INCOME TAXES - Effective tax rate and statutory federal rate (in dollars) (Details) - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
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| Reconciliation of effective tax rate and statutory federal rate (in dollars) | ||
| Tax benefit computed at "expected" statutory rate | $ (8,533,296) | $ (2,742,728) |
| State income taxes, net of benefit | (818,432) | (48,135) |
| Permanent differences : | ||
| Deemed Dividend | 738,904 | 432,307 |
| Stock based compensation and consulting | 208,481 | 581,216 |
| Other permanent differences | 247,895 | 2,535 |
| Change in valuation allowance | (3,177,504) | |
| Net income tax benefit | $ (8,156,448) | $ (4,952,309) |
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- Definition Amount of other current and other deferred income tax expense (benefit) attributable to continuing operations. No definition available.
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- References No definition available.
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- References No definition available.
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deduction for dividend paid to employee stock ownership plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible equity-based compensation costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in income tax contingencies. Including, but not limited to, domestic tax contingency, foreign tax contingency, state and local tax contingency, and other contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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