SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2013

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 13 - SUBSEQUENT EVENTS:

On August 22, 2013, the Company, InspireMD Ltd. and the licensor entered into an amendment (the "Second Amendment)" to the license agreement pursuant to which the Company licenses the stent design used in the Company's MGuard Prime. Pursuant to the Second Amendment, the Company and the licensor agreed to amend the royalty fee from 2.9% of all net sales during the term of the agreement to (i) 2% of the first $10.56 million of net sales from July 1, 2013 through June 30, 2015, provided that the Company makes an advance royalty payment of $192,000 on the date of the amendment, (ii) 2.5% of net sales in excess of $10.56 million from July 1, 2013 through June 30, 2015, payable within 45 days of June 30, 2015 and (iii) 2.9% of all net sales beginning on July 1, 2015.