Mawson Infrastructure (MIGI) 10-Q 12 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 13, 2015
Document and Entity Information
Entity Registrant Name	OphthaliX, Inc.
Entity Central Index Key	1,218,683
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,441,251

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents		$ 9	$ 9
Investment in Parent Company		500	794
Other accounts receivable		193	209
Total current assets		$ 702	1,012
PROPERTY AND EQUIPMENT, NET			1
Total assets		$ 702	1,013
CURRENT LIABILITIES:
Related company		2,993	2,457
Other accounts payable and accrued expenses		207	246
Total current liabilities		$ 3,200	$ 2,703
NON-CURRENT LIABILITIES:
Derivative related to Service Agreement	[1]
Share capital
Preferred Stock - Authorized : 1,000,000 shares at June 30, 2015 and December 31, 2014, respectively; Issued and Outstanding: 0 shares at June 30, 2015 and December 31, 2014
Common Stock of $0.001 par value - Authorized: 100,000,000 shares at June 30, 2015 and December 31, 2014, respectively; Issued and Outstanding: 10,441,251 shares at June 30, 2015 and December 31, 2014, respectively		$ 10	$ 10
Additional Paid-in capital		5,508	5,494
Accumulated other comprehensive income		(192)	102
Accumulated deficit		(7,824)	(7,296)
Total stockholders' deficiency		(2,498)	(1,690)
Total liabilities and stockholders' deficiency		$ 702	$ 1,013
[1]	Represents an amount lower than $1

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [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 value	$ 0.001	$ 0.001
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 Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Operating expenses:
Research and development	$ 197	$ 144	$ 303	$ 340	$ 721
General and administrative	103	23	185	183	425
Total operating expenses	300	167	488	523	1,146
Financial expenses, net	21	7	40	19	49
Net loss	$ 321	$ 174	$ 528	$ 542	$ 1,195
Net loss per share:
Basic and diluted loss per share	$ 0.03	$ 0.01	$ 0.05	$ 0.05	$ 0.11
Weighted average number of Common Stocks used in computing basic and diluted net loss per share	10,441,251	10,441,251	10,441,251	10,441,251	10,441,251
Available-for-sale investments:
Changes in net unrealized loss	$ 11	$ 262	$ 294	$ 373	$ 381
Total other comprehensive loss	11	262	294	373	381
Comprehensive loss	$ 332	$ 436	$ 822	$ 915	$ 1,576

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Changes in Stockholders' Equity Deficiency - USD ($) $ in Thousands	Total	Shares of Common Stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income
Beginning Balance at Dec. 31, 2013	$ (139)	$ 10	$ 5,469	$ (6,101)	$ 483
Beginning Balance, Shares at Dec. 31, 2013		10,441,251
Stock based compensation	(5)		$ (5)
Unrealized loss from investment in Parent company	(373)				$ (373)
Net loss	(542)			$ (542)
Ending Balance at Jun. 30, 2014	(1,059)	$ 10	$ 5,464	(6,643)	$ 110
Ending Balance, Shares at Jun. 30, 2014		10,441,251
Beginning Balance at Dec. 31, 2013	(139)	$ 10	5,469	(6,101)	483
Beginning Balance, Shares at Dec. 31, 2013		10,441,251
Stock based compensation	25
Net loss	(1,195)
Ending Balance at Dec. 31, 2014	(1,690)	$ 10	5,494	$ (7,296)	$ 102
Ending Balance, Shares at Dec. 31, 2014		10,441,251
Stock based compensation	14		$ 14
Unrealized loss from investment in Parent company	(294)				$ (294)
Net loss	(528)			$ (528)
Ending Balance at Jun. 30, 2015	$ (2,498)	$ 10	$ 5,508	$ (7,824)	$ (192)
Ending Balance, Shares at Jun. 30, 2015		10,441,251

