STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2016

STOCKHOLDERS' EQUITY (Tables) [Line Items]

Share-based expense [Table Text Block]

Share-based compensation expense consisted of the following:

		Year ended December 31,
		2016		2015
Employee stock options	$	3,346,692	$	1,500,783
Consulting services warrants		150,165		77,918
DB Option Agreement warrants		55,100		–
Stock awards (see Note 7)		200,355		3,839,971
	$	3,752,312	$	5,418,672

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following summarizes Employee Awards activity:

	Number of Shares		Weighted-average Exercise Price per Share	Weighted-average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2014	–
Granted	2,662,000	$	1.54
Forfeited or expired	(153,000)		2.39
Outstanding at December 31, 2015	2,509,000		1.49
Granted	6,826,000		0.87
Exercised	(153,000)		1.00
Forfeited or expired	(363,600)		0.97
Outstanding at December 31, 2016	8,818,400		1.04	2.6	$	19,191,000
Exercisable at December 31, 2016	1,985,500	$	1.50	2.1	$	3,480,675

	Number of Shares		Weighted-average Exercise Price per Share	Weighted-average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2014	150,000		4.40
Granted	127,500	$	2.40
Forfeited or expired	(25,000)		2.10
Outstanding at December 31, 2015	252,500		3.62
Granted	55,000		1.01
Forfeited or expired	(150,000)		4.40
Outstanding at December 31, 2016	157,500		1.96	2.0	$	211,350
Exercisable at December 31, 2016	157,500	$	1.96	2.0	$	211,350

	Number of Shares		Weighted-average Exercise Price per Share	Weighted-average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2014	642,700		4.44
Granted	554,500	$	1.13
Cancelled	(600,000)		4.40
Outstanding at December 31, 2015	597,200		1.41
Granted	9,759,000		0.58
Exercised	(1,330,357)		0.53
Outstanding at December 31, 2016	9,025,843		0.63	2.9	$	26,630,710
Exercisable at December 31, 2016	9,025,843	$	0.63	2.9	$	26,630,710

Employee Awards

STOCKHOLDERS' EQUITY (Tables) [Line Items]

Schedule of Assumptions Used [Table Text Block]

The following summarizes the Black-Scholes assumptions used for Employee Awards:

		Year ended December 31,
		2016		2015
Exercise price	$	0.61 – 3.20	$	0.60 – 3.75
Stock price on date of grant	$	0.63 – 3.20	$	0.55 – 3.75
Volatility		146 – 153 %		151 – 169 %
Risk-free interest rate		0.7 – 1.9 %		0.9 – 2.5 %
Expected life (years)		3.0 – 5.0		3.0 – 10.0
Dividend yield		–		–

		Year ended December 31,
		2016		2015
Exercise price	$	0.60 – 1.20	$	0.60 – 3.75
Stock price, date of valuation	$	1.91 – 2.33	$	0.52 – 0.89
Volatility		146 – 163 %		150 – 157 %
Risk-free interest rate		0.8 – 1.3 %		1.1 – 1.3 %
Expected life (years)		2.0 – 4.8		2.0 – 3.0
Dividend yield		–		–

Stock price on date of grant	$ 0.61
Volatility	150 %
Risk-free interest rate	1.2 %
Expected life (years)	5.0
Dividend yield	–

Volatility	134 %
Risk-free interest rate	1.0 %
Expected life (years)	3.0
Dividend yield	–

		Year ended December 31,
		2016		2015
Volatility	$	148 – 158 %	$	125 – 132 %
Risk-free interest rate	$	0.8 – 1.2 %	$	0.4 – 0.5 %
Expected life (years)		1.1 – 5.0		1.5
Dividend yield		–		–