SPO Global (SPOM) 10-Q 13 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 13, 2013
Document And Entity Information	'	'
Entity Registrant Name	'SPO Global Inc	'
Entity Central Index Key	'0000716778	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	5,155,608
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'

Condensed_Interim_Consolidated

Condensed Interim Consolidated Balance Sheets (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified
CURRENT ASSETS	'		'
Cash and cash equivalents	$236		$24
Prepaid expenses and other accounts receivable	20		10
Total current assets	256		34
LONG TERM INVESTMENTS	'		'
Severance pay fund	152		142
PROPERTY AND EQUIPMENT,NET	21		'
Total net assets	429		176
Current Liabilities	'		'
Short-term loans	944		1,081
Trade payables	123		5
Employees and Payroll accruals	718		563
Accrued expenses and other liabilities	494		502
Current liabilities, Total	2,279		2,151
Long-Term Liabilities	'		'
Warrants to issue shares	'		18
Long-Term Loans	518		375
Accrued severance pay	257		235
Long-term liabilities, Total	775		628
STOCKHOLDERS' DEFICIENCY	'		'
Preferred stock $0.01 par value Authorized - 2,000,000 shares, issued and outstanding - 100 and 0 Series A shares at September 30, 2013 and December 31, 2012, respectively	'	[1]	'
Common stock $0.01 par value - Authorized - 100,000,000 shares, issued and outstanding - 4,969,148 and 2,823,177 shares as at September 30, 2013 and December 31, 2012 , respectively	50	[2]	28	[2]
Additional paid-in capital	18,825	[2]	18,369	[2]
Accumulated deficit	-21,500		-21,000
Stockholders' Equity Attributable to Parent, Total	-2,625		-2,603
Total liabilities and stockholders' deficiency	429		176
Series A Preferred Stock	'		'
STOCKHOLDERS' DEFICIENCY	'		'
Preferred stock $0.01 par value Authorized - 2,000,000 shares, issued and outstanding - 100 and 0 Series A shares at September 30, 2013 and December 31, 2012, respectively	'	[1]	'
Total liabilities and stockholders' deficiency	'		'
[1]	Less than $1
[2]	The number of shares have been adjusted retroactively to reflect the one for twenty reverse split of our shares of common stock implemented on October 7, 2013.

Condensed_Interim_Consolidated1

Condensed Interim Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Common stock, par value	$0.01	$0.01
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	4,969,148	2,823,177
Common stock, outstanding	4,969,148	2,823,177
Series A Preferred Stock	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, authorized	2,000,000	2,000,000
Preferred stock, issued	100	'
Preferred stock, outstanding	100	'

Condensed_Interim_Consolidated2

Condensed Interim Consolidated Statements Of Operations (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Income Statement [Abstract]	'		'		'		'
Revenues	$245		$278		$494		$278
Cost of revenues	199		231		409		231
Gross profit	46		47		85		47
Operating expenses	'		'		'		'
Research and development	'		5		'		5
Selling and marketing	18		125		35		382
General and administrative	138		83		351		220
Total operating expenses	156		213		386		607
Operating loss	-110		-166		-301		-560
Financial expense, net	-61		-5		-199		-90
Net Loss for the period	($171)		($171)		($500)		($650)
Basic and diluted loss per share	($0.04)	[1]	($0.08)	[1]	($0.13)	[1]	($0.31)	[1]
Weighted average number of shares outstanding used in computation of basic loss per share	4,671,544	[1]	2,232,487	[1]	3,744,787	[1]	2,100,786	[1]
[1]	The number of shares have been adjusted retroactively to reflect the one for twenty reverse split of our shares of common stock implemented on October 7, 2013.

