SPO Global (SPOM) 10-Q 14 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 14, 2014
Document And Entity Information	'	'
Entity Registrant Name	'SPO Global Inc.	'
Entity Central Index Key	'0000716778	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
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	'	6,418,368
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Condensed_Interim_Consolidated

Condensed Interim Consolidated Balance Sheets (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS	'		'
Cash and cash equivalents	$137		$286
Prepaid expenses and other accounts receivable	213		61
Total current assets	350		347
LONG TERM INVESTMENTS	'		'
Severance pay fund	172		168
PROPERTY AND EQUIPMENT, NET	20		22
Total net assets	542		537
Current Liabilities	'		'
Short-term loans	1,366		700
Trade payables	37		38
Employees and Payroll accruals	869		774
Accrued expenses and other liabilities	543		531
Current liabilities, Total	2,815		2,043
Long-Term Liabilities	'		'
Long-Term Loans	464		882
Accrued severance pay	283		271
Long-term liabilities, Total	747		1,153
STOCKHOLDERS' DEFICIENCY	'		'
Preferred stock $0.01 par value Authorized - 2,000,000 shares, issued and outstanding - 100 Series A shares at June 30, 2014 and December 31, 2013, respectively	'	[1]	'	[1]
Common stock $0.01 par value-Authorized - 100,000,000 shares, issued and outstanding - 6,127,599 and 5,305,608 shares as at June 30, 2014 and December 31, 2013, respectively	62	[2]	53	[2]
Additional paid-in capital	18,975		18,971
Accumulated deficit	-22,057		-21,683
Stockholders' equity attributable to parent, total	-3,020		-2,659
Total liabilities and stockholders' deficiency	542		537
Series A Preferred Stock	'		'
STOCKHOLDERS' DEFICIENCY	'		'
Preferred stock $0.01 par value Authorized - 2,000,000 shares, issued and outstanding - 100 Series A shares at June 30, 2014 and December 31, 2013, respectively	'	[1]	'	[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 common stock dated October 7, 2013.

Condensed_Interim_Consolidated1

Condensed Interim Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Common stock, par value	$0.01	$0.01
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	6,127,599	5,305,608
Common stock, outstanding	6,127,599	5,305,608
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	100
Preferred stock, outstanding	100	100

Condensed_Interim_Consolidated2

Condensed Interim Consolidated Statements Of Operations (USD $)	3 Months Ended				6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Income Statement [Abstract]	'		'		'		'
Revenues	$22		$100		$50		$249
Cost of revenues	0		85		2		210
Gross profit	22		15		48		39
Operating expenses	'		'		'		'
Research and development	'		'		6		'
Selling and marketing	16		17		32		17
General and administrative	115		97		236		213
Total operating expenses	131		114		274		230
Operating loss	-109		-99		-226		-191
Financial expense, net	-92		-83		-148		-138
Net Loss for the period	($201)		($182)		($374)		($329)
Basic and diluted loss per share	($0.03)	[1]	($0.05)	[1]	($0.07)	[1]	($0.10)	[1]
Weighted average number of shares outstanding used in computation of basic loss per share	5,931,176	[1]	3,543,055	[1]	5,726,514	[1]	3,271,111	[1]
[1]	The number of shares have been adjusted retroactively to reflect the one for twenty reverse split of our common stock dated October 7, 2013.

Condensed_Interim_Consolidated3

Condensed Interim Consolidated Statements Of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows from Operating Activities	'	'
Net Loss for the period	($374)	($329)
Adjustments to reconcile loss to net cash used in operating activities:	'	'
Depreciation	2	'
Non-cash expenses related to convertible debt	28	61
Non-cash (income) related to warrants to issue shares	'	-18
Changes in assets and liabilities:	'	'
Increase in accrued interest payable on loans	58	31
(Increase) in accounts receivables	'	-1
(Increase) in prepaid expenses and other receivables	-152	-15
(Decrease) Increase in trade payables	-1	54
Increase in accrued severance pay, net	8	10
Increase in accrued expenses and other liabilities	107	109
Net cash used in operating activities	-324	-98
Cash Flows from Financing Activities	'	'
Proceeds from sale of shares and warrants, net of issuance costs	'	227
Payments of loans	'	-13
Proceeds from loan	175	104
Net cash provided by financing activities	175	318
Increase (decrease) in cash and cash equivalents	-149	220
Cash and cash equivalents at the beginning of the period	286	24
Cash and cash equivalents at the end of the period	137	244
Non cash transactions	'	'
Conversion of convertible debt to shares	13	67
Exercise of warrants in consideration of concession of debt	'	24
Discount on convertible notes recognized to beneficial conversion feature	'	80
Supplemental Disclosure Of Cash Flow Information:	'	'
Cash paid during the period for: Interest	$59	$34

General

General	6 Months Ended
	Jun. 30, 2014
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 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.
	The Company and its subsidiary, SPO Ltd., are collectively referred to as the "Company". In January 2010, the Company restructured its operations to focus primarily on licensing its core technology for non-medical market applications. Following the restructure, the Company ceased its previous operations associated with the distribution of the PulseOx line in the medical field. In February 2011, the Company transferred research and development activities to subcontractors, thereby ceasing all internal research and development activities.
	Effective October 4, 2013, the Company changed its corporate name to “SPO Global Inc.”.
	The Company implemented a 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.

