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STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Schedule of warrant activity

The following table summarizes the Company’s warrant activity:

		Preferred Unit Warrants												Common Unit Warrants
		Number of Warrants				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (In Years)				Number of Warrants				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (In Years)
Outstanding – December 31, 2015			544,387			$	2.08				0.17				86,376			$	4.55				1.5
Granted			—				—				—				2,438,000				6.75				2.80
Exercised			(544,387	)			(2.08	)			—				—				—				—
Cancelled (forfeited)			—				—				—				—				—				—
Outstanding – September 30, 2016			—				—				—				2,524,376			$	6.67				2.76
Exercisable – September 30, 2016			—				—				—				2,524,376			$	6.67				2.76

Schedule of option activity

A summary of option activity under the Plan is as follows:

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (In Years)

Outstanding – December 31, 2015			14,516			$	4.13				7.83
Granted			—				—				—
Exercised			(14,516	)			(4.13	)			—
Cancelled (forfeited)			—				—				—
Outstanding – September 30, 2016			—			$	—				—
Exercisable – September 30, 2016			—			$	—				—

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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