OWC Pharmaceutical Research (OWCP) 10-K/A 6 Oct 17 2016 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	OWC Pharmaceutical Research Corp.
Entity Central Index Key	1,431,934
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	true
Amendment Description	Amendment #2
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 1,020,446
Entity Common Stock, Shares Outstanding		144,719,287
Trading Symbol	OWCP
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 472,282	$ 357,161
Other current assets (Note 3)	9,413	50,388
Total current assets	481,695	407,549
Property and equipment (Note 4)	15,073	22,899
Total Assets	496,768	430,448
Current liabilities:
Accounts payable	7,694	28,125
Other current liabilities	38,086	29,501
Deferred revenues (Note 7A1)	100,000	50,000
Total current liabilities	145,780	107,626
Non-recourse loan (Note 6)	250,000
Total liabilities	395,780	107,626
Commitments and Contingencies (Note 7)
Stockholders' Equity (Note 8):
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; no shares issued and outstanding; Common stock, $0.00001 par value; 500,000,000 authorized:
139,447,782 and 81,460,875 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively	1,395	815
Additional paid-in capital	11,036,751	8,533,525
Services receivable	(455,283)
Common stock subscriptions receivable	(651,730)	(651,730)
Accumulated deficit	(9,836,195)	(7,548,866)
Accumulated other comprehensive income (loss)	6,050	(10,922)
Total stockholders' equity	100,988	322,822
Total Liabilities and Stockholders' Equity	$ 496,768	$ 430,448

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	139,447,782	81,460,875
Common stock, shares outstanding	139,447,782	81,460,875

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenue (Note 7A1)	$ 50,000
Operating expenses:
Research and development	(141,858)	(271,394)
General and administrative (Note 9)	(2,006,216)	(1,380,029)
Total operating expenses	(2,148,074)	(1,651,423)
Operating loss	(2,098,074)	(1,651,423)
Financing expenses, net (Note 10)	(189,255)	(3,565)
Net loss	(2,287,329)	(1,654,988)
Other comprehensive income (loss):
Foreign currency translation adjustment	16,972	(17,407)
Comprehensive loss	$ (2,270,357)	$ (1,672,395)
Basic and diluted per share amounts (Note 12): Basic and diluted net loss	$ (0.02)	$ (0.02)
Weighted average shares outstanding (basic and diluted)	96,362,150	80,591,237

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Subscription Receivable [Member]	Accumulated Deficit [Member]	Services Receivable [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2014	$ 784	$ 8,000,847	$ (651,730)	$ 5,893,878		$ 6,485	$ 1,462,508
Balance, shares at Dec. 31, 2014	78,429,273
Stock based compensation	$ 17	371,192					371,209
Stock based compensation, Shares	1,614,935
Stock issued for cash at $0.05	$ 8	39,992					40,000
Stock issued for cash at $0.05, Shares	800,000
Stock issued for cash at $0.15 together with detachable warrants	$ 3	49,997					50,000
Stock issued for cash at $0.15 together with detachable warrants, Shares	333,333
Stock issued for cash at $0.12 together with detachable warrants	$ 3	33,997					34,000
Stock issued for cash at $0.12 together with detachable warrants, Shares	283,334
Amortization of services receivable (see Note 2I)
Beneficial conversion feature (Note 8D)		37,500					37,500
Foreign currency translation adjustment						(17,407)	(17,407)
Net loss				(1,654,988)			(1,654,988)
Balance at Dec. 31, 2015	$ 815	8,533,525	(651,730)	(7,548,866)		(10,922)	322,822
Balance, shares at Dec. 31, 2015	81,460,875
Stock based compensation	$ 1	1,440,682					1,440,683
Stock based compensation, Shares	100,000
Stock issued upon conversion of debt and accrued interest	$ 539	123,127					123,666
Stock issued upon conversion of debt and accrued interest, shares	53,844,599
Stock issued for cash at $0.13 together with detachable warrants	$ 25	324,975					325,000
Stock issued for cash at $0.13 together with detachable warrants, Shares	2,500,000
Reclassification of embedded derivative liabilities upon conversion of convertible loans host		130,998					130,998
Financial instruments issued for services to be received	$ 15	483,444			(483,459)
Financial instruments issued for services to be received, Shares	1,542,308
Amortization of services receivable (see Note 2I)					28,176		28,176
Foreign currency translation adjustment						16,972	16,972
Net loss				(2,287,329)			(2,287,329)
Balance at Dec. 31, 2016	$ 1,395	$ 11,036,751	$ (651,730)	$ (9,836,195)	$ (455,283)	$ 6,050	$ 100,988
Balance, shares at Dec. 31, 2016	139,447,782

Consolidated Statements of Sto6

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Cash one, share per price value		$ 0.05
Cash with detachable warrants one, share per price value		0.15
Cash with detachable warrants two, share per price value		$ 0.12
Cash with detachable warrants three, share per price value	$ 0.13

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (2,287,329)	$ (1,654,988)
Adjustments to reconcile net loss to net cash used by operating activities:
Exchange differences on principal of long term loan	16,972
Adjustments of convertible loans	180,340	3,074
Depreciation expense	9,686	9,123
Amortization of services receivable	28,176
Stock based compensation	1,440,683	371,209
Changes in assets and liabilities:
Increase in accounts receivable		(11,796)
Decrease in other assets	40,975	23,000
Increase (decrease) in accounts payable	(20,431)	11,604
Increase in deferred revenues	50,000	50,000
Increase (decrease) in other liabilities	11,659	(17,355)
Cash used by operating activities	(529,269)	(1,216,130)
Cash flows from investing activities:
Purchase of equipment	(1,860)	(2,569)
Cash used in investing activities	(1,860)	(2,569)
Cash flows from financing activities:
Proceeds from issuance of common stock and warrants	325,000	124,000
Proceeds of debt borrowings, net of related expenses	321,250
Cash provided by financing activities	646,250	124,000
Net increase (decrease) in cash and cash equivalents	115,121	(1,112,106)
Balance of cash and cash equivalents at beginning of period	357,161	1,469,267
Balance of cash and cash equivalents at end of period	472,282	357,161
Supplementary information on financing activities not involving cash flows:
Derivative liability converted to additional paid-in capital	130,998
Debt and accrued interest converted to equity	$ 123,666

