Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v2.4.0.8
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 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
   
(145,820
)
   
2.91
     
Expired
   
--
     
--
     
Cancelled
   
--
     
--
     
Forfeited
   
(20,000
)
 
$
2.82
     
Outstanding at September 30, 2014
   
1,660,540
   
$
7.19
     
7.0
 
Exercisable at September 30, 2014
   
576,401
   
$
4.89
     
5.7