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STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Schedule of stock option activity

A summary of stock option activity under the 2011 Long-Term Incentive Plan as of September 30, 2016, and changes during the nine months ended September 30, 2016, are presented below:

  

    Stock
Options
    Weighted average
exercise price
    Weighted
average remaining
contractual term
    Aggregate
intrinsic value
 
Outstanding as of January 1, 2016     344,733     $ 9.35             $    
Granted     27,000       3.68                  
Exercised                            
Forfeited     (124,333 )     9.31                  
Outstanding as of September 30, 2016     247,400     $ 8.75       6.2     $ 105,270  
Exercisable as of September 30, 2016     197,733       9.30       5.6       48,840