Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 14, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | DarioHealth Corp. | |
Entity Central Index Key | 1,533,998 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | DRIO | |
Entity Common Stock, Shares Outstanding | 16,743,896 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
CURRENT ASSETS: | |||
Cash and cash equivalents | $ 7,041 | $ 3,718 | |
Short-term bank deposits | 188 | 258 | |
Trade Receivables | 200 | 282 | |
Inventories | 912 | 1,184 | |
Other accounts receivable and prepaid expenses | 566 | 604 | |
Total current assets | 8,907 | 6,046 | |
LEASE DEPOSITS | 45 | 42 | |
PROPERTY AND EQUIPMENT, NET | 828 | 869 | |
Total assets | 9,780 | 6,957 | |
CURRENT LIABILITIES: | |||
Trade payables | 1,112 | 1,852 | |
Other accounts payable and accrued expenses | 1,297 | 1,163 | |
Total current liabilities | 2,409 | 3,015 | |
LIABILITY RELATED TO WARRANTS | 0 | [1] | 1 |
STOCKHOLDERS' EQUITY | |||
Common Stock of $0.0001 par value - Authorized: 160,000,000 shares at March 31, 2018 (unaudited) and December 31, 2017; Issued and Outstanding: 16,480,164 and 14,074,238 shares at March 31, 2018 (unaudited) and December 31, 2017, respectively | 7 | 7 | |
Preferred Stock of $0.0001 par value - Authorized: 5,000,000 shares at March 31, 2018 (unaudited) and December 31, 2017; Issued and Outstanding: 1,234,080 and None shares at March 31, 2018 (unaudited) and December 31, 2017, respectively | 0 | [1] | 0 |
Additional paid-in capital | 81,241 | 74,892 | |
Accumulated deficit | (73,877) | (70,958) | |
Total stockholders' equity | 7,371 | 3,941 | |
Total liabilities and stockholders' equity | $ 9,780 | $ 6,957 | |
[1] | Represents an amount lower than $1. |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 160,000,000 | 160,000,000 |
Common stock, shares issued | 16,480,164 | 14,074,238 |
Common stock, shares, outstanding | 16,480,164 | 14,074,238 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 1,234,080 | 0 |
Preferred stock, shares outstanding | 1,234,080 | 0 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues | $ 1,756 | $ 1,007 |
Cost of revenues | 1,204 | 901 |
Gross profit | 552 | 106 |
Operating expenses: | ||
Research and development | 742 | 469 |
Sales and marketing | 1,824 | 1,825 |
General and administrative | 861 | 2,017 |
Total operating expenses | 3,427 | 4,311 |
Operating loss | (2,875) | (4,205) |
Financial expenses, net: | ||
Revaluation of warrants | (1) | 1,195 |
Other financial expense, net | 45 | 13 |
Total financial expenses, net | 44 | 1,208 |
Net loss | (2,919) | (5,413) |
Net loss attributable to holders of Common Stock | $ (2,919) | $ (5,413) |
Net loss per share | ||
Basic and diluted loss per share (in dollars per share) | $ (0.20) | $ (0.75) |
Weighted average number of Common Stock used in computing basic and diluted net loss per share (in shares) | 14,943,032 | 7,195,801 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) - USD ($) $ in Thousands | Total | Common Stock [Member] | Preferred Stock [Member] | Additional paid-in capital | Accumulated deficit [Member] | ||||
Balance at Dec. 31, 2016 | $ (6,541) | $ 6 | $ 0 | $ 48,413 | $ (54,960) | ||||
Balance (in shares) at Dec. 31, 2016 | 5,713,383 | 0 | |||||||
Issuance of Common Stock, net of issuance cost | 9,470 | $ 1 | $ 0 | 9,469 | 0 | ||||
Issuance of Common Stock, net of issuance cost (in shares) | 3,754,770 | 0 | |||||||
Payment for executives and directors under Stock for Salary Program | 707 | $ 0 | [1] | $ 0 | 707 | 0 | |||
Payment for executives and directors under Stock for Salary Program (in shares) | 271,880 | 0 | |||||||
Issuance of Common Stock to Employees | 1,514 | $ 0 | [1] | $ 0 | 1,514 | 0 | |||
Issuance of Common Stock to Employees (in shares) | 474,880 | 0 | |||||||
Issuance of Common Stock to consultants and service provider | 874 | $ 0 | [1] | $ 0 | 874 | 0 | |||
Issuance of Common Stock to consultants and service provider (in shares) | 281,681 | 0 | |||||||
Reclassification of warrants from liability to equity on March 8, 2017 | 8,655 | $ 0 | $ 0 | 8,655 | 0 | ||||
Exercise of options | 0 | [1] | $ 0 | [1] | $ 0 | 0 | [1] | 0 | |
Exercise of options (in shares) | 91,855 | 0 | |||||||
Issuance of Preferred Stock, net of issuance cost | 3,711 | $ 0 | $ 0 | [1] | 3,711 | 0 | |||
