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STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2015
Stockholders' Equity Note [Abstract] |
Schedule of warrant activity | Summary of our Warrant activity during the year ended December 31, 2015:
|  | Number of Shares Under Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value |
Balance at December 31, 2014 |  |  | 13,927,916 |  |  | $ | 1.82 |  |  |  | 3.0 |  |  | $ | 36,623,875 |
Granted |  |  | 50,000 |  |  | $ | 6.35 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,255,485 | ) |  | $ | 0.79 |  |  |  |  |  |  | $ | 7,282,404 |
Expired |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2015 |  |  | 12,722,431 |  |  | $ | 1.93 |  |  |  | 1.7 |  |  | $ | 107,344,752 |
Vested and Exercisable at December 31, 2015 |  |  | 12,422,432 |  |  | $ | 1.92 |  |  |  | 1.6 |  |  | $ | 104,909,091 |
Schedule of assumptions used in the Black-Scholes Model of warrants | The weighted average fair value per share of warrants issued and the assumptions used in the Black-Scholes Model during the years ended December 31, 2015, 2014 and 2013 are set forth in the table below.
| 2015 |  | 2014 |  | 2013
Weighted average fair value | $6.35 |  | n/a |  | $2.83
Risk-free interest rate | 1.02% |  | n/a |  | 0.88-1.12%
Volatility | 60.59% |  | n/a |  | 44.29-45.89%
Term (in years) | 5 |  | n/a |  | 5-6
Dividend yield | 0.00% |  | n/a |  | 0.00%
Schedule of assumptions used in the Black-Scholes Model of stock options | The ranges of assumptions used in the Black-Scholes Model during the years ended December 31, 2015, 2014 and 2013 are set forth in the table below.
| 2015 |  | 2014 |  | 2013
Risk-free interest rate | 1.47-1.67% |  | 0.07-1.77% |  | 0.65-1.71%
Volatility | 58.78-62.94% |  | 68.05-82.29% |  | 33.35-45.76%
Term (in years) | 5.27-6.25 |  | 5-6.25 |  | 5-6.25
Dividend yield | 0.00% |  | 0.00% |  | 0.00%
Schedule of plan activity | A summary of activity under the 2009 and 2012 Plans and related information during the year ended December 31, 2015 is as follows:
|  | Number of Shares Under Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value |
Balance at December 31, 2014 |  |  | 16,792,443 |  |  | $ | 1.88 |  |  |  | 6.9 |  |  | $ | 43,996,311 |
Granted |  |  | 4,685,000 |  |  | $ | 8.14 |  |  |  |  |  |  |  |  |
Exercised |  |  | (613,284 | ) |  | $ | 2.01 |  |  |  |  |  |  |  |  |
Expired |  |  | (102,500 | ) |  | $ | 2.68 |  |  |  |  |  |  |  |  |
Cancelled/Forfeited |  |  | (36,334 | ) |  | $ | 4.02 |  |  |  |  |  |  |  |  |
Balance at December 31, 2015 |  |  | 20,725,325 |  |  | $ | 3.28 |  |  |  | 6.5 |  |  | $ | 146,864,184 |
Vested and Exercisable at December 31, 2015 |  |  | 15,461,986 |  |  | $ | 1.86 |  |  |  | 5.5 |  |  | $ | 131,523,505 |
Unvested at December 31, 2015 |  |  | 5,263,339 |  |  | $ | 7.46 |  |  |  | 9.4 |  |  | $ | 15,340,679 |

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