General

General	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
General	NOTE 1 – GENERAL A. Organizational Background OWC Pharmaceutical Research Corp. (“OWCP” or the “Company”) is a Delaware corporation and was incorporated under the laws of the State of Delaware on March 7, 2008. The Company is a medical cannabis research and development company that applies conventional pharmaceutical research protocols and disciplines to the field of medical cannabis with the objective of establishing a leadership position in the research and development of medical cannabis therapies, products and delivery technologies. The Company is currently engaged in the research and development of cannabis-based medical products (the “Product Prospects”) for the treatment of multiple myeloma, psoriasis and fibromyalgia as well as development of a cannabis soluble tablet delivery system that may have applications for other indications. The Company also provides consulting services to governmental and private entities to assist them with developing and implementing tailor-made comprehensive medical cannabis programs. The accompanying consolidated financial statements of OWCP and its wholly owned subsidiary One World Cannabis, Ltd. (“OWC” or the “Israeli subsidiary”) were prepared from the accounts of the Company under the accrual basis of accounting. B. Liquidity and going concern uncertainty The development and commercialization of the Company’s product is expected to require substantial expenditures. The Company has not yet generated material revenues from operations, and therefore is dependent upon external sources for financing its operations. As of December 31, 2016, the Company has an accumulated deficit of $9,836,195, and its stockholders’ equity is $100,988. In addition, in each year since its inception the Company reported losses and negative cash flows from operating activities. Management considered the significance of such conditions in relation to the Company’s ability to meet its current and future obligations and determined that such conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern. Until such time as the Company generates sufficient revenue to fund its operations (if ever), the Company plans to finance its operations through the sale of equity or equity-linked securities and/or debt securities and, to the extent available, short term and long term loans. There can be no assurance that the Company will succeed in obtaining the necessary financing to continue its operations as a going concern. During 2016 and 2015, the Company raised a total amount of approximately $325,000 and $124,000 (net of related expenses), respectively from the issuance of units including Common Stock and warrants (see Note 8). In addition, during 2016 the Company raised funds through issuance of convertible loans and a non recourse loan from Medmar (see Note 6). C. Risk factors As described in the above paragraph, the Company has a limited operating history and faces a number of risks and uncertainties, including risks and uncertainties regarding continuation of the development process, demand and market acceptance of the Company’s products, the effects of technological changes, competition and the development of products by competitors. Additionally, other risk factors also exist, such as the ability to manage growth and the effect of planned expansion of operations on the Company’s future results and the availability of necessary financing. In addition, the Company expects to continue incurring significant operating costs and losses in connection with the development and marketing of its products. The Company has not yet generated material revenues from its operations to fund its activities and therefore is dependent on the receipt of additional funding from its stockholders and/ or new investors in order to continue its operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Basis of Presentation The consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP). B. Principles of Consolidation The financial statements include the accounts of OWC Pharmaceutical Research Corp. and its wholly owned Israeli subsidiary. All significant inter-company balances and transactions have been eliminated. C. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to (i) Stock based compensation (ii) the going concern assumptions. D. Functional currency The functional currency of the Company is the US dollar, which is the currency of the primary economic environment in which it operates. In accordance with ASC 830, “Foreign Currency Matters” (ASC 830), balances denominated in or linked to foreign currency are stated on the basis of the exchange rates prevailing at the applicable balance sheet date. For foreign currency transactions included in the statement of operations, the exchange rates applicable on the relevant transaction dates are used. Gains or losses arising from changes in the exchange rates used in the translation of such transactions are presented within financing income or expenses. Non-U.S. entity operations are recorded in New Israeli Shekels the functional currency of the Israeli subsidiary. Results of operations for non-U.S. dollar functional currency entities are translated into U.S. dollars using average currency rates or actual action date currency rate. Assets and liabilities are translated using currency rates at period end. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity. E. Cash and Cash Equivalents For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents. There were no cash equivalents at December 31, 2016 and 2015. F. Property and Equipment New property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 5 years. Expenditures for renewals and betterments are capitalized. Expenditures for minor items, repairs and maintenance are charged to operations as incurred. Gain or loss upon sale or retirement due to obsolescence is reflected in the operating results in the period the event takes place. G. Impairment of Long-Lived Assets The Company reviews the recoverability of our long-lived assets including property and equipment, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. Our primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations. H. Warrants The Company reviews the terms of all warrants issued and classifies the warrants as a component of permanent equity if they are freestanding financial instruments that are legally detachable and separately exercisable, contingently exercisable, do not embody an obligation for the Company to repurchase its own shares, and permit the holders to receive a fixed number of shares of common stock upon exercise. In addition, the warrants must require physical settlement and may not provide any guarantee of value or return. Warrants that meet these criteria are initially recorded at their grant date fair value and are not subsequently remeasured. Warrants that do not meet this criteria represent a derivative liability and are measured upon initial recognition and remeasured at subsequent reporting periods at their fair value. Changes in the fair value of any liability – classified instruments are recorded in the consolidated statement of operations. I. Stock-Based Compensation The Company accounts for stock-based compensation to employees in accordance with ASC Topic 718, Compensation – Stock Compensation Stock based payments awarded to consultants (non-employees) are accounted for in accordance with ASC Topic 505-50, “ Equity-Based Payments to Non-Employees J. Accounting For Obligations and Instruments Potentially To Be Settled In The Company’s Own Stock The Company accounts for obligations and instruments potentially to be settled in the Company’s stock in accordance with FASB ASC 815, Accounting for Derivative Financial Instruments. This issue addresses the initial balance sheet classification and measurement of contracts that are indexed to, and potentially settled in, the Company’s own stock. K. Fair Value of Financial Instruments ASC 825, “Financial Instruments,” requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between market participants. At December 31, 2016 and December 31, 2015, the carrying value of certain financial instruments (cash and cash equivalents, accounts payable and accrued expenses.) approximates fair value due to the short-term nature of the instruments or interest rates, which are comparable with current rates. L. Fair Value Measurements The Company measures fair value under a framework that utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are: Level 1: Level 2 - Quoted prices for similar assets or liabilities in active markets; - Quoted prices for identical or similar assets or liabilities in inactive markets; - Inputs other than quoted prices that are observable for the asset or liability; - Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3 The assets or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. When the Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of the reporting period that the transfers occur. For the fiscal periods ended December 31, 2016 and December 31, 2015, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As of December 31, 2016 and 2015, no assets or liabilities were required to be measured at fair value on a recurring basis. M. Convertible Loans The Company considers the provisions of ASC Topic 815 - 40, ”Derivatives and Hedging - Contracts in Entity’s Own Equity” When the Company determine that the embedded conversion feature should not be separated from the host instrument because it qualified for equity classification, the Company applies ASC Topic 470 - 20, ”Debt - Debt with Conversion and Other Options N. Earnings per Common Share The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method with respect to options and warrants and convertible loans or preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. O. Liability for employee rights upon retirement The Israeli subsidiary’s liability for employee rights upon retirement with respect to its Israeli employees is calculated pursuant to the Israeli Severance Pay Law, based on the most recent salary of each employee multiplied by the number of years of employment of each such employee as of the balance sheet date. Employees are entitled to one month’s salary for each year of employment, or ratable portion thereof for periods less than one year. The Israeli subsidiary makes monthly deposits to insurance policies and severance pay funds. The deposited funds may be withdrawn upon the fulfillment of the Israeli subsidiary’s severance obligations pursuant to Israeli severance pay laws or labor agreements with its employees. The value of the deposited funds is based on the cash surrender value of these policies, and includes immaterial profits or losses. Severance expenses for the year ended December 31, 2016, and 2015 amounted to $30,000 and $15,000, respectively. P. Income Taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. Accordingly, deferred income taxes are determined utilizing the asset and liability method based on the estimated future tax effects of differences between the financial accounting and the tax bases of assets and liabilities under the applicable tax law. Deferred tax balances are computed using the enacted tax rates expected to be in effect when these differences reverse. Valuation allowances in respect of deferred tax assets are provided for, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. The Company accounts for uncertain tax positions in accordance with ASC Topic 740-10, which prescribes detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise’s financial statements. According to ASC Topic 740-10, tax positions must meet a more-likely-than-not recognition threshold. The Company’s accounting policy is to classify interest and penalties relating to uncertain tax positions under income taxes, however the Company did not recognize such items in its fiscal 2016 and 2015 financial statements and did not recognize any liability with respect to unrecognized tax position in its balance sheet. Q. Revenue Recognition Revenues from consulting services are recognized when the services are rendered or when applicable, if the consideration is non-refundable, upon expiration of the Company’s performance obligation. Deferred revenue includes amounts received with respect to consultation services not yet recognized as revenues. Such revenues are deferred and recognized on a straight-line basis over the service period or when service is provided, as applicable to the contract. R. Research and development expenses Research and development expenses are charged to operations as incurred. S. Concentrations of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash and cash equivalents are deposited with major banks in Israel and the United States of America. Management believes that such financial institutions are financially sound and, accordingly, minimal credit risk exists with respect to these financial instruments. As of December 31, 2016 and 2015 the balances of accounts receivable were not material and accordingly such balances do not represent substantial concentration of credit risk. The Company does not have any significant off-balance-sheet concentration of credit risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements. T. Contingencies The Company records accruals for loss contingencies arising from claims, litigation and other sources when it is probable that a liability has been incurred and the amount can be reasonably estimated. These accruals are adjusted periodically as assessments change or additional information becomes available. Legal costs incurred in connection with loss contingencies are expensed as incurred. U. Reclassifications Certain reclassifications from the prior year presentation have been made to conform to the current year presentation. These reclassifications did not have material impact on the Company’s equity, net assets, results of operations or cash flows. V. Adoption of New Accounting Standards In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The amendments in ASU 2014-15 became effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Accordingly, management applied the guidance of ASU 2014-15 to these financial statements and has determined that there is a substantial doubt about the Company’s ability to continue as a going concern. Certain disclosures were updated to conform to the disclosures required under ASU 2014-15. W. Recently Issued Accounting Standards In May 2014, The FASB issued Accounting Standard Update 2014-09 , Revenue from Contracts with Customers (Topic 606) ASU 2014-09 outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. ASU 2014-09 also requires entities to disclose sufficient information, both quantitative and qualitative, to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. During 2016, the FASB issued several Accounting Standard Updates that focuses on certain implementation issues of the new revenue recognition guidance including Narrow-Scope Improvements and Practical Expedients, Principal versus Agent Considerations and Identifying Performance Obligations and Licensing. An entity should apply the amendments in this ASU using one of the following two methods: 1. Retrospectively to each prior reporting period presented with a possibility to elect certain practical expedients, or, 2. Retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application. If an entity elects the latter transition method, it also should provide certain additional disclosures. For a public entity, the amendments in ASU 2014-09 (including the amendments introduced through recent ASU’s) are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period (the first quarter of fiscal year 2018 for the Company). Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company intends to adopt ASU 2014-09 as of January 1, 2018. The Company is in the process of evaluating the impact of ASU 2014-09 on its revenue streams and selling contracts, if any, and on its financial reporting and disclosures. Management is expecting to complete the evaluation of the impact of the accounting and disclosure changes on the business processes, controls and systems throughout 2017. Since the Company did not report so far, material revenues, management believes that the adoption of ASU 2014-09 will not have significant impact on its financial statements. In November 2015, the FASB has issued Accounting Standards Update (ASU) No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, which changes how deferred taxes are classified on organizations’ balance sheet. The ASU eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, all deferred tax assets and liabilities will be required to be classified as noncurrent. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods (i.e., in the first quarter of 2017 for calendar year-end companies).Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The guidance may be applied either prospectively, for all deferred tax assets and liabilities, or retrospectively (i.e., by reclassifying the comparative balance sheet). If applied prospectively, entities are required to include a statement that prior periods were not retrospectively adjusted. If applied retrospectively, entities are also required to include quantitative information about the effects of the change on prior periods. The Company does not believe this ASU will have a significant impact on its consolidated financial statements. In March 2016, the FASB has issued Accounting Standards Update (ASU) No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments are intended to improve the accounting for employee share-based payments and affect all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The amendments also simplify two areas specific to private companies. For public companies, the amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period periods (i.e., in the first quarter of 2017 for calendar year-end companies). The Company is in the process of assessing the impact, if any, of ASU 2016-09 on its consolidated financial statements.

