Mawson Infrastructure (MIGI) 10-Q8 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	8-May-14
Document and Entity Information	'	'
Entity Registrant Name	'OphthaliX, Inc.	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001218683	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	10,441,251
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share data) (USD $)	Mar. 31, 2014	Dec. 31, 2013
CURRENT ASSETS:	'	'
Cash and cash equivalents	$266	$422
Investment in Parent Company	1,064	1,175
Other accounts receivable	53	20
Total current assets	1,383	1,617
LONG-TERM ASSETS:	'	'
Property and Equipment net	1	1
Total long term assets	1	1
Total assets	1,384	1,618
CURRENT LIABILITIES:	'	'
Related company	1,698	1,487
Other accounts payable and accrued expenses	241	263
Total current liabilities	1,939	1,750
NON-CURRENT LIABILITIES:	'	'
Derivative related to Service Agreement	6	7
STOCKHOLDERS'DEFICIENCY :	'	'
Preferred Stock -Authorized : 1,000,000 shares at March 31, 2014 and December 31, 2013, respectively; Issued and Outstanding: 0 shares at March 31, 2014 and December 31, 2013	0	0
Common Stock of $ 0.001 par value - Authorized: 100,000,000 shares at March 31, 2014 and December 31, 2013, respectively; Issued and Outstanding: 10,441,251 shares at March 31, 2014 and December 31, 2013 respectively	10	10
Additional Paid-in capital	5,526	5,469
Accumulated other comprehensive income	372	483
Accumulated deficit	-6,469	-6,101
Total stockholders' deficiency	-561	-139
Total liabilities and stockholders' deficiency	$1,384	$1,618

CONSOLIDATED_BALANCE_SHEETS_PA

CONSOLIDATED BALANCE SHEETS PARENTHETICALS (USD $)	Mar. 31, 2014	Dec. 31, 2013
Stockholders Equity Number Of Shares Par Value And Other Disclosures Abstract	'	'
Preferred Stock, shares authorized	1,000,000	1,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par or stated value	$0.00	$0.00
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	10,441,251	10,441,251
Common Stock, shares outstanding	10,441,251	10,441,251

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) (in thousands, except share and per share data) (USD $)	3 Months Ended		33 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Operating expenses:	'	'	'
Research and development	$196	$596	$3,998
General and administrative	160	205	2,490
Total operating expenses	356	801	6,488
Financial expenses (income), net	12	-59	-19
Net loss	-368	-742	-6,469
Net loss per share:	'	'	'
Basic and diluted net loss per share	($0.04)	($0.07)	'
Weighted average number of shares of Common Stock used in computing net loss per share	10,441,251	10,441,251	'
Weighted average number of shares of Common Stock used in computing diluted net loss per share	10,441,251	10,921,273	'
Available-for-sale investments:	'	'	'
Changes in net unrealized loss (gains)	111	-63	-232
Less: reclassification adjustment for net loss (gains) included in net loss	0	0	-140
Total other comprehensive loss (income)	111	-63	-372
Comprehensive loss	$479	$679	$6,097

CONDENSED_STATEMENTS_OF_CHANGE

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (UNAUDITED) U.S. dollars in thousands, except share and per share data (USD $)	Shares of Common Stock	Value of Common Stock USD($)	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income	Total stockholders' deficiency
	Shares of Common Stock	Value of Common Stock USD($)	USD ($)	USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2012	10,441,251	10	4,871	-3,264	'	1,617
Stock based compensation	'	'	$598	'	'	$598
Unrealized gain from investment in Parent Company	'	'	'	'	483	483
Net loss	'	'	'	-2,837	'	-2,837
Balance at Dec. 31, 2013	10,441,251	10	5,469	-6,101	483	-139
Stock based compensation	'	'	57	'	'	57
Unrealized loss from investment in Parent Company.	'	'	'	'	-111	-111
Net loss	'	'	'	($368)	'	($368)
Balance at Mar. 31, 2014	10,441,251	10	5,526	-6,469	372	-561

