$ORMP
ORAMED PHARMACEUTICALS INC.

2013 Q4 Form 10-K Financial Statement

#000117891313003442 Filed on November 27, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013
Revenue $67.00K $0.00 $309.2K
YoY Change -17.11%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $420.0K $660.0K $2.030M
YoY Change 23.53% 65.0% 69.17%
% of Gross Profit
Research & Development $750.0K $290.0K $2.272M
YoY Change 91.02% -46.3% 35.16%
% of Gross Profit
Depreciation & Amortization $2.000K $10.00K $5.000K
YoY Change -11.93% -200.0% -66.67%
% of Gross Profit
Operating Expenses $750.0K $960.0K $2.272M
YoY Change 91.02% 2.13% 35.16%
Operating Profit -$1.168M -$4.304M
YoY Change 59.6% 49.24%
Interest Expense $40.00K -$40.00K $19.00K
YoY Change -117.39% -97.86% 46.15%
% of Operating Profit
Other Income/Expense, Net $10.00K
YoY Change 0.0%
Pretax Income -$1.124M -$1.000M -$4.437M
YoY Change 17.27% -66.1% 36.36%
Income Tax -$210.0K -$205.0K
% Of Pretax Income
Net Earnings -$1.124M -$790.0K -$4.232M
YoY Change 17.24% -74.01% 26.56%
Net Earnings / Revenue -1677.61% -1368.89%
Basic Earnings Per Share
Diluted Earnings Per Share -$141.1K -$104.4K -$586.7K
COMMON SHARES
Basic Shares Outstanding 7.948M shares 7.901M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.790M $8.480M $8.480M
YoY Change 18.03% 66.6% 66.6%
Cash & Equivalents $1.371M $2.272M $2.270M
Short-Term Investments $6.420M $6.200M $6.200M
Other Short-Term Assets $190.0K $30.21K $50.00K
YoY Change 375.0% -17.6% -16.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables $58.00K
Total Short-Term Assets $7.986M $8.644M $8.640M
YoY Change 17.31% 63.82% 63.64%
LONG-TERM ASSETS
Property, Plant & Equipment $8.792K $6.000K $10.00K
YoY Change 252.1% 25.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Assets $10.00K $10.00K $10.00K
YoY Change 0.0%
Total Long-Term Assets $19.22K $16.00K $20.00K
YoY Change 13.18% -12.93% 100.0%
TOTAL ASSETS
Total Short-Term Assets $7.986M $8.644M $8.640M
Total Long-Term Assets $19.22K $16.00K $20.00K
Total Assets $8.006M $8.660M $8.660M
YoY Change 17.3% 63.56% 63.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $620.0K $450.0K $390.0K
YoY Change 113.79% -25.0% -32.76%
Accrued Expenses $60.00K
YoY Change 200.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $668.5K $498.0K $500.0K
YoY Change 99.83% -22.72% -21.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $30.00K $30.00K $30.00K
YoY Change -87.5% -96.55% -96.55%
Total Long-Term Liabilities $31.89K $31.00K $30.00K
YoY Change -86.74% -96.45% -96.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $668.5K $498.0K $500.0K
Total Long-Term Liabilities $31.89K $31.00K $30.00K
Total Liabilities $700.4K $529.0K $530.0K
YoY Change 21.81% -65.12% -65.13%
SHAREHOLDERS EQUITY
Retained Earnings -$23.25M -$22.12M
YoY Change 23.33% 23.65%
Common Stock $30.22M $29.95M
YoY Change 21.53% 38.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.305M $8.131M $8.130M
YoY Change
Total Liabilities & Shareholders Equity $8.006M $8.660M $8.660M
YoY Change 17.3% 63.56% 63.71%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013
OPERATING ACTIVITIES
Net Income -$1.124M -$790.0K -$4.232M
YoY Change 17.24% -74.01% 26.56%
Depreciation, Depletion And Amortization $2.000K $10.00K $5.000K
YoY Change -11.93% -200.0% -66.67%
Cash From Operating Activities -$748.0K -$280.0K -$3.396M
YoY Change -5.65% -17.65% 47.59%
INVESTING ACTIVITIES
Capital Expenditures $5.000K -$10.00K $6.000K
YoY Change 200.0%
Acquisitions
YoY Change
Other Investing Activities -$2.920M -$5.000K
YoY Change -14700.0%
Cash From Investing Activities -$162.0K -$2.930M -$4.569M
YoY Change -135.66% -14750.0% -358.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $5.715M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.370M $5.824M
YoY Change 25.21% 66.92%
NET CHANGE
Cash From Operating Activities -$748.0K -280.0K -$3.396M
Cash From Investing Activities -$162.0K -2.930M -$4.569M
Cash From Financing Activities 4.370M $5.824M
Net Change In Cash -$910.0K 1.160M -$2.141M
YoY Change -181.26% -63.41% -172.4%
FREE CASH FLOW
Cash From Operating Activities -$748.0K -$280.0K -$3.396M
Capital Expenditures $5.000K -$10.00K $6.000K
Free Cash Flow -$753.0K -$270.0K -$3.402M
YoY Change -5.02% -20.59% 47.72%

Facts In Submission

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CY2013 dei Current Fiscal Year End Date
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CY2013 dei Document Fiscal Period Focus
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CY2013 dei Document Fiscal Year Focus
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CY2013 dei Document Period End Date
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CY2013 dei Document Type
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CY2013 dei Entity Central Index Key
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CY2013Q4 dei Entity Common Stock Shares Outstanding
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CY2013 dei Entity Current Reporting Status
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CY2013 dei Entity Filer Category
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CY2013 dei Entity Registrant Name
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ORAMED PHARMACEUTICALS INC.
CY2013 dei Entity Voluntary Filers
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CY2013 ormp Fair Value Measurement Policy Policy Text Block Extended
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 36pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> n.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; text-align: left"> Fair value measurement:</div> </td> </tr> </table> </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows:</div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 76pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td style="WIDTH: 63pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> Level 1:</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.</div> </td> </tr> </table> </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 76pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td style="WIDTH: 63pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> Level 2:</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.</div> </td> </tr> </table> </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 76pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td style="WIDTH: 63pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> Level 3:</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.