Quarterly report pursuant to Section 13 or 15(d)

10. STOCK-BASED COMPENSATION (Tables)

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10. STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 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     2,925,000     $ 0.85                  
Exercised     –       –                  
Forfeited     (126,668 )   $ 2.60                  
Expired     (9,444 )   $ 2.82                  
Outstanding - September 30, 2015     9,258,888     $ 2.12       9.39     $           –  
                                 
Total exercisable - September 30, 2015     6,152,791     $ 2.20       9.36     $ –  
Total unvested - September 30, 2015     3,106,097     $ 1.94       9.45     $ –  
Total vested or expected to vest - September 30, 2015     9,258,888     $ 2.12       9.39     $ –  
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     2,925,000       0.62  
Vested     (3,113,366 )     1.41  
Forfeited     (126,668 )     2.29  
Unvested stock options - September 30, 2015     3,106,097     $ 1.64