STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2016

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		3,306,290
Total additional shares		5,999,674

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

Options issued and outstanding as of June 30, 2016 and their activities during the six months 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, 2016		3,613,944	$	2.40			$	-
Granted		2,778,671		0.26				-
Forfeited		(481,256)		1.66				-
Outstanding as of June 30, 2016		5,911,359		1.45		8.78	$	47,237
Exercisable as of June 30, 2016		1,885,703		3.07		7.37	$	-
Vested and expected to vest (1)		3,007,207	$	2.55		7.77	$	-

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