Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 14, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | NanoVibronix, Inc. | |
Entity Central Index Key | 1,326,706 | |
Document Type | 10-Q | |
Trading Symbol | NAOV | |
Document Period End Date | Jun. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 3,957,953 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,018 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
CURRENT ASSETS: | |||
Cash | $ 2,515 | $ 4,360 | |
Trade receivables | 70 | 24 | |
Inventories | 78 | 76 | |
Prepaid expenses and other accounts receivable | 159 | 56 | |
Total current assets | 2,822 | 4,516 | |
NON-CURRENT ASSETS: | |||
Long-term prepaid expense | 4 | 5 | |
Severance pay fund | 339 | 338 | |
Property and equipment, net | 8 | 6 | |
Total non- current assets | 351 | 349 | |
Total assets | 3,173 | 4,865 | |
CURRENT LIABILITIES: | |||
Trade payables | 76 | 168 | |
Other accounts payable | 435 | 629 | |
Total current liabilities | 511 | 797 | |
LONG-TERM LIABILITIES: | |||
Accrued severance pay | 442 | 434 | |
Total long-term liabilities | 442 | 434 | |
COMMITMENTS AND CONTINGENT LIABILITIES | |||
STOCKHOLDERS' EQUITY: | |||
Stock capital - Common stock of $ 0.001 par value - Authorized: 20,000,000 shares at June 30, 2018 and December 31, 2017; Issued and outstanding: 3,957,953 at June 30, 2018 and 3,935,865 at December 31, 2017, respectively. | 4 | 4 | |
Additional paid-in capital | 32,209 | 32,010 | |
Accumulated deficit | (29,995) | (28,382) | |
Total stockholders' equity | 2,220 | 3,634 | |
Total liabilities and stockholders' equity | 3,173 | 4,865 | |
Series D Preferred Stock [Member] | |||
STOCKHOLDERS' EQUITY: | |||
Preferred stock | [1] | ||
Series C Preferred Stock [Member] | |||
STOCKHOLDERS' EQUITY: | |||
Preferred stock | $ 2 | $ 2 | |
[1] | Represents an amount lower than $ 1. |
CONSOLIDATED BALANCE SHEETS (U3
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Common stock, at par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized | 20,000,000 | 20,000,000 |
Common stock, issued | 3,957,953 | 3,935,865 |
Common stock, outstanding | 3,957,953 | 3,935,865 |
Preferred D Stocks [Member] | ||
Preferred stock, at par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 506 | 506 |
Preferred stock, issued | 304 | 304 |
Preferred stock, outstanding | 304 | 304 |
Series C Preferred Stock [Member] | ||
Preferred stock, at par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 2,483,142 | 2,483,142 |
Preferred stock, outstanding | 2,483,142 | 2,483,142 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||||
Revenues | $ 132 | $ 52 | $ 209 | $ 104 |
Cost of goods sold | 55 | 18 | 77 | 34 |
Gross profit | 77 | 34 | 132 | 70 |
Operating expenses: | ||||
Research and development | 151 | 164 | 286 | 314 |
Selling and marketing | 297 | 106 | 526 | 200 |
General and administrative | 454 | 424 | 934 | 1,017 |
Total operating expenses | 902 | 694 | 1,746 | 1,531 |
Operating loss | (825) | (660) | (1,614) | (1,461) |
Financial income (expense), net | 11 | (178) | 23 | (242) |
Loss before taxes on income | (814) | (838) | (1,591) | (1,703) |
Taxes on income | 10 | 11 | 22 | 22 |
Net Loss | (824) | (849) | (1,613) | (1,725) |
Deemed dividend related to extension of February 2015 warrants to Common stock in January 2018 | 841 | |||
Total comprehensive loss attributable to holders of Common Stock | $ (824) | $ (849) | $ (1,613) | $ (2,566) |
Common stock and Preferred C stock basic and diluted loss per share | $ (0.13) | $ (0.18) | $ (0.25) | $ (0.56) |
Weighted average number of shares of Common stock and Preferred C stock used in computing basic and diluted loss per share | 6,429,201 | 4,594,165 | 6,424,132 | 4,583,971 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIENCY (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Series C Preferred Stock [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at Beginning | $ 2 | |
Balance at Beginning (in shares) | 2,483,142 | |
Balance at End | $ 2 | $ 2 |
Balance at End (in shares) | 2,483,142 | 2,483,142 |
Series D Preferred Stock [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at Beginning | $ 0 | |
Balance at Beginning (in shares) | 304 | |
Balance at End | $ 0 | $ 0 |
Balance at End (in shares) | 304 | 304 |
Common Stock [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at Beginning | $ 4 | |
Balance at Beginning (in shares) | 3,935,865 | |
Exercise of Warrants | $ 22,088 | |
Balance at End | $ 4 | $ 4 |
Balance at End (in shares) | 3,957,953 | 3,957,953 |
Additional Paid-In Capital [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at Beginning | $ 32,010 | |
Stock-based compensation related to options granted to employees | 168 | |
Exercise of Warrants | 31 | |
Balance at End | $ 32,209 | 32,209 |
Accumulated Deficit [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at Beginning | (28,382) | |
Net loss | (1,613) | |
Balance at End | (29,995) | (29,995) |
Balance at Beginning | 3,634 | |
