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STOCK BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 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 automatic additions to the 2010 Plan since inception pursuant to the “evergreen” terms of the 2010 Plan:
 
January 1,
 
Number of
shares
 
2012
 
 
450,275
 
2013
 
 
516,774
 
2014
 
 
742,973
 
2015
 
 
983,362
 
2016
 
 
1,306,290
 
Total additional shares
 
 
3,999,674
 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
 
 
Year Ended December 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
 
 
General and administrative
 
$
747,255
 
$
556,288
 
Research and development
 
 
67,475
 
 
-
 
Selling
 
 
25,373
 
 
-
 
Total stock compensation expense
 
$
840,103
 
$
556,288
 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following table presents information concerning stock option grants for the year ended December 31, 2015:
 
 
 
Employees
 
 
Executives &
Officers
 
 
Directors
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value of common stock on date of grant
 
$
0.79 – 1.59
 
 
$
0.62 – 1.59
 
 
 
$ 0.66 – 1.25
 
Exercise price of the options
 
$
0.96 – 1.88
 
 
$
0.76 – 1.88
 
 
 
$ 0.79 – 1.49
 
Expected life of the options (years)
 
 
5.31 – 6.13
 
 
 
6.06
 
 
 
6.06 – 6.11
 
Dividend yield
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
Expected volatility
 
 
107.78 – 115.00
%
 
 
107.57 – 113.56
%
 
 
105.69 – 111.28
%
Risk-free interest rate
 
 
1.64 – 1.81
%
 
 
1.70 – 1.74
%
 
 
1.72 – 1.81
%
Expected forfeiture per year (%)
 
 
10.00
%
 
 
10.00
%
 
 
10.00
%
Weighted average fair value of the options per unit
 
$
1.25
 
 
$
1.50
 
 
$
0.96
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Options issued and outstanding as of December 31, 2015 and their activities during the year then ended are as follows:
 
 
 
Number of
Underlying
Shares
 
Weighted-
Average 
Exercise 
Price Per 
Share
 
Weighted-
Average 
Contractual 
Life 
Remaining 
in 
Years
 
Aggregate
Intrinsic Value
 
Outstanding as of January 1, 2015
 
 
3,675,634
 
$
2.86
 
 
 
 
 
$
344,000
 
Granted
 
 
1,845,822
 
 
1.43
 
 
 
 
 
 
-
 
Forfeited
 
 
(1,557,512)
 
 
1.78
 
 
 
 
 
 
63,223
 
Expired
 
 
(350,000)
 
 
5.00
 
 
 
 
 
 
-
 
Outstanding as of December 31, 2015
 
 
3,613,944
 
 
2.40
 
 
 
8.40
 
$
-
 
Exercisable as of December 31, 2015
 
 
1,726,781
 
 
3.14
 
 
 
7.80
 
$
-
 
Vested and expected to vest (1)
 
 
3,391,660
 
$
2.45
 
 
 
8.34
 
$
-
 
 
(1) vested shares and unvested shares after a forfeiture rate is applied