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STOCKHOLDERS' EQUITY (Tables)
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9 Months Ended |
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Sep. 30, 2014
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The options had an aggregate grant date value of $1,423,487, measured under the Black-Scholes option pricing model, using the following weighted average assumptions:
| | For the Three Months Ended | | For the Nine Months Ended | |
| | September 30, | | September 30, | |
| | 2014 | | 2013 | | 2014 | | 2013 | |
| Risk free interest rate | | | 1.11 | % | | | n/a | | | | 1.11 | % | | | 0.71 | % |
| Expected term (years) | | | 3.43 | | | | n/a | | | | 3.43 | | | | 3.09 | |
| Expected volatility | | | 46.4 | % | | | n/a | | | | 46.4 | % | | | 48.4 | % |
| Expected dividends | | | 0 | % | | | n/a | | | | 0 | % | | | 0 | % |
| Forfeiture rate | | | 5.0 | % | | | 5.0 | % | | | 5.0 | % | | | 5.0 | % |
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Employee Stock Option [Member]
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
A summary of options activity during the nine months ended September 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 | | | 2,649,000 | | | 2.48 | | | | | | | |
| Exercised | | | (598,367) | | | 1.59 | | | | | | | |
| Expired | | | (784,965) | | | 2.67 | | | | | | | |
| Forfeited | | | (595,068) | | | 2.79 | | | | | | | |
| Outstanding, September 30, 2014 | | | 7,806,836 | | $ | 2.85 | | | 3.4 | | $ | 144,827 | |
| | | | | | | | | | | | | | |
| Exercisable, September 30, 2014 | | | 4,735,606 | | $ | 2.96 | | | 2.7 | | $ | 156,610 | |
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| Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plans, by Exercise Price Range [Table Text Block] |
The following table presents information related to stock options at September 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 | | | 0.4 | | | 381,975 | |
| | | $2.01 - $2.50 | | $ | 2.48 | | | 5,279,000 | | $ | 2.48 | | | 3.8 | | | 2,661,250 | |
| | | $2.51 - $3.50 | | $ | 2.72 | | | 251,232 | | $ | 2.72 | | | 0.7 | | | 251,232 | |
| | | $3.51 - $4.50 | | $ | 3.85 | | | 1,859,000 | | $ | 3.85 | | | 1.8 | | | 1,436,770 | |
| | | $4.51 - $9.50 | | $ | 8.03 | | | 19,868 | | $ | 8.03 | | | 0.6 | | | 19,868 | |
| | | $9.51 - $41.78 | | $ | 33.94 | | | 15,761 | | $ | 33.94 | | | 0.6 | | | 15,761 | |
| | | $1.59 - $41.78 | | $ | 3.04 | | | 7,806,836 | | $ | 2.96 | | | 2.7 | | | 4,766,856 | |
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Warrant [Member]
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] |
A summary of warrants activity during nine months ended September 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 | | | 237,618 | | $ | 2.30 | | | | | | | |
| Exercised | | | - | | | - | | | | | | | |
| Expired | | | (178,926) | | $ | 3.70 | | | | | | | |
| Outstanding, September 30, 2014 | | | 957,848 | | $ | 2.27 | | | 3.6 | | $ | 18,913 | |
| | | | | | | | | | | | | | |
| Exercisable, September 30, 2014 | | | 957,848 | | $ | 2.27 | | | 3.6 | | $ | 18,913 | |
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| 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 September 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 | | | 0.8 | | | 46,130 | |
| $ | 2.30 | | Common Stock | | | 911,718 | | | 3.7 | | | 911,718 | |
| | | | Total | | | 957,848 | | | 3.6 | | | 957,848 | |
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