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CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2013
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
Schedule of Cash, Cash Equivalents and Short-term Investments [Table Text Block]

Cash, cash equivalents and short-term investments consisted of the following:

 

    As of 
March 31, 2013
    As of 
December 31, 2012
    (Decrease)
Increase
 
Cash and cash equivalents   $ 2,320,437     $ 2,673,719     $ (353,282 )
Short-term investments     2,985,000       2,240,000       745,000  
Total   $ 5,305,437     $ 4,913,719     $ 391,718