FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value Measurements within Fair Value Hierarchy of Derivative Liabilities Using Level 3 Inputs) (Details) |
3 Months Ended |
---|---|
Mar. 31, 2016
USD ($)
| |
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract] | |
Beginning balance | $ 1,802,375 |
Series C embedded derivative fair value, February, 2016 | 1,235,000 |
Series C warrant liability fair value, February, 2016 | 1,767,576 |
Change in fair value of derivative liabilities | (1,267,933) |
Ending balance | $ 3,537,018 |