SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2014

SHAREHOLDERS' EQUITY

Schedule of changes in shareholders' equity

	Common Stock					Accumulated			Treasury
	Shares	Amount		Paid-In Capital		Deficit			Stock			Total
Balances, January 1, 2014	19,820,258	$	19,824	$	216,703,028	$	(191,470,046	)	$	(9,418	)	$	25,243,388
Net loss						(3,460,037		)	—			(3,460,037		)
Common stock issuance for loan interest and fees	138,406	138		362,945		—			—			363,083
Stock compensation expense	—	—		116,688		—			—			116,688
Common stock issuance, net of issuance costs	4,483,350	4,484		11,244,227		—			—			11,248,711
Balances, March 31, 2014	24,442,014	$	24,446	$	228,426,888	$	(194,930,083	)	$	(9,418	)	$	33,511,833