Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-179331
Prospectus Supplement No. 6
(to Prospectus dated July 19, 2012, as supplemented by Prospectus Supplement No. 1 dated August 16, 2013, Prospectus Supplement No. 2 dated August 16, 2013, Prospectus Supplement No. 3 dated August 16, 2013, Prospectus Supplement No. 4 dated August 16, 2013 and Prospectus Supplement No. 5 dated August 16, 2013)
BRAINSTORM CELL THERAPEUTICS INC.
19,818,972 Shares of Common Stock
Warrants to Purchase 14,864,229 Shares of Common Stock
and
14,864,229 Shares of Common Stock Underlying Warrants
This prospectus supplement, together with the prospectus listed above, is to be used by certain holders of the above-referenced securities or by their pledgees, donees, transferees or other successors-in-interest in connection with the offer and sale of such securities.
This prospectus supplement updates and should be read in conjunction with the prospectus dated July 19, 2012 (as supplemented to date), which is to be delivered with this prospectus supplement. Such documents contain information that should be considered when making your investment decision. To the extent there is a discrepancy between the information contained herein and the information in the prospectus, the information contained herein supersedes and replaces such conflicting information.
This prospectus supplement consists of Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “Commission”) on November 14, 2013 (the “Form 10-Q”).
Our common stock is traded on the OTCQB Marketplace, operated by OTC Markets Group, under the symbol “BCLI”. On November 12, 2013, the last reported sales price for our common stock was $0.18 per share. We do not intend to list the warrants on any securities exchange or other trading market and we do not expect that a public trading market will develop for the warrants.
Investing in the Company’s securities involves risks. See “Risk Factors” beginning on page 4 of the Prospectus, as supplemented or amended by the prospectus supplements filed to date, to read about factors you should consider.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this Prospectus Supplement No. 6 is November 14, 2013
Delaware | 20-8133057 |
(State or other jurisdiction of | (I.R.S. Employer |
incorporation or organization) | Identification No.) |
Large accelerated filer ¨ | Accelerated filer ¨ | ||
Non-accelerated filer ¨ (Do not check if a smaller reporting company) | Smaller reporting company x |
| Page |
| Number |
PART I | |
| |
Item 1. Financial Statements | 3 |
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 34 |
Item 3. Quantitative and Qualitative Disclosures About Market Risk | 41 |
Item 4. Controls and Procedures | 41 |
| |
PART II | |
| |
Item 1. Legal Proceedings | 42 |
Item 1A. Risk Factors | 42 |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 43 |
Item 5. Other Information | 43 |
Item 6. Exhibits | 43 |
3 | ||
| Page |
| |
Consolidated Balance Sheets | 5 |
| |
Consolidated Statements of Operations | 6 |
| |
Statements of Changes in Stockholders' Equity (Deficiency) | 7-15 |
| |
Consolidated Statements of Cash Flows | 16-17 |
| |
Notes to Consolidated Financial Statements | 18 - 33 |
4 | ||
| | September 30, | | December 31, | |
| | 2013 | | 2012 | |
| | Unaudited | | Audited | |
ASSETS | | | | | |
| | | | | |
Current Assets: | | | | | |
Cash and cash equivalents | | 329 | | 1,317 | |
Short-term deposit | | 4,786 | | 2,769 | |
Account receivable | | 502 | | 742 | |
Prepaid expenses | | 55 | | 46 | |
Total current assets | | 5,672 | | 4,874 | |
| | | | | |
Long-Term Assets: | | | | | |
Prepaid expenses | | 28 | | 17 | |
Severance payment fund | | 245 | | 172 | |
Total long-term assets | | 273 | | 189 | |
| | | | | |
Property and Equipment, Net | | 267 | | 247 | |
| | | | | |
Total assets | | 6,212 | | 5,310 | |
| | | | | |
LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | |
