STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2017

Employee Stock Option [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of each option award is estimated using the Black-Scholes valuation model. Assumptions used in calculating the fair value at June 30, 2017 were as follows:

	Weighted
	Average
	Inputs Used
Annual dividend yield	$	-
Expected life (years)		6.55
Risk-free interest rate		1.42	%
Expected volatility		85.08	%
Common stock price	$	0.45