NET LOSS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2016

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:

	Three months ended		Three months ended
	March 31, 2016		March 31, 2015
Denominator for basic net loss per share, weighted average shares outstanding		28,525,558		26,767,978
Dilutive effect of common stock options		N/A		N/A
Dilutive effect of Series C convertible preferred stock, convertible debt and warrants		N/A		N/A
Denominator for diluted net loss per share, weighted average shares outstanding		28,525,558		26,797,978

Potentially dilutive securities

Potentially dilutive securities outstanding are summarized as follows:

	March 31,2016		March 31, 2015
Exercise of common stock options		1,738,500		1,742,500
Exercise of common stock warrants		12,569,898		5,727,251
Conversion of Series C convertible preferred stock		1,918,159		1,470,588
Conversion of convertible debt		14,971,505		6,306,802
Total		31,198,062		15,247,141