Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Deferred Income Taxes) (Details)

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INCOME TAXES (Deferred Income Taxes) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Deferred tax assets-current:    
Accrued Expenses $ 0 $ 3,000
Accrued Payroll 0 6,000
Deferred Rent 0 36,000
Total current assets 0 45,000
Deferred tax assets—long term:    
Accrued Payroll 95,000 0
Intangibles 763,000 779,000
Organization Cost 0 17,000
Start-up Expenditures 0 1,691,000
Research & Development Credit 804,000 492,000
Net Operating loss 6,592,000 1,374,000
Stock Compensation 379,000 140,000
New Jobs Credit 7,000 7,000
Total long-term assets 8,640,000 4,500,000
Total deferred tax assets 8,640,000 4,545,000
Less: Valuation Allowance (8,639,000) (4,520,000)
Deferred tax liabilities—current: 0 0
Total current liabilities 0 0
Deferred tax liabilities-long term:    
Fixed Assets (1,000) (25,000)
Total long-term liabilities (1,000) (25,000)
Total deferred tax assets (1,000) (25,000)
Net deferred tax assets 0 0
Income taxes by jurisdiction    
Increase of valuation allowance $ 4,100,000 1,300,000
Reversal of deferred tax asset associated with Derivatives   $ 2,210,000