SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

Share-Based Compensation [Abstract]

Movements of Options Issued and Outstanding

Options issued and outstanding at September 30, 2013 and their movements during the nine months then ended are as follows:

	Number of underlying shares		Weighted-  Average Exercise Price Per Share		Aggregate Intrinsic Value (1)	Weighted- Average Contractual Life Remaining in Years
Outstanding at January 1, 2013	715,000	$	5.25	$	65,700	8.47
Granted	60,000		5.60			10.00
Exercised	-
Expired	-
Forfeited	-
Outstanding at September 30, 2013	775,000	$	5.28	$	306,600	7.92
Exercisable at September 30, 2013	445,000	$	5.71	$	177,000	7.59

(1) The intrinsic value of the stock options at September 30, 2013 and December 31, 2012 is the amount by which the market value of the Company’s common stock of $4.98 and $4.39, as of September 30, 2013 and December 31, 2012, respectively, exceeds the exercise price of the option.