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (528)	$ (542)	$ (1,195)
Adjustments to reconcile net loss to net cash used in operating activities:
Decrease (increase) in other accounts receivable	16	(26)	(189)
Decrease in other account payables and accrued expenses	(39)	(53)	(17)
Increase in balance with Related company	536	$ 358	$ 970
Depreciation	$ 1
Changes in fair value of the derivative related to service agreement		$ (4)	$ (7)
Stock based compensation	$ 14	(5)	25
Net cash used in operating activities		$ (272)	$ (413)
Cash flows from investing activities:
Net cash provided by investing activities
Cash flows from financing activities:
Net cash provided by financing activities
Change in cash and cash equivalents		$ (272)	$ (413)
Cash and cash equivalents at the beginning of the period	$ 9	422	422
Cash and cash equivalents at the end of the period	$ 9	$ 150	$ 9
[1]	Represents an amount lower than $1

General

General	6 Months Ended
	Jun. 30, 2015
General [Abstract]
GENERAL	NOTE 1:- GENERAL a. OphthaliX Inc. (the "Company" or "OphthaliX"), originally incorporated in the State of Nevada on December 10, 1999 under the name 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. ("Denali"), 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 U.S, and the Company, as further detailed in Note 1b below. The Company and its Subsidiary conduct research and development activities using an exclusive worldwide license for CF101, a synthetic A3 adenosine receptor, or A3AR, agonist (known generically as IB-MECA) 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. b. Reverse Recapitalization and related arrangements: 1. Recapitalization: On November 21, 2011 (the "Closing Date"), Can-Fite purchased 8,000,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) in exchange for all of the issued and outstanding ordinary shares of Eyefite pursuant to the terms of a stock purchase agreement (the “Purchase Agreement”). As a result, Eyefite became a wholly-owned subsidiary of the Company and Can-Fite became its majority stockholder and a parent. Also on November 21, 2011, the Company issued a warrant to Can-Fite by which Can-Fite has the right, until the earlier of (a) the November 21, 2016 and (b) the closing of the acquisition of the Company by another entity, resulting in the exchange of the Company’s outstanding common shares such that its stockholders prior to such transaction own, directly or indirectly, less than 50% of the voting power of the surviving entity, to convert its right to the Additional Payment (as defined below) into 480,022 shares of Common Stock (subject to adjustment in certain circumstances). The per share exercise price for the shares is $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 June 30, 2015, the Company holds 446,827 Can-Fite ordinary shares, representing approximately 2.1% of Can-Fite's issued and outstanding share capital. In accordance with the Israeli Securities Law (1968), Section 15C and related Securities Regulations, the ordinary 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 was eligible to sell 12.5% of the Can-Fite ordinary shares it holds every quarter since November 21, 2012. As of June 30, 2015, there are no restrictions on selling the aforementioned shares. 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 shares 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 (see also Note 6b to the consolidated financial statements as of December 31, 2014). 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. During 2013, the Company accrued an amount of $75 related the Glaucoma phase II clinical trial. EyeFite will also be required to make payments of 20% of sublicensing revenues, excluding royalties and net of the required milestone payments. During 2014 and 2015, the Company did not reach any milestone or generate revenue that would trigger additional payments to Can-Fite. As of June 30, 2015 the aggregate amount accrued for these milestones payment is $175. In addition, following the closing of the recapitalization transaction, Can-Fite, OphthaliX and EyeFite entered into a service agreement (the "Service Agreement"). Pursuant to the terms of 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. 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, at any time until November 21, 2016, to convert the Additional Payment into an additional 480,022 shares of Common Stock of the Company for total consideration of $2,471 (subject to adjustment in certain circumstances - See also Note 6 to the consolidated financial statements as of December 31, 2014). c. Share Purchase Agreement: On June 18, 2015, the Company entered into a Share Purchase Agreement (the “Agreement”) with Improved Vision Systems (I.V.S) Ltd (“IVS”), an Israeli company and its shareholders (the “Sellers”). Upon the terms and subject to the conditions further described in the Agreement, the Company will acquire IVS from the Sellers through the transfer to the Company of all issued and outstanding ordinary shares of IVS in exchange for (i) the issuance by the Company of an aggregate of 2,920,748 shares of Common Stock of the Company to the Sellers, (ii) the issuance by the Company of options to purchase an aggregate of 303,174 shares of Common Stock of the Company to holders of commitments to be granted options to purchase ordinary shares of IVS (the “Option Holders”), and (iii) the issuance by the Company of an aggregate of 2,219,771 shares of Common Stock of the Company to the Sellers and options to purchase 230,411 shares of Common Stock of the Company to the Option Holders upon the fulfillment of certain milestones (collectively, the "Milestone Securities"). The Milestone Securities shall be issued as follows: (i) 1,289,569 Milestone Securities shall be issued upon successful completion of a human clinical study of the first application of the Company’s eye tracking product and (ii) 1,160,613 Milestone Securities shall be issued upon the first commercial sale of the Company’s eye tracking product. The Company has agreed to file a registration statement registering the resale of the Company’s Common Stock issuable under the Agreement at such times and covering such amounts of shares as set forth in the Agreement. In addition to customary closing conditions, the initial closing is subject to, among other things, the following: (i) the Sellers shall have obtained a ruling from the Israeli Tax Authority, (ii) completion of a fundraising by the Company in an amount no less than the greater of $6,000 or the minimum amount to meet the shareholder equity requirements to up-list the Company to a national securities exchange, and (iii) receipt of approval by the Company to up-list the Company to a national securities exchange. If the initial closing does not take place prior to August 15, 2015, then the Agreement shall automatically terminate, unless otherwise agreed to in writing between the Company, IVS and its founder. d. The Company devotes most of its efforts toward research and development activities. As of June 30, 2015, the Company does not have sufficient capital resources to conduct its research and development activities until commercialization of the underlying products. 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 include a plan to monetize part or all of the Company's investment in Can-Fite's ordinary shares. In addition, in February 2013 Can-Fite issued to the Company a formal letter, which has been updated periodically (most recently in August 2015), stating that Can-Fite agrees to defer payments owing to it under the Services Agreement from January 31, 2013 for the performance of the clinical trials of CF101 in ophthalmic indications until the completion of fundraising by the Company sufficient to cover such deferred payments. In addition, in August 2015, Can-Fite issued a financial support letter pursuant to which it committed to cover any shortfall in the costs and expenses of operations of the Company which are in excess of the Company's available cash to finance its operations, including cash generated from any future sale of Can-Fite shares held by the Company. Both letters remain in effect for a period of at least 14 months from August 2015 and any related balance bears interest at a rate of 3% per annum. 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 June 30, 2015, together with the Parent company support letters described above, will be sufficient to maintain the Company's operations for at least 12 months. As of June 30, 2015, the deferred payments to Can-Fite totaled $2,728. 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 will 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.

