XML 79 R56.htm IDEA: XBRL DOCUMENT v3.20.1
Stockholders' Equity (Details Textual)
$ / shares in Units, $ in Thousands
1 Months Ended 7 Months Ended 12 Months Ended
Dec. 13, 2019
shares
Jul. 18, 2019
USD ($)
shares
May 19, 2019
May 15, 2019
May 14, 2019
shares
May 07, 2019
shares
Apr. 04, 2018
Dec. 11, 2017
Dec. 20, 2019
Aug. 20, 2019
USD ($)
shares
Apr. 29, 2019
shares
Apr. 18, 2019
Mar. 31, 2019
shares
Mar. 31, 2019
Mar. 31, 2019
shares
Mar. 02, 2019
Oct. 22, 2018
$ / shares
Oct. 22, 2018
USD ($)
$ / shares
shares
Jul. 31, 2018
USD ($)
shares
Jun. 30, 2018
USD ($)
Apr. 30, 2018
USD ($)
Feb. 22, 2018
Feb. 19, 2018
Aug. 15, 2018
Dec. 31, 2019
USD ($)
$ / shares
shares
Dec. 31, 2019
USD ($)
$ / shares
₪ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
shares
Dec. 31, 2019
₪ / shares
Oct. 15, 2019
shares
Aug. 15, 2019
shares
Jul. 31, 2019
shares
Mar. 01, 2019
USD ($)
Mar. 01, 2019
₪ / shares
Feb. 28, 2018
shares
Warrants remain outstanding                                                                   788,658
Aggregate exercise price of warrants | $                                                     $ 1,145              
Common stock shares issued                                                 15,873,128 15,873,128 8,957,550              
Issued shares of common stock           336,000         336,000   60,000                                          
Future investment exercised | $                                                 $ 71 $ 71                
Common stock value issued for services | $   $ 3               $ 18                                 $ 54              
Common stock shares issued for services 337 6,945               45,000                                 55,000              
Registration statement, description                                                 The Company filed an amendment to the S-1 Registration Statement, for the purpose of registering (i) 922,330 shares of Common Stock that were outstanding as of that date; and (ii) 338,945 shares of Common Stock which are issuable upon conversion of the 2016 Loan and/or the 2017 Loan. On July 12, 2018, the S-1 Registration Statement was declared effective by the SEC.                  
Purchase agreement, description                 The Company entered into a securities purchase agreement (the "2019 Purchase Agreement") with an accredited investor. Pursuant to the 2019 Purchase Agreement, the Company agreed to sell to the investor, and the investor agreed to purchase from the Company, in a private placement, an aggregate of 2,037,037 shares of Common Stock for a purchase price of $0.27 per share, for aggregate gross proceeds under the 2019 Purchase Agreement of $550. The Company also agreed to issue to the investor the December 2019 Warrants, a five-year warrants to purchase an aggregate of 4,074,047 shares of Common Stock. The December 2019 Warrants have an exercise price of $0.27 per share and will be exercisable five days following the public announcement of positive clinical data results for LO2A.                 The Company granted to the investors thereunder, for a period of three years from the closing date of the Purchase Agreement, a right of participation of up to an aggregate of 35% in any subsequent offering of the Company, subject to certain exceptions.                                
Warrant term, description                                   The Series A Warrants have a term of 5 years from issuance, and the Series B Warrants have a term that expires 20 days following the later of (i) the public announcement of Phase II clinical data for LO2A and (ii) six months following the issuance date, provided that, for each day after the issuance date that an Equity Conditions Failure (as defined in the Series B Warrants) has occurred, the expiration date of the Series B Warrants will be extended by one day.                                
Unrecognized compensation cost | $                                                 $ 117 $ 117                
Trading activities, description                                   During the period commencing upon execution of the Purchase Agreement, and expiring on the trading day immediately following the date that the Company has raised, beginning after the issuance date of the Warrants, at least $10,000 in gross proceeds from the issuance of the Company's securities, the Company issues or sells Common Stock (or securities convertible into or exercisable into Common Stock) at a purchase price (or conversion or exercise price, as applicable) lower than the exercise price of the Warrants, than the exercise price of the Warrants will be reduced to such lower price, subject to certain exceptions.                                
