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STOCK-BASED COMPENSATION PLAN (Tables)

9 Months Ended

Sep. 30, 2015

Employee Stock Option [Member]

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, 2015			733,333		$	3.05			0.62
Exercisable at January 1, 2015			733,333			3.05			0.62
Granted			-			-			-
Exercised			-			-			-
Forfeited			733,333			-			-
Outstanding at September 30, 2015			-			-			-
Exercisable at September 30, 2015			-		$	-			-

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, 2015			80,000		$	3.83			0.31
Exercisable at January 1, 2015			80,000			3.83			0.31
Granted			-			-			-
Exercised			-			-			-
Forfeited			40,000			-			-
Outstanding at September 30, 2015			40,000			2.98			0.02
Exercisable at September 30, 2015			40,000		$	2.98			0.02

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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