View Filing Data

(8,776)

(17)

(17)

(8,776)

(8,793)

665

Balance at Jun. 30, 2017

115,646

(26)

(116,036)

(356)

Balance at Dec. 31, 2016

114,979

(9)

(107,260)

7,770

(22,149)

(29)

(29)

(22,149)

(22,178)

Issuance of ordinary shares of NIS 0.01 par value net of issuance expenses

^[1]

22,643

22,658

1,363

Balance at Dec. 31, 2017

138,992

(38)

(129,658)

9,620

Balance at Mar. 31, 2017

115,307

(12)

(111,574)

3,781

(4,462)

(14)

(14)

(4,462)

(4,476)

Cumulative effect adjustment on accumulated deficit as a result of adopting IFRS 15

337

Balance at Jun. 30, 2017

115,646

(26)

(116,036)

(356)

Balance at Dec. 31, 2017

138,992

(38)

(129,409)

9,620

(249)

Balance at Dec. 31, 2017

138,992

(38)

(129,658)

9,620

(8,716)

(8,716)

(8,708)

^[1]

367

Balance at Jun. 30, 2018

139,359

(30)

(138,374)

1,030

Balance at Mar. 31, 2018

139,210

(48)

(134,209)

5,028

(4,165)

(4,165)

(4,147)

^[1]

149

Balance at Jun. 30, 2018

$ 75

$ 139,359

$ (30)

$ (138,374)

$ 1,030

[1]	Represents less than $ 1

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Cash Flows from Operating Activities:

The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2017-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=7&date=2017-03-01&anchor=para_18_b&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2017-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=1&date=2017-03-01&anchor=para_24_b&doctype=Standard
-URIDate 2017-03-09

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2017-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=1&date=2017-03-01&anchor=para_32_a_ii&doctype=Standard
-URIDate 2017-03-09

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_28_b&doctype=Standard
-URIDate 2017-03-09

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_23&doctype=Standard
-URIDate 2017-03-09

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B10_b&doctype=Appendix&seq=2
-URIDate 2017-03-09

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_106_d_i&doctype=Standard
-URIDate 2017-03-09

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2017-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=4&date=2017-03-01&anchor=para_39L_e&doctype=Standard
-URIDate 2017-03-09

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_81A_a&doctype=Standard
-URIDate 2017-03-09

+ Details

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2018

Jun. 30, 2017

Jun. 30, 2018

Jun. 30, 2017

Dec. 31, 2017

Net loss

$ (4,165)

$ (4,462)

$ (8,716)

$ (8,776)

$ (22,149)

Adjustments to profit and loss items:

Loss from discontinued operation

7,616

Depreciation and amortization

170

146

305

302

567

Revaluation of liabilities in respect of IIA grants

149

337

367

665

1,363

218

221

404

402

229

Revaluation of contingent consideration for the purchase of shares

569

570

1,112

1,120

351

Increase (decrease) in severance liability

(5)

111

Net financing income

(115)

(88)

(182)

(174)

(349)

Un-realized foreign currency (gain) loss

(39)

126

(91)

(185)

Adjustments to profit and loss items, total

1,071

1,159

2,138

2,244

9,703

Changes in asset and liability items:

Decrease (increase) in trade receivables

(494)

(201)

(421)

(241)

Decrease (increase) in inventories

149

(132)

(279)

(1,042)

Decrease (increase) in other receivables

(1,690)

278

(1,572)

(277)

(1,227)

Increase (decrease) in trade payables

(51)

(2,487)

(1,210)

(135)

Increase (decrease) in other payables and deferred revenues

(507)

1,606

(336)

(459)

(70)

Changes in asset and liability items, total

(2,593)

(936)

(2,240)

(2,466)

(2,446)

Net cash flows used in operating activities

(5,687)

(4,239)

(8,818)

(8,998)

(14,892)

Net cash used in discontinued operating activities

(1,563)

Net cash used in operating activities

(5,687)

(4,239)

(8,818)

(8,998)

(16,455)

Cash Flows from Investing Activities:

