Annual report pursuant to Section 13 and 15(d)

FAIR VALUE (Details 4)

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FAIR VALUE (Details 4) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Gain on derivatives resulting from change in fair value $ 3,667,826 $ 2,285,157
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Beginning fair value of warrants 1,127,500 3,355,000
Fair value of warrants issued in connection with the October 2015 offering 3,272,000 0
Gain on derivatives resulting from change in fair value (2,332,500) (2,227,500)
Ending fair value of warrants $ 2,067,000 $ 1,127,500