Unaudited Condensed Financial S

Unaudited Condensed Financial Statements	6 Months Ended
	Jun. 30, 2015
Unaudited Condensed Financial Statements [Abstract]
UNAUDITED CONDENSED FINANCIAL STATEMENTS	NOTE 2:- 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 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 June 30, 2015, included herein was derived from the audited Consolidated Financial Statements for the year ended December 31, 2014. 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 June 30, 2015, are not necessarily indicative of the results that may be expected for the year ending December 31, 2015, or any future period. The information included in this interim 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, 2014. 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. The significant accounting policies applied in the annual financial statements of the Company as of December 31, 2014 are applied consistently in these condensed financial statements. For further information, refer to the consolidated financial statements as of December 31, 2014.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3:- 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. 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 Company's investment in Parent Company ordinary shares is measured in accordance with ASC 820, based on the Parent Company's ordinary shares fair value as quoted in the Tel Aviv Stock Exchange. 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 condensed consolidated balance sheets. The assets are classified within Level 1 on the fair value hierarchy. 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 June 30, 2015 and December 31, 2014. June 30, 2015 Fair value measurements Description Fair Value Level 1 Level 2 Level 3(1) Unaudited Investment in Parent Company $ 500 $ 500 $ - $ - Derivative related to Service Agreement *) - - - *) - Total Financial Assets, net $ 500 $ 500 $ - $ - *) Represents an amount lower than $1 December 31, 2014 Fair value measurements Description Fair Value Level 1 Level 2 Level 3(1) Unaudited Investment in Parent company $ 794 $ 794 $ - $ - Derivative related to Service Agreement *) - - - *) - Total Financial Assets, net $ 794 $ 794 $ - $ - *) Represents an amount lower than $1 (1) Fair value measurements using significant unobservable inputs The following table presents the changes in Level 3 instruments measured on a recurring basis for the three months ended June 30, 2015. The Company's Level 3 instruments consist of derivatives. Unaudited Balance at January 1, 2014 $ 7 Change in fair value of derivatives (7 ) Balance at December 31, 2014 *) - Change in fair value of derivatives - Balance at June 30, 2015 $ *) - *) Represents an amount lower than $1 The following table presents the changes in Level 3 instruments measured on a recurring basis for the six months ended June 30, 2015. The Company's Level 3 instruments consist of derivatives.