Purchase of property and equipment

(197)

(169)

(313)

(365)

(1,045)

Purchase of intangible assets

(13)

(30)

Interest received

349

Proceeds from (investment in) short term bank deposits, net

1,680

3,007

(21,165)

(16,837)

1,163

Net cash provided by (used in) investing activities

1,472

2,850

(21,489)

(17,175)

437

Cash Flows from Financing Activities:

Proceeds from exercise of options

^[1]

Proceeds from issuance of shares, net

22,658

Proceeds from IIA grants, net of repayments

(65)

(37)

330

Net cash provided by (used in) financing activities

(63)

(35)

22,995

Exchange rate differences on cash and cash equivalent balances

(117)

(133)

117

226

Increase (decrease) in cash and cash equivalents from continuing activities

(4,332)

(1,376)

(30,410)

(26,091)

8,766

Decrease in cash and cash equivalents from discontinued activities

(1,563)

Balance of cash and cash equivalents at the beginning of the period

9,991

4,151

36,069

28,866

Balance of cash and cash equivalents at the end of the period

$ 5,659

$ 2,775

$ 5,659

$ 2,775

$ 36,069

[1]	Represents less than $ 1

SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2018

Disclosure of significant accounting policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2:

SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in the financial statements for all periods presented unless otherwise stated.

Basis of presentation of financial statements:

These financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

Basis of preparation of the interim consolidated financial statements:

The interim condensed consolidated financial statements for the six months ended June 30, 2018 have been prepared in accordance with IAS 34 "Interim Financial Reporting".

The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Company's annual financial statements as of December 31, 2017 that were included in the Annual Report on Form 20-F filed on March 19, 2018.

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company’s annual consolidated financial statements for the year ended December 31, 2017 that were included in the Annual Report on Form 20-F filed on March 19, 2018, except than the change discussed below.

Changes in significant accounting policies

IFRS 15, "Revenue from Contracts with Customers":

IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue is recognized. It replaced IAS 18 Revenue, IAS 11 Construction Contracts and related interpretations and it applies to all revenue arising from contracts with customers, unless those contracts are in the scope of other standards.

The new standard establishes a five-step model to account for revenue arising from contracts with customers. Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.

The standard requires entities to exercise judgment, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with their customers.

The Company generates revenues from direct and indirect sales of its products and from license agreements with its distributors.

Revenue from the Sale of products:

The Company contracts with customers for the sale of products which generally include one performance obligation. The Company has concluded that revenue from sale of products should be recognized at the point in time when control of the asset is transferred to the customer, generally on delivery of the products. Therefore, the adoption of IFRS 15 did not have an impact on the timing of revenue recognition.

Revenue from distribution agreements with Multiple- element:

According to the new Standard, entities need to determine whether the licenses for intellectual property is distinct from other goods and services included in the contract. An analysis of the Company's contracts with its distributors indicates that in the majority of contracts, the Company grants its distributors a right to access its intellectual property as it exists throughout the license period. Accordingly, the Company recognizes revenue from the granting of licenses over the license period which is identical to the legacy accounting treatment.

In addition, in accordance with terms of some license agreements, the Company is entitled for up-front payments which are accounted for as deferred revenues and recognized in profit and loss over the license period. According to the new Standard, when long-term advances (exceeding one year) are received for a future service, the Company is required to accrue interest and recognize finance expense on the advances over the period of the contract. Under the legacy revenue recognition guidance the Company did not recognize finance expenses in respect of deferred revenue.

On January 1, 2018, the Company adopted the new standard for all its distribution agreements at the date of initial application, and applied the standard using the modified retrospective approach, with the cumulative effect of applying the new guidance recognized as an adjustment to the opening retained earnings balance. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. The Company recorded a net increase to opening accumulated deficit of $249 as of January 1, 2018 due to the cumulative impact of adopting the new guidance and an increase of deferred revenues by $249.

The following table summarizes the impacts of adopting IFRS 15 on the Company’s interim statement of financial position as of June 30, 2018 and its interim consolidated statements of comprehensive loss for the three and six months period ended June 30, 2018 for each of the line items affected.

