STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following table presents the additions to the 2010 Plan since inception:

	Number of
January 1,	shares
2012		450,275
2013		516,774
2014		742,973
2015		983,362
Total additional shares		2,693,384

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

Stock-based compensation expense was included in the following captions in the condensed consolidated statements of operations for the periods shown:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Selling expenses	$	13,100	$	25,911	$	45,399	$	41,837
Research and development expenses		24,820		10,139		43,790		14,766
General and administrative expenses		167,192		131,484		296,551		341,112
	$	205,112	$	167,534	$	385,740	$	397,715

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table presents information concerning stock option grants for the six months ended June 30, 2015:

				Executives &
	Employees			Officers
				January –
Date of Grant	January – June 2015			June 2015
Fair value of common stock on date of grant	$	1.19 – 1.59		$	1.21 – 1.59
Exercise price of the options	$	1.40 – 1.88		$	1.44 – 1.88
Expected life of the options (years)		6.03 – 6.13			6.06 – 6.11
Dividend yield		0.00	%		0.00	%
Expected volatility		110.8 – 115.0	%		111.3 – 113.5	%
Risk-free interest rate		1.64 – 1.79	%		1.72 – 1.74	%
Expected forfeiture per year (%)		10.00	%		10.00	%
Weighted average fair value of the options per unit	$	1.50		$	1.46

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Options issued and outstanding as of June 30, 2015 and their activities during the six months then ended are as follows:

					Weighted-
						Average
			Weighted-			Contractual
			Average			Life
	Number of		Exercise			Remaining
	Underlying		Price Per			in		Aggregate
	Shares		Share			Years		Intrinsic Value
Outstanding as of January 1, 2015		3,675,634	$	2.86				$	344,000
Granted		1,145,822		1.71					-
Forfeited		(509,047)		2.06					63,223
Exercised		-		-					-
Outstanding as of June 30, 2015		4,312,409		2.65			8.03	$	39,400
Exercisable as of June 30, 2015		1,734,948		3.89			6.37	$	-
Vested and expected to vest (1)		3,929,771	$	2.74			7.90	$	33,255

⁽¹⁾ vested shares and unvested shares after a forfeiture rate is applied