Other Current Assets

Other Current Assets	12 Months Ended
	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	NOTE 3 – OTHER CURRENT ASSETS US dollars December 31, 2016 2015 Prepaid expenses 1,536 38,591 Others 7,877 11,797 9,413 50,388

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 – PROPERTY AND EQUIPMENT US dollars December 31, 2016 2015 Furniture and office equipment 2,407 2,407 Computers 24,641 24,641 Photography 7,714 7,714 Machinery 1,860 0 36,622 34,762 Less – accumulated depreciation (21,549 ) (11,863 ) 15,073 22,899 During the years ended December 31, 2016 and 2015, depreciation expenses amounted to $9,686 and $9,123, respectively, and new equipment purchases amounted to $1,860 and $2,569, respectively.

Line of Credit

Line of Credit	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Line of Credit	NOTE 5 – LINE OF CREDIT As of December 31, 2016, the Company had an unutilized credit line of approximately $7,500 with its Israeli bank. Borrowings under the line of credit are secured by funds on deposit with the bank at the time of borrowing, which generally must be sufficient to cover the principal amount of the borrowings in full.

Non-Recourse Loan

Non-Recourse Loan	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Non-Recourse Loan	NOTE 6 - NON-RECOURSE LOAN On September 28, 2016 (the “Effective Date”), OWC entered into a non-recourse loan agreement (the “Loan Agreement”) with Medmar LLC (“Medmar”), pursuant to which Medmar has agreed to loan OWC a total of $300,000 (the “Loan”) on a non-interest bearing basis, with no conversion rights. The Loan is due in 36 months from the Effective Date, and repayment shall be made only by the set off of royalties payable by Medmar to OWC as follows: (i) prior to the full repayment of the Loan, which OWC may prepay at any time, if and to the extent Medmar is required to pay any royalties to OWC under a License Agreement dated March 17, 2016 (see Note 7A1), Medmar shall set off such royalties from the outstanding principal balance of the Loan; (ii) OWC shall not be required to pay the Loan other than through the set off from the royalties; and (iii) the Loan is a non-recourse loan, meaning that if and to the extent that the royalties are insufficient for any reason in order to fully repay the Loan, Medmar waived any right and/or claim to any deficiency. In addition, the Loan Agreement also provides that: (i) subject to Medmar funding the entire Loan, Medmar shall receive the exclusive right to manufacture, produce, publicize, promote and market OWC’s Licensed Products (as defined in the above-referenced License Agreement) in any state in the U.S., subject to a new license agreement to be negotiated and signed between the parties with respect to each and every state; (ii) the rights to be granted to Medmar under (i) above shall expire within three (3) years subject to certain conditions and limitations; and (iii) the right of first refusal agreement between the parties that was executed on February 8, 2016 providing Medmar certain rights in connection with the commercialization of Licensed Products in the States of Hawaii and Pennsylvania be terminated (see Note 7A1). As at December 31, 2016, the amount of the loan received by OWC was $250,000 and the balance of $50,000 was received subsequent to balance sheet date. See Note 14B. As the Company does not expect to earn any royalties from Medmar during the 12 months subsequent to the balance sheet date, the entire amount of the loan is presented as a long-term liability as of December 31, 2016.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7 - COMMITMENTS AND CONTINGENCIES A. Commitments 1. On October 11, 2015, OWC entered into a memorandum of understanding with Medmar for the purpose of granting an exclusive, non-transferable, royalty-bearing license, to manufacture, produce, publicize, promote and market the licensed products described therein in the State of Hawaii and the State of Pennsylvania, pursuant to which Medmar has paid OWC $100,000 ($50,000 in each of 2015 and 2016). On February 8, 2016, OWC and Medmar II, an affiliate of Medmar, executed a right of first refusal agreement providing Medmar certain rights in connection with the commercialization of OWC’s Cannabis-Based Medical Products in other states in the USA, pursuant to which Medmar has paid $50,000 to the Company. On March 17, 2016, Medmar and OWC executed a consulting and license agreement pursuant to which OWC granted to Medmar an exclusive, non-transferable, royalty-bearing license, to manufacture, produce, publicize, promote and market certain of OWC’s products (as defined in the license agreement) in the State of Maryland, against payment by Medmar to OWC of a royalty. As part of this agreement, the Company received from Medmar an amount of $50,000 as a non-refundable advance. In 2016, and as OWC does not have any performance obligation in connection with the agreement, OWC recorded revenues in an amount of $50,000. 2. In April 2015 OWC engaged G.C. Group Ltd., an Israeli corporation specializing in pharmaceutical R&D to provide formulation development services for OWC’s new delivery system in the form of a cannabis soluble tablet. G.C. Group Ltd. successfully completed the first phase of development, a proof of concept of the desired end-product (the soluble tablet) to test the fabric, durability, solidification and other features of the cannabis soluble tablet. The agreement was terminated on December 31, 2015. However, OWC plans to continue the development process. OWC started developing other delivery systems, designed for different indications, during the first quarter of 2016. 3. On November 3, 2016, OWC entered into a Joint Venture Memorandum of Understanding with Michepro Holding Ltd. (“EU Partner”), (“JV” or “MOU”). The EU Partner and OWC have agreed as follows: (i) to establish a strategic marketing and distribution alliance (the “JV”) to promote the sale of OWC’s Products in the European Union (the “EU”); (ii) the interest of the parties in the JV shall be held by the parties such that the EU Partner shall hold 25% of such interest and OWC shall hold the remaining 75% of such interest; (iii) OWC shall provide the JV with OWC’s Products for sale and distribution solely in the EU, at prices to be agreed between the parties from time to time; and (iv) EU Partner shall be responsible for the day-to-day management of the JV, at its own costs, and for this purpose shall make available to the JV its knowledge, business connection and personnel, all in order to maximize the sales of OWC’s Products in the EU through the JV. The JV had not commenced operations and did not have any assets or liabilities as of December 31, 2016. 4. On August 6, 2015, OWC signed a Memorandum of Understanding with Emilia Cosmetics Ltd. (“Emilia”), a large Israeli private label manufacturer which operates in the field of development, production, manufacturing and packaging of health and beauty products including for treatment of human skin disease, for the development, manufacture and marketing of a cannabinoid-based topical cream to treat psoriasis. On November 27, 2016, the Company and OWC (the “Group”) entered into a license agreement with Emilia (the “License Agreement”). During the fourth quarter of 2016, the Group completed the development process and then initiated a phase I study at Sheba to explore the safety of the topical cream on psoriasis. Prior to entering into the License Agreement, the Group and Emilia conducted a development and evaluation program (as defined in the License Agreement) for the development of a specific product comprising Emilia’s formulation with certain medical cannabis extract provided by the Group for topical treatment of psoriasis. Pursuant to the License Agreement, Emilia granted a limited license to the Group with respect to Emilia’s licensed intellectual property to be developed and commercialized worldwide in the topical treatment of psoriasis in humans with OWC’s Product. If such trial proves successful, Emilia will grant the Group an exclusive, worldwide, transferable, royalty-bearing license, with the right to grant sublicenses, to use, sell and commercially exploit the Emilia intellectual property, in consideration for which, from and after the first commercial sales of the licensed product, the Group shall pay to Emilia a royalty at the rate of ten percent of net sales during the period beginning upon the first commercial sale and ending ten years thereafter. In the event the sale of the licensed product during the royalty term reaches the minimum sales targets set forth in the License Agreement, the royalty term will be extended for an additional five-year term. 5. On December 29, 2016, OWC entered into a Research Agreement with Medical Research Infrastructure Development and Health Services Fund (“fund”) by Chaim Sheba Medical Center. Pursuant to the Research Agreement, the Fund shall perform a Phase I, double blind, randomized, placebo-controlled, maximal dose study (the “Study”) to determine the safety and tolerability of topical cream containing MGC (“Medical Grade Cannabis” or the “Study Drug”) in healthy volunteers, employing the services of Dr. Aviv Barzilay, Director of the Department of Dermatology- Chaim Sheba Medical Center, Tel Hashomer, Israel, to lead the Study (the “Investigator”). The Study shall be conducted in compliance with the following, as defined in the Research Agreement: (1) the Protocol; (2) the Ministry Guidelines; (3) the instructions and terms specified in the Helsinki Committee’s approval; (4) the ICH-GCP; (5) the Helsinki Declarations; (6) the applicable laws, rules and regulations regulating such studies which are applicable in Israel (the “Applicable Laws”); and (7) written instructions and prescriptions issued by the OWC and governing the administration of the Study Drug. 6. On October 22, 2014, OWC entered into a collaboration agreement with Sheba Academic Medical Center, a hospital in Tel-Aviv, Israel, relating to the use of cannabis to treat Myeloma. Within the framework of this collaboration agreement, OWC currently conducts pre-clinical studies on multiple myeloma, which have commenced in April 2015. Pursuant to the collaboration agreements, OWC was required to pay Sheba $170,000 for conducting the multiple myeloma trial between the 3rd quarter of 2015 and the second quarter of 2016. In addition, OWC commenced pre-clinical studies on the treatment of psoriasis during the second quarter of 2016. Pursuant to the collaboration agreements, OWC are obliged to pay Sheba $85,000 throughout 2017 for conducting the safety study for the cream. OWC currently have the financial resources to fund their current obligations under these agreements, but anticipate that they will require additional funding during the next 12 months for their continuing and planned expanded operations. As of December 31, 2016, OWC has paid $64,389. B. Contingencies On February 28, 2017, the Company filed an action for alleged legal malpractice against the NYC law firm of Sichenzia Ross FerenceKesner LLP and Marc J. Ross, Esq. a partner at Sichenzia Ross in New York State Supreme Court in New York County. Our claims arise out of legal services allegedly negligently performed by Ross and Sichenzia Ross. We brought the action seeking recovery of monetary damages noted above due to the defendants’ alleged failure to exercise a professional standard of care in their representation of OWCP. The action is now in the pleading stages. The Company cannot predict the ultimate outcome of this action.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	NOTE 8 - STOCKHOLDERS’ EQUITY A. Common Stock Holders of shares of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. The holders of common stock do not have cumulative voting rights in the election of directors. Holders of shares of our common stock are entitled to receive dividends when and if declared by our Board out of funds legally available therefor, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock. Upon our dissolution or liquidation or the sale of all or substantially all of our assets, after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the holders of shares of our common stock will be entitled to receive pro rata our remaining assets available for distribution. Holders of shares of our common stock do not have preemptive, subscription, redemption or conversion rights and there are no redemption or sinking fund provisions applicable to tour common stock. B. Stock and Warrants Issued for Cash 1. On August 31, 2015 and September 30, 2015 (“dates of issuance”), the Company received $34,000 through a placement of 283,334 shares of common stock. The shares were sold in units at $0.24 per unit ($0.12 per share). Each unit consisted of two shares of common stock and two warrants to purchase common stock. 