STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Schedule of warrant activity

The following table summarizes the Company’s warrant activity:

	Common Unit Warrants
		Number of Warrants			Weighted Average Exercise Price	Weighted Average Remaining Contractual Term (In Years)
Outstanding – December 31, 2017		2,524,376		$	6.67	1.50
Granted		—			—	—
Exercised		(73,309	)		4.55	—
Expired		(13,067	)		4.55	—
Outstanding – March 31, 2018		2,438,000		$	6.75	1.30
Exercisable – March 31, 2018		2,438,000		$	6.75	1.30

Schedule of Stock Options, Valuation Assumptions

The shares were recorded at the fair value of $5.55 per share for a total of $444,000 and the stock options were valued using a Black Scholes model at $3.52 per option using the assumptions noted in the following table.

	2018
Expected volatility	67.8	%
Risk-free interest rate	2.5	%
Expected life	6.25	years
Dividend yield	0.0	%

Summary of restricted stock activity

A summary of the restricted stock activity is presented as follows:

	Shares			Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2017		237,000		$	5.24
Granted		—			—
Vested		(2,500	)		4.99
Forfeited		(30,000	)		5.25
Unvested balance at March 31, 2018		204,500		$	5.24

Schedule of option activity

The following table summarizes the Company’s stock option activity:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)
Outstanding – December 31, 2017	—		$	—	—
Granted		229,334		3.52		4.00
Exercised		—		—		—
Expired		—		—		—
Outstanding – March 31, 2018		229.334	$	3.52		3.83
Exercisable – March 31, 2018		—		—		—