Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION (Tables)

v2.4.0.8
SHARE BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The assumptions used in the valuation of stock options granted during the six months ended June 30, 2014 and 2013 were as follows:
 
 
 
Six Months
Ended
June 30,
2014
 
 
Six Months
Ended
June 30,
2013
 
Risk-free interest rate
 
 
2.19% to 2.27%
 
 
 
2.02
%
Expected term of option
 
 
6.0 years
 
 
 
6.0 years
 
Expected stock price volatility
 
 
97.56% to 100.73%
 
 
 
99.96
%
Expected dividend yield
 
$
0.0
 
 
$
0.0
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the stock option activity and related information for the Plans for the six months ended June 30, 2014 is as follows:
  
 
 
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate Intrinsic
Value
 
Outstanding at January 1, 2014
 
376,500
 
$
18.09
 
8.81
 
$
 
 
Grants
 
528,600
 
$
11.84
 
9.85
 
$
 
 
Exercised
 
-
 
 
 
 
 
 
 
 
 
Forfeitures or expirations
 
-
 
 
 
 
 
 
 
 
 
Outstanding at June 30, 2014
 
905,100
 
$
14.44
 
9.21
 
$
2,532,527
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested and expected to vest at June 30, 2014
 
905,100
 
$
14.44
 
9.21
 
$
2,532,527
 
Exercisable at June 30, 2014
 
204,833
 
$
20.27
 
8.23
 
$
417,767