2015 Q1 Form 10-K Financial Statement

#000114420415015698 Filed on March 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014
Revenue $477.0K $870.0K $2.818M
YoY Change -67.81% -43.87% -42.17%
Cost Of Revenue $514.0K $480.0K $2.034M
YoY Change -17.76% -30.43% -10.91%
Gross Profit -$37.00K $390.0K $784.0K
YoY Change -104.32% -54.65% -69.73%
Gross Profit Margin -7.76% 44.83% 27.82%
Selling, General & Admin $2.987M $3.580M $15.74M
YoY Change -21.7% -11.17% 25.01%
% of Gross Profit 917.95% 2007.4%
Research & Development $1.352M $1.260M $8.744M
YoY Change -47.54% -28.81% 110.39%
% of Gross Profit 323.08% 1115.31%
Depreciation & Amortization $80.00K $80.00K $163.0K
YoY Change 33.33% 33.33% 0.62%
% of Gross Profit 20.51% 20.79%
Operating Expenses $4.853M $4.840M $24.48M
YoY Change -24.08% -16.7% 38.61%
Operating Profit -$4.890M -$4.450M -$23.70M
YoY Change -11.65% -10.1% 57.22%
Interest Expense $301.0K -$330.0K $1.409M
YoY Change -14.49% -23.26% -66.99%
% of Operating Profit
Other Income/Expense, Net -$306.0K -$10.00K -$1.385M
YoY Change -25.91% -50.0% -90.23%
Pretax Income -$5.196M -$4.780M -$25.08M
YoY Change -12.64% -11.15% -14.25%
Income Tax $16.00K $10.00K $12.00K
% Of Pretax Income
Net Earnings -$5.212M -$4.790M -$25.10M
YoY Change -12.67% -11.13% -14.23%
Net Earnings / Revenue -1092.66% -550.57% -890.53%
Basic Earnings Per Share
Diluted Earnings Per Share -$4.568B -$5.398B -$30.98B
COMMON SHARES
Basic Shares Outstanding 78.15M shares 42.40M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.19M $6.300M $6.300M
YoY Change -3.79% -64.08% -64.08%
Cash & Equivalents $13.19M $6.300M $6.300M
Short-Term Investments
Other Short-Term Assets $110.0K $150.0K $150.0K
YoY Change -45.0% -34.78% -34.78%
Inventory $1.750M $1.924M $1.924M
Prepaid Expenses $109.0K $150.0K
Receivables $719.0K $635.0K $635.0K
Other Receivables $280.0K $17.00K $359.0K
Total Short-Term Assets $16.04M $9.368M $9.368M
YoY Change -6.79% -56.64% -56.63%
LONG-TERM ASSETS
Property, Plant & Equipment $584.0K $622.0K $622.0K
YoY Change -6.41% -4.6% -4.31%
Goodwill
YoY Change
Intangibles $400.0K $752.0K
YoY Change -52.21% -11.74%
Long-Term Investments
YoY Change
Other Assets $1.100M $1.469M $1.469M
YoY Change -34.13% -14.09% -14.09%
Total Long-Term Assets $1.682M $2.091M $2.091M
YoY Change -26.68% -11.47% -11.77%
TOTAL ASSETS
Total Short-Term Assets $16.04M $9.368M $9.368M
Total Long-Term Assets $1.682M $2.091M $2.091M
Total Assets $17.72M $11.46M $11.46M
YoY Change -9.13% -52.19% -52.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $670.0K $910.0K $909.0K
YoY Change -52.48% -43.83% -43.89%
Accrued Expenses $958.0K $993.0K $3.561M
YoY Change 31.77% 12.08% 14.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.910M $3.810M $0.00
YoY Change 86.19% 222.88% -100.0%
Total Short-Term Liabilities $7.502M $8.473M $8.473M
YoY Change -0.08% 38.36% 38.45%
LONG-TERM LIABILITIES
Long-Term Debt $4.140M $5.090M $5.086M
YoY Change -46.58% -40.75% -40.79%
Other Long-Term Liabilities $700.0K $690.0K $687.0K
YoY Change 9.38% 13.11% 12.62%
Total Long-Term Liabilities $4.837M $5.773M $5.773M
YoY Change -42.31% -37.27% -37.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.502M $8.473M $8.473M
Total Long-Term Liabilities $4.837M $5.773M $5.773M
Total Liabilities $12.34M $14.25M $14.25M
YoY Change -22.36% -7.05% -7.07%
SHAREHOLDERS EQUITY
Retained Earnings -$112.6M -$107.4M
YoY Change 27.57% 30.49%
Common Stock $118.0M $104.6M
YoY Change 28.41% 15.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.385M -$2.787M -$2.787M
YoY Change
Total Liabilities & Shareholders Equity $17.72M $11.46M $11.46M
YoY Change -9.13% -52.19% -52.19%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014
OPERATING ACTIVITIES
Net Income -$5.212M -$4.790M -$25.10M
YoY Change -12.67% -11.13% -14.23%
Depreciation, Depletion And Amortization $80.00K $80.00K $163.0K
YoY Change 33.33% 33.33% 0.62%
Cash From Operating Activities -$4.620M -$5.090M -$19.36M
YoY Change 24.53% 44.19% 87.98%
INVESTING ACTIVITIES
Capital Expenditures $1.000K -$20.00K $133.0K
YoY Change -92.31% -80.0% -34.16%
Acquisitions
YoY Change
Other Investing Activities -$10.00K $10.00K $47.00K
YoY Change -50.0% -125.0% -167.14%
Cash From Investing Activities -$10.00K -$20.00K -$86.00K
YoY Change -66.67% -85.71% -77.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.50M $7.400M -$9.535M
YoY Change -58.33%
Debt Paid & Issued, Net $891.0K $1.148M
YoY Change
Cash From Financing Activities 11.56M 6.450M 8.272M
YoY Change -14550.0% -33.91% -45.3%
NET CHANGE
Cash From Operating Activities -4.620M -5.090M -19.36M
Cash From Investing Activities -10.00K -20.00K -86.00K
Cash From Financing Activities 11.56M 6.450M 8.272M
Net Change In Cash 6.930M 1.340M -11.18M
YoY Change -281.41% -78.0% -351.32%
FREE CASH FLOW
Cash From Operating Activities -$4.620M -$5.090M -$19.36M
Capital Expenditures $1.000K -$20.00K $133.0K
Free Cash Flow -$4.621M -$5.070M -$19.50M
YoY Change 24.12% 47.81% 85.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q2 dei Entity Public Float
EntityPublicFloat
90786938 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
58000 USD
CY2014 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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57000 USD
us-gaap Operating Expenses
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10490000 USD
CY2013 us-gaap Operating Expenses
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17663000 USD
CY2012 us-gaap Operating Expenses
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20045000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-8827000 USD
CY2013 us-gaap Operating Income Loss