Stock-based compensation related to options granted to employees | 168 | |
Exercise of Warrants | 31 | |
Net loss | (824) | (1,613) |
Balance at End | $ 2,220 | $ 2,220 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Loss | $ (1,613) | $ (1,725) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 3 | 5 |
Stock-based compensation | 168 | 536 |
Benefit component of Promissory Notes | 320 | |
Revaluation of warrants to purchase Common stock | (131) | |
Decrease (increase) in trade receivables | (46) | 3 |
Increase in prepaid expenses and other accounts receivable | (104) | (110) |
Decrease (increase) in inventories | (2) | (15) |
Increase (decrease) in trade payables | (92) | 141 |
Increase in other accounts payable | (194) | 48 |
Increase in accrued severance pay, net | 8 | 9 |
Net cash used in operating activities | (1,871) | (919) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (5) | (2) |
Net cash used in investing activities | (5) | (2) |
Cash flows from financing activities: | ||
Proceeds from issuance of Convertible Promissory Notes and warrants | 1,030 | |
Proceeds from exercise of warrants | 31 | |
Net cash provided by financing activities | 31 | 1,030 |
Increase (decrease) in cash and cash equivalents | (1,845) | 109 |
Cash and cash equivalents at the beginning of the period | 4,360 | 106 |
Cash and cash equivalents at the end of the period | 2,515 | 215 |
Supplemental information and disclosure of non-cash financing transactions: | ||
Carve out of warrants fair value from Convertible Promissory Notes | $ 637 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BASIS OF PRESENTATION | NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION Organization NanoVibronix, Inc. (“the Company”), a U.S. (Delaware) corporation, commenced operations on October 20, 2003 and is a medical device company focusing on noninvasive biological response-activating devices that target wound healing and pain therapy and can be administered at home, without the assistance of medical professionals. The Company’s principal research and development activities are conducted in Israel through its wholly-owned subsidiary, NanoVibronix (Israel 2003) Ltd., a company registered in Israel, which commenced operations in October 2003. Basis of Presentation and Principles of Consolidation The Company’s unaudited consolidated financial statements are prepared in accordance with generally accepted accounting principals and with instructions to Form 10-Q and Regulation S-X. The unaudited consolidated financial statements include the accounts of all subsidiaries in which the Company holds a controlling financial interest as of the financial statement date. The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The terms “we,” “us,” “our,” and the “Company” refer to NanoVibronix, Inc. and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Unaudited Interim Financial information In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the financial position and results of operations of the Company. These consolidated financial statements and notes thereto are unaudited and should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2017, as found in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2018. The balance sheet for December 31, 2017 was derived from the Company’s audited financial statements for the year ended December 31, 2017. The results of operations for the three and six months ended June 30, 2018 are not necessarily indicative of results that could be expected for the entire fiscal year. |
LIQUIDITY, FINANCIAL CONDITION
LIQUIDITY, FINANCIAL CONDITION AND MANAGEMENT PLANS | 6 Months Ended |
Jun. 30, 2018 | |
Liquidity Financial Condition And Management Plans | |
LIQUIDITY, FINANCIAL CONDITION AND MANAGEMENT PLANS | NOTE 2:- LIQUIDITY, FINANCIAL CONDITION AND MANAGEMENT PLANS The Company’s ability to continue to operate is dependent mainly on its ability to successfully market and sell its products and the receipt of additional financing until profitability is achieved. The Company currently and historically incurs losses from operations and expects to do so in the future. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3:- SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2017 are applied consistently in these financial statements. |
RECENTLY ADPOTED AND ISSUED ACC
RECENTLY ADPOTED AND ISSUED ACCOUNTING STANDARD | 6 Months Ended |
Jun. 30, 2018 | |
Recently Adpoted And Issued Accounting Standard | |
