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STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2014

STOCKHOLDERS' EQUITY [Abstract]

Schedule of Warrant Activity

		2014								2013
						Weighted								Weighted
						Average								Average
						Exercise								Exercise
		Warrants				Price				Warrants				Price
Outstanding January 1			6,875,586			$	4.64				2,255,692			$	4.34
Granted during the year			100,000				1.56				8,342,064				2.82
Exercised/transferred			(80,645	)			3.10				(3,472,170	)			0.04
Lapsed/terminated			(328,556	)			2.91				(250,000	)			5.10
Outstanding at December 31			6,566,385			$	4.70				6,875,586			$	4.64
Exercisable  at December 31			6,535,274			$	4.71				6,742,253			$	4.64
Weighted average months remaining							40.0								49.8

Summary of Stock Option Activity Under Stock Option and Incentive Plans

		2014												2013
		Number of Options				Weighted Average Exercise Price				Weighted Average Life Remaining				Number of Options				Weighted Average Exercise Price				Weighted Average Life Remaining
										(in years)												(in years)
Outstanding at January 1:			4,073,898				3.25								-
Transferred			-				-								1,980,898				3.65
Granted			1,172,197				1.96								2,150,000				2.89
Exercised			-				-								(20,000	)			1.86
Lapsed/terminated			(317,804	)			3.56								(37,000	)			6.31
Outstanding at December 31:			4,928,291				2.92				4.0				4,073,898				3.25				5.7
Exercisable at December 31:			2,806,696				2.94				5.0				1,718,024				3.25				4.3
Expected to vest at December 31:			1,660,169				2.46				5.8				1,905,874				2.95				7.8
Aggregate intrinsic value of outstanding options at December 31:		$	-											$	104,700
Aggregate intrinsic value of exercisable options at December 31:		$	-											$	37,365
Aggregate intrinsic value of options expected to vest at December 31:		$	-											$	67,335

Schedule of Assumptions Used to Compute the Share-based Compensation Expense for Stock Options and Warrants

		2014				2013
Volatility			67.1	%			60.9	%
Expected option term			3.5years				5.7years
Risk-free interest rate			0.9	%			1.6	%
Expected forfeiture rate			0.0	%			0.0	%
Expected dividend yield			0.0	%			0.0	%

Summary of Restricted Stock

		Shares				Weighted- average Grant Date Fair Value
Restricted shares outstanding, December 31, 2012			61,764			$	3.33
Restricted shares granted			-				-
Restricted shares vested			(20,588	)			3.33
Restricted shares outstanding, December 31, 2013			41,176			$	3.33
Restricted shares granted			243,750				0.48
Restricted shares vested			(20,588	)			3.33
Restricted shares outstanding, December 31, 2014			264,338			$	0.70

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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