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-15073000 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33983346 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013 us-gaap Cost Of Revenue
CostOfRevenue
2283000 USD
CY2012 us-gaap Cost Of Revenue
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2849000 USD
us-gaap Gross Profit
GrossProfit
1663000 USD
CY2013 us-gaap Gross Profit
GrossProfit
2590000 USD
CY2012 us-gaap Gross Profit
GrossProfit
2500000 USD
CY2013 us-gaap Royalty Expense
RoyaltyExpense
918000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3315000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4156000 USD
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3988000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2647000 USD
CY2013 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3616000 USD
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2174000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4528000 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2012 us-gaap General And Administrative Expense
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13883000 USD
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-17545000 USD
us-gaap Interest Expense
InterestExpense
273000 USD
CY2013 us-gaap Interest Expense
InterestExpense
4268000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14000 USD
CY2012 us-gaap Interest Expense
InterestExpense
1238000 USD
us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-226000 USD
CY2013 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-9909000 USD
CY2012 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
1200000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9326000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-29250000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17583000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10000 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000 USD
CY2012Q4 nspr Royalty Fee Percent Of Sales Exceeding Threshold
RoyaltyFeePercentOfSalesExceedingThreshold
0.029 pure
us-gaap Net Income Loss
NetIncomeLoss
-9336000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-29258000 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-17597000 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.27
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.39
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.04
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33963901 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20995887 shares
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16707599 shares
us-gaap Revenues
Revenues
3105000 USD
CY2013 us-gaap Revenues
Revenues
4873000 USD
CY2012 us-gaap Revenues
Revenues
5349000 USD
us-gaap Cost Of Revenue
CostOfRevenue
1442000 USD
CY2012 us-gaap Royalty Expense
RoyaltyExpense
USD
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>NOTE <font>1</font>&#160;- DESCRIPTION OF BUSINESS</strong></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.7pt; text-indent: 0in;">&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><strong>a. &#160; &#160; &#160;General</strong></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">InspireMD, Inc., a Delaware corporation (the &#147;Company&#148;), together with its subsidiaries, is a medical device company focusing on the development and commercialization of its proprietary MicroNet&#153; stent platform technology for the treatment of complex coronary and vascular disease. MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. The Company's coronary products combining MicroNet and a bare-metal stent (MGuard Prime&#153; EPS) are marketed for use in patients with acute coronary syndromes, notably acute myocardial infarction (heart attack) and saphenous vein graft coronary interventions (bypass surgery). In October 2014, the Company launched a limited market release of its carotid embolic prevention system (CGuard&#153; EPS), which combines MicroNet and a self-expandable nitinol stent in a single device to treat carotid artery disease. A coronary stent product incorporating a drug-eluting (drug-coated) stent with MicroNet is currently in development. The Company markets its products through distributors in international markets, mainly in Europe, Southeast Asia, India, Latin America and Israel, and through direct sales to hospitals in Europe.</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">&#160;&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><strong>b. &#160; &#160; &#160;Liquidity</strong></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;"><br/><font style="font-size: 10pt;">The Company has an accumulated deficit as of December 31, 2014, as well as net losses and negative operating cash flows in recent years and the current year. The Company expects to continue incurring losses and negative cash flows from operations until its MGuard&#153; and CGuard&#153; products reach commercial profitability. Management of the Company presently anticipates that it has sufficient resources to fund operations through the second quarter of 2016.