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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (15,585) $ (25,095)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 241 263
Impairment of royalties buyout [1] 576  
Loss from sale of property, plant and equipment 14  
Change in liability for employees rights upon retirement 19 77
Financial expenses 249 350
Share-based compensation expenses 3,107 4,138
Loss (gains) on amounts funded in respect of employee rights upon retirement, net 3 (18)
Changes in operating asset and liability items:    
Decrease in prepaid expenses 141 39
Decrease in trade receivables 230 1,220
Decrease in other receivables 217 28
Decrease (increase) in inventory 1,171 (331)
Decrease in trade payables (397) (659)
Increase (decrease) in other payable and advanced payment from customers (1,582) 626
Net cash used in operating activities (11,596) (19,362)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Decrease in restricted cash   93
Purchase of property, plant and equipment (16) (133)
Amounts funded in respect of employee rights upon retirement, net (7) (46)
Net cash used in investing activities (23) (86)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of shares and warrants 12,432 9,535
Repayment of long-term loan (3,702) (1,148)
Taxes withheld in respect of share issuance (113) (115)
Net cash provided by financing activities 8,617 8,272
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (41) (59)
DECREASE IN CASH AND CASH EQUIVALENTS (3,043) (11,235)
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 6,300 17,535
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR 3,257 6,300
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes 13 14
Interest paid $ 863 1,082
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES:    
Anti-dilution rights $ 110
[1] During the year ended December 31, 2015 the Company recorded expenses related to the impairment of the royalties buyout asset amounting to $576,000 due to anticipated lower sales of MGuard Prime in the future resulting from industry preferences for drug eluting stents.