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) U.S. dollars in thousands, except share and per share data (USD $)	3 Months Ended		33 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Cash flows from operating activities:	'	'	'
Net loss	($368)	($742)	($6,469)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Decrease (increase) in other account receivables	-33	121	-53
Increase (decrease) in other accounts payables and accrued expenses	-22	-37	241
Increase in related company balance	211	492	1,698
Depreciation	'	'	1
Changes in fair value of the derivative related to Service Agreement	-1	-59	-382
Other than temporary impairment of investment in Parent Company	0	0	323
Loss from sale of investments in Parent Company	0	0	26
Stock based compensation	57	30	875
Net cash used in operating activities,	-156	-195	-3,740
Cash flows from investing activities:	'	'	'
Proceed from sale of parent Company shares, net	0	0	511
Purchase of property and equipment	'	-2	-2
Net cash used in operating activities	'	-2	509
Cash flows from financing activities:	'	'	'
Proceeds from issuance of Common shares and warrants, net	'	'	3,497
Net cash provided by financing activities	0	0	3,497
Change in cash and cash equivalents	-156	-197	266
Cash and cash equivalents at the beginning of the period	422	727	'
Cash and cash equivalents at the end of the period	$266	$530	$266

GENERAL

GENERAL	3 Months Ended
GENERAL	Mar. 31, 2014
GENERAL	'
GENERAL	'
	NOTE 1:- GENERAL

	a.OphthaliX Inc. (the "Company" or "OphthaliX") (formerly: "Denali Concrete Management Inc." or "Denali"), originally incorporated in the State of Nevada on December 10, 1999 under the name Bridge Capital.com Inc. Bridge Capital.com Inc., was a nominally capitalized corporation that did not commence its operations until it changed its name to Denali Concrete Management Inc. in March 2001. Denali was a concrete placement company specializing in providing concrete improvements in the road construction industry. Denali operated primarily in Anchorage, Alaska, placing curb and gutter, sidewalks and retaining walls for state, municipal and military projects.

	In December 2005, the Company ceased its principal business operations and focused its efforts on seeking a business opportunity, becoming a public shell company in the U.S.

	Eye-Fite Ltd. ("Eye-Fite" or the "Subsidiary") was founded on June 27, 2011 in contemplation of the execution of a transaction between Can-Fite BioPharma Ltd. (the "Parent Company" or "Can-Fite") a public company in Israel and the U.S and Denali, as further detailed in Note 1b below.

	The Company and the Subsidiary conduct research and development activities using an exclusive worldwide license for a therapeutic drug CF101 solely for the field of ophthalmic diseases after the consummation of the transaction. See also Note 1b2.

	Following the transaction, Denali changed its name to OphthaliX Inc. and also changed its corporate domicile from Nevada to Delaware.

	In December 2013, the Company announced that its Phase III study of CF101 for the treatment of dry eye syndrome did not meet the primary and secondary efficacy endpoints.

	b.Reverse Recapitalization and related arrangements:

	1.Recapitalization:

	On November 21, 2011 (the "Closing Date"), the Company acquired all the outstanding shares of EyeFite in consideration for the issuance to Can-Fite of 8,000,000 shares (and warrants to purchase shares) of the Company, representing approximately 87% of the fully diluted issued and outstanding share capital of the Company. Immediately prior to and as a condition to the closing of the transaction, OphthaliX entered into subscription agreements with new investors (the "New Investors") pursuant to which, OphthaliX received $3,330 in additional funds (excluding $333 of issuance expenses paid in cash) in consideration for issuing 646,776 shares of Common Stock of OphthaliX at a price per share of $5.148.

	The Company also received 714,922 ordinary shares in Can-Fite, representing approximately 7% of Can-Fite's issued and outstanding share capital as of the Closing Date. On June 17, 2013, the Company sold 268,095 Can-Fite ordinary shares for a total consideration of $511. As of March 31, 2014, the Company holds 446,827 Can-Fite ordinary shares, representing approximately 2.4% of Can-Fite's issued and outstanding share capital.
	In addition, OphthaliX issued to Can-Fite 466,139 shares of Common Stock of the Company in exchange for Can-Fite ordinary shares valued at $2,400 at the time of the grant.

	In accordance with the Israeli Securities Law (1968), Section 15C and related Securities Regulations, the shares issued by Can-Fite to OphthaliX have a “Resale Restriction Period”, which consists of one year of full restriction and a liquidation period of eight consecutive quarters. As such, OphthaliX is able to sell 12.5% of the Can-Fite ordinary shares it holds every quarter since November 21, 2012.

