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STOCK BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2014
STOCK BASED COMPENSATION  
Schedule of weighted-average assumptions used for estimation of the fair value of the options granted under the Plan at the date of grant, using the Black-Scholes Option Valuation Model

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Risk-free interest rate

 

1.01%

 

0.5% to 0.86%

 

1.01%

 

0.50%

 

Dividend yield

 

n/a

 

n/a

 

n/a

 

n/a

 

Volatility factor of the expected market price of common stock

 

70%

 

66% to 69%

 

70%

 

66%

 

Weighted-average expected life of option

 

3.5 years

 

3.5 years

 

3.5 years

 

3.5 years

 

Weighted-average grant date fair value

 

$1.45

 

$1.02

 

$1.45

 

$1.01