STOCK OPTIONS (Tables)

9 Months Ended

Sep. 30, 2014

Stock Options Tables

Assumption used for stock option granted

	2014			2013
Risk-free interest rate		1.75% – 2.08	%		0.13% - 1.89	%
Expected dividend yield		—			—
Expected term	5.5 - 6.5 years			1.0 - 6.5 years
Forfeiture rate (excluding fully vested Stock Options)		15	%		15	%
Expected volatility		120% - 141	%		129% - 141	%

Stock option activity

Stock Options	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding options at January 1, 2014		1,455,432		$	4.90
Granted		187,950		$	3.08
Exercised		—		$	—
Forfeited or expired		(905,228	)	$	4.19
Outstanding options at September 30, 2014		738,154		$	5.32	7.66 years	$	—
Exercisable options at September 30, 2014		328,422		$	8.02	5.75 years	$	—