SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2014, consistent with the fair value hierarchy provisions:

	Quoted Prices
	in Active Markets for		Significant Other		Significant
	Identical Assets/Liabilities		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Carrying Amount
Assets:
Cash	$	758,000	$	—	$	—	$	758,000
Liabilities:
Convertible note payable	$	—	$	29,000	$	—	$	2,000,000
Preferred stock -conversion feature	$	—	$	—	$	150,000	$	150,000
Preferred stock -warrants	$	—	$	—	$	120,000	$	120,000

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2013, consistent with the fair value hierarchy provisions:

	Quoted Prices
	in Active Markets for		Significant Other		Significant
	Identical Assets/Liabilities		Observable Inputs		Unobservable
	(Level 1)		(Level 2)		Inputs (Level 3)		Carrying Amount
Assets:
Cash	$	5,517,000	$	—	$	—	$	5,517,000
Liabilities:
Convertible note payable	$	—	$	90,000	$	—	$	2,000,000