SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

SHARE-BASED COMPENSATION [Abstract]

Restricted Stock Units Activity

A summary of the status of the Company's restricted stock units activity in 2017 is as follows:

	Shares of Restricted Stock Units			Weighted Average Grant Date Price per Share
Outstanding at January 1, 2017		350,891		$	11.44
Granted		142,650			11.49
Forfeited		(21,201	)		10.52
Vested		(84,638	)		12.00
Outstanding at December 31, 2017		387,702		$	11.39
Expected to vest		380,992

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%

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	1.33%

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

Expected volatility	87%
Expected dividends	None
Expected term (in years)	6.5
Risk free interest rate	0.92%

The fair value of the 2011 options granted was calculated using the Black-Scholes option valuation model with the following range of assumptions:

Expected volatility	96% to 413%
Expected dividends	None
Expected term (in years)	5-10
Risk free interest rate	1.26% to 3.34%

The fair value of the 2010 options granted was calculated using the Black-Scholes option valuation model with the following range of assumptions:

Expected volatility	338% to 467%
Expected dividends	None
Expected term (in years)	5-10
Risk free interest rate	2.37% to 3.68%

Summary of Status of Stock Option Awards and Warrants

A summary of the status of the Company's stock option and warrant awards is presented below:

	Stock Options and Warrants			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life		Intrinsic Value (in thousands)
Outstanding at January 1, 2017		1,348,437		$	7.79
Granted		-			-
Expired		-			-
Exercised		(24,850	)		5.90
Forfeited		-			-
Outstanding at December 31, 2017		1,323,587		$	7.82		4.2	$	7,518
Expected to vest		125,000		$	12.26		6.1	$	155
Exercisable at December 31, 2017		998,587		$	8.15		4.6	$	5,342

Summary of Status of Non-Vested Options

A summary of the status of the Company's non-vested options that are expected to vest is presented below:

	Shares			Weighted Average Grant-Date Fair Value Per Share
Non-vested at January 1, 2017		492,500		$	8.25
Granted		-			-
Forfeited		-			-
Vested		(167,500	)		11.04
Non-vested at December 31, 2017		325,000		$	6.81