WARRANT LIBILITY (Tables)

12 Months Ended

Dec. 31, 2016

WARRANT LIBILITY [Abstract]

Schedule of Assumptions Used to Estimate Fair Value of Warrants Using the Monte Carlo Simulation

	As September16,			As December 31,			As December 31,
	2014			2015			2016
Stock price	$	7.05		$	8.50		$	3.20
Exercise price	$	30.2		$	30.2		$	30.2
Annual dividend yield		-	%		-	%		-	%
Time to maturity		2.7			1.7			0.7
Risk-free interest rate		0.96	%		0.93	%		0.70	%
Expected volatility		83.0	%		67.2	%		42.9	%

Reconciliation of the Beginning and Ending Balances of Warrants Liability Measured at Fair Value on a Recurring Basis Using Level 2 Inputs

	As December 31,
	2016
Beginning balance	$	577,500
Warrants issued		-
Fair value change of the issued warrants included in earnings		(577,500)
Ending balance	$	-