Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY)

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CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY) (USD $)
In Thousands, except Share data
Total
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-In Capital [Member]
Accumulated OtherComprehensive Loss [Member]
Deficit Accumulated During Development Stage [Member]
Balance at Jun. 07, 2007 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Balance (in shares) at Jun. 07, 2007   0 0      
Shares issued to founders for intellectual property 88 0 0 88 0 0
Shares issued to founders for intellectual property (in shares)   0 29,451      
Shares issued to directors 24 0 0 24 0 0
Shares issued to directors (in shares)   0 0      
Common Stock Issued 10 0 0 10 0 0
Common Stock Issued (in shares)   0 3,272      
Net loss (537) 0 0 0 0 (537)
Balance at Dec. 31, 2007 (415) 0 0 122 0 (537)
Balance (in shares) at Dec. 31, 2007   0 32,723      
Stock based compensation 72 0 0 72 0 0
Net loss (202) 0 0 0 0 (202)
Balance at Dec. 31, 2008 (545) 0 0 194 0 (739)
Balance (in shares) at Dec. 31, 2008   0 32,723      
Conversion of senior convertible notes into Preferred stock in June 2009 ($2.60 per share) 201 0 1 200 0 0
Conversion of senior convertible notes into Preferred stock in June 2009 ($2.60 per share) (in shares)   0 360,005      
Capital contribution in June 2009 24 0 0 24 0 0
Shares issued to directors 4 0 0 4 0 0
Shares issued to directors (in shares)   0 1,571      
Net loss (221) 0 0 0 0 (221)
Balance at Dec. 31, 2009 (537) 0 1 422 0 (960)
Balance (in shares) at Dec. 31, 2009   0 394,299      
Conversion of demand notes into capital stock in July 2010 ($4.60 per share) 480 0 0 480 0 0
Conversion of demand notes into capital stock in July 2010 ($4.60 per share) (in shares)   0 104,729      
Conversion of accrued interest on demand notes into capital stock in July 2010 ($4.60 per share) 69 0 0 69 0 0
Conversion of accrued interest on demand notes into capital stock in July 2010 ($4.60 per share) (in shares)   0 15,072      
Shares issued to founders for intellectual property 295 0 0 295 0 0
Shares issued to founders for intellectual property (in shares)   0 65,447      
Issuance of capital stock 1,342 0 0 1,342 0 0
Issuance of capital stock (in shares)   0 292,805      
Shares issued to directors 140 0 0 140 0 0
Shares issued to directors (in shares)   0 29,385      
Net loss (1,964) 0 0 0 0 (1,964)
Balance at Dec. 31, 2010 (175) 0 1 2,748 0 (2,924)
Balance (in shares) at Dec. 31, 2010   0 901,737      
Issuance of capital stock 612 0 0 612 0 0
Issuance of capital stock (in shares)   0 133,530      
Shares issued to directors 435 0 0 435 0 0
Shares issued to directors (in shares)   0 98,084      
Common stock issued in connection with the share exchange transaction in October 2011 0 0 0 0 0 0
Common stock issued in connection with the share exchange transaction in October 2011 (in shares)   0 200,000      
Common Stock Issued 144 0 0 144 0 0
Common Stock Issued (in shares)   0 20,000      
Net loss (3,470) 0 0 0 0 (3,470)
Balance at Dec. 31, 2011 (2,454) 0 1 3,939 0 (6,394)
Balance (in shares) at Dec. 31, 2011   0 1,353,351      
Capital contribution of accrued interest 3 0 0 3 0 0
Stock based compensation 865 0 0 865 0 0
Issuance of common stock in January 2012 to holders of convertible debentures ($12.40 per share) 369 0 0 369 0 0
Issuance of common stock in January 2012 to holders of convertible debentures ($12.40 per share) (in shares)   0 29,700      
Issuance of capital stock 3,633 0 1 3,632 0 0
Issuance of capital stock (in shares)   0 330,893      
Warrants issued in January 2012 to holders of convertible debentures 83 0 0 83 0 0
Warrants issued to placement agent in January 2012 6 0 0 6 0 0
Issuance of common stock and warrants in December 2012 ($8.00 per share) net of transaction expenses of $70 (in shares)   0 326,879      
Warrants reclassified to equity upon expiry of reset provisions 3,939 0 0 3,939 0 0
Issuance of common stock and warrants in December 2012 to holders of convertible debentures ($6.00 per share) 710 0 0 710 0 0
Issuance of common stock and warrants in December 2012 to holders of convertible debentures ($6.00 per share) (in shares)   0 118,335      
Issuance of common stock and warrants in December 2012 ($8.00 per share) net of transaction expenses of $70 2,545 0 0 2,545 0 0
Beneficial conversion feature in connection with convertible debentures 710 0 0 710 0 0
Net loss (9,450) 0 0 0 0 (9,450)
Balance at Dec. 31, 2012 959 0 2 16,801 0 (15,844)
Balance (in shares) at Dec. 31, 2012   0 2,159,159      
Stock based compensation 1,717 0 0 1,717 0 0
Issuance of common stock in exchange for exercise of warrants in April 2013 ($8.00 per share) 307 0 0 307 0 0
Issuance of common stock in exchange for exercise of warrants in April 2013 ($8.00 per share) (in shares)   0 38,334      
Issuance of common stock and warrants in August 2013 ($4.25 per share) net of transaction expenses of $1,352 10,042 0 3 10,039 0 0
Issuance of common stock and warrants in August 2013 ($4.25 per share) net of transaction expenses of $1,352 (in shares)   0 2,680,000      
Common stock issued (873,885) or to be issued (11,002) in exchange for exercise of warrants in December 2013 ($4.25 per share) 3,761 0 1 3,760 0 0
Common stock issued (873,885) or to be issued (11,002) in exchange for exercise of warrants in December 2013 ($4.25 per share) (in shares)   0 884,887      
Issuance of common stock in exchange for exercise of warrants in December 2013 ($8.00 per share) 560 0 0 560 0 0
Issuance of common stock in exchange for exercise of warrants in December 2013 ($8.00 per share) (in shares)   0 70,031      
Issuance of common stock in exchange for 3,185 warrants exercised on a cashless basis 0 0 0 0 0 0
Issuance of common stock in exchange for 3,185 warrants exercised on a cashless basis (in shares)   0 1,672      
Warrants issued for services rendered 51 0 0 51 0 0
Foreign currency translation adjustment (1) 0 0 0 (1) 0
Net loss (10,884) 0 0 0 0 (10,884)
Balance at Dec. 31, 2013 $ 6,512 $ 0 $ 6 $ 33,235 $ (1) $ (26,728)
Balance (in shares) at Dec. 31, 2013   0 5,834,083