DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2015

Series D Preferred Stock Derivative Liability [Member]

Derivative Financial Instruments [Line Items]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The Series D Preferred Stock derivative liability was valued using the Binomial Lattice options pricing model. The assumptions used at December 31, 2015 were as follows:

	December 31, 2015
Face value of Series D Preferred Stock	$	10,000
Conversion price	$	2.50
Dividend period (in years)		6.50
Dividend yield		15.00	%

Warrant [Member]

Derivative Financial Instruments [Line Items]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The assumptions used during the years ended December 31, 2015 and 2014 are as follows:

	2015			2014
Fair value of common stock		$ 0.73 – 1.18		$	4.11
Expected life (in years based on the term of the warrants)		4.58			2.03-2.08
Risk-free interest rate		1.33% - 1.66	%		0.46%-0.52	%
Expected volatility		91.55% - 93.16	%		74.8	%
Dividend yield		0.00	%		0.00	%