Omphalos (OMPS) 10-Q/A 10 Dec 15 2015 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 05, 2015
Document Type	10-Q
Amendment Flag	true
Amendment Description	The purpose of this Amendment No. 1 (this “Amendment”) to the Quarterly Report on Form 10-Q of Omphalos, Corp. for the fiscal quarter ended June 30, 2015, and filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2015 (the “Original Filing”), is to make amendments to the financial statements included in this Amendment to record an allowance regarding an inventory reserve valuation of $1,832, which impacts our costs of sales for that fiscal quarter. Additionally, in the financial statements included in this Amendment, we have classified $1,754 as a purchase return rather than including that amount in our sales account for that quarter. For convenience of the reader, this Amendment specifies the Original Filing in its entirety, as amended by this Amendment. Except for those revisions specified in this Explanatory Note, this Amendment does not amend or otherwise update any other information in the Original Filing. Accordingly, this Amendment should be read in conjunction with the Original Filing. As required by the provisions of Rule 12b-15 promulgated pursuant to the Securities Exchange Act of 1934, new certifications by the Company’s Principal Executive Officer and Principal Financial Officer are filed as exhibits to this Amendment.
Document Period End Date	Jun. 30, 2015
Trading Symbol	omps
Entity Registrant Name	OMPHALOS, CORP
Entity Central Index Key	1,103,640
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		30,063,759
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 18,693	$ 107,028
Accounts receivable, net	1,674	101,996
Inventory, net	63,564	33,488
Prepaid and other current assets	36,037	34,788
Total current assets	119,968	277,300
Leasehold Improvements and Equipment, net	10,037	12,153
Intangible assets, net	24,266	25,297
Deposits	3,675	3,592
Total Assets	157,946	318,342
Current Liabilities
Short-term bank loans	0	126,600
Accounts payable	13,423	9,377
Accrued salaries and bonus	28,313	30,434
Accrued expenses	9,573	19,968
Due to related parties	132,976	97,383
Loan from shareholders, current portion	323,834	316,500
Total current liabilities	508,119	600,262
Loan from shareholders	259,068	0
Total liabilities	767,187	600,262
Stockholders' Equity
Common stock, $0.0001 par value, 120,000,000 shares authorized, 30,063,759 shares issued and outstanding as of June 30, 2015 and December 31, 2014	3,007	3,007
Additional paid-in capital	47,523	47,523
Other comprehensive income	548,259	557,884
Accumulated deficit	(1,208,030)	(890,334)
Total Stockholders' equity	(609,241)	(281,920)
Total Liabilities and Shareholders' Equity	$ 157,946	$ 318,342

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Common Stock, Par Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	120,000,000	120,000,000
Common Stock, Shares, Issued	30,063,759	30,063,759
Common Stock, Shares, Outstanding	30,063,759	30,063,759