Condensed_Interim_Statements_O

Condensed Interim Statements Of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities	'	'
Net Loss for the period	($500)	($650)
Adjustments to reconcile loss to net cash used in operating activities:	'	'
Depreciation	8	'
Non-cash expenses related to convertible debt	91	57
Stock-based compensation expenses related to employees, service providers	'	378
Non-cash expense related to warrants to issue shares	-18	-1
Changes in assets and liabilities:	'	'
Increase in accrued interest payable on loans	52	24
(Increase) in prepaid expenses and other receivables	-10	-7
Increase in trade payables	118	6
Increase in accrued severance pay, net	12	5
Increase (decrease) in accrued expenses and other liabilities	171	-62
Net cash used in operating activities	-76	-250
Cash Flows from Investing Activities	'	'
Purchase of property	29	'
Net cash used in investing activities	-29	'
Cash Flows from Financing Activities	'	'
Proceeds from sale of shares and warrants, net of issuance costs	227	'
Payments of loans	-14	-26
Proceeds from loan	104	316
Net cash provided by financing activities	317	290
Increase in cash and cash equivalents	212	40
Cash and cash equivalents at the beginning of the period	24	37
Cash and cash equivalents at the end of the period	236	77
Non cash transactions	'	'
Conversion of convertible debt to shares	135	68
Exercise of warrants in consideration of concession of debt	24	22
Discount on convertible notes recognized to beneficial conversion feature	80	'
Reduced exercise price of warrants in consideration of concession of debt	12	'
Supplemental Disclosure Of Cash Flow Information:	'	'
Cash paid during the period for interest	$59	$21

General

General	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
General	'
	NOTE 1    -     General
	SPO Global Inc. (hereinafter referred to as "SPO" or the "Company") is engaged in the design, development and marketing of non-invasive pulse oximetry technologies to measure blood oxygen saturation and heart rate. The applications are marketed, in the following sectors; professional medical care, homecare, sports, safety and search & rescue.
	The Company was originally incorporated under the laws of the State of Delaware in September 1981 under the name "Applied DNA Systems, Inc." On November 16, 1994, the Company changed its name to "Nu-Tech Bio-Med, Inc." On December 23, 1998, the Company changed its name to "United Diagnostic, Inc." Effective April 21, 2005, the Company acquired (the "Acquisition Transaction") 100% of the outstanding capital stock of SPO Medical Equipment Ltd., a company incorporated under the laws of the State of Israel ("SPO Ltd."), pursuant to a Capital Stock Exchange Agreement dated as of February 28, 2005 between the Company, SPO Ltd. and the shareholders of SPO Ltd., as amended and restated on April 21, 2005 (the "Exchange Agreement"). In exchange for the outstanding capital stock of SPO Ltd., the Company issued to the former shareholders of SPO Ltd. a total of 5,769,106 (288,456 post reverse stock split) shares of the Company's common stock, par value $0.01 per share ("Common Stock"), representing approximately 90% of the Common Stock then issued and outstanding after giving effect to the Acquisition Transaction. As a result of the Acquisition Transaction, SPO Ltd. became a wholly owned subsidiary of the Company as of April 21, 2005 and, subsequent to the Acquisition Transaction, the Company changed its name to "SPO Medical Inc.". Upon consummation of the Acquisition Transaction, the Company effectuated a forward subdivision of the Company's Common Stock issued and outstanding on a 2.65285:1 basis.
	The merger between UNDI and the SPO Ltd. was accounted for as a reverse merger. As the shareholders of SPO Ltd. received the largest ownership interest in the Company, SPO Ltd. was determined to be the "accounting acquirer" in the reverse acquisition. As a result, the historical financial statements of the Company were replaced with the historical financial statements of the SPO Ltd.
	Effective October 4, 2013, the Company changed its corporate name to “SPO Global Inc.”.
	The Company implemented the previously approved 1-for-20 reverse stock split on October 7, 2013. All share and per share amounts and calculations in these financial statements have been retroactively adjusted to reflect the effects of the reverse stock split.

Basis_Of_Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Basis of presentation	'
	NOTE 2    -     Basis of Presentation
	The accompanying un-audited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with Rule 8-03 of Regulation S-X. These financial statements reflect all adjustments, consisting of normal recurring adjustments and accruals, which are, in the opinion of management, necessary for a fair presentation of the financial position of the Company as of September 30, 2013 and the results of operations and cash flows for the interim periods indicated in conformity with generally accepted accounting principles applicable to interim periods. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. Operating results for the three and nine months ended September 30, 2013, are not necessarily indicative of the results that may be expected for the year ended December 31, 2013.
	Certain prior years' amounts have been reclassified in conformity with current year's financial statements.

