STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2014

STOCK BASED COMPENSATION

Schedule of fair values of stock options granted, estimated using Black-Scholes option valuation model assumptions

	Option Grants Awarded During the Three Months Ended June 30, 2014
Stock Price	$6.00 to $7.72
Dividend Yield	0%
Expected Volatility	69.8%
Risk-free interest rate	2.010%
Expected Life	6.93 to 7 years

Summary of stock option activity

	Number of Options	Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years	Value
Outstanding, January 1, 2014	—	$	—	$	—	—	$	—
Granted	376,500	6.00		4.01		9.91	1,525,415
Exercised	—	—		—		—	—
Forfeited	—	—		—		—	—
Outstanding, June 30, 2014	376,500	$	6.00	$	4.01	9.91	$	1,525,415
Exercisable, January 1, 2014	—	$	—	$	—	—	$	—
Vested	106,891	6.00		4.01		—	461,576
Exercised	—	—		—		—	—
Forfeited	—	—		—		—	—
Exercisable, June 30, 2014	106,891	$	6.00	$	4.01	9.91	$	461,576

Schedule of information related to stock options outstanding and exercisable

The following table presents information related to stock options outstanding and exercisable at June 30, 2014:

Options Outstanding			Options Exercisable
Exercise Price		Outstanding Number of Options	Weighted Average Remaining Life In Years	Exercisable Number of Options
$	6.00	364,000	9.91	106,891
7.20		12,500	10.0	—
		376,500	9.91	106,891

Schedule of stock-based compensation

	For the Three and Six Months Ended June 30, 2013		For the Three and Six Months Ended June 30, 2014
Employees	$	—	$	274,108
Consultants/Advisors	—		226,292
	$	—	$	500,400