Issuance of Preferred Stock, net of issuance cost (in shares) | 0 | 2,307,654 | |||||||
Issuance of Common stock in November 2017 warrant exchange agreement | 0 | [1] | $ 0 | [1] | $ 0 | 0 | 0 | ||
Issuance of Common stock in November 2017 warrant exchange agreement (in shares) | 1,039,676 | 0 | |||||||
Conversion of Preferred Stock to Common Stock | 0 | $ 0 | [1] | $ 0 | [1] | 0 | 0 | ||
Conversion of Preferred Stock to Common Stock (in shares) | 2,307,654 | (2,307,654) | |||||||
Deemed dividend related to Stock dividend | 0 | $ 0 | [1] | $ 0 | 255 | (255) | |||
Deemed dividend related to Stock dividend (in shares) | 138,459 | 0 | |||||||
Stock-based compensation | 1,294 | $ 0 | $ 0 | 1,294 | 0 | ||||
Net loss | (15,743) | 0 | 0 | 0 | (15,743) | ||||
Balance at Dec. 31, 2017 | 3,941 | $ 7 | $ 0 | 74,892 | (70,958) | ||||
Balance (in shares) at Dec. 31, 2017 | 14,074,238 | 0 | |||||||
Issuance of Common Stock, net of issuance cost | 2,865 | $ 0 | [1] | $ 0 | 2,865 | 0 | |||
Issuance of Common Stock, net of issuance cost (in shares) | 2,262,269 | 0 | |||||||
Payment for executives and directors under Stock for Salary Program | 161 | $ 0 | [1] | $ 0 | 161 | 0 | |||
Payment for executives and directors under Stock for Salary Program (in shares) | 102,548 | 0 | |||||||
Issuance of Common Stock to consultants and service provider | 60 | $ 0 | [1] | $ 0 | 60 | 0 | |||
Issuance of Common Stock to consultants and service provider (in shares) | 41,109 | 0 | |||||||
Issuance of Preferred Stock, net of issuance cost | 3,124 | $ 0 | $ 0 | [1] | 3,124 | 0 | |||
Issuance of Preferred Stock, net of issuance cost (in shares) | 0 | 1,234,080 | |||||||
Stock-based compensation | 139 | $ 0 | $ 0 | 139 | 0 | ||||
Net loss | (2,919) | 0 | 0 | 0 | (2,919) | ||||
Balance at Mar. 31, 2018 | $ 7,371 | $ 7 | $ 0 | [1] | $ 81,241 | $ (73,877) | |||
Balance (in shares) at Mar. 31, 2018 | 16,480,164 | 1,234,080 | |||||||
[1] | Represents an amount lower than $1. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (2,919) | $ (5,413) |
Adjustments required to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation and Common Stock to service providers | 230 | 1,585 |
Depreciation | 53 | 43 |
Decrease (increase) is trade receivables | 82 | (256) |
Decrease (increase) in accounts receivables and prepaid expenses | 38 | (210) |
Decrease in inventories | 272 | 39 |
Decrease in trade payables | (740) | (328) |
Increase in other accounts payable and accrued expenses | 219 | 262 |
Change in fair value of warrants to purchase shares of Common Stock | (1) | 1,195 |
Net cash used in operating activities | (2,766) | (3,083) |
Cash flows from investing activities: | ||
Maturities of short-term bank deposit | 70 | 0 |
Investment in lease deposits | (3) | (9) |
Purchase of property and equipment | (12) | 0 |
Net cash provided by (used in) investing activities | 55 | (9) |
Cash flows from financing activities: | ||
Proceeds from issuance of Common Stock and warrants, net of issuance cost | 6,034 | 4,816 |
Net cash provided by financing activities | 6,034 | 4,816 |
Increase in cash and cash equivalents | 3,323 | 1,724 |
Cash and cash equivalents at the beginning of the period | 3,718 | 1,093 |
Cash and cash equivalents at the end of the period | 7,041 | 2,817 |
Non-cash investing and financing activities: | ||
Reclassification of warrants from liability to Common Stock | 0 | 8,655 |
Payment for directors and Consultants under Shares for Salary Program | $ 85 | $ 183 |
GENERAL
GENERAL | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1:- GENERAL a. DarioHealth Corp. (formerly LabStyle Innovations Corp.) (the “Company”) was incorporated in Delaware and commenced operations on August 11, 2011. The Company is a digital health (mHealth) company that is developing and commercializing a patented and proprietary technology providing consumers with laboratory-testing capabilities using smart phones and other mobile devices. The Company’s flagship product, Dario TM TM TM b. The Company’s wholly owned subsidiary, LabStyle Innovation Ltd. (“Ltd.” or “Subsidiary”), was incorporated and commenced operations on September 14, 2011 in Israel. Its principal business activity is to hold the Company’s intellectual property and to perform research and development, manufacturing, marketing and other business