</div> </td> </tr> </table> </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> As of August 31, 2013 the assets or liabilities measured at fair value comprise of available for sale securities (level 1).</div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent.</div> <div style="DISPLAY: block; MARGIN-LEFT: 446pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> In order to secure the fulfillment of the Company&#39;s obligations under the derivatives agreements, the Company has placed a restricted deposit with the bank in an amount of $16,000.</div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> Available-for-sale securities are reported at fair value, with unrealized gains and losses, net of related tax recorded as a separate component of other comprehensive income in equity until realized. Unrealized losses that are considered to be other-than-temporary are charged to statement of operations as an impairment charge and are included in the consolidated statement of operations under impairment of available-for-sale securities.</div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost, and the Company&#39;s ability and intent to hold the investment. Realized gains and losses on sales of the securities are included in the consolidated statement of operations as financial income or expenses.</div> <!--EndFragment--></div> </div>
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CY2013 ormp New Accounting Pronouncements Policy Policy Text Block Extended
NewAccountingPronouncementsPolicyPolicyTextBlockExtended
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 36pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> p.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; text-align: left"> Newly issued&nbsp;&nbsp;and recently adopted accounting pronouncements:</div> </td> </tr> </table> </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /> </div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 78pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td style="WIDTH: 18pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> 1.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> In June 2011, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update (ASU) 2011-05, an update to ASC No.&nbsp;220, "Presentation of Comprehensive Income," which eliminates the option to present other comprehensive income and its components in the statement of shareholders&#39; equity. The Company can elect to present the items of net income and other comprehensive income in a single continuous statement of comprehensive income or in two separate, but consecutive, statements. Under either method the statement would need to be presented with equal prominence as the other primary financial statements. The amended guidance, which must be applied retroactively, is effective for fiscal years, and interim periods within those years, beginning after December&nbsp;15, 2011, with earlier adoption permitted. In December 2011, the FASB issued another update on the topic, which deferred the effective date pertaining only to the presentation of reclassification adjustments on the face of the financial statements. The Company adopted the pronouncement in the first quarter of fiscal year 2013.</div> </td> </tr> </table> </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 78pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td style="WIDTH: 18pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> 2.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("ASU 2013-02"). This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, ASU 2013-02 requires presentation, either on the face of the income statement or in the notes, of significant amounts reclassified out of accumulated other comprehensive income by respective line items of net income, but only if the amounts reclassified are required to be reclassified in their entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about these amounts. The amendments in ASU 2013-02 will be effective prospectively for annual reporting periods beginning after December 15, 2012, and interim periods within those annual periods. The accounting update will be applicable to the Company beginning in the first quarter of fiscal year 2014. The Company does not expect the adoption of ASU 2013-02 to have a material effect on the consolidated financial statement presentation.</div> </td> </tr> </table> </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /> </div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 78pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td style="WIDTH: 18pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> 3.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). This update requires an entity to present&nbsp;&nbsp;in the financial statements&nbsp;&nbsp;an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The amendments in ASU 2013-11 will be effective prospectively for annual reporting periods beginning after December 15, 2013, and interim periods within those annual periods. The accounting update will be applicable to the Company beginning in the first quarter of fiscal year 2015.&nbsp;&nbsp;The Company does not expect the adoption of ASU 2013-11 to have a material effect on the consolidated financial statement presentation.</div> </td> </tr> </table> </div> <!--EndFragment--></div> </div>
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CY2013 ormp Basis Of Accounting Policy Policy Text Block Extended
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 27pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> b.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; text-align: justify"> Accounting principles</div> </td> </tr> </table> </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: justify; TEXT-INDENT: 0pt"> &nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 72pt"> <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> &nbsp;</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; text-align: left"> The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP").</div> </td> </tr> </table> </div> <!--EndFragment--></div> </div>
ormp Change In Fair Value Of Derivative Liability
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98005 USD
CY2013 ormp Change In Fair Value Of Derivative Liability
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-44699 USD
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142704 USD