141,667 warrants were exercisable at $0.12 and expired 12 months from the dates of issuance. The other 141,667 warrants are exercisable at $0.25 and expire 24 months from the dates of issuance. The relative fair value of the attached to the common stock component is $18,672 and the relative fair value of the warrants is $15,328 as of the grant date. Such warrants were classified within stockholders’ equity. For purposes of discussions that follow, the term “restricted shares of common stock” means that the shares of common stock were not issued under an effective registration statement that has been filed with the Securities and Exchange Commission. 2. In February of 2015 the Company sold 800,000 common shares to one investor for the offering price of $0.05 per share that resulted in total proceeds of $40,000. 3. During 2015, the Company also received $50,000 through a placement of 333,333 common stock units. Those units were sold at $0.15 per unit. Each unit consisted of one share of common stock and one warrant to purchase common stock. The related warrants were exercisable at $0.25 and expired on December 31, 2016. The relative fair value attached to the common stock component is $26,416 and the relative fair value of the warrants is $23,584 as of the grant date. Such warrants were classified within stockholders’ equity. 4. In December 2016, the Company received $325,000 through a placement of 2,500,000 common stock units. Those units were sold at $0.13 per unit. Each unit consisted of two shares of common stock and warrants to purchase common stock. 953,846 class “G” warrants exercisable at $0.25 expire on December 2, 2018 and 953,846 class “H” warrants exercisable at $0.40 expire on December 2, 2019. Such warrants were classified within stockholders’ equity. The fair value of the warrants and options was estimated at the date of grant using the Black-Sholes-Merton pricing model. The Black-Sholes-Merton pricing model assumptions used are as follows: expected dividend yield of 0%; risk-free interest rate of 0.11%; expected volatility of 278%, and option term of 5.0 years. C. Stock Based Compensation 1. Grants to non-employees A. During the year ended December 31, 2015 the Company issued 2,114,935 shares of our common stock to unrelated parties as payment for services. During 2015, the Company cancelled 500,000 shares of common stock previously issued for services. The remaining issued shares (1,614,935) were valued at the closing prices as of the dates of the agreements (ranging from $0.19 to $0.25) and resulted in full recognition of $360,370 in consulting services expense during fiscal year 2015. B. In February, 2015 the Company issued 64,935 warrants for services. The warrants were exercisable at $0.25 and expired February 23, 2016. The Company used the Black-Scholes-Merton pricing model to estimate the fair value of $10,839. Such amount was charged to expenses in 2015. The Black-Sholes-Merton pricing model assumptions used are as follows: expected dividend yield of 0%; risk-free interest rate of 0.10%-.0.11%; expected volatility of 242%, and warrant exercise period based upon the stated terms. C. On November 22, 2016, the Company entered into a Corporate Management Services Agreement with Sorelenco Limited. In consideration for services, the Company agreed to issue to Sorelenco: (i) 1,442,308 restricted shares of the common stock, par value $0.0001 (the “Shares”); (ii) Class M Warrants exercisable for a period of twelve (12) months to purchase 1,250,000 Shares at an exercise price $0.08; (iii) Class G Warrants exercisable for a period of twenty-four (24) months to purchase 448,462 Shares at an exercise price $0.25; and (iv) Class H Warrants exercisable for a period of thirty-six (36) months to purchase 448,462 Shares at an exercise price $0.40. The aggregate fair value of the restricted shares and warrants was $432,200. This transaction represents an initiation of business relations between the parties. As the equity instruments issued are fully vested and nonforfeitable, the fair value of the grant was recognized as an increase to stockholders’ equity at the measurement date with an offsetting amount as a deduction from stockholders’ equity within the caption “Services receivable” (See Note 2I above). Such amount will be recognized as consulting expense over the term of the agreement. In 2016 the Company recognized $22,893 in expense and $409,307 as services receivable as of December 31, 2016. D. On November 28, 2016, the Company entered into a Consulting Agreement with Bear Creek Capital. In consideration for the services, the Company issued to Bear Creek 100,000 restricted shares of Common Stock. The aggregate fair value of the restricted shares was $10,000. This transaction represents initiation of business relations between the parties. As the equity instruments issued are fully vested and nonforfeitable, the fair value of the grant was recognized as an increase to stockholders’ equity at the measurement date with an offsetting amount as a deduction from stockholders’ equity within the caption “Services receivable” (See Note 2I above). Such amount, will be recognized as consulting expense over the term of the agreement. In 2016 the Company recognized $3,587 in expense and $6,413 as services receivable as of December 31, 2016. A. On December 16, 2016, the Company entered into a Consulting Agreement with Jeff Smurlick, pursuant to which the Consultant shall provide the Company with services in the areas of investor relations and business development. In consideration for the services, the Company issued to the Consultant 200,000 Class G Warrants and 200,000 Class H Warrants identical to the Class G and Class H Warrants described above. The aggregate fair value of the warrants was $41,259. This transaction represents initiation of business relations between the parties. As the equity instruments issued are fully vested and nonforfeitable, the fair value of the grant was recognized as an increase to stockholders’ equity at the measurement date with an offsetting amount as a deduction from stockholders’ equity within the caption “Services receivable” (See Note 2I above). Such amount will be recognized as consulting expense over the term of the agreement. In 2016 the Company recognized $1,696 in expense and $39,563 as services receivable as of December 31, 2016. On December 14, 2016, the Company issued 50,000 restricted shares of Common Stock to Securities Compliance Services for securities compliance services. The aggregate fair value of the restricted shares was $19,000. The entire fair value was recognized as consulting expense in 2016. 2. Grants to employees A. In January 2016 the Company granted 200,000 options exercisable into 200,000 shares of common stock at $0.05 per share valued at $6,342. The options were granted for employees. See B below. B. In December 2016 the Company approved the 2016 Employee Incentive Plan. The 2016 Plan provides for the issuance of common stock, stock options and other stock-based awards to employees, officers, directors, consultants, and advisors. The number of shares reserved for issuance under the 2016 Plan is 36,000,000 shares of common stock. In 2016 the Company granted options exercisable into 34,850,000 shares under the plan at the exercise price of $0.05 per share. The granted options become vested over a two (2) year period from its date of grant. The options shall vest 1/3 on grant date and remaining 2/3 on a quarterly basis (8.33% per quarter) The Company estimates that the expected life of the options granted using the simplified method allowable under Staff Accounting Bulletin No. 107, Share Based Payments. The interest rate is based on the U.S. Treasury bill rates for U.S. treasury bills with terms commensurate with the expected term of the option grants on the grant date of the option. The following table summarizes the assumptions used in computing fair value: 2016 Risk-free interest rate 1.10 % Dividend yield 0.00 % Expected volatility 269 % Expected term (in years) 5.0 Weighted average grant date fair value of options granted during the period $ 0.11 C. The following tables present a summary of the status of the grants to employees, officers and directors as of December 31, 2016. Number Weighted average exercise price Balance outstanding at December 31, 2015 - - Granted 35,050,000 $ 0.051 Balance outstanding at December 31, 2016 35,050,000 $ 0.051 Balance exercisable at December 31, 2016 11,716,665 $ 0.051 As of December 31, 2016, all options granted are expected to vest and the weighted-average remaining contractual life of all options is 4.9 years. The weighted-average fair value of all stock options granted for the year ended December 31, 2016 was $0.11. The following tables summarize information about options outstanding at December 31, 2016: Exercise price (US$) Outstanding at December 31, 2016 Weighted average remaining contractual life (months) Exercise price (US$) Exercisable at December 31, 2016 Weighted average remaining contractual life (months) 0.05 34,850,000 59.5 $ 0.05 11,616,665 59.5 $0.10-$0.30 200,000 31.9 $0.10-$0.30 100,000 25.0 35,050,000 11,716,665 D. Unsecured Notes Payable with Conversion Rights A convertible loan for $78,500 issued on February 2, 2016, bears interest at 8.0% per annum until paid or converted and had an original maturity date of November 2, 2016. Any or all of the outstanding balance of the note may be converted at the option of the holder at any time into common stock of the Company at a variable conversion price of 65% of market price. Upon the issuance of the convertible note, the Company bifurcated the embedded conversion feature and recorded an initial derivative liability of $41,974 (the estimated fair value at the date of grant based on the Binomial option pricing model) all of which was allocated as debt discount. During 2015 the Company agreed to provide unsecured promissory notes with an unrelated party for $37,500. The note was non-interest bearing and was due on September 16, 2016. The note had not been paid and was in default at September 30, 2016. The note had a future conversion right that allowed the holder to convert the principal balance into the Company’s common stock at the lender’s sole discretion at 50% of the then market price (as defined) per share. In accordance with ASC 470, the Company has analyzed the beneficial nature of the conversion terms and determined that a beneficial conversion feature (BCF) existed because the effective conversion price was less than the quoted market price at the time of the issuance. The Company calculated the value of the BCF using the intrinsic method as stipulated in ASC 470. The BCF of $37,500 had been recorded as a discount to the notes payable and to Additional Paid-in Capital in fiscal 2015 upon initial recognition of such note. For year ended December 31, 2016 the Company has amortized $83,650 ($3,074 in 2015) of the discount arising from the embedded derivative and beneficial conversion feature of the above described notes. As a result of the conversion described below, the accounting for the above described notes is complete as of December 31, 2016. During August and September 2016, in accordance with the original terms of the notes, at the option of the note holders, the entire combined principal balance of $116,000 and interest of $3,140 was converted into 53,844,599 shares of common stock. At the date of conversions, the entire derivative liability associated with the bifurcated conversion feature was marked-to-market, resulting in an increase to the total derivative liability of $55,998 which was reclassified to additional paid-in capital on the date of conversion. The change in derivative fair value was recorded as a derivative valuation charge (within financing expenses) in the Consolidated Statement of Operations. (See E below). However, as the $37,500 note was in default, the Company was required to amend the conversion price to 25% of the market price (as defined) , in accordance with the original terms of such note. E. Embedded Conversion Feature To properly account for the $78,500 convertible note issued during February 2016 discussed in Note 8D above, the Company performed a detailed analysis to obtain a thorough understanding of the transaction. The Company reviewed FASB ASC 815, to identify whether any equity-linked features in the notes are freestanding or embedded. The notes were then analyzed in accordance with FASB ASC 815 to determine if the anti-dilution feature should be bifurcated and accounted for at fair value and remeasured at fair value in income. The Company determined that the anti-dilution feature met the requirements for bifurcation pursuant to FASB ASC 815 due to the variable conversion price and therefore accounted for the anti-dilution features of the notes as a derivative liability. Changes in fair value of the derivative financial instruments were recognized in the Company’s statement of operations as a derivative valuation gain or loss. The adjustment to market of $55,998 resulted in a charge of $14,024 for the year ended December 31, 2016. The Company measured the conversion option derivatives using the lattice model. Assumptions used include: ● life through the note maturity date ● expected volatility-152%, ● expected dividends-none ● exercise prices as set forth in the agreements, ● common stock price of the underlying share on the valuation date, and ● number of shares to be issued if the instrument is converted

