STOCKHOLDERS EQUITY (Tables)

6 Months Ended

Jun. 30, 2014

SCHEDULE OF ALLOCATION OF THE PROCEEDS FROM THE PRIVATE PLACEMENT [Table Text Block]

Proceeds of the private placement on June 7, 2010	$	3,524,342
Allocation of proceeds to Series C Warrants to investors		(718,698	)
Allocation of proceeds to beneficial conversion feature		(1,143,198	)
Amortization of discount resulting from the accounting for a beneficial conversion feature		1,143,198
Convertible Series A Preferred Stock (net of fees and expenses) at December 31, 2010		2,805,644
Preferred stock converted into common stock		(85,546	)
Convertible Series A Preferred Stock at December 31, 2011		2,720,098
Preferred stock converted into common stock		(689,392	)
Convertible Series A Preferred Stock at December 31, 2012 and2013	$	2,030,706
Preferred stock converted into common stock		(509,535	)
Convertible Series A Preferred Stock at June 30, 2014	$	1,521,171
Proceeds of the private placement on June 28, 2010	$	2,121,938
Allocation of proceeds to Series C Warrants to investors		(418,668	)
Allocation of proceeds to beneficial conversion feature		(644,532	)
Amortization of discount resulting from the accounting for a beneficial conversion feature		644,532
Convertible Series A Preferred Stock (net of fees and expenses) at December 31, 2010		1,703,270
Preferred stock converted into common stock		(1,052,162	)
Convertible Series A Preferred Stock at December 31, 2011		651,108
Preferred stock converted into common stock		(104,490	)
Convertible Series A Preferred Stock at December 31, 2012		546,618
Preferred stock converted into common stock		(67,141	)
Convertible Series A Preferred Stock at December 31, 2013	$	479,477
Preferred stock converted into common stock		(226,876	)
Convertible Series A Preferred Stock at June 30, 2014	$	252,601