STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

Stock Based Compensation Tables

Schedule of Stock option activity

Stock option activity for the nine months ended September 30, 2013 is summarized as follows:

	Shares			Weighted Average Exercise Price			Weighted Average Remaining Contractual Life (in Years)		Grant Date Fair Value
Outstanding at December 31, 2012		2,939,167		$	5.70			6.50	$	1,144,024
Options granted		711,667			2.46			8.81		420,796
Options forfeited		(185,000	)		(1.19	)		-		(89,080	)
Options exercised		(405,000	)		(.68	)		-		(148,577	)
Outstanding at September 30, 2013		3,060,834		$	5.89			6.32	$	1,327,163
Vested at September 30, 2013		2,268,334		$	6.97			5.45	$	722,143
Exercisable at September 30, 2013		2,268,334		$	6.97			5.45	$	722,143

Schedule of Stock warrant activity

A summary of the Company’s stock warrant activity and related information for the nine months ended September 30, 2013 is as follows:

	Shares			Weighted Average Exercise Price			Weighted Average Remaining Contractual Life (in Years)		Grant Date Fair Value
Outstanding at December 31, 2012		1,163,308		$	12.37			0.40	$	128,889
Warrants exercised		(628,000	)		(1.65	)		-		(94,504	)
Warrants cancelled/forfeited/expired		(524,975	)		(25.38	)		-		(30,029	)
Warrants at September 30, 2013		10,333		$	2.42			1.90	$	4,356
Vested at September 30, 2013		4,083		$	3.43			1.74	$	1,556
Exercisable at September 30, 2013		4,083		$	3.43			1.74	$	1,556