NanoVibronix (NAOV) 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 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	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity's Reporting Status Current	Yes
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Common Stock, Shares Outstanding		4,003,535
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash		$ 1,727	$ 4,360
Trade receivables		70	24
Inventories		134	76
Prepaid expenses and other accounts receivable		130	56
Total current assets		2,061	4,516
NON-CURRENT ASSETS:
Long-term prepaid expense		4	5
Severance pay fund		350	338
Property and equipment, net		10	6
Total non-current assets		364	349
Total assets		2,425	4,865
CURRENT LIABILITIES:
Trade payables		143	168
Other accounts payable		439	629
Total current liabilities		582	797
LONG-TERM LIABILITIES:
Accrued severance pay		457	434
Total liabilities		1,039	1,231
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY:
Stock capital - Common stock of $ 0.001 par value - Authorized: 20,000,000 shares at September 30, 2018 and December 31, 2017; Issued and outstanding: 3,967,060 at September 30, 2018 and 3,935,865 at December 31, 2017, respectively.		4	4
Additional paid-in capital		32,719	32,010
Accumulated deficit		(31,339)	(28,382)
Total stockholders' equity		1,386	3,634
Total liabilities and stockholders' equity		2,425	4,865
Series C Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Stock capital - Preferred stock		2	2
Series D Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Stock capital - Preferred stock	[1]
[1]	Represents an amount lower than $ 1.

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 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	3,967,060	3,935,865
Common stock, outstanding	3,967,060	3,935,865
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
Series D Preferred Stock [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

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenues	$ 54	$ 65	$ 264	$ 169
Cost of goods sold	46	22	123	56
Gross profit	8	43	141	113
Operating expenses:
Research and development	121	160	408	474
Selling and marketing	345	109	871	309
General and administrative	868	387	1,802	1,404
Total operating expenses	1,334	656	3,084	2,187
Operating loss	(1,326)	(613)	(2,940)	(2,074)
Financial income (expense), net	(7)	(975)	16	(1,217)
Loss before taxes on income	(1,333)	(1,588)	(2,924)	(3,291)
Taxes on income	11	11	33	33
Net Loss	(1,344)	(1,599)	(2,957)	(3,324)
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	$ (1,344)	$ (1,599)	$ (2,957)	$ (4,165)
Common stock and Preferred C stock basic and diluted loss per share	$ (0.21)	$ (0.35)	$ (0.46)	$ (0.91)
Weighted average number of shares of Common stock and Preferred C stock used in computing basic and diluted loss per share	6,438,308	4,583,971	6,433,239	4,583,971

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIENCY (Unaudited) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Preferred C stocks [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at Beginning		$ 2
Balance at Beginning (in shares)		2,483,142
Stock-based compensation related to options granted to employees
Balance at End	$ 2	$ 2
Balance at End (in shares)	2,483,142	2,483,142
Preferred D stocks [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at Beginning		$ 0
Balance at Beginning (in shares)		304
Stock-based compensation related to options granted to employees
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
Stock-based compensation related to options granted to employees
Exercise of Warrants		31,195
Net loss
Balance at End	$ 4	$ 4
Balance at End (in shares)	3,967,060	3,967,060
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		666
Exercise of Warrants		43
Net loss
Balance at End	$ 32,719	32,719
Accumulated deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at Beginning		(28,382)
Stock-based compensation related to options granted to employees
Net loss		(2,957)
Balance at End	(31,339)	(31,339)
Balance at Beginning		3,634
Stock-based compensation related to options granted to employees		666
Exercise of Warrants		43
Net loss	(1,344)	(2,957)
Balance at End	$ 1,386	$ 1,386

