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SHARE BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2013
SHARE BASED COMPENSATION [Abstract]  
Schedule of Assumptions Used

The following assumptions were used in the Binomial option pricing model:

 

    Year Ended December 31, 2012  
Options
granted		   Average
risk-free
rate of
return		     Exercise
multiple		     Volatility
rate		     Dividend
yield		     Post-
vesting
forfeiture
rate		  
January 9, 2012     2.05%       2.2 ~ 3.0 times       58.7%       0%       3-9.5%  

 

    Year Ended December 31, 2013  
Options
granted		   Average
risk-free
rate of
return		     Exercise
multiple		     Volatility
rate		     Dividend
yield		     Post-
vesting
forfeiture
rate		  
April 3, 2013     2.29%       2.8 times       51.78%       0%       3%  
Summary of Stock Option Activity

A summary of the aggregate option activity and information regarding options outstanding as of December 31, 2012 is as follows:

 

    Number of
Options		     Weighted
Average
Exercise
Price		     Weighted
Average
Remaining
Contract Life		     Aggregate
Intrinsic
Value		  
Options outstanding on January 1, 2013 (after modification of exercise price)     7,179,500     $ 0.25                  
Granted     140,000     $ 0.25                  
Forfeited     (304,912 )   $ 0.25                  
Expired     (92,918 )   $ 0.25                  
Exercised     (550,420 )   $ 0.25                  
Options outstanding on December 31, 2013     6,371,250     $ 0.25       6.42     $ -  
Options vested or expected to vest on December 31, 2013     5,915,969     $ 0.25       6.37     $ -  
Options exercisable on December 31, 2013     5,364,292     $ 0.25       6.43     $ -