Warrant exercise price | ₪ / shares                                                   $ 0.16                
Finance expense | $                                                 $ 252                  
Placement ageny agreement, description                                   The Company paid ThinkEquity a fee equal to 8% of the gross proceeds, excluding proceeds received from certain investors for its services as placement agent, and issued to ThinkEquity or its designees warrants to purchase 267,000 shares of Common Stock (equal to 6% of the shares of Common Stock sold (on an as-converted basis with respect to shares of Series A Preferred Stock)) (the "Placement Agent Warrants").                                
Placement agent warrants, description                                   The Placement Agent Warrants have an exercise price of $1.00 per share and have the same terms as the Series A Warrants issued to the investors under the Purchase Agreement. The Company also paid to ThinkEquity a non-accountable expense allowance of $30 and reimbursed ThinkEquity for its legal expenses in connection with the offering in the amount of $50. The Company granted to ThinkEquity a right of first refusal for a period of nine months following the closing of the offering, to act as sole financial advisor, sole investment banker, sole book-runner, and/or sole placement agent, for each and every future public and private equity and debt offering of the Company during such period, on terms and conditions customary to ThinkEquity. The Company also paid Mesodi Consultation & Investments, Ltd. ("Mesodi") a fee of $89 and issued to Mesodi warrants (the "Mesodi Warrants") to purchase 89,000 shares of Common Stock. The Mesodi Warrants have the same terms as the Warrants issued to the investors, in connection with the Purchase Agreement.                                
Joint venture agreement, description                               Pursuant to the terms of the agreement, the Company issued to Cannabics 900,000 shares of its Common Stock and Cannabics issued to the Company 2,263,944 shares of Cannabics' common stock, which represented a holding percentage less than 5 percent of Cannabic's then outstanding share capital. The joint venture currently has no assets or liabilities and has not started conducting any of its planned operations.                                    
Common stock par value | (per share)                                                 $ 0.001 $ 0.001 $ 0.001           ₪ 765  
Additional paid in capital | $                                                 $ 34,491 $ 34,491 $ 30,272         $ 765    
Change in fair value | $                                                 565   565              
Chairman appointment agreement, description                   The Company and Mr. Sieczkarek entered into a Chairman Agreement (the "Chairman Agreement") whereby Mr. Sieczkarek shall receive 202,399 restricted stock units ("RSUs") and options to purchase 102,222 shares of the Company's Common Stock at an exercise price of $2.00 per share (the "Chairman Awards"). The Chairman Awards shall vest 1/8 on the effective date of the Chairman Agreement and subsequently in seven equal quarterly installments commencing July 1, 2019. The Chairman Agreement has an initial term of two years (the "Term") and provides that in the event of a change of control (as defined in the Chairman Agreement) the Chairman Awards shall automatically vest in full as of that date. The Chairman Agreement also contains standard representations and warranties regarding confidential information, non-competition and non-solicitation.                                                
Stock options granted during the vesting period | $                   $ 29                                                
Share-based expense related to RSU's | $                   $ 185                             $ 164                  
Stock issuance to consultant related, description                                               The Company granted to its consultant options exercisable into 25,500 shares of Common Stock with an exercise price of $4.5 per share. The options will vest quarterly over a period of 36 months. The Company recognized $16 during the year ended December 31, 2018.                    
Company stock grants to its employee related, description                       The Company granted to its employee, 21,600 options exercisable into 21,600 shares of Common Stock at an exercise price of $0.75 per share of Common Stock. The options began vesting quarterly over a period of 36 months commencing April 18, 2019. The Company recognized $2 during the year ended December 31, 2019 as a share-based expense. The total value of the share based expense is $10, which is recorded quarterly over the vesting period. Since the Company has terminated its employment agreement in December 2019, as of December 31, 2019, 3,600 options are outstanding and 18,000 were forfeited.                                            
Vest options exercisable, term                                                 2 years 6 months                  
Contractual term of stock-based grants, description                                                 The Company and five representative companies and expected term of stock-based grants of 7 years.                  
