Quarterly report pursuant to sections 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

v2.4.0.8
STOCKHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Status of outstanding stock warrants
A summary of the status of the Company's outstanding stock warrants and changes during the period then ended is as follows:

  
 
Number of Warrants
   
Weighted Average Exercise Price
   
Weighted Average Remaining Contractual Life (Years)
 
Balance at December 31, 2012
   
199,162
   
$
7.02
     
6.52
 
Granted
   
502,404
     
6.50
     
3.00
 
Cancelled
   
-
     
-
     
-
 
Forfeited
   
(73,077)
     
6.50
     
8.92
 
Exercised
   
-
     
-
     
-
 
Balance at June 30, 2013
   
628,489
   
$
6.68
     
5.34
 
                         
Warrants exercisable at June 30, 2013
   
600,284
   
$
6.69
         
Weighted average fair value of warrants granted during the period ended
         
$
6.50
         
Summary of stock options
A summary of the stock options as of June 30, 2013 and changes during the period are presented below:

   
Number of Options
   
Weighted Average Exercise Price
   
Weighted Average Remaining Contractual Life (Years)
 
Balance at December 31, 2012
   
153,846
     
6.50
     
9.87
 
Granted
   
423,077
     
6.95
     
5.29
 
Exercised
   
-
     
-
     
-
 
Forfeited
   
-
     
-
     
-
 
Cancelled
   
(105,769)
     
11.05
     
4.70
 
Balance outstanding at June 30, 2013
   
471,154
   
$
5.89
     
7.81
 
                         
Options exercisable at end of period
   
54,487
   
$
7.3
         
Options expected to vest
   
416,667
                 
Weighted average fair value of options granted during the period
         
$
4.42