RECENTLY ADPOTED AND ISSUED ACCOUNTING STANDARD | NOTE 4:- RECENTLY ADPOTED AND ISSUED ACCOUNTING STANDARD Recently adopted accounting standards: In May 2014, the Financial Accounting Standards Board (FASB), issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASC 606) Revenue Recognition Generally the Company considers all revenues as arising from contracts with customers. Revenue is recognized based on the five step process outlined in ASC606: Step 1 – Identify the Contract with the Customer Step 2 – Identify Performance Obligations in the Contract Step 3 – Determine the Transaction Price Step 4 – Allocate the Transaction Price Step 5 – Satisfaction of the Performance Obligations (and Recognize Revenue) – When an asset is transferred and the customer obtains control of the asset (or the services are rendered), the Company recognizes revenue. At contract inception, the Company determines if each performance obligation is satisfied at a point in time or over time. For device sales, revenue is recognized at a point in time when the goods are transferred to the customer and they obtain control of the asset. For maintenance contracts, revenue is recognized over time as the performance obligations in the contracts are completed. Product sales The Company sells its products through distributors and directly to patients. Under ASC 606, revenue from product sales is recognized at the point in time when the delivery is made and when title and risk of loss transfers to these customers. Prior to recognizing revenue, the Company makes estimates of the transaction price, including variable consideration for customer rights of return using an expected value method. Amounts of variable consideration are included in the transaction price to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Product sales are recorded net of estimated product returns and other deductions. In May 2017 the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting Recently issued accounting standards In February 2016, the FASB issued ASU 201602, Leases (Topic 842). ASU 201602 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right of use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Public business entities should apply the amendments in ASU 201602 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all public business entities and all nonpublic business entities upon issuance. We are currently evaluating the impact of our pending adoption of ASU 201602 on our consolidated financial statements. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended |
Jun. 30, 2018 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 5:- STOCKHOLDERS’ EQUITY (in thousands) Share based compensation During the six-month period ended June 30, 2018 and 2017, the Company recorded share-based compensation in a total amount of $168 and $536, respectively. During the three-month period ended June 30, 2018 and 2017, the Company recorded share-based compensation in a total amount of $59 and $185, respectively. As of June 30, 2018, the total unrecognized estimated compensation cost related to non-vested stock options granted prior to that date was $560, which is expected to be recognized over a weighted average period of approximately 2.3 years. Warrant activity During the six and three month period ended June 30, 2018 the Company received $31 on the exercise of Warrants for 22,088 shares. |
COMMITMENTS AND CONTINGENT LIAB
COMMITMENTS AND CONTINGENT LIABILITIES | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENT LIABILITIES | NOTE 6:- COMMITMENTS AND CONTINGENT LIABILITIES (in thousands) The Company currently leases its office facilities on a three year lease with the right to cancel the lease with 90 days advance notice. Future minimum lease commitments under non-cancelable operating lease agreements as of June 30, 2018 are as follows: Six months ending December 31, Operating leases 2018 $ 14 Total $ 14 Rent and related expenses were $10 and $13 for the six months ended June 30, 2018 and 2017, and $3 and $7 for the three months ended June 30, 2018 and 2017 respectively. |
LOSS PER SHARE
LOSS PER SHARE | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
LOSS PER SHARE | NOTE 7:- LOSS PER SHARE All outstanding share options and warrants for the six months ended June 30, 2018 and 2017 have been excluded from the calculation of the diluted net loss per share because all such securities are anti-dilutive for all periods presented. The following table summarizes the Company’s securities, in common share equivalents, which have been excluded from the calculation of dilutive loss per share as their effect would be anti-dilutive: June 30, June 30, 2017 Series D Preferred Shares 303,782 — Stock Options 503,345 590,149 Warrants 258,372 803,606 Total 1,065,499 1,393,755 |
GEOGRAPHIC INFORMATION AND MAJO
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA | NOTE 8:- GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA Summary information about geographic areas: The Company manages its business on the basis of one reportable segment, and derives revenues from selling its products directly to patients as well as through distributor agreements. The following is a summary of revenues within geographic areas: Six months ended June 30, Three months ended June 30, 2018 2017 2018 2017 United States $ 100 $ 40 $ 33 $ 19 Europe 45 29 42 13 Israel 38 1 34 1 India 3 8 - 5 Canada 21 21 - 21 - Rest of the world 2 26 2 14 $ 209 $ 104 $ 132 $ 52 During the six and three month period ended June 30, 2018, revenues from distributors accounted for 49% and 73% of total revenues. During the six and three month period ended June 30, 2017, revenues from distributors accounted for 36% and 37% of total revenues. The Company’s long-lived assets are all located in Israel. |
