Financial Instruments (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Financial Instruments |
|
| Schedule of financial assets and liabilities |
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| |
|
NIS in thousands |
|
| Financial assets at fair value through profit or loss: |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| long-term investment |
|
|
3,179 |
|
|
|
- |
|
|
b. |
Financial liabilities, interest-bearing loans and borrowings: |
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| |
|
NIS in thousands |
|
| Financial liabilities at fair value through profit or loss: |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Trade payable |
|
|
1,479 |
|
|
|
4,804 |
|
| Other account payable |
|
|
3,469 |
|
|
|
3,588 |
|
| Deferred revenues |
|
|
4,623 |
|
|
|
5,747 |
|
| Warrants exercisable into shares |
|
|
7,037 |
|
|
|
10,068 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
13,202 |
|
|
|
24,207 |
|
|
| Schedule of fair value measurements using significant unobservable inputs |
| |
|
|
NIS in thousands |
|
| |
|
|
|
|
| |
Balance at December 31, 2015 |
|
|
16,725 |
|
| |
|
|
|
|
|
| |
Changes in values of warrants exercisable into shares liability |
|
|
(6,657 |
) |
| |
|
|
|
|
|
| |
Balance at December 31, 2016 |
|
|
10,068 |
|
| |
|
|
|
|
|
| |
Fair value of warrants at issuance date |
|
|
7,117 |
|
| |
Purchase of long term investment |
|
|
(3,179 |
) |
| |
Changes in values of warrants exercisable into shares liability |
|
|
(10,148 |
) |
| |
|
|
|
|
|
| |
Balance at December 31, 2017 |
|
|
3,858 |
|
|
| Schedule of fair values assumptions warrants call option |
| |
|
|
December 31, |
| |
|
|
2017 |
|
2016 |
| |
|
|
|
|
|
| |
Dividend yield |
|
0 |
|
0 |
| |
Expected volatility |
|
48.92%-98.06% |
|
59.03%-91.41% |
| |
Risk-free interest |
|
1.46%-2.16% |
|
0.9%-1.77% |
| |
Expected life |
|
0.19-4.55 |
|
1.19-4.28 |
|
| Schedule of changes in liabilities arising from financing activities |
|
|
|
NIS in thousands |
|
| |
|
|
1 January 2017
|
|
|
Cash flows
|
|
|
Foreign exchange movement
|
|
|
Changes in fair values
|
|
|
December 31,
2017 |
|
| |
Warrants exercisable into shares |
|
|
10,068 |
|
|
|
7,117 |
|
|
|
(1,631 |
) |
|
|
(8,517 |
) |
|
|
7,037 |
|
| |
Total liabilities from financing activities |
|
|
10,068 |
|
|
|
7,117 |
|
|
|
(1,631 |
) |
|
|
(8,517 |
) |
|
|
7,037 |
|
|
| Schedule of sensitivity tests relating to changes in market factors |
| |
|
|
December 31, |
|
| |
|
|
2017 |
|
|
2016 |
|
| |
|
|
NIS in thousands |
|
| |
Sensitivity test to changes in the U.S. dollar exchange rate: |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Gain (loss) from the change on financial instruments: |
|
|
|
|
|
|
| |
Increase of 10% in exchange rate |
|
|
437
|
|
|
|
1,427 |
|
| |
Decrease of 10% in exchange rate |
|
|
(437 |
) |
|
|
(1,427 |
) |
| |
|
|
|
|
|
|
|
|
|
| |
Sensitivity test to changes in the market price of listed securities: |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Gain (loss) from the change: |
|
|
|
|
|
|
|
|
| |
Increase of 10% in market price |
|
|
(1,020 |
) |
|
|
(1,539 |
) |
| |
Decrease of 10% in market price |
|
|
981 |
|
|
|
1,472 |
|
|
*) |
According
to binomial model a 10% increase in the market price of listed securities will increase
the price of warrants exercisable into shares by approximately 15% and a 10% decrease in
the market price of listed securities will decrease the price of warrants exercisable
into shares by approximately 15%. |
|