General and Administrative Expe

General and Administrative Expenses	12 Months Ended
	Dec. 31, 2016
General And Administrative Expenses - Schedule Of General And Administrative Expenses Details Parenthetical
General and Administrative Expenses	NOTE 9 - GENERAL AND ADMINISTRATIVE EXPENSES US dollars Year ended December 31, 2016 2015 Salaries and related expenses 91,962 389,233 Professional fees (*) 1,725,065 732,467 Travel and expenses 25,685 67,787 Depreciation 9,686 9,123 Insurance 20,600 24,367 Other 133,218 157,052 2,006,216 1,380,029 (*) Including stock based compensation 1,468,859 371,209

Financing Expenses, Net

Financing Expenses, Net	12 Months Ended
	Dec. 31, 2016
Financing Expenses Net
Financing Expenses, Net	NOTE 10 - FINANCING EXPENSES, NET US dollars Year ended December 31, 2016 2015 Adjustments of convertible loans 180,340 - Exchange differences on principal of long term loan 16,972 - Others, net (8,057 ) 3,565 189,255 3,565

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11 - INCOME TAXES The Company has adopted ASC 740 which provides for the recognition of a deferred tax asset based upon the value the loss carry-forwards will have to reduce future income taxes and management’s estimate of the probability of the realization of these tax benefits. Our net operating loss carryovers incurred prior to 2010 considered available to reduce future income taxes were reduced or eliminated through a change of control (I.R.C. Section 382(a)) and the continuity of business limitation of I.R.C. Section 382(c). The Company has a current operating loss carry-forward in the United States of approximately $6,500,000 and in Israel of approximately $1,900,000, resulting in deferred tax assets of $2,666,175. The Company has determined it more likely than not that the related deferred tax assets will not materialize and have provided a valuation allowance against substantially all our net deferred tax asset. In US Dollars December 31 2016 2015 Individual components giving rise to the deferred tax assets are as follows:: Future tax benefit arising from net operating loss carryovers 2,666,175 1,980,900 Less valuation allowance (2,666,175 ) (1,980,900 ) Net deferred - - The components of pretax loss are as follows: In US Dollars December 31 2016 2015 U.S. (1,888,489 ) (690,420 ) Non-U.S. (398,840 ) (964,568 ) (2,287,329 ) (1,654,988 ) Future utilization of currently generated federal and state NOL and tax credit carry forwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended and similar state provisions. The annual limitation may result in the expiration of NOL and tax credit carry forwards before full utilization. The Company is not under examination by any jurisdiction for any tax year. Our federal and state income tax returns are open for fiscal years ending on or after December 31, 2013. Management will continue to evaluate the realizability of the deferred tax asset and its related valuation allowance. If our assessment of the deferred tax assets or the corresponding valuation allowance were to change, the Company would record the related adjustment to income during the period in which the Company makes the determination. Our tax rate may also vary based on our results and the mix of income or loss in domestic and foreign tax jurisdictions in which the Company operate. In addition, the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations. The Company recognizes liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on our estimate of whether, and to the extent to which, additional taxes will be due. If the Company ultimately determines that payment of these amounts is unnecessary, the Company will reverse the liability and recognize a tax benefit during the period in which the Company determines that the liability is no longer necessary. The Company will record an additional charge in our provision for taxes in the period in which the Company determine that the recorded tax liability is less than the Company expects the ultimate assessment to be.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Loss Per Share	NOTE 12 - LOSS PER SHARE The loss and the weighted average number of shares used in computing basic and diluted loss per share for the years ended December 31, 2016 and 2015, are as follows: US dollars Year ended December 31, 2016 2015 Loss used for the computation of basic and diluted loss per share (2,287,329 ) (1,654,988 ) Number of shares Year ended December 31, 2016 2015 Weighted average number of shares used in the computation of basic and diluted earnings per share 96,362,150 80,591,237

