ULURU 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 14, 2017
Entity Information [Line Items]
Entity Registrant Name	ULURU Inc.
Entity Central Index Key	1,168,220
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		201,349,431
Series A Preferred Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Series B Preferred Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 5,454,561	$ 36,615
Accounts receivable, net	2,611	61,788
Inventory	549,824	559,600
Prepaid expenses and deferred charges	37,436	135,394
Total Current Assets	6,044,432	793,397
Property, Equipment and Leasehold Improvements, net	64,684	126,741
Other Assets
Intangible asset - patents, net	198,411	216,781
Intangible asset - licensing rights, net	3,866,498	3,181,087
Deposits	18,069	18,069
Total Other Assets	4,082,978	3,415,937
TOTAL ASSETS	10,192,094	4,336,075
Current Liabilities
Accounts payable	2,174,138	2,026,671
Accrued liabilities	161,628	315,300
Accrued interest	36,644	53
Promissory note payable, current portion	0	20,000
Deferred revenue, current portion	34,294	45,764
Total Current Liabilities	2,406,704	2,407,788
Long Term Liabilities
Convertible notes payable, net of unamortized debt discount and debt issuance costs	390,714	0
Deferred revenue, net of current portion	355,604	358,462
Total Long Term Liabilities	746,318	358,462
TOTAL LIABILITIES	3,153,022	2,766,250
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common Stock - $0.001 par value; 200,000,000 shares authorized; 76,349,431 and 62,974,431 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	76,349	62,974
Additional paid-in capital	68,682,507	62,220,850
Accumulated (deficit)	(61,719,785)	(60,713,999)
TOTAL STOCKHOLDERS' EQUITY	7,039,072	1,569,825
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	10,192,094	4,336,075
Series A Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred stock	0	0
Series B Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred stock	$ 1	$ 0

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
STOCKHOLDERS' EQUITY
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000	20,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	76,349,431	62,974,431
Common stock, shares outstanding (in shares)	76,349,431	62,974,431
Series A Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Shares designated (in shares)	1,000	1,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series B Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Shares designated (in shares)	1,250	1,250
Preferred stock, shares issued (in shares)	1,250	0
Preferred stock, shares outstanding (in shares)	1,250	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues
License fees	$ 1,436	$ 259,813	$ 2,858	$ 361,089
Product sales, net	2,878	4,520	218,573	12,036
Total Revenues	4,314	264,333	221,431	373,125
Costs and Expenses
Cost of product sold	345	528	82,279	1,451
Research and development	48,192	135,331	108,321	271,490
Selling, general and administrative	329,923	384,900	724,530	703,701
Amortization of intangible assets	113,027	199,526	202,334	398,162
Depreciation	32,842	33,165	65,558	66,330
Total Costs and Expenses	524,329	753,450	1,183,022	1,441,134
Operating (Loss)	(520,015)	(489,117)	(961,591)	(1,068,009)
Other Income (Expense)
Interest and miscellaneous income	2	515	4	537
Interest expense	(133,864)	(44,445)	(155,141)	(91,203)
Foreign currency transaction gain (loss)	(3,181)	(3,196)	(3,071)	1,090
Gain on settlement of liability	114,013	0	114,013	0
Accommodation fee due on promissory note	0	0	0	(25,000)
(Loss) Before Income Taxes	(543,045)	(536,243)	(1,005,786)	(1,182,585)
Income taxes	0	0	0	0
Net (Loss)	$ (543,045)	$ (536,243)	$ (1,005,786)	$ (1,182,585)
Basic and diluted net (loss) per common share (in dollars per share)	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average number of common shares outstanding (in shares)	76,349,431	62,974,431	69,772,774	50,316,681

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
OPERATING ACTIVITIES :
Net loss	$ (1,005,786)	$ (1,182,585)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of intangible assets	202,334	398,162
Depreciation	65,558	66,330
Share-based compensation for stock and options issued to employees	8,697	15,913
Share-based compensation for options issued to non-employees	0	30,102
Amortization of debt discount on promissory note	87,006	26,012
Amortization of debt issuance costs	1,916	18,658
Change in operating assets and liabilities:
Accounts receivable	59,177	39,080
Inventory	9,776	(50,618)
Prepaid expenses and deferred charges	97,958	72,080
Deposits	0	(2,895)
Accounts payable	147,467	31,190
Accrued liabilities	(153,672)	(115,457)
Accrued interest	36,591	2,864
Deferred revenue	(14,328)	(321,089)
Total	548,480	210,332
Net Cash Used in Operating Activities	(457,306)	(972,253)
INVESTING ACTIVITIES :
Purchase of equipment	(3,501)	0
Net Cash Used in Investing Activities	(3,501)	0
FINANCING ACTIVITIES :
Proceeds from issuance of convertible notes and warrant, net	983,092	0
Proceeds from sale of preferred stock, net	4,915,661	0
Proceeds from sale of common stock and warrants, net	0	1,732,338
Offering costs associated with acquisition of licensing rights in 2015	0	(21,950)
Additional principle due on promissory note due to accommodation fee	0	25,000
Proceeds from issuance of promissory notes	120,000	0
Repayment of principle due on promissory notes	(140,000)	(225,000)
Net Cash Provided by Financing Activities	5,878,753	1,510,388
Net Increase in Cash	5,417,946	538,135
Cash, beginning of period	36,615	180,000
Cash, end of period	5,454,561	718,135
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Cash paid for interest	2,672	14,239
Non-cash investing and financing activities:
Issuance of common stock for acquisition of licensing rights	869,375	0
Issuance of common stock for principle due on promissory note	0	45,000
Issuance of common stock for interest due on promissory note	0	2,239
Issuance of common stock for services	$ 0	$ 36,000

COMPANY OVERVIEW AND BASIS OF P

COMPANY OVERVIEW AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2017
COMPANY OVERVIEW AND BASIS OF PRESENTATION [Abstract]
COMPANY OVERVIEW AND BASIS OF PRESENTATION	NOTE 1. COMPANY OVERVIEW AND BASIS OF PRESENTATION Company Overview ULURU Inc. (hereinafter “we”, “our”, “us”, “ULURU”, or the “Company”) is a Nevada corporation. We are a specialty medical technology company committed to developing and commercializing a range of innovative wound care and mucoadhesive film products based on our patented Nanoflex® and OraDisc TM Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and include the accounts of ULURU Inc., a Nevada corporation, and its wholly-owned subsidiary, Uluru Delaware Inc., a Delaware corporation. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position as of June 30, 2017 and the results of its operations for the three and six months ended June 30, 2017 and 2016 and cash flows for the six months ended June 30, 2017 and 2016 have been made. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates and assumptions. These differences are usually minor and are included in our consolidated financial statements as soon as they are known. Our estimates, judgments, and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, referred to as our 2016 Form 10-K as filed with the Securities and Exchange Commission on April 17, 2017, including the risk factors set forth therein.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies used in preparation of these condensed consolidated financial statements for the three and six months ended June 30, 2017 are consistent with those discussed in Note 2 to the consolidated financial statements in our 2016 Form 10-K, as filed with the Securities and Exchange Commission on April 17, 2017.

THE EFFECT OF RECENTLY ISSUED A

THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS	6 Months Ended
	Jun. 30, 2017
THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS [Abstract]
THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS	NOTE 3. THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS There were no new accounting pronouncements adopted or enacted during the periods presented that had, or are expected to have, a material impact on our financial statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2017
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	NOTE 4. SEGMENT INFORMATION Our entire business is managed by a single management team, which reports to the Chief Executive Officer. Our corporate headquarters in the United States collects proceeds from product sales, licensing fees, and royalties from our arrangements with external customers and licensees. Our revenues are currently derived primarily from distribution partners for international activities and our domestic sales activities for our products. Revenues per geographic area for the three and six months ended June 30 are summarized as follows: Three Months Ended June 30, Six months Ended June 30, Revenues 2017 % 2016 % 2017 % 2016 % Domestic $ 2,878 67 % $ 4,520 2 % $ 5,415 2 % $ 12,036 3 % International 1,436 33 % 259,813 98 % 216,016 98 % 361,089 97 % Total $ 4,314 100 % $ 264,333 100 % $ 221,431 100 % $ 373,125 100 % A significant portion of our revenues are derived from a few major customers. For the three months ended June 30, 2017 and 2016, three customers and one customer, respectively, had greater than 10% of total revenues and represented in the aggregate 66% and 88%, respectively, of total revenues. For the six months ended June 30, 2017 and 2016, one customer and two customers, respectively, had greater than 10% of total revenues and represented in the aggregate 97% and 89%, respectively, of total revenues.

