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STOCK-BASED COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Option Activity

The following table summarizes activity for employees in the Company’s Plan:

								Weighted
								Average
					Average			Remaining
		Number of			Exercise			Contractual
		Shares			Price per Share			Term in Years
Outstanding at January 1, 2013			3,733,333		$	1.36			1.09
Exercisable at January 1, 2013			3,733,333			1.36			1.09
Granted			-			-			-
Exercised			2,650,000			0.80			-
Forfeited			60,000			-			-
Outstanding at December 31, 2013			1,023,333		$	2.85			1.40
Exercisable at December 31, 2013			1,023,333			2.85			1.40
Granted			-			-			-
Exercised			-			-			-
Forfeited			290,000			-			-
Outstanding at December 31, 2014			733,333			3.05			0.62
Exercisable at December 31, 2014			733,333		$	3.05			0.62

Independent Directors Compensation Plan [Member]

Summary of Option Activity

The following table summarizes option activity with respect to the independent directors:

								Weighted
								Average
					Average			Remaining
		Number of			Exercise			Contractual
		Shares			Price per Share			Term in Years
Outstanding at January 1, 2013			210,000		$	2.60			2.05
Exercisable at January 1, 2013			210,000			2.60			2.05
Granted			-			-			-
Exercised			10,000			1.85			-
Forfeited			-			-			-
Outstanding at December 31, 2013			200,000			2.64			1.05
Exercisable at December 31, 2013			160,000			2.64			0.74
Granted			-			-			-
Exercised			60,000			1.85			-
Forfeited			60,000			-			-
Outstanding at December 31, 2014			80,000			3.83			0.31
Exercisable at December 31, 2014			80,000		$	3.83			0.31

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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- Details

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