Going_Concern

Going Concern	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Going concern	'
	NOTE 3    -     Going Concern
	As reflected in the accompanying financial statements, the Company’s operations for the nine months ended September 30, 2013, resulted in a net loss of $500 and the Company’s balance sheet reflects a net stockholders’ deficit of $2,625. The Company’s ability to continue operating as a “going concern” is dependent on its ability to generate additional revenues or raise additional working capital. As disclosed in previous filings with the Securities and Exchange Commission, management has been attempting to raise additional cash from current and potential stockholders and, in May 2013, the Company raised net proceeds of $227 from accredited investors. While it has no commitments for additional amounts, the Company plans to continue its capital raising efforts. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

Loans_Payable

Loans Payable	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Loans payable	'
	NOTE 4   - Loans Payable
	On January 4, 2013, the Company entered into a Convertible Note Agreement pursuant to which the Company received a loan in the principal amount of $32.5. The scheduled maturity date of the note is January 4, 2014. The note bears interest at a per annum rate of 8%. Commencing June 18, 2013, the Investor is entitled to convert all or any part of the outstanding and unpaid principal amount on the note, as well as the interest accrued, into shares of the Company’s Common Stock at a conversion rate equal to 55% of the average of the five lowest closing sale prices during the ten days preceding the conversion date. As of September 30, 2013 the Note was paid by conversion to stock.
	On February 5, 2013, the Company entered into a Convertible Note Agreement pursuant to which the Company received an additional loan in the principal amount of $32.5 from the above referenced investor. The scheduled maturity date of the note is February 5, 2014. The note bears interest at a per annum rate of 8%. Commencing July 28, 2013, the Investor is entitled to convert all or any part of the outstanding and unpaid principal amount on the note, as well as the interest accrued, into shares of the Company’s Common Stock at a conversion rate equal to 55% of the average of the five lowest closing sale prices during the ten days preceding the conversion date. As of September 30, 2013 the Note was paid by conversion to stock.
	On April 12, 2013, the Company entered into a Convertible Note Agreement pursuant to which the Company received an additional loan in the principal amount of $32.5 from the above referenced investor. The scheduled maturity date of the note is April 12, 2014. The note bears interest at a per annum rate of 8%. Commencing October 9, 2013, the Investor is entitled to convert all or any part of the outstanding and unpaid principal amount on the note, as well as the interest accrued, into shares of the Company’s Common Stock at a conversion rate equal to 55% of the average of the five lowest closing sale prices during the ten days preceding the conversion date.
	The Company negotiated new payment terms for certain loans with principal balances totaling $75. The original due dates ranging from September through November 2013 were extended for an additional 18 months. The conversion prices of these loans were changed to $0.025 ($0.50 post reverse stock split).
	The Company negotiated new payment terms for certain loans with principal balances totaling $425. The original due dates ranging from June through November 2013 were extended for an additional 18 months. The conversion prices of these loans and the exercise prices of associated warrants were changed to $0.025 ($0.50 post reverse stock split).

Stockholders_Equity

Stockholders Equity	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Stockholders equity	'
	NOTE 5    -     Stockholders Equity
	Issuance of Securities
	On May 8, 2013, the Company entered into a Subscription Agreement with two accredited investors (the “Investors”), pursuant to which the Company sold and issued to the Investors (the “Private Placement”) a total of 10,000,000 (500,000 post reverse stock split) shares of the Company's Common Stock for proceeds of $227, net of issuance expenses. In connection with the Private Placement, warrants (the “Warrants”) for an additional 5,000,000 (250,000 post reverse stock split) shares of the Company’s Common Stock were issued to one of the Investors. The Warrants are exercisable through May 8, 2018 at a per share exercise price of $0.10 ($2.00 post reverse stock split).
	On May 29, 2013, the Company issued 2,366,639 (118,332 post reverse stock split) shares to satisfy an obligation to issue shares.
	On August 26, 2013, the Company designated 100 shares of its preferred stock as Series A Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”).  Among other things, the Certificate of Designation for the Series A Preferred Stock provides that each one share of Series A Preferred Stock has voting rights equal to (x) 0.019607 multiplied by the total issued and outstanding Common Stock eligible to vote at the time of the respective vote (the "Numerator"), divided by (y) 0.49, minus (z) the Numerator. On August 26, 2013, the Company entered into a Preferred Stock Purchase Agreement pursuant to which it issued one hundred (100) shares of its Series A Preferred Stock to its Chief Executive Officer. The Series A Preferred Stock has no economic value and was issued solely for voting purposes.
	During the nine months ended September 30, 2013, the Company issued 30,552,769 (1,527,639 post reverse stock split) shares of its common stock upon conversion of $135 in principal and accrued interest of convertible promissory notes.
	The Company declared a 1-for-20 reverse stock split with an effective date of October 7, 2013. All share and per share amounts and calculations in these financial statements have been retroactively adjusted to reflect the effects of the reverse stock split.