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Sales, net	$ 2,276	$ 178,195	$ 5,786	$ 192,409
Cost of sales	99	130,422	2,263	130,740
Gross profit (loss)	2,177	47,773	3,523	61,669
Selling, general and administrative expenses	148,999	179,793	318,718	378,471
Loss from operations	(146,822)	(132,020)	(315,195)	(316,802)
Other income (expenses)
Interest income	9	1,408	274	1,551
Interest expense	(2,436)	(3,437)	(5,098)	(6,133)
Gain (loss) on foreign currency exchange	(498)	(6,001)	2,323	(1,301)
Total other income (expenses)	(2,925)	(8,030)	(2,501)	(5,883)
Loss before provision for income taxes	(149,747)	(140,050)	(317,696)	(322,685)
Provision for income taxes	0	0	0	0
Net loss	$ (149,747)	$ (140,050)	$ (317,696)	$ (322,685)
Weighted average number of common shares:
Basic and diluted	30,063,759	30,063,759	30,063,759	30,063,759
Net loss per share:
Basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
Other Comprehensive (Loss) Income:
Net loss	$ (149,747)	$ (140,050)	$ (317,696)	$ (322,685)
Foreign currency translation adjustment, net of tax	(4,802)	2,322	(9,625)	(1,322)
Comprehensive (Loss) Income	$ (154,549)	$ (137,728)	$ (327,321)	$ (324,007)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net loss	$ (317,696)	$ (322,685)
Adjustments to reconcile net income to net cash used in operating activities:
Amortization and depreciation	3,977	7,734
Allowance for inventory value decline	1,048	0
Foreign currency exchange (gain) loss	(2,322)	1,301
Changes in assets and liabilities:
Decrease in accounts receivable	101,700	228,771
Decrease (Increase) in inventory	(30,067)	110,287
Decrease (Increase) in prepaid and other assets	(439)	9,456
Increase (Decrease) in accounts payable	3,792	(224,123)
Increase (Decrease) in accrued expenses	(13,553)	3,692
Increase in due to related parties	33,016	20,190
Net cash used in operating activities	(220,544)	(165,377)
Cash flows from financing activities
Proceeds from short-term bank loans	0	264,960
Repayment of short-term bank loans	(128,290)	0
Proceeds advanced from related parties	256,580	58,980
Net cash provided by financing activities	128,290	323,940
Effect of exchange rate changes on cash and cash equivalents	3,919	2,760
Net increase (decrease) in cash and cash equivalents	(88,335)	161,323
Cash and cash equivalents
Beginning	107,028	91,801
Ending	18,693	253,124
Cash paid during the year for:
Interest expense	5,098	5,305
Income tax	$ 0	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Organization Effective April 18, 2008 Soyodo entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Omphalos, Corp., a Nevada corporation. Pursuant to the Merger Agreement, Soyodo was merged with and into the surviving corporation, Omphalos Corp. The certificate of incorporation and bylaws of the surviving corporation became the certificate of incorporation and bylaws of the Company, and the directors and officers of Soyodo became the members of the board of directors and officers of the Company. Following the execution of the Merger Agreement, the Company filed with the Secretary of State of Delaware and Nevada, a Certificate of Merger. Omphalos, Corp is incorporated on April 15, 2008 under the laws of the state of Nevada. The main purpose of the merger is to change the company’s name to Omphalos, Corp. Basis of Consolidation Going Concern There can be no assurances that there will be adequate financing available to the Company and the consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. The Company has taken certain restructuring steps to provide the necessary capital to continue its operations. These steps included: (1) Tightly budgeting and controlling all expenses; (2) Expanding product lines and recruiting a strong sales team to significantly increase sales revenue and profit in 2015; (3) The Company plans to continue actively seeing additional funding opportunities to improve and expand upon its product lines. Use of Estimates Cash and Cash Equivalents Accounts Receivable Inventory Property and Equipment Automobile 5 years Furniture and fixtures 3 years Machinery and equipment 3 to 5 years Leasehold improvements 55 years Expenditures for major renewals and betterment that extend the useful lives of property and equipment are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the asset and accumulated depreciation are removed from the accounts and the resulting profit or loss is reflected in the statement of income for the period. The accumulated depreciation is $106,459 and $101,704 at June 30, 2015 and December 31, 2014, respectively. Depreciation expense was $2,375 and $5,822 for the six months ended June 30, 2015 and 2014, respectively. Intangible Assets Revenue Recognition Research and Development Expenses Income Taxes Stock Based Compensation Compensation-Stock Compensation Loss Per Share Impairment of Long-Lived Assets Foreign-currency Transactions Translation Adjustment In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollar ($) using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from NTD into U.S. dollar are recorded in stockholders’ equity as part of accumulated other comprehensive income. Recently Issued Accounting Pronouncements — In May 2014, the FASB issued ASU 2014-9, “Revenue from Contracts with Customers”. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. For a public entity, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial position and results of operations. In August 2014, FASB issued ASU No. 2014-15, “Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern”. Under U.S. GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity's liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity's liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Accounting Standards Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met conditions which would subject these condensed consolidated financial statements for additional disclosure.

SHORT-TERM BANK LOANS

SHORT-TERM BANK LOANS	6 Months Ended
	Jun. 30, 2015
SHORT-TERM BANK LOANS [Text Block]	2. SHORT-TERM BANK LOANS On February 25, 2014, the Company entered a six-month line of credit agreement with Bank SinoPac (Taiwan). The outstanding balance bearing interest at a floating rate of prime rate plus 1.05%, of which prime rate was based on four-to-six month time deposit interest rate of Bank SinoPac(Taiwan). The actual interest rate as of December 31, 2014 was 1.99% . The Company borrowed NT$2,000,000, approximately equivalent to $63,300, on February 27, 2014, March 4, 2014, March 17, 2014, and May 5, 2014, totaling NT$8,000,000, or approximately equivalent to $253,200, and the principals were due on August 26, 2014, September 3, 2014, September 16, 2014, and November 4, 2014, respectively. The line of credit is collateralized by a real property owned by one of the Company's shareholders, and also guaranteed by the shareholder. On October 7, 2014 and December 4, 2014, the Company repaid two of line of credits that were due on September 3, 2014 and November 4, 2014, respectively. On August 26, 2014, and September 16, 2014, two bank loans, totaling NT$4,000,000, or approximately equivalent to $126,600, were extended for another six months, which are due on February 25, 2015, and March 15, 2015, respectively. On January 5, 2015 and February 25, 2015, the Company has repaid two extended line of credits in full. Interest expense of short-term bank loans was approximately $287 and $1,210 for the six months ended June 30, 2015 and 2014, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
RELATED-PARTY TRANSACTIONS [Text Block]	3. RELATED-PARTY TRANSACTIONS Operating Leases The Company leases its facility from a shareholder under an operating lease agreement which expires on January 31, 2016. The monthly base rent is approximately $1,900. Rent expense under this lease agreement amounted to approximately $10,780 and $11,130 for the six months ended June 30, 2015 and 2014, respectively. Loan from related party On July 26, 2013, the Company entered a loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$5,000,000, equivalent approximately $160,051 for working capital purpose. The term of the loan started from July 30, 2013 with maturity date on July 29, 2015. On December 31, 2013, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its officer and shareholder to advance NT$5,000,000, equivalent approximately $160,051 for working capital purpose. The term of the loan started from January 1, 2014 with maturity date on December 31, 2015. As of June 30, 2015 and December 31, 2014, there were $323,834 and $316,500 advances outstanding, respectively. Interest expense was $4,811 and $4,923 for the six months ended June 30, 2015 and 2014, respectively. Advances from related party -

