XML 34 R23.htm IDEA: XBRL DOCUMENT v3.22.2
SHAREHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of employee options activity
   

Number

   

Average

exercise

price

   

Average

remaining

contractual

life

(in years)

   

Aggregate

intrinsic

value (in
thousands)

 

Options outstanding as of December 31, 2021

   

61,832

   

$

38.34

     

4.55

   

$

-

 

Granted

   

-

     

-

     

-

     

-

 

Exercised

   

-

     

-

     

-

     

-

 

Forfeited

   

(17,838

)

   

31.13

     

-

     

-

 

Options outstanding as of June 30, 2022

   

43,994

   

$

41.27

     

4.89

   

$

-

 

 

                               

Options exercisable as of June 30, 2022

   

41,638

   

$

43.28

     

4.79

   

$

-

 
Schedule of employee RSUs activity
   

Number of
shares

underlying

outstanding

RSUs

   

Weighted
average

grant
date fair

value

 

Unvested RSUs as of January 1, 2022

   

1,356,284

   

$

1.61

 

Granted

   

97,735

     

1.14

 

Vested

   

(198,145

)

   

1.99

 

Forfeited

   

(210,641

)

   

1.53

 

Unvested RSUs as of June 30, 2022

   

1,045,233

   

$

1.51

 
Schedule of options and RSUs outstanding

Range of exercise price

 

Options
and RSUs

outstanding
as of

June 30,
2022

   

Weighted

average

remaining

contractual

life

(years) (1)

   

Options
outstanding

and
exercisable
as of

June 30,
2022

   

Weighted

average

remaining

contractual

life

(years) (1)

 

RSUs only

   

1,045,233

     

-

     

-

     

-

 

$5.37

   

12,425

     

6.75

     

10,095

     

6.75

 

$20.42 - $33.75

   

13,317

     

5.71

     

13,291

     

5.71

 

$37.14 - $38.75

   

8,946

     

1.48

     

8,946

     

1.48

 

$50 - $52.5

   

6,731

     

4.97

     

6,731

     

4.97

 

$182.5 - $524.25

   

2,575

     

3.35

     

2,575

     

3.35

 
     

1,089,227

     

4.89

     

41,638

     

4.79

 
   

(1)

Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term.

Schedule of warrants outstanding and exercisable

Issuance date

 

Warrants

outstanding

   

Exercise price

per warrant

   

Warrants

outstanding
and

exercisable

   

Contractual

term

 
   

(number)

         

(number)

       

December 31, 2015 (1)

   

4,771

   

$

7.500

     

4,771

     

See footnote (1)

 

December 28, 2016 (2)

   

1,908

   

$

7.500

     

1,908

     

See footnote (1)

 

November 20, 2018 (3)

   

126,839

   

$

7.500

     

126,839

     

November 20, 2023

 

November 20, 2018 (4)

   

106,680

   

$

9.375

     

106,680

     

November 15, 2023

 

February 25, 2019 (5)

   

45,600

   

$

7.187

     

45,600

     

February 21, 2024

 

April 5, 2019 (6)

   

408,457

   

$

5.140

     

408,457

     

October 7, 2024

 

April 5, 2019 (7)

   

49,015

   

$

6.503

     

49,015

     

April 3, 2024

 

June 5, 2019, and June 6, 2019 (8)

   

1,464,665

   

$

7.500

     

1,464,665

     

June 5, 2024

 

June 5, 2019 (9)

   

87,880

   

$

9.375

     

87,880

     

June 5, 2024

 

June 12, 2019 (10)

   

416,667

   

$

6.000

     

416,667

     

December 12, 2024

 

June 10, 2019 (11)

   

50,000

   

$

7.500

     

50,000

     

June 10, 2024

 

February 10, 2020 (12)

   

28,400

   

$

1.250

     

28,400

     

February 10, 2025

 

February 10, 2020 (13)

   

105,840

   

$

1.563

     

105,840

     

February 10, 2025

 

July 6, 2020 (14)

   

448,698

   

$

1.760

     

448,698

     

January 2, 2026

 

July 6, 2020 (15)

   

296,297

   

$

2.278

     

296,297

     

January 2, 2026

 

December 8, 2020 (16)

   