| | | | | |
Current Liabilities: | | | | | |
Trade payables | | 446 | | 358 | |
Accrued expenses | | 710 | | 605 | |
Other accounts payable | | 230 | | 176 | |
Total current liabilities | | 1,386 | | 1,139 | |
| | | | | |
Accrued Severance Pay | | 291 | | 189 | |
| | | | | |
Total liabilities | | 1,677 | | 1,328 | |
| | | | | |
Stockholders' Equity: | | | | | |
Stock capital: (Note 6) | | 8 | | 7 | |
Common stock of $0.00005 par value - Authorized: 800,000,000 shares at September 30, 2013 and December 31, 2012; Issued and outstanding: 176,243,587 and 150,085,035 shares at September 30, 2013 and December 31, 2012 respectively. | | | | | |
Additional paid-in-capital | | 55,717 | | 51,483 | |
Deficit accumulated during the development stage | | (51,190) | | (47,508) | |
Total stockholders' equity | | 4,535 | | 3,982 | |
| | | | | |
Total liabilities and stockholders' equity | | 6,212 | | 5,310 | |
5 | ||
| | | | | | | | | | | | | | Period from | | |
| | | | | | | | | | | | | | September 22, | | |
| | | | | | | | | | | | | | 2000 (inception | | |
| | Nine months ended | | Three months ended | | date) through | | |||||||||
| | September 30, | | September 30, | | September 30, | | |||||||||
| | 2013 | | 2012 | | 2013 | | 2012 | | 2013 | | |||||
| | Unaudited | | Unaudited | | Unaudited | | |||||||||
| | | | | | | | | | | | | | | | |
Operating costs and expenses: | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Research and development, net | | $ | 2,068 | | $ | 1,486 | | $ | 804 | | $ | 732 | | $ | 28,257 | |
General and administrative | | | 1,574 | | | 1,397 | | | 272 | | | 440 | | | 20,325 | |
| | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 3,642 | | | 2,883 | | | 1,076 | | | 1,172 | | | 48,582 | |
| | | | | | | | | | | | | | | | |
Financial expenses (income), net | | | 21 | | | (37) | | | 5 | | | (22) | | | 2,475 | |
Other income | | | - | | | - | | | - | | | - | | | (132) | |
| | | | | | | | | | | | | | | | |
Operating loss | | | 3,663 | | | 2,846 | | | 1,081 | | | 1,150 | | | 50,925 | |
| | | | | | | | | | | | | | | | |
Taxes on income | | | 19 | | | 5 | | | 1 | | | - | | | 101 | |
| | | | | | | | | | | | | | | | |
Loss from continuing operations | | | 3,682 | | | 2,851 | | | 1,082 | | | 1,150 | | | 51,026 | |
| | | | | | | | | | | | | | | | |
Net loss from discontinued operations | | | - | | | - | | | - | | | - | | | 164 | |
| | | | | | | | | | | | | | | | |
Net loss | | $ | 3,682 | | $ | 2,851 | | $ | 1,082 | | $ | 1,150 | | $ | 51,190 | |
Basic and diluted net loss per share from continuing operations | | $ | 0.02 | | $ | 0.02 | | $ | 0.01 | | $ | 0.01 | | | | |
| | | | | | | | | | | | | | | | |
Weighted average number of shares outstanding used in computing basic and diluted net loss per share | | | 152,094,266 | | | 133,403,123 | | | 164,223,127 | | | 145,407,840 | | | | |
6 | ||
| | | | | | | | | | | | | Deficit accumulated | | Total | | ||
| | Common stock | | Additional paid-in | | Deferred Stock - based | | during the development | | stockholders' equity | | |||||||
| | Number | | Amount | | capital | | compensation | | stage | | (deficiency) | | |||||
| | | | | | | | | | | | | | | | | | |
Balance as of September 22, 2000 (date of inception) (unaudited) | | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | |
| | | | | | | | | | | | | | | | | | |
Stock issued on September 22, 2000 for cash at $0.00188 per share | | 8,500,000 | | | 1 | | | 16 | | | - | | | - | | | 17 | |
Stock issued on March 31, 2001 for cash at $0.0375 per share | | 1,600,000 | | * | - | | | 60 | | | - | | | - | | | 60 | |
Contribution of capital | | - | | | - | | | 8 | | | - | | | - | | | 8 | |
Net loss | | - | | | - | | | - | | | - | | | (17) | | | (17) | |
| | | | | | | | | | | | | | | | | | |
Balance as of March 31, 2001 (unaudited) | | 10,100,000 | | | 1 | | | 84 | | | - | | | (17) | | | 68 | |
| | | | | | | | | | | | | | | | | | |
