InspireMD (NSPR) 10-Q 13 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 10, 2019
Document And Entity Information
Entity Registrant Name	InspireMD, Inc.
Entity Central Index Key	0001433607
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		1,397,655
Trading symbol	NSPR
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 5,807	$ 9,384
Accounts receivable:
Trade, net	464	716
Other	186	104
Prepaid expenses	66	81
Inventory	1,447	1,134
TOTAL CURRENT ASSETS	7,970	11,419
NON-CURRENT ASSETS:
Property, plant and equipment, net	452	421
Right of use	1,104
Deferred issuance costs	49
Fund in respect of employee rights upon retirement	482	448
TOTAL NON-CURRENT ASSETS	2,087	869
TOTAL ASSETS	10,057	12,288
Accounts payable and accruals:
Trade	872	929
Other	1,740	1,966
Contract liability	25	25
TOTAL CURRENT LIABILITIES	2,637	2,920
LONG-TERM LIABILITIES-
Leasing liability	1,138
Liability for employees rights upon retirement	642	605
TOTAL LONG-TERM LIABILITIES	1,780	605
COMMITMENTS AND CONTINGENT LIABILITIES (Note 9)
TOTAL LIABILITIES	4,417	3,525
EQUITY:
Common stock, par value $0.0001 per share; 150,000,000 shares authorized at March 31, 2019 and December 31, 2018; 871,872 and 768,615 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively
Additional paid-in capital	156,439	156,355
Accumulated deficit	(150,799)	(147,592)
Total equity	5,640	8,763
Total liabilities and equity	10,057	12,288
Series B Preferred Stock [Member]
EQUITY:
Preferred stock value
Series C Preferred Stock [Member]
EQUITY:
Preferred stock value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	871,872	768,615
Common stock, shares outstanding	871,872	768,615
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	17,303	17,303
Preferred stock, shares outstanding	17,303	17,303
Series C Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,172,000	1,172,000
Preferred stock, shares issued	59,423	61,423
Preferred stock, shares outstanding	59,423	61,423

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
REVENUES	$ 415	$ 1,007
COST OF REVENUES	488	714
GROSS PROFIT (LOSS)	(73)	293
OPERATING EXPENSES:
Research and development	1,125	252
Selling and marketing	634	492
General and administrative	1,298	1,502
Total operating expenses	3,057	2,246
LOSS FROM OPERATIONS	(3,130)	(1,953)
FINANCIAL EXPENSES, net	77	436
LOSS BEFORE TAX EXPENSES	(3,207)	(2,389)
TAX EXPENSES
NET LOSS	$ (3,207)	$ (2,389)
NET LOSS PER SHARE - basic and diluted	$ (3.82)	$ (54)
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING NET LOSS PER SHARE - basic and diluted	839,533	45,079

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Series B Preferred Stock [Member]		Series C Preferred Stock [Member]		Series D Preferred Stock [Member]		Series B Convertible Preferred Stock [Member]		Series C Convertible Preferred Stock [Member]		Common Stock [Member]		Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017		[1]		[1]		[1]						[1]	$ 143,079	$ (140,352)	$ 2,727
Balance, shares at Dec. 31, 2017	27,075		741,651		750						30,106
Net loss														(2,389)	(2,389)
Issuance of common shares, net of $496 issuance costs												[1]	2,504		2,504
Issuance of common shares, net of $496 issuance costs, shares											20,000
Redemption of Series D Preferred Stock						[1]							(450)		(450)
Redemption of Series D Preferred Stock, shares					(450)
Conversion of Series B Preferred Stock to common shares		[1]										[1]	274		274
Conversion of Series B Preferred Stock to common shares, shares	(9,772)										1,613
Conversion of Series C Preferred Stock to common shares				[1]								[1]	936		936
Conversion of Series C Preferred Stock to common shares, shares			(289,956)								16,515
Classification of preferred shares													(3,200)		(3,200)
Accretion of redeemable preferred shares													47		47
Exercise of Unit Purchase Option												[1]	557		557
Exercise of Unit Purchase Option, shares											2,229
Share-based compensation related to restricted stock and stock options award													38		38
Balance at Mar. 31, 2018		[1]		[1]		[1]						[1]	143,785	(142,741)	1,044
Balance, shares at Mar. 31, 2018	17,303		451,695		300						70,463
Balance at Dec. 31, 2018								[1]		[1]		[1]	156,355	(147,592)	8,763
Balance, shares at Dec. 31, 2018							17,303		61,423		768,615
Net loss														(3,207)	(3,207)
Issuance of common shares, net of $496 issuance costs											$ 16,017
Issuance of common shares, net of $496 issuance costs, shares											32,034
Exercise of pre-funded warrants												[1]	16		16
Exercise of pre-funded warrants, shares											32,034
Conversion of Series C Convertible Preferred Stock to common shares										[1]
Conversion of Series C Convertible Preferred Stock to common shares, shares									(2,000)		854
Share-based compensation related to restricted stock and stock options award												[1]	68		68
Share-based compensation related to restricted stock and stock options award, shares											70,369
Balance at Mar. 31, 2019								[1]		[1]		[1]	$ 156,439	$ (150,799)	$ 5,640
Balance, shares at Mar. 31, 2019							17,303		59,423		871,872
[1]	Represents an amount less than $1 thousand

