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STOCK BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of automatic additions to the 2010 Plan

The following table presents the automatic additions to the 2010 Plan since inception pursuant to the “evergreen” terms of the 2010 Plan:

 

January 1,   Number of
shares
 
2012     30,018  
2013     34,452  
2014     49,532  
2015     65,557  
2016     220,419  
Total additional shares     399,978  
Schedule of stock options

Options issued and outstanding as of September 30, 2016 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, 2016     240,930     $ 38.89             $ -  
Granted     185,245       3.95               -  
Forfeited     (35,751 )     28.90               -  
Outstanding as of  September 30, 2016     390,424       25.81       7.36     $ 6,451,077  
Exercisable as of  September 30, 2016     242,356       41.1       5.54     $ -  
Vested and expected to vest (1)     414,177     $ 28.95       7.02     $ -  

  

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