STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

STOCK-BASED COMPENSATION [Abstract]

Black-Scholes Option Valuation Assumptions

 The fair value of the options granted was calculated using the Black-Scholes option valuation model with the following assumptions:

Expected volatility	85%
Expected dividends	None
Expected term (in years)	6.25
Risk free interest rate	1.326%

Summary Of Status Of Stock Option Awards

A summary of the status of the Company’s stock option awards is presented below:

	Number of StockOptions			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life
Outstanding at January 1, 2013		1,173,180		$	4.04
Granted		90,000			7.71
Exercised		(29,320	)		4.29
Expired		--			--
Cancelled		--			--
Forfeited		--			--
Outstanding at September 30, 2013		1,233,860		$	4.31		7.0
Exercisable at September 30, 2013		428,356		$	3.55		6.2