UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of ~~August~~November, 2013

Commission File Number 000-31513

VIRYANET LTD.

(Translation of registrant’s name into English)

8 HaMarpe St.

Har Hotzvim

P.O. Box 45041

Jerusalem 91450 Israel

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

THE CONTENTS OF THIS REPORT OF FOREIGN PRIVATE ISSUER ON FORM 6-K OF VIRYANET LTD. (THE “REGISTRANT”), INCLUDING EXHIBIT 99.1 HERETO (BUT EXCLUDING ANY QUOTES OF MEMBERS OF THE REGISTRANT’S MANAGEMENT APPEARING THEREIN), ARE HEREBY INCORPORATED BY REFERENCE IN THE REGISTRANT’S REGISTRATION STATEMENTS ON FORM S-8 (SEC FILE NO. 333-146265) AND FORMS F-3 (SEC FILE NOS. 333-114504 AND 333-130632).

CONTENTS

Attached as Exhibit 99.1 hereto is a copy of the registrant’s press release dated ~~August~~November 157, 2013, entitled “VIRYANET REPORTS ~~SECOND~~THIRD QUARTER 2013 RESULTS”.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


VIRYANET LTD.

By:		/S/ MEMY ISH-SHALOM
Name:		Memy Ish-Shalom
Title:		President and Chief Executive Officer

Date: ~~August~~November 157, 2013

Exhibit Index

Exhibit No.		Description
99.1		Press release issued by the registrant on ~~August~~November 157, 2013, entitled “VIRYANET REPORTS ~~SECOND~~THIRD QUARTER 2013 RESULTS”.

Exhibit 99.1

ViryaNet Reports ~~Second~~Third Quarter 2013 Results

~~WESTBOROUGH,~~Records ~~MA August 15, 2013 -~~34% ~~ViryaNet~~Year-over-Year ~~Limited~~Increase ~~(OTC~~in ~~QB:VRYAF),~~Quarterly aRevenue ~~leading provider of software solutions that optimize~~ and ~~allow~~Basic ~~for~~Earnings ~~the~~Per ~~continuous~~Share ~~improvement~~(EPS) of ~~service processes for mobile workforces, today announced its financial results for the second quarter and six months ended June 30, 2013~~$0.07

~~Second~~WESTBOROUGH, ~~Quarter~~MA November 7, 2013 ~~Highlights~~- ViryaNet Limited (OTC QB:VRYAF), a leading provider of software solutions that optimize and allow for the continuous improvement of service processes for mobile workforces, today announced its financial results for the third quarter and nine months ended September 30, 2013.

•Third ~~Revenues~~Quarter ~~of $2.5 million for second quarter~~ 2013 ~~comparable~~Financial toHighlights: ~~$2.5 million in same quarter last year~~

• ~~Gross~~Revenues ~~margin~~ increased 34% to 61$2.7%8 inmillion ~~second~~for the third quarter of 2013 compared to 59$2.7%1 million in same quarter last year

• ~~Second~~Third quarter 2013 net income ~~was~~rose to $~~101~~306,000, representing basic earnings per share (EPS) of $0.07, compared to a loss of $~~207~~83,000, or $0.02 per share, in the same period last year

• ~~ViryaNet’s~~Gross ~~innovative~~margin ~~mobile~~increased ~~capabilities~~to ~~and~~66.8% ~~integrated Performance Management offering generated excitement among customers and partners at ViryaNet’s Annual Customer Conference, held~~ in ~~May~~the inthird ~~Florida;~~quarter ~~“ViryaVision~~of 2013” ~~empowers~~compared ~~customers~~to ~~for the mobile revolution~~53.6% ~~This~~in ~~excitement~~same isquarter ~~well~~last ~~reflected in follow-up orders.~~year

~~“We~~• ~~are~~Shareholders’ ~~pleased~~Equity ~~with~~is ~~the~~$2.1 ~~way~~million ~~our~~as ~~business~~of ~~continues~~September ~~to grow~~30, ~~although our second quarter results were impacted by several deals not closing in the period~~2013,” ~~stated~~representing ~~Memy~~a ~~Ish-Shalom,~~59% ~~President~~increase ~~and~~over ~~Chief Executive Officer of ViryaNet~~$1.3 ~~“While~~million ~~quarterly~~as ~~comparisons for our first half do not reflect the growth in our backlog or the increase in the size~~ of ~~opportunities~~December ~~in the pipeline~~31, ~~both direct and through partners, and with both existing and new customers, we are confident that 2013 is tracking to plan and will be a year of solid growth for us.”~~ 2012

