DERIVATIVE LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 derivative liabilities associated with the August 2015 underwritten offering for the nine months ended September 30, 2015:

	Series A		Series B		Series C		Series D		Total
Balance at January 1, 2015	$	—	$	—	$	—	$	—	$	—
Recognition of warrant liability on issuance date		1,275,000		1,568,000		178,000		347,000		3,368,000
Reclassification of derivative liability to stockholders’ equity upon exercise		—		(1,197,000)		—		—		(1,197,000)
Change in fair value of derivative liabilities		(151,000)		(371,000)		(101,000)		(198,000)		(821,000)
Balance at September 30, 2015	$	1,124,000	$	—	$	77,000	$	149,000	$	1,350,000

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The following are the key assumptions used in connection with the valuation of the warrants exercisable into common stock on the date of issuance and September 30, 2015:

	Series A			Series B			Series C			Series D
Date of warrant		8/19/2015			8/19/2015			8/19/2015			8/19/2015
Number of shares underlying the warrants		2,500,000			2,450,000			2,550,000			4,950,000
Fair market value of stock	$	0.65		$	0.65		$	0.65		$	0.65
Exercise price	$	1.00		$	0.01		$	1.00		$	0.99
Volatility		121.4	%		121.4	%		125.4	%		125.4	%
Risk-free interest rate		1.03	%		1.03	%		0.30	%		0.30	%
Expected dividend yield		—			—			—			—
Warrant life (years)		5			5			0.25			0.25

	Series A			Series B		Series C			Series D
Number of shares underlying the warrants on September 30, 2015		2,500,000			—		2,550,000			4,950,000
Fair market value of stock	$	0.58			—	$	0.58		$	0.58
Exercise price	$	1.00			—	$	1.00		$	0.99
Volatility		124.2	%		—		144.4	%		144.4	%
Risk-free interest rate		0.98	%		—		0.38	%		0.38	%
Expected dividend yield		—			—		—			—
Warrant life (years)		4.88			—		0.13			0.13

Derivative Financial Instruments, Liabilities [Member]

DERIVATIVE LIABILITY [Line Items]

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table sets forth a summary of the changes in the fair value of our Level 3 financial liabilities that are measured at fair value on a recurring basis:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Beginning balance	$	320,000	$	-	$	270,000	$	-
Recognition of conversion feature liability		-		-		769,000		-
Recognition of warrant liability on issuance date		3,368,000		-		3,783,000		-
Reclassification to stockholders’ equity upon exercise		(1,196,000)		-		(1,866,000)		-
Change in fair value of derivative liabilities		(1,103,000)		-		(1,567,000)		-
Ending balance	$	1,389,000	$	-	$	1,389,000	$	-

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The following are the key assumptions used in connection with the valuation of the conversion options associated with the Series A Financing, Series B Financing, and Series C Financing on the date of issuance, at December 31, 2014 and September 30, 2015:

	Series A			Series B			Series B			Series C
	Financing			Financing			(Related Party)			Financing
Date of issuance		12/31/2014			2/11/2015			2/24/2015			2/24/2015
Number of shares convertible into		750,000			350,000			845,000			1,800,000
Fair market value of stock	$	5.10		$	4.22		$	4.50		$	4.50
Conversion price	$	5.70		$	3.57		$	4.00		$	4.00
Volatility		131	%		143.4	%		143.4	%		143.4	%
Risk-free interest rate		0.25	%		0.24	%		0.22	%		0.22	%
Expected dividend yield		7	%		7	%		7	%		7	%
Life of convertible preferred stock (years)		1			1			1			1

Preferred Stock [Member]

DERIVATIVE LIABILITY [Line Items]

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 derivative liabilities associated with the Series A Financing, Series B Financing, and Series C Financing for the nine months ended September 30, 2015:

	Series A		Series B		Series B		Series C
	Financing		Financing		(Related Party)		Financing		Total
Balance at January 1, 2015	$	270,000	$	—	$	—	$	—	$	270,000
Recognition of conversion feature liability		—		81,000		220,000		468,000		769,000
Recognition of warrant derivative liability		—		45,000		118,000		252,000		415,000
Reclassification to stockholders’ equity upon conversion		(150,000)		(54,000)		(220,000)		(245,000)		(669,000)
Change in fair value of derivative liabilities		(111,000)		(69,000)		(111,000)		(455,000)		(746,000)
Balance at September 30, 2015	$	9,000	$	3,000	$	7,000	$	20,000	$	39,000

Warrant [Member]

DERIVATIVE LIABILITY [Line Items]

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The following are the key assumptions used in connection with the valuation of the warrants associated with the Series A Financing, Series B Financing, and Series C Financing at December 31, 2014, their respective issuance dates, and September 30, 2015:

	Series A			Series B			Series B			Series C
	Financing			Financing			(Related Party)			Financing
Date of warrant		12/31/2014			2/11/2015			2/24/2015			2/24/2015
Number of shares underlying the warrants		37,500			17,500			42,250			90,000
Fair market value of stock	$	5.10		$	4.22		$	4.50		$	4.50
Exercise price	$	20.00		$	20.00		$	20.00		$	20.00
Volatility		112.9	%		120.6	%		115.8	%		115.8	%
Risk-free interest rate		0.96	%		0.90	%		0.90	%		0.90	%
Expected dividend yield		—			—			—			—
Warrant life (years)		5			5			5			5

	Series A			Series B			Series B			Series C
	Financing			Financing			(Related Party)			Financing
Number of shares underlying the warrants on September 30, 2015		37,500			17,500			42,250			90,000
Fair market value of stock	$	0.58		$	0.58		$	0.58		$	0.58
Exercise price	$	11.50		$	11.50		$	20.00		$	11.50
Volatility		119.9	%		119.7	%		119.5	%		119.5	%
Risk-free interest rate		1.03	%		1.03	%		1.03	%		1.03	%
Expected dividend yield		—			—			—			—
Warrant life (years)		4.25			4.35			4.40			4.40