STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Selling expenses	$	29,374	$	26,755	$	74,773	$	68,592
Research and development expenses		32,124		15,997		75,914		30,763
General and administrative expenses		256,488		104,647		553,039		445,759
	$	317,986	$	147,399	$	703,726	$	545,114

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

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

				Executives &
	Employees			Officers
				January –
Date of Grant	January – September 2015			September 2015
Fair value of common stock on date of grant	$	0.76 – 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		107.1 – 115.0	%		111.3 – 113.5	%
Risk-free interest rate		1.64 – 1.81	%		1.72 – 1.74	%
Expected forfeiture per year (%)		10.00	%		10.00	%
Weighted average fair value of the options per unit	$	0.82		$	1.46

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

Options issued and outstanding as of September 30, 2015 and their activities during the nine 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	1,640,822		1.53			-
Forfeited/canceled	(559,047)		2.01			63,223
Expired	(350,000)
Exercised	-		-			-
Outstanding as of September 30, 2015	4,407,409		2.31	8.6	$	500
Exercisable as of September 30, 2015	1,618,524		3.38	7.9	$	-
Vested and expected to vest (1)	4,047,912	$	2.37	8.6	$	406

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