INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income tax expense (benefit) provision

	Year Ended December 31,
	2015			2014			2013
Federal income tax (benefit) expense:
Current	$	(228,000	)	$	(22,000	)	$	19,000
Deferred		—			—			—
		(228,000	)		(22,000	)		19,000
State and local:
Current		(47,000	)		(5,000	)		—
Deferred		—			—			—
		(47,000	)		(5,000	)		—
Total:
Current		(275,000	)		(27,000	)		19,000
Deferred		—			—			—
	$	(275,000	)	$	(27,000	)	$	19,000

Reconciliation between income tax benefit and income taxes

	Year Ended December 31,
	2015			2014			2013
Expected income tax benefit at statutory Federal tax rate (34%)	$	(1,051,000	)	$	(2,251,000	)	$	(2,004,000	)
State and local taxes, net of Federal tax effect		(68,000	)		(464,000	)		(413,000	)
Increase in valuation allowance		784,000			2,551,000			2,342,000
Permanent difference		13,000			39,000			46,000
Other		47,000			98,000			48,000
Income tax (benefit) expense	$	(275,000	)	$	(27,000	)	$	19,000

Deferred tax assets (liabilities)

	December 31,
	2015			2014
Deferred tax assets:
Net operating loss credit carryforwards	$	9,456,000		$	8,046,000
Capital loss carryforwards		395,000			24,000
Alternative minimum tax carryforward		—			9,000
Employee stock based compensation		237,000			237,000
Retail brokerage accounts (c)		140,000			211,000
Contribution carryover		178,000			223,000
Furniture, equipment and leasehold improvements		181,000			115,000
Accrued expenses		252,000			337,000
Investment in former affiliate (a)		—			736,000
Other		44,000			30,000
Total		10,883,000			9,968,000
Valuation allowance		(10,002,000	)		(9,218,000	)
Net deferred tax assets		881,000			750,000
Deferred tax liability:
Receivable from affiliate (b)		(881,000	)		(750,000	)
	$	0		$	0