STOCK OPTIONS (Tables)

9 Months Ended

Sep. 30, 2014

STOCK OPTIONS

Schedule of assumptions used principally in determining the fair value of options granted

	September 30, 2014
Risk-free interest rate	1.90	%
Expected dividend yield	0.00	%
Expected term (in years)	6.08
Expected volatility	120.65	%

Summary of option activity

Options	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Outstanding at December 31, 2013	8,055,522		$	1.55
Granted	2,975,000		$	2.16
Forfeited	(1,652,537	)	$	1.87
Exercised	(476,330	)	$	0.34
Outstanding at September 30, 2014	8,901,655		$	1.76	7.38	$	728,905
Vested at September 30, 2014	3,720,301		$	1.21	5.07	$	728,905