Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Details)

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STOCKHOLDERS' EQUITY (Details)
 6 Months Ended 12 Months Ended
Jul. 31, 2015
USD ($)
Director
$ / shares
shares
May. 11, 2015
USD ($)
$ / shares
shares
Apr. 23, 2015
USD ($)
$ / shares
shares
Dec. 24, 2014
USD ($)
$ / shares
shares
Jun. 30, 2015
USD ($)
$ / shares
Dec. 31, 2015
$ / shares
shares
Dec. 31, 2014
$ / shares
Class of Warrant or Right [Line Items]              
Proceed from sale of stock from private placement | $ $ 15,500,000       $ 4,600,000    
Number of board of directors | Director 2            
Common stock price per share (in dollars per share) | $ / shares $ 5.50     $ 4.00   $ 3.00 $ 4.00
Underwritten public offering (in shares) 2,830,000     3,500,000      
Warrant issued (in shares)           77,091  
Warrants issued price (in dollars per share) | $ / shares       $ 0.01      
Warrants exercisable date           Dec. 18, 2015  
Exercisable period of warrants       5 years      
Gross proceeds from offering | $       $ 14,035,000      
Warrants Outstanding (in shares)           3,799,024  
Exercise Price (in dollars per share) | $ / shares         $ 5.00 $ 5.00  
Private Placement [Member]              
Class of Warrant or Right [Line Items]              
Proceed from sale of stock from private placement | $   $ 10,000,000 $ 7,000,000        
Common stock price per share (in dollars per share) | $ / shares   $ 8.00 $ 3.00        
Underwritten public offering (in shares)   1,250,000 2,333,333        
Warrant issued (in shares)   625,000          
Exercise Price (in dollars per share) | $ / shares   $ 10          
Placement Agent [Member]              
Class of Warrant or Right [Line Items]              
Warrant issued (in shares)   50,000          
Term of warrant   5 years          
Exercise Price (in dollars per share) | $ / shares   $ 11.00          
2015 July Financing [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [1]           20,000  
Exercise Price (in dollars per share) | $ / shares [1]           $ 6.05  
Expiration Date [1]           Jul. 31, 2020  
2015 May Financing [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [2]           625,000  
Exercise Price (in dollars per share) | $ / shares [2]           $ 10.00  
Expiration Date [2]           Nov. 11, 2017  
2015 May Financing Agent Warrants [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [2]           50,000  
Exercise Price (in dollars per share) | $ / shares [2]           $ 11.00  
Expiration Date [2]           May 11, 2020  
2014 December Financing [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [3]           2,572,881  
Exercise Price (in dollars per share) | $ / shares [3]           $ 5.00  
Expiration Date [3]           Dec. 24, 2019  
2014 December Financing Agent Warrants [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [3]           87,500  
Exercise Price (in dollars per share) | $ / shares [3]           $ 5.00  
Expiration Date [3]           Dec. 18, 2019  
2012 Series B Private Placement [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [4]           400,001  
Exercise Price (in dollars per share) | $ / shares [4]           $ 25.00  
Expiration Date [4]           Oct. 24, 2018  
2011 November Private Placement [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [5]           42,898  
Exercise Price (in dollars per share) | $ / shares [5]           $ 100.00  
Expiration Date [5]           11/10 & 30/16  
2011 November Private Placement [Member] | Warrants [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares)           37,148  
Expiration Date           Nov. 10, 2016  
2011 November Private Placement [Member] | Warrant2 [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares)           5,750  
Expiration Date           Nov. 30, 2016  
2011 November Placement Agent Warrants [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares) [5]           744  
Expiration Date [5]           11/10 & 30/16  
2011 November Placement Agent Warrants [Member] | Warrants [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares)           372  
Exercise Price (in dollars per share) | $ / shares [5]           $ 83.50  
2011 November Placement Agent Warrants [Member] | Warrant2 [Member]              
Class of Warrant or Right [Line Items]              
Warrants Outstanding (in shares)           372  
Exercise Price (in dollars per share) | $ / shares [5]           $ 100.00  
[1] In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 share of common stock at $6.05 per share. The warrants are exercisable and expire on July 31. 2020.
[2] In connection with the offering on May 11, 2015, warrants to purchase 625,000 shares of common stock at $10.00 per share were issued. All of the warrants exercisable and expire November 11, 2017. Also in connection with the offering on May 11, 2015, the placement agent received warrants to purchase 50,000 share of common stock at $11.00 per share. The warrants are exercisable and expire on May 11. 2020.
[3] In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $5.00 per share were purchased and issued for $0.01 per warrant. All of the warrants are exercisable immediately and expire on December 24, 2019. At December 31, 2015, 2,572,881 warrants are outstanding. Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 87,500 shares of common stock at $5.00 per share. The warrants were exercisable on December 18, 2015 and expire on December 18, 2019.
[4] In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 shares of common stock at $25.00 per share were issued. All of the warrants are exercisable immediately and expire on October 24, 2018.
[5] In connection with a private placement offering on November 10 and 30, 2011, warrants to purchase 42,898 shares of common stock at $100.00 per share were issued. All of the warrants are exercisable immediately and 37,148 warrants expire November 10, 2016 and 5,750 warrants expire November 30, 2016. Also in connection with a private placement offering on November 10 and 30, 2011, placement agent warrants to purchase 372 shares of common stock at $83.50 per share were issued. Also in connection with a private placement offering on November 10 and 30, 2011, placement agent warrants to purchase 372 shares of common stock at $100.00 per share were issued. All the placement agent warrants are exercisable immediately and 372 warrants expire November 10, 2016 and 372 warrants expire November 30, 2016.