INVENTORY

INVENTORY	6 Months Ended
	Jun. 30, 2017
INVENTORY [Abstract]
INVENTORY	NOTE 5. INVENTORY As of June 30, 2017, our inventory was comprised of Altrazeal® finished goods, manufacturing costs incurred in the production of Altrazeal®, and raw materials. Inventories are stated at the lower of cost (first in, first out method) or net realizable value. We regularly review inventories on hand and write down the carrying value of our inventories for excess and potentially obsolete inventories based on historical usage and estimated future usage. In assessing the ultimate realization of our inventories, we are required to make judgments as to future demand requirements. As actual future demand or market conditions may vary from those projected by us, adjustment to inventories may be required. The components of inventory, at the different stages of production, consisted of the following at June 30, 2017 and December 31, 2016: Inventory June 30, 2017 December 31, 2016 Raw materials $ 32,532 $ 35,800 Work-in-progress 414,106 424,741 Finished goods 103,186 99,059 Total $ 549,824 $ 559,600

PROPERTY, EQUIPMENT and LEASEHO

PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS	6 Months Ended
	Jun. 30, 2017
PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS [Abstract]
PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS	NOTE 6. PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS Property, equipment and leasehold improvements, net, consisted of the following at June 30, 2017 and December 31, 2016: Property, equipment and leasehold improvements June 30, 2017 December 31, 2016 Laboratory equipment $ 424,888 $ 424,888 Manufacturing equipment 1,604,894 1,604,894 Computers, office equipment, and furniture 154,781 151,280 Computer software 4,108 4,108 Leasehold improvements 95,841 95,841 2,284,512 2,281,011 Less: accumulated depreciation and amortization (2,219,828 ) (2,154,270 ) Property, equipment and leasehold improvements, net $ 64,684 $ 126,741 Depreciation expense on property, equipment and leasehold improvements was $32,842 and $33,165 for the three months ended June 30, 2017 and 2016, respectively, and was $65,558 and $66,330 for the six months ended June 30, 2017 and 2016, respectively.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2017
INTANGIBLE ASSETS [Abstract]
INTANGIBLE ASSETS	NOTE 7. INTANGIBLE ASSETS Patents Intangible patent assets are comprised of patents acquired in October, 2005. Intangible assets, net consisted of the following at June 30, 2017 and December 31, 2016: Intangible assets – patents June 30, 2017 December 31, 2016 Patent - Amlexanox (Aphthasol®) $ 2,090,000 $ 2,090,000 Patent - Amlexanox (OraDisc™ A) 6,873,080 6,873,080 Patent - OraDisc™ 73,000 73,000 Patent - Hydrogel nanoparticle aggregate 589,858 589,858 9,625,938 9,625,938 Less: accumulated amortization (7,400,217 ) (7,381,847 ) Less: reserve for impairment (2,027,310 ) (2,027,310 ) Intangible assets - patents, net $ 198,411 $ 216,781 Amortization expense for intangible patents assets was $9,236 and $118,461 for the three months ended June 30, 2017 and 2016, respectively, and was $18,370 and $236,924 for the six months ended June 30, 2017 and 2016, respectively. The future aggregate amortization expense for intangible patent assets, remaining as of June 30, 2017, is as follows: Calendar Years Future Amortization Expense 2017 (Six months) $ 18,674 2018 37,044 2019 37,044 2020 37,145 2021 37,044 2022 & Beyond 31,460 Total $ 198,411 Licensing rights Acquisition of Licensing Rights – 2017 On February 27, 2017, we entered into a Note, Warrant and Preferred Stock Purchase Agreement (the “Purchase Agreement”) with Velocitas Partners, LLC (“Velocitas") and Velocitas I LLC (“Velo LLC”), an entity controlled by Velocitas, with respect to an aggregate financing of up to $6,000,000. Refer to a description in greater detail of the financing event with Velocitas and Velo LLC in Note 10. Convertible Debt. At the second closing of the financing event with Velocitas and Velo LLC, which occurred on March 31, 2017, the Company acquired the Altrazeal distributor agreements Velocitas had with its sub-distributors in exchange for the issuance of 13,375,000 shares of Common Stock. The Company has valued the acquisition of the Altrazeal distributor agreement from Velocitas at $869,375 based on the closing price of $0.065 per share of the Company’s Common Stock on March 31, 2017. Licensing rights, net consisted of the following at June 30, 2017 and December 31, 2016: Intangible assets - licensing rights June 30, 2017 December 31, 2016 Intangible assets – licensing rights, gross $ 4,381,881 $ 3,512,506 Less: accumulated amortization (515,383 ) (331,419 ) Intangible assets - licensing rights, net $ 3,866,498 $ 3,181,087 Amortization expense for intangible licensing rights assets was $103,791 and $81,065 for the three months ended June 30, 2017 and 2016, respectively, and was $183,964 and $161,238 for the six months ended June 30, 2017 and 2016, respectively. The future aggregate amortization expense for intangible licensing rights assets, remaining as of June 30, 2017, is as follows: Calendar Years Future Amortization Expense 2017 (Six months) $ 209,862 2018 416,303 2019 416,303 2020 416,303 2021 416,303 2022 & Beyond 1,991,424 Total $ 3,866,498

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2017
ACCRUED LIABILITIES [Abstract]
ACCRUED LIABILITIES	NOTE 8. ACCRUED LIABILITIES Accrued liabilities consisted of the following at June 30, 2017 and December 31, 2016: Accrued Liabilities June 30, 2017 December 31, 2016 Accrued compensation/benefits $ 121,170 $ 274,874 Accrued insurance payable 5,916 40,422 Accrued property taxes 2,700 --- Accrued royalties 31,797 --- Product rebates/returns 45 4 Total accrued liabilities $ 161,628 $ 315,300

PROMISSORY NOTES PAYABLE

PROMISSORY NOTES PAYABLE	6 Months Ended
	Jun. 30, 2017
PROMISSORY NOTES PAYABLE [Abstract]
PROMISSORY NOTES PAYABLE	NOTE 9. PROMISSORY NOTES PAYABLE On December 15, 2016, January 18, 2017, and February 16, 2017, we issued Promissory Notes to Velocitas with purchase prices of $20,000, $65,000, and $30,000, respectively. Each of the Promissory Notes bore interest at the rate of 6.0% per annum with payment of principal and interest due on the earlier of (i) 180 days from the date of issuance, (ii) the date of closing of any debt or equity financing transaction by and between Uluru and Velocitas, or (iii) the payment to Uluru of certain invoices due from selected Company’s distributors. Each of the Promissory Notes was secured by a pledge of certain product inventory and there were no debt issuance costs incurred by the Company. On February 27, 2017, each of the Promissory Notes was repaid in connection with the issuance of the Convertible Promissory Note dated February 27, 2017 in the amount of $500,000 (the “Initial Note”) under the Purchase Agreement with Velocitas. On February 21, 2017, we issued a promissory note to Kirkwood Investors, Inc. (“Kirkwood”) with a purchase price of $25,000. The promissory note bore interest at the rate of 6.0% per annum with payment of principal and interest due on the earlier of (i) 60 days from the date of issuance, (ii) the date of closing of any debt or equity financing transaction by Uluru, or (iii) no later than two days after receiving written request by Kirkwood. The promissory note was secured by a pledge of certain product inventory and accounts receivables and there were no debt issuance costs incurred by the Company. The Company’s Vice President and Chief Financial Officer, Terrance K. Wallberg, is President and sole shareholder of Kirkwood. On February 27, 2017, the outstanding promissory note to Kirkwood was repaid in connection with the issuance of the Initial Note under the Purchase Agreement with Velocitas.

