SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2014

SCHEDULE OF VALUATION ASSUMPTION [Table Text Block]

Expected volatility	73%
Expected dividend	0%
Expected terms (in year)	1
Risk-free rate	0.12%

SCHEDULE OF OPTIONS ISSUED AND OUTSTANDING [Table Text Block]

				Weighted-
	Number of			Average		Aggregate	Weighted- Average
	Underlying			Exercise Price		Intrinsic	Contractual Life
	Shares			Per Share		Value (1)	Remaining in Years
Outstanding at January 1, 2013	150,000		$	3.50		-	2.25
Granted	75,000		$	0.28		96,750	3.08
Exercised	-			-		-	-
Expired	-			-		-	-
Forfeited						-
Outstanding at December 31, 2013	225,000		$	2.61	$	96,750	1.86
Granted	-			-		-	-
Exercised	-			-		-	-
Expired	(25,000	)	$	0.44		-	-
Forfeited	-			-		-	-
Outstanding at June 30, 2014	200,000		$	2.50	$	108,750	1.36
Exercisable at June 30, 2014	200,000		$	2.50	$	108,750	1.36

SCHEDULE OF RESTRICTED SHARES VEST [Table Text Block]

Number of Shares	Vesting Date
25,000	December 31, 2010
25,000	June 30, 2011
25,000	December 31, 2011
25,000	June 30, 2012
20,000	November 26, 2012
25,000	December 31, 2012
25,000	June 30, 2013
37,500	November 15, 2013
37,500	April15, 2014