activities. Ltd. has a wholly-owned subsidiary, LabStyle Innovations US LLC, a Delaware limited liability company (“LabStyle US”), which was established in 2014, however it has not started its operations to date and was dissolved at the end of 2017. c. During the three months ended March 31, 2018, the Company incurred operating losses and negative cash flows from operating activities amounting to $ 2,919 2,766 These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. d. On March 4, 2016, the Company's Common Stock and warrants were approved for listing on NASDAQ Capital Market under the symbols “DRIO” and “DRIOW,” respectively . |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 2: - SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies applied in the audited annual consolidated financial statements of the Company as disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 are applied consistently in these unaudited interim consolidated financial statements. |
UNAUDITED INTERIM FINANCIAL STA
UNAUDITED INTERIM FINANCIAL STATEMENTS | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting [Text Block] | NOTE 3: - UNAUDITED INTERIM FINANCIAL STATEMENTS The accompanying unaudited interim consolidated financial statements as of March 31, 2018, have been prepared in accordance with U.S. generally accepted accounting principles and standards of the Public Company Accounting Oversight Board for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In the opinion of management, the unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair presentation of the Company's consolidated financial position as of March 31, 2018, and the Company's consolidated results of operations and the Company's consolidated cash flows for the three months ended March 31, 2018. Results for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. |
INVENTORIES
INVENTORIES | 3 Months Ended |
Mar. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | NOTE 4: - INVENTORIES March 31, December 31, 2018 2017 Unaudited Raw materials $ 195 $ 323 Finished products 717 861 $ 912 $ 1,184 During the three months’ period ended March 31, 2018, and the year ended December 31, 2017, total inventory write-off expenses amounted to $ 6 190 |
COMMITMENTS AND CONTINGENT LIAB
COMMITMENTS AND CONTINGENT LIABILITIES | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 5: - COMMITMENTS AND CONTINGENT LIABILITIES From time to time the Company is involved in claims and legal proceedings. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 6:- STOCKHOLDERS' EQUITY a. In January 2018, 102,548 161 b. In January 2018, 8,859 c. On February 28, 2018 and March 6, 2018, the Company closed two concurrent private placements offerings consisting of 2,262,269 1.40 1,234,080 6,623 6,034 2.80 3,784,351 2,468,160 1.40 In conjunction with these offerings the Company issued 32,250 d. Stock option compensation: Number of Weighted Weighted Aggregate $ Years $ Options outstanding at beginning of year 1,378,160 7.39 4.75 437 Options granted - - Options exercised - - Options expired - - Options forfeited (10,000) 4.62 Options outstanding at period end (unaudited) 1,368,160 7.44 4.78 420 Options vested and expected to vest at period end (unaudited) 1,253,165 7.63 4.49 420 Exercisable at period end (unaudited) 916,017 9.58 4.32 363 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company's closing stock price on the last day of the first quarter of 2018 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on March 31, 2018. This amount is impacted by the changes in the fair market value of the Common Stock. As of March 31, 2018, the total amount of unrecognized stock-based compensation expense was approximately $ 906 0.91 Three months ended 2018 2017 Unaudited Cost of revenues $ 10 $ 54 Research and development 42 71 Sales and marketing 44 123 General and administrative 134 1,337 Total stock-based compensation expenses $ 230 $ 1,585 |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE 7:- FAIR VALUE MEASUREMENTS Accounting Standards Codification 820, “Fair Value Measurements and Disclosures” (“ASC 820”), defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. ASC 820 also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities; Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. On September 23, 2014, the Company consummated