	As part of the recapitalization arrangement, Can-Fite made an additional equity investment in OphthaliX in the amount of $500 in consideration for the issuance of an aggregate of 97,113 shares of Common Stock of OphthaliX at a price per share equal to $5.148.

	In contemplation of the recapitalization transaction, it was agreed that for every four shares of Common Stock purchased by the New Investors and Can-Fite, they received nine warrants to acquire two share of Common Stock of the Company. The exercise price of such warrants is $7.74 per share of Common Stock. The warrants are exercisable for a period of five years from the date of grant. The warrants do not contain nonstandard anti-dilution provisions.

	The transaction was accounted for as a reverse recapitalization which is outside the scope of ASC 805, Business Combinations. Under reverse capitalization accounting, EyeFite is considered the acquirer for accounting and financial reporting purposes, and acquired the assets and assumed the liabilities of the Company. Assets acquired and liabilities assumed are reported at their historical amounts. Consequently, the condensed consolidated financial statements of the Company reflect the operations of the acquirer for accounting purposes together with a deemed issuance of shares, equivalent to the shares held by the former shareholders of the legal acquirer and a recapitalization of the equity of the accounting acquirer. These condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of EyeFite since inception.


	2.License and research and development services from Can-Fite:

	In connection with the consummation of the recapitalization transaction, the Company and Can-Fite entered into a license agreement, pursuant to which Can-Fite granted EyeFite a sole and exclusive worldwide license for the use of CF101, solely in the field of ophthalmic diseases ("CF101"). EyeFite will be obligated to make to the U.S. National Institutes of Health ("NIH"), with regard to the patents of which are included in the license to EyeFite, for as long as the license agreement between the Company and NIH remains in effect, a nonrefundable minimum annual royalty fee and potential future royalties of 4.0% to 5.5% on net sales.


	In addition, the Company will be obligated to make certain milestone payments ranging from $25 to $500 upon the achievement of various development milestones for each indication. As of March 31, 2014, the Company accrual related to its clinical trials totaled $175. EyeFite will also be required to make payments of 20% of sublicensing revenues, excluding royalties and net of the required milestone payments. During the first quarter of 2014, the Company did not reach any milestones or generate revenue that would trigger any such payments to Can-Fite.

	In addition, following the closing of the recapitalization transaction, an agreement was signed between Can-Fite, OphthaliX and EyeFite (the "Service Agreement"). According to the Service Agreement, Can-Fite will manage the research and development activities relating to pre-clinical and clinical studies for the development of the ophthalmic indications of CF101. According to the Service Agreement, in consideration for Can-Fite's services, EyeFite will pay to Can-Fite a service fee (consisting of all expenses and costs incurred by Can-Fite plus 15%). In addition, the Company is committed to future additional payments equal to 2.5% of any and all proceeds received by EyeFite relating to the activities regarding the drug (the "Additional Payment").

	According to the Service Agreement, Can-Fite will have the right, until the earlier of (a) November 21, 2016, and (b) the closing of the acquisition of our company by another entity, resulting in the exchange of our outstanding shares of common stock such that the stockholders of our company prior to such transaction own, directly or indirectly, less than 50% of the voting power of the surviving entity, to convert the Additional Payment into an additional 480,022 shares of Common Stock of the Company (subject to adjustment in certain circumstances).


	c. The Company devotes most of its efforts toward research and development activities. As of March 31, 2014, the Company does not have sufficient capital resources to conduct its research and development activities until commercialization of the underlying products.

	The Company's inability to raise funds to conduct its research and development activities will have a severe negative impact on its ability to remain a viable company. Liquidity resources, as of March 31, 2014 will be sufficient to continue the development of the Company's products at least for twelve months from the balance sheet date.

	The Company is addressing its liquidity issues by implementing initiatives to raise additional funds as well as other measures that will allow it to cover its anticipated budget deficit. Such initiatives may include monetizing the Company's investment in Can-Fite's ordinary shares. In addition, in February 2013, which was updated in March 2014, the Company obtained a formal letter from Can-Fite stating that Can-Fite agrees to defer receiving payments owed under the Services Agreement from January 31, 2013 for the performance of the clinical trials of CF101 in ophthalmic indications until the completion of a fundraising by the Company. Any such deferred payments bear interest at a rate of 3% per annum from the due date of each invoice issued by Can-Fite to the Company until the time of payment by the Company.