Contribution of capital | | - | | | - | | | 11 | | | - | | | - | | | 11 | |
Net loss | | - | | | - | | | - | | | - | | | (26) | | | (26) | |
Balance as of March 31, 2002 (unaudited) | | 10,100,000 | | | 1 | | | 95 | | | - | | | (43) | | | 53 | |
| | | | | | | | | | | | | | | | | | |
Contribution of capital | | - | | | - | | | 15 | | | - | | | - | | | 15 | |
Net loss | | - | | | - | | | - | | | - | | | (47) | | | (47) | |
Balance as of March 31, 2003 (unaudited) | | 10,100,000 | | | 1 | | | 110 | | | - | | | (90) | | | 21 | |
| | | | | | | | | | | | | | | | | | |
2-for-1 stock split | | 10,100,000 | | * | - | | | - | | | - | | | - | | | - | |
Stock issued on August 31, 2003 to purchase mineral option at $0.065 per share | | 100,000 | | * | - | | | 6 | | | - | | | - | | | 6 | |
Cancellation of shares granted to Company's President | | (10,062,000) | | * | - | | * | - | | | - | | | - | | | - | |
Contribution of capital | | - | | * | - | | | 15 | | | - | | | - | | | 15 | |
Net loss | | - | | | - | | | - | | | - | | | (73) | | | (73) | |
Balance as of March 31, 2004 (unaudited) | | 10,238,000 | | $ | 1 | | $ | 131 | | $ | - | | $ | (163) | | $ | (31) | |
7 | ||
| | | | | | | Additional | | Deferred | | Deficit accumulated during the | | Total stockholders' | | ||||
| Common stock | | paid-in | | Stock - based | | development | | equity | | ||||||||
| Number | | Amount | | capital | | compensation | | stage | | (deficiency) | | ||||||
| | | | | | | | | | | | | | | | | | |
Balance as of March 31, 2004 | | 10,238,000 | | $ | 1 | | $ | 131 | | $ | - | | $ | (163) | | $ | (31) | |
| | | | | | | | | | | | | | | | | | |
Stock issued on June 24, 2004 for private placement at $0.01 per share, net of $25,000 issuance expenses | | 8,510,000 | | * | - | | | 60 | | | - | | | - | | | 60 | |
Contribution capital | | - | | | - | | | 7 | | | - | | | - | | | 7 | |
Stock issued in 2004 for private placement at $0.75 per unit | | 1,894,808 | | * | - | | | 1,418 | | | - | | | - | | | 1,418 | |
Cancellation of shares granted to service providers | | (1,800,000) | | * | - | | | | | | - | | | - | | | - | |
Deferred stock-based compensation related to options granted to employees | | - | | | - | | | 5,979 | | | (5,979) | | | - | | | - | |
Amortization of deferred stock-based compensation related to shares and options granted to employees | | - | | | - | | | - | | | 584 | | | - | | | 584 | |
Compensation related to shares and options granted to service providers | | 2,025,000 | | * | - | | | 17,506 | | | - | | | - | | | 17,506 | |
Net loss | | - | | | - | | | - | | | - | | | (18,840) | | | (18,840) | |
| | | | | | | | | | | | | | | | | | |
Balance as of March 31, 2005 | | 20,867,808 | | $ | 1 | | $ | 25,101 | | $ | (5,395) | | $ | (19,003) | | $ | 704 | |
8 | ||
| | | | | | | | | | | | | Deficit accumulated | | Total | | ||
| | | | | | | Additional | | Deferred | | during the | | stockholders' | | ||||
| | Common stock | | paid-in | | Stock - based | | development | | equity | | |||||||
| | Number | | Amount | | capital | | compensation | | stage | | (deficiency) | | |||||
Balance as of March 31, 2005 | | 20,867,808 | | $ | 1 | | $ | 25,101 | | $ | (5,395) | | $ | (19,003) | | $ | 704 | |
Stock issued on May 12, 2005 for private placement at $0.8 per share | | 186,875 | | * | - | | | 149 | | | - | | | - | | | 149 | |
Stock issued on July 27, 2005 for private placement at $0.6 per share | | 165,000 | | * | - | | | 99 | | | - | | | - | | | 99 | |
Stock issued on September 30, 2005 for private placement at $0.8 per share | | 312,500 | | * | - | | | 225 | | | - | | | - | | | 225 | |
Stock issued on December 7, 2005 for private placement at $0.8 per share | | 187,500 | | * | - | | | 135 | | | - | | | - | | | 135 | |
Forfeiture of options granted to employees | | - | | | - | | | (3,363) | | | 3,363 | | | - | | | - | |
Deferred stock-based compensation related to shares and options granted to directors and employees | | 200,000 | | * | - | | | 486 | | | (486) | | | - | | | - | |