</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;"><br/>Management's plans include (i) the<font style="font-family: 'Times New Roman', Times, serif;"> </font>continued commercialization of the MGuard&#174; and CGuard products, (ii) raising<font style="font-family: 'Times New Roman', Times, serif;"> </font>capital through the sale of additional equity securities or debt and (iii) obtaining financing through strategic partnerships. There<font style="font-family: 'Times New Roman', Times, serif;"> </font>are no assurances, however, that the Company will be successful in obtaining<font style="font-family: 'Times New Roman', Times, serif;"> </font>the level of financing needed for its operations. If the Company is unsuccessful<font style="font-family: 'Times New Roman', Times, serif;"> </font>in commercializing its MGuard or CGuard products and raising capital,<font style="font-family: 'Times New Roman', Times, serif;"> </font>it may need to reduce activities, curtail or cease operations<font style="font-family: 'Times New Roman', Times, serif;">.</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px;">&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">During the fourth quarter of 2014, the Company began implementing a focused spending plan. The plan included reducing the focus of clinical and development expenses related to the Company's bare metal stent product and increasing the focus on the Company's drug eluting stent product. Prior to the fourth quarter of 2014, a large portion of the Company's organization was supporting the MASTER II trial, in which the Company determined not to resume enrollment, and instead allocated resources to drug eluting stents and the CGuard platform.</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">During the first quarter of 2015, the board of directors approved implementing another cost reduction/focused spending plan. The plan has four components: (i) reducing headcount; (ii) limiting the focus of clinical and development expenses to only the drug eluting stent product; (iii) limiting sales and marketing expenses to only those related to the CGuard EPS stent launch; and (iv) reducing across the board all other expenses (conferences, travel, promotional expenses, executive cash salaries, director cash fees, etc.). Prior to the cost reduction plan, a large portion of the Company's organization was supporting clinical trials and promotional activities related to the Company's bare metal stent platform. The Company decided to discontinue all work and promotion (such as conferences, clinical studies, and some sales activities) related to the bare metal platform. This decision allowed the Company to eliminate certain positions that related only to these activities. In addition, the Company dramatically cut all expenses not directly related to the CGuard launch and drug eluting platform development.</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">In addition, to reduce the usage of cash, on January 5, 2015, the Company amended the employment agreements with the Company's CEO and COO, to provide that, for a limited period of time to be mutually agreed upon by the Company and the CEO and COO, each of the CEO and the COO shall receive <font>50</font>% of his base salary in cash payments, with the remaining <font>50</font>% to be paid in an equivalent amount of shares of restricted common stock, payable and granted in equal installments in accordance with the Company's&#160;normal payroll <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">practices. On February 22, 2015, the COO's employment agreement was further amended to provide that the payment arrangement described above would continue until the earlier of (i) September 30, 2015 and (ii) the Company raising an aggregate of $<font>5</font> million from investors. The Company's March 9, 2015 public offering raised in excess of $5 million and therefore the COO's payment arrangement will, by the terms of this agreement, no longer be 50% paid in restricted stock. 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The FDA approved the re-commencement of the MASTER II trial in October 2014.&#160;</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><font style="font-size: 10pt;">Notwithstanding FDA approval to re-commence enrollment of the Master II trial, in light of current market conditions moving toward the use of drug-eluting stents (DES) over bare-metal stents, the Company elected not to resume enrollment in the MASTER II trial. As a result of this change, the MASTER II trial will no longer be an FDA registration trial.</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;"><strong>d. &#160; &#160; &#160;Fundraising</strong></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 49.65pt; text-align: justify; text-indent: 0.5in;">&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;">On November 7, 2014, the Company sold <font>6,261,846</font> shares of its common stock and warrants to purchase <font>3,130,923</font> shares of common stock in a registered direct offering. See also Note 9a.</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.6in; text-align: justify;">&#160;</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 57.5999984741211px; text-align: justify;">On March 9, 2015, the Company sold <font>34,369,675</font> shares of its common stock and warrants to purchase <font>34,369,675</font> shares of common stock in a registered direct offering. Each purchaser received a warrant to purchase <font>one</font> share of common stock for each share of common stock that it purchased in the offering. The warrants have a term of exercise of <font>5</font> years from the date of issuance and an exercise price of $<font>0.55</font>. 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us-gaap Increase Decrease In Retail Related Inventories
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CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
17000 USD
us-gaap Interest Paid
InterestPaid
111000 USD
CY2013 us-gaap Interest Paid
InterestPaid
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CY2012 us-gaap Interest Paid
