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LOSS PER SHARE (Details) (USD $)
 12 Months Ended 15 Months Ended 147 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2007
Dec. 31, 2006
Dec. 31, 2005
Dec. 31, 2004
Dec. 31, 2003
Dec. 31, 2002
Dec. 31, 2013
LOSS PER SHARE [Abstract]                          
Loss for the year $ 9,796,853 $ 2,772,307 $ 2,364,339 $ 2,788,446 $ 1,202,296 $ 1,528,981 $ 1,593,205 $ 1,282,842 $ 1,055,594 $ 288,233 $ 350,290 $ 63,293 $ 25,086,679
Stock dividend to certain Common Stockholder 278,263                          
Dividend on Preferred Stock 288,247                          
Loss for the period attributable to common stockholders $ 10,363,363 $ 2,772,307 $ 2,364,339                    
Number of shares:                          
Weighted average number of shares used in the computation of basic and diluted earnings per share 5,325,714 5,314,800 5,091,330                    
Total weighted average number of ordinary shares related to outstanding options and warrants excluded from the calculations of diluted loss per share 2,813,493 [1] 600,232 [1] 582,732 [1]                    
[1] All outstanding stock options, warrants and Preferred Stock have been excluded from the calculation of the diluted net loss per share for all the reported periods, since the effect of the shares issuable with respect of these instruments was anti-dilutive.