Going_Concern

Going Concern	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Going Concern	'
	NOTE 2 - GOING CONCERN
	As reflected in the accompanying financial statements, the Company’s operations for the six months ended June 30, 2014, resulted in a net loss of $374, and the Company’s balance sheet reflects a net stockholders’ deficit of $3,020. The Company’s ability to continue operating as a “going concern” is dependent on its ability to raise sufficient additional working capital. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements have been prepared on a going concern basis, which contemplates realization of assets and liquidation of liabilities in the ordinary course of business. 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 plans to continue these efforts. There can be no assurance that this capital will be available and if it is not, the Company may be forced to substantially curtail or cease operations and development expenditures. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Significant Accounting Policies	'
Significant Accounting Policies	'
	NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES
	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 June 30, 2014 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 six months ended June 30, 2014, are not necessarily indicative of the results that may be expected for the year ended December 31, 2014.
	Certain prior years' amounts have been reclassified in conformity with current year's financial statements.

Property_And_Equipment

Property And Equipment	6 Months Ended
	Jun. 30, 2014
Property And Equipment	'
Property and Equipment	'
	NOTE 4 - PROPERTY AND EQUIPMENT
		June 30,		December 31,
		2014		2013
	Cost:
	Office furniture and equipment	$	5	$	5
	Automobile	$	24	$	24
	Less accumulated depreciation:	$	9	$	7
	Property and Equipment, net	$	20	$	22
	Depreciation expense for the period ended June 30, 2014 amounted to $2.

Loans_Payable

Loans Payable	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Loans Payable	'
	NOTE 5 - LOANS PAYABLE
	On April 12, 2013, the Company entered into a Convertible Note Agreement pursuant to which the Company received a loan in the principal amount of $32.5 from an investor. The note was originally scheduled to mature on March 19, 2014. As of June 30, 2014, $27 of the loan principal was converted into 1,008,095 shares of Common Stock and the remaining balance in the amount of $5.5 was due and owing. The outstanding and unpaid principal amount continues to accrue interest at a per annum rate of 22%. The outstanding and unpaid principal together with the interest accrued continue to be convertible, at the election of the holder, 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.
	On May 23, 2014, the Company entered into a loan agreement with investor pursuant to which the Company received a loan in the principal amount of $175 to be used for order financing. The loan is interest-free. The principle amount of the loan with a $10 fee is repayable by September 30, 2014 and may be pre-paid, at the option of the Company, without notice or penalty. If the loan is not repaid by the scheduled maturity date, the principle amount of the loan shall begin to accrue interest at a rate of 12% per annum from the maturity date until repayment in full.

Financial_Income_Expense

Financial Income (Expense)	6 Months Ended
	Jun. 30, 2014
Other Income and Expenses [Abstract]	'
Financial Income (Expenses)	'
	NOTE 6 - FINANCIAL INCOME (EXPENSE)
	Financial income (expense) is comprised of the following:
		Six Months Ended			Six Months Ended
		June 30,			June 30,
		2014			2013
	Non-cash expenses related to convertible debt	$	(28	)	$	(61	)
	Non-cash expenses related to warrants to issue shares		(1	)		18
	Interest in respect of debt instruments and liabilities		(117	)		(65	)
	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		(2	)		(30	)
		$	(148	)	$	(138	)

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events	'
Subsequent Events	'
	NOTE 7 - SUBSEQUENT EVENTS
	On July 17, 2014, the Company entered into a loan agreement with an investor pursuant to which the Company received a loan in the principal amount of $50 to be used for order financing. The loan is interest-free. The principle amount of the loan with a $4 fee is repayable by November 30, 2014 and may be pre-paid, at the option of the Company, without notice or penalty. If the loan is not repaid by the maturity date, the interest with respect to the unpaid principle amount of the loan shall begin to accrue at a rate of 12% per annum from the maturity date until repayment in full.
	On August 6, 2014, the Company issued 290,769 shares of its common stock upon conversion of convertible debt of approximately $2.
	On August 7, 2014, the Company entered into a loan agreement with an investor pursuant to which the Company received a loan in the principal amount of $200 to be used for order financing. The loan is interest-free. The principle amount of the loan with a $16 fee is repayable by November 30, 2014 and may be pre-paid, at the option of the Company, without notice or penalty. If the loan is not repaid by the maturity date, the interest with respect to the unpaid principle amount of the loan shall begin to accrue at a rate of 12% per annum from the maturity date until repayment in full.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Significant Accounting Policies Policies	'
Significant Accounting Policies	'
	NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES
	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 June 30, 2014 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 six months ended June 30, 2014, are not necessarily indicative of the results that may be expected for the year ended December 31, 2014.
	Certain prior years' amounts have been reclassified in conformity with current year's financial statements.

