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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of components of income tax expense (benefit) | The benefit for income taxes differs from the benefit computed by applying the federal statutory rate to loss before income taxes as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |
Expected federal income tax benefit at statutory federal rate |  | $ | (2,165,421 | ) |  | $ | (6,015,321 | )
Share-based compensation |  |  | 214,430 |  |  |  | 194,676 |
Other permanent items |  |  | 1,034 |  |  |  | 17,947 |
Loss of tax attributes of NRLBH |  |  | 437,763 |  |  |  |  |
Effect of change in valuation allowance |  |  | 843,386 |  |  |  | 5,788,496 |
Prior year true-up |  |  | 656,812 |  |  |  | - |
Other |  |  | 11,996 |  |  |  | 14,202 |
Actual federal income tax benefit |  | $ | - |  |  | $ | -
Schedule of deferred tax assets and liabilities | The components of net deferred tax assets are as follows:
|  | As of December 31, |
|  | 2016 |  |  | 2015 |
Deferred tax assets, current: |  |  |  |  |  |  |  |
Accrued bonuses |  | $ | 207,175 |  |  |  | 165,642 |
Obsolete inventory |  |  | 35,426 |  |  |  | 35,426 |
Accrued vacation |  |  | 32,135 |  |  |  | 31,896 |
Valuation allowance, current |  |  | (274,736 | ) |  |  | (232,964 | )
Net deferred tax asset, current |  |  | - |  |  |  | - |
Deferred tax assets, long term: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  |  | 16,382,515 |  |  |  | 15,840,922 |
Intangible assets, net |  |  | 949,088 |  |  |  | 768,232 |
Share-based compensation |  |  | 934,995 |  |  |  | 851,521 |
Basis difference in fixed assets |  |  | 53,819 |  |  |  | 53,819 |
Contribution, carryforward |  |  | 315 |  |  |  | 272 |
Valuation allowance, long term |  |  | (18,283,243 | ) |  |  | (17,481,629 | )
Deferred tax asset, long term |  |  | 37,489 |  |  |  | 33,137 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Other |  |  | (37,489 | ) |  |  | (33,137 | )
Net deferred tax asset, long term |  |  | - |  |  |  | - |
Net deferred tax asset |  | $ | - |  |  | $ | - |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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