STOCK-BASED EMPLOYEE COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

STOCK-BASED EMPLOYEE COMPENSATION [Abstract]

Assumptions used in estimating fair values of options granted

The fair values of options granted were estimated on the date of grant using the Black-Scholes Merton option pricing model based on the assumptions included in the table below. The fair value of the Company’s stock option awards is charged to expense over the vesting life of the underlying stock options using the straight line method. Expected volatility is based on the historical volatility of the Company’s common stock. The risk-free interest rate for periods within the contractual life of the stock option award is based on the yield of U.S. Treasury bonds on the grant date with a maturity equal to the expected term of the stock option. The expected life of stock option awards granted to employees and non-employee directors is based upon the “simplified” method for “plain vanilla” options described in SEC Staff Accounting Bulletin No. 107, as amended by SEC Staff Accounting Bulletin No. 110. Forfeiture rates are based on management’s estimates.

	Year ended December 31, 2014		Year ended December 31, 2013
Expected volatility		79%		84%
Expected dividend yield		0.00%		0.00%
Weighted average risk-free interest rate		1.81%		1.05%
Expected life	5.50 years		5.50 years
Forfeiture rate		0%		0%

Summary of activity under stock option plans

The following table summarizes activity under the Company’s stock option plans for the years ended December 31, 2014 and, 2013:

	Shares (In thousands)			Weighted Average Exercise Price			Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2012		—		$	—
Granted		919			0.28
Exercised		—			—
Forfeited, cancelled or expired		(14	)		(0.54	)
Outstanding at December 31, 2013		905		$	0.28
Granted		865			1.44
Exercised		(78	)		(0.30	)
Forfeited, cancelled or expired		(189	)		(1.01	)
Outstanding at December 31, 2014		1,503		$	0.85			8.0	$	338
Exercisable at December 31, 2014		817		$	0.68			7.2	$	236