NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

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

Our notes payable consisted of the following:

		June 30,		December 31
		2019		2018
8.5% Notes	$	1,106,000	$	6,849,000
Unamortized debt discount		–		(1,575,094)
		1,106,000		5,273,906
Less: Current portion		(1,106,000)		(5,273,906)
Long-term portion	$	–	$	–

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [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