Equity

Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
EQUITY	NOTE 4:- EQUITY The following table summarizes the activity of stock options: Shares Subject to Options Outstanding Description Number of Shares Weighted Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (1) Unaudited Outstanding as of January 1, 2015 117,500 7.96 7.8 $ - Granted - - - - Expired - - - - Forfeited/cancelled - - - - Outstanding as of June 30, 2015 117,500 7.96 7.36 $ - Exercisable as of June 30, 2015 97,917 8.16 7.24 - Vested and expected to be vested 117,500 7.96 7.36 $ - (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 $1.9 as of June 30, 2015. As of June 30, 2015, there was $11 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 0.5 years.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
Summary of financial assets and liabilities measured at fair value on recurring basis	June 30, 2015 Fair value measurements Description Fair Value Level 1 Level 2 Level 3(1) Unaudited Investment in Parent Company $ 500 $ 500 $ - $ - Derivative related to Service Agreement *) - - - *) - Total Financial Assets, net $ 500 $ 500 $ - $ - *) Represents an amount lower than $1 December 31, 2014 Fair value measurements Description Fair Value Level 1 Level 2 Level 3(1) Unaudited Investment in Parent company $ 794 $ 794 $ - $ - Derivative related to Service Agreement *) - - - *) - Total Financial Assets, net $ 794 $ 794 $ - $ - *) Represents an amount lower than $1 (1) Fair value measurements using significant unobservable inputs
Summary of changes in level 3 instruments measured on recurring basis	Unaudited Balance at January 1, 2014 $ 7 Change in fair value of derivatives (7 ) Balance at December 31, 2014 *) - Change in fair value of derivatives - Balance at June 30, 2015 $ *) - *) Represents an amount lower than $1

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of stock options activity	Shares Subject to Options Outstanding Description Number of Shares Weighted Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (1) Unaudited Outstanding as of January 1, 2015 117,500 7.96 7.8 $ - Granted - - - - Expired - - - - Forfeited/cancelled - - - - Outstanding as of June 30, 2015 117,500 7.96 7.36 $ - Exercisable as of June 30, 2015 97,917 8.16 7.24 - Vested and expected to be vested 117,500 7.96 7.36 $ - (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 $1.9 as of June 30, 2015.

General (Details)

