STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2015

Summary of the Company's stock option activity, RSUs

	Number of			Weighted average
	unvested			grant-date
	RSA shares			fair value
Unvested shares as of January 1, 2015		2,063,100		$3.40 per share
Granted on March 12, 2015		73,194		$1.38 per share
Granted on August 18, 2015		2,155,538		$0.61 per share
Granted on September 30, 2015		75,000		$0.48 per share
Granted on October 5, 2015		295,586		$0.50 per share
Vested on January 25, 2015		(65,638	)	$3.14 per share
Vested on April 1, 2015		(1,272,834	)	$3.16 per share
Vested on May 1, 2015		(6,232	)	$2.39 per share
Vested on May 20, 2015		(76,744	)	$3.96 per share
Vested on July 14, 2015		(29,789	)	$3.89 per share
Vested on October 15, 2015		(48,747	)	$2.74 per share
Vested on November 1, 2015		(6,232	)	$2.39 per share
Vested on November 30, 2015		(16,157	)	$3.88 per share
Vested on December 31, 2015		(106,280	)	$3.88 per share
Forfeited		(690,392	)	$1.72 per share
Unvested shares as of December 31, 2015		2,343,373		$0.98 per share

Summary of the Company's stock option activity

					Weighted-
			Weighted-		average
			average		remaining		Aggregate
			exercise		contractual		intrinsic
	Options		price		life (years)		value
Outstanding at December 31, 2014		105,000	$	5.17		2.65	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited		-		-		-		-
Outstanding at December 31, 2015		105,000	$	5.17		2.65	$	-
Vested at December 31, 2015		105,000	$	5.17		2.65	$	-
Exercisable at December 31, 2015		105,000	$	5.17		2.65	$	-

Information about stock options outstanding and exercisable

		Options Outstanding						Options Exercisable
				Weighted-		Weighted				Weighted
				average		average				average
Exercise		Number of		remaining		exercise		Number of		exercise
price		shares		life (years)		price		shares		price
$	5.40		5,000		0.10	$	5.40		5,000	$	5.40
$	5.16		100,000		2.77	$	5.16		100,000	$	5.16
			105,000						105,000

Summary of the status of the unvested RSUs

				Weighted
	Number of			average
	unvested			grant-date
	RSUs			fair value
Unvested shares as of January 1, 2015		95,424		$2.72 per share
Forfeited		(15,146	)	$2.72 per share
Unvested shares as of December 31, 2015		80,278		$2.72 per share

Stock Appreciation Rights (RSAs) [Member]

Summary of the Company's stock option activity, RSUs

	Number of
	unvested			Weighted average
	RSA shares			fair value
Unvested shares as of January 1, 2015		-
Granted November 30, 2015		45,297		$0.19 per share
Granted December 15, 2015		173,224		$0.19 per share
Vested on December 31, 2015		(47,460	)	$0.19 per share
Unvested shares as of December 31, 2015		171,061		$0.19 per share

Stock Appreciation Rights (SARs) [Member]

Summary of the Company's stock option activity, RSUs

Stock Appreciation Rights – In 2015, the Company also issued Stock Appreciation Rights (“SARs”) for employees under the 2014 Plan, as follows:

				Weighted
	Number of			average
	unvested			grant-date
	SARs			fair value
Unvested shares as of January 1, 2015		-
Granted on August 18, 2015		2,159,855		$0.318 per share
Forfeited		(371,155	)	$0.318 per share
Unvested shares as of December 31, 2015		1,788,700		$0.318 per share

Below is a summary of the SARs and changes for the year to date ended December 31, 2015 for consultants.

	Number of		Weighted
	unvested		average
	SARs		fair value
Unvested shares as of January 1, 2015		-
Granted on November 30, 2015		19,080	$0.036 per share
Granted on December 15, 2015		104,639	$0.036 per share
Unvested shares as of December 31, 2015		123,719	$0.036 per share