SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

12 Months Ended

Jun. 30, 2013

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION [Abstract]

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

NOTE 11 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

Balance sheets:

a. Accounts receivable:

	June 30,
	2013			2012
	($ in thousands)
1) Trade:
Open accounts	$	2,068		$	2,039
Allowance for doubtful accounts		(329	)		(215	)
	$	1,739		$	1,824
2) Other:
Due from government institutions	$	176		$	124
Advance payments to suppliers		202			118
Miscellaneous		10			22
	$	388		$	264

The changes in "Allowance for doubtful accounts" during the years ended June 30, 2013 and 2012 are as follows:

	Year ended June 30,
	2013			2012
	($ in thousands)
Balance at beginning of period	$	215		$	155
Additions during the period		245			78
Deductions during the period		(142	)
Exchange rate differences		11			(18	)
Balance at end of period	$	329		$	215

b. Inventories:

	June 30,
	2013		2012
	($ in thousands)
Finished goods	$	364	$	479
Work in process		1,111		1,115
Raw materials and supplies		118		150
	$	1,593	$	1,744

As of June 30, 2013 and 2012 the Company recorded provisions for slow moving inventory in the amounts of approximately $379,000 and $443,000, respectively.  

c. Inventory on consignment

The changes in inventory on consignment during the years ended June 30, 2013 and 2012 are as follows:

	Year ended June 30,
	2013			2012
	($ in thousands)
Balance at beginning of period	$	63		$	82
Costs of revenues deferred during the period		20			63
Costs of revenues recognized during the period		(83	)		(82	)
Balance at end of period	$	-		$	63

As of June 30, 2012, inventory on consignment included products of sales for which returns were reliably estimated in the amount of approximately $63,000. As of June 30, 2013, there was no inventory on consignment.

d. Accounts payable and accruals-other:

	June 30,
	2013		2012
	($ in thousands)
Employees and employee institutions	$	626	$	438
Accrued vacation and recreation pay		313		272
Accrued clinical trials expenses		513		607
Provision for sales commissions		205		194
Accrued expenses		1,343		1,197
Due to government institutions		15		22
Provision for returns				139
Taxes payable		13		56
	$	3,028	$	2,925

e. Deferred revenues

The changes in deferred revenues during the years ending June 30, 2013 and 2012 are as follows:

	Year ended June 30,
	2013		2012
	($ in thousands)
Balance at beginning of period	$	10	$	-
Revenue deferred during the period				25
Revenue recognized during the period				(15	)
Balance at end of period	$	10	$	10

Statements of Operation:

f. Financial expenses, net:

	Year ended June 30,
	2013			2012
	($ in thousands)
Bank commissions	$	38		$	50
Interest income		(28	)		(40	)
Exchange rate differences		(63	)		112
2013 Exchange agreement :
Induced conversion of convertible debt		9,330
Issuance of warrants		568
Interest expense (including debt issuance costs)		4,268			1,238
Change in fair value of warrants, embedded derivatives and anti-dilution rights		64			(1,322	)
	$	14,177		$	38