F - 56
NOTES TO THE FINANCIAL STATEMENTS
NOTE 17 – EVENT SUBSEQUENT TO THE BALANCE SHEET DATE
In February 2012, the Company completed a private placement of an aggregate of 5,244,301 ADSs, at a purchase price of $2.86 per ADS, and warrants to purchase up to 2,622,157 additional ADSs, at an exercise price of $3.57 per ADS. The offering raised a total of $15,000,000, with net proceeds of approximately $14,100,000, after deducting fees and expenses.