~~Mr. Ish-Shalom continued,~~ “The ~~demand~~pickup ~~for~~in ~~mobile~~quoting ~~workforce~~activity ~~solutions~~throughout is2013 ~~strong,~~thus asfar ~~enterprises,~~has ~~large~~resulted ~~and~~in ~~small,~~stronger ~~seek~~bookings toin ~~reduce~~the ~~their costs through greater efficiency~~quarter, and ~~build~~we ~~their~~are ~~reputation for~~on ~~providing~~pace ~~outstanding~~to ~~customer~~reach ~~service.~~our growth ~~Our~~objectives ~~approach is ideally designed~~ for ~~customers~~the ~~seeking~~year,” tostated ~~meet~~Memy ~~their~~Ish-Shalom, ~~current~~President and ~~future~~Chief ~~goals~~Executive byOfficer ~~embracing~~of ~~the~~ViryaNet. ~~opportunities~~“We ~~presented~~have byreceived ~~the~~multiple ~~mobile~~orders ~~revolution.~~from ~~Our~~new ~~current~~customers ~~backlog~~in asboth of the ~~end~~United ofStates ~~the second~~and ~~quarter~~Europe ~~reflects~~during athe ~~healthy~~third ~~flow~~quarter of ~~follow-on~~2013 ~~orders from~~ through our ~~clients~~direct ~~for~~sales ~~additional~~and ~~services~~our ~~and~~channel ~~maintenance~~partners. ~~that~~Additionally, we ~~will~~sold ~~recognize~~ViryaNet ~~over~~Performance ~~the~~Management ~~balance~~to ofour ~~the~~existing ~~year~~customer base. ~~Certain~~The ~~deals~~increase ~~that~~in welicensing ~~expected~~revenues towas ~~close in~~ the ~~second~~key ~~quarter~~driver ~~shifted~~of toour ~~the third~~increased ~~quarter~~gross profit, ~~some~~expanded ofgross ~~which~~margins ~~have~~and significantly ~~already~~higher ~~closed,~~operating and wenet ~~expect~~income tofrom ~~sign~~the ~~additional~~period ~~business~~one ~~incremental~~year toago ~~this~~and insequentially ~~the~~from ~~third~~our second quarter. ~~Based~~Our ondisciplined ~~our~~approach ~~current~~to ~~visibility,~~scoping ~~pipeline,~~deals and unique positioning inwith ~~the~~our ~~market~~distribution ~~place,~~and weimplementation ~~remain~~partners ~~excited~~supports ~~about the~~our ~~consistent~~commitment ~~growth~~to ~~opportunities~~profitably wegrowing ~~see for ViryaNet for~~ the ~~remainder of 2013 and beyond~~company.”

~~Second~~Mr. Ish-Shalom ~~Quarter~~continued, ~~2013~~“The ~~Financial~~demand ~~Results~~for our solutions remains strong in the marketplace and we continue to pursue opportunities to proliferate throughout the market. We have increased visibility as to our opportunity set, or pipeline, as several existing customers are requesting additional licenses to accommodate business acquisitions they have made, and customers are expanding their rollouts and requesting more licenses. RFP (request for proposal) activity is up and we are receiving requests from prospects for more product demonstrations. Our comprehensive platform capabilities allow service organizations to improve productivity and reduce operational costs in mobile workforce operations, which aligns with global customer demands that require a proven solution to support increased levels of complexity and scalability. We remain confident that 2013 is tracking to plan and will be a year of solid growth for us.”

