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LOSS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following table presents the shares used in the basic and diluted loss per common share computations:
 
 
 
 
 
 
 
 
 
From
 
 
 
Year Ended
 
April 23, 2002
 
 
 
December 31,
 
(Inception) To
 
 
 
2013
 
2012
 
December 31, 2013
 
Numerator:
 
 
 
 
 
 
 
 
 
 
Net loss available in basic and diluted calculation
 
$
(9,406,304)
 
$
(7,422,155)
 
$
(28,697,415)
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding-basic
 
 
151,958,618
 
 
69,587,814
 
 
18,952,512
 
 
 
 
 
 
 
 
 
 
 
 
Effect of dilutive stock options and warrants (1)
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding-diluted
 
 
151,958,618
 
 
69,587,814
 
 
18,952,512
 
 
 
 
 
 
 
 
 
 
 
 
Loss per common share-basic and diluted
 
$
(0.06)
 
$
(0.11)
 
$
(1.51)
 
 
(1) The number of shares underlying options and warrants outstanding as of December 31, 2013 and December 31, 2012 are 63,583,227 and 47,795,702, respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.