Property_And_Equipment_Tables

Property And Equipment (Tables)	6 Months Ended
	Jun. 30, 2014
Property And Equipment Tables	'
Schedule of Property and Equipment	'
		June 30,		December 31,
		2014		2013
	Cost:
	Office furniture and equipment	$	5	$	5
	Automobile	$	24	$	24
	Less accumulated depreciation:	$	9	$	7
	Property and Equipment, net	$	20	$	22

Financial_Income_Expense_Table

Financial Income (Expense) (Tables)	6 Months Ended
	Jun. 30, 2014
Other Income and Expenses [Abstract]	'
Schedule of Financial Income (Expense)	'
	Financial income (expense) is comprised of the following:
		Six Months Ended			Six Months Ended
		June 30,			June 30,
		2014			2013
	Non-cash expenses related to convertible debt	$	(28	)	$	(61	)
	Non-cash expenses related to warrants to issue shares		(1	)		18
	Interest in respect of debt instruments and liabilities		(117	)		(65	)
	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		(2	)		(30	)
		$	(148	)	$	(138	)

Property_And_Equipment_Details

Property And Equipment (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Less accumulated depreciation:	$9	$7
Property and Equipment, net	20	22
Office Furniture and Equipment	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	5	5
Automobile	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	$24	$24

Financial_Income_Expense_Detai

Financial Income (Expense) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Financial Income Expense Details	'	'	'	'
Non-cash expenses related to convertible debt	'	'	$28	$61
Non-cash expenses related to warrants to issue shares	'	'	1	-18
Interest in respect of debt instruments and liabilities	'	'	117	65
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	'	'	-2	-30
Financial expense, net	($92)	($83)	($148)	($138)

General_Narrative_Details

General (Narrative) (Details) (USD $)	0 Months Ended
	Oct. 08, 2013	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
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 acquisition percentage	'	90.00%
Reverse stock split	'	'
	1-for-20

Loans_Payable_Narrative_Detail

Loans Payable (Narrative) (Details) (USD $)	6 Months Ended		0 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Apr. 12, 2013	23-May-14
			Convertible Note Issued on April 12, 2013	Convertible Note Issued on April 12, 2013	Loan Payable Issued on May 23, 2014
Short-term Debt [Line Items]	'	'	'	'	'
Loan received from investor	'	'	'	$32,500	$175,000
Loan maturity date	'	'	'	19-Mar-14	30-Sep-14
Debt instrument converted into shares, value	'	24,000	27,000	'	'
Debt instrument converted into shares	'	'	1,008,095	'	'
Remaining note outstanding	'	'	$5,500	'	'
Debt instrument interest rate	'	'	22.00%	'	'
Debt instrument conversion term	'	'	'	'	'
				The outstanding and unpaid principal together with the interest accrued continue to be convertible, at the election of the holder, 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.
Debt instrument description	'	'	'	'	'
					The loan is interest-free. The principle amount of the loan with a $10 fee is repayable by September 30, 2014 and may be pre-paid, at the option of the Company, without notice or penalty. If the loan is not repaid by the scheduled maturity date, the principle amount of the loan shall begin to accrue interest at a rate of 12% per annum from the maturity date until repayment in full.

Subsequent_Event_Narrative_Det

Subsequent Event (Narrative) (Details) (USD $)	6 Months Ended		0 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Aug. 06, 2014	Jul. 17, 2014	Aug. 07, 2014
			Subsequent Event	Subsequent Event	Subsequent Event
				Loan Payable Issued on July 17,, 2014	Loan Payable on August 7, 2014
Common stock issued upon conversion of convertible debt, Shares	'	'	290,769	'	'
Common stock issued upon conversion of convertible debt, Amount	'	$24,000	$2,000	'	'
Loan received from investor	'	'	'	$50,000	$200,000
Loan maturity date	'	'	'	30-Nov-14	30-Nov-14
Interst of loan terms	'	'	'	'	'
				The loan is interest-free.	The loan is interest-free.
Debt instrument description	'	'	'	'	'
				The principle amount of the loan with a $4 fee is repayable by November 30, 2014 and may be pre-paid, at the option of the Company, without notice or penalty. If the loan is not repaid by the maturity date, the interest with respect to the unpaid principle amount of the loan shall begin to accrue at a rate of 12% per annum from the maturity date until repayment in full.	The principle amount of the loan with a $16 fee is repayable by November 30, 2014 and may be pre-paid, at the option of the Company, without notice or penalty. If the loan is not repaid by the maturity date, the interest with respect to the unpaid principle amount of the loan shall begin to accrue at a rate of 12% per annum from the maturity date until repayment in full.