Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION (Tables)

v2.4.0.8
SHARE BASED COMPENSATION (Tables)
9 Months Ended
Sep. 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 nine months ended September 30, 2014 and 2013 were as follows:
 
 
 
Nine Months
 
 
Nine Months
 
 
 
Ended
 
 
Ended
 
 
 
September 30,
 
 
September 30,
 
 
 
2014
 
 
2013
 
Risk-free interest rate
 
 
2.19% to 2.52
%
 
 
2.02
%
Expected term of option
 
 
6.0  to 9.72 years
 
 
 
6.0 years
 
Expected stock price volatility
 
 
94.57% 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 nine months ended September 30, 2014 is as follows:
  
 
 
 
 
 
Weighted-
 
 
 
 
 
 
Weighted-
 
Average
 
 
 
 
 
 
Average
 
Remaining
 
Aggregate Intrinsic
 
 
 
Shares
 
Exercise Price
 
Contractual Term
 
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 September 30, 2014
 
 
905,100
 
$
14.44
 
 
8.96
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested and expected to vest at September 30, 2014
 
 
905,100
 
$
14.44
 
 
8.96
 
$
-
 
Exercisable at September 30,
2014
 
 
236,208
 
$
19.98
 
 
7.99
 
$
-