	As of March 31, 2014, the deferred payments to Can-Fite totaled $1,684.

	There are no assurances that the Company will be successful in obtaining an adequate level of financing needed for its long-term research and development activities. If the Company does not have sufficient liquidity resources, the Company may not be able to continue the development of all of its products or may be required to delay part of the development programs.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES	'
SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2:-
	SIGNIFICANT ACCOUNTING POLICIES

	The significant accounting policies applied in the annual financial statements of the Company as of December 31, 2013, are applied consistently in these financial statements.

UNAUDITED_CONDENSED_FINANCIAL_

UNAUDITED CONDENSED FINANCIAL STATEMENTS	3 Months Ended
UNAUDITED CONDENSED FINANCIAL STATEMENTS	Mar. 31, 2014
UNAUDITED CONDENSED FINANCIAL STATEMENTS	'
UNAUDITED CONDENSED FINANCIAL STATEMENTS	'
	NOTE 3:-
	UNAUDITED CONDENSED FINANCIAL STATEMENTS

	The unaudited Condensed Consolidated Financial Statements of OphthaliX Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information as well as the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Condensed Consolidated Balance Sheet as of December 31, 2013, is derived from the audited Consolidated Financial Statements as of that date, but does not include all disclosures including notes required by GAAP. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2014, are not necessarily indicative of the results that may be expected for the year ending December 31, 2014, or any future period. The information included in this Quarterly Report on Form 10-Q ("Report") should be read in conjunction with “Management's Discussion and Analysis of Financial Condition and Results of Operations,” “Risk Factors,” “Quantitative and Qualitative Disclosures About Market Risk,” and the Consolidated Financial Statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013.

	The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ materially from those estimates under different assumptions or conditions.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2014
Fair Value Measures and Disclosures	'
FAIR VALUE MEASUREMENTS	'
	NOTE 4:-
	FAIR VALUE MEASUREMENTS

	The Company considers an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Since the quoted market value of the Company’s Common Stock was based on a sporadically traded stock with little volume, the Company's management determined the Company's stock price fair value based on ASC 820 Fair Value Measurement using the income approach assisted by a third party specialist. Consequently, the Company used the estimated stock price fair value in the underlying assumptions of the computation of the fair value of the derivative related to the Service Agreement.

	In accordance with ASC 820, the Company measures part of its investment in the Parent Company and embedded derivatives in the Service Agreement, at fair value. The investment in the Parent Company fair value is based on quoted prices for identical assets in active markets and other inputs (such as risk free interest and volatility) that are directly or indirectly observable in the marketplace. Shares that are restricted for less than one year should be re-measured to reflect fair value at each cutoff date. As a result of such restrictions, the Company adjusted the quoted market price in the Tel-Aviv Stock Exchange of its investment in the Parent Company's shares, to reflect the discount that results from the resale restriction provisions. In measuring the fair value, the Company used an average of Protective Put and Asian Put Option models. In estimating the fair value, the Company used Black-Scholes option-pricing model. These securities are classified as available-for-sale securities carried at fair value, with unrealized gains and losses reported as a separate component of shareholders' equity under accumulated other comprehensive loss (income) in the consolidated balance sheets. The assets are classified within Level 2 on the fair value hierarchy. Embedded derivatives are classified within Level 3 because they are valued using valuation techniques. Some of the inputs to these models are unobservable in the market and are significant.

	The following table provides information by value level for financial assets and liabilities that are measured at fair value, as defined by ASC 820, on a recurring basis as of March 31, 2014 and December 31, 2013.

		31-Mar-14
		Fair value measurements
	Description	Fair Value		Level 1⁽¹⁾	Level 2⁽²⁾	Level 3⁽³⁾

	Investment in Parent Company	$ 1,064		$ 672	$ 392	$ -
	Derivative related to Service Agreement	-6		-	-	(6)

	Total Financial Assets, net	$ 1,058		$ 672	$ 392	$ (6)


		31-Dec-13
		Fair value measurements
	Description	Fair Value		Level 1(1)	Level 2(2)	Level 3(3)

	Investment in Parent Company	$ 1,175		$ 514	$ 661	$ -
	Derivative related to Service Agreement	-7		-	-	-7

	Total Financial Assets, net	$ 1,168		$ 514	$ 661	$ (7)

	-1
	Represents the portion of the Parent Company's shares that has no trading restrictions.
	-2
	Represents the portion of the Parent Company's shares that has trading restrictions.
	-3
	Fair value measurements using significant unobservable inputs (Level 3).

