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STOCKHOLDERS' EQUITY (Tables)
 6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Assumptions in Computing Option Fair Value

The fair value of all options granted by the Company for 2011 through 2014 was determined using the following assumptions:

 

Expected volatility

    70% - 90%

Risk free interest rate

    0.80% - 1.75%

Expected term (years)

    3.0 - 5.0

Dividend yield

    0%
Summary of Activity Related to Options Granted

Stock option activity is as follows:

 

     Number of
Options		     Weighted
Average
Exercise Price		      Weighted
Average
Remaining
Contractual Life		      Aggregate
Fair
Value		  

Outstanding December 31, 2012

      3,640,324      $ 1.76         2.69 Years       $ 6,406,970   

Granted

      446,000      $ 2.61         

Exercised

      (30,500 )    $ 2.67         

Forfeited

      (10,500 )    $ 2.35         

Expired

      —          —           
  

 

 

    

 

 

        

Outstanding December 31, 2013

      4,045,324      $ 1.85         2.05 Years       $ 7,483,849   

Granted

      252,000      $ 3.80         

Exercised

      (163,331 )    $ 1.37         

Forfeited

      —          —           

Expired

      —          —           
  

 

 

    

 

 

        

Outstanding June 30, 2014

      4,133,993      $ 1.99         1.83 Years       $ 8,226,646   

Exercisable at June 30, 2014

      3,812,329      $ 1.24          $ 4,727,288   

Unvested at June 30, 2014

      321,664