DEBT (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Notes Payable

		September 30, 2018		December 31, 2017
8.5% Notes	$	6,896,000	$	–
Unamortized debt discount		(2,794,979)		–
12% Notes		–		1,621,250
Unamortized debt discount		–		(443,917)
		4,101,021		1,177,333
Less: Current portion		(4,101,021)		(1,177,333)
Long-term portion	$	–	$	–

Schedule of Assumptions for Determining Debt Discount [Table Text Block]

For purposes of determining the debt discount, the underlying assumptions used in the binomial lattice model to determine the fair value of the 8.5% Warrants as of April 2018, were:

Current stock price	$  4.18
Exercise price	$  2.35
Risk-free interest rate	2.46 %
Expected dividend yield	–
Expected term (in years)	2.0
Expected volatility	134%
Number of iterations	5