	The following table presents the changes in Level 3 instruments measured on a recurring basis for the three months ended March 31, 2014. The Company's Level 3 instruments consist of derivatives.




	Balance at January 1, 2013	$	470

	Change in fair value of derivatives		(463)

	Balance at December 31, 2013	$	7

	Change in fair value of derivatives		(1)

	Balance at March 31, 2014	$	6

EQUITY

EQUITY	3 Months Ended
EQUITY	Mar. 31, 2014
EQUITY	'
EQUITY	'
	NOTE 5:-

	EQUITY

	The following table summarizes the activity of stock options:


		Shares Subject to Options Outstanding
	Description	Number of	Weighted	Weighted-	Aggregate
		Shares	Average	Average	Intrinsic
			Exercise	Remaining	Value⁽¹⁾ (in thousands)
			Price	Contractual
				Term (in years)
	Outstanding as of December 31, 2013	326,324	6.25	9.15	$ -
	Granted	-	-	-	-
	Forfeited/cancelled	-	-	-	-
	Outstanding as of March 31, 2014	326,324	6.25	8.9	$ -

	Exercisable as of March 31, 2014	95,186	7.32	8.59	$ -
	Vested and expected to be vested	221,912	6.7	8.82	$ -

	-1

	The aggregate intrinsic value is calculated as the difference between the exercise price of the stock options and the closing price of the shares of the Company?s Common Stock of $1.85 as of March 31, 2014.

	As of March 31, 2014, there was $161 of unrecognized stock-based compensation expense all of which is related to stock options. This unrecognized compensation expense, expected to be recognized over a weighted-average period of approximately two years.

Accounting_Policies_Policies

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2014
Accounting Policies (Policies):	'
Basis of Accounting	'
	The significant accounting policies applied in the annual financial statements of the Company as of December 31, 2013, are applied consistently in these financial statements.

Financial_assets_and_liabiliti

Financial assets and liabilities that are measured at fair value (Tables)	3 Months Ended
	Mar. 31, 2014
Financial assets and liabilities that are measured at fair value	'
Financial assets and liabilities that are measured at fair value	'
	The following table provides information by value level for financial assets and liabilities that are measured at fair value, as defined by ASC 820, on a recurring basis as of March 31, 2014 and December 31, 2013.

		31-Mar-14
		Fair value measurements
	Description	Fair Value	Level 1⁽¹⁾	Level 2⁽²⁾	Level 3⁽³⁾

	Investment in Parent Company	$ 1,064	$ 672	$ 392	$ -
	Derivative related to Service Agreement	-6	-	-	(6)

	Total Financial Assets, net	$ 1,058	$ 672	$ 392	$ (6)


		31-Dec-13
		Fair value measurements
	Description	Fair Value	Level 1(1)	Level 2(2)	Level 3(3)

	Investment in Parent Company	$ 1,175	$ 514	$ 661	$ -
	Derivative related to Service Agreement	-7	-	-	-7

	Total Financial Assets, net	$ 1,168	$ 514	$ 661	$ (7)

Fair_value_measurements_using_

Fair value measurements using significant unobservable inputs (Tables)	3 Months Ended
	Mar. 31, 2014
Fair value measurements using significant unobservable inputs	'
Fair Value, Option, Quantitative Disclosures	'
	The following table presents the changes in Level 3 instruments measured on a recurring basis for the three months ended March 31, 2014. The Company's Level 3 instruments consist of derivatives.




