Quarterly report pursuant to sections 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v2.4.0.8
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 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 StockOptions
   
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
    (29,320 )     4.29        
   Expired
    --       --        
   Cancelled
    --       --        
   Forfeited
    --       --        
Outstanding at September 30, 2013
    1,233,860     $ 4.31       7.0  
Exercisable at September 30, 2013
    428,356     $ 3.55       6.2