WARRANTS (Tables)

12 Months Ended

Dec. 31, 2015

WarrantsTableTextBlockAbstract

Warrants assumptions utilized by the Company

	2015		2014
Risk-free interest rate %		1.26 - 1.75		1.57 - 1.77
Expected dividend yield		—		—
Expected term in years (contractual term)		5		5
Forfeiture rate %		—		—
Expected volatility %		89 - 99		78 - 102

Outstanding Warrants

Type of Warrant/ Range of Exercise Prices		Expirations	Number Outstanding		Weighted- Average Remaining Contractual Life (years)		Weighted- Average Exercise Price		Number Exercisable
Derivative :
$	7.50	8/31/17 to 11/6/17		700,000		1.72	$	7,70		700,000
Equity:
$	2.75 - $3.00	12/10/18 to 10/30/20		3,830,428		4.19	$	2.98		3,830,428
Total outstanding				4,530,428						4,530,428

Warrant Activity

Warrants	Shares			Weighted- Average Exercise Price
Outstanding at December 31, 2013		1,209,211		$	17.92
Granted		927,610		$	2.98
Forfeited or expired		(289,755	)	$	20.33
Outstanding at December 31, 2014		1,847,066		$	10.04
Granted		2,721,000		$	3.00
Forfeited or expired		(37,638	)	$	22.50
Outstanding at December 31, 2015		4,530,428		$	3.68