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STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2014
Stockholders' Equity Note [Abstract]  
Schedule of assumptions used in the Black-Scholes Model of stock options

The assumptions used in the Black-Scholes Model during the nine months ended September 30, 2014 and 2013 are set forth in the table below.

 

 

Nine Months

Ended

September 30,

2014

 

Nine Months

Ended

September 30,

2013

Risk-free interest rate 1.68-1.77%   0.65-1.71%
Volatility 69.15-70.93%   33.35-45.76%
Term (in years) 5-6.25   5-6.25
Dividend yield 0.00%   0.00%

 

Schedule of option activity

A summary of activity under the LTIP and 2012 SOP and related information follows:

 

   Number of
Shares
Underlying
Stock
Options
  Weighted
Average
Exercise
Price
  Weighted
Average
Remaining
Contractual
Life in Years
  Aggregate
Intrinsic
Value
Balance at December 31, 2013   15,632,742   $1.44    7.2   $58,878,132 
   Granted   2,013,500   $4.85           
   Exercised   (788,030)               
   Expired   (167)               
   Cancelled   (6,102)               
Balance at September 30, 2014   16,851,943   $1.90    7.1   $46,835,281 
Vested and Exercisable at                    
    September 30, 2014   12,075,621   $1.19    5.8   $41,687,931