SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

SHARE BASED COMPENSATION [Abstract]

Schedule of assumptions used to estimate the fair value of the options

			Weighted average
	Average risk-free		expected option			Dividend
	rate of return		life	Volatility rate		yield
Granted in 2014		1.63-1.76%	4.5 years		169.77-173.01%		0	%
Granted in 2015		1.36-1.76%	3.2 years		140.01-146.02%		0	%
Granted in 2016		1.00-1.52%	3.2 years		119.83-146.29%		0	%

Summary of the option activity

					Weighted
			Weighted		Average		Aggregate
	Number of		Average		Remaining		Intrinsic
	Options		Exercise Prices		Contractual Life		Value
Options
Outstanding on January 1, 2016		5,947,000		0.74		2.14		-
Granted		825,000		0.74				-
Exercised		-		-
Forfeited		(687,000)		0.74
Outstanding on December 31, 2016		6,085,000		0.74		1.75		-
Vested or expected to vest at December 31, 2016		5,966,260		0.74		1.48		-
Exercisable at December 31, 2016		3,313,600		0.74		0.67		-

Schedule of summary of the RSUs

			Weighted
	Number of		Average
	shares			Grant Date Fair Value
RSUs
Unvested on January 1, 2016		137,500		1.36
Granted		280,000		0.63
Vested		(137,500)		1.36
Unvested on December 31, 2016		280,000		0.63