Amortization of deferred stock-based compensation related to options and shares granted to employees and directors | | - | | | - | | | 51 | | | 1,123 | | | - | | | 1,174 | |
Stock-based compensation related to options and shares granted to service providers | | 934,904 | | * | - | | | 662 | | | - | | | - | | | 662 | |
Reclassification due to application of ASC 815-40-25 (formerly EITF 00-19) | | - | | | - | | | (7,906) | | | | | | | | | (7,906) | |
Beneficial conversion feature related to a convertible bridge loan | | - | | | - | | | 164 | | | - | | | - | | | 164 | |
Net loss | | - | | | - | | | - | | | - | | | (3,317) | | | (3,317) | |
Balance as of March 31, 2006 | | 22,854,587 | | $ | 1 | | $ | 15,803 | | $ | (1,395) | | $ | (22,320) | | $ | (7,911) | |
Elimination of deferred stock compensation due to implementation of ASC 718-10 (formerly SFAS 123(R)) | | - | | | - | | | (1,395) | | | 1,395 | | | - | | | - | |
Stock-based compensation related to shares and options granted to directors and employees | | 200,000 | | * | - | | | 1,168 | | | - | | | - | | | 1,168 | |
Reclassification due to application of ASC 815-40-25 (formerly EITF 00-19) | | - | | | - | | | 7,191 | | | - | | | - | | | 7,191 | |
Stock-based compensation related to options and shares granted to service providers | | 1,147,225 | | | - | | | 453 | | | - | | | - | | | 453 | |
Warrants issued to convertible note holder | | - | | | - | | | 11 | | | - | | | - | | | 11 | |
Warrants issued to loan holder | | - | | | - | | | 110 | | | - | | | - | | | 110 | |
Beneficial conversion feature related to convertible bridge loans | | - | | | - | | | 1,086 | | | - | | | - | | | 1,086 | |
Net loss | | - | | | - | | | - | | | - | | | (3,924) | | | (3,924) | |
Balance as of December 31, 2006 | | 24,201,812 | | $ | 1 | | $ | 24,427 | | $ | - | | $ | (26,244) | | $ | (1,816) | |
9 | ||
| | | | | | | | | | | | | Deficit accumulated | | Total | | ||
| | | | | | | Additional | | Deferred | | during the | | stockholders' | | ||||
| | Common stock | | paid-in | | Stock - based | | development | | equity | | |||||||
| | Number | | Capital | | compensation | | stage | | stage | | (deficiency) | | |||||
Balance as of December 31, 2006 | | 24,201,812 | | $ | 1 | | $ | 24,427 | | $ | - | | $ | (26,244) | | $ | (1,816) | |
Stock-based compensation related to options and shares granted to service providers | | 544,095 | | | | | | 1,446 | | | - | | | - | | | 1,446 | |
Warrants issued to convertible note holder | | - | | | - | | | 109 | | | - | | | - | | | 109 | |
Stock-based compensation related to shares and options granted to directors and employees | | 200,000 | | * | - | | | 1,232 | | | - | | | - | | | 1,232 | |
Beneficial conversion feature related to convertible loans | | - | | | - | | | 407 | | | - | | | - | | | 407 | |
Conversion of convertible loans | | 725,881 | | * | - | | | 224 | | | - | | | - | | | 224 | |
Exercise of warrants | | 3,832,621 | | * | - | | | 214 | | | - | | | - | | | 214 | |
Stock issued for private placement at $0.1818 per unit, net of finder's fee | | 11,500,000 | | | 1 | | | 1,999 | | | - | | | - | | | 2,000 | |
Net loss | | - | | | - | | | - | | | - | | | (6,244) | | | (6,244) | |
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2007 | | 41,004,409 | | $ | 2 | | $ | 30,058 | | $ | - | | $ | (32,488) | | $ | (2,428) | |
Stock-based compensation related to options and stock granted to service providers | | 90,000 | | | - | | | 33 | | | - | | | - | | | 33 | |
Stock-based compensation related to stock and options granted to directors and employees | | - | | | - | | | 731 | | | - | | | - | | | 731 | |
Conversion of convertible loans | | 3,644,610 | | * | - | | | 1,276 | | | - | | | - | | | 1,276 | |
Exercise of warrants | | 1,860,000 | | * | - | | | - | | | - | | | - | | | - | |
Exercise of options | | 17,399 | | * | - | | | 3 | | | - | | | - | | | 3 | |