Common stockholders amount | $                                                 $ 765                  
Common Stock [Member]                                                                    
Issued shares of common stock                                                 900,000                  
Company stock grants to its employee related, description             The Company granted to its officers, directors and a consultant options exercisable into 229,500 shares of Common Stock with an exercise price of $3.59 per share. The Company recognized $154 and $295 during the year ended December 31, 2019 and 2018, respectively.                                                      
Common stockholders amount | $                                                 $ 1                  
2012 Plan [Member                                                                    
Future investment exercised, shares                                                 4,896 4,896                
Common Stock available for future grant                                                 40,474 40,474                
Shares issued                                                 4,896 4,896                
2018 Plan [Member                                                                    
Common stock shares issued                                                 435,053 435,053       2,500,000        
Common Stock available for future grant                                                 967,178 967,178                
Description of investments                                                 (i) 1,000,000 shares or (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year.                  
Stock outstanding related, description                                                 Through December 31, 2019, 352,072 options to directors, officers and consultants are outstanding.                  
Restricted Stock Units (RSUs) [Member]                                                                    
Future investment exercised, shares         25,300                                               25,300   25,300      
Share-based expense related to RSU's | $                                                 $ 104                  
Shares issued         25,300                                               25,300   25,300      
Stock issuance to consultant related, description       The Company granted to a consultant, 10,000 fully vested RSUs. The Company determined the fair value of the RSUs to be the quoted market price of the Company's Common Stock on the date of issuance. The aggregate fair value of these RSUs issued at grant date was $5, and was recognized during the year ended December 31, 2019. The Company issued to a consultant, 135,000 shares of restricted Common Stock which is due and issuable according to the following schedule: 25% as of May 1, 2019 and additional 25% every quarter following May 1, 2019. The aggregate fair value of these shares of RSUs at grant date issued was $106, and is being recognized over a period of 1 year following May 1, 2019.                                                          
Company stock grants to its employee related, description             The Company granted to its officers, directors and a consultant, 131,200 fully vested RSUs. The Company determined the fair value of the RSUs to be the quoted market price of the Company's Common Stock on the date of issuance. The aggregate fair value of these RSUs issued was $471, and was recognized during the three months ended June 30, 2018.             1. To grant to each of Company's four directors 100,000 RSU's. The RSU's will vest quarterly over a period of 24 months. 2. To grant to each its officers (Company's Chief executive officer and to Company's Chief financial officer) 140,000 RSU's. The RSU's will vest quarterly over a period of 24 months.                                        
Beneficial Owner [Member]                                                                    
Ownership, percentage                                 4.99% 4.99%                                
Investor [Member]                                                                    
Ownership, percentage                                 9.99% 9.99%                                
Liquidated damages to investors, description                                 The Company shall pay to each investor cash equal to 2% of such investor's total purchase price on the dates of each deficiency and on the 30th day after such deficiencies until such deficiencies are cured, up to a maximum of 10% of the purchase price.                                  
Mesodi [Member]                                                                    
Warrant exercise price | ₪ / shares                                                   $ 0.16                
Common stockholders amount | $                                                 $ 18                  
Rimon Gold And Fisher [Member]                                                                    
Common stock shares issued                                                 2,816,196 2,816,196                
Stock issuance to consultant related, description     the Company granted to one of its directors options exercisable into 30,000 shares of Common Stock with an exercise price of $0.58 per share. The options will vest monthly over a period of six (6) months. The Company recognized $13 of share-based compensation expense during year ended December 31, 2019.                                                              
Preferred Class A [Member]                                                                    
Converted instrument shares           336         336       60                                      
Common stock value issued for services | $                                                     $ 440              
Common stock shares issued for services                                                     440,000              
Purchase agreement, description                                   (i) 150 days following the date that all of the Common Stock, issued pursuant to the Purchase Agreement, and issuable upon conversion of the Series A Preferred Stock and exercise of the Warrants, are registered for resale, (ii) six months after the date that a non-affiliate investor under the Purchase Agreement may first sell securities purchased thereunder under Rule 144, (iii) 120 days following the listing of the Common Stock on a Qualified Market (as defined below) and (iv) the first trading day that the weighted average price of the Common Stock exceeds $5.00 per share for 10 consecutive trading days.                                
