STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 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		(145,820	)		2.91
Expired		--			--
Cancelled		--			--
Forfeited		(20,000	)	$	2.82
Outstanding at September 30, 2014		1,660,540		$	7.19		7.0
Exercisable at September 30, 2014		576,401		$	4.89		5.7