SUBSEQUENT EVENTS AND RELEATED
SUBSEQUENT EVENTS AND RELEATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2018 | |
Subsequent Events And Releated Party Transactions | |
SUBSEQUENT EVENTS AND RELEATED PARTY TRANSACTIONS | NOTE 9:- SUBSEQUENT EVENTS AND RELEATED PARTY TRANSACTIONS The Company evaluates events or transactions that occur after the balance sheet date but prior to the issuance of financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. For its interim consolidated financial statements as of June 30, 2018 (unaudited) and for the six months period then ended (unaudited), the Company evaluated subsequent events through August 14, 2018 the date that the consolidated financial statements were issued. On July 4, 2018, Jona Zumeris, Vice President of Technology and member of the board of directors of NanoVibronix, Inc. and the Company’s subsidiary, submitted his resignation as a member of the board of directors and all positions from the Company and the Company’s subsidiary, effective as of July 4, 2018. Dr. Zumeris’s resignation was not in connection with any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, or any other matter. On July 4, 2018, the Company and Dr. Zumeris and his wife, Janina (Ina) Zumeris entered into a Separation and Release Agreement (the “Separation Agreement”), providing that Dr. Zumeris shall resign from all positions at the Company and the Company’s subsidiary, effective as of the execution of the Separation Agreement and that Dr. Zumeris and Janina Zumeris will cooperate with the Company and its officers on meeting certain technical and administrative milestones during the transition period ending 60 days following the date of the Separation Agreement (the “Termination Date”). If Dr. Zumeris and Janina Zumeris have met such milestones to the satisfaction of the Company and fulfilled other obligations under the Separation Agreement, (i) Dr. Zumeris and Janina Zumeris, will be entitled to receive as consulting payments an aggregate of NIS 65,000 per month for 12 months, commencing 30 days after the Termination Date; (ii) the Company’s management, beginning on November 4, 2018, will use its best efforts to allow the sale of the Company’s securities owned by Dr. Zumeris, provided that such sale would be in compliance with the applicable U.S. securities laws and regulations, and provided further, that, if the Company’s shares of common stock held by Dr. Zumeris had not been sold at a price lower than $4.45 during the fourteen month period from July 4, 2018, and the value of the unsold securities Dr. Zumeris owns plus the value of cash received by Dr. Zumeris from the sale of the Company’s securities during such fourteen month period (the “Aggregate Amount”), in aggregate, is less than $950,000, then the Company will make up the difference between $950,000 and the Aggregate Amount by extending the term of engagement of Dr. Zumeris and Janina Zumeris’s consulting services and paying the consulting payments of NIS 65,000 per month. In addition, if the Company (i) grants a license for the skin rejuvenation technology, then the Company will pay Dr. Zumeris 10% from the payments received by the Company until an aggregate amount of $100,000 has been paid to Dr. Zumeris, (ii) sells the skin rejuvenation technology and/or the rights to such as a standalone product, the Company will pay Dr. Zumeris $100,000 from the proceeds of such sale, or (iii) sells the skin rejuvenation devices, the Company will pay Dr. Zumeris $5 per unit an aggregate amount of $100,000 has been paid to Dr. Zumeris. In exchange for the consideration described above, Dr. Zumeris and Janina Zumeris agreed that, among other things, subject to the payments described above, Dr. Zumeris and Janina Zumeris will not have in the future any demands or claims for payment of salary or compensation of any kind against the Company. The Separation Agreement contains releases of any and all claims against the Company and restrictive covenants regarding intellectual property, non-disparagement, non-disclosure, non-compete and non-solicitation customary in executive separation agreements. |
COMMITMENTS AND CONTINGENT LI16
COMMITMENTS AND CONTINGENT LIABILITIES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Commitments And Contingent Liabilities | |
