INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of tax rate reconciliation

A reconciliation between taxes computed at the federal statutory rate and the consolidated effective tax rate is as follows:

	2016			2015			2014
Federal statutory tax rate		34.0	%		34.0	%		34.0	%
State tax rate, net of federal tax benefit		5.4	%		4.73	%		5.8	%
Adjustment in valuation allowances		(40.3	)%		(38.97	)%		(50.9	)%
Permanent and other differences		0.9	%		0.24	%		11.1	%
Provision (benefit) for income taxes		—	%		—	%		—	%

Schedule of deferred tax assets and liabilities

Deferred income taxes result from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes. The components of the net deferred income tax asset as of December 31, 2016, 2015, and 2014 are as follows:

	2016			2015			2014
Deferred Income Tax Assets:
Net operating losses	$	111,730,450		$	79,499,633		$	43,091,437
R&D Credit		186,347			186,347			—
Total deferred income tax asset		111,916,797			79,685,980			43,091,437
Valuation allowance		(111,916,797	)		(79,685,980	)		(43,091,437	)
Deferred income tax assets, net	$	—		$	—		$	—