Series A Certificate of Designations [Member]                                                                    
Converted instrument shares                                   1,000                                
Preferred stock, dsignated                                   1,350                                
Preferred stock designated stock | $                                   $ 1,000                                
Shares of common stock, dividing | $                                   $ 1,000                                
Conversion price | $ / shares                                 $ 1.00 $ 1.00                                
Series A Certificate of Designations [Member] | Beneficial Owner [Member]                                                                    
Ownership, percentage                                 4.99% 4.99%                                
Series A Certificate of Designations [Member] | Investor [Member]                                                                    
Ownership, percentage                                 9.99% 9.99%                                
Private Placement [Member] | Preferred Class A [Member]                                                                    
Purchase agreement, description                                   (i) 3,100,000 shares of Common Stock, for a purchase price of $1.00 per share, and (ii) 1,350 shares of newly created Series A Preferred Stock (each convertible into 1,000 shares of Common Stock), for a purchase price of $1,000 per share, for aggregate gross proceeds under the Purchase Agreement of $4,450. The Company also issued to the investors Series A Warrants to purchase an aggregate of 4,450,000 shares of Common Stock (equal to 100% of the shares of Common Stock sold (on an as-converted basis with respect to shares of Series A Preferred Stock)) (the "Series A Warrants"), and Series B Warrants (the "Series B Warrants", and together with the Series A Warrants, the "Warrants"), to purchase an aggregate of 4,450,000 shares of Common Stock (equal to 100% of the shares of Common Stock sold (on an as-converted basis with respect to shares of Series A Preferred Stock)). The Series A Warrants have an exercise price of $1.10 per share, and the Series B Warrants have an exercise price of $1.00 per share                                
Two Service Providers [Member]                                                                    
Common stock value issued for services | $                                     $ 67,778 $ 24,306 $ 24,306                          
Common stock shares issued for services                                     381               126              
2016 Investment Right [Member]                                                                    
Future investment exercised | $                                                 $ 853 $ 853                
Future investment exercised, shares                                                 217,442 217,442                
Shares of common stock, per share | ₪ / shares                                                       ₪ 1.308            
Shares issued                                                 217,442 217,442                
2017 Investment Right [Member]                                                                    
Future investment exercised | $                                                 $ 853 $ 853                
Future investment exercised, shares                                                 427,048 427,048                
Shares of common stock, per share | ₪ / shares                                                       ₪ 1.332            
Shares issued                                                 427,048 427,048                
Warrant [Member]                                                                    
Aggregate exercise price of warrants | $                                                 $ 292 $ 292                
Common stock shares issued                                                 759,871 759,871                
Issued shares of common stock                                                 144,168                  
Warrants exercised shares of common stock                                                 144,168                  
Common stockholders amount | $                                                 $ 15                  
Board of Directors [Member]                                                                    
Reverse stock split, description               The Company announced a notice of special meeting of stockholders, according to which, a special meeting of the stockholders was held on February 19, 2018, for the purpose of considering to grant the Company’s Board of Directors (the “Board”) the authority, in its sole direction, to approve an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s issued and outstanding Common Stock by a ratio of not less than 1-for-10 and not more than 1-for-200.                           The Company’s Board approved a reverse stock split of the Company’s issued and outstanding Common Stock by a ratio of 1-for-24 (the “Reverse Stock Split”). The stockholders of the Company approved a reverse stock split of the Company’s issued and outstanding Common Stock by a ratio of not less than 1-for-10 and not more than 1-for-200 at any time prior to February 19, 2019, with such ratio to be determined by the Company’s Board of Directors, in its sole discretion.