~~For~~Third ~~the~~Quarter ~~quarter ended June 30,~~ 2013~~, ViryaNet reported total revenues of $2.5 million comparable to $2.5 million for the same period~~ inFinancial ~~2012.~~Results

~~Gross~~For ~~profit~~the ~~was~~quarter ~~$1.5~~ended ~~million~~September 30, or2013, ~~61.7%~~ViryaNet ~~gross~~reported ~~margin,~~total ~~compared~~revenues toof $12.58 million ~~gross profit~~, ora 5934.74% ~~gross~~increase ~~margin,~~from ~~in the second quarter of 2012. Total operating expenses in the second quarter of 2013 were approximately~~ $12.~~6 million, compared to $~~1.3 million infor the ~~corresponding~~same period ofin 2012. ~~Research~~License ~~and~~revenues ~~development~~for ~~expenses~~the ~~increased~~three ~~67.7%~~months increased to $~~431~~332,000 ~~from~~compared to $~~257~~30,000, ~~which~~in ~~were targeted at accelerating~~ the ~~development~~same period of ~~new offerings requested by current and prospective customers~~2012. ~~Selling~~Maintenance and ~~marketing~~services ~~expenses~~revenues ~~were relatively unchanged and general and administrative expenses~~ increased ~~approximately~~ ~~16%~~ to $~~427,000 from $368,000~~2.5 ~~The~~million ~~operating loss for the second quarter of 2013 was $(38,000)~~ compared to ~~operating income of~~ $~~175,000~~2.1 million in the same ~~corresponding~~period ~~quarter~~ of 2012.

~~Net~~Gross ~~income~~profit ~~for~~was ~~the~~$1.9 ~~second~~million, ~~quarter~~or of66.8% ~~2013~~gross ~~was $101~~margin,~~000,~~ orcompared to $01.021 ~~basic~~million ~~and~~gross ~~diluted~~profit, ~~earnings~~or 53.6% ~~per~~gross ~~share~~margin, ~~which~~in ~~included~~the athird ~~gain~~quarter onof ~~forgiveness~~2012. ofTotal ~~debt~~operating expenses in the third quarter of 2013 were approximately $~~210~~1.5 million,~~000,~~ as compared to ~~net~~$1.2 million in the corresponding period of 2012. . Operating income for the third quarter of 2013 was $~~207~~383,000, ~~or $0.05~~compared ~~basic~~to ~~and~~an ~~diluted~~operating ~~earnings~~loss ~~per~~of ~~share~~$43,000 ~~for~~in the ~~same~~corresponding ~~period~~quarter inof 2012.

~~“The~~Net ~~positive~~income ~~feedback~~for wethe ~~received~~third ~~from~~quarter ~~our~~of ~~ViryaVision~~ 2013 ~~annual~~ ~~customer conference~~was $306,000, ~~which~~or ~~was~~$0.07 ~~held~~basic inand ~~May~~diluted inearnings ~~Florida~~per share, ~~about~~as ~~our~~compared ~~new~~to ~~ViryaNet~~a G4net ~~Field~~loss ~~Application~~of ~~as well as the Capacity Planning~~$83, ~~Dispatch~~000, ~~and~~or ~~Performance~~$0.02 ~~Management~~basic ~~applications~~and ~~demonstrates~~diluted ~~that~~loss ~~our~~per ~~commitment to R&D is right on track~~share, ~~meeting and exceeding customer demand~~ for ~~solutions in~~ the ~~marketplace~~same ~~and~~period ~~delivering the value-added services our customers have come to expect from us,” Mr. Ish-Shalom concluded. “We are~~ in ~~a better competitive position as our integrated software solutions are unique in the market~~2012.”

~~Six~~Third ~~Months-~~Quarter ~~Year-to-Date~~Operating ~~2013~~Highlights: ~~Financial Results~~

~~For~~• ~~the six months ended June 30, 2013,~~ ViryaNet ~~reported~~received ~~total~~multiple ~~revenues~~orders offrom ~~$5.4~~existing ~~million~~and ~~compared~~new tocustomers, ~~$5.7~~including ~~million~~both ~~for~~licenses ~~the same period in 2012. License revenues for the first six months of 2013 decreased by $0.2 million to $0.4 million compared to $0.6 million in the same period of 2012. Maintenance~~ and services ~~revenues~~for ~~decreased~~ViryaNet’s ~~$0.1~~flagship ~~million~~product toline, ~~$5.0~~ViryaNet ~~million~~G4, ~~compared~~as towell ~~$5.1~~as ~~million~~for in the ~~first~~ ~~six~~Performance ~~months~~Management ofpractice ~~2012~~offering.

