STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock option grants assumptions used in valuation model

The fair value of the stock options granted was measured using the Black-Scholes valuation model with the following assumptions:

	Year Ended December 31,
	2016			2015
Expected volatility		34 - 35	%		34 - 37	%
Expected life in years		5.5 - 6.0			5.5 - 6.0
Risk-free interest rate		1.57 - 1.66	%		1.52 - 1.62	%
Dividend yield		0	%		0	%

Schedule of stock option activity

A summary of stock option activity for the years ended December 31, 2016 and 2015, and changes during the years then ended is presented below:

	Stock Options			Weighted average exercise price		Weighted average remaining contractual term		Aggregate intrinsic value
Outstanding as of January 1, 2015		366,400		$	9.92		6.9	$	62,160
Granted		13,000			8.98		9.3		—
Exercised		—			—		—		—
Forfeited		(34,667	)		15.21		7.9		—
Outstanding as of December 31, 2015		344,733		$	9.35		6.5	$	62,160
Granted		27,000			3.68		9.2		61,290
Exercised		—			—		—		—
Forfeited		(124,333	)		9.31		5.9		—
Outstanding as of December 31, 2016		247,400		$	8.75		5.9	$	123,450
Exercisable as of December 31, 2016		197,733		$	9.3		5.3	$	62,160

Schedule of weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised

A summary of the weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised is shown below:

	Year Ended Decmber 31,
	2016		2015
Weighted-average fair value of options granted (per share)	$	1.33	$	3.20
Intrinsic value gain of options exercised		—		—
Cash receipts from exercise of options		—		—