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 13 - RELATED PARTY TRANSACTIONS 1. Chairmen and CEO of both parent and subsidiary, serves as employee of the subsidiary with compensation of $3,000 per month. In addition, he was awarded 10,000,000 options through the 2016 ESOP which vest over two years. 2. CFO of both parent and subsidiary receives compensation of $3,000 per month. In addition, he was awarded 750,000 options through the 2016 ESOP which vest over two years. 3. Former Managing Director of the subsidiary, received compensation of $3,000 per month. In addition, he was awarded 10,000,000 options through the 2016 ESOP which vest over two years 4. Chief Science Officer and Director of Research and Regulatory Affairs, receives compensation of $3,000 per month. In addition, he was awarded 7,000,000 options through the 2016 ESOP which vest over two years 5. COO and Interim CEO of subsidiary, receives compensation of $3,000 per month. In addition, he was awarded 7,000,000 options through the 2016 ESOP which vest over two years. All 5 officers are serving in the Company and subsidiary since 2014. All are entitled to receive 60 days early notification of ending working relation and employee rights according to Israeli law, including severance pay.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	NOTE 14 - SUBSEQUENT EVENTS A. In 2017 through April 17, 2017, the Company received $1,752,416 in proceeds from the sale of 4,537,954 shares of common stock and warrants. B. In February 2017 Medmar paid the last payment in an amount of $50,000, to complete the $ 300,000 loan commitment described in Note 7A2. C. See note 7B.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	A. Basis of Presentation The consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP).
Principles of Consolidation	B. Principles of Consolidation The financial statements include the accounts of OWC Pharmaceutical Research Corp. and its wholly owned Israeli subsidiary. All significant inter-company balances and transactions have been eliminated.
Use of Estimates	C. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to (i) Stock based compensation (ii) the going concern assumptions.
Functional Currency	D. Functional currency The functional currency of the Company is the US dollar, which is the currency of the primary economic environment in which it operates. In accordance with ASC 830, “Foreign Currency Matters” (ASC 830), balances denominated in or linked to foreign currency are stated on the basis of the exchange rates prevailing at the applicable balance sheet date. For foreign currency transactions included in the statement of operations, the exchange rates applicable on the relevant transaction dates are used. Gains or losses arising from changes in the exchange rates used in the translation of such transactions are presented within financing income or expenses. Non-U.S. entity operations are recorded in New Israeli Shekels the functional currency of the Israeli subsidiary. Results of operations for non-U.S. dollar functional currency entities are translated into U.S. dollars using average currency rates or actual action date currency rate. Assets and liabilities are translated using currency rates at period end. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity.
Cash and Cash Equivalents	E. Cash and Cash Equivalents For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents. There were no cash equivalents at December 31, 2016 and 2015.
Property and Equipment	F. Property and Equipment New property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 5 years. Expenditures for renewals and betterments are capitalized. Expenditures for minor items, repairs and maintenance are charged to operations as incurred. Gain or loss upon sale or retirement due to obsolescence is reflected in the operating results in the period the event takes place.
Impairment of Long-lived Assets	G. Impairment of Long-Lived Assets The Company reviews the recoverability of our long-lived assets including property and equipment, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. Our primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations.
Warrant	H. Warrants The Company reviews the terms of all warrants issued and classifies the warrants as a component of permanent equity if they are freestanding financial instruments that are legally detachable and separately exercisable, contingently exercisable, do not embody an obligation for the Company to repurchase its own shares, and permit the holders to receive a fixed number of shares of common stock upon exercise. In addition, the warrants must require physical settlement and may not provide any guarantee of value or return. Warrants that meet these criteria are initially recorded at their grant date fair value and are not subsequently remeasured. Warrants that do not meet this criteria represent a derivative liability and are measured upon initial recognition and remeasured at subsequent reporting periods at their fair value. Changes in the fair value of any liability – classified instruments are recorded in the consolidated statement of operations.
Stock Based Compensation	I. Stock-Based Compensation The Company accounts for stock-based compensation to employees in accordance with ASC Topic 718, Compensation – Stock Compensation Stock based payments awarded to consultants (non-employees) are accounted for in accordance with ASC Topic 505-50, “ Equity-Based Payments to Non-Employees
Accounting for Obligations and Instruments Potentially to be Settled in the Company's Own Stock	J. Accounting For Obligations and Instruments Potentially To Be Settled In The Company’s Own Stock The Company accounts for obligations and instruments potentially to be settled in the Company’s stock in accordance with FASB ASC 815, Accounting for Derivative Financial Instruments. This issue addresses the initial balance sheet classification and measurement of contracts that are indexed to, and potentially settled in, the Company’s own stock.
Fair Value of Financial Instruments	K. Fair Value of Financial Instruments ASC 825, “Financial Instruments,” requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between market participants. At December 31, 2016 and December 31, 2015, the carrying value of certain financial instruments (cash and cash equivalents, accounts payable and accrued expenses.) approximates fair value due to the short-term nature of the instruments or interest rates, which are comparable with current rates.
Fair Value Measurements	L. Fair Value Measurements The Company measures fair value under a framework that utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are: Level 1: Level 2 - Quoted prices for similar assets or liabilities in active markets; - Quoted prices for identical or similar assets or liabilities in inactive markets; - Inputs other than quoted prices that are observable for the asset or liability; - Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3 The assets or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. When the Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of the reporting period that the transfers occur. For the fiscal periods ended December 31, 2016 and December 31, 2015, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As of December 31, 2016 and 2015, no assets or liabilities were required to be measured at fair value on a recurring basis.
Convertible Loans	M. Convertible Loans The Company considers the provisions of ASC Topic 815 - 40, ”Derivatives and Hedging - Contracts in Entity’s Own Equity” When the Company determine that the embedded conversion feature should not be separated from the host instrument because it qualified for equity classification, the Company applies ASC Topic 470 - 20, ”Debt - Debt with Conversion and Other Options
Earnings Per Common Share	N. Earnings per Common Share The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method with respect to options and warrants and convertible loans or preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
Liability for Employee Rights Upon Retirement	O. Liability for employee rights upon retirement The Israeli subsidiary’s liability for employee rights upon retirement with respect to its Israeli employees is calculated pursuant to the Israeli Severance Pay Law, based on the most recent salary of each employee multiplied by the number of years of employment of each such employee as of the balance sheet date. Employees are entitled to one month’s salary for each year of employment, or ratable portion thereof for periods less than one year. The Israeli subsidiary makes monthly deposits to insurance policies and severance pay funds. The deposited funds may be withdrawn upon the fulfillment of the Israeli subsidiary’s severance obligations pursuant to Israeli severance pay laws or labor agreements with its employees. The value of the deposited funds is based on the cash surrender value of these policies, and includes immaterial profits or losses. Severance expenses for the year ended December 31, 2016, and 2015 amounted to $30,000 and $15,000, respectively.
Income Taxes	P. Income Taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. Accordingly, deferred income taxes are determined utilizing the asset and liability method based on the estimated future tax effects of differences between the financial accounting and the tax bases of assets and liabilities under the applicable tax law. Deferred tax balances are computed using the enacted tax rates expected to be in effect when these differences reverse. Valuation allowances in respect of deferred tax assets are provided for, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. The Company accounts for uncertain tax positions in accordance with ASC Topic 740-10, which prescribes detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise’s financial statements. According to ASC Topic 740-10, tax positions must meet a more-likely-than-not recognition threshold. The Company’s accounting policy is to classify interest and penalties relating to uncertain tax positions under income taxes, however the Company did not recognize such items in its fiscal 2016 and 2015 financial statements and did not recognize any liability with respect to unrecognized tax position in its balance sheet.
Revenue Recognition	Q. Revenue Recognition Revenues from consulting services are recognized when the services are rendered or when applicable, if the consideration is non-refundable, upon expiration of the Company’s performance obligation. Deferred revenue includes amounts received with respect to consultation services not yet recognized as revenues. Such revenues are deferred and recognized on a straight-line basis over the service period or when service is provided, as applicable to the contract.
Research and Development Expenses	R. Research and development expenses Research and development expenses are charged to operations as incurred.
Concentrations of Credit Risk	S. Concentrations of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash and cash equivalents are deposited with major banks in Israel and the United States of America. Management believes that such financial institutions are financially sound and, accordingly, minimal credit risk exists with respect to these financial instruments. As of December 31, 2016 and 2015 the balances of accounts receivable were not material and accordingly such balances do not represent substantial concentration of credit risk. The Company does not have any significant off-balance-sheet concentration of credit risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements.
Contingencies	T. Contingencies The Company records accruals for loss contingencies arising from claims, litigation and other sources when it is probable that a liability has been incurred and the amount can be reasonably estimated. These accruals are adjusted periodically as assessments change or additional information becomes available. Legal costs incurred in connection with loss contingencies are expensed as incurred.
Reclassifications	U. Reclassifications Certain reclassifications from the prior year presentation have been made to conform to the current year presentation. These reclassifications did not have material impact on the Company’s equity, net assets, results of operations or cash flows.
Adoption of New Accounting Standards	V. Adoption of New Accounting Standards In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The amendments in ASU 2014-15 became effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Accordingly, management applied the guidance of ASU 2014-15 to these financial statements and has determined that there is a substantial doubt about the Company’s ability to continue as a going concern. Certain disclosures were updated to conform to the disclosures required under ASU 2014-15.
Recently Issued Accounting Standards	W. Recently Issued Accounting Standards In May 2014, The FASB issued Accounting Standard Update 2014-09 , Revenue from Contracts with Customers (Topic 606) ASU 2014-09 outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. ASU 2014-09 also requires entities to disclose sufficient information, both quantitative and qualitative, to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. During 2016, the FASB issued several Accounting Standard Updates that focuses on certain implementation issues of the new revenue recognition guidance including Narrow-Scope Improvements and Practical Expedients, Principal versus Agent Considerations and Identifying Performance Obligations and Licensing. An entity should apply the amendments in this ASU using one of the following two methods: 1. Retrospectively to each prior reporting period presented with a possibility to elect certain practical expedients, or, 2. Retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application. If an entity elects the latter transition method, it also should provide certain additional disclosures. For a public entity, the amendments in ASU 2014-09 (including the amendments introduced through recent ASU’s) are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period (the first quarter of fiscal year 2018 for the Company). Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company intends to adopt ASU 2014-09 as of January 1, 2018. The Company is in the process of evaluating the impact of ASU 2014-09 on its revenue streams and selling contracts, if any, and on its financial reporting and disclosures. Management is expecting to complete the evaluation of the impact of the accounting and disclosure changes on the business processes, controls and systems throughout 2017. Since the Company did not report so far, material revenues, management believes that the adoption of ASU 2014-09 will not have significant impact on its financial statements. In November 2015, the FASB has issued Accounting Standards Update (ASU) No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, which changes how deferred taxes are classified on organizations’ balance sheet. The ASU eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, all deferred tax assets and liabilities will be required to be classified as noncurrent. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods (i.e., in the first quarter of 2017 for calendar year-end companies).Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The guidance may be applied either prospectively, for all deferred tax assets and liabilities, or retrospectively (i.e., by reclassifying the comparative balance sheet). If applied prospectively, entities are required to include a statement that prior periods were not retrospectively adjusted. If applied retrospectively, entities are also required to include quantitative information about the effects of the change on prior periods. The Company does not believe this ASU will have a significant impact on its consolidated financial statements. In March 2016, the FASB has issued Accounting Standards Update (ASU) No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments are intended to improve the accounting for employee share-based payments and affect all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The amendments also simplify two areas specific to private companies. For public companies, the amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period periods (i.e., in the first quarter of 2017 for calendar year-end companies). The Company is in the process of assessing the impact, if any, of ASU 2016-09 on its consolidated financial statements.