~~Gross~~• ~~profit~~ViryaNet ~~was~~announced ~~$3.3~~that ~~million~~EmiTel, orthe ~~61.5%~~leading ~~gross~~broadcasting ~~margin,~~infrastructure ~~compared~~operator toin ~~$3.6~~Poland ~~million~~providing ~~gross~~radio ~~profit,~~and orTV ~~62.4%~~services, ~~gross~~has ~~margin, in~~changed the ~~first~~way ~~half~~its ofwork ~~2012.~~is ~~Total~~organized ~~operating~~with ~~expenses~~implementation ~~year-to-date~~of inViryaNet’s ~~2013~~mobile ~~were~~workforce ~~approximately~~management ~~$3.0~~solution ~~million~~(re-branded ~~compared~~as toFFA ~~$2.9~~by ~~million~~GE); insince the ~~corresponding~~full-scale ~~period~~launch of ~~2012.~~FFA ~~Research~~in ~~and~~August ~~development~~2012, ~~expenses~~EmiTel ~~increased~~has ~~42.2%~~reduced toits ~~$782,000~~number ~~from~~of ~~$550,000,~~field ~~which was~~technicians ~~partially offset~~ by amore ~~7.8~~than 40% ~~decline in selling~~ and ~~marketing expenses to $1.4 million from $1.5 million. Operating income for~~ the ~~first~~number ~~six months~~ of ~~2013~~dispatchers ~~decreased~~ by ~~approximately $399,000 to $302,000 from $701,000 in the year-ago period, reflecting the decreased revenues and the increased investment in R&D~~45%.

~~Year-to-date~~• ~~net~~ViryaNet ~~income~~announced that smartOPTIMO, a leading service provider in ~~2013~~the ~~was~~field ~~$344~~of metrology in Germany,~~000,~~ orselected ~~$0.09~~ViryaNet’s ~~basic~~mobile ~~and $0.08~~workforce ~~diluted~~management ~~earnings~~solution ~~per~~(re-branded ~~share,~~as ~~compared~~FFA toby ~~net~~GE) ~~income~~because of ~~$623,000,~~its orflexibility ~~$0.16~~to ~~basic~~model and ~~$0.15~~support ~~diluted~~any ~~earnings~~business ~~per~~process; ~~share~~ESN, a GE implementation partner, will be responsible for the ~~same~~implementation, ~~period~~which inincludes ~~2012.~~integrating GIS and CRM systems with the ViryaNet mobile workforce management solution

Nine Month (Year-to-Date) 2013 Financial Results

For the nine months ended September 30, 2013, ViryaNet reported total revenues of $8.2 million, a 5.8% increase compared to $7.8 million for the same period in 2012. License revenues for the first nine months of 2013 increased by 15.7% to $751,000 compared to $649,000 in the same period of 2012. Maintenance and services revenues increased by 4.9% to $7.5 million compared to $7.1 million in the first nine months of 2012.

Gross profit was $5.2 million, or 63.3% gross margin, compared to $4.7 million gross profit, or 60.0% gross margin, in the first nine months of 2012. Total operating expenses year-to-date in 2013 were approximately $4.5 million compared to $4.0 million in the corresponding period of 2012. Operating income for the first nine months of 2013 was $686,000, compared to operating income of $659,000 in the corresponding quarter of 2012.

Year-to-date net income in 2013 was $651,000, which includes a gain on forgiveness of debt of $210,000, or $0.16 basic and $0.15 diluted earnings per share, compared to net income of $541,000, or $0.14 basic and $0.13 diluted earnings per share, for the same period in 2012.

Balance Sheet Summary

Cash and cash equivalents were approximately $268,000 as of September 30, 2013 compared to $335,000 as of December 31, 2012. ViryaNet’s short and long-term bank debt balance on ~~June~~ September 30, 2013 was reduced by $~~0.2 million~~323,000 to $~~1.1~~980,000 ~~million~~ as compared to $1.3 million onas of December 31, 2012. ~~Convertible~~A ~~debt~~convertible ofnote ~~$0.4~~balance ~~million as~~ of ~~December 31~~$352,000 ~~2012,~~ was fully retired as of ~~June~~ September 30, 2013. ~~Cash~~Total ~~and~~shareholders’ ~~cash equivalents~~equity ~~were~~was ~~approximately~~ $02.31 million atas ~~both~~of ~~June~~September 30, of 2013, ~~and~~a 58.8% increase, compared to $1.3 million as of December 31, 2012.

