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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2015
Accounting Policies [Abstract]  
Schedule of Inventory

 

 

    September 30, 2015     December 31, 2014  
Raw materials and supplies   $ 85,745     $ 181,710  
Work in process      79,885       -  
Finished goods     145,574       84,249  
Total   $ 311,204     $ 265,959  

 

Schedule of Intangible Assets and Goodwill

 

September 30, 2015

 

    Amount    

Accumulated

Amortization

    Net Amount    

Useful Lives

(years)

                         
Patent & Trademarks   $ 417,598     $  47,628     $  369,970     7 - 15
Customer Contracts     611,119        108,096        503,023     10
Sensum+® License (from CRI)     234,545        44,091        190,454     10
Vesele® trademark     25,287        3,097        22,190     10
Novalere Mfg. Contract     4,681,000        302,000        4,379,000     10
 Total   $ 5,969,549     $  504,912     $  5,464,637      

 

December 31, 2014

 

     Amount     Accumulated  Amortization      Net Amount    

Useful Lives

(years)

                             
Patent & Trademarks   $ 264,321     $ 23,671     $ 240,650     7 - 15
Customer Contracts     611,119       62,262       548,857     10
Sensum+® license (from CRI)     272,545       31,250       241,295     10
Vesele® trademark     25,287       717       24,570     10
 Total   $ 1,173,272     $ 117,900     $ 1,055,372      
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

 

    As of September 30,  
    2015     2014  
Gross number of shares excluded:            
Stock units - unvested     4,623,333       1,534,235  
Stock options     164,500       87,500  
Convertible notes     1,359,590       1,055,000  
Warrants issued with 2015 convertible debentures     1,808,333       -  
Warrants     1,630,973       630,973  
Total     9,586,729       3,307,708