Quarterly report pursuant to sections 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

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STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Status of outstanding stock warrants
    Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (Years)  
Balance at December 31, 2013     708,260     $ 6.66       2.74  
Granted     -       -       -  
Cancelled     (23,077)       -       -  
Forfeited     -       -       -  
Exercised     -       -       -  
Balance at March 31, 2014     685,183     $ 6.66       2.31  
                         
Warrants exercisable at March 31, 2014     678,773     $ 6.67          
Weighted average fair value of warrants granted during the period ended           $ -          
Summary of stock options
    Number of Options     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (Years)  
Balance at December 31, 2013     1,338,076       5.83       5.21  
Granted     -       -       -  
Exercised     -       -       -  
Forfeited     (190,384     5.90       -  
Cancelled     -       -       -  
Balance outstanding at March 31, 2014     1,147,692     $ 5.85       4.61  
                         
Options exercisable at March 31, 2014     242,580     $ 6.13          
Options expected to vest     905,112                  
Weighted average fair value of options granted during the period           $ -