Mr. Ish-Shalom concluded, “Our total bookings in the third quarter of 2013 are 155% higher when compared with the same period in 2012 and up 59% sequentially from the second quarter. The increase in the size of opportunities in the pipeline, both direct and through partners, and with both existing and new customers, gives us the confidence that the third quarter momentum will continue for the remainder of 2013 and into 2014.”

About ViryaNet

ViryaNet delivers mobile workforce management solutions that intelligently guide, automate, and optimize both simple and complex field service work, resulting in measurable business benefits. ViryaNet’s products, pre-packaged solutions and people are recognized within the industry as innovative which in turn enables its’ customers to be viewed as leaders within their respective industries. ViryaNet’s G4 products specialize in the functions of scheduling and dispatching resources and enabling mobile field communication and are delivered in industry specific configurations. Embedding industry best practices and utilizing innovative technologies like ViryaNet’s BPM Blueprint for Mobile Workforce Management™, Microsoft InfoPath® and device agnostic mobile solutions enable ViryaNet’s products to be rapidly deployed and extended to support virtually any business process across a wide range of industries. ViryaNet is proud to call many of the world’s leading utilities, the United States’ largest pure rural telecommunications firm, the supermarkets’ most respected retailer, and North America’s largest auto insurer as customers. ViryaNet has strong partnerships with leading platform and system integration companies that enable it to have a global presence. Headquartered in Westborough, MA, ViryaNet has additional offices in the United States and Israel. For more information visit our website or follow us on twitter.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding ViryaNet’s expectations, beliefs, intentions, or strategies regarding the capabilities of its products, its relationships with its customers, its customer purchases, its future operational plans and objectives including integration of other businesses, its future business prospects, its future financial performance, its future cash position, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet as of the date hereof, and ViryaNet assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet’s business include market acceptance of and demand for ViryaNet’s products, risks associated with a slow-down in the economy, risks associated with the financial condition of ViryaNet’s customers, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet’s annual report on Form 20-F, filed on April 29, 2013, and the other reports filed by ViryaNet from time to time, with the Securities and Exchange Commission. Reported results should not be considered an indication of future performance. You should not place undue reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

###
Press Contact:		Investor Contact:
Dolores Fallon		Peter Seltzberg
ViryaNet, Ltd		Hayden IR
508-490-8600, ext 5917		646-415-8972
Dolores.Fallon@viryanet.com		peter@haydenir.com

###


		Press Contact:		Investor Contact:
		Dolores Fallon		Peter Seltzberg
		ViryaNet, Ltd		Hayden IR
		508-490-8600, ext 5917		646-415-8972
		Dolores.Fallon@viryanet.com		peter@haydenir.com

VIRYANET LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands

	June 30, 2013			December 31, 2012
	September 30, 2013			December 31, 2012
	Unaudited			Audited
Assets
CURRENT ASSETS:
Cash and cash equivalents	$	~~344~~268		$	335
Restricted cash		~~210~~181			164
Trade receivables		~~505~~804			682
Other accounts receivable and prepaid expenses		~~214~~225			216
Total current assets		1,~~273~~478			1,397
NON - CURRENT ASSETS:
Severance pay fund		1,~~124~~159			1,044
Long-term receivable		9480			125
Other		4038			38
Total non - current assets		1,~~258~~277			1,207
PROPERTY AND EQUIPMENT, net		6051			70
GOODWILL		6,516			6,516
Total assets	$	9,~~107~~322		$	9,190
Liabilities and shareholders’ equity
CURRENT LIABILITIES:
Short-term bank credit	$	~~145~~167		$	160
Current maturities of long-term bank loans		~~435~~317			646
Trade payables		~~279~~294			360
Deferred revenues		3,~~075~~016			2,809
Other accounts payable and accrued expenses		1,~~254~~272			1,388
Convertible debt		—			352
Total current liabilities		5,~~188~~066			5,715
LONG-TERM LIABILITIES:
Long-term bank loan, net of current maturities		~~534~~496			497
Long-term deferred revenues		~~123~~115			232
Long-term deferred rent payable		6159			70
Accrued severance pay		1,~~462~~518			1,374
Total long-term liabilities		2,~~180~~188			2,173
SHAREHOLDERS’ EQUITY:
Share capital		5,~~055~~076			4,817
Additional paid-in capital		116,~~152~~153			116,297
Accumulated deficit		(119,~~468~~161	)		(119,812	)
Total shareholders’ equity		12,~~739~~068			1,302
Total liabilities and shareholders’ equity	$	9,~~107~~322		$	9,190