CONVERTIBLE DEBT

CONVERTIBLE DEBT	6 Months Ended
	Jun. 30, 2017
CONVERTIBLE DEBT [Abstract]
CONVERTIBLE DEBT	NOTE 10. CONVERTIBLE DEBT Debt Financing – February and March 2017 On February 27, 2017, the Company entered into the Purchase Agreement with Velocitas and Velo LLC under which the Company received gross proceeds of $6,000,000, in two closing with the initial closing occurring on February 27, 2017 and the second closing occurring on March 31, 2017, which we refer to as the March 2017 Offering. The first closing, which occurred on February 27, 2017, included the purchase by Velocitas at face value of the $500,000 Initial Note, with the Initial Note accruing interest at 12.5% per annum and having a term of two years (subject to acceleration under certain circumstances). The second closing, which occurred on March 31, 2017, included the purchase by Velocitas at face value the additional $500,000 Secured Convertible Note dated March 31, 2017 (the “Second Note”) with the Second Note accruing interest at 12.5% per annum and having a term of two years (subject to acceleration under certain circumstances), and Velo LLC purchasing 1,250 shares of Series B Convertible Preferred Stock of the Company for gross proceeds of $5,000,000, at an as-converted-to-Common Stock purchase price of $0.04 per share. The Initial Note and the Second Note are convertible into shares of Common Stock at a conversion price of $0.04 per share, subject to equitable adjustments, with mandatory conversion of all unpaid principal and interest required on the second anniversary of each Note. The Initial Note and the Second Note are secured by all of the assets of the Company and its subsidiaries pursuant to a Security Agreement executed at the initial closing. The Series B Convertible Preferred Stock that was issued in connection with the second closing, (a) voted together with the Common Stock as a single class (subject to standard protective provisions for the Series B Convertible Preferred Stock), (b) had the same dividend rights as the Common Stock, (c) had a liquidation preference equal to the greater of its purchase price and its as converted-to-Common Stock value, (d) automatically converted into Common Stock when the number of authorized shares of Common Stock is increased within 190 days of the second closing as necessary to permit all outstanding convertible or exercisable securities (including the Series B Convertible Preferred Stock) to convert to Common Stock, and (e) was convertible into Common Stock at the discretion of the holder, subject to the availability of authorized shares. On August 1, 2017, all 1,250 outstanding shares of Series B Convertible Preferred Stock converted into 125,000,000 shares of Common Stock as a result of the approval by the stockholders at the 2017 Annual Meeting of Stockholders held on July 25, 2017, and the filing in July 2017, of an amendment increasing our authorized shares of Common Stock to 750,000,000 shares. As a condition of the March 2017 Offering, the Company issued to Velocitas at the second closing a warrant to purchase up to 57,055,057 shares of Common Stock (the “Warrant”). The Warrant has an exercise price of $0.04 per share, a 10-year term and is subject to cashless exercise. In addition, at the second closing, the Company acquired the Altrazeal distributor agreements Velocitas had with its sub-distributors in exchange for the issuance of 13,375,000 shares of Common Stock. The Company, Velocitas, Velo LLC, and certain affiliates also signed a Voting Agreement (the “Voting Agreement”) pursuant to which the parties agreed to set the size of the Board of Directors at six directors, and agreed to vote for the election to the Board of Directors of four persons designated by Velocitas (initially to be Anish Shah, Oksana Tiedt, Vaidehi Shah and Arindam Bose), one director designated by Bradley J. Sacks and one additional director designated by a major investor or by the Board of Directors. In addition, the parties to the Voting Agreement have agreed to vote in favor of a proposal to amend the Company’s articles of incorporation to increase the authorized shares as required to permit the conversion of the Series B Convertible Preferred Stock. In addition, the Company, Velocitas, Velo LLC, and certain affiliates entered into an Investor Rights Agreement (the “Investor Rights Agreement”) that provides the parties thereto with demand Form S-3 and piggy back registration rights, Rule 144 information rights, and right of first offer (or preemptive rights) in connection with future sales of securities by the Company (subject to standard exceptions). The Investor Rights Agreement includes indemnification obligations associated with the registration rights. Michael I. Sacks and Bradley Sacks and affiliates are parties to the Investor Rights Agreement, in part in exchange for the termination by certain of such persons and The Punch Trust of a Registration Rights Agreement dated as of January 31, 2014. As required by the Purchase Agreement, at the initial closing, the Company appointed Ms. Vaidehi Shah to serve as the Company’s Chief Executive Officer and to also serve as a member of the Company’s Board of Directors. Concurrent with the initial closing and as a condition of the March 2017 Offering, the Company received resignation notices from Helmut Kerschbaumer, the Company’s Interim President, Chief Executive and Director, and Klaus Kuehne, a member of the Company’s Board of Directors. As required by the Purchase Agreement, at the second closing, the Company appointed Mr. Anish Shah and Ms. Oksana Tiedt to join the Company and to serve as part of the Company’s executive management team and together with Mr. Arindam Bose to join the Company’s Board of Directors. Concurrent with the second closing and as a condition of the Financing, the Company received resignation notices from Robert F. Goldrich and Terrance K. Wallberg, each being a member of the Company’s Board of Directors. Mr. Wallberg continues to serve as the Company’s Vice President, Chief Financial Officer, Secretary, and Treasurer. Also occurring at the second closing, Mr. Bradley J. Sacks stepped down as Chairman of the Board of Directors and Ms. Vaidehi Shah, the Company’s Chief Executive Officer and Director, assumed such duties. Mr. Sacks continues to serve as a Director of the Company. Using specific guidelines in accordance with U.S. GAAP, we allocated the value of the proceeds received to the promissory note and to the warrant on a relative fair value basis. We calculated the fair value of the warrant issued with the debt instrument using the Black-Scholes valuation method, using the same assumptions used for valuing employee stock options, except the contractual life of the warrant was used. Using the effective interest method, the allocated fair value of the warrant was recorded as a debt discount and is being amortized over the expected term of the promissory note to interest expense. Information relating to the Initial Note and Second Note is as follows: As of June 30, 2017 Transaction Initial Principal Amount Interest Rate Maturity Date Conversion Price Principal Balance Unamortized Debt Discount Unamortized Debt Issuance Costs Carrying Value Initial Note $ 500,000 12.5 % 02/27/2019 $ 0.04 $ 500,000 $ 297,147 $ 7,496 $ 195,357 Second Note $ 500,000 12.5 % 03/31/2019 $ 0.04 $ 500,000 $ 297,147 $ 7,496 $ 195,357 Total $ 1,000,000 $ 1,000,000 $ 594,294 $ 14,992 $ 390,714 As part of the Initial Note and the Second Note, at the holder’s option, all unpaid principle and interest due under each convertible promissory note may be converted into shares of Common Stock based on a conversion price of $0.04 per share. The Initial Note and the Second Note matures on February 27, 2019 and March 31, 2019, respectively, and on each maturity date each convertible promissory note, and accrued interest thereon, is subject to mandatory conversion based on a conversion price of $0.04 per share. The amount of interest cost recognized from our promissory notes and our convertible debt was $31,165 and $4,747 for the three months ended June 30, 2017 and 2016, respectively, and $37,341 and $12,973 for the six months ended June 30, 2017 and 2016, respectively. The amount of debt discount amortized from our promissory notes and our convertible debt was $87,006 and $12,997 for the three months ended June 30, 2017 and 2016, respectively, and $87,006 and $26,012 for the six months ended June 30, 2017 and 2016, respectively. The amount of debt issuance costs amortized from our promissory notes was $1,916 and $9,290 for the three months ended June 30, 2017 and 2016, respectively, and $1,916 and $18,658 for the six months ended June 30, 2017 and 2016, respectively.