InterestPaid
225000 USD
CY2013 nspr Significant Noncash Transaction Value Of Royalties Buyout
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930000 USD
nspr Noncash Investing And Financing Activity Change In Funds And Liabilities In Respect Of Employee Rights Upon Retirement
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59000 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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11066000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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3000 USD
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89000 USD
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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4536000 USD
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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2214000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2012Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2011Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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8070000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17535000 USD
us-gaap Income Taxes Paid
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8000 USD
CY2013 us-gaap Increase Decrease In Deferred Revenue
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CY2012 us-gaap Early Repayment Of Senior Debt
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us-gaap Other Noncash Expense
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us-gaap Proceeds From Issuance Of Common Stock
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CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Increase Decrease In Inventories
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CY2012 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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CY2013 us-gaap Repayments Of Long Term Debt
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CY2012 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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nspr Proceeds From Convertible Loan And Warrants Net Of Issuance Costs
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us-gaap Repayments Of Long Term Debt
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CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2012 nspr Noncash Investing And Financing Activity Change In Funds And Liabilities In Respect Of Employee Rights Upon Retirement
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Increase Decrease In Restricted Cash
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us-gaap Payments For Repurchase Of Common Stock
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CY2012 nspr Significant Noncash Transaction Value Of Royalties Buyout
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us-gaap Early Repayment Of Senior Debt
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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nspr Significant Noncash Transaction Value Of Royalties Buyout
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CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2013 nspr Noncash Investing And Financing Activity Change In Funds And Liabilities In Respect Of Employee Rights Upon Retirement
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CY2012 us-gaap Proceeds From Issuance Of Common Stock
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CY2013 us-gaap Payments For Repurchase Of Common Stock
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CY2013 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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CY2012 us-gaap Other Noncash Expense
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us-gaap Proceeds From Stock Options Exercised
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CY2013 nspr Proceeds From Convertible Loan And Warrants Net Of Issuance Costs
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CY2012Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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0.25 pure
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2013Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2014Q4 us-gaap Accounts Receivable Net Current
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635000 USD
CY2013Q4 us-gaap Accounts Receivable Net Current
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CY2014Q4 us-gaap Nontrade Receivables Current
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359000 USD
CY2013Q4 us-gaap Nontrade Receivables Current
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387000 USD
CY2014Q4 us-gaap Prepaid Expense Current
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CY2013Q4 us-gaap Prepaid Expense Current
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CY2014Q4 us-gaap Inventory Net
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CY2013Q4 us-gaap Assets Current
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CY2014Q4 us-gaap Property Plant And Equipment Net
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622000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
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CY2014Q4 us-gaap Deferred Finance Costs Noncurrent Net
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153000 USD
CY2013Q4 us-gaap Deferred Finance Costs Noncurrent Net
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CY2014Q4 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
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CY2013Q4 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
