RELATED PARTY TRANSACTIONS AND BALANCES (Tables)

9 Months Ended

Sep. 30, 2014

Related Party Transactions [Abstract]

Schedule of Related Party Transactions [Table Text Block]

Transactions

	Nine Months Ended September 30,
	2014		2013
Compensation and related expenses to the Chairman (1)	$	22,000	$	22,000
Compensation to the Chief Financial Officer (2)		22,000		22,000
Cash advance from Royal HTM Group, Inc. (3)		62,000		109,000
	$	106,000	$	153,000

Schedule of Related Party Payables [Table Text Block]

As of September 30, 2014 payables to related parties consist of the following:

Amount due to Royal HTM Group, Inc.	$	3,839,000
Accrued compensation due to the Chief Financial Officer		532,000
Accrued compensation due to the Chairman of the Board		2,141,000
	$	6,512,000