||||||
| Operating Gain (Loss) | 300 | (2,400 | ) | (528 | ) | (4,859 | ) | |||||||||
| Financial expenses - Net | (495 | ) | (455 | ) | (1,082 | ) | (760 | ) | ||||||||
| Income (expenses) from devaluation (revaluation) of | ||||||||||||||||
Conversion feature embedded in Series A | ||||||||||||||||
convertible note | 121 | (57 | ) | (133 | ) | (416 | ) | |||||||||
Gain/(Loss) from revaluation of Series B convertible notes | (1,175 | ) | 653 | (1,709 | ) | 168 | ||||||||||
| Other Income | - | - | 48 | - | ||||||||||||
| Net loss for the period | $ | (1,249 | ) | $ | (2,259 | ) | $ | (3,404 | ) | $ | (5,867 | ) | ||||
| Loss per share ("EPS") | ||||||||||||||||
| Basic | $ | (0.04 | ) | $ | (0.10 | ) | $ | (0.11 | ) | $ | (0.26 | ) | ||||
| Diluted | $ | (0.04 | ) | $ | (0.12 | ) | $ | (0.11 | ) | $ | (0.26 | ) | ||||
| Weighted average number of shares used in | ||||||||||||||||
Computation of EPS (in thousands): | ||||||||||||||||
| Basic | 31,069 | 22,769 | 31,079 | 22,767 | ||||||||||||
| Diluted | 31,069 | 22,769 | 31,079 | 22,767 | ||||||||||||
| Interim condensed consolidation statement of Comprehensive loss: |
| Net loss for the period | $ | (1,249 | ) | $ | (2,259 | ) | $ | (3,404 | ) | $ | (5,867 | ) | ||||
| Other comprehensive income: | ||||||||||||||||
| Gain on available-for-sale marketable securities | - | 386 | - | 1,023 | ||||||||||||
| Net comprehensive loss for the period | $ | (1,249 | ) | $ | (1,873 | ) | $ | (3,404 | ) | $ | (4,844 | ) |
