FIXED ASSETS |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment Disclosure [Text Block] |
5. FIXED ASSETS
Fixed assets consisted of the following at December 31:
For the years ended December 31, 2015 and 2014, the Company incurred approximately $363,000 and $367,000 of depreciation and amortization expense, respectively. The decline in our stock price during the fourth quarter and continuing losses resulted in a triggering event that required an impairment review of non-current assets. We performed a step 1 impairment assessment of our non-current assets by preparing a probability weighted cash flow forecast. Such an analysis is highly subjective given, the risk associated with the development, approval and marketing of our products, and the extended time required to bring our products to market. As a result, we utilized low probability weighted assumptions to reflect the risk and extended time period before which positive cash flows will be generated. This analysis indicated that the un-discounted cash flows exceeded the carrying amount and no impairment was evident. |
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