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WARRANTS (Tables)
12 Months Ended
Dec. 31, 2015
WARRANTS.  
Schedule of assumptions used to estimate the fair value of the Warrants

 

                                                                                                                                                                                    

 

 

As of October 26,
2015

 

As of December 11,
2015

 

As of December 31,
2015

Exercise price

 

$

24.48 

 

$

28.08 

 

$24.48 ~ $28.08

Risk-free interest rate

 

 

0.672 

%

 

0.935 

%

1.036% ~ 1.057%

Dividend yield

 

 

 

 

 

Time to maturity

 

 

 

 

 

1.82 ~ 1.95

Expected volatility

 

 

67.24 

%

 

65.13 

%

63.38% ~ 63.88%

 

Schedule of reconciliation of the beginning and ending balances of the Warrants measured at fair value

 

                                                                                                                                                                                    

Derivative Liabilities

 

At December 31,
2015

 

 

 

$

 

Beginning balance

 

 

 

Warrants issued

 

 

16,378 

 

Fair value change of the Warrants included in earnings

 

 

8,887 

 

​  

​  

Ending balance

 

 

25,265 

 

​  

​  

​  

​