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net loss	$ (2,957)	$ (3,324)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	4	6
Stock-based compensation	666	683
Benefit component of Promissory Notes		865
Revaluation of warrants to purchase Common stock		293
Decrease (increase) in trade receivables	(46)	(23)
Increase in prepaid expenses and other accounts receivable	(73)	(255)
Decrease (increase) in inventories	(58)	(24)
Decrease (increase) in other assets	(13)
Increase (decrease) in trade payables	(25)	275
Increase (decrease) in other accounts payable	(190)	93
Increase in accrued severance pay, net	23	9
Net cash used in operating activities	(2,669)	(1,402)
Cash flows from investing activities:
Purchase of property and equipment	(8)	(2)
Net cash used in investing activities	(8)	(2)
Cash flows from financing activities:
Proceeds from issuance of Convertible Promissory Notes and warrants		1,380
Proceeds from exercise of warrants	44
Net cash provided by financing activities	44	1,380
Increase (decrease) in cash and cash equivalents	(2,633)	(24)
Cash and cash equivalents at the beginning of the period	4,360	106
Cash and cash equivalents at the end of the period	1,727	82
Supplemental information and disclosure of non-cash financing transactions:
Carve out of warrants' fair value from Convertible Promissory Notes		$ 852

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 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 principles 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 nine months ended September 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	9 Months Ended
	Sep. 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 incurs and historically has incurred losses from operations and expects to do so in the foreseeable future.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 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 ADOPTED AND ISSUED ACC

RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARD	9 Months Ended
	Sep. 30, 2018
Recently Adpoted And Issued Accounting Standard
RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARD	NOTE 4:- RECENTLY ADOPTED 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) SEC Disclosure Update and Simplification In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule became effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed consolidated financial statements. 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 continuing to evaluate the impact of our pending adoption of ASU 201602 on our consolidated financial statements.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 5:- STOCKHOLDERS’ EQUITY (in thousands) Share based compensation During the nine-month period ended September 30, 2018 and 2017, the Company recorded share-based compensation in a total amount of $666 and $683, respectively. During the three-month period ended September 30, 2018 and 2017, the Company recorded share-based compensation in a total amount of $498 and $147, respectively. As of September 30, 2018, the total unrecognized estimated compensation cost related to non-vested stock options granted prior to that date was $798, which is expected to be recognized over a weighted average period of approximately 1.3 years. Warrant activity During the nine and three month period ended September 30, 2018 the Company received $43 and $12, respectively, on the exercise of seven-year warrants (the “Warrants”) issued in a series of bridge financings from March 2017 through September 2017, for 31,195 shares.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 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 September 30, 2018 are as follows: Nine months ending December 31, Operating leases 2018 $ 14 Total $ 14 Rent and related expenses were $22 and $20 for the nine months ended September 30, 2018 and 2017, and $12 and $7 for the three months ended September 30, 2018 and 2017 respectively.

LOSS PER SHARE

LOSS PER SHARE	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
LOSS PER SHARE	NOTE 7:- LOSS PER SHARE All outstanding share options and warrants for the nine months ended September 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: September 30, September 30, Series D Preferred Shares 303,782 — Stock Options 491,841 667,222 Warrants 258,372 924,268 Total 1,053,995 1,591,490

GEOGRAPHIC INFORMATION AND MAJO

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA	9 Months Ended
	Sep. 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: Nine months ended September 30, Three months ended September 30, 2018 2017 2018 2017 United States $ 129 $ 63 $ 28 $ 23 Europe 61 58 16 29 Israel 41 4 3 3 India 3 10 — 2 Canada 21 — — — Rest of the world 9 34 7 8 $ 264 $ 169 $ 54 $ 65 During the nine and three month periods ended September 30, 2018, revenues from distributors accounted for 52% and 64% of total revenues, respectively. During the nine and three month periods ended September 30, 2017, revenues from distributors accounted for 42% and 52% of total revenues, respectively. The Company’s long-lived assets are all located in Israel.

