Equity [Text Block] | Note 10 – Equity Common Shares On April 17, 2018, stock options previously granted by the Company were exercised, resulting in the issuance of 481,179 common shares at $0.01 per share for total proceeds of $4,812. On June 20, 2018, the Company issued 117,660 shares at $0.20 per share for an aggregate amount of $23,532 in exchange for consulting services rendered during the year ended December 31, 2018. On August 24, 2018, the Company issued 16,665 common shares at $0.20 per share for total proceeds of $3,333 for stock options that were exercised during the year ended December 31, 2018. On August 27, 2018, stock options previously granted by the Company to a consultant were exercised resulting in the issuance of 800,000 common shares at $0.01 per share. The Company will receive consulting services from this consultant in 2019 in lieu of receiving cash proceeds from this issuance. On September 7, 2018, the Company issued an aggregate of 2,300,000 units at a price of $0.20 per unit for gross proceeds of $460,000. Each unit is comprised of one common share of the Company and one non-transferable common share purchase warrant with each warrant being exercisable into one additional share at an exercise price of $0.20 per warrant share for a period of two years after the closing of the financing. On December 18, 2018, the Company issued 78,625 shares at $0.20 per share for an aggregate amount of $15,725 in respect of future consulting services to be rendered up from January 1, 2019 to December 31, 2019. On December 19, 2018, the Company issued an aggregate of 605,585 units at a price of $0.20 per unit. The total proceeds consist of $95,000 which was previously recorded as a share subscription received on the balance sheet with the remaining gross proceed of $26,117 received in 2018. Each unit comprises one share and one non-transferable common stock share purchase warrant. Each warrant entitles the holder to acquire one additional share of common stock at a price of $0.20 per share until December 19, 2020.On December 19, 2018, the Company issued an aggregate of 500,000 units at a price of $0.20 per unit for total proceeds of $100,000. Each unit comprises one share and one non-transferable common stock share purchase warrant. Each warrant entitles the holder to acquire of $0.20 per share until December 19, 2020. On March 4, 2019, the Company issued an aggregate of 1,252,000 common shares at a price of $0.20 per share for gross proceeds of $250,400. On March 4, 2019, the Company issued 50,000 shares at $0.20 per share for an aggregate amount of $10,000, for proceeds received in previous year. On March 4, 2019, an employee exercised 500,000 options and accordingly received 500,000 common shares at an exercise price of $0.01 per share for aggregate consideration of $5,000. Warrants A summary of warrants as at June 30, 2019 and December 31, 2018 is as follows: Warrant Outstanding Weighted Average Number of warrant Exercise Price Balance, December 31, 2018 5,186,835 $ 0.20 Granted 1,920,985 0.20 Expired (1,693,750 ) 0.20 Balance, June 30, 2019 5,414,070 $ 0.20 Number Outstanding Weighted Average Expiry Date Weighted Average Exercise Price Remaining Life 2,300,000 $0.20 September 7, 2020 1.19 87,500 $0.20 September 17, 2021 2.22 1,105,585 $0.20 December 19, 2020 1.47 618,985 $0.20 April 12, 2021 1.79 1,302,000 $0.20 March 4, 2021 1.68 5,414,070 $0.20 1.45 Preferred Shares The Company has authorized 20,000,000 preferred shares at a par value of $0.001 per share. No preferred shares have been issued by the Company and accordingly none are outstanding. Stock Options In August 2015 the Company granted a total of 1,730,000 stock options to four advisors of the Company. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for six-seven years. One third of the options will vest at end of each completed year for which the consultant provides the services. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation ofnil (2018: $9,382) for such options. On November 22, 2015 the Company granted a total of 50,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest at the grant date of each of November 22, 2016, November 22, 2017 and November 22, 2018 that the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For quarter ended March 31, 2019, the Company recorded stock based compensation ofnil (2018: $3,392) for such options. On December 1, 2015 the Company granted a total of 125,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest at the grant date of each of December 1, 2016, December 1, 2017 and December 1, 2018 that the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation ofnil (2018: $1,987) for such options. On December 6, 2015 the Company granted a total of 