Stock issued for private placement at $0.1818 per unit, net of finder's fee | | 8,625,000 | | | 1 | | | 1,499 | | | - | | | - | | | 1,500 | |
Subscription of shares for private placement at $0.1818 per unit | | - | | | - | | | 281 | | | - | | | - | | | 281 | |
Net loss | | - | | | - | | | - | | | - | | | (3,472) | | | (3,472) | |
Balance as of December 31, 2008 | | 55,241,418 | | $ | 3 | | $ | 33,881 | | $ | - | | $ | (35,960) | | $ | (2,076) | |
10 | ||
| | Common stock | | Additional paid-in | | Deferred stock - based | | Deficit accumulated during the development | | Total stockholders' equity | | |||||||
| | Number | | | Amount | | capital | | compensation | | stage | | (deficiency) | | ||||
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2008 | | 55,241,418 | | $ | 3 | | $ | 33,881 | | $ | - | | $ | (35,960) | | $ | (2,076) | |
| | | | | | | | | | | | | | | | | | |
Stock-based compensation related to options and stock granted to service providers | | 5,284,284 | | * | | | | 775 | | | - | | | - | | | 775 | |
Stock-based compensation related to stock and options granted to directors and employees | | - | | | - | | | 409 | | | - | | | - | | | 409 | |
Conversion of convertible loans | | 2,500,000 | | * | | | | 200 | | | - | | | - | | | 200 | |
Exercise of warrants | | 3,366,783 | | * | | | | - | | | - | | | - | | | - | |
Stock issued for amendment of private placement | | 9,916,667 | | | 1 | | | - | | | - | | | - | | | 1 | |
Subscription of shares | | - | | | - | | | 729 | | | - | | | - | | | 729 | |
Net loss | | - | | | - | | | - | | | - | | $ | (1,781) | | | (1,781) | |
Balance as of December 31, 2009 | | 76,309,152 | | $ | 4 | | $ | 35,994 | | $ | - | | $ | (37,741) | | $ | (1,743) | |
11 | ||
| | | | | | | | | | | | | Deficit | | | | | |
| | | | | | | | | | | | | accumulated | | Total | | ||
| | Common stock | | Additional paid-in | | Deferred Stock - based | | during the development | | stockholders' equity | | |||||||
| | Number | | Amount | | capital | | compensation | | stage | | (deficiency) | | |||||
Balance as of December 31, 2009 | | 76,309,152 | | $ | 4 | | $ | 35,994 | | $ | - | | $ | (37,741) | | $ | (1,743) | |
Stock-based compensation related to options and stock granted to service providers | | 443,333 | | * | - | | | 96 | | | - | | | - | | | 96 | |
Stock-based compensation related to stock and options granted to directors and employees | | 466,667 | | * | - | | | 388 | | | - | | | - | | | 388 | |
Stock issued for amendment of private placement | | 7,250,000 | | | 1 | | | 1,750 | | | - | | | - | | | 1,751 | |
Conversion of convertible note | | 402,385 | | * | - | | | 135 | | | - | | | - | | | 135 | |
Conversion of convertible loans | | 1,016,109 | | * | - | | | 189 | | | - | | | - | | | 189 | |
Issuance of shares | | 2,475,000 | | | | | | 400 | | | | | | | | | 400 | |
Exercise of options | | 1,540,885 | | * | - | | | 77 | | | - | | | - | | | 77 | |
Exercise of warrants | | 3,929,446 | | * | - | | | 11 | | | - | | | - | | | 11 | |
Subscription of shares for private placement at $0.12 per unit | | | | | - | | | 455 | | | - | | | - | | | 455 | |
Conversion of trade payable to stock | | | | | - | | | 201 | | | - | | | - | | | 201 | |
Issuance of shares on account of previously subscribed shares | | 2,000,001 | | * | - | | | - | | | - | | | - | | | - | |
Net loss | | | | | | | | | | | | | | (2,419) | | | (2,419) | |
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2010 | | 95,832,978 | | $ | 5 | | $ | 39,696 | | $ | - | | $ | (40,160) | | $ | (459) | |
12 | ||
| | | | | | | | | | | | | Deficit | | | | | |
| | | | | | | | | | | | | Accumulated | | Total | | ||
| | Common stock | | Additional paid-in | | Deferred Stock - based | | during the development | | stockholders' equity | | |||||||
| | Number | | Amount | | capital | | compensation | | Stage | | (deficiency) | | |||||