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Issuance costs	$ 0	$ 389,000
Restricted stock award, shares	212
Represents equity value, description	Represents an amount less than $1 thousand
Common Stock [Member]
Issuance costs		$ 496

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,207)	$ (2,389)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	35	41
Loss from sale of property, plant and equipment		11
Change in liability for employees rights upon retirement	37	433
Financial income and interest paid	5	38
Lease liability	34
Share-based compensation expenses	68
Loss on amounts funded in respect of employee rights upon retirement, net	5
Changes in operating asset and liability items:
Decrease in prepaid expenses	15	9
Decrease (Increase) in trade receivables	252	(111)
Increase in other receivables	(82)	(34)
Decrease (Increase) in inventory	(313)	16
(Decrease) increase in trade payables	(57)	184
(Decrease) increase in other payables and contract liability	(277)	22
Net cash used in operating activities	(3,485)	(1,780)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(66)	(1)
Amounts (withdrawn) in respect of employee rights upon retirement, net	(39)	(11)
Net cash used in investing activities	(105)	(12)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares and warrants and exercise of Pre-Funded Warrants and unit purchase option, net of $0 and $389 issuance costs, respectively	16	3,168
Redemption of series C and D preferred stock		(450)
Net cash provided by financing activities	16	2,718
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(3)	1
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(3,577)	927
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	9,384	3,710
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	5,807	4,637
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES:
Issuance Costs	49	262
Classification of Redemption Obligation of Preferred Shares to Mezzanine and Embedded Derivative		$ 1,943

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Cash Flows [Abstract]
Issuance costs	$ 0	$ 389

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	NOTE 1 - DESCRIPTION OF BUSINESS a. General InspireMD, Inc., a Delaware corporation (the “Company”), together with its subsidiaries, is a medical device company focusing on the development and commercialization of its proprietary MicroNet™ stent platform technology for the treatment of complex vascular and coronary disease. MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. The Company’s carotid product (CGuard™ EPS) combines MicroNet and a self-expandable nitinol stent in a single device to treat carotid artery disease. The Company’s coronary product combining MicroNet and a bare-metal stent (MGuard Prime™ EPS) is marketed for use in patients with acute coronary syndromes, notably acute myocardial infarction (heart attack) and saphenous vein graft coronary interventions (bypass surgery). The Company markets its products through distributors in international markets, mainly in Europe and Latin America. b. Liquidity The Company has an accumulated deficit as of March 31, 2019, as well as a history of net losses and negative operating cash flows in recent years. The Company expects to continue incurring losses and negative cash flows from operations until its products (primarily CGuard™ EPS) reach commercial profitability. As a result of these expected losses and negative cash flows from operations, along with the Company’s current cash position, the Company has sufficient resources to fund operations through the end of the fourth quarter of 2019. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. These financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. Management’s plans include the continued commercialization of the Company’s products and raising capital through the sale of additional equity securities, debt or capital inflows from strategic partnerships. There are no assurances however, that the Company will be successful in obtaining the level of financing needed for its operations. If the Company is unsuccessful in commercializing its products and raising capital, it may need to reduce activities, curtail or cease operations.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 2 - BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements. In the opinion of management, the financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the financial position and results of operations of the Company. These consolidated financial statements and notes thereto are unaudited and should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2018, as found in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 19, 2019. The results of operations for the three months ended March 31, 2019 are not necessarily indicative of results that could be expected for the entire fiscal year.