100,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest at the grant date of each of December 6, 2016, December 6, 2017 and December 6, 2018 that the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation ofnil (2018: $1,658) for such options. On February 15, 2016 the Company granted a total of 50,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest on each of the first, second and third anniversaries of the date of grant provided the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. During the six months ended June 30, 2018, 16,667 options were exercised at $0.20 per share resulting in total proceeds of $3,333. The remainder options 33,333 were cancelled and no stock based compensation was recorded for the six months ended June 30, 2019. On March 7, 2016 the Company granted a total of 75,000 stock options to two employees. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest on each of the first, second and third anniversaries of the date of grant provided the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $126 (2018: $843) for such options. On May 5, 2016 the Company granted a total of 150,000 stock options to an consultant. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for ten years. One third of the options will vest on each of the first, second and third anniversaries of the date of grant provided the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019 the Company recorded stock based compensation of $636 (2018: $2,086) for such options. On June 6, 2016 the Company granted a total of 800,000 stock options to a consultant. The stock options are exercisable at the exercise price of $0.20 per share and may be exercised for five years. 480,000 of the options so granted will vest as to one quarter of such options at the end of each completed year that the consultant provides the services. The remaining 320,000 options will be fully vested when the consultant has completed the provision of a minimum of 600 blood samples of lung cancer and control patients during the 4 years following June 6, 2016. One twelfth of these options will vest upon each 50 blood samples having been delivered by the consultant On November 1, 2016, the Company granted a total of 360,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One half of the options will vest immediately and one-half shall vest on the on the first anniversary date of grant provided the grantee remains a board member of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of nil (2018: nil). On May 31, 2017, the Company granted a total of 875,000 stock options to six employees. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest on each of the first, second and third anniversaries of the date of grant provided the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $15,314 (2018: $47,930) for such options. On July 2, 2017, the Company granted a total of 150,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest on each of the first, second and third anniversaries of the grant date provided the provided the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $2,832 (2018: $9,144) for such options. On July 12, 2017, the Company granted a total of 260,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for ten years. 50,000 options vested on grant date. Off the remaining 210,000, one third of the options will vest on each of the first, second and third anniversaries of the grant date provided the employee remains a consultant of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $4,172 (2018: $12,314) for such options. On February 13, 2018, the Company granted a total of 231,250 stock options to a consultant. The stock options vest immediately and are exercisable at an exercise price of $0.20 per share and may be exercised over five years. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of nil (2018: $26,317) for such options. On June 22, 2018, the Company granted a total of 4,100,000 stock options to a group of employees. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest on each of the first, second and third anniversaries of the date of grant, namely June 22, 2019, June 22, 2020 and June 22, 2021 provided the employees remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $168,720 (2018: $182,608) for such options. On June 22, 2018, the Company granted a total of 1,500,000 stock options to an employee. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One quarter of the options will vest immediately. The remaining 1,125,000 options will vest in equal amounts on each of June 22, 2019, June 22, 2020 and June 22, 2021 provided the employee remains an employee of the Company or its subsidiaries. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $46,096 (2018; $102,090) for such options. On June 22, 2018, the Company granted a total of 200,000 stock options to a consultant. