INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of reconciliation of tax rate

A reconciliation of our effective income tax rate compared to the U.S. federal statutory rate is as follows:

	Year ended December 31, 2016			Year ended December 31, 2015
Provision (benefit) at U.S. federal statutory rate		(34.0	)%		(34.0	)%
State provision (benefit), net of U.S. federal tax		(4.9	)		(4.9	)
Permanent differences		0.2			0.1
Other items		0.2			1.9
Deferred tax valuation allowance		38.5			36.9
Effective income tax rate		0.0	%		0.0	%

Schedule of deferred tax assets

Net deferred tax assets consist of the following:

	December 31, 2016			December 31, 2015
Net federal and state operating loss carryforwards	$	20,072,124		$	18,513,698
Impairment of investments		531,470			531,470
Other, net		798,494			795,327
Deferred tax assets		21,402,088			19,840,495
Valuation allowance		(21,402,088	)		(19,840,495	)
Net deferred tax assets	$	—		$	—

Schedule of changes in the valuation allowance

Changes in the valuation allowance were as follows:

	Year ended December 31, 2016		Year ended December 31, 2015
Balance, beginning of year	$	19,840,495	$	18,210,959
Change in temporary differences		3,167		28,061
Change in net operating and capital losses		1,558,426		1,601,476
Balance, end of year	$	21,402,088	$	19,840,495