Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 13,310,616 $ 10,061,421 $ 11,499,619
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options 49,425 49,425  
Other Assets   $ 466,000  
Cash, Uninsured Amount $ 12,800,000    
Change in Accounting Estimate, Description As a result, the Company reassessed the estimated useful life of the research and development assets and concluded they should be accelerated beginning on December 1, 2017 through December 31, 2017 (one month remaining life). The Company also reassessed the estimated useful life of the leasehold improvements and concluded that they should be accelerated beginning on December 1, 2017 through December 31, 2017 (one month remaining life). These reassessments of the estimated useful lives have been accounted for as changes in an estimate.    
Leasehold Improvements [Member]      
Property, Plant and Equipment, Useful Life 64 months    
Maximum [Member]      
Property, Plant and Equipment, Useful Life 10 years    
Minimum [Member]      
Property, Plant and Equipment, Useful Life 3 years    
Certificates of Deposit [Member]      
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 55,000 $ 55,000