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LOSS PER SHARE (Details) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Earnings Per Share [Abstract]    
Loss for the period $ 2,530,325 $ 1,226,764
Cash dividend on Series A Preferred Stock 4,700 4,700
Stock dividend on Series B Preferred Stock 246,031 122,820
Stock dividend on Series C Preferred Stock 115,986
Loss for the period attributable to common stockholders $ 2,897,042 $ 1,354,284
Number of shares:    
Weighted average number of shares used in the computation of basic and diluted earnings per share 6,029,342 5,690,097
Total weighted average number of common shares related to outstanding convertible preferred stock, options and warrants excluded from the calculations of diluted loss per share [1] 16,056,013 9,462,671
[1] All outstanding convertible Preferred Stock, stock options and warrants have been excluded from the calculation of the diluted net loss per share for all the reported periods, because the effect of the common shares issuable as a result of the exercise or conversion of these instruments was anti-dilutive.