Recently Adopted and Issued Acc

Recently Adopted and Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Recently Adopted and Issued Accounting Pronouncements	NOTE 3 – RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS a. Newly issued accounting pronouncements 1) In February 2016, the FASB established ASC Topic 842, Leases (Topic 842), by issuing ASU No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the statement of operations. We adopted the new standard on January 1, 2019 using the modified retrospective transition method and we did not restate comparative periods. The new standard provides a number of optional practical expedients in transition. We have elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs for leases entered into prior to adoption of Topic 842. Additionally, we did not separate lease and non-lease components for all of our leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company will not recognize ROU assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. Instead, we will continue to recognize the lease payments for those leases in profit or loss on a straight-line basis over the lease term. The new standard had a material effect on the Company’s financial statements. The most significant effects of adoption relate to (1) the recognition of new ROU assets and lease liabilities on its balance sheet for real estate operating leases; and (2) providing significant new disclosures about its leasing activities. Upon adoption, we recognized additional operating lease liabilities, of approximately $1.2 million based on the present value of the remaining lease payments under current leasing standards for existing operating leases. The Company also recognized corresponding ROU assets of approximately $1.2 million. Lease terms may include options to extend or terminate the lease when the Company is reasonably certain that the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term. Our leases may include variable payments based on measures that include changes in price index which are expensed as incurred and presented as operating expense on the condensed consolidated statements of operations in the same line item as expense arising from fixed lease payments. The new standard also provides practical expedients for an entity’s ongoing accounting. Beginning in 2019, the Company changed to its disclosed lease recognition policies and practices, as well as to other related financial statement disclosures due to the adoption of this standard. See Note 9.

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Equity	NOTE 4 - EQUITY: a. On March 27, 2019, the Company filed with the Secretary of State of Delaware a Certificate of Amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a one-for-fifty reverse stock split of its common stock, par value $0.0001 per share, effective as of March 29, 2019. All related share and per share data have been retroactively applied to the financial statements and their related notes for all periods presented. b. During the three months ending March 31, 2019, the Company issued a total of 32,034 shares of its common stock in connection with the exercise of 32,034 Pre-Funded Warrants. The Company received aggregate cash proceeds equal to approximately $ 16,017 in connection with such exercises. As of March 31, 2019, the are no outstanding Pre-Funded Warrants. c. As of March 31, 2019, the Number of Preferred shares and the amount each class is convertible into is below: Number of Preferred Stock Number of underlying Common stock Series B Convertible Preferred Stock 17,303 66,617 Series C Convertible Preferred Stock 59,423 25,355 Total 91,972 * Including the shares of common stock the holders of Series B Convertible Preferred Stock are entitled to receive as cumulative dividends at the rate per share of 15% per annum of the stated value for five years, payable in cash or common stock, at the Company’s discretion, but excluding effect of future conversion price adjustment, if any. As of March 31, 2019, the Company has outstanding warrants to purchase an aggregate of 815,197 shares of common stock as follows: Number of underlying Common stock Weighted average exercise price Series A Warrants 1,102 $ 8,750 Series B Warrants 2,448 $ 3,500 Series D Warrants 806,698 $ 15.19 Other warrants 4,949 $ 11,258 Total Warrants 815,197 $ 105.71 As of March 31, 2019, the Company had 155,000,000 authorized shares of capital stock, par value $0.0001 per share, of which 150,000,000 are shares of common stock and 5,000,000 are shares of “blank check” preferred stock. On March 21, 2019, the stockholders approved the amendment of its Long Term Incentive Plan which was adopted by our board of directors on February 4, 2019, to increase the total number of shares of common stock issuable under such plan by 500,000 shares.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Loss Per Share	NOTE 5- NET LOSS PER SHARE: Set forth below is data taken into account in the computation of loss per share: March 31 2019 2018 ($ in thousands expect share and share data) Net Loss $ (3,207 ) $ (2,389 ) Extinguishment of series C preferred shares - (49 ) Adjusted Loss $ (3,207 ) $ (2,438 ) Weighted average of Common Stock outstanding during the period 839,533 45,079 Basic and diluted loss per share (dollars) (3.82 ) $ (54.00 ) The total number of shares of common stock related to outstanding options, warrants, restricted stock, Series C Preferred Stock and placement agent units excluded from the calculations of diluted loss per share were 913,320 for three month period ended March 31, 2019. The total number of shares of common stock related to outstanding options, warrants, restricted stock, Series C Preferred Stock, Series D Preferred Stock and placement agent units excluded from the calculations of diluted loss per share were 41,373 for the three-month period ended March 31, 2018.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 6 - FAIR VALUE MEASURMENT: Fair value of financial instruments The carrying amounts of financial instruments included in working capital approximate their fair value either because these amounts are presented at fair value or due to the relatively short-term maturities of such instruments. As of March 31, 2019, and December 31, 2018, allowance for doubtful accounts was $72,000.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory	NOTE 7 - INVENTORY: March 31, December 31, 2019 2018 ($ in thousands) Finished goods $ 216 $ 284 Work in process 340 111 Raw materials and supplies 891 739 $ 1,447 $ 1,134

