BASIC AND DILUTED INCOME/(LOSS) PER SHARE (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2016

Dec. 31, 2015

Earnings Per Share, Basic and Diluted [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

As of June 30, 2016 and 2015, potentially dilutive securities include:

	Six Months Ended June 30,
	2016		2015
Warrants to purchase common stock		4,455,231		4,455,231
Options to purchase common stock		88,648		-
Total potentially dilutive securities		4,543,879		4,455,231

The following table is a reconciliation of the numerator and denominator used in the calculation of basic and diluted net income/(loss) per share.

	Year Ended December 31,
	2015		2014
Numerator:
Net income/(loss)	$	(11,507,963)	$	7,770,767
Denominator:
Weighted-average shares of common stock outstanding used in the calculation of basic net income/(loss) per share		20,408,616		20,381,554
Effect of dilutive securities:
Warrants to purchase common stock		-		4,428,441
Weighted-average shares of common stock outstanding used in the calculation of diluted net income/(loss) per share		20,408,616		24,809,995