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	US dollars December 31, 2016 2015 Prepaid expenses 1,536 38,591 Others 7,877 11,797 9,413 50,388

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	US dollars December 31, 2016 2015 Furniture and office equipment 2,407 2,407 Computers 24,641 24,641 Photography 7,714 7,714 Machinery 1,860 0 36,622 34,762 Less – accumulated depreciation (21,549 ) (11,863 ) 15,073 22,899

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Fair Value Assumptions	2016 Risk-free interest rate 1.10 % Dividend yield 0.00 % Expected volatility 269 % Expected term (in years) 5.0 Weighted average grant date fair value of options granted during the period $ 0.11
Schedule of Stock Option Activity	Number Weighted average exercise price Balance outstanding at December 31, 2015 - - Granted 35,050,000 $ 0.051 Balance outstanding at December 31, 2016 35,050,000 $ 0.051 Balance exercisable at December 31, 2016 11,716,665 $ 0.051
Schedule of Stock Option Outstanding	The following tables summarize information about options outstanding at December 31, 2016: Exercise price (US$) Outstanding at December 31, 2016 Weighted average remaining contractual life (months) Exercise price (US$) Exercisable at December 31, 2016 Weighted average remaining contractual life (months) 0.05 34,850,000 59.5 $ 0.05 11,616,665 59.5 $0.10-$0.30 200,000 31.9 $0.10-$0.30 100,000 25.0 35,050,000 11,716,665

General and Administrative Ex26

General and Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2016
General And Administrative Expenses - Schedule Of General And Administrative Expenses Details Parenthetical
Schedule of General and Administrative Expenses	US dollars Year ended December 31, 2016 2015 Salaries and related expenses 91,962 389,233 Professional fees (*) 1,725,065 732,467 Travel and expenses 25,685 67,787 Depreciation 9,686 9,123 Insurance 20,600 24,367 Other 133,218 157,052 2,006,216 1,380,029 (*) Including stock based compensation 1,468,859 371,209

Financing Expenses, Net (Tables

Financing Expenses, Net (Tables)	12 Months Ended
	Dec. 31, 2016
Financing Expenses Net
Schedule of Financing Expenses, Net	US dollars Year ended December 31, 2016 2015 Adjustments of convertible loans 180,340 - Exchange differences on principal of long term loan 16,972 - Others, net (8,057 ) 3,565 189,255 3,565

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets	In US Dollars December 31 2016 2015 Individual components giving rise to the deferred tax assets are as follows:: Future tax benefit arising from net operating loss carryovers 2,666,175 1,980,900 Less valuation allowance (2,666,175 ) (1,980,900 ) Net deferred - -
Schedule of Components of Pretax Loss	The components of pretax loss are as follows: In US Dollars December 31 2016 2015 U.S. (1,888,489 ) (690,420 ) Non-U.S. (398,840 ) (964,568 ) (2,287,329 ) (1,654,988 )

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Loss and Weighted Average Number of Shares	The loss and the weighted average number of shares used in computing basic and diluted loss per share for the years ended December 31, 2016 and 2015, are as follows: US dollars Year ended December 31, 2016 2015 Loss used for the computation of basic and diluted loss per share (2,287,329 ) (1,654,988 ) Number of shares Year ended December 31, 2016 2015 Weighted average number of shares used in the computation of basic and diluted earnings per share 96,362,150 80,591,237

General (Details Narrative)

General (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
General Details Narrative
Accumulated deficit	$ 9,836,195	$ 7,548,866
Stockholders' equity	100,988	322,822	$ 1,462,508
Proceeds from issuance of common stock and warrant	$ 325,000	$ 124,000

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Summary Of Significant Accounting Policies Details Narrative
Cash equivalents
Property and equipment estimated useful lives of assets	5 years
Severance expenses	$ 30,000	$ 15,000

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Other Current Assets - Schedule Of Other Current Assets Details
Prepaid expenses	$ 1,536	$ 38,591
Others	7,877	11,797
Total other current assets	$ 9,413	$ 50,388

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property And Equipment Details Narrative
Depreciation expenses	$ 9,686	$ 9,123
Purchase of equipment	$ 1,860	$ 2,569

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Property and Equipment, gross	$ 36,622	$ 34,762
Less - accumulated depreciation	(21,549)	(11,863)
Property and Equipment, net	15,073	22,899
Furniture and Office Equipment [Member]
Property and Equipment, gross	2,407	2,407
Computers [Member]
Property and Equipment, gross	24,641	24,641
Photography [Member]
Property and Equipment, gross	7,714	7,714
Machinery [Member]
Property and Equipment, gross	$ 1,860	$ 0

Line of Credit (Details Narrati

Line of Credit (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)
Israeli Bank [Member]
Line of credit	$ 7,500

Non-Recourse Loan (Details Narr

Non-Recourse Loan (Details Narrative) - USD ($)	Sep. 28, 2016	Dec. 31, 2016	Dec. 31, 2015
Non recourse loan		$ 250,000
Proceeds from loan		$ 250,000
Loan Agreement [Member] | Medmar LLC [Member]
Non recourse loan	$ 300,000
Loan term	36 months

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Nov. 03, 2016	Mar. 17, 2016	Feb. 08, 2016	Oct. 11, 2015	Jun. 30, 2016	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Revenues							$ 50,000
Repayment of related party debt							64,389
Sheba [Member]
Repayment of related party debt					$ 170,000	$ 170,000
Sheba [Member] | Throughout 2017 [Member]
Repayment of related party debt							85,000
Medmar LLC [Member]
Payments for royalties			$ 50,000	$ 100,000			$ 50,000	$ 50,000
Proceeds from non-refundable advance		$ 50,000
Michepro Holding Ltd [Member]
Interest percentage, description	the interest of the parties in the JV shall be held by the parties such that the EU Partner shall hold 25% of such interest and OWC shall hold the remaining 75% of such interest