a private placement (the “September 2014 Private Placement”). The warrants issued in the September 2014 Private Placement contain a net settlement cash feature and liquidated damages penalties and therefore the Company accounts for such warrants as a liability according to the provisions of ASC 815-40 “Contracts in entity’s own equity,” and re-measures such liability using the Black-Scholes-Merton March 31, Risk-free interest rate (1) 1.93 % Expected volatility (2) 77.69 % Expected life (in years) (3) 0.48 Expected dividend yield (4) 0 % Fair value per warrant $ 0.0004 (1) Risk-free interest rate - based on yield rates of non-index linked U.S. Federal Reserve treasury bonds. (2) Expected volatility - was calculated based on actual historical stock price movements of the Company together with companies in the same industry over a term that is equivalent to the expected term of the option. (3) Expected life - the expected life was based on the expiration date of the warrants. (4) Expected dividend yield - was based on the fact that the Company has not paid dividends to its shareholders in the past and does not expect to pay dividends to its shareholders in the future. (5) The changes in Level 3 liabilities associated with the warrants are measured at fair value on a recurring basis. Fair value Balance on December 31, 2017 $ 1 Change in fair value of warrants during the period (1) Balance at March 31, 2018 (unaudited) $ *) - *) Represents an amount lower than $1. |
FINANCIAL EXPENSES, NET
FINANCIAL EXPENSES, NET | 3 Months Ended |
Mar. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | NOTE 8:- FINANCIAL EXPENSES, NET 2018 2017 Unaudited Bank and credit card charges $ 42 $ 5 Foreign currency translation adjustments 3 8 Change in fair value of warrants (1) 1,195 Total financial expenses, net $ 44 $ 1,208 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 9:- SUBSEQUENT EVENTS a. In April 2018, 188,092 b. In April 2018, the Company's Compensation Committee of the Board of Directors approved the grants of 75,640 93,755 c. In May 2018, the Company’s Board of Directors approved the entrance into exchange agreements with certain company warrant holders who were granted warrants to purchase shares of Common Stock on March 2016 and January 2017. Pursuant to the terms of the Exchange Agreement, the warrant holders who will agree to surrender their warrants to purchase an aggregate of 1,020,357 636,752 |
INVENTORIES (Tables)
INVENTORIES (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | March 31, December 31, 2018 2017 Unaudited Raw materials $ 195 $ 323 Finished products 717 861 $ 912 $ 1,184 |
STOCKHOLDERS' EQUITY (Tables)
STOCKHOLDERS' EQUITY (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Transactions related to the grant of options to employees, directors and non-employees under the above plans during the three-month period ended March 31, 2018, were as follows: Number of Weighted Weighted Aggregate $ Years $ Options outstanding at beginning of year 1,378,160 7.39 4.75 437 Options granted - - Options exercised - - Options expired - - Options forfeited (10,000) 4.62 Options outstanding at period end (unaudited) 1,368,160 7.44 4.78 420 Options vested and expected to vest at period end (unaudited) 1,253,165 7.63 4.49 420 Exercisable at period end (unaudited) 916,017 9.58 4.32 363 |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | The total compensation cost related to all of the Company's equity-based awards recognized during the three-month period ended March 31, 2018, and 2017 was comprised as follows: Three months ended 2018 2017 Unaudited Cost of revenues $ 10 $ 54 Research and development 42 71 Sales and marketing 44 123 General and administrative 134 1,337 Total stock-based compensation expenses $ 230 $ 1,585 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Warrants Fair Value [Table Text Block] | March 31, Risk-free interest rate (1) 1.93 % Expected volatility (2) 77.69 % Expected life (in years) (3) 0.48 Expected dividend yield (4) 0 % Fair value per warrant $ 0.0004 (1) Risk-free interest rate - based on yield rates of non-index linked U.S. Federal Reserve treasury bonds. (2) Expected volatility - was calculated based on actual historical stock price movements of the Company together with companies in the same industry over