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	6 Months Ended
	Jun. 30, 2017
EQUITY TRANSACTIONS [Abstract]
EQUITY TRANSACTIONS	NOTE 11. EQUITY TRANSACTIONS Preferred Stock Transaction March 2017 Offering On February 27, 2017, the Company entered into a Note, Warrant and Preferred Stock Purchase Agreement (the “Purchase Agreement”) with Velocitas and Velo LLC under which the Company received gross proceeds of $6,000,000, in two closing with the initial closing occurring on February 27, 2017 and the second closing occurring on March 31, 2017 (the “March 2017 Offering”). The second closing included, among other transaction components, the purchase by Velo LLC of 1,250 shares of Series B Convertible Preferred Stock of the Company for $5,000,000. Refer to a description in greater detail of the financing event with Velocitas and Velo LLC in Note 10. Convertible Debt. Common Stock Transaction March 2016 Offering On March 29, 2016, we entered into a Stock Purchase Agreement with fifteen investors for the offer and sale of 25,245,442 shares of Common Stock and warrants to purchase an additional 25,245,442 shares of Common Stock at a purchase price of $0.0713 per unit, with each unit consisting of one share and one warrant to purchase Common Stock, for an aggregate purchase price of $1,800,000 (the “March 2016 Offering). The issue price of the shares sold was based on a 10% discount to the average closing price between March 7, 2016 and March 11, 2016 and the warrant exercise price was based on a 10% premium to the same average closing price. The warrants have an exercise price of $0.0871 per share and a five-year term. The warrants also include cashless exercise provisions and a “full ratchet” anti-dilution provision under which the exercise price of such warrants resets to any lower sales price at which the Company offers or sells Common Stock or Common Stock equivalents for one year (subject to standard exceptions). The March 2016 Offering resulted in gross proceeds of $1,800,000, of which $1,439,000 was received in March 2016 and $361,000 was received in April 2016. As part of the offering expenses, we paid to a European placement agent a referral fee of $26,000 which is equal to 10% of the gross proceeds, provided that the investors referred by such placement agent are not U.S. Persons and were solicited outside the United States. Purchasers in the March 2016 Offering include Michael I. Sacks ($1,000,000), the father of Bradley J. Sacks, the former Chairman of our Board of Directors, Centric Capital Ventures, LLC ($19,000), an investment entity controlled by Bradley J. Sacks, Terrance K. Wallberg ($50,000), our Vice President and Chief Financial Officer, and Daniel G. Moro ($10,000), our former Vice President of Polymer Drug Delivery.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2017
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	NOTE 12. STOCKHOLDERS’ EQUITY Common Stock As of June 30, 2017, we had 76,349,431 shares of Common Stock issued and outstanding. For the six months ended June 30, 2017, we issued 13,375,000 shares of Common Stock to Velocitas for the acquisition of licensing rights. Preferred Stock As of June 30, 2017, we had no shares of Series A Preferred Stock (the “Series A Shares”) issued and outstanding. For the six months ended June 30, 2017, we did not issue or redeem any Series A Shares. As of June 30, 2017, we had 1,250 shares of Series B Preferred Stock (the “Series B Shares”) issued and outstanding. For the six months ended June 30, 2017, we issued 1,250 Series B Shares to Velocitas and did not redeem any Series B Shares. Warrants The following table summarizes the warrants outstanding and the number of shares of Common Stock subject to exercise as of June 30, 2017 and the changes therein during the six months then ended: Number of Shares of Common Stock Subject to Exercise Weighted – Average Exercise Price Balance as of December 31, 2016 26,179,560 $ 0.11 Warrants issued 57,055,057 $ 0.04 Warrants exercised --- --- Warrants cancelled --- --- Balance as of June 30, 2017 83,234,617 $ 0.06 For the six months ended June 30, 2017, we issued a warrant to purchase up to an aggregate of 57,055,057 shares of our Common Stock at an exercise price of $0.04 per share pursuant to the March 2017 Offering. Of the warrant shares subject to exercise as of June 30, 2017, expiration of the right to exercise is as follows: Date of Expiration Number of Warrant Shares of Common Stock Subject to Expiration March 14, 2018 660,000 January 15, 2019 80,000 April 30, 2020 194,118 March 30, 2021 25,245,442 March 31, 2027 57,055,057 Total 83,234,617

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 13. EARNINGS PER SHARE Basic and Diluted Net Loss Per Share In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings per Share Shares used in calculating basic and diluted net loss per common share exclude these potential common shares as of June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 Warrants to purchase Common Stock 83,234,617 26,179,560 Stock options to purchase Common Stock 227,403 691,237 Common stock issuable upon the assumed conversion of our convertible promissory notes (1) 31,250,000 --- Common stock issuable upon the assumed conversion of our Series B preferred stock (2) 125,000,000 --- Total 239,712,020 26,870,797 (1) As part of the Initial Note and the Second Note, at the holder’s option, all unpaid principle and interest due under each convertible promissory note may be converted into shares of Common Stock based on a conversion price of $0.04 per share. The Initial Note and the Second Note matures on February 27, 2019 and March 31, 2019, respectively, and on each maturity date each convertible promissory note, and accrued interest thereon, is subject to mandatory conversion based on a conversion price of $0.04 per share. For the purposes of this Table, we have assumed that all outstanding principal and interest will be converted on each applicable maturity date. (2) Pursuant to the March 2017 Offering, Velo LLC purchased 1,250 shares of Series B Convertible Preferred Stock of the Company for $5,000,000. The Series B Convertible Preferred Stock that was issued in the March 2017 Offering, (a) voted together with the Common Stock as a single class (subject to standard protective provisions for the Series B Convertible Preferred Stock), (b) had the same dividend rights as the Common Stock, (c) had a liquidation preference equal to the greater of its purchase price and its as converted-to-Common Stock value, (d) automatically converted into Common Stock when the number of authorized shares of Common Stock was increased within 190 days of the second closing as necessary to permit all outstanding convertible or exercisable securities (including the Series B Convertible Preferred Stock) to convert to Common Stock, and (e) was convertible into Common Stock at the discretion of the holder, subject to the availability of authorized shares, at an as-converted-to-Common Stock purchase price of $0.04 per share. On August 1, 2017, all 1,250 outstanding shares of Series B Convertible Preferred Stock converted into 125,000,000 shares of Common Stock as a result of the approval by the stockholders at the 2017 Annual Meeting of Stockholders held on July 25, 2017, and the filing in July 2017, of an amendment increasing our authorized shares of Common Stock to 750,000,000 shares.