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CY2013Q3 ormp Common Stock Shares Issued Prior To Reverse Stock Split
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CY2013Q3 ormp Common Stock Shares Outstanding Prior To Reverse Stock Split
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ormp Consulting Fees
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1230570 USD
CY2013 ormp Consulting Fees
ConsultingFees
259670 USD
CY2012 ormp Consulting Fees
ConsultingFees
159136 USD
CY2013Q3 ormp Defined Contribution Plan Expected Liability
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22835 USD
ormp Discount On Convertible Note Related To Beneficial Conversion Feature
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108000 USD
CY2013 ormp Discount On Convertible Note Related To Beneficial Conversion Feature
DiscountOnConvertibleNoteRelatedToBeneficialConversionFeature
USD
CY2012 ormp Discount On Convertible Note Related To Beneficial Conversion Feature
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ormp Exchange Of Warrants
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296982 USD
CY2013 ormp Exchange Of Warrants
ExchangeOfWarrants
296982 USD
CY2012 ormp Exchange Of Warrants
ExchangeOfWarrants
USD
CY2012 ormp Proceeds From Receipts On Account Of Shares Issuances
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ormp Research And Development Expense Clinical Trials
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6504824 USD
CY2013 ormp Research And Development Expense Clinical Trials
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1341471 USD
CY2012 ormp Research And Development Expense Clinical Trials
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1298310 USD
ormp Research And Development Expense Payroll And Consulting Fees
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2368728 USD
CY2013 ormp Research And Development Expense Payroll And Consulting Fees
ResearchAndDevelopmentExpensePayrollAndConsultingFees
447195 USD
CY2012 ormp Research And Development Expense Payroll And Consulting Fees
ResearchAndDevelopmentExpensePayrollAndConsultingFees
385646 USD
ormp Research And Development Expenses Other
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886242 USD
CY2013 ormp Research And Development Expenses Other
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338635 USD
CY2012 ormp Research And Development Expenses Other
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160350 USD
ormp Research And Development Expenses Share Based Compensation
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3268842 USD
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346961 USD
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98688 USD
CY2013Q3 ormp Reverse Stock Split Conversion Ratio
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12 pure
CY2013Q3 ormp Severance Pay Insurance Deposit Expected Amount
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25480 USD
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2090 USD
CY2012 ormp Severance Pay Insurance Deposits
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3620 USD
ormp Shares And Warrants For Marketable Securities
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628630 USD
CY2013 ormp Shares And Warrants For Marketable Securities
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628630 USD
CY2012 ormp Shares And Warrants For Marketable Securities
SharesAndWarrantsForMarketableSecurities
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ormp Shares And Warrants To Be Issued For Cash
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CY2013 ormp Shares And Warrants To Be Issued For Cash
SharesAndWarrantsToBeIssuedForCash
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CY2012 ormp Shares And Warrants To Be Issued For Cash
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25093 USD
CY2013Q3 ormp Stock Issued During Period Shares Services
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12042 shares
CY2013 ormp Stock Issued During Period Value Marketable Securities
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628630 USD
CY2012 ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
107860 USD
ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
98750 USD
CY2008 ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
116110 USD
CY2009 ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
152928 USD
CY2010 ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
249850 USD
CY2011 ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
227569 USD
CY2013Q3 ormp Stock Issued During Period Value Services
StockIssuedDuringPeriodValueServices
86221 USD
CY2013 ormp Stock Issued During Period Value Services To Be Rendered
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244457 USD
CY2009 ormp Stock Issued During Period Value Services To Be Rendered
StockIssuedDuringPeriodValueServicesToBeRendered
203699 USD
CY2012 ormp Stock Issued During Period Value Shares To Be Issued
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25093 USD
ormp Warrants Exchanged
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917809 USD
CY2013 ormp Warrants Exchanged
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917809 USD
CY2012 ormp Warrants Exchanged
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CY2013Q3 us-gaap Accounts Payable And Accrued Liabilities Current
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450941 USD
CY2012Q3 us-gaap Accounts Payable And Accrued Liabilities Current
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597173 USD
CY2013Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
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392289 USD
CY2012Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
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580714 USD
CY2013Q3 us-gaap Accounts Payable Other Current
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47252 USD
CY2012Q3 us-gaap Accounts Payable Other Current
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47252 USD
CY2013Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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124503 USD
CY2012Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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120844 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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303403 USD
CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2013Q3 us-gaap Additional Paid In Capital Common Stock