a term that is equivalent to the expected term of the option. (3) Expected life - the expected life was based on the expiration date of the warrants. (4) Expected dividend yield - was based on the fact that the Company has not paid dividends to its shareholders in the past and does not expect to pay dividends to its shareholders in the future. (5) The changes in Level 3 liabilities associated with the warrants are measured at fair value on a recurring basis. |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following tabular presentation reflects the components of the liability associated with such warrants as of March 31, 2018: Fair value Balance on December 31, 2017 $ 1 Change in fair value of warrants during the period (1) Balance at March 31, 2018 (unaudited) $ *) - *) Represents an amount lower than $1. |
FINANCIAL EXPENSES, NET (Tables
FINANCIAL EXPENSES, NET (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | 2018 2017 Unaudited Bank and credit card charges $ 42 $ 5 Foreign currency translation adjustments 3 8 Change in fair value of warrants (1) 1,195 Total financial expenses, net $ 44 $ 1,208 |
GENERAL (Details Textual)
GENERAL (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Organization And Presentation Of Financial Statements [Line Items] | ||
Operating Income (Loss) | $ (2,875) | $ (4,205) |
Net Cash Provided by (Used in) Operating Activities | $ (2,766) | $ (3,083) |
INVENTORIES (Details)
INVENTORIES (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Inventory [Line Items] | ||
Raw materials | $ 195 | $ 323 |
Finished products | 717 | 861 |
Inventory, Net | $ 912 | $ 1,184 |
INVENTORIES (Details Textual)
INVENTORIES (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Inventory [Line Items] | ||
Inventory Write-down | $ 6 | $ 190 |
STOCKHOLDERS' EQUITY (Details)
STOCKHOLDERS' EQUITY (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options outstanding at beginning of year, Number of options | 1,378,160 | |
Options granted, Number of options | 0 | |
Options exercised, Number of options | 0 | |
Options expired, Number of options | 0 | |
Options forfeited, Number of options | (10,000) | |
Options outstanding at end of year, Number of options | 1,368,160 | |
Options vested and expected to vest at end of year, Number of options | 1,253,165 | |
Exercisable at end of year, Number of options | 916,017 | |
Options outstanding at beginning of year, Weighted average exercise price | $ 7.39 | |
Options granted, Weighted average exercise price | 0 | |
Options exercised, Weighted average exercise price | 0 | |
Options expired, Weighted average exercise price | 0 | |
Options forfeited, Weighted average exercise price | 4.62 | |
Options outstanding at end of year, Weighted average exercise price | 7.44 | |
Options vested and expected to vest at end of year, Weighted average exercise price | 7.63 | |
Exercisable at end of year, Weighted average exercise price | $ 9.58 | |
Options outstanding at, Weighted average remaining contractual life | 4 years 9 months 11 days | 4 years 9 months |
Options vested and expected to vest at end of year, Weighted average remaining contractual life | 4 years 5 months 26 days | |
Exercisable at end of year, Weighted average remaining contractual life | 4 years 3 months 25 days | |
Options outstanding, Aggregate Intrinsic value | $ 420 | $ 437 |
Options vested and expected to vest at end of year, Aggregate Intrinsic value | 420 | |
Exercisable at end of year, Aggregate Intrinsic value | $ 363 |
STOCKHOLDERS' EQUITY (Details 1
STOCKHOLDERS' EQUITY (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expenses | $ 230 | $ 1,585 |
Cost of revenues [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expenses | 10 | 54 |
Research and development [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expenses | 42 | 71 |
Sales, Marketing and pre-production costs [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expenses | 44 | 123 |
General and administrative [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expenses | $ 134 | $ 1,337 |
STOCKHOLDERS' EQUITY (Details T
STOCKHOLDERS' EQUITY (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 06, 2018 | Feb. 28, 2018 | Jan. 31, 2018 | Jan. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | |||||||
