Quarterly report pursuant to sections 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v2.4.0.8
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2014
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
84%
Expected dividends
None
Expected term (in years)
6.25
Risk free interest rate
1.95%
Summary Of Status Of Stock Option Awards
A summary of the status of our stock option awards and warrants is presented below:

   
Number of StockOptions & Warrants
   
Weighted Average Exercise Price per Share
   
Weighted
Average
Remaining
Contractual
Life
 
                   
Outstanding at January 1, 2014
    1,326,360     $ 4.75        
   Granted
    500,000       12.26        
   Exercised
    (31,820 )     2.86        
   Expired
    --       --        
   Cancelled
    --       --        
   Forfeited
    --       --        
Outstanding at March 31, 2014
    1,794,540     $ 6.87       7.3  
Exercisable at March 31, 2014
    619,568     $ 4.43       6.0