STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Option Activity

Stock option activity for the years ended December 31, 2016 and 2015 are summarized as follows:

OPTIONS ISSUED FOR COMPENSATION:	Shares		Weighted Average Exercise Price			Weighted Average Remaining Contractual Life (in Years)	Grant Date Fair Value
Outstanding at December 31, 2014	2,648,583		$	7.07		5.81	$	1,654,641
Options granted	525,000		2.23			9.71	1,083,411
Options exercised	(25,000	)	(0.45		)	0.00	(9,000		)
Options cancelled/forfeited/expired	(275,001	)	(20.22		)	0.00	(143,711		)
Outstanding at December 31, 2015	2,873,582		$	4.99		5.94	$	2,585,341
Vested at December 31, 2015	1,881,395		$	5.70		4.55	$	372,367
Exercisable at December 31, 2015	1,881,395		$	5.70		4.55	$	372,367
Outstanding at December 31, 2015	2,873,582		$	4.99		5.94	$	2,585,341
Options granted	570,000		1.38			9.72	622,115
Options exercised	(100,000	)	(0.50		)	0.00	(27,753		)
Options cancelled/forfeited/expired	(136,666	)	(8.64		)	0.00	(213,675		)
Outstanding at December 31, 2016	3,206,916		$	4.33		5.80	$	2,966,028
Vested at December 31, 2016	2,044,104		$	4.05		4.29	$	1,295,727
Exercisable at December 31, 2016	2,044,104		$	4.05		4.29	$	1,295,727

Schedule of Stock Warrant Activity

A summary of the Company’s stock warrant activity and related information for the years ended December 31, 2016 and 2015 is as follows:

WARRANTS ISSUED FOR COMPENSATION AND OTHER THAN SERIES B AND B1 PREFERRED STOCK:	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)	Grant Date Fair Value
Outstanding at December 31, 2014	219,868	$	3.01	5.00	$	140,249
Warrants granted	—	$	—	—	$	—
Warrants exercised	—	—		—	—
Warrants canceled/forfeited/expired	—	—		—	—
Warrants at December 31, 2015	219,868	$	3.01	4.00	$	140,249
Vested at December 31, 2015	219,868	$	3.01	4.00	$	140,149
Exercisable at December 31, 2015	219,868	$	3.01	4.00	$	140,149
Outstanding at December 31, 2015	219,868	$	3.01	4.00	$	140,249
Warrants granted	—	$	—	—	$	—
Warrants exercised	—	—		—	—
Warrants canceled/forfeited/expired	—	—		—	—
Warrants at December 31, 2016	219,868	$	3.01	3.00	$	140,249
Vested at December 31, 2016	219,868	$	3.01	3.00	$	140,149
Exercisable at December 31, 2016	219,868	$	3.01	3.00	$	140,149

Schedule of Assumptions Used in Option and Warrant Valuations

The following table summarizes the assumptions used in assessing the above described option and warrant valuations: 

	YEAR ENDED DECEMBER 31, 2016	YEAR ENDED DECEMBER 31, 2015
Expected volatility	78-79%	29-69%
Expected dividends	—%	—%
Expected term (in years)	0	10
Risk-free rate	.91-1.57%	.96-1.06%