Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

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STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2015
Stockholders Equity Tables  
Status of outstanding stock warrants
    Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Life  
Balance at December 31, 2014     1,926,308     $ 4.10       1.55  
Granted     100,000     $ 7.44       4.84  
Cancelled     -       -       -  
Forfeited     -       -       -  
Exercised     5,000     $ 3.75       1.09  
Balance at March 31, 2015     2,021,308       4.27       1.48  
                         
Warrants exercisable at March 31, 2015     2,021,308                  
Weighted average fair value of warrants granted during the period           $ 3.19          
Summary of stock options
    Number of Options     Weighted Average Exercise Price     Weighted Average Remaining Life  
Balance at December 31, 2014     3,017,690     $ 4.64       7.77  
Granted     65,000     $ 6.92       4.93  
Cancelled     -     $ -       -  
Forfeited     418,349     $ 5.71       9.19  
Exercised     -     $ -       -  
Balance at March 31, 2015     2,664,342     $ 4.52       7.16  
                         
Options Exercisable at March 31, 2015     1,239,781                  
Options expected to vest     1,424,560                  
Weighted average fair value of options granted during the period           $ 2.12