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CY2012Q3 us-gaap Additional Paid In Capital Common Stock
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us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
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108000 USD
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18991 USD
CY2013 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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562966 USD
CY2012 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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200866 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1968547 USD
CY2008 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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459467 USD
CY2009 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
436025 USD
CY2010 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
690882 USD
CY2011 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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502593 USD
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917809 USD
us-gaap Allocated Share Based Compensation Expense
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2421664 USD
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372258 USD
CY2012 us-gaap Allocated Share Based Compensation Expense
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172470 USD
us-gaap Amortization Of Debt Discount Premium
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108000 USD
CY2013 us-gaap Amortization Of Debt Discount Premium
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CY2012 us-gaap Amortization Of Debt Discount Premium
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CY2012Q3 us-gaap Assets
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284899 USD
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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2272228 USD
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-2158512 USD
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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2917375 USD
CY2013Q3 us-gaap Deferred Tax Assets Net
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CY2013Q3 us-gaap Commitments And Contingencies
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CY2012Q3 us-gaap Commitments And Contingencies
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CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.012
CY2012Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.012
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CY2012Q3 us-gaap Common Stock Shares Authorized
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CY2012Q3 us-gaap Common Stock Shares Outstanding
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CY2012Q3 us-gaap Common Stock Value
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Contribution Of Property
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18991 USD
CY2013 us-gaap Contribution Of Property
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CY2012 us-gaap Contribution Of Property
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CY2013Q3 us-gaap Deferred Tax Assets In Process Research And Development
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338908 USD
CY2012Q3 us-gaap Deferred Tax Assets In Process Research And Development
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18008 USD
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CY2013Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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3992737 USD
CY2012Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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3190152 USD
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4331645 USD
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3208160 USD
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12592 USD
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7089 USD
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5246627 USD
CY2012Q3 us-gaap Deposits Assets Current
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454381 USD
us-gaap Depreciation
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126223 USD
CY2013 us-gaap Depreciation
Depreciation
5379 USD
CY2012 us-gaap Depreciation
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14737 USD
CY2013 us-gaap Derivative Gain On Derivative
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44699 USD
CY2012 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
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CY2013 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
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CY2012 us-gaap Derivative Loss On Derivative
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142704 USD
CY2013Q3 us-gaap Due From Other Related Parties Current
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4530 USD
CY2012Q3 us-gaap Due From Other Related Parties Current
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404 USD
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-0.59
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CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35 pure
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-28211 USD
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CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2013Q3 us-gaap Employee Related Liabilities Current
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16459 USD
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CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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52343 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
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328950 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
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USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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628630 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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905237 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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384565 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
USD
CY2011Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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384565 USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
