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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of black - scholes option-pricing model valuation assumption

The calculation of the fair value of the awards using the Black - Scholes option-pricing model is affected by the Company’s stock price on the date of grant as well as assumptions regarding the following:

		Nine months ended September 30,
		2016				2015
Expected volatility			368% - 390%				306%
Expected term			4 Years				4 Years
Risk-free interest rate			1.36% - 1.61%				0.91% - 1.69%
Forfeiture Rate			0.00%				0.00%
Expected dividend yield			0.00%				0.00%

Schedule of outstanding stock options

A summary of the status of the Company’s outstanding stock options as of September 30, 2016 and changes during the period ending on that date is as follows:

						Weighted Average				Aggregate				Average
						Exercise				Intrinsic				Remaining
		Shares				Price				Value				Term (Yrs)
Options
Balance at December 31, 2015			4,634,166			$	0.81			$	5,286,107				5.49
Granted			1,317,500			$	2.01
Exercised			(40,000	)		$	0.42
Forfeiture and cancelled			(140,801	)		$	1.47
At September 30, 2016			5,770,865			$	1.07			$	5,933,912				5.26

Exercisable at September 30, 2016			4,388,296			$	0.82