Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

v2.4.0.8
STOCKHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2014
Employee Stock Option [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of options activity during the six months ended June 30, 2014 is presented below:
 
 
 
 
 
 
Weighted
 
Weighted
 
 
 
 
 
 
 
 
 
Average
 
Average
 
 
 
 
 
 
 
Number of
 
Exercise
 
Remaining Life
 
Intrinsic
 
 
 
 
Options
 
Price
 
(in years)
 
Value
 
Outstanding, December 31, 2013
 
 
7,136,236
 
$
2.85
 
 
 
 
 
 
Granted
 
 
-
 
 
-
 
 
 
 
 
 
Exercised
 
 
(598,367)
 
 
1.59
 
 
 
 
 
 
Expired
 
 
(784,965)
 
 
2.67
 
 
 
 
 
 
Forfeited
 
 
(595,068)
 
 
2.79
 
 
 
 
 
 
Outstanding, June 30, 2014
 
 
5,157,836
 
$
3.04
 
2.9
 
$
252,104
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable, June 30, 2014
 
 
4,630,041
 
$
2.94
 
3.0
 
$
252,104
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The Company used the following weighted average assumptions in applying the Black-Scholes option pricing model during the three and six months ended June 30, 2014 and 2013:
 
 
For The Three Months Ended
June 30,
 
For The Six Months Ended
June 30,
 
 
2014
 
2013
 
2014
 
2013
 
Risk free interest rate
 
 
n/a
 
 
 
0.71
%
n/a
 
0.71
%
Expected term (years)
 
 
n/a
 
 
 
3.08
 
n/a
 
3.09
 
Expected volatility
 
 
n/a
 
 
 
48.2
%
n/a
 
48.4
%
Expected dividends
 
 
n/a
 
 
 
0
%
n/a
 
0
%
Forfeiture rate
 
 
5.0
%
 
 
5.0
%
5.0
%
5.0
%
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table presents information related to stock options at June 30, 2014:
 
 
 
Options Outstanding
 
Options Exercisable
 
 
 
Weighted
 
 
 
 
Weighted
 
Weighted
 
 
 
 
Range of
 
Average
 
Outstanding
 
Average
 
Average
 
Exercisable
 
Exercise
 
Exercise
 
Number of
 
Exercise
 
Remaining Life
 
Number of
 
Price
 
Price
 
Options
 
Price
 
In Years
 
Options
 
$1.59 - $2.00
 
$
1.59
 
 
381,975
 
$
1.59
 
 
0.6
 
 
381,975
 
$2.01 - $2.50
 
$
2.48
 
 
2,630,000
 
$
2.48
 
 
4.0
 
 
2,630,000
 
$2.51 - $3.50
 
$
2.72
 
 
251,232
 
$
2.72
 
 
1.0
 
 
251,232
 
$3.51 - $4.50
 
$
3.85
 
 
1,859,000
 
$
3.85
 
 
2.1
 
 
1,331,205
 
$4.51 - $9.50
 
$
8.03
 
 
19,868
 
$
8.03
 
 
0.8
 
 
19,868
 
$9.51 - $41.78
 
$
33.94
 
 
15,761
 
$
33.94
 
 
0.8
 
 
15,761
 
$1.59 - $41.78
 
$
3.04
 
 
5,157,836
 
$
2.94
 
 
3.0
 
 
4,630,041
 
Warrant [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
 A summary of warrants activity during six months ended June 30, 2014 is presented below: 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
Weighted
Average
 
 
 
 
 
 
 
 
 
Average
Remaining
 
 
 
 
 
 
Number of
 
Exercise
Life
 
Intrinsic
 
 
 
Warrants
 
Price
In Years
 
Value
 
Outstanding, December 31, 2013
 
 
899,156
 
$
2.54
 
 
 
 
 
 
 
Issued
 
 
237,464
 
 
2.30
 
 
 
 
 
 
 
Exercised
 
 
-
 
 
-
 
 
 
 
 
 
 
Expired
 
 
(109,441)
 
 
3.70
 
 
 
 
 
 
 
Outstanding, June 30, 2014
 
 
1,027,179
 
$
2.36
 
 
3.7
 
$
32,752
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable, June 30, 2014
 
 
1,027,179
 
$
2.36
 
 
3.7
 
$
32,752
 
Schedule of Share-based Compensation, Equity Instruments Other than Options, by Exercise Price Range [Table Text Block]
A summary of outstanding and exercisable warrants as of June 30, 2014 is presented below:
 
Warrants Outstanding
 
 
Warrants Exercisable
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
 
Outstanding
 
 
Average
 
 
Exercisable
 
 
Exercise
 
Exercisable
 
 
Number of
 
 
Remaining Life
 
 
Number of
 
 
Price
 
Into
 
 
Warrants
 
 
In Years
 
 
Warrants
 
$
1.59
 
Common Stock
 
 
46,130
 
 
1.0
 
 
46,130
 
$
2.30
 
Preferred Stock
 
 
911,564
 
 
4.0
 
 
911,564
 
$
3.70
 
Common Stock
 
 
69,485
 
 
0.3
 
 
69,485
 
 
 
 
Total
 
 
1,027,179
 
 
3.6
 
 
1,027,179