CONTINGENCIES AND LEGAL PROCEED

CONTINGENCIES AND LEGAL PROCEEDINGS	6 Months Ended
	Jun. 30, 2015
CONTINGENCIES AND LEGAL PROCEEDINGS [Text Block]	4. CONTINGENCIES AND LEGAL PROCEEDINGS On January 24, 2013, Artic Automation Co., Ltd. (the “Plaintiff”) filed a complaint against All Fine Technology Co. (TWN), (the Company), at Taiwan Taoyuan District Court in Taiwan, for not paying accounts payable of NT$990,875, equivalent to approximately $32,540. The Plaintiff claimed that the Company has the obligation to pay off the dues after receiving the products. However, the Company disputed Plaintiff’s claim that the received products were defective and not able to re-sell. The case went to trial on March 20, 2013, and the court pronounced its judgment that the Company had to repay the liability. An appeal was filed on December 27, 2013 by the Company. The hearing for the appeal was held on January 2, 2014 at Taiwan High Court in Taipei City, Taiwan. On April 23, 2014, the Company and the Plaintiff reached a settlement that the Company will repay NT$820,000, equivalent to approximately $26,930 to the Plaintiff on May 7, 2014. As such, the case was closed. The liability has been paid off as of December 31, 2014.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
SUBSEQUENT EVENTS [Text Block]	5. SUBSEQUENT EVENTS On July 5, 2015, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$10,000,000 for working capital purpose. As of June 30, 2015, the outstanding balance was approximately $259,068. The term of the loan started from July 1, 2015 with maturity date on June 30, 2018.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Basis of Presentation [Policy Text Block]	Basis of Presentation
Organization [Policy Text Block]	Organization Effective April 18, 2008 Soyodo entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Omphalos, Corp., a Nevada corporation. Pursuant to the Merger Agreement, Soyodo was merged with and into the surviving corporation, Omphalos Corp. The certificate of incorporation and bylaws of the surviving corporation became the certificate of incorporation and bylaws of the Company, and the directors and officers of Soyodo became the members of the board of directors and officers of the Company. Following the execution of the Merger Agreement, the Company filed with the Secretary of State of Delaware and Nevada, a Certificate of Merger. Omphalos, Corp is incorporated on April 15, 2008 under the laws of the state of Nevada. The main purpose of the merger is to change the company’s name to Omphalos, Corp.
Basis of Consolidation [Policy Text Block]	Basis of Consolidation
Going Concern [Policy Text Block]	Going Concern There can be no assurances that there will be adequate financing available to the Company and the consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. The Company has taken certain restructuring steps to provide the necessary capital to continue its operations. These steps included: (1) Tightly budgeting and controlling all expenses; (2) Expanding product lines and recruiting a strong sales team to significantly increase sales revenue and profit in 2015; (3) The Company plans to continue actively seeing additional funding opportunities to improve and expand upon its product lines.
Use of Estimates [Policy Text Block]	Use of Estimates
Cash and Cash Equivalents [Policy Text Block]	Cash and Cash Equivalents
Accounts Receivable [Policy Text Block]	Accounts Receivable
Inventory [Policy Text Block]	Inventory
Property and Equipment [Policy Text Block]	Property and Equipment Automobile 5 years Furniture and fixtures 3 years Machinery and equipment 3 to 5 years Leasehold improvements 55 years Expenditures for major renewals and betterment that extend the useful lives of property and equipment are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the asset and accumulated depreciation are removed from the accounts and the resulting profit or loss is reflected in the statement of income for the period. The accumulated depreciation is $106,459 and $101,704 at June 30, 2015 and December 31, 2014, respectively. Depreciation expense was $2,375 and $5,822 for the six months ended June 30, 2015 and 2014, respectively.
Intangible Assets [Policy Text Block]	Intangible Assets
Revenue Recognition [Policy Text Block]	Revenue Recognition
Research and Development Expenses [Policy Text Block]	Research and Development Expenses
Income Taxes [Policy Text Block]	Income Taxes
Stock Based Compensation [Policy Text Block]	Stock Based Compensation Compensation-Stock Compensation
Loss Per Share [Policy Text Block]	Loss Per Share
Impairment of Long-Lived Assets [Policy Text Block]	Impairment of Long-Lived Assets
Foreign-currency Transactions [Policy Text Block]	Foreign-currency Transactions
Translation Adjustment [Policy Text Block]	Translation Adjustment In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollar ($) using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from NTD into U.S. dollar are recorded in stockholders’ equity as part of accumulated other comprehensive income.
Recently Issued Accounting Pronouncements [Policy Text Block]	Recently Issued Accounting Pronouncements — In May 2014, the FASB issued ASU 2014-9, “Revenue from Contracts with Customers”. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. For a public entity, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial position and results of operations. In August 2014, FASB issued ASU No. 2014-15, “Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern”. Under U.S. GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity's liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity's liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Accounting Standards Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met conditions which would subject these condensed consolidated financial statements for additional disclosure.

