SHARE-BASED COMPENSATION AND WARRANTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

The Company’s net loss for the years ended December 31, 2017 and 2016 includes $650,440 and $2,995,240, respectively, of non-cash compensation expense related to the Company’s share-based compensation awards. The compensation expense related to the Company’s share-based compensation arrangements is recorded as components of general and administrative expense and research and development expense, as follows:

	2017		2016
Research and development	$	271,733	$	746,027
General and administrative		378,707		2,249,213
Share-based compensation expense	$	650,440	$	2,995,240
Net share-based compensation expense, per common share:
Basic and diluted	$	0.01	$	0.05

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Following are the weighted-average assumptions used in valuing the stock options granted to employees during the years ended December 31, 2017 and 2016:

	Years ended December 31,
	2017			2016
Expected volatility		78.88	%		82.12	%
Risk free interest rate		1.96	%		1.29	%
Expected term of option		6.29 years			5.33 years
Forfeiture rate		-			*3.00	%
Expected dividend yield		-			-

*- In 2016, authoritative guidance required forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Throughout 2016, forfeitures were estimated at 3% and the actual forfeiture rate was 6% for 2016. The Company adjusted stock compensation expense for 2016 based on the actual forfeiture rate.

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the Company’s stock option plans and of changes in options outstanding under the plans during the years ended December 31, 2017 and 2016 is as follows:

					Weighted Average
			Weighted Average		Remaining		Aggregate Intrinsic
	Number of Options		Exercise Price		Contractual Term		Value
					In Years
Outstanding at December 31, 2015		6,694,744	$	1.99
Exercised		-	$	-
Granted		4,213,518	$	1.00
Expired		(856,512)	$	2.24
Forfeited		(516,444)	$	1.14
Outstanding at December 31, 2016		9,535,306	$	1.57
Exercised		(154,545)	$	2.11
Granted		3,199,500	$	1.05
Expired		(978,070)	$	1.64
Forfeited		(16,876)	$	0.92
Outstanding at December 31, 2017		11,585,315	$	1.42		7.46	$	21,730,182
Exercisable at December 31, 2017		8,468,971	$	1.57		6.78	$	14,781,148

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following summarizes information about stock options granted to employees and directors outstanding at December 31, 2017:

	Options Outstanding						Options Exercisable
			Weighted
			Average		Weighted				Weighted
	Number		Remaining		Average		Number		Average
Range of	Outstanding at		Contractual		Exercise		Exercisable at		Exercise
Exercise Prices	December 31, 2017		Life in Years		Price		December 31, 2017		Price
$0.00 - $1.00		3,950,656		8.9	$	0.93		1,538,965	$	0.87
$1.01 - $2.00		7,083,119		7.0	$	1.53		6,378,466	$	1.57
$2.01 - $3.00		375,000		4.2	$	2.24		375,000	$	2.24
$3.01 - $7.00		122,000		3.0	$	6.24		122,000	$	6.24
$7.01 - $8.00		54,540		1.5	$	7.26		54,540	$	7.26
		11,585,315		7.5	$	1.42		8,468,971	$	1.57

Schedule Of Warrant Activity [Table Text Block]

Warrants issued generally expire after 2-5 years from the date of issuance. Stock warrant activity is as follows:

			Weighted Average
	Number of Shares		Exercise Price
Outstanding at December 31, 2015		4,010,903	$	2.27
Issued		4,625,510	$	1.69
Exercised		-	$	-
Expired		(2,247,912)	$	2.91
Outstanding at December 31, 2016		6,388,501	$	1.60
Issued		1,638,506	$	3.75
Exercised		-	$	-
Expired		(1,762,991)	$	1.46
Outstanding at December 31, 2017		6,264,016	$	2.23
Exercisable at December 31, 2017		4,625,510	$	1.69