STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2014

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table presents information concerning stock option grants for the nine months ended September 30, 2014:

	Employees			Executives & Officers			Directors
Date of Grant	January – September 2014			January – September 2014			January - September 2014
Fair value of common stock on date of grant	$	1.66 - 2.20		$	1.22 - 2.20		$	1.22 - 2.20
Exercise price of the options	$	1.66 - 2.20		$	1.22- 2.20		$	1.22-2.20
Expected life of the options (years)		6.06			6.06 - 6.11			5.09 – 5.31
Dividend yield		0.00	%		0.00	%		0.00	%
Expected volatility		40.28- 41.72	%		40.69 - 41.70	%		38.64 - 38.68	%
Risk-free interest rate		1.91 - 2.11	%		1.85 - 2.11	%		1.53 – 1.75	%
Expected forfeiture per year (%)		10.00	%		10.00	%		10.00	%
Weighted average fair value of the options per unit	$	0.87		$	0.53		$	0.70

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Options issued and outstanding as of September 30, 2014 and their activities during the nine months then ended are as follows:

	Number of Underlying Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Contractual Life Remaining in Years		Aggregate Intrinsic Value
Outstanding as of January 1, 2014		2,282,719	$	4.43			$	282,063
Granted		2,081,669		1.53
Forfeited		(740,156)		4.36				21,540
Exercised		(160,000)		1.20				69,388
Outstanding as of September 30, 2014		3,464,232		3.10		8.21		117,267
Exercisable as of September 30, 2014		1,347,215		4.49		6.47		15,856
Vested and expected to vest (1)		3,190,856	$	3.17		8.11	$	108,485

(1) vested shares and unvested shares after a forfeiture rate is applied