EQUITY PLANS AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation cost by line item

The share-based compensation expense recognized in the Condensed Consolidated Statements of Operations was as follows:

	For the three months ended March 31,
	2017		2016
Share-based compensation cost included in:
Research and development	$	16,611	$	45,689
Selling, general and administrative	63,126		172,149
Total share-based compensation cost	$	79,737	$	217,838

Share-based compensation cost by award type

The following table presents share-based compensation expense by type:

	For the three months ended March 31,
	2017		2016
Type of Award:
Stock Options	$	53,408	$	95,384
Restricted Stock Units and Awards	26,329		122,454
Total share-based compensation cost	$	79,737	$	217,838

Share-based compensation fair value assumptions

Fair value was calculated using the Black-Scholes Model with the following assumptions:

	For the three months ended March 31,
	2017	2016
Expected volatility	114%	114%
Risk free interest rate	1%	1%
Expected dividends	—	—
Expected life (in years)	6.0	5.8