SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

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

	Year Ended December 31, 2015
Options granted	Average risk-free rate of return	Exercise multiple	Volatility rate	Dividend yield	Post- vesting forfeiture rate
January 12, 2015	2.82%	1.8-3 times	93.0%	0%	5%-8%

July 06, 2015	3.20%	3 times	91.0%	0%	5%

September 09, 2015	2.94%-3.08%	1.8-3 times	91.0%-92.0%	0%	5%-8%

A summary of the aggregate option activity and information regarding options outstanding as of December 31, 2017 is as follows:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Aggregate Intrinsic Value
Options outstanding on January 1, 2017		15,259,141		0.50
Granted		—		—
Forfeited		(24,965)		0.59
Expired		(3,584)		0.59
Exercised		(5,596,050)		0.49
Options outstanding on December 31, 2017		9,634,542		0.50		5.59		18,935,239
Options vested or expected to vest on December 31, 2017		19,017,508		0.46		5.00		38,124,185
Options exercisable on December 31, 2017		8,282,615		0.48		5.34		16,408,217

A summary of the non-vested RSU activity in 2017 is as follows:

	Number of RSUs		Weighted Average Grant Date Fair Value
Nonvested RSUs on January 1, 2017		—		—
Granted		12,653,992		0.98
Vested		(2,366,374)		0.98
Forfeited		(46,875)		0.98
Nonvested RSUs on December 31, 2017		10,240,743		0.98