General (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 12, 2012	Jun. 18, 2015	Jun. 17, 2013	Nov. 21, 2012	Nov. 21, 2011	Jun. 30, 2015	Dec. 31, 2014
General [Textual]
Common Stock, par value						$ 0.001	$ 0.001
Accrued for milestones payment						$ 175
Exercise price of the warrants	$ 7.74						$ 7.74
License agreement terms							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.
Percentage of expenses					15.00%
Future additional payments percentage					2.50%
Common Stock converted to additional payment					480,022
Bearing interest rate per annum						3.00%
Fund raised by meet the shareholder requirements						$ 6,000
Maximum [Member]
General [Textual]
Payment for milestone							$ 500
Minimum [Member]
General [Textual]
Payment for milestone							$ 25
Eye-Fite Ltd [Member]
General [Textual]
Shares issued for acquired outstanding shares					8,000,000
Shares issued, price per share					$ 5.148
Percentage of sublicensing revenues						20.00%
Can-Fite [Member]
General [Textual]
Ordinary shares received							714,922
Percentage of issued and outstanding share capital on Closing Date							7.00%
Accrued for milestones payment						$ 75
Total consideration received for sale of stock			$ 511				$ 2,471
Ordinary shares held			268,095			446,827
Percentage of issued and outstanding share capital				12.50%		2.10%
Warrants exercisable period							5 years
Exercise price of the warrants							$ 7.74
Common Stock converted to additional payment			268,095				480,022
Option Holders [Member]
General [Textual]
Common stock shares issued		2,920,748
Options to purchase shares of common stock		303,174
Milestone Securities [Member]
General [Textual]
Common stock shares issued		2,219,771
Options to purchase shares of common stock		230,411
Share based arrangement for issuing shares						(i) 1,289,569 Milestone Securities shall be issued upon successful completion of a human clinical study of the first application of the Company’s eye tracking product and (ii) 1,160,613 Milestone Securities shall be issued upon the first commercial sale of the Company’s eye tracking product.

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring [Member] - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Parent Company		$ 500	$ 794
Derivative related to Service Agreement	[1]
Total Financial Assets, net		$ 500	$ 794
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Parent Company		$ 500	$ 794
Derivative related to Service Agreement
Total Financial Assets, net		$ 500	$ 794
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Parent Company
Derivative related to Service Agreement
Total Financial Assets, net
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Parent Company	[2]
Derivative related to Service Agreement	[1],[2]
Total Financial Assets, net	[2]
[1]	Represents an amount lower than $1
[2]	Fair value measurements using significant unobservable inputs

Fair Value Measurements (Deta15

Fair Value Measurements (Details 1) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Fair Value Measurements [Abstract]
Beginning Balance			$ 7
Change in fair value of derivatives			$ (7)
Ending Balance	[1]
[1]	Represents an amount lower than $1

Equity (Details)

Equity (Details) - Jun. 30, 2015 - Employee Stock Option [Member] - USD ($) None in scaling factor is -9223372036854775296		Total
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding		117,500
Number of shares, Granted
Number of shares, Expired
Number of shares, Forfeited/cancelled
Number of Shares, Outstanding		117,500
Number of Shares, Exercisable		97,917
Number of Shares, Vested and expected to be vested		117,500
Weighted Average Exercise Price, Outstanding		$ 7.96
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Expired
Weighted Average Exercise Price, Forfeited/cancelled
Weighted Average Exercise Price, Outstanding		$ 7.96
Weighted Average Exercise Price, Exercisable		8.16
Weighted Average Exercise Price, Vested and expected to be vested		$ 7.96
Weighted Average Remaining Contractual Term, Outstanding (in years)		7 years 9 months 18 days
Weighted Average Remaining Contractual Term, Outstanding (in years)		7 years 4 months 10 days
Weighted Average Remaining Contractual Term, Exercisable (in years)		7 years 2 months 27 days
Weighted Average Remaining Contractual Term, Vested and expected to be vested (in years)		7 years 4 months 10 days
Aggregate Intrinsic Value, Outstanding	[1]
Aggregate Intrinsic Value, Granted	[1]
Aggregate Intrinsic Value, Expired	[1]
Aggregate Intrinsic Value, Forfeited/cancelled	[1]
Aggregate Intrinsic Value, Outstanding	[1]
Aggregate Intrinsic Value, Exercisable	[1]
Aggregate Intrinsic Value, Vested and expected to be vested	[1]
[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 $ 1.9 as of June 30, 2015.

Equity (Details Textual)

Equity (Details Textual) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands	Total
Equity (Textual)
Closing price of the shares	$ 1.9
Unrecognized stock-based compensation expense related to stock options	$ 11
Unrecognised compensation expense, expected to recognized weighted average period	6 months