XML 30 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
WARRANTS TO PURCHASE ORDINARY SHARES (Tables)
 9 Months Ended
Sep. 30, 2017
Warrants issued on August 2016:  
Schedule of assumptions used in estimating fair value of warrants

 

 

 

September 30,

 

May 25,

 

December 31,

 

 

 

2017

 

2017

 

2016

 

 

 

 

 

 

 

 

 

Risk-free interest rate (1)

 
1.75

%
1.65

%

1.5% – 1.84

%

Expected volatility (2)

 

70.1% – 97.1

%

65.6% – 85

%

65.5% – 85.5

%

Expected life (in years) (3)

 
3.84

 
4.19

 

3.14 – 4.59

 

Expected dividend yield (4)

 
0

%
0

%
0

%

Fair value per warrant:

 
1.42

 
3.83

 
1.08

 

 

 

(1)           Risk free interest rate based on yield rates of non-index linked U.S. Federal Reserve treasury bonds.

 

(2)           Expected volatility was calculated based on actual historical share price movements of companies in the same industry over a term that is equivalent to the expected term of the warrants.

 

(3)           Expected life was based on the contractual term of the warrants.

 

(4)           Expected dividend yield was based on the fact that the Company has not paid dividends to its shareholders in the past and does not expect to pay dividends to its shareholders in the future.

 

Warrants issued on April 2017:  
Schedule of assumptions used in estimating fair value of warrants

 

 

 

September 30,

 

April 25,

 

 

 

2017

 

2017

 

 

 

 

 

 

 

Risk-free interest rate (1)

 
1.86

%

1.82% – 1.87

%

Expected volatility (2)

 

70.1% – 93.2

%

65.7% – 80.7

%

Expected life (in years) (3)

 
4.57

 

4.73 – 5

 

Expected dividend yield (4)

 
0

%
0

%

Fair value per warrant:

 
1.14

 
2.78

 

 

 

(1)           Risk free interest rate based on yield rates of non-index linked U.S. Federal Reserve treasury bonds.

 

(2)           Expected volatility was calculated based on actual historical share price movements of companies in the same industry over a term that is equivalent to the expected term of the warrants.

 

(3)           Expected life was based on the contractual term of the warrants.

 

(4)           Expected dividend yield was based on the fact that the Company has not paid dividends to its shareholders in the past and does not expect to pay dividends to its shareholders in the future.