LONG-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2015

LONG-TERM INVESTMENTS [Abstract]

Schedule of long-term investments

	As of December 31,
	2014		2015
Cost method investments	$	-	$	-
Equity method investments		-		2,003,615
Available-for-sale securities (Note 3)		-		2,769,194
	$	-	$	4,772,809