Accounts Payable and Accruals -

Accounts Payable and Accruals - Other	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Accounts Payable and Accruals - Other	NOTE 8 - ACCOUNTS PAYABLE AND ACCRUALS - OTHER: March 31, December 31, 2019 2018 ($ in thousands) Employees and employee institutions 398 828 Accrued vacation and recreation pay 184 171 Accrued expenses 1,129 903 Provision for sales commissions - 37 Other 29 27 $ 1,740 $ 1,966

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 9 - COMMITMENTS AND CONTINGENT LIABILITIES: a. Lease Agreements 1) The Company’s Israeli subsidiary has a lease agreement for a facility in Israel, which expires on December 31, 2020 with an option to extend the agreement for two additional years until December 31, 2022 under the terms stipulated in the agreement. 2) The Company leases its motor vehicles under operating lease agreements. 3) Operating lease cost for the three months ended March 31, 2019 was comprised of the following: Three months ended March 31 2019 U.S. dollars in thousands Operating lease expense 86 Short-term lease expense 2 Variable lease expense - 88 Supplemental information related to leases are as follows: March 31 2019 U.S. dollars in thousands Operating lease right-of-use assets 1,104 Current Operating lease liabilities (338 ) Non-current operating lease liabilities (800 ) Other information: Operating cash flows from operating leases (cash paid in thousands) (85 ) Weighted Average Remaining Lease Term 1.27 Weighted Average Discount Rate 9.07 % Maturities of lease liabilities are as follows: Amount U.S. dollars in thousands 2019 (excluding the three months ended March 31, 2019) 266 2020 355 2021 356 2022 334 Total lease payments 1,311 Less imputed interest (173 ) Total 1,138 4) ASC 840 Disclosures The Company elected the modified retrospective transition method and included the following tables previously disclosed. Future contractual obligations under the abovementioned operating lease agreements (not including the extension option) as of December 31, 2018 are as follows: Amount U.S. dollars in thousands 2019 344 2020 355 2021 22 Total 721 b. Litigation: The Company received written communication from a distributor to provide unspecified compensation for pre-paid goods subject to the voluntary field action (from April 2014). After considering the views of its legal counsel as well as other factors, the Company’s management believes that there is a reasonably possible likelihood of a loss from any related future proceedings would range from a minimal amount up to 1,075,000 Euros. In July 2016, a service provider filed a suit seeking damages from the Company’s subsidiary amounting to $1,967,822. The Company’s subsidiary and the plaintiff have entered into a confidential settlement agreement in the amount of $600,000, and on April 24, 2019, the parties filed a stipulation of dismissal, dismissing all claims in this action. On April 25, 2019, the court denied as moot all pending motions. The related increase in provision of $354,000 was recorded to “Research and development expense” within the Consolidated Statements of Operations for the three months ended March 31, 2019.

