INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of income taxes

The Company’s loss before income taxes from US and Foreign sources for the years ended December 31, 2016, are as follows:

	2016			2015
United States	$	(8,701,796	)	$	(35,853,893	)
Outside United States		(1,146,661	)		(825,276	)
Loss before income taxes	$	(9,848,457	)	$	(36,679,169	)

Schedule of components of deferred tax assets and liabilities

The following table summarizes the significant differences between the U.S. Federal statutory tax rate and the Company’s effective tax rate for financial statement purposes for the years ended December 31, 2016 and 2015:

	2016			2015
U.S. Federal Statutory Tax Rate		34.00	%		34.00	%
State taxes		3.63	%		3.63	%
Permanent items		35.71	%		(30.32	)%
Change in valuation allowance		(73.34	)%		(7.31	)%
Totals		0.00	%		0.00	%

Schedule of reconciliation from the U.S. Federal statutory income rate

The tax effects of temporary differences that give rise to deferred tax assets and liabilities as of December 31, 2016 and 2015 are summarized as follows:

	2016			2015
Deferred Tax Assets:
Net operating loss carry-forwards	$	2,669,107		$	1,086,609
Debt issuance costs		1,882			—
Charitable Contributions		290,528			—
Value of stock options and stock compensation		5,655,810			2,378,259
Total deferred tax assets		8,617,327			3,464,868
Less: Valuation allowance		(8,463,727	)		(2,621,446	)
Net deferred tax assets		153,600			843,422
Deferred Tax Liabilities:
Fixed and intangible assets		(1,625	)		(9,034	)
Debt issuance costs		(91,451	)		(165,704	)
Debt discounts		(60,524	)		(668,684	)
Total deferred tax liabilities		(153,600	)		(843,422	)
Total deferred tax assets and liabilities, net	$	—		$	—