v2.4.1.9
SHARE-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Schedule Of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following tables reflect assumptions used to determine the fair value of the option award:
 
Options granted on November 8, 2010:
 
Exercisable Period
 
12/8/2010 -
11/8/2020
 
11/8/2011 -
11/8/2020
 
11/8/2012 -
11/8/2020
 
Risk-free Rate (%)
 
 
1.12
 
 
1.27
 
 
1.46
 
Expected Lives (years)
 
 
5.04
 
 
5.50
 
 
6.00
 
Expected Volatility (%)
 
 
46.10
 
 
44.49
 
 
43.04
 
Expected forfeitures per year (%)
 
 
0.00-55.00
 
 
0.00-55.00
 
 
0.00-55.00
 
Dividend Yield (%)
 
 
0.00
 
 
0.00
 
 
0.00
 
 
Options granted on December 15, 2010:
 
Exercisable Period
 
1/15/2011 -
12/15/2020
 
12/15/2011 -
12/15/2020
 
12/15/2012 -
12/15/2020
 
Risk-free Rate (%)
 
 
2.15
 
 
2.32
 
 
2.50
 
Expected Lives (years)
 
 
5.04
 
 
5.50
 
 
6.00
 
Expected Volatility (%)
 
 
46.15
 
 
44.52
 
 
43.09
 
Expected forfeitures per year (%)
 
 
0.00
 
 
0.00
 
 
0.00
 
Dividend Yield (%)
 
 
0.00
 
 
0.00
 
 
0.00
 
 
Options granted on March 8, 2012:
 
Exercisable Period
 
09/08/2012 -
03/08/2020
 
03/08/2013 -
03/08/2020
 
Risk-free Rate (%)
 
 
0.94
 
 
1.00
 
Expected Lives (years)
 
 
5.25
 
 
5.49
 
Expected Volatility (%)
 
 
45.91
 
 
45.22
 
Expected forfeitures per year (%)
 
 
0.00
 
 
0.00
 
Dividend Yield (%)
 
 
0.00
 
 
0.00
 
 
Options granted on November 23, 2012:
 
Exercisable Period
 
12/23/2012 -
11/8/2020
 
11/23/2013 -
11/8/2020
 
11/23/2014 -
11/8/2020
 
Risk-free Rate (%)
 
 
0.53
 
 
0.60
 
 
0.68
 
Expected Lives (years)
 
 
4.02
 
 
4.48
 
 
4.98
 
Expected Volatility (%)
 
 
37.43
 
 
46.48
 
 
46.45
 
Expected forfeitures per year (%)
 
 
0.00
 
 
0.00
 
 
0.00
 
Dividend Yield (%)
 
 
0.00
 
 
0.00
 
 
0.00
 
Schedule Of Share-Based Compensation, Activity [Table Text Block]
A summary of option activity under the Plan as of March 31, 2015, and changes during the three months ended March 31, 2015 are presented below:
 
 
 
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
 
 
 
Weighted-
 
Average
 
 
 
 
 
 
 
 
 
Average
 
Remaining
 
Aggregate
 
 
 
 
 
 
Exercise
 
Contractual
 
Intrinsic
 
Options
 
Shares
 
Price
 
Term
 
Value
 
Outstanding as of January 1, 2015
 
 
750,000
 
$
3.14
 
 
 
 
 
 
Granted
 
 
-
 
$
-
 
 
 
 
 
 
Exercised
 
 
-
 
$
-
 
 
 
 
 
 
Forfeited
 
 
(80,000)
 
$
4.40
 
 
 
 
 
 
Outstanding as of March 31, 2015
 
 
670,000
 
$
2.99
 
3.12 Years
 
$
537,202
 
Exercisable as of March 31, 2015
 
 
670,000
 
$
2.99
 
2.91 Years
 
$
537,202
 
Vested and expected to vest (1)
 
 
670,000
 
$
2.99
 
3.12 Years
 
 
 
 
 
(1)         Includes vested shares and unvested shares after a forfeiture rate is applied.