Disaggregated Revenue and Entit

Disaggregated Revenue and Entity Wide Disclosures	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Disaggregated Revenue and Entity Wide Disclosures	NOTE 10 - DISAGGREGATED REVENUE AND ENTITY WIDE DISCLOSURES Revenues are attributed to geographic areas based on the location of the customers. The following is a summary of revenues: Three months ended March 31 2019 2018 ($ in thousands) Germany $ 128 $ 272 Italy 80 187 Other 207 548 $ 415 $ 1,007 By product: Three months ended March 31 2019 2018 ($ in thousands) CGuard $ 376 $ 831 MGuard 39 176 $ 415 $ 1,007 By principal customers: Three months ended March 31 2019 2018 Customer A 29 % 25 % Customer B 13 % 9 % All tangible long lived assets are located in Israel.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE 11 - SUBSEQUENT EVENTS a. On April 8, 2019, the Company closed an underwritten public offering of 486,957 shares of the Company’s common stock at the offering price to the public of $5.00 per share. The Company received net proceeds of approximately $2 million from the offering, after deducting underwriter discounts and commissions and other fees and expenses payable by the Company. As a result of such offering, the conversion price for each of the Series B Preferred Stock and Series C Preferred was reduced to $5.00 per share. In connection with this public offering, on April 12, 2019, the underwriter partially exercised its over-allotment option and purchased an additional 12,393 shares of our common stock at a price to the public of $5.00 per share. The Company received net proceeds of approximately $47,000 from the exercise of the over-allotment option. In connection with the offering, the Company agreed to issue to the underwriter warrants to purchase up to 34,955 shares of common stock, or 7% of the shares sold in the offering, including the shares issued pursuant to the over-allotment option (the “April Underwriter Warrants”). The April Underwriter Warrants will be exercisable at any time and from time to time, in whole or in part, following the date of issuance and ending April 8, 2026 at a price per share equal to $6.25 (125% of the offering price to the public per April 8, 2019 Share).

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Convertible Preferred Shares	c. As of March 31, 2019, the Number of Preferred shares and the amount each class is convertible into is below: Number of Preferred Stock Number of underlying Common stock Series B Convertible Preferred Stock 17,303 66,617 Series C Convertible Preferred Stock 59,423 25,355 Total 91,972 * Including the shares of common stock the holders of Series B Convertible Preferred Stock are entitled to receive as cumulative dividends at the rate per share of 15% per annum of the stated value for five years, payable in cash or common stock, at the Company’s discretion, but excluding effect of future conversion price adjustment, if any.
Schedule of Issuance of Warrants to Purchase Common Stock	As of March 31, 2019, the Company has outstanding warrants to purchase an aggregate of 815,197 shares of common stock as follows: Number of underlying Common stock Weighted average exercise price Series A Warrants 1,102 $ 8,750 Series B Warrants 2,448 $ 3,500 Series D Warrants 806,698 $ 15.19 Other warrants 4,949 $ 11,258 Total Warrants 815,197 $ 105.71

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Computation of Loss Per Share	Set forth below is data taken into account in the computation of loss per share: March 31 2019 2018 ($ in thousands expect share and share data) Net Loss $ (3,207 ) $ (2,389 ) Extinguishment of series C preferred shares - (49 ) Adjusted Loss $ (3,207 ) $ (2,438 ) Weighted average of Common Stock outstanding during the period 839,533 45,079 Basic and diluted loss per share (dollars) (3.82 ) $ (54.00 )

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	March 31, December 31, 2019 2018 ($ in thousands) Finished goods $ 216 $ 284 Work in process 340 111 Raw materials and supplies 891 739 $ 1,447 $ 1,134

Accounts Payable and Accruals_2

Accounts Payable and Accruals - Other (Tables)	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accruals - Other	March 31, December 31, 2019 2018 ($ in thousands) Employees and employee institutions 398 828 Accrued vacation and recreation pay 184 171 Accrued expenses 1,129 903 Provision for sales commissions - 37 Other 29 27 $ 1,740 $ 1,966

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Expense	3) Operating lease cost for the three months ended March 31, 2019 was comprised of the following: Three months ended March 31 2019 U.S. dollars in thousands Operating lease expense 86 Short-term lease expense 2 Variable lease expense - 88
Schedule of Supplemental Information Related to Leases	Supplemental information related to leases are as follows: March 31 2019 U.S. dollars in thousands Operating lease right-of-use assets 1,104 Current Operating lease liabilities (338 ) Non-current operating lease liabilities (800 ) Other information: Operating cash flows from operating leases (cash paid in thousands) (85 ) Weighted Average Remaining Lease Term 1.27 Weighted Average Discount Rate 9.07 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows: Amount U.S. dollars in thousands 2019 (excluding the three months ended March 31, 2019) 266 2020 355 2021 356 2022 334 Total lease payments 1,311 Less imputed interest (174 ) Total 1,138
Schedule of Future Contractual Obligations in Operating Lease	Future contractual obligations under the abovementioned operating lease agreements (not including the extension option) as of December 31, 2018 are as follows: Amount U.S. dollars in thousands 2019 344 2020 355 2021 22 Total 721