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28344 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
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494478 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
637182 USD
CY2011Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
USD
us-gaap Federal Income Tax Expense Benefit Continuing Operations
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67392 USD
CY2013 us-gaap Federal Income Tax Expense Benefit Continuing Operations
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CY2012 us-gaap Federal Income Tax Expense Benefit Continuing Operations
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-7569 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-50216 USD
CY2013 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-19179 USD
CY2012 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-62494 USD
CY2013 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
2804 USD
CY2012 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
35067 USD
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
108440 USD
CY2013 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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-192102 USD
CY2012 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
97787 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
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1033004 USD
CY2013 us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
USD
CY2012 us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
USD
us-gaap Gain Loss On Sale Of Investments
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1083707 USD
CY2013 us-gaap Gain Loss On Sale Of Investments
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50703 USD
CY2012 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
USD
CY2013 us-gaap Gain Loss On Sale Of Securities Net
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90370 USD
CY2012 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10193676 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2032129 USD
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1203164 USD
us-gaap General Insurance Expense
GeneralInsuranceExpense
162320 USD
CY2013 us-gaap General Insurance Expense
GeneralInsuranceExpense
43399 USD
CY2012 us-gaap General Insurance Expense
GeneralInsuranceExpense
22375 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-9626374 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-1185831 USD
us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
983399 USD
CY2013 us-gaap Income Tax Examination Penalties Expense
IncomeTaxExaminationPenaltiesExpense
0 USD
CY2012 us-gaap Income Tax Examination Penalties Expense
IncomeTaxExaminationPenaltiesExpense
15539 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
35714 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-205062 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90218 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-22087875 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4436874 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-3254260 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-12461502 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-3251044 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2655193 USD
CY2013Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
59898 USD
CY2012Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
53341 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3573334 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
902509 USD
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
516749 USD
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1588322 USD
CY2013 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
276338 USD
CY2012 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
502086 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-7700757 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1522906 USD
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1138991 USD
us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2617605 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
374059 USD
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
120156 USD
us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
23210 USD
CY2013 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
-205062 USD
CY2012 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
90218 USD
CY2013 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
230191 USD
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
16000 USD
CY2013 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
USD
CY2012Q3 us-gaap Investments And Other Noncurrent Assets
InvestmentsAndOtherNoncurrentAssets
8867 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1400413 USD
CY2013 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
244457 USD
CY2012 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
107860 USD
CY2013Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8660182 USD
us-gaap Increase Decrease In Restricted Cash
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2615 USD
CY2013 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-4894 USD
us-gaap Increase Decrease In Accounts Payable
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450941 USD
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-146232 USD
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="WIDTH: 27pt"> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> c.</div> </td> <td> <div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; text-align: justify"> Use of estimates in the preparation of financial statements</div> </td> </tr> </table> </div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 90pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> &nbsp;</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements date and the reported expenses during the reporting periods. Actual results could differ from those estimates.</div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /> </div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 72pt; MARGIN-RIGHT: -0.05pt; text-align: left; TEXT-INDENT: 0pt"> As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to stock based compensation, valuation and impairment of marketable securities and valuation of tax exposures.</div> <!--EndFragment--></div> </div>
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