INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of components of income tax benefit

The benefit for income taxes from continuing operations consists of the following for the year ended December 31, 2016 and December 31, 2015: 

	December 31, 2016			December 31, 2015
Current	$	12,000		$	—
Deferred		(7,061,000	)		(5,904,000	)
Total		(7,049,000	)		(5,904,000	)
Change in Valuation Allowance		2,474,000			5,904,000
Tax Benefit, net	$	(4,575,000	)	$	—

Schedule of significant components of deferred tax assets

At December 31, 2016 and December 31, 2015 the significant components of the deferred tax assets from continuing operations are summarized below:

	December 31, 2016			December 31, 2015
Deferred Tax Assets
Net Operating Losses Carry forwards	$	22,998,800		$	15,486,000
Stock Compensation		739,100			1,601,500
Fixed Assets		—			380,900
Accrued Expenses		678,600			296,100
Total Deferred Tax Assets		24,416,500			17,764,500
Valuation Allowance		(20,239,100	)		(17,764,500	)
	$	4,177,400		$	—
Deferred Tax Liabilities
Intangibles	$	(4,605,400	)	$	—
Fixed Assets		(400,600	)		—
Total Deferred Tax Liabilities		(5,006,000	)		—
Net Deferred Tax Liability	$	(828,600	)	$	—

Schedule of income tax reconciliation

The following table reconciles our losses from continuing operations before income taxes for the year ended December 31, 2016 and December 31, 2015.

	December 31, 2016					December 31, 2015
Federal Statutory Rate	$	(8,167,000	)	34.00	%	$	(4,614,000	)	34.00	%
State Income Tax, net of Federal Tax		(911,000	)	3.83	%		(790,000	)	5.83	%
Other Permanent Differences		925,000		(3.85	%)		32,000		(0.24	%)
Prior Year True-Up		1,323,000		(5.51	%)		—		0.00	%
Change in State Rate		(219,000	)	0.88	%		(532,000	)	3.91	%
Change in Valuation Allowance		2,474,000		(10.30	%)		5,904,000		(43.50	%)
Expected Tax Benefit	$	(4,575,000	)	19.05	%	$	—