XML 88 R70.htm IDEA: XBRL DOCUMENT v3.7.0.1
INCOME TAX (Reconciliation of Statutory Tax Rate to the Effective Income Tax Rate) (Details) - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income Tax Disclosure [Abstract]      
Pretax income (loss) $ (5,409,737) $ (5,842,172) $ 2,980,426
Federal tax rate 34.00% 34.00% 35.00%
Income tax expenses (benefit) computed at the ordinary tax rate $ (1,839,311) $ (1,986,338) $ 1,043,149
Non-deductible expenses 34,500 31,050 27,250
Stock-based compensation 17,562 4,503 14,415
Warrants with down round protection (98,473) (50,691) (2,295,915)
Loss on partial extinguishment of Series A Preferred Stock and Series A Warrants 436,680
Tax in respect of differences in corporate tax rates 396,956 340,263 278,466
Losses and timing differences in respect of which no deferred taxes assets were recognized 1,488,766 1,224,533 932,635
Tax expense reported in the financial statements