Issuance of Common Stock in April 2017 Public offering, net of issuance cost | $ 2,865 | $ 9,470 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 906 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 10 months 28 days | ||||||
Proceeds from Issuance of Private Placement | $ 6,034 | ||||||
Due to Related Parties | $ 161 | $ 161 | |||||
Equity Incentive Plan 2012 [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 8,859 | ||||||
Series C Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Issuance of Common Stock in April 2017 Public offering, net of issuance cost | $ 6,623 | ||||||
Stock Issued During Period, Shares, New Issues | 1,234,080 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,468,160 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.40 | ||||||
Common Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Issuance of Common Stock in April 2017 Public offering, net of issuance cost | $ 0 | [1] | $ 1 | ||||
Stock Issued During Period, Shares, New Issues | 2,262,269 | 3,784,351 | 2,262,269 | 3,754,770 | |||
Warrants To Purchase Common Stock Exercise Price Per Share | $ 2.80 | ||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 102,548 | 271,880 | |||||
Shares Issued, Price Per Share | $ 1.40 | $ 1.40 | |||||
Board of Director and Officers [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 102,548 | ||||||
Service Provider [Member] | Amended and Restated 2012 Equity Incentive Plan [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 32,250 | ||||||
[1] | Represents an amount lower than $1. |
FAIR VALUE MEASUREMENTS (Detail
FAIR VALUE MEASUREMENTS (Details) - Investors Warrants [Member] - September 2014 Private Placement [Member] | 3 Months Ended | |
Mar. 31, 2018$ / shares | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Risk-free interest rate | 1.93% | [1] |
Expected volatility | 77.69% | [2] |
Expected life (in years) | 5 months 23 days | [3] |
Expected dividend yield | 0.00% | [4] |
Fair value per warrant | $ 0.0004 | [5] |
[1] | Risk-free interest rate - based on yield rates of non-index linked U.S. Federal Reserve treasury bonds. | |
[2] | Expected volatility - was calculated based on actual historical stock price movements of the Company together with companies in the same industry over a term that is equivalent to the expected term of the option. | |
[3] | Expected life - the expected life was based on the expiration date of the warrants. | |
[4] | Expected dividend yield - was based on the fact that the Company has not paid dividends to its shareholders in the past and does not expect to pay dividends to its shareholders in the future. | |
[5] | The changes in Level 3 liabilities associated with the warrants are measured at fair value on a recurring basis. The following tabular presentation reflects the components of the liability associated with such warrants as of March 31, 2018: |
FAIR VALUE MEASUREMENTS (Deta27
FAIR VALUE MEASUREMENTS (Details 1) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($) | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Balance on December 31, 2017 | $ 1 | |
Change in fair value of warrants during the period | (1) | |
Balance at March 31, 2018 | [1] | |
[1] | Represents an amount lower than $1. |
FINANCIAL EXPENSES, NET (Detail
FINANCIAL EXPENSES, NET (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Selected Statements Of Operations Data [Line Items] | ||
Bank and credit card charges | $ 42 | $ 5 |
Foreign currency translation adjustments | 3 | 8 |
Change in fair value of warrants | (1) | 1,195 |
Total financial expenses, net | $ 44 | $ 1,208 |
SUBSEQUENT EVENTS (Details Text
SUBSEQUENT EVENTS (Details Textual) - Subsequent Event [Member] - shares | 1 Months Ended | |
Apr. 30, 2018 | May 14, 2018 | |
Subsequent Event [Line Items] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 636,752 | |
Class of Warrant or Right, Outstanding | 1,020,357 | |
Employees Directors And Consultants [Member] | ||
Subsequent Event [Line Items] | ||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 75,640 | |
Employees [Member] | ||
Subsequent Event [Line Items] | ||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 93,755 | |
Board of Director and Officer [Member] | Amended and Restated 2012 Equity Incentive Plan [Member] | ||
Subsequent Event [Line Items] | ||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 188,092 |