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CY2014Q4 us-gaap Prepaid Expense Noncurrent
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CY2013Q4 us-gaap Prepaid Expense Noncurrent
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114000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2014Q4 us-gaap Assets
Assets
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CY2013Q4 us-gaap Assets
Assets
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CY2013Q4 us-gaap Accounts Payable Trade Current
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CY2013Q4 us-gaap Accounts Payable Other Current
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CY2014Q4 us-gaap Customer Advances Current
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CY2013Q4 us-gaap Customer Advances Current
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CY2014Q4 us-gaap Loans Payable Current
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CY2013Q4 us-gaap Liabilities Current
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CY2013Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
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CY2014Q4 us-gaap Long Term Loans Payable
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CY2013Q4 us-gaap Liabilities
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CY2014Q4 us-gaap Common Stock Value
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q4 us-gaap Stockholders Equity
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CY2014Q4 us-gaap Liabilities And Stockholders Equity
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CY2013Q4 us-gaap Liabilities And Stockholders Equity
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CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2014Q4 us-gaap Common Stock Shares Authorized
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CY2014Q4 us-gaap Common Stock Shares Issued
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CY2013Q4 us-gaap Common Stock Shares Issued
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CY2014 us-gaap Increase Decrease In Retail Related Inventories
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CY2014 us-gaap Increase Decrease In Inventories
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331000 USD
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CY2014 us-gaap Increase Decrease In Deferred Revenue
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CY2014 us-gaap Inventory Recall Expense
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CY2014 us-gaap Royalty Expense
RoyaltyExpense
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us-gaap Royalty Expense
RoyaltyExpense
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CY2014 us-gaap Research And Development Expense
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CY2014 us-gaap Selling And Marketing Expense
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CY2014 us-gaap General And Administrative Expense
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CY2014 us-gaap Operating Expenses
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CY2012 us-gaap Nonoperating Income Expense
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CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2014 nspr Stock Issued During Period Value Share Based Compensation Expenses
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CY2014 us-gaap Depreciation Amortization And Accretion Net
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CY2014 us-gaap Share Based Compensation
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CY2014 us-gaap Defined Benefit Plan Actuarial Gain Loss
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CY2014 us-gaap Increase Decrease In Prepaid Expense
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CY2014 us-gaap Increase Decrease In Restricted Cash
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CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
133000 USD
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2014 us-gaap Increase Decrease Of Restricted Investments
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46000 USD
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CY2014 nspr Proceeds From Convertible Loan And Warrants Net Of Issuance Costs
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CY2014 us-gaap Proceeds From Stock Options Exercised
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CY2014 us-gaap Repayments Of Long Term Debt
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1148000 USD
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2014 us-gaap Payments For Repurchase Of Common Stock
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CY2014 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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115000 USD
CY2014 us-gaap Early Repayment Of Senior Debt
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CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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8272000 USD
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2014 us-gaap Income Taxes Paid
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InterestPaid
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CY2014 nspr Significant Noncash Transaction Value Of Royalties Buyout
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USD
CY2014 nspr Noncash Investing And Financing Activity Change In Funds And Liabilities In Respect Of Employee Rights Upon Retirement