	Balance at January 1, 2013	$	470

	Change in fair value of derivatives		(463)

	Balance at December 31, 2013	$	7

	Change in fair value of derivatives		(1)

	Balance at March 31, 2014	$	6

Summary_of_Stock_Options_Table

Summary of Stock Options (Tables)	3 Months Ended
Summary of Stock Options (Tables)	Mar. 31, 2014
Summary of Stock Options (Table):	'
The following table summarizes the activity of stock options	'
	The following table summarizes the activity of stock options:


		Shares Subject to Options Outstanding
	Description	Number of	Weighted	Weighted-	Aggregate
		Shares	Average	Average	Intrinsic
			Exercise	Remaining	Value⁽¹⁾ (in thousands)
			Price	Contractual
				Term (in years)
	Outstanding as of December 31, 2013	326,324	6.25	9.15	$ -
	Granted	-	-	-	-
	Forfeited/cancelled	-	-	-	-
	Outstanding as of March 31, 2014	326,324	6.25	8.9	$ -

	Exercisable as of March 31, 2014	95,186	7.32	8.59	$ -
	Vested and expected to be vested	221,912	6.7	8.82	$ -

Organization_details_DETAILS

Organization details (DETAILS) (USD $)	Mar. 31, 2014	Jun. 17, 2013	Mar. 31, 2013	Nov. 21, 2011
Organization Details	'	'	'	'
Company acquired all the outstanding shares of Eye-Fite in exchange of shares	'	'	'	8,000,000
Percentage of share acquired in the company by can-fite in consolidation for the 8,000,000 shares	'	'	'	87.00%
Value of new shares issued	'	'	'	$3,330,000
Issuance expenses paid in cash	'	'	'	333,000
Common shares of OphthaliX issued	'	'	'	646,776
Common shares par value	'	'	'	$5.15
Issuance of ordinary shares in Can-Fite	'	'	'	714,922
Company sold Can-Fite ordinary shares f	'	268,095	'	0
A total consideration	'	511,000	'	0
The Company holdsCan-Fite ordinary shares,	446,827	446,827	'	714,922
OphthaliX issued to Can-Fite in exchange for Can-Fite ordinary shares	'	'	'	466,139
Ordinary shares valued at	'	'	'	2,400,000
Additional equity investment under by can-fite recapitalization arrangement	'	'	'	500,000
Additional equity investment by Can-Fite under recapitalization	'	'	'	97,113
Common stock per share value	'	'	'	$5.15
Warrants Exercise Price	'	'	'	$7.74
Royalties minimum percentage on net sales	'	'	'	4.00%
Royalties maximum percentage on net sales	'	'	'	5.50%
OphthaliX will be able to sell fixed percentage of Can-Fite's issued shares, every quarter	'	'	'	12.50%
Deferred payments to Can-Fite totaled	$1,684	'	$420	'

Fair_value_measurements_using_1

Fair value measurements using significant unobservable inputs (Details) (Change in fair value, USD $)	Change in fair value
	USD ($)
Balance at Dec. 31, 2012	470
Change in fair value of derivatives	($463)
Balance at Dec. 31, 2013	7
Balance at Dec. 31, 2013	'
Change in fair value of derivatives.	($1)
Balance at Mar. 31, 2014	6

Unrecognized_stockbased_compen

Unrecognized stock-based compensation expense (Details) (USD $)	Mar. 31, 2014
Unrecognized stock-based compensation expense	'
Unrecognized compensation expense, related to stock options	$161

Financial_assets_and_liabiliti1

Financial assets and liabilities that are measured at fair value on a recurring basis (Details) (in thousands) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Fair Value	'	'
Investment in Parent Company	$1,064	$1,175
Investment in Parent Company	1,064	1,175
Derivative related to Service Agreement	-6	-7
Total Financial Assets, net	1,058	1,168
Level 1(1)	'	'
Investment in Parent Company	672	514
Investment in Parent Company	672	514
Total Financial Assets, net	672	514
Level 2(2)	'	'
Investment in Parent Company	392	661
Investment in Parent Company	392	661
Total Financial Assets, net	392	661
Level 3	'	'
Derivative related to Service Agreement	-6	-7
Total Financial Assets, net	($6)	($7)

Summarizes_the_activity_of_sto

Summarizes the activity of stock options (Details)	Number of Shares	Weighted Average Excercise Price	Weighted Average Remaining-Contractual Term (in year	Aggregate Intrinsic Value(1) (in thousands)
Outstanding. at Dec. 31, 2013	326,324	6.25	9.15	0
Granted	0	'	'	'
Forfeited/cancelled	0	'	'	'
Vested and expected to be vested at Mar. 31, 2014	221,912	6.7	8.82	'
Exercisable, at Mar. 31, 2014	95,186	7.32	8.59	'
Outstanding, at Mar. 31, 2014	326,324	6.25	8.9	0