EMPLOYEE STOCK OPTION PLANS (Tables)

12 Months Ended

Dec. 31, 2013

EMPLOYEE STOCK OPTION PLANS [Abstract]

Weighted-average assumptions used for options granted

The estimated fair value of each option award granted under the 2009 plan, was determined on the date of grant using the Black-Scholes option valuation model.  The following weighted average assumptions were used for option grants during the years ended  December 31, 2013, 2012 and 2011:

	2013	2012	2011
Risk-free interest rate	0.72%	0.90%	2.08%
Expected volatility	106.0%	101.8%	100.9%
Dividend yield	0%	0%	0%
Expected option term-in years	5	5	5

Stock option activity

A summary of the status of the Company’s stock option plans is as follows:

Fixed Options Options Weighted  average  Exercise  Price Weighted average  remaining  contractual term (in years) Aggregate  Intrinsic  Value

Outstanding
at January 1, 2011	780,333	$6.68	2.92
Granted during period	80,000	14.90
Exercised	(165,333)	3.72
Outstanding
at December 31, 2011	695,000	$8.33	2.66
Granted during period	40,517	11.87
Exercised	(240,000)	6.85
Outstanding
at December 31, 2012	495,517	$9.33	2.73
Granted during period	46,402	10.64
Exercised	(45,000)	6.70
Forfeited/Expired	(35,000)	8.20
Outstanding
at December 31, 2013	461,919	9.80	2.28	$2,471,917
Vested
at December 31, 2013	461,919	9.80	2.28	$2,471,917