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SHAREHOLDERS' EQUITY (Tables)
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3 Months Ended |
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Mar. 31, 2015
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| Stockholders' Equity Note [Abstract] |
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| Schedule Of Components Of Financing Cost Allocation [Table Text Block] |
The following table summarizes the components of the allocation: | | | Paid-in | | | | | | | | | | | Series A | | Capital | | | | | | | Preferred | | Warrants | | Total | | | Fair values of financial instruments | | $ | 10,248,092 | | $ | 1,039,978 | | $ | 11,288,070 | | | | | | | | | | | | | | | Gross proceeds | | $ | 9,810,227 | | $ | 995,523 | | $ | 10,805,750 | | | Direct financing costs | | | (1,581,550) | | | (161,443) | | | (1,742,993) | | | Fair value of placement agent warrants | | | - | | | 187,366 | | | 187,366 | | | | | $ | 8,228,677 | | $ | 1,021,446 | | $ | 9,250,123 | | |
| Schedule Of Assumptions Used To Determine Fair Value Of Series Preferred Stock [Table Text Block] |
The following tables reflect assumptions used to determine the fair value of the Series A Preferred: | | | | | | Series A | | | Series A | | | | | Fair Value | | Preferred | | | Preferred | | | | | Hierarchy | | April 27, | | | May 10, | | | | | Level | | 2010 | | | 2010 | | | Indexed common shares | | | | | | 1,866,174 | | | | 589,689 | | | | | | | | | | | | | | | | Components of fair value: | | | | | | | | | | | | | Common stock equivalent value | | | | | $ | 6,631,403 | | | $ | 2,083,094 | | | Dividend feature | | | | | | 659,821 | | | | 209,439 | | | | | | | | $ | 7,291,224 | | | $ | 2,292,533 | | | | | | | | | | | | | | | | Significant assumptions: | | | | | | | | | | | | | Common stock price | | | 3 | | | 3.55 | | | | 3.53 | | | Horizon for dividend cash flow projection | | | 3 | | | 2.00 | | | | 2.00 | | | Weighted average cost of capital ("WACC") | | | 3 | | | 15.91 | % | | | 15.55 | % | |
| Schedule Of Assumptions Used To Determine Fair Value Of Warrants [Table Text Block] |
The following tables reflect assumptions used to determine the fair value of the Series A Warrants: | | | Fair
Value | | April 27, 2010 | | May 10, 2010 | | | | | Hierarchy | | Investor | | Agent | | Investor | | Agent | | | | | Level | | warrants | | warrants | | warrants | | Warrants | | | | | | | | | | | | | | | | | | | | | Indexed shares | | | | | | 746,479 | | | 130,632 | | | 235,883 | | | 41,279 | | | Exercise price | | | | | | 5.06 | | | 4.84 | | | 5.06 | | | 4.84 | | | | | | | | | | | | | | | | | | | | | Significant assumptions: | | | | | | | | | | | | | | | | | | Stock price | | | 3 | | | 3.55 | | | 3.55 | | | 3.53 | | | 3.53 | | | Remaining term | | | 3 | | | 5 years | | | 5 years | | | 5 years | | | 5 years | | | Risk free rate | | | 2 | | | 2.39 | % | | 2.39 | % | | 2.24 | % | | 2.24 | % | | Expected volatility | | | 2 | | | 45.25 | % | | 45.25 | % | | 45.47 | % | | 45.47 | % | |
| Schedule Of Warrants Activity [Table Text Block] |
The following is a summary of the status and activity of warrants outstanding as of March 31, 2015: | Outstanding Warrants | | | Exercise Price | | Number of Warrants | | Average Remaining Contractual Life | | | $ | 5.06 | | | 982,362 | | 0.07 years | | | $ | 4.84 | | | 171,911 | | 0.07 years | | | | Total | | | 1,154,273 | | | | | | | Number of Warrants | | | Outstanding as of December 31, 2014 | | | 1,154,273 | | | Granted | | | - | | | Forfeited | | | - | | | Exercised | | | - | | | Outstanding as of March 31, 2015 | | | 1,154,273 | | |