Quarterly report pursuant to Section 13 or 15(d)

10. STOCK-BASED COMPENSATION (Tables)

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10. STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2015
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, 2014     6,470,000     $ 2.70                  
Granted     370,000     $ 1.66                  
Exercised     –       –                  
Forfeited     (90,556 )   $ 2.82                  
Expired     –       –                  
Outstanding - June 30, 2015     6,749,444     $ 2.64       9.42     $ –  
                                 
Total exercisable - June 30, 2015     4,178,991     $ 2.67       9.42     $ –  
Total unvested - June 30, 2015     2,570,453     $ 2.59       9.41     $ –  
Total vested or expected to vest - June 30, 2015     6,749,444     $ 2.64       9.42     $ –  
NONVESTED STOCK OPTIONS
    Number of Shares     Weighted Average
Fair Value
Per Share on
Grant Date 		 
             
Unvested stock options - December 31, 2014     3,421,131     $ 2.31  
Granted     370,000       1.35  
Vested     (1,130,122 )     2.28  
Forfeited     (90,556 )     2.50  
Unvested stock options - June 30, 2015     2,570,453     $ 2.20