SHARE BASED COMPENSATION

SHARE BASED COMPENSATION	6 Months Ended
	Jun. 30, 2017
SHARE BASED COMPENSATION [Abstract]
SHARE BASED COMPENSATION	NOTE 14. SHARE BASED COMPENSATION The Company’s share-based compensation plan, the 2006 Equity Incentive Plan, as amended (“Equity Incentive Plan”), is administered by the Board of Directors (“Board”), which selects persons to receive awards and determines the number of shares subject to each award and the terms, conditions, performance measures and other provisions of the award. Our Board did not grant any incentive stock option awards to executives or employees or any non-statutory stock option awards to directors or non-employees for the three and six months ended June 30, 2017 and 2016, respectively. We account for share-based compensation under FASB ASC Topic 718, Stock Compensation Stock Options (Incentive and Nonstatutory) The following table summarizes share-based compensation related to stock options for the three and six months ended June 30: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Research and development $ 1,682 $ 323 $ 3,345 $ 8,993 Selling, general and administrative 2,691 17,825 5,352 37,022 Total share-based compensation expense $ 4,373 $ 18,148 $ 8,697 $ 46,015 As of June 30, 2017, the balance of unearned share-based compensation to be expensed in future periods related to unvested stock option awards, as adjusted for expected forfeitures, is approximately $4,200. The period over which the unearned share-based compensation is expected to be recognized is approximately three months. The following table summarizes the stock options outstanding and the number of shares of Common Stock subject to exercise as of June 30, 2017 and the changes therein during the six months then ended: Stock Options Weighted Average Exercise Price per Share Outstanding as of December 31, 2016 691,237 $ 1.94 Granted --- --- Forfeited/cancelled (463,834 ) $ 1.16 Exercised --- --- Outstanding as of June 30, 2017 227,403 $ 3.54 The following table presents the stock option grants outstanding and exercisable as of June 30, 2017: Options Outstanding Options Exercisable Stock Options Outstanding Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life in Years Stock Options Exercisable Weighted Average Exercise Price per Share 140,000 $ 0.33 5.7 140,000 $ 0.33 65,000 1.15 7.2 65,000 1.15 22,403 30.48 0.8 22,403 30.48 227,403 $ 3.54 5.7 227,403 $ 3.54 Summary of Plans 2006 Equity Incentive Plan In March 2006, our Board adopted and our stockholders approved our Equity Incentive Plan, which initially provided for the issuance of up to 133,333 shares of our Common Stock pursuant to stock option and other equity awards. At the annual meetings of the stockholders held on May 8, 2007, December 17, 2009, June 15, 2010, June 14, 2012, June 13, 2013, and on June 5, 2014, our stockholders approved amendments to the Equity Incentive Plan to increase the total number of shares of Common Stock issuable under the Equity Incentive Plan pursuant to stock options and other equity awards by 266,667 shares, 200,000 shares, 200,000 shares, 400,000 shares, 600,000 shares, and 1,000,000 shares, respectively, to a total of 2,800,000 shares. In December 2006, we began issuing stock options to employees, consultants, and directors. The stock options issued generally vest over a period of one to four years and have a maximum contractual term of ten years. In January 2007, we began issuing restricted stock awards to our employees. Restricted stock awards generally vest over a period of six months to five years after the date of grant. Prior to vesting, restricted stock awards do not have dividend equivalent rights, do not have voting rights and the shares underlying the restricted stock awards are not considered issued and outstanding. Shares of Common Stock are issued on the date the restricted stock awards vest. As of June 30, 2017, we had granted options to purchase 2,061,167 shares of Common Stock since the inception of the Equity Incentive Plan, of which 227,403 were outstanding at a weighted average exercise price of $3.54 per share, and we had granted awards for 68,616 shares of restricted stock since the inception of the Equity Incentive Plan, of which none were outstanding. As of June 30, 2017, there were 2,503,151 shares that remained available for future grants under our Equity Incentive Plan.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2017
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 15. FAIR VALUE MEASUREMENTS In accordance with FASB ASC Topic 820, Fair Value Measurements Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on our market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment. The three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies, is as follows: Level 1 — Valuations based on quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. We review the fair value hierarchy classification on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. Our financial instruments, including cash, cash equivalents, accounts receivable, and accounts payable are carried at cost, which approximates their fair value because of the short-term maturity of these instruments. We believe that the carrying value of our promissory note payable balances approximates fair value based on a valuation methodology using the income approach and a discounted cash flow model. The following table summarizes the fair value of our financial instruments at June 30, 2017 and December 31, 2016. Description June 30, 2017 December 31, 2016 Liabilities: Convertible promissory note – March 2017 $ 500,000 --- Convertible promissory note – February 2017 $ 500,000 --- Promissory note – December 2016 --- $ 20,000 Total $ 1,000,000 $ 20,000 Our financial instruments, including cash, cash equivalents, accounts receivable, and accounts payable are carried at cost, which approximates their fair value because of the short-term maturity of these instruments. We believe that the carrying value of our promissory notes and our convertible promissory note balances approximates fair value based on a valuation methodology using the income approach and a discounted cash flow model.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 16. INCOME TAXES For the six months ended June 30, 2017, the Company incurred a consolidated tax loss of approximately $1,655,000. As of June 30, 2017, the Company has consolidated net operating loss carryforwards and research credit carryforwards for income tax purposes of approximately $58,107,000 and $555,000 respectively. The Company has provided a full valuation allowance for all of its deferred tax assets. As a result, the effective tax rate is zero and the net deferred tax assets are zero. The Tax Reform Act of 1986 contains provisions, which limit the amount of NOL and tax credit carryforwards that companies may utilize in any one year in the event of cumulative changes in ownership over a three-year period in excess of 50%. Since the effective date of the Tax Reform Act of 1986, the Company has completed significant share issuances in 2003, 2016, and 2017 which may significantly limit our ability to utilize our NOL and tax credit carryforwards against taxable earnings in future periods.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2017
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 17. COMMITMENTS AND CONTINGENCIES Operating Leases On January 31, 2006 we entered into a lease agreement for office and laboratory space in Addison, Texas. The lease commenced on April 1, 2006 and originally continued until April 1, 2013. The lease required a minimum monthly lease obligation of $9,330, which was inclusive of monthly operating expenses, until April 1, 2011 and at such time increased to $9,776, which was inclusive of monthly operating expenses. On February 22, 2013, we executed an Amendment to Lease Agreement (the “Lease Amendment”) that renewed and extended our lease until March 31, 2015. The Lease Amendment required a minimum monthly lease obligation of $9,193, which was inclusive of monthly operating expenses, until March 31, 2014 and at such time, increased to $9,379, which was inclusive of monthly operating expenses. On March 17, 2015, we executed a Second Amendment to Lease Agreement (the “Second Amendment”) that renewed and extended our lease until March 31, 2018. The Second Amendment requires a minimum monthly lease obligation of $9,436, which is inclusive of monthly operating expenses. On January 16, 2015 we entered into a lease agreement for certain office equipment. The office equipment lease, that commenced on February 1, 2015 and continues until February 1, 2018, requires a minimum lease obligation of $551 per month. The future minimum lease payments under the 2015 office lease and the 2015 equipment lease are as follows as of June 30, 2017: Calendar Years Future Lease Expense 2017 (Six months) $ 60,601 2018 29,199 2019 --- 2020 --- Total $ 89,800 Rent expense for our operating leases amounted to $33,596 and $30,571 for the three months ended June 30, 2017 and 2016, respectively, and $65,944 and $60,531 for the six months ended June 30, 2017 and 2016, respectively. Indemnification In accordance with our restated articles of incorporation and our amended and restated bylaws, we have indemnification obligations to our officers and directors for certain events or occurrences, subject to certain limits, while they are serving at our request in their respective capacities. We have a director and officer insurance policy that enables us to recover a portion of any amounts paid for future potential claims. We have also entered into contractual indemnification agreements with each of our officers and directors. Related Party Transactions and Concentration Note, Warrant and Preferred Stock Purchase Agreement On February 27, 2017, we entered into the Purchase Agreement with Velocitas and Velo LLC, an entity controlled by Velocitas, with respect to an aggregate financing of up to $6,000,000. Refer to a description in greater detail of the financing event with Velocitas and Velo LLC in Note 10. Convertible Debt. On March 31, 2017, the second closing of the Purchase Agreement included, amongst other transaction components, the Company acquiring the Altrazeal distributor agreements Velocitas had with its sub-distributors in exchange for the issuance of 13,375,000 shares of Common Stock. The Company has valued the acquisition of the Altrazeal distributor agreement from Velocitas at $869,375 based on the closing price of $0.065 per share of the Company’s Common Stock on March 31, 2017. For the three months ended June 30, 2017 and 2016, the Company did not record any revenues with Velocitas GmbH, an affiliated entity of Velocitas. For the six months ended June 30, 2017 and 2016, the Company recorded revenues, in approximate numbers, of $215,000 and nil, respectively, with Velocitas GmbH which represented 97% and 0% of our total revenues, respectively. As of June 30, 2017 and December 31, 2016, Velocitas GmbH did not have any outstanding net accounts receivable. Consulting Agreement - Velocitas GmbH On April 1, 2017, the Company entered into a Consulting Agreement with Temporary Advances On December 15, 2016, January 18, 2017, and February 16, 2017, we issued Promissory Notes to Velocitas with purchase prices of $20,000, $65,000, and $30,000, respectively. Each of the Promissory Notes bore interest at the rate of 6.0% per annum with payment of principal and interest due on the earlier of (i) 180 days from the date of issuance, (ii) the date of closing of any debt or equity financing transaction by and between Uluru and Velocitas, or (iii) the payment to Uluru of certain invoices due from selected Company’s distributors. Each of the Promissory Notes was secured by a pledge of certain product inventory and there were no debt issuance costs incurred by the Company. On February 27, 2017, each of the Promissory Notes was repaid in connection with the issuance of the Initial Note under the Purchase Agreement with Velocitas. On February 21, 2017, we issued a promissory note to Kirkwood with a purchase price of $25,000. The promissory note bore interest at the rate of 6.0% per annum with payment of principal and interest due on the earlier of (i) 60 days from the date of issuance, (ii) the date of closing of any debt or equity financing transaction by the Company, or (iii) no later than two days after receiving written request by Kirkwood. The promissory note was secured by a pledge of certain product inventory and accounts receivables and there were no debt issuance costs incurred by the Company. The Company’s Vice President and Chief Financial Officer, Terrance K. Wallberg, is President and sole shareholder of Kirkwood. On February 27, 2017, the outstanding promissory note to Kirkwood was repaid in connection with the issuance of the Initial Note under the Purchase Agreement with Velocitas. Related Party Obligations Since 2011, our named executive officers and certain key executives have temporarily deferred portions of their compensation as part of a plan to conserve and manage the Company’s cash and financial resources. As of June 30, 2017, the Company’s obligation to these executives for temporarily deferred compensation was approximately $397,000 of which approximately $72,000 was included in accrued liabilities and $325,000 was included in accounts payable. As of December 31, 2016, the Company’s obligation to these executives for temporarily deferred compensation was approximately $473,000 of which approximately $200,000 was included in accrued liabilities and approximately $273,000 was included in accounts payable. Contingent Milestone Obligations We are subject to paying Access Pharmaceuticals, Inc. (“Access”) for certain milestones based on our achievement of certain annual net sales, cumulative net sales, and/or our having reached certain defined technology milestones including licensing agreements and advancing products to clinical development. As of June 30, 2017, the future milestone obligations that we are subject to paying Access, if the milestones related thereto are achieved, total $4,750,000. Such milestones are based on total annual sales of 20 and 40 million dollars of certain products, annual sales of 20 million dollars of any one certain product, and cumulative sales of such products of 50 and 100 million dollars. As of June 30, 2017, the Company has accrued approximately $32,000 of expense relating to future milestone payments to Access. On March 7, 2008, we terminated the license agreement with ProStrakan Ltd. for Amlexanox-related products in the United Kingdom and Ireland. As part of the termination, we agreed to pay ProStrakan Ltd. a royalty of 30% on any future payments received by us from a new licensee in the United Kingdom and Ireland territories, up to a maximum of $1,400,000. On November 17, 2008, we entered into a licensing agreement for Amlexanox-related product rights to the United Kingdom and Ireland territories with MEDA AB. Prescription Drug User Fee Obligation The Company was assessed prescription drug user fees (“PDUFA”) by the United States Department of Health and Human Services (the “DHHS”) for the sale and manufacture of Aphthasol®. The Company had contested the assessments as it believed such fees should be waived because the Company should qualify for abatement of the PDUFA fees. However, the Company’s challenge has been denied by the DHHS. As of June 30, 2017, the Company has recognized amounts due, to include potential penalties and interest, of approximately $1,054,000 related to the unpaid PDUFA fees. The PDUFA fees remain unpaid as of the date of this Quarterly Report on Form 10-Q (this “Report”). Since the Company has not yet reached a settlement with the DHHS, it is possible that the Company may be subject to additional collection costs.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Jun. 30, 2017
LEGAL PROCEEDINGS [Abstract]
LEGAL PROCEEDINGS	NOTE 18. LEGAL PROCEEDINGS From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. We are not currently a party to any legal proceedings, the adverse outcome of which, in management’s opinion, individually or in the aggregate, would have a material adverse effect on the results of our operations or financial position. There are no material proceedings to which any director, officer or any of our affiliates, any owner of record or beneficially of more than five percent of any class of our voting securities, or any associate of any such director, officer, our affiliates, or security holder, is a party adverse to us or our consolidated subsidiary or has a material interest adverse thereto; however, one or more events may lead to a formal dispute or proceeding in the future.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2017
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 19. SUBSEQUENT EVENTS On August 1, 2017, all 1,250 outstanding shares of Series B Convertible Preferred Stock converted into 125,000,000 shares of Common Stock as a result of the approval by the stockholders at the 2017 Annual Meeting of Stockholders held on July 25, 2017, and the filing in July 2017, of an amendment increasing our authorized shares of Common Stock to 750,000,000 shares.

