Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited)

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Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($)
$ in Thousands
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balance (in shares) at Dec. 31, 2017 16,992,627      
Balance at Dec. 31, 2017 $ 396 $ 265,355 $ (246,677) $ 19,074
Impact of adoption of ASC 606 (note 2) at Dec. 31, 2017     320 320
RSU vested and stock options exercised (in shares) [1] 310,883      
RSU vested and stock options exercised $ 3 [1] 358   $ 358
Issuance of common shares from rights offering (note 6) (in shares) 5,777,768 [2]     5,777,768
Issuance of common shares from rights offering (note 6) $ 58 [2] 12,529 $ 12,587
Stock-based compensation   278   278
Net income 775 775
Balance (in shares) at Sep. 30, 2018 23,081,278      
Balance at Sep. 30, 2018 $ 457 $ 278,520 $ (245,582) $ 33,395
[1] 310,883 new common shares resulted from 211,135 exercised stock options and 99,748 vested RSUs during the period.
[2] The Company sold an aggregate of 5,777,768 shares of common stock at a purchase price of $2.25 per share, which closed to subscriptions on August 22, 2018 with a par value of $0.01 per common share. The Company raised proceeds of $13,000 and incurred incremental costs of $413 directly attributable to the rights offering which have been charged against the gross proceeds. Net proceeds of $12,529 have been recorded in additional paid-in capital in shareholders' equity in the consolidated balance sheets.