Quarterly report pursuant to Section 13 or 15(d)

10. STOCK-BASED COMPENSATION (Tables)

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10. STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contract Term (Years)     Aggregate Intrinsic Value  
Outstanding - December 31, 2015     9,799,036     $ 1.97       9.20     $ –  
Granted     –       –       –       –  
Exercised     –       –       –       –  
Forfeited     (76,036 )     2.82       –       –  
Expired     –       –       –          
Outstanding - March 31, 2016     9,723,000       1.97       8.96       159,800  
                                 
Total exercisable - March 31, 2016     7,337,346       2.10       8.91       124,550  
Total unvested - March 31, 2016     2,385,654       1.56       9.11       32,250  
Total vested or expected to vest - March 31, 2016     9,723,000       1.97       8.96       159,800  
Nonvested Stock Option Activity
    Number of Shares     Weighted Average Fair Value Per Share on Grant Date  
Unvested stock options - December 31, 2015     2,511,055     $    1.37  
Granted     –       –  
Vested     (125,401 )     2.44  
Cancellations     –       –  
Unvested stock options - March 31, 2016     2,385,654       1.31