NET LOSS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Calculation of Net Earnings Per Share

The following sets forth the denominator used in the calculations of basic net loss per share and net loss per share assuming dilution:

	Year ended December 31, 2015		Year ended December 31, 2014
Denominator for basic net loss per share, weighted average shares outstanding		27,855,238		23,513,870
Dilutive effect of common stock options		N/A		N/A
Dilutive effect of Series C convertible preferred stock and convertible debt		N/A		N/A
Denominator for net loss per share, assuming dilution		27,855,238		23,513,870

Potentially dilutive securities

Potentially dilutive securities outstanding are summarized as follows:

	December 31, 2015		December 31, 2014
Exercise of common stock options		2,038,500		1,692,500
Exercise of common stock warrants		9,207,486		4,450,536
Conversion of Series C convertible preferred stock		2,450,980		2,828,054
Conversion of convertible debt		11,442,095		4,783,272
Total		25,139,061		13,754,362