STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

Stock Based Compensation Tables

Schedule of Stock option activity

Stock option activity for the three months ended March 31, 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 exercised		(35,000	)		(1.13	)		-		(23,149	)
Outstanding at March 31, 2013		2,904,167		$	5.76			6.25	$	1,120,875
Vested at March 31, 2013		2,255,417		$	6.87			5.71	$	692,822
Exercisable at March 31, 2013		2,255,417		$	6.87			5.71	$	692,822

Schedule of Stock warrant activity

A summary of the Company’s stock warrant activity and related information for the three months ended March 31, 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		(175,000	)		(1.46	)		-		(25,075	)
Warrants cancelled/forfeited/expired		(40,554	)		(0.10	)		-		(2,433	)
Warrants at March 31, 2013		947,754		$	14.91			0.66	$	101,381
Vested at March 31, 2013		935,254		$	15.08			0.63	$	95,781
Exercisable at March 31, 2013		935,254		$	15.08			0.63	$	95,781