CUMULATIVE PERPETUAL PREFERRED STOCK (Table)

9 Months Ended

Sep. 30, 2013

Stockholders' Equity Note [Abstract]

Schedule of assumptions used in Black-Scholes option pricing model

Assumptions used in the Black-Scholes option pricing model were as follows:

Risk-free interest rate*	0.14	%
Expected life of warrants	10.5 months
Expected dividend yield	—
Expected volatility	42.97	%

 * The risk-free interest rate was based on the market yield for one-year U.S. Treasury securities as of the ECB acquisition date.

Assumptions used in the Black-Scholes option pricing model were as follows:

Risk-free interest rate*	0.31	%
Expected life of warrants	2 years
Expected dividend yield	—	%
Expected volatility	65.10	%

 * The risk-free interest rate was based on the market yield for two-year U.S. Treasury securities as of the acquisition date.