Annual report pursuant to section 13 and 15(d)

10. STOCK OPTIONS (Tables)

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10. STOCK OPTIONS (Tables)
12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
Schedule of stock options outstanding
    Year Ended December 31, 2012     Year Ended December 31, 2011  
    Shares    

Weighted

Average

Exercise

Price

    Shares    

Weighted

Average

Exercise

Price

 
Outstanding at beginning of period     83,378     $ 3.33       83,378     $ 3.33  
Forfeited     -     $ -       -       -  
Granted     506,559     $ 9.60       -       -  
Outstanding at end of period and expected to vest     589,937     $ 8.71       83,378     $ 3.33  
Options exercisable     175,022     $ 6.67       80,282     $ 3.38  
Weighted-average fair value of options granted during the period           $ 6.82             $ -  
Stock-based compensation expense
    2012     2011  
Research and development   $ 101,606     $ 891  
General and administrative     525,181       22,056  
Total stock-based compensation expense   $ 626,787     $ 22,947