NoncashInvestingAndFinancingActivityChangeInFundsAndLiabilitiesInRespectOfEmployeeRightsUponRetirement
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CY2014 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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CY2014 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
881000 USD
CY2012 us-gaap Depreciation
Depreciation
120000 USD
CY2013Q4 nspr Registration Payment Arrangement Maximum Amount Of Offering
RegistrationPaymentArrangementMaximumAmountOfOffering
40000000 USD
CY2013Q4 nspr Registration Payment Arrangement Commission Rate
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0.03 pure
CY2014Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
55000 USD
CY2014Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6261846 shares
CY2013Q4 us-gaap Property Plant And Equipment Gross
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1364000 USD
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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712000 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
875000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1497000 USD
CY2014 us-gaap Depreciation
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163000 USD
us-gaap Depreciation
Depreciation
78000 USD
CY2013 us-gaap Depreciation
Depreciation
162000 USD
CY2014 us-gaap Postemployment Benefits Period Expense
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233000 USD
CY2014 us-gaap Defined Contribution Plan Cost Recognized
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285000 USD
CY2014Q4 nspr Other Payables Related Parties Current
OtherPayablesRelatedPartiesCurrent
241000 USD
CY2013Q4 nspr Other Payables Related Parties Current
OtherPayablesRelatedPartiesCurrent
355000 USD
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
388000 USD
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
148000 USD
CY2014Q4 nspr Shares Authorized
SharesAuthorized
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CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2013Q1 us-gaap Stock Issued During Period Shares Other
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CY2013Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12500000 shares
CY2013Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
2.00
CY2013Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
22600000 USD
CY2014Q4 us-gaap Shares Issued Price Per Share
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1.30
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7400000 USD
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
6769189 shares
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y5M23D
CY2014 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y9M7D
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
3683402 shares
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
230817 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
177000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.47
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3900000 USD
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y4D
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1549000 USD
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3839000 USD
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10554000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-8529000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-3171000 USD
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-5984000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
390000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
164000 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1613000 USD
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1448000 USD
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2038000 USD
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-171000 USD
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
205000 USD
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-75000 USD
CY2014 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
USD
CY2013 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
USD
CY2012 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-71000 USD
CY2014 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-73000 USD
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-14000 USD
CY2013 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-61000 USD
CY2012 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1408000 USD
CY2014 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
USD
us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-121000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
USD
CY2012 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-245000 USD
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2014 dei Entity Well Known Seasoned Issuer
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No
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CY2014 dei Entity Voluntary Filers
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No
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1.98
CY2014 dei Entity Current Reporting Status
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Yes
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Accelerated Filer
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CY2014 dei Current Fiscal Year End Date
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CY2014 dei Document Period End Date
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NSPR
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CY2014 dei Entity Registrant Name
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InspireMD, Inc.