Disaggregated Revenue and Ent_2

Disaggregated Revenue and Entity Wide Disclosures (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Revenues Attributed to Geographic Areas	Revenues are attributed to geographic areas based on the location of the customers. The following is a summary of revenues: Three months ended March 31 2019 2018 ($ in thousands) Germany $ 128 $ 272 Italy 80 187 Other 207 548 $ 415 $ 1,007
Schedule of Revenues Attributed to Geographic Areas by Product	By product: Three months ended March 31 2019 2018 ($ in thousands) CGuard $ 376 $ 831 MGuard 39 176 $ 415 $ 1,007
Schedule of Revenues Attributed to Geographic Areas by Principal Customers	By principal customers: Three months ended March 31 2019 2018 Customer A 29 % 25 % Customer B 13 % 9 %

Recently Adopted and Issued A_2

Recently Adopted and Issued Accounting Pronouncements (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Operating lease liabilities	$ 1,200
Right of use of asset	$ 1,104

Equity (Details Narrative)

Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Mar. 27, 2019	Mar. 31, 2019	Mar. 31, 2018		Feb. 04, 2019	Dec. 31, 2018
Common stock, par value		$ 0.0001				$ 0.0001
Pre-funded warrants, shares		32,034
Proceeds from common stock shares issued			$ 2,504
Outstanding pre-funded warrants are exercisable into shares of common stock
Number of warrants to purchase common stock		815,197
Capital stock shares authorized		155,000,000
Capital stock par value		$ 0.0001
Common stock shares authorized		150,000,000				150,000,000
Long Term Incentive Plan [Member]
Increase in common stock shares issuable					500,000
Common Stock [Member]
Number of common stock shares issued		32,034	20,000
Proceeds from common stock shares issued		$ 16,017		[1]
Preferred Stock Blank Check [Member]
Preferred stock shares authorized		5,000,000
Secretary of State of Delaware a Certificate of Amendment [Member]
Reverse stock split	one-for-thirty-five reverse stock split.
Common stock, par value	$ 0.0001
[1]	Represents an amount less than $1 thousand

Equity - Schedule of Convertibl

Equity - Schedule of Convertible Preferred Shares (Details)	3 Months Ended
	Mar. 31, 2019shares
Class of Stock [Line Items]
Number of underlying common stock	91,972
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Number of preferred stock	17,303
Number of underlying common stock	66,617
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Number of preferred stock	59,423
Number of underlying common stock	25,355

Equity - Schedule of Converti_2

Equity - Schedule of Convertible Preferred Shares (Details) (Parenthetical)	3 Months Ended
	Mar. 31, 2019
Series B Convertible Preferred Stock [Member]
Cumulative dividend rate	15.00%

Equity - Schedule of Issuance o

Equity - Schedule of Issuance of Warrants to Purchase Common Stock (Details)	Mar. 31, 2019$ / sharesshares
Class of Warrant or Right [Line Items]
Total Warrants | shares	815,197
Weighted average exercise price | $ / shares	$ 105.71
Series A Warrants [Member]
Class of Warrant or Right [Line Items]
Total Warrants | shares	1,102
Weighted average exercise price | $ / shares	$ 8,750
Series B Warrants [Member]
Class of Warrant or Right [Line Items]
Total Warrants | shares	2,448
Weighted average exercise price | $ / shares	$ 3,500
Series D Warrants [Member]
Class of Warrant or Right [Line Items]
Total Warrants | shares	806,698
Weighted average exercise price | $ / shares	$ 15.19
Other Warrants [Member]
Class of Warrant or Right [Line Items]
Total Warrants | shares	4,949
Weighted average exercise price | $ / shares	$ 11,258

Net Loss Per Share (Details Nar

Net Loss Per Share (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Number of antidilutive securities excluded from computation of earnings per share	913,320	41,373