Financial_Expenses

Financial Expenses	9 Months Ended
	Sep. 30, 2013
Other Income and Expenses [Abstract]	'
Financial expenses	'
	NOTE 6    -     Financial Expenses
	Financial expenses for the nine months ended September 30, 2013 and 2012 are comprised of the following:
		2013			2012
	Non-cash expenses related to convertible debt	$	(91	)	$	(57	)
	Non-cash expenses related to warrants to issue shares		18			11
	Interest in respect of debt instruments		(111	)		(84	)
	Exchange rate differences caused by fluctuations in the exchange rate with the New Israeli Shekel (“NIS”) on liabilities denominated in NIS held by the subsidiary		(15	)		7
	Forgiven interest		—			33
		$	(199	)	$	(90	)

Subsequent_Event

Subsequent Event	9 Months Ended
	Sep. 30, 2013
DisclosureSubsequentEventAbstract	'
Subsequent event	'
	NOTE 7    -     Subsequent Event
	Effective October 7, 2013, the Company implemented a 1-for-20 reverse stock split.

Financial_Expenses_Tables

Financial Expenses (Tables)	9 Months Ended
	Sep. 30, 2013
Other Income and Expenses [Abstract]	'
Schedule of financial expense	'
	Financial expenses for the nine months ended September 30, 2013 and 2012 are comprised of the following:
		2013			2012
	Non-cash expenses related to convertible debt	$	(91	)	$	(57	)
	Non-cash expenses related to warrants to issue shares		18			11
	Interest in respect of debt instruments		(111	)		(84	)
	Exchange rate differences caused by fluctuations in the exchange rate with the New Israeli Shekel (“NIS”) on liabilities denominated in NIS held by the subsidiary		(15	)		7
	Forgiven interest		—			33
		$	(199	)	$	(90	)

Financial_Expenses_Details

Financial Expenses (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Financial Expenses Details	'	'	'	'
Non-cash expenses related to convertible debt	'	'	$91	$57
Non-cash expenses related to warrants to issue shares	'	'	18	11
Interest in respect of debt instruments	'	'	111	84
Exchange rate differences caused by fluctuations in the exchange rate with the New Israeli Shekel ("NIS") on liabilities denominated in NIS held by the subsidiary	'	'	-15	7
Forgiven interest	'	'	'	33
Financial expense, net	($61)	($5)	($199)	($90)

General_Narrative_Details

General (Narrative) (Details) (SPO Medical Equipment Limited, USD $)	0 Months Ended
	Apr. 21, 2005
SPO Medical Equipment Limited	'
Business Acquisition [Line Items]	'
Outstanding capital stock acquired, percentage	100.00%
Common stock issued to former shareholders	5,769,106
No.of shares issued as a result of reverse stock split	288,456
Common stock, price per share	$0.01
Forward subdivision of the company common stock issued and outstanding	'Upon consummation of the Acquisition Transaction, the Company effectuated a forward subdivision of the Company's Common Stock issued and outstanding on a 2.65285:1 basis.
Common stock acquired, percentage	90.00%