Impact on the condensed interim consolidated statement of financial position:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Deferred revenues*		1,365			(311	)		1,054

Accumulated deficit		(138,374	)		311			(138,063	)

* Comprised of short term deferred revenues classified in other payable and long term deferred revenues.

Impact on the condensed interim consolidated statements of comprehensive loss for the six months period ended June 30, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		1,551			(20	)		1,531
Financial expense		(1,898	)		82			(1,816	)
Net loss		(8,716	)		62			(8,654	)

Total Basic and diluted net loss per share		(0.32	)		(0.0	)		(0.32	)

Impact on the condensed interim consolidated statements of comprehensive loss for the three months period ended June 30, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		1,031			(11	)		1,020
Financial expense		(994	)		41			(953	)
Net loss		(4,165	)		30			(4,135	)
Total Basic and diluted net loss per share		(0.15	)		(0.0	)		(0.15	)

SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2018

Disclosure of significant accounting policies [Abstract]

Basis of presentation of financial statements

Basis of presentation of financial statements:

These financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

Basis of preparation of the interim consolidated financial statements

Basis of preparation of the interim consolidated financial statements:

The interim condensed consolidated financial statements for the six months ended June 30, 2018 have been prepared in accordance with IAS 34 "Interim Financial Reporting".

Changes in significant accounting policies

IFRS 15, "Revenue from Contracts with Customers":

The standard requires entities to exercise judgment, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with their customers.

The Company generates revenues from direct and indirect sales of its products and from license agreements with its distributors.

Revenue from the Sale of products:

Revenue from distribution agreements with Multiple- element:

Impact on the condensed interim consolidated statement of financial position:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Deferred revenues*		1,365			(311	)		1,054

Accumulated deficit		(138,374	)		311			(138,063	)

* Comprised of short term deferred revenues classified in other payable and long term deferred revenues.

Impact on the condensed interim consolidated statements of comprehensive loss for the six months period ended June 30, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		1,551			(20	)		1,531
Financial expense		(1,898	)		82			(1,816	)
Net loss		(8,716	)		62			(8,654	)

Total Basic and diluted net loss per share		(0.32	)		(0.0	)		(0.32	)

Impact on the condensed interim consolidated statements of comprehensive loss for the three months period ended June 30, 2018:

	As reported			Adjustments			Amounts without adoption of IFRS 15

Revenues		1,031			(11	)		1,020
Financial expense		(994	)		41			(953	)
Net loss		(4,165	)		30			(4,135	)
Total Basic and diluted net loss per share		(0.15	)		(0.0	)		(0.15	)

SIGNIFICANT ACCOUNTING POLICIES (Schedule of condensed interim consolidated statement of profit or loss) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Statement Line Items [Line Items]
Revenues	$ 1,031	$ 687	$ 1,551	$ 1,227	$ 2,496
Financial expense	994	846	1,898	1,584	1,252
Net loss	$ (4,165)	$ (4,462)	$ (8,716)	$ (8,776)	$ (22,149)
Total Basic and diluted net loss per share	$ (0.15)	$ (0.20)	$ (0.32)	$ (0.4)	$ (0.95)
As Reported [Member]
Statement Line Items [Line Items]
Revenues	$ 1,031		$ 1,551
Financial expense	(994)		(1,898)
Net loss	$ (4,165)		$ (8,716)
Total Basic and diluted net loss per share	$ (0.15)		$ (0.32)
Adjustments [Member]
Statement Line Items [Line Items]
Revenues	$ (11)		$ (20)
Financial expense	41		82
Net loss	$ 30		$ 62
Total Basic and diluted net loss per share	$ 0.00		$ (0.0)
Amounts without adoption of IFRS 15 [Member]
Statement Line Items [Line Items]
Revenues	$ 1,020		$ 1,531
Financial expense	(953)		(1,816)
Net loss	$ (4,135)		$ (8,654)
Total Basic and diluted net loss per share	$ (0.15)		$ (0.32)

The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details