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Computation of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Loss	$ (3,207)	$ (2,389)
Extinguishment of series C preferred shares		(49)
Adjusted loss	$ (3,207)	$ (2,438)
Weighted average of Common Stock outstanding during the period	839,533	45,079
Basic and diluted loss per share (dollars)	$ (3.82)	$ (54)

Fair Value Measurement (Details

Fair Value Measurement (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Allowance for doubtful accounts	$ 72	$ 72

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 216	$ 284
Work in process	340	111
Raw materials and supplies	891	739
Total inventory	$ 1,447	$ 1,134

Accounts Payable and Accruals_3

Accounts Payable and Accruals - Other - Schedule of Accounts Payable and Accruals - Other (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Employees and employee institutions	$ 398	$ 828
Accrued vacation and recreation pay	184	171
Accrued expenses	1,129	903
Provision for sales commissions		37
Other	29	27
Accounts Payable and Accruals - Other	$ 1,740	$ 1,966

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details Narrative)	Apr. 25, 2019USD ($)	Jul. 31, 2016USD ($)	Mar. 31, 2019EUR (€)
Research and Development Expense [Member]
Increase in provision amount	$ 354,000
Former Service Provider [Member] | InspireMD GmbH [Member]
Law suit seeking damages		$ 1,967,822
Plaintiff amount		$ 600,000
Former Service Provider [Member] | Euro [Member]
Maximum amount of claim | €			€ 1,075,000

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Schedule of Lease Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 86
Short-term lease expense	2
Variable lease expense
Total lease expenses	$ 88

Commitments and Contingent Li_5

Commitments and Contingent Liabilities - Schedule of Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Operating lease right-of-use assets	$ 1,104
Current Operating lease liabilities	(1,200)
Non-current operating lease liabilities	(1,138)
Lease Agreements [Member]
Operating lease right-of-use assets	1,104
Current Operating lease liabilities	(338)
Non-current operating lease liabilities	(800)
Operating cash flows from operating leases	$ (85)
Weighted Average Remaining Lease Term description	1.27 years
Weighted Average Discount Rate	9.07%

Commitments and Contingent Li_6

Commitments and Contingent Liabilities - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 266
2020	355
2021	356
2022	334
Total lease payments	1,311
Less imputed interest	(173)
Total	$ 1,138

Commitments and Contingent Li_7

Commitments and Contingent Liabilities - Schedule of Future Contractual Obligations in Operating Lease (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 344
2020	355
2021	22
Total	$ 721

Disaggregated Revenue and Ent_3

Disaggregated Revenue and Entity Wide Disclosures - Schedule of Revenues Attributed to Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 415	$ 1,007
Germany [Member]
Revenues	128	272
Italy [Member]
Revenues	80	187
Other [Member]
Revenues	$ 207	$ 548

Disaggregated Revenue and Ent_4

Disaggregated Revenue and Entity Wide Disclosures - Schedule of Revenues Attributed to Geographic Areas by Product (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 415	$ 1,007
CGuard™ EPS [Member]
Segment Reporting Information [Line Items]
Revenue	376	831
MGuard Prime™ EPS [Member]
Segment Reporting Information [Line Items]
Revenue	$ 39	$ 176

Disaggregated Revenue and Ent_5

Disaggregated Revenue and Entity Wide Disclosures - Schedule of Revenues Attributed to Geographic Areas by Principal Customers (Details) - Sales [Member]	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Customer A [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	29.00%	25.00%
Customer B [Member]
Segment Reporting Information [Line Items]
Percentage of revenues per major customer	13.00%	9.00%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Apr. 12, 2019	Apr. 08, 2019	Mar. 31, 2019
Warrants to purchase common stock			815,197
Subsequent Event [Member] | Underwriter Warrants [Member]
Stock issued price per shares		$ 6.25
Percentage for shares of common stock sold		7.00%
Percentage for gross proceeds of offering		125.00%
Subsequent Event [Member] | Underwriter Warrants [Member] | Maximum [Member]
Warrants to purchase common stock		34,955
Subsequent Event [Member] | Public Offering [Member]
Number of public offering, shares	12,393	486,957
Stock issued price per shares	$ 5	$ 5
Proceeds from public offering	$ 47	$ 2,000
Subsequent Event [Member] | Public Offering [Member] | Series B Preferred Stock and Series C Preferred Stock [Member]
Conversion price per shares		$ 5