Loans_Payable_Narrative_Detail

Loans Payable (Narrative) (Details) (USD $)	9 Months Ended		0 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Jan. 04, 2013	Feb. 05, 2013	Apr. 12, 2013
	Loans Payable With Principal Balance Of $75	Loans Payable With Principal Balance Of $425	Convertible Note Agreement-January 4, 2013	Convertible Note Agreement-February 5, 2013	Convertible Note Agreement-April 12, 2013
Debt Instrument [Line Items]	'	'	'	'	'
Proceeds from convertible notes	'	'	$32,500	$32,500	$32,500
Debt instrument maturity date	'	'	4-Jan-14	5-Feb-14	12-Apr-14
Convertible note interest rate	'	'	8.00%	8.00%	8.00%
Debt instrument conversion terms	'	'	'Commencing June 18, 2013, the Investor is entitled to convert all or any part of the outstanding and unpaid principal amount on the note, as well as the interest accrued, into shares of the Company's Common Stock at a conversion rate equal to 55% of the average of the five lowest closing sale prices during the ten days preceding the conversion date.	'Commencing July 28, 2013, the Investor is entitled to convert all or any part of the outstanding and unpaid principal amount on the note, as well as the interest accrued, into shares of the Company's Common Stock at a conversion rate equal to 55% of the average of the five lowest closing sale prices during the ten days preceding the conversion date.	'Commencing October 9, 2013, the Investor is entitled to convert all or any part of the outstanding and unpaid principal amount on the note, as well as the interest accrued, into shares of the Company's Common Stock at a conversion rate equal to 55% of the average of the five lowest closing sale prices during the ten days preceding the conversion date.
New debt instrument terms	'	'	'	'	'
	The Company negotiated new payment terms for certain loans with principal balances totaling $75. The original due dates ranging from September through November 2013 were extended for an additional 18 months. The conversion prices of these loans were changed to $0.025 ($0.50 post reverse stock split).	The Company negotiated new payment terms for certain loans with principal balances totaling $425. The original due dates ranging from June through November 2013 were extended for an additional 18 months. The conversion prices of these loans and the exercise prices of associated warrants were changed to $0.025 ($0.50 post reverse stock split).
		~

Stockholders_Equity_Narrative_

Stockholders Equity (Narrative) (Details) (USD $)	9 Months Ended		0 Months Ended				0 Months Ended	9 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Aug. 26, 2013	Sep. 30, 2013	Dec. 31, 2012	Aug. 26, 2013	29-May-13	Sep. 30, 2013	8-May-13	8-May-13
			Series A Preferred Stock	Series A Preferred Stock	Series A Preferred Stock	Series A Preferred Stock	Common Stock	Common Stock	Private Placement - Two Accredited Investors	Private Placement - One of the Two Accredited Investors
						Chief Executive Officer		Convertible Promissory Note	Common Stock	Warrants
Common stock sold and issued to investors	'	'	'	'	'	'	'	'	10,000,000	'
Proceeds from sale of common stock to investors, net of issuane expenses	$227	'	'	'	'	'	'	'	$227	'
No.of shares issued as a result of reverse stock split	'	'	'	'	'	'	118,332	1,527,639	500,000	250,000
Warrants issued	'	'	'	'	'	'	'	'	'	5,000,000
Warrants exercisable date	'	'	'	'	'	'	'	'	'	8-May-18
Excercise price of warrants	'	'	'	'	'	'	'	'	'	$0.10
Excercise price of warrants post reverse stock split	'	'	'	'	'	'	'	'	'	$2
Shares of common stock issued in conversion of debt	'	'	'	'	'	'	2,366,639	30,552,769	'	'
Debt conversion original debt amount	$135	$68	'	'	'	'	'	$135	'	'
Preferred stock voting rights	'	'	'	'	'	'	'	'	'	'
			On August 26, 2013, the Company designated 100 shares of its preferred stock as Series A Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”).  Among other things, the Certificate of Designation for the Series A Preferred Stock provides that each one share of Series A Preferred Stock has voting rights equal to (x) 0.019607 multiplied by the total issued and outstanding Common Stock eligible to vote at the time of the respective vote (the "Numerator"), divided by (y) 0.49, minus (z) the Numerator.
Preferred stock issued, share	'	'	'	100	'	100	'	'	'	'

Subsequent_Event_Narrative_Det

Subsequent Event (Narrative) (Details) (Subsequent Event)	0 Months Ended
	Oct. 07, 2013
Subsequent Event	'
Reverse stock split	'1-for-20