Quarterly report pursuant to sections 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v2.4.0.8
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2013
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
85%
Expected dividends
None
Expected term (in years)
6.25
Risk free interest rate
1.326%

Summary Of Status Of Stock Option Awards
A summary of the status of the Company's stock option awards is presented below:

 
 
Number of Stock Options
 
 
Weighted Average Exercise Price per Share
 
 
Weighted
Average
Remaining
Contractual
Life
 
 
 
 
 
 
 
 
 
 
 
Outstanding at January 1, 2013
 
 
1,173,180
 
 
$
4.04
 
 
 
 
   Granted
 
 
90,000
 
 
 
7.71
 
 
 
 
   Exercised
 
 
(9,320
)
 
 
4.71
 
 
 
 
   Expired
 
 
--
 
 
 
--
 
 
 
 
   Cancelled
 
 
--
 
 
 
--
 
 
 
 
   Forfeited
 
 
--
 
 
 
--
 
 
 
 
Outstanding at June 30, 2013
 
 
1,253,860
 
 
$
4.30
 
 
 
7.2
 
Exercisable at June 30, 2013
 
 
428,356
 
 
$
3.55
 
 
 
6.4