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LOSS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2014
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:
 
 
 
Year Ended
 
 
 
December 31,
 
 
 
2014
 
2013
 
Numerator:
 
 
 
 
 
 
 
Net loss available in basic and diluted calculation
 
$
(6,833,568)
 
$
(9,406,304)
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding-basic
 
 
2,990,471
 
 
2,026,115
 
 
 
 
 
 
 
 
 
Effect of dilutive stock options and warrants (1)
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding-diluted
 
 
2,990,471
 
 
2,026,115
 
 
 
 
 
 
 
 
 
Loss per common share-basic and diluted
 
$
(2.29)
 
$
(4.64)
 
 
(1) The number of shares underlying options and warrants outstanding as of December 31, 2014 and December 31, 2013 are 949,323 and 847,777, 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.