VIRYANET AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited. U.S. dollars in thousands, except share and per share data)

	Three months ended June 30						Six months ended June 30
	Three months ended September 30						Nine months ended September 30
	2013			2012			2013			2012
Revenues:
Software licenses	$	27332		$	8330		$	~~419~~751		$	~~618~~649
Maintenance and services		2,~~473~~472			2,~~453~~056			57,~~010~~482			57,~~076~~131
Total revenues		2,~~500~~804			2,~~536~~086			58,~~429~~233			57,~~694~~780
Cost of revenues:
Software licenses		—10			—17			6272			5067
Maintenance and services		~~958~~922			~~1,021~~951			2,~~029~~952			23,~~092~~043
Total cost of revenues		~~958~~932			~~1,021~~968			23,~~091~~024			23,~~142~~110
Gross profit		1,~~542~~872			1,~~515~~118			35,~~338~~209			34,~~552~~670
Operating expenses:
Research and development		~~431~~415			~~257~~306			~~782~~1,196			~~550~~856
Selling and marketing		~~722~~652			~~715~~557			12,~~351~~002			12,~~465~~021
General and administrative		~~427~~422			~~368~~298			~~903~~1,325			~~836~~1,134
Total operating expenses		1,~~580~~489			1,~~340~~161			34,~~036~~523			24,~~851~~011
Income (loss) from operations		~~(38~~383	)		~~175~~(43	)		~~302~~686			~~701~~659
Other income (expense):
Financial income (expenses), net		(7162	)		36(40	)		(~~168~~230	)		(5999	)
Gain on forgiveness of debt (1)		~~210~~—			—			210			—
Total other income (expense)		~~139~~(62	)		36(40	)		42(20	)		(5999	)
Income before taxes		101			211			344			642
Income (loss) before taxes		321			(83	)		666			560
Taxes on income		—15			4—			—15			19
Net income	$	101		$	207		$	344		$	623
Net income (loss)	$	306		$	(83	)	$	651		$	541
Basic income per share	$	0.02		$	0.05		$	0.09		$	0.16
Basic income (loss) per share	$	0.07		$	(0.02	)	$	0.16		$	0.14
Diluted income per share	$	0.02		$	0.05		$	0.08		$	0.15
Diluted income (loss) per share	$	0.07		$	(0.02	)	$	0.15		$	0.13
Weighted average number of shares used in computation of basic income per share		4,~~075~~081,~~928~~798			3,~~894~~899,~~748~~611			4,~~039~~053,~~546~~730			3,~~870~~880,~~979~~593
Weighted average number of shares used in computation of diluted income per share		4,~~460~~474,~~903~~088			43,~~269~~899,~~369~~611			4,~~420~~443,~~647~~396			4,~~245~~259,~~600~~421

(1) In July 2012 the Company and its convertible debt holder agreed to modify the convertible debt agreement between them such that under certain conditions, the Company would pay $270,000 of the original debt of $480,000 that iswas due in August 2013, in 12 equal monthly installments starting in July 2012, and if the Company pays all installments and the convertible debt holder does not convert any portion of the debt to shares, then upon payment by the Company of the final installment, the remaining outstanding $210,000 of the original debt of $480,000 will be forgiven. As the Company met all of the payment conditions and the debt holder did not convert the balance of the original debt to Ordinary Shares prior to payment of the last installment, which occurred in June 2013, the remaining outstanding principal balance of $210,000 was forgiven and recorded as gain from forgiveness of debt in the Company’s income statement, during the second quarter of 2013.

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