SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Product Information [Line Items]
Federal Depository Insurance Coverage	$ 250,000
Temporary Equity, Par Value	$ 69,883,968	$ 73,410,170
Common stock redemption shares	6,987,568	7,341,017
Underwriters Fees Including Deferred Underwriters Fees	$ 4,800,000
Business Acquisition, Transaction Costs	5,223,296
Other Liabilities, Noncurrent	$ 2,800,000	$ 2,800,000