RELEATED PARTY TRANSACTIONS AND

RELEATED PARTY TRANSACTIONS AND STOCK PRICE GUARANTEE	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
RELEATED PARTY TRANSACTIONS AND STOCK PRICE GUARANTEE	NOTE 9:- RELEATED PARTY TRANSACTIONS AND STOCK PRICE GUARANTEE 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 approximately $18,000 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. 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 connection with the Company’s agreement with Dr. Zumeris, the Company will evaluate if any liability should be accrued for each reporting period. As of September 30, 2018, Dr. Zumeris did not exercise any options or sell any shares of the Company’s stock and was the owner of 68,879 shares with options to purchase an additional 152,096 shares of stock of which 121,096 have an exercise price of $0.07 per share, and 61,000 have an exercise price of $2.57 per share. Being that the Company’s shares were trading in excess of $4.45, there was no liability that was included in accrued expenses in the consolidated balance sheets.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10: SUBSEQUENT EVENTS None

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Operating lease agreements	Future minimum lease commitments under non-cancelable operating lease agreements as of September 30, 2018 are as follows: Nine months ending December 31, Operating leases 2018 $ 14 Total $ 14 Rent and related expenses were $33 and $20 for the nine months ended September 30, 2018 and 2017, and $19 and $7 for the three months ended September 30, 2018 and 2017 respectively.

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	9 Months Ended
	Sep. 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: September 30, September 30, Series D Preferred Shares 303,782 — Stock Options 491,841 667,222 Warrants 258,372 924,268 Total 1,053,995 1,591,490

GEOGRAPHIC INFORMATION AND MA_2

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Tables)	9 Months Ended
	Sep. 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: Nine months ended September 30, Three months ended September 30, 2018 2017 2018 2017 United States $ 129 $ 63 $ 28 $ 23 Europe 61 58 16 29 Israel 41 4 3 3 India 3 10 — 2 Canada 21 — — — Rest of the world 9 34 7 8 $ 264 $ 169 $ 54 $ 65

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Class of Stock [Line Items]
Share-based compensation	$ 498	$ 147		$ 666	$ 683
Warrant [Member]
Class of Stock [Line Items]
Number of warrant issued	31,195			31,195
Employee Stock Option [Member]
Class of Stock [Line Items]
Non-vested stock options granted	$ 798			$ 798
Non-vested stock options granted weighted average period				1 year 3 months 18 days
Options weighted average exercise price	$ 12			$ 43
Employee Stock Option [Member] | Bridge Financings [Member] | Warrant [Member]
Class of Stock [Line Items]
Number of warrant issued			31,195
Warrant term			7 years

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES (Details) $ in Thousands	Sep. 30, 2018USD ($)
Future minimum lease commitments
2,018	$ 14
Total	$ 14

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Rent and related expenses	$ 12	$ 7	$ 22	$ 20

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) - shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,053,995	1,591,490
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	491,841	667,222
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	258,372	924,268

GEOGRAPHIC INFORMATION AND MA_3

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 54	$ 65	$ 264	$ 169
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	28	23	129	63
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	16	29	61	58
Israel
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3	3	41	4
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues		2	3	10
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues			21
Rest of World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 7	$ 8	$ 9	$ 34

GEOGRAPHIC INFORMATION AND MA_4

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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	64.00%	52.00%	52.00%	42.00%

RELEATED PARTY TRANSACTIONS A_2

RELEATED PARTY TRANSACTIONS AND STOCK PRICE GUARANTEE (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jul. 04, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Value of cash received			$ 1,380
Number of shares outstanding		3,967,060		3,935,865
Separation and Release Agreement [Member] | Dr. Zumeris and Janina Zumeris [Member]
Related Party Transaction [Line Items]
Consulting payments	$ 18
Shares issued price per share (in dollars per share)	$ 4.45
Value of cash received	$ 950,000
Description of payment term	<font style="font: 10pt Times New Roman, Times, Serif">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.</font></p>" id="sjs-B10">&lt;p style="margin-top: 0pt; margin-bottom: 0pt">&lt;font style="font: 10pt Times New Roman, Times, Serif">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.&lt;/font>&lt;/p>
Number of shares outstanding		68,879
Additional shares issued		152,096
Exercised shares		121,096
Exercise price (in dollars per share)		$ 0.07
Separation and Release Agreement [Member] | Dr. Zumeris and Janina Zumeris [Member]
Related Party Transaction [Line Items]
Exercised shares		61,000
Exercise price (in dollars per share)		$ 2.57