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2010 | | 95,832,978 | | $ | 5 | | $ | 39,696 | | $ | - | | $ | (40,160) | | $ | (459) | |
| | | | | | | | | | | | | | | | | | |
Stock-based compensation related to options and stock granted to service providers | | 474,203 | | | - | | | 449 | | | - | | | - | | | 449 | |
Stock-based compensation related to stock and options granted to directors and employees | | 2,025,040 | | | - | | | 1,135 | | | - | | | - | | | 1,135 | |
Conversion of convertible note | | 755,594 | | | - | | | 140 | | | - | | | - | | | 140 | |
Exercise of options | | 1,648,728 | | | - | | | 243 | | | - | | | - | | | 243 | |
Exercise of warrants | | 1,046,834 | | | - | | | 272 | | | - | | | - | | | 272 | |
Issuance of shares for private placement | | 14,160,933 | | | 1 | | | 3,601 | | | - | | | - | | | 3,602 | |
Issuance of shares on account of previously subscribed shares | | 10,499,999 | | | - | | | 24 | | | - | | | - | | | 24 | |
Net loss | | - | | | - | | | - | | | - | | | (3,918) | | | (3,918) | |
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2011 | | 126,444,309 | | $ | 6 | | $ | 45,560 | | $ | - | | $ | (44,078) | | $ | 1,488 | |
13 | ||
| | | | | | | | | | | | | Deficit | | | | | |
| | | | | | | | | | | | | accumulated | | | | | |
| | | | | | | Additional | | Deferred | | during the | | Total | | ||||
| | Common stock | | paid-in | | Stock - based | | development | | stockholders' | | |||||||
| | Number | | Amount | | capital | | compensation | | stage | | equity | | |||||
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2011 | | 126,444,309 | | $ | 6 | | $ | 45,560 | | $ | - | | $ | (44,078) | | $ | 1,488 | |
| | | | | | | | | | | | | | | | | | |
Stock-based compensation related to options and stock granted to service providers | | 794,423 | | | - | | | 195 | | | - | | | - | | | 195 | |
Stock-based compensation related to stock and options granted to directors and employees | | 885,000 | | | - | | | 560 | | | - | | | - | | | 560 | |
Exercise of options | | 1,182,606 | | * | | | | 137 | | | - | | | - | | | 137 | |
Exercise of warrants | | 959,729 | | * | | | | 9 | | | - | | | - | | | 9 | |
Issuance of shares for private placement | | 19,818,968 | | | 1 | | | 5,022 | | | | | | - | | | 5,023 | |
Net loss | | - | | | - | | | - | | | - | | | (3,430) | | | (3,430) | |
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2012 | | 150,085,035 | | $ | 7 | | $ | 51,483 | | $ | - | | $ | (47,508) | | $ | 3,982 | |
14 | ||
| | | | | | | | | | | | | Deficit | | | | | |
| | | | | | | | | | | | | accumulated | | | | | |
| | | | | | | Additional | | Deferred | | during the | | Total | | ||||
| | Common stock | | paid-in | | Stock - based | | development | | stockholders' | | |||||||
| | Number | | Amount | | capital | | compensation | | stage | | equity | | |||||
| | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2012 | | 150,085,035 | | $ | 7 | | $ | 51,483 | | $ | - | | $ | (47,508) | | $ | 3,982 | |
| | | | | | | | | | | | | | | | | | |
Stock-based compensation related to options and stock granted to service providers | | 809,696 | | | | | | 183 | | | - | | | - | | | 183 | |
Stock-based compensation related to stock and options granted to directors and employees | | 760,000 | | | | | | 439 | | | - | | | - | | | 439 | |
Issuance of shares for public offering | | 23,529,411 | | | 1 | | | 3,325 | | | - | | | - | | | 3,326 | |
Issuance of shares for private placement | | 833,334 | | | - | | | 250 | | | - | | | - | | | 250 | |
Conversion of convertible loans | | 126,111 | | | - | | | 30 | | | - | | | - | | | 30 | |
Exercise of options | | 100,000 | | | - | | | 7 | | | - | | | - | | | 7 | |
Net loss | | - | | | - | | | - | | | - | | | (3,682) | | | (3,682) | |
| | | | | | | | | | | | | | | | | | |
Balance as of September 30, 2013 | | 176,243,587 | | | 8 | | | 55,717 | | | - | | | (51,190) | | | 4,535 | |
15 | ||
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