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One third of the options will vest on each of June 22, 2019, June 22, 2020 and June 22, 2021. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $7,758 (2018: $8,432) for such options. On June 22, 2018, the Company granted a total of 4,000,000 stock options to a consultant. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. One quarter of the options vest on the date of grant, and a further quarter will vest on each of June 22, 2019, June 22, 2020 and June 22, 2021. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $116,359 (2018: $265,751) for such options. On June 22, 2018, the Company granted a total of 4,600,000 stock options to a group of employees, consultants and directors. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for seven years. The options vest immediately on grant date. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of nil (2018: $640,432) for such options. On July 18, 2018, the Company granted a total of 360,000 stock options to a consultant. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for ten years. 150,000 of the options vest on the date of grant, and one third of the options will vest at the end of each year of service as at July 18, 2019, 2020 and 2021. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $10,106 (2018: $34,548) for such options. On September 12, 2018, the Company granted a total of 150,000 stock options to a consultant. The stock options are exercisable at an exercise price of $0.20 per share and may be exercised for ten years. 30,000 of the options vest on the date of grant, and 40,000 of the options will vest at the end of each year of service as at September 12, 2019, 2020 and 2021. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $5,965 (2018: $8,709) for such options. On September 14, 2018, the Company granted a total of 105,000 stock options to a consultant. The stock options are exercisable at an exercise price of $0.20 per share and expired on April 25, 2023. 15,000 options vested at the end of each 7 months of services. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of $2,901 (2018: $2,072) for such options. On November 22, 2018, the Company granted a total of 250,000 stock options to a consultant. The stock options vest immediately and are exercisable at an exercise price of $0.20 per share and may be exercised over seven years. The options were valued based on the Black Scholes model. For the six months ended June 30, 2019, the Company recorded stock based compensation of nil (2018: $212,893) for such options. The fair value of each option grant is calculated using the following assumptions: 2019 2018 Expected life – year 5—10 5—10 Interest rate 1.53% - 2.86% 1.53% - 2.86% Volatility 55.54% - 77.08% 65.68% - 94.22% Dividend yield —-% —-% Forfeiture rate —-% —-% Weighted average fair value of options granted $0.13 $0.13 Number of Options Weighted Expire date Average Exercise Price Balance, December 31, 2016 17,345,896 $ 0.05 Granted, on May 31, 2017 875,000 0.20 May 31, 2024 Expired, July 1, 2017 (75,000 ) 0.20 Granted, on July 2, 2017 150,000 0.20 July 2, 2024 Granted, on July 12, 2017 260,000 0.200 July 12, 2027 Exercised, on September 25, 2017 (150,000 ) 0.01 Balance, December 31, 2017 18,405,896 $ 0.04 Granted, on February 13, 2018 231,250 0.20 February 13, 2023 Exercised, on January 28, 2018 (16,665 ) 0.20 Cancelled, on January 28 2018 (33,335 ) 0.20 Exercised, on March 20, 2018 (481,179 ) 0.001 Granted, on June 22, 2018 14,400,000 0.20 June 22, 2025 Granted, on July 18, 2018 360,000 0.20 July 18, 2028 Exercised, on August 14, 2018 (800,000 ) 0.01 Granted, on September 12, 2018 150,000 0.20 September 12, 2028 Granted, on September 14, 2018 105,000 0.20 April 25, 2023 Expired, on September 28, 2018 (25,000 ) 0.20 Granted, on November 22, 2018 250,000 0.20 November 22, 2025 Balance, December 31, 2018 32,545,967 $ 0.13 Exercised on March 04, 2019 (500,000 ) 0.20 Balance, June 30, 2019 32,045,967 $ 0.13 Outstanding June 30, 2019 Exercisable as at June 30, 2019 Weighted Weighted Weighted Average Weighted Average Average Remaining Average Remaining Exercise Number of Exercise Contractual Number of Exercise Contractual Price Options Price Life (years) Options Price Life (years) $ 0.01 9,750,000 $ 0.01 3.18 9,750,000 $ 0.01 3.18 0.01 1,924,717 0.01 1.37 1,924,717 0.01 1.37 0.20 150,000 0.20 0.82 150,000 0.20 0.82 0.20 120,000 0.20 2.16 120,000 0.20 2.16 0.20 1,610,000 0.20 3.11 1,610,000 0.20 3.11 0.20 75,000 0.20 3.18 75,000 0.20 3.18 0.20 50,000 0.20 3.40 50,000 0.20 3.40 0.20 100,000 0.20 3.44 100,000 0.20 3.44 0.20 125,000 0.20 3.42 125,000 0.20 3.42 0.20 75,000 0.20 3.69 75,000 0.20 3.69 0.20 150,000 0.20 6.85 