Subscription Rights Offering

9 Months Ended

Sep. 30, 2015

Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Subscription Rights Offering

The Company concluded a subscription rights offering on June 6, 2014.  Each subscription right entitled its holder to purchase one share of common stock of the Company for $1.60 per share.  Subscription rights to purchase 1,787,204 shares of common stock were exercised for $2,859,526, of which $2,000,000 was paid by conversion of a loan owed by the Company to Real Estate Strategies, L.P. (“RES”). The Company incurred issuance costs of $217,852.