CY2014 dei Entity Central Index Key
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0001433607
CY2015Q1 dei Entity Common Stock Shares Outstanding
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CY2014 dei Document Fiscal Year Focus
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2014
CY2014 dei Document Fiscal Period Focus
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FY
CY2014 dei Document Type
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CY2013 nspr Income Tax Reconciliation Revenues
IncomeTaxReconciliationRevenues
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CY2014 us-gaap Use Of Estimates
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" width="100%" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; margin-top: 0px; margin-bottom: 0px;"> <tr style="vertical-align: top;"> <td style="width: 51.05pt;"></td> <td style="width: 19.85pt;"><font style="font-family: 'Times New Roman', Times, serif;"><b>a.</b></font></td> <td style="padding-right: 1.15pt;"><font style="font-family: 'Times New Roman', Times, serif;"><b>Use of estimates</b></font></td> </tr> </table> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 1.15pt 0px 70.9pt; text-indent: -19.85pt;"><font style="font-family: 'Times New Roman', Times, serif;"><b>&#160;</b></font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 70pt; text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates using assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting periods. Actual results could differ from those estimates.</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 70pt; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'Times New Roman', Times, serif;">&#160;</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 70pt; text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;">As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to inventory valuations, royalty buyout, legal contingencies and estimation of the fair value of warrants.</font></p> </div>
us-gaap Advertising Expense
AdvertisingExpense
800000 USD
CY2013 us-gaap Advertising Expense
AdvertisingExpense
1100000 USD
CY2012 us-gaap Advertising Expense
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600000 USD
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2014 us-gaap Concentration Risk Credit Risk
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; width: 1887px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; margin-top: 0px; margin-bottom: 0px;"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 51.05pt; text-align: right;"></td> <td style="width: 19.85pt;"><font style="font-family: 'Times New Roman', Times, serif;"><b>f.</b></font></td> <td style="text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;"><b>Concentration of credit risk and allowance for doubtful accounts</b></font></td> </tr> </table> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: left; text-indent: 0.5in;"><font style="font-family: 'Times New Roman', Times, serif;">&#160;</font></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0in; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 1.15pt 0px 70pt; text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;">Financial instruments that may potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, which are deposited in major financially sound institutions in the U.S, Israel, Germany and the United Kingdom, and trade accounts receivable. The Company's trade accounts receivable are derived from revenues earned from customers from various countries. The Company performs ongoing credit evaluations of its customers' financial condition and, generally, requires no collateral from its customers. The Company also has a credit insurance policy for some of its customers. The Company maintains an allowance for doubtful accounts receivable based upon the expected ability to collect the accounts receivable. The Company reviews its allowance for doubtful accounts quarterly by assessing individual accounts receivable and all other balances based on historical collection experience and an economic risk assessment. If the Company determines that a specific customer is<b> </b>unable to meet its financial obligations to the Company, the Company provides an allowance for credit losses to reduce the receivable to the amount management reasonably believes will be collected, which is netted against "Accounts receievable- Trade".</font></p> </div>
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USD
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CY2014 us-gaap Stock Issued1
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CY2013 us-gaap Stock Issued1
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USD
CY2014 us-gaap Derivatives Embedded Derivatives
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" width="100%" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; margin-top: 0px; margin-bottom: 0px;"> <tr style="vertical-align: top;"> <td style="width: 51.05pt;"></td> <td style="width: 19.85pt;"><b>u.</b></td> <td style="text-align: justify;"><b>Embedded derivatives</b></td> </tr> </table> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 70.9pt; text-align: justify; text-indent: -19.85pt;"><b>&#160;</b></p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 70pt; text-align: justify; text-indent: 0.9pt;">Embedded derivatives in debt contracts that are not clearly and closely related to the host debt are bifurcated and accounted for separately. Those embedded derivatives are measured at fair value each reporting date, with changes in fair value recorded in earnings. See Note 6.</p> </div>
CY2014 us-gaap Advertising Expense
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800000 USD
CY2014Q4 nspr Percentage Of Compensation Payable In Stock
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0.5 pure
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2015Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
34369675 shares
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12500000 USD
CY2014Q4 nspr Funding Threshold At Which Cost Savings Plan Is Discontinued
FundingThresholdAtWhichCostSavingsPlanIsDiscontinued
5000000 USD

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