150,000 0.20 6.85 0.20 800,000 0.20 1.94 626,667 0.20 1.94 0.20 360,000 0.20 4.34 360,000 0.20 4.34 0.20 850,000 0.20 4.92 570,834 0.20 4.92 0.20 150,000 0.20 5.01 50,000 0.20 5.01 0.20 260,000 0.20 8.04 120,000 0.20 8.04 0.20 231,250 0.20 3.63 231,250 0.20 3.63 0.20 4,100,000 0.20 5.98 1,366,667 0.20 5.98 0.20 1,500,000 0.20 5.99 750,000 0.20 5.99 0.20 200,000 0.20 5.99 66,667 0.20 5.99 0.20 4,000,000 0.20 5.99 2,000,000 0.20 5.99 0.20 4,600,000 0.20 5.99 4,600,000 0.20 5.99 0.20 360,000 0.20 9.06 150,000 0.20 9.06 0.20 105,000 0.20 3.82 15,000 0.20 3.82 0.20 150,000 0.20 9.21 30,000 0.20 9.21 0.20 250,000 0.20 6.40 250,000 0.20 6.40 32,045,967 $ 0.13 4.53 25,316,802 $ 0.10 2.82 Non-Controlling Interests The Company’s subsidiary, Savicell, granted a third party a warrant certificate to purchase 1,765 common shares of Savicell that initially represented 15% of the underlying common equity of Savicell. In the course of its initial equity issuances up to October 30, 2012 (the “Initial Closing”), Savicell issued a total of 592 ordinary shares at $1,698.97 per share to the non-related third party representing approximately 4.79% of the fully diluted common equity of Savicell for aggregate proceeds of $1,005,795. The Savicell investors are entitled to convert their Savicell shares into common shares of ODT (1:10,625) at a price equal to 80% of the per share pricing of the first completed ODT financing of over $500,000 conducted after July 1, 2012 (the “Financing Price”) provided that for purposes of such conversion, the deemed maximum Financing Price shall be the per share price of the common shares of ODT based on (a) an aggregate ODT equity valuation of $30,000,000; and (b) the number of common shares of ODT outstanding at the time of the financing. Savicell continued its equity issuances following the Initial Closing. As at December 31, 2012, Savicell had issued a total of 684 shares at $1,698.97 per share representing approximately 5.11% of the fully diluted common equity of Savicell for aggregate proceeds of $1,162,192. During the year ended December 31, 2013, Savicell issued a total of 760 shares at $1,700 per share representing approximately 5.68% of the fully diluted common equity of Savicell for aggregate proceeds of $1,292,000. During the year ended December 31, 2014, Savicell issued a total of 183 shares at $1,699 per share representing approximately 1.37% of the fully diluted common equity of Savicell for aggregate proceeds of $310,977. During the year ended December 31, 2015, Savicell issued a total of 417 shares at $1,700 per share to third parties for aggregate proceeds of $709,087. As at December 31, 2015, Savicell also issued 516 shares at $1,700 to ODT, which of $532,084 has not been received as at December 31, 2015. In addition, Savicell investors exchanged 588 Savicell shares for 6,248,672 of ODT common shares with ODT receiving the Savicell shares so exchanged. During the year ended December 31, 2016, Savicell investors exchanged 1,132 Savicell shares for 12,026,654 of ODT common shares with ODT receiving the Savicell shares so exchanged. As at December 31, 2016, Savicell received $1,786,656 from ODT and issued 1,051 shares to ODT in return. During the year ended December 31, 2017, Savicell investors exchanged 27 Savicell shares for 288,830 of ODT common shares with ODT receiving the Savicell shares so exchanged. Savicell issued 387 shares to settle inter-company debts with ODT. During the year ended December 31, 2018, Savicell issued 1,467 shares to settle inter-company debts with ODT. The Company, the Warrant holder and the Savicell investors held underlying interests in the equity of Savicell of 87.81%, 10.43% and 1.76%, respectively (December 31, 2017 - 86.65%, 11.42% and 1.93%). During the six months ended June 30, 2019, Savicell investors exchanged 89 Savicell shares for 756,480 of ODT Common Shares with ODT receiving the Savicell shares so exchanged. As at June 30, 2019, The Company, the Warrant holder and the Savicell investors held underlying interests in the equity of Savicell of 87.87%, 10.37% and 1.76%, respectively (December 31, 2018 – 87.81%, 10.43% and 1.76%). Savicell’s Common Shares Number Amount in NIS of Shares Balance, December 31, 2017 15,450 6,264,821 Shares issued to settle inter—company debts 1,467 2,494,219 Balance, December 31, 2018 16,917 8,759,040 Shares issued to settle inter—company debts 89 151,296 Balance, June 30, 2019 17,006 8,910,336 As the exercise price inherent in the warrant certificate to purchase 1,765 common shares of Savicell is at nominal value, the warrant certificate is valued at the price of the subsequent equity issuance by Savicell ($1,698.97 per share) and the related common shares are considered to be issued and outstanding. |