STOCK OPTIONS (Tables)

6 Months Ended

Jun. 30, 2013

Stock Options Tables

Assumption used for stock option granted

The assumptions used principally for stock options granted to employees and members of the Company’s Board of Directors in the six months ended June 30, 2013 and 2012 were as follows:

	2013			2012
Risk-free interest rate		0.13% - 1.41	%		0.94% - 2.05	%
Expected dividend yield		—			—
Expected term	1 - 6.5 years			6.5 years
Forfeiture rate (excluding fully vested stock options)		15	%		15	%
Expected volatility		129% - 141	%		131% - 137	%

Stock option activity

A summary of stock option activity as of and for the six months ended June 30, 2013 is as follows:

Stock Options	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2013		343,334		$	14.75
Granted		69,750			4.66
Exercised		—			—
Forfeited or expired		(21,334	)		23.88
Outstanding at June 30, 2013		391,750		$	12.45	6.99 years	$	—
Exercisable at June 30, 2013		240,575		$	11.04	5.57 years	$	—