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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Earnings per share        
Stock options excluded from calculation of diluted EPS     1,853,154 1,076,523
Net income (loss) $ 371,425 $ (940,384) $ (3,056,790) $ (4,788,653)
Preferred dividend requirements (228,999) (228,999) (686,997) (687,066)
Income (loss) applicable to common shareholders $ 142,426 $ (1,169,383) $ (3,743,787) $ (5,475,719)
Average common shares outstanding 27,394,061 26,719,608 27,326,966 27,000,158
Average common and common equivalent shares outstanding - assuming dilution 29,173,359 26,719,608 27,326,966 27,000,158
Basic earnings (loss) per share (in dollars per share) $ 0.01 $ (0.04) $ (0.14) $ (0.20)
Diluted earnings (loss) per share (in dollars per share) $ 0.00 $ (0.04) $ (0.14) $ (0.20)