ORGANIZATION AND SUMMARY OF S12

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2015
Depreciation Computed on Straight-Line Method Over Estimated Useful Life [Table Text Block]	Automobile 5 years Furniture and fixtures 3 years Machinery and equipment 3 to 5 years Leasehold improvements 55 years

ORGANIZATION AND SUMMARY OF S13

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Organization And Summary Of Significant Accounting Policies 1	100.00%
Organization And Summary Of Significant Accounting Policies 2	$ 1,208,030
Organization And Summary Of Significant Accounting Policies 3	890,334
Organization And Summary Of Significant Accounting Policies 4	512,608
Organization And Summary Of Significant Accounting Policies 5	499,624
Organization And Summary Of Significant Accounting Policies 6	106,459
Organization And Summary Of Significant Accounting Policies 7	101,704
Organization And Summary Of Significant Accounting Policies 8	2,375
Organization And Summary Of Significant Accounting Policies 9	5,822
Organization And Summary Of Significant Accounting Policies 10	30,087
Organization And Summary Of Significant Accounting Policies 11	27,825
Organization And Summary Of Significant Accounting Policies 12	1,602
Organization And Summary Of Significant Accounting Policies 13	$ 1,912

SHORT-TERM BANK LOANS (Narrativ

SHORT-TERM BANK LOANS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Short-term Bank Loans 1	1.05%
Short-term Bank Loans 2	1.99%
Short-term Bank Loans 3	$ 2,000,000
Short-term Bank Loans 4	63,300
Short-term Bank Loans 5	8,000,000
Short-term Bank Loans 6	253,200
Short-term Bank Loans 7	4,000,000
Short-term Bank Loans 8	126,600
Short-term Bank Loans 9	287
Short-term Bank Loans 10	$ 1,210

RELATED-PARTY TRANSACTIONS (Nar

RELATED-PARTY TRANSACTIONS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Related-party Transactions 1	$ 1,900
Related-party Transactions 2	10,780
Related-party Transactions 3	$ 11,130
Related-party Transactions 4	3.00%
Related-party Transactions 5	$ 5,000,000
Related-party Transactions 6	$ 160,051
Related-party Transactions 7	3.00%
Related-party Transactions 8	$ 5,000,000
Related-party Transactions 9	160,051
Related-party Transactions 10	323,834
Related-party Transactions 11	316,500
Related-party Transactions 12	4,811
Related-party Transactions 13	4,923
Related-party Transactions 14	132,976
Related-party Transactions 15	$ 97,383

CONTINGENCIES AND LEGAL PROCE16

CONTINGENCIES AND LEGAL PROCEEDINGS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Contingencies And Legal Proceedings 1	$ 990,875
Contingencies And Legal Proceedings 2	32,540
Contingencies And Legal Proceedings 3	820,000
Contingencies And Legal Proceedings 4	$ 26,930

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Subsequent Events 1	3.00%
Subsequent Events 2	$ 10,000,000
Subsequent Events 3	$ 259,068

Depreciation Computed on Straig

Depreciation Computed on Straight-Line Method Over Estimated Useful Life (Details)	6 Months Ended
	Jun. 30, 2015USD ($)yr
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 1	5
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 2	3
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 3 | $	$ 3
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 4	5
Organization And Summary Of Significant Accounting Policies Depreciation Computed On Straight-line Method Over Estimated Useful Life 5	55