586,760

   

$

1.340

     

586,760

     

June 8, 2026

 

December 8, 2020 (17)

   

108,806

   

$

1.792

     

108,806

     

June 8, 2026

 

February 26, 2021 (18)

   

5,460,751

   

$

3.600

     

5,460,751

     

August 26, 2026

 

February 26, 2021 (19)

   

655,290

   

$

4.578

     

655,290

     

August 26, 2026

 

September 29, 2021 (20)

   

8,006,759

   

$

2.000

     

8,006,759

     

March 29, 2027

 

September 29, 2021 (21)

   

960,811

   

$

2.544

     

960,811

     

September 27, 2026

 
     

19,420,894

             

19,420,894

         
     
 

(1)

Represents warrants for ordinary shares issuable upon an exercise price of $7.50 per share, which were granted on December 31, 2015 to Kreos Capital V (Expert) Fund Limited, or Kreos, in connection with a loan made by Kreos to us and are currently exercisable (in whole or in part) until the earlier of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of us with or into, or the sale or license of all or substantially all the assets or shares of us to, any other entity or person, other than a wholly-owned subsidiary of us, excluding any transaction in which the Company’s shareholders prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. None of these warrants had been exercised as of June 30, 2022.

     
 

(2)

Represents common warrants that were issued as part of the $8.0 million drawdown under the Loan Agreement which occurred on December 28, 2016. See footnote 1 for exercisability terms.

     
 

(3)

Represents common warrants that were issued as part of the Company’s follow-on public offering in November 2018.

 
 

(4)

Represents common warrants that were issued to the underwriters as compensation for their role in the Company’s follow-on public offering in November 2018.

   

 

 

(5)

Represents warrants that were issued to the exclusive placement agent as compensation for its role in the Company’s follow-on public offering in February 2019. 

   

 

 

(6)

Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s registered direct offering of ordinary shares in April 2019. 

   

 

 

(7)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s April 2019 registered direct offering. 

   

 

 

(8)

Represents warrants that were issued to certain institutional investors in a warrant exercise agreement on June 5, 2019, and June 6, 2019, respectively. 

   

 

 

(9)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s June 2019 warrant exercise agreement and concurrent private placement of warrants. 

   

 

 

(10)

Represents warrants that were issued to certain institutional investors in a warrant exercise agreement in June 2019. 

   

 

 

(11)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s June 2019 registered direct offering and concurrent private placement of warrants. 

   

 

 

(12)

Represents warrants that were issued to certain institutional purchasers in a private placement in the Company’s best efforts offering of ordinary shares in February 2020. During the year ended December 31, 2021, 3,740,100 warrants were exercised for total consideration of $4,675,125. 

   

 

 

(13)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s February 2020 best efforts offering. During the year ended December 31, 2021, 230,160 warrants were exercised for total consideration of $359,625. 

   

 

 

(14)

Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in July 2020. During the year ended December 31, 2021, 2,020,441 warrants were exercised for total consideration of $3,555,976. 

   

 

 

(15)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s July 2020 registered direct offering. 

   

 

 

(16)

Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in December 2020. During the year ended December 31, 2021, 3,598,072 warrants were exercised for total consideration of $4,821,416. 

   

 

 

(17)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s December 2020 private placement. During the year ended December 31, 2021, 225,981 warrants were exercised for total consideration of $405,003.

   

 

 

(18)

Represents warrants that were issued to certain institutional purchasers in a private placement in our private placement offering of ordinary shares in February 2021. 

 
 

(19)

Represents warrants that were issued to the placement agent as compensation for its role in Company’s private placement offering in February 2021.

   

 

 

(20)

Represents warrants that were issued to certain institutional purchasers in a private placement in our registered direct offering of ordinary shares in September 2021. 

   

 

 

(21)

Represents warrants that were issued to the placement agent as compensation for its role in the Company’s September 2021 registered direct offering. 

Schedule of non-cash share-based compensation expense
   

Six Months Ended

June 30,

 
   

2022

   

2021

 

Cost of revenues

 

$

6

   

$

4

 

Research and development

   

33

 

   

14

 

Sales and marketing

   

96

     

77

 

General and administrative

   

191

     

273

 

Total

 

$

326

   

$

368