COMPANY OVERVIEW AND BASIS OF25

COMPANY OVERVIEW AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2017
COMPANY OVERVIEW AND BASIS OF PRESENTATION [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and include the accounts of ULURU Inc., a Nevada corporation, and its wholly-owned subsidiary, Uluru Delaware Inc., a Delaware corporation. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position as of June 30, 2017 and the results of its operations for the three and six months ended June 30, 2017 and 2016 and cash flows for the six months ended June 30, 2017 and 2016 have been made. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates and assumptions. These differences are usually minor and are included in our consolidated financial statements as soon as they are known. Our estimates, judgments, and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, referred to as our 2016 Form 10-K as filed with the Securities and Exchange Commission on April 17, 2017, including the risk factors set forth therein.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2017
SEGMENT INFORMATION [Abstract]
Revenues per geographic area	Revenues per geographic area for the three and six months ended June 30 are summarized as follows: Three Months Ended June 30, Six months Ended June 30, Revenues 2017 % 2016 % 2017 % 2016 % Domestic $ 2,878 67 % $ 4,520 2 % $ 5,415 2 % $ 12,036 3 % International 1,436 33 % 259,813 98 % 216,016 98 % 361,089 97 % Total $ 4,314 100 % $ 264,333 100 % $ 221,431 100 % $ 373,125 100 %

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2017
INVENTORY [Abstract]
Components of inventory	The components of inventory, at the different stages of production, consisted of the following at June 30, 2017 and December 31, 2016: Inventory June 30, 2017 December 31, 2016 Raw materials $ 32,532 $ 35,800 Work-in-progress 414,106 424,741 Finished goods 103,186 99,059 Total $ 549,824 $ 559,600

PROPERTY, EQUIPMENT and LEASE28

PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS [Abstract]
Property, equipment and leasehold improvements	Property, equipment and leasehold improvements, net, consisted of the following at June 30, 2017 and December 31, 2016: Property, equipment and leasehold improvements June 30, 2017 December 31, 2016 Laboratory equipment $ 424,888 $ 424,888 Manufacturing equipment 1,604,894 1,604,894 Computers, office equipment, and furniture 154,781 151,280 Computer software 4,108 4,108 Leasehold improvements 95,841 95,841 2,284,512 2,281,011 Less: accumulated depreciation and amortization (2,219,828 ) (2,154,270 ) Property, equipment and leasehold improvements, net $ 64,684 $ 126,741

