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STOCK OPTIONS (Tables)
 3 Months Ended
Mar. 31, 2015
STOCK OPTIONS  
Schedule of assumptions used principally in determining the fair value of options granted

 

 

March 31,
2015

 

 

 

 

 

Risk-free interest rate

 
1.74 

%

Expected dividend yield

 
0.00 

%

Expected term (in years)

 
6.08 

 

Expected volatility

 
120.07 

%

 

Summary of option activity

A summary of option activity as of March 31, 2015 and changes for the period then ended are presented below (in thousands, except per share data):

Options

 

Shares

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term in
Years

 

Aggregate
Intrinsic Value

 

Outstanding at December 31, 2014

 
2,606,737

 

$
6.58

 

 

 

 

 

Granted

 
131,250

 

$
12.08

 

 

 

 

 

Forfeited

 
(42,160

)

$
9.54

 

 

 

 

 

Exercised

 
(91,148

)

$
5.25

 

 

 

 

 

Outstanding at March 31, 2015

 
2,604,679

 

$
6.85

 
7.51

 

$
13,330

 

 

 

 

 

 

 

 

 

 

 

Vested at March 31, 2015

 
1,165,942

 

$
5.93

 
5.67

 

$
7,031