STOCK OPTIONS (Tables)

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock option activity

The following table summarizes stock option activity during the three months ended March 31, 2016:

	Number of Options	Weighted-Average Exercise Price
Outstanding at January 1, 2016	1,107,794	$	3.45
Granted	14,000	1.07
Outstanding at March 31, 2016	1,121,794	$	3.42
Exercisable at March 31, 2016	468,451	$	5.25

Summary of SARs activity

The following table summarizes SARs activity under the Plan during the three months ended March 31, 2016:

	Number of SARs	Weighted-Average Exercise Price
Outstanding at January 1, 2016	98,333	$	4.14
Outstanding at March 31, 2016	98,333	$	4.14
Exercisable at March 31, 2016	76,333	$	4.22