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2017
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	Intangible patent assets are comprised of patents acquired in October, 2005. Intangible assets, net consisted of the following at June 30, 2017 and December 31, 2016: Intangible assets – patents June 30, 2017 December 31, 2016 Patent - Amlexanox (Aphthasol®) $ 2,090,000 $ 2,090,000 Patent - Amlexanox (OraDisc™ A) 6,873,080 6,873,080 Patent - OraDisc™ 73,000 73,000 Patent - Hydrogel nanoparticle aggregate 589,858 589,858 9,625,938 9,625,938 Less: accumulated amortization (7,400,217 ) (7,381,847 ) Less: reserve for impairment (2,027,310 ) (2,027,310 ) Intangible assets - patents, net $ 198,411 $ 216,781
Future aggregate amortization expense for intangible assets	The future aggregate amortization expense for intangible patent assets, remaining as of June 30, 2017, is as follows: Calendar Years Future Amortization Expense 2017 (Six months) $ 18,674 2018 37,044 2019 37,044 2020 37,145 2021 37,044 2022 & Beyond 31,460 Total $ 198,411
Licensing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	Licensing rights, net consisted of the following at June 30, 2017 and December 31, 2016: Intangible assets - licensing rights June 30, 2017 December 31, 2016 Intangible assets – licensing rights, gross $ 4,381,881 $ 3,512,506 Less: accumulated amortization (515,383 ) (331,419 ) Intangible assets - licensing rights, net $ 3,866,498 $ 3,181,087
Future aggregate amortization expense for intangible assets	The future aggregate amortization expense for intangible licensing rights assets, remaining as of June 30, 2017, is as follows: Calendar Years Future Amortization Expense 2017 (Six months) $ 209,862 2018 416,303 2019 416,303 2020 416,303 2021 416,303 2022 & Beyond 1,991,424 Total $ 3,866,498

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2017
ACCRUED LIABILITIES [Abstract]
Accrued liabilities	Accrued liabilities consisted of the following at June 30, 2017 and December 31, 2016: Accrued Liabilities June 30, 2017 December 31, 2016 Accrued compensation/benefits $ 121,170 $ 274,874 Accrued insurance payable 5,916 40,422 Accrued property taxes 2,700 --- Accrued royalties 31,797 --- Product rebates/returns 45 4 Total accrued liabilities $ 161,628 $ 315,300

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	6 Months Ended
	Jun. 30, 2017
CONVERTIBLE DEBT [Abstract]
Information relating to convertible debt	Information relating to the Initial Note and Second Note is as follows: As of June 30, 2017 Transaction Initial Principal Amount Interest Rate Maturity Date Conversion Price Principal Balance Unamortized Debt Discount Unamortized Debt Issuance Costs Carrying Value Initial Note $ 500,000 12.5 % 02/27/2019 $ 0.04 $ 500,000 $ 297,147 $ 7,496 $ 195,357 Second Note $ 500,000 12.5 % 03/31/2019 $ 0.04 $ 500,000 $ 297,147 $ 7,496 $ 195,357 Total $ 1,000,000 $ 1,000,000 $ 594,294 $ 14,992 $ 390,714

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2017
STOCKHOLDERS' EQUITY [Abstract]
Warrants outstanding and number of shares of common stock subject to exercise	The following table summarizes the warrants outstanding and the number of shares of Common Stock subject to exercise as of June 30, 2017 and the changes therein during the six months then ended: Number of Shares of Common Stock Subject to Exercise Weighted – Average Exercise Price Balance as of December 31, 2016 26,179,560 $ 0.11 Warrants issued 57,055,057 $ 0.04 Warrants exercised --- --- Warrants cancelled --- --- Balance as of June 30, 2017 83,234,617 $ 0.06
Expiration dates for warrants subject to exercise	Of the warrant shares subject to exercise as of June 30, 2017, expiration of the right to exercise is as follows: Date of Expiration Number of Warrant Shares of Common Stock Subject to Expiration March 14, 2018 660,000 January 15, 2019 80,000 April 30, 2020 194,118 March 30, 2021 25,245,442 March 31, 2027 57,055,057 Total 83,234,617

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE [Abstract]
Common shares excluded from calculating basic and diluted net loss per common share	Shares used in calculating basic and diluted net loss per common share exclude these potential common shares as of June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 Warrants to purchase Common Stock 83,234,617 26,179,560 Stock options to purchase Common Stock 227,403 691,237 Common stock issuable upon the assumed conversion of our convertible promissory notes (1) 31,250,000 --- Common stock issuable upon the assumed conversion of our Series B preferred stock (2) 125,000,000 --- Total 239,712,020 26,870,797 (1) As part of the Initial Note and the Second Note, at the holder’s option, all unpaid principle and interest due under each convertible promissory note may be converted into shares of Common Stock based on a conversion price of $0.04 per share. The Initial Note and the Second Note matures on February 27, 2019 and March 31, 2019, respectively, and on each maturity date each convertible promissory note, and accrued interest thereon, is subject to mandatory conversion based on a conversion price of $0.04 per share. For the purposes of this Table, we have assumed that all outstanding principal and interest will be converted on each applicable maturity date. (2) Pursuant to the March 2017 Offering, Velo LLC purchased 1,250 shares of Series B Convertible Preferred Stock of the Company for $5,000,000. The Series B Convertible Preferred Stock that was issued in the March 2017 Offering, (a) voted together with the Common Stock as a single class (subject to standard protective provisions for the Series B Convertible Preferred Stock), (b) had the same dividend rights as the Common Stock, (c) had a liquidation preference equal to the greater of its purchase price and its as converted-to-Common Stock value, (d) automatically converted into Common Stock when the number of authorized shares of Common Stock was increased within 190 days of the second closing as necessary to permit all outstanding convertible or exercisable securities (including the Series B Convertible Preferred Stock) to convert to Common Stock, and (e) was convertible into Common Stock at the discretion of the holder, subject to the availability of authorized shares, at an as-converted-to-Common Stock purchase price of $0.04 per share. On August 1, 2017, all 1,250 outstanding shares of Series B Convertible Preferred Stock converted into 125,000,000 shares of Common Stock as a result of the approval by the stockholders at the 2017 Annual Meeting of Stockholders held on July 25, 2017, and the filing in July 2017, of an amendment increasing our authorized shares of Common Stock to 750,000,000 shares.

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2017
SHARE BASED COMPENSATION [Abstract]
Allocated share-based compensation expense	The following table summarizes share-based compensation related to stock options for the three and six months ended June 30: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Research and development $ 1,682 $ 323 $ 3,345 $ 8,993 Selling, general and administrative 2,691 17,825 5,352 37,022 Total share-based compensation expense $ 4,373 $ 18,148 $ 8,697 $ 46,015
Stock option activity	The following table summarizes the stock options outstanding and the number of shares of Common Stock subject to exercise as of June 30, 2017 and the changes therein during the six months then ended: Stock Options Weighted Average Exercise Price per Share Outstanding as of December 31, 2016 691,237 $ 1.94 Granted --- --- Forfeited/cancelled (463,834 ) $ 1.16 Exercised --- --- Outstanding as of June 30, 2017 227,403 $ 3.54
Stock option grants outstanding and exercisable	The following table presents the stock option grants outstanding and exercisable as of June 30, 2017: Options Outstanding Options Exercisable Stock Options Outstanding Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life in Years Stock Options Exercisable Weighted Average Exercise Price per Share 140,000 $ 0.33 5.7 140,000 $ 0.33 65,000 1.15 7.2 65,000 1.15 22,403 30.48 0.8 22,403 30.48 227,403 $ 3.54 5.7 227,403 $ 3.54

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
FAIR VALUE MEASUREMENTS [Abstract]
Fair value of our financial instruments	The following table summarizes the fair value of our financial instruments at June 30, 2017 and December 31, 2016. Description June 30, 2017 December 31, 2016 Liabilities: Convertible promissory note – March 2017 $ 500,000 --- Convertible promissory note – February 2017 $ 500,000 --- Promissory note – December 2016 --- $ 20,000 Total $ 1,000,000 $ 20,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2017
COMMITMENTS AND CONTINGENCIES [Abstract]
Future minimum lease payments	The future minimum lease payments under the 2015 office lease and the 2015 equipment lease are as follows as of June 30, 2017: Calendar Years Future Lease Expense 2017 (Six months) $ 60,601 2018 29,199 2019 --- 2020 --- Total $ 89,800

