STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2014

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	84%
Expected dividends	None
Expected term (in years)	6.25
Risk free interest rate	1.95%

Summary Of Status Of Stock Option Awards

A summary of the status of our stock option awards and warrants is presented below:

	Number of StockOptions & Warrants			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life
Outstanding at January 1, 2014		1,326,360		$	4.75
Granted		500,000			12.26
Exercised		(31,820	)		2.86
Expired		--			--
Cancelled		--			--
Forfeited		--			--
Outstanding at March 31, 2014		1,794,540		$	6.87		7.3
Exercisable at March 31, 2014		619,568		$	4.43		6.0