Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

v2.4.0.8
STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2014
Stockholders' Equity Note [Abstract]  
Schedule Of Common Stock And Warrants Issued For Services [Table Text Block]
Nine months ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
# of shares/warrants
 
Per share/warrant Value
 
Total Value
 
1 - warrants
 
 
51,250
 
$
1.66
 
$
85,200
 
2 - shares
 
 
110,264
 
$
3.22
 
$
354,617
 
 
1 Warrants valued using Black-Scholes
2 Shares valued using Market value approach
Schedule of Share Based Payment Award, Warrants, Valuation Assumptions [Table Text Block]
The warrants issued for services in 2014 had the following assumptions:
 
 
 
September 30, 2014
 
Common stock closing price
 
$
2.65
 
Expected life (in years)
 
 
5.5
 
Expected volatility
 
 
81.20
%
Call option value
 
$
1.66
 
Risk-free interest rate
 
 
1.78
%
Dividends
 
 
0.00
%