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SHARE-BASED PAYMENTS (Tables)

9 Months Ended

Sep. 30, 2016

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

Schedule of share-based payment award, stock options, valuation assumptions

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $3.17 million of fair value for the 4,168,750 warrants issued in connection with the public offering in September 2016.

Risk-free rate	1.2%
Expected life	5.0 years
Expected volatility	145.2%*
Expected dividend yield	—%

* Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the less than $0.01 million of fair value for the 1,224,000 warrants at September 30, 2016.

Risk-free rate	0.29%
Expected life	0.3 years
Expected volatility	33.3%*
Expected dividend yield	—%

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $0.74 million of fair value for the 2,515,625 warrants at September 30, 2016.

Risk-free rate	0.88%
Expected life	2.5 years
Expected volatility	97.6%*
Expected dividend yield	—%

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $2.09 million of fair value for the 2,515,625 warrants issued in connection with the public offering in March 2016.

Risk-free rate	1.15%
Expected life	3.0 years
Expected volatility	106.0%*
Expected dividend yield	—%

* Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $2.93 million of fair value for the 4,168,750 warrants at September 30, 2016.

Risk-free rate	1.14%
Expected life	5.0 years
Expected volatility	147.11%*
Expected dividend yield	—%

* Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

The fair value of the options granted under the Compensation Plan for the nine months ended September 30, 2016 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted-average assumptions:

Risk-free interest rate	1.03% - 1.43%
Expected life	5.0 years
Expected volatility	64.7% -74.8%*
Expected dividend yield	—%
Weighted-average expected life of option	5.00
Weighted-average grant date fair value	$1.22 - $1.23

* Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the options.

Schedule of share-based compensation, stock options, activity

The summary of the Company’s stock options at September 30, 2016 and December 31, 2015, and the changes for the fiscal periods ending on those dates is presented below:

	Nine Months ended									Year ended
	September 30, 2016									December 31, 2015
	Range of Exercise Prices $			Weighted Average Exercise Price $			Number of Options			Range of Exercise Prices $		Weighted Average Exercise Price $			Number of Options
Balance, beginning of period	2.55 - 32.10			6.54			2,122,897			6.55 - 38.12		10.05			905,413
Transactions during the period:
Granted	2.12 - 2.22			2.13			449,540			2.55 - 18.55		6.02			2,176,330
Exercised	2.12			2.12			(8,369	)		2.55 - 4.48		3.78			(48,802	)
Forfeited	2.12 - 19.44			5.95			(272,528	)		4.44 - 29.71		7.29			(574,486	)
Expired	2.95 - 32.78			8.02			(106,562	)		7.47 - 32.10		7.42			(335,558	)
Balance, end of period	2.12 - 15.61			5.81			2,184,978			2.55 - 32.10		6.54			2,122,897

Schedule of share-based compensation, restricted stock and restricted stock units activity

A summary of the status and activity of non-vested stock options and RSUs at September 30, 2016 is as follows:

	Stock-option							RSU
	Number of shares			Weighted Average Grant- Date Fair Value				Number of shares			Weighted Average Grant- Date Fair Value
Non-vested December 31, 2015	177,698			$	3.44			272,866			$	4.03
Granted	449,540			1.29				1,205,336			2.14
Vested	(357,634	)		2.15				(138,608	)		4.65
Forfeited	(28,045	)		2.08				(9,125	)		5.39
Non-vested September 30, 2016	241,559			$	1.50			1,330,469			$	2.37

Schedule of compensation costs for share-based payment arrangements

The share-based compensation recorded during the three and nine months ended September 30, 2016 and 2015 is as follows:

	Three months ended								Nine months ended
	September 30,								September 30,
	2016				2015				2016				2015
Share-based compensation	$	576			$	22			$	1,688			$	810
Replacement of options from business combinations and asset acquisitions	—				—				—				3,683
Value of stock options granted	$	576			$	22			$	1,688			$	4,493

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