Operating lease agreements | Future minimum lease commitments under non-cancelable operating lease agreements as of June 30, 2018 are as follows: Six months ending December 31, Operating leases 2018 $ 14 Total $ 14 Rent and related expenses were $10 and $13 for the six months ended June 30, 2018 and 2017, and $3 and $7 for the three months ended June 30, 2018 and 2017 respectively. |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of dilutive loss per share | The following table summarizes the Company’s securities, in common share equivalents, which have been excluded from the calculation of dilutive loss per share as their effect would be anti-dilutive: June 30, 2018 June 30, 2017 Series D Preferred Shares 303,782 — Stock Options 503,345 590,149 Warrants 258,372 803,606 Total 1,065,499 1,393,755 |
GEOGRAPHIC INFORMATION AND MA18
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Schedule of revenues within geographic areas | The Company manages its business on the basis of one reportable segment, and derives revenues from selling its products directly to patients as well as through distributor agreements. The following is a summary of revenues within geographic areas: Six months ended June 30, Three months ended June 30, 2018 2017 2018 2017 United States $ 100 $ 40 $ 33 $ 19 Europe 45 29 42 13 Israel 38 1 34 1 India 3 8 - 5 Canada 21 21 - 21 - Rest of the world 2 26 2 14 $ 209 $ 104 $ 132 $ 52 |
STOCKHOLDERS' EQUITY (Details N
STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Class of Stock [Line Items] | ||||
Options weighted average exercise price | $ 22,088 | $ 22,088 | ||
Share-based compensation | $ 168 | $ 536 | $ 168 | $ 536 |
Employee Stock Option [Member] | ||||
Class of Stock [Line Items] | ||||
Non-vested stock options granted | $ 560 | $ 560 | ||
Non-vested stock options granted weighted average period | 2 years 3 months 18 days | |||
Options weighted average exercise price | $ 31 | $ 31 |
COMMITMENTS AND CONTINGENT LI20
COMMITMENTS AND CONTINGENT LIABILITIES (Details) $ in Thousands | Jun. 30, 2018USD ($) |
Future minimum lease commitments | |
2,018 | $ 14 |
Total | $ 14 |
COMMITMENTS AND CONTINGENT LI21
COMMITMENTS AND CONTINGENT LIABILITIES (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | ||||
Rent and related expenses | $ 3 | $ 7 | $ 10 | $ 13 |
LOSS PER SHARE (Details)
LOSS PER SHARE (Details) - shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 1,065,499 | 1,393,755 |
Preferred D Stocks [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 303,782 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 503,345 | 590,149 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 258,372 | 803,606 |
GEOGRAPHIC INFORMATION AND MA23
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | $ 132 | $ 52 | $ 209 | $ 104 |
United States | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 33 | 19 | 100 | 40 |
Europe | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 42 | 13 | 45 | 29 |
Israel | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 34 | 1 | 38 | 1 |
India | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 5 | 3 | 8 | |
Canada 21 | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 21 | 21 | ||
Rest of World [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | $ 2 | $ 14 | $ 2 | $ 26 |
GEOGRAPHIC INFORMATION AND MA24
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Details Narrative) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Percentage of revenues from distributors | 73.00% | 37.00% | 49.00% | 36.00% |
SUBSEQUENT EVENTS AND RELEATE25
SUBSEQUENT EVENTS AND RELEATED PARTY TRANSACTIONS (Details Narrative) $ / shares in Units, ₪ in Thousands, $ in Thousands | Jul. 04, 2018USD ($)$ / shares | Jul. 04, 2018ILS (₪) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) |
Subsequent Event [Line Items] | ||||
Value of cash received | $ 1,030 | |||
Subsequent Event [Member] | Separation and Release Agreement [Member] | Dr. Zumeris and Janina Zumeris [Member] | Israel, New Shekels | ||||
Subsequent Event [Line Items] | ||||
Consulting payments | ₪ | ₪ 65 | |||
Shares issued price per share (in dollars per share) | $ / shares | $ 4.45 | |||
Value of cash received | $ 950,000 | |||
Description of payment term | In addition, if the Company (i) grants a license for the skin rejuvenation technology, then the Company will pay Dr. Zumeris 10% from the payments received by the Company until an aggregate amount of $100,000 has been paid to Dr. Zumeris, (ii) sells the skin rejuvenation technology and/or the rights to such as a standalone product, the Company will pay Dr. Zumeris $100,000 from the proceeds of such sale, or (iii) sells the skin rejuvenation devices, the Company will pay Dr. Zumeris $5 per unit an aggregate amount of $100,000 has been paid to Dr. Zumeris. | In addition, if the Company (i) grants a license for the skin rejuvenation technology, then the Company will pay Dr. Zumeris 10% from the payments received by the Company until an aggregate amount of $100,000 has been paid to Dr. Zumeris, (ii) sells the skin rejuvenation technology and/or the rights to such as a standalone product, the Company will pay Dr. Zumeris $100,000 from the proceeds of such sale, or (iii) sells the skin rejuvenation devices, the Company will pay Dr. Zumeris $5 per unit an aggregate amount of $100,000 has been paid to Dr. Zumeris. |