| b. | Functional and presentation currency: |
| 1) | Functional and presentation currency |
Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The financial statements are presented in U.S. dollar ($), which is the Company’s functional and presentation currency.
| 2) | Transactions and balances |
Foreign currency transactions are translated into the functional currency using exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the income statement.
All foreign exchange gains and losses are presented in the statements of comprehensive loss within financial income or expenses.