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)Customer	Jun. 30, 2016USD ($)Customer	Jun. 30, 2017USD ($)Customer	Jun. 30, 2016USD ($)Customer
Revenues per geographic area [Abstract]
Total revenues	$ 4,314	$ 264,333	$ 221,431	$ 373,125
Total revenue, percentage	100.00%	100.00%	100.00%	100.00%
Revenue [Member] | Customer Concentration Risk [Member]
Revenues per geographic area [Abstract]
Total revenue, percentage	66.00%	88.00%	97.00%	89.00%
Number of major customers | Customer	3	1	1	2
Reportable Geographical Components [Member] | Domestic [Member]
Revenues per geographic area [Abstract]
Total revenues	$ 2,878	$ 4,520	$ 5,415	$ 12,036
Total revenue, percentage	67.00%	2.00%	2.00%	3.00%
Reportable Geographical Components [Member] | International [Member]
Revenues per geographic area [Abstract]
Total revenues	$ 1,436	$ 259,813	$ 216,016	$ 361,089
Total revenue, percentage	33.00%	98.00%	98.00%	97.00%

INVENTORY (Details)

INVENTORY (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Components of inventory [Abstract]
Raw materials	$ 32,532	$ 35,800
Work-in-progress	414,106	424,741
Finished goods	103,186	99,059
Total	$ 549,824	$ 559,600

PROPERTY, EQUIPMENT and LEASE39

PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Property, equipment and leasehold improvements, net [Abstract]
Property, equipment and leasehold improvements, gross	$ 2,284,512		$ 2,284,512		$ 2,281,011
Less: accumulated depreciation and amortization	(2,219,828)		(2,219,828)		(2,154,270)
Property, equipment and leasehold improvements, net	64,684		64,684		126,741
Depreciation expense	32,842	$ 33,165	65,558	$ 66,330
Laboratory Equipment [Member]
Property, equipment and leasehold improvements, net [Abstract]
Property, equipment and leasehold improvements, gross	424,888		424,888		424,888
Manufacturing Equipment [Member]
Property, equipment and leasehold improvements, net [Abstract]
Property, equipment and leasehold improvements, gross	1,604,894		1,604,894		1,604,894
Computers, Office Equipment, and Furniture [Member]
Property, equipment and leasehold improvements, net [Abstract]
Property, equipment and leasehold improvements, gross	154,781		154,781		151,280
Computer Software [Member]
Property, equipment and leasehold improvements, net [Abstract]
Property, equipment and leasehold improvements, gross	4,108		4,108		4,108
Leasehold Improvements [Member]
Property, equipment and leasehold improvements, net [Abstract]
Property, equipment and leasehold improvements, gross	$ 95,841		$ 95,841		$ 95,841

INTANGIBLE ASSETS, Patents (Det

INTANGIBLE ASSETS, Patents (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Total	$ 198,411		$ 198,411		$ 216,781
Amortization expense	113,027	$ 199,526	202,334	$ 398,162
Future aggregate amortization expense for intangible assets [Abstract]
Total	198,411		198,411		216,781
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	9,625,938		9,625,938		9,625,938
Less: accumulated amortization	(7,400,217)		(7,400,217)		(7,381,847)
Less: reserve for impairment	(2,027,310)		(2,027,310)		(2,027,310)
Total	198,411		198,411		216,781
Amortization expense	9,236	$ 118,461	18,370	$ 236,924
Future aggregate amortization expense for intangible assets [Abstract]
2017 (Six months)	18,674		18,674
2,018	37,044		37,044
2,019	37,044		37,044
2,020	37,145		37,145
2,021	37,044		37,044
2022 & Beyond	31,460		31,460
Total	198,411		198,411		216,781
Patents [Member] | Amlexanox (Aphthasol) [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,090,000		2,090,000		2,090,000
Patents [Member] | Amlexanox (OraDiscA) [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	6,873,080		6,873,080		6,873,080
Patents [Member] | OraDisc [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	73,000		73,000		73,000
Patents [Member] | Hydrogel Nanoparticle Aggregate [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 589,858		$ 589,858		$ 589,858

INTANGIBLE ASSETS, Licensing Ri

INTANGIBLE ASSETS, Licensing Rights (Details) - USD ($)	Mar. 31, 2017	Feb. 27, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization expense			$ 113,027	$ 199,526	$ 202,334	$ 398,162
Total			198,411		198,411		$ 216,781
Future aggregate amortization expense for intangible assets [Abstract]
Total			198,411		198,411		216,781
Licensing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense			103,791	$ 81,065	183,964	$ 161,238
Intangible assets - licensing rights, gross			4,381,881		4,381,881		3,512,506
Less: accumulated amortization			(515,383)		(515,383)		(331,419)
Total			3,866,498		3,866,498		3,181,087
Future aggregate amortization expense for intangible assets [Abstract]
2017 (Six months)			209,862		209,862
2,018			416,303		416,303
2,019			416,303		416,303
2,020			416,303		416,303
2,021			416,303		416,303
2022 & Beyond			1,991,424		1,991,424
Total			$ 3,866,498		$ 3,866,498		$ 3,181,087
Altrazeal Trading GmbH [Member] | Second Closing [Member]
Finite-Lived Intangible Assets [Line Items]
Warrants to purchase shares of common stock (in shares)	13,375,000
Acquisition value	$ 869,375
Closing price of common stock (in dollars per share)	$ 0.065
Velocitas Partners, LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Expected gross proceeds		$ 6,000,000
Velocitas Partners, LLC [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Expected gross proceeds		$ 6,000,000

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Accrued liabilities [Abstract]
Accrued compensation/benefits	$ 121,170	$ 274,874
Accrued insurance payable	5,916	40,422
Accrued property taxes	2,700	0
Accrued royalties	31,797	0
Product rebates/returns	45	4
Total accrued liabilities	$ 161,628	$ 315,300

PROMISSORY NOTES PAYABLE (Detai

PROMISSORY NOTES PAYABLE (Details) - USD ($)	Feb. 16, 2017	Jan. 18, 2017	Dec. 15, 2016	Jun. 30, 2017	Feb. 27, 2017	Feb. 21, 2017
Debt Instrument [Line Items]
Initial principal amount				$ 1,000,000
Initial Note [Member]
Debt Instrument [Line Items]
Initial principal amount				$ 500,000
Interest rate				12.50%
Velocitas Partners, LLC [Member]
Debt Instrument [Line Items]
Initial principal amount	$ 30,000	$ 65,000	$ 20,000
Interest rate	6.00%	6.00%	6.00%
Monthly installment payments commencing period	180 days	180 days	180 days
Velocitas Partners, LLC [Member] | Initial Note [Member]
Debt Instrument [Line Items]
Initial principal amount					$ 500,000
Kirkwood Investors, Inc [Member]
Debt Instrument [Line Items]
Initial principal amount						$ 25,000
Interest rate						6.00%
Monthly installment payments commencing period				60 days
Number of days for registration effective for a period				2 days

CONVERTIBLE DEBT (Details)

CONVERTIBLE DEBT (Details)	Feb. 27, 2017USD ($)Closing	Jun. 30, 2017USD ($)$ / sharesshares	Mar. 31, 2017USD ($)Director$ / sharesshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Aug. 01, 2017shares	Jul. 31, 2017shares	Feb. 16, 2017USD ($)	Jan. 18, 2017USD ($)	Dec. 31, 2016shares	Dec. 15, 2016USD ($)
Debt Instrument [Line Items]
Authorized shares of common stock (in shares) | shares		200,000,000			200,000,000						200,000,000
Information relating to convertible notes payable [Abstract]
Initial principal amount		$ 1,000,000			$ 1,000,000
Principal balance		1,000,000			1,000,000
Unamortized debt discount		594,294			594,294
Unamortized debt issuance costs		14,992			14,992
Carrying value		390,714			390,714
Interest cost recognized for promissory note and convertible debt		31,165		$ 4,747	37,341	$ 12,973