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)		Dec. 16, 2016	Dec. 14, 2016	Nov. 28, 2016	Nov. 22, 2016	Feb. 02, 2016	Sep. 30, 2015	Dec. 31, 2016	Feb. 29, 2016	Jan. 31, 2016	Feb. 28, 2015	Feb. 28, 2014	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Common stock voting rights														Holders of shares of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders.
Received through a placement of common stock units							$ 34,000
Number of common stock units through placement							283,334
Sold per unit price							$ 0.24
Common stock price per share							$ 0.12
Fair value of common stock							$ 18,672
Fair value of warrants							$ 15,328
Expected dividend yield														0.00%
Risk-free interest rate														1.10%
Expected volatility														269.00%
Option term														5 years
Common stock shares issued								139,447,782						139,447,782	81,460,875
Common stock, par value								$ 0.00001						$ 0.00001	$ 0.00001
Consulting services expense	[1]													$ 1,725,065	$ 732,467
Stock options granted during the period														35,050,000
Stock options shares exercisable								11,716,665						11,716,665
Stock options exercisable price per share								$ 0.051						$ 0.051
Weighted-average fair value of stock options granted														$ 0.11
Settlement of convertible note payable														$ 123,666
Embedded Conversion Feature [Member]
Expected volatility														152.00%
Proceeds from convertible note payable									$ 78,500
Derivative liabilities adjustment to market														$ 55,998
Embedded conversion feature														$ 14,024
Unsecured Notes Payable [Member]
Proceeds from note payable						$ 78,500									$ 37,500
Debt interest rate						8.00%
Debt maturity date						Nov. 2, 2016									Sep. 16, 2016
Debt variable conversion price percentage						65.00%								25.00%
Derivative liability						$ 41,974							$ 55,998
Debt discount															$ 37,500
Amortized of debt discount														$ 83,650	3,074
Number of stock issued upon conversion of debt													53,844,599
Settlement of convertible note payable													$ 116,000
Accrued interest													$ 3,140
Debt default amount															37,500
Private Placement [Member]
Received through a placement of common stock units														$ 325,000	$ 50,000
Number of common stock units through placement														2,500,000	333,333
Sold per unit price								$ 0.13						$ 0.13	$ 0.15
Warrants purchase of common stock															0.25
Fair value of common stock															$ 26,416
Fair value of warrants															$ 23,584
Warrants expire date															Dec. 31, 2016
One Investor [Member]
Received through a placement of common stock units											$ 40,000
Number of common stock units through placement											800,000
Sold per unit price											$ 0.05
Non-Employees [Member]
Interim issued shares of our common stock to unrelated parties															2,114,935
Number of stock cancelled of previously issued for services															500,000
Consulting Services [Member]
Interim issued shares of our common stock to unrelated parties															1,614,935
Stock issued for services, value															$ 360,370
Consulting Services [Member] | Minimum [Member]
Common stock price per share															$ 0.19
Consulting Services [Member] | Maximum [Member]
Common stock price per share															$ 0.25
Sorelenco Limited [Member]
Consulting services expense														$ 22,893
Services receivable								$ 409,307						409,307
Sorelenco Limited [Member] | Restricted Stock [Member]
Fair value of warrants					$ 432,200
Common stock shares issued					1,442,308
Common stock, par value					$ 0.0001
Bear Creek Capital [Member]
Consulting services expense														3,587
Services receivable								6,413						6,413
Bear Creek Capital [Member] | Restricted Stock [Member]
Interim issued shares of our common stock to unrelated parties				100,000
Stock issued for services, value				$ 10,000
Consultant [Member]
Consulting services expense														1,696
Services receivable								$ 39,563						$ 39,563
Consultant [Member] | Restricted Stock [Member]
Interim issued shares of our common stock to unrelated parties			50,000
Stock issued for services, value			$ 19,000
Employees [Member]
Stock options granted during the period										200,000
Stock options shares exercisable										200,000
Stock options granted value during the period										$ 6,342
Stock options exercisable price per share										$ 0.05
Options granted are expected to vest and weighted-average remaining contractual life														4 years 10 months 24 days
Weighted-average fair value of stock options granted														$ 0.11
Employees [Member] | 2016 Employee Incentive Plan [Member]
Stock options shares exercisable								34,850,000						34,850,000
Stock options exercisable price per share								$ 0.05						$ 0.05
Number of shares reserved for issuance								36,000,000						36,000,000
Stock options vested descriptions								The granted options become vested over a two (2) year period from its date of grant. The options shall vest 1/3 on grant date and remaining 2/3 on a quarterly basis (8.33% per quarter)
Warrant One [Member]
Warrants purchase of common stock							141,667
Warrants to purchase exercisable price per share							$ 0.12
Warrants term							12 months
Warrant Two [Member]
Warrants purchase of common stock							141,667
Warrants to purchase exercisable price per share							$ 0.12
Warrants term							24 months
Class G Warrants Exercisable [Member] | Private Placement [Member]
Warrants purchase of common stock								953,846						953,846
Warrants to purchase exercisable price per share								$ 0.25						$ 0.25
Warrants expire date														Dec. 2, 2018
Class G Warrants Exercisable [Member] | Sorelenco Limited [Member]
Warrants purchase of common stock					448,462
Warrants to purchase exercisable price per share					$ 0.25
Warrants term					24 months
Class G Warrants Exercisable [Member] | Consultant [Member]
Fair value of warrants		$ 41,259
Interim issued shares of our common stock to unrelated parties		200,000
Class H Warrants Exercisable [Member] | Private Placement [Member]
Warrants purchase of common stock								953,846						953,846
Warrants to purchase exercisable price per share								$ 0.40						$ 0.40
Warrants expire date														Dec. 2, 2019
Class H Warrants Exercisable [Member] | Sorelenco Limited [Member]
Warrants purchase of common stock					448,462
Warrants to purchase exercisable price per share					$ 0.40
Warrants term					36 months
Class H Warrants Exercisable [Member] | Consultant [Member]
Fair value of warrants		$ 41,259
Interim issued shares of our common stock to unrelated parties		200,000
Warrants And Stock Options [Member]
Expected dividend yield														0.00%
Risk-free interest rate														0.11%
Expected volatility														278.00%
Option term														5 years
Warrants [Member]
Warrants to purchase exercisable price per share												$ 0.25
Fair value of warrants												$ 10,839
Warrants expire date												Feb. 23, 2016
Expected dividend yield												0.00%
Risk-free interest rate, Minimum												0.10%
Risk-free interest rate, Maximum												0.11%
Expected volatility												242.00%
Interim issued shares of our common stock to unrelated parties												64,935
Class M Warrants Exercisable [Member] | Sorelenco Limited [Member]
Warrants purchase of common stock					1,250,000
Warrants to purchase exercisable price per share					$ 0.08
Warrants term					12 months
[1]	Including stock based compensation

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Fair Value Assumption (Details)	12 Months Ended
	Dec. 31, 2016$ / shares
Equity [Abstract]
Risk-free interest rate	1.10%
Dividend yield	0.00%
Expected volatility	269.00%
Expected term (in years)	5 years
Weighted average grant date fair value of options granted during the period	$ 0.11

Stockholders' Equity - Schedu40

Stockholders' Equity - Schedule of Stock Options Activity (Details)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Equity [Abstract]
Number of stock options balance, beginning of year | shares
Number of stock options, granted | shares	35,050,000
Number of stock options balance, end of year | shares	35,050,000
Number of stock options, exercisable | shares	11,716,665
Weighted average exercise price balance, beginning of year | $ / shares
Weighted average exercise price, stock options granted | $ / shares	0.051
Weighted average exercise price balance, end of year | $ / shares	0.051
Weighted average exercise price, exercisable | $ / shares	$ 0.051

Stockholders' Equity - Schedu41

Stockholders' Equity - Schedule of Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Outstanding Stock Options | shares	35,050,000
Exercisable Stock Options | shares	11,716,665
Exercise Price Range 1 [Member]
Range of Exercise Prices, Upper Range Limit | $ / shares	$ 0.05
Weighted average remaining contractual life (months)	59 months 15 days
Outstanding Stock Options | shares	34,850,000
Weighted Average Exercise Price | $ / shares	$ 0.05
Exercisable Stock Options | shares	11,616,665
Weighted average remaining contractual life (months)	59 months 15 days
Exercise Price Range 2 [Member]
Range of Exercise Prices, Lower Range Limit | $ / shares	$ 0.10
Range of Exercise Prices, Upper Range Limit | $ / shares	$ 0.30
Weighted average remaining contractual life (months)	31 months 27 days
Outstanding Stock Options | shares	200,000
Exercisable Stock Options | shares	100,000
Weighted average remaining contractual life (months)	25 months
Exercise Price Range 2 [Member] | Minimum [Member]
Weighted Average Exercise Price | $ / shares	$ 0.10
Exercise Price Range 2 [Member] | Maximum [Member]
Weighted Average Exercise Price | $ / shares	$ 0.50

General and Administrative Ex42

General and Administrative Expenses - Schedule of General and Administrative Expenses (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
General And Administrative Expenses - Schedule Of General And Administrative Expenses Details Parenthetical
Salaries and related expenses		$ 91,962	$ 389,233
Professional fees	[1]	1,725,065	732,467
Travel and expenses		25,685	67,787
Depreciation		9,686	9,123
Insurance		20,600	24,367
Other		133,218	157,052
General and administrative expenses		$ 2,006,216	$ 1,380,029
[1]	Including stock based compensation

General and Administrative Ex43

General and Administrative Expenses - Schedule of General and Administrative Expenses (Details) (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
General And Administrative Expenses - Schedule Of General And Administrative Expenses Details Parenthetical
Stock based compensation	$ 1,468,859	$ 371,209

Financing Expenses, Net - Sched

Financing Expenses, Net - Schedule of Financing Expenses, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Financing Expenses Net
Adjustments of convertible loans	$ 180,340	$ 3,074
Exchange differences on principal of long term loan	16,972
Others, net	(8,057)	3,565
Financing Expenses, Net	$ 189,255	$ 3,565

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets	$ 2,666,175	$ 1,980,900
United States [Member]
Operating loss carryforwards	6,500,000
Israel [Member]
Operating loss carryforwards	$ 1,900,000

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Income Taxes - Schedule Of Deferred Tax Assets Details
Future tax benefit arising from net operating loss carryovers	$ 2,666,175	$ 1,980,900
Less valuation allowance	(2,666,175)	(1,980,900)
Net deferred

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Pretax Loss (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net loss	$ (2,287,329)	$ (1,654,988)
U.S. [Member]
Net loss	(1,888,489)	(690,420)
Non-U.S. [Member]
Net loss	$ (398,840)	$ (964,568)

Loss Per Share - Schedule of Lo

Loss Per Share - Schedule of Loss and Weighted Average Number of Shares (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Loss used for the computation of basic and diluted loss per share	(2,287,329)	(1,654,988)
Weighted average number of shares used in the computation of basic and diluted earnings per share	96,362,150	80,591,237

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)shares
Chairmen and CEO [Member]
Compensation per month | $	$ 3,000
Number of stock options awarded during the period of 2016 ESOP | shares	10,000,000
Stock options vested period	2 years
CFO [Member]
Compensation per month | $	$ 3,000
Number of stock options awarded during the period of 2016 ESOP | shares	750,000
Stock options vested period	2 years
Former Managing Director [Member]
Compensation per month | $	$ 3,000
Number of stock options awarded during the period of 2016 ESOP | shares	10,000,000
Stock options vested period	2 years
Chief Science Officer and Director [Member]
Compensation per month | $	$ 3,000
Number of stock options awarded during the period of 2016 ESOP | shares	7,000,000
Stock options vested period	2 years
COO and Interim CEO [Member]
Compensation per month | $	$ 3,000
Number of stock options awarded during the period of 2016 ESOP | shares	7,000,000
Stock options vested period	2 years

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	1 Months Ended	4 Months Ended	12 Months Ended
	Feb. 28, 2017	Apr. 17, 2017	Dec. 31, 2016	Dec. 31, 2015
Proceeds from issuance common stock and warrants			$ 325,000	$ 124,000
Payment to related party			$ 64,389
Subsequent Event [Member]
Proceeds from issuance common stock and warrants		$ 1,752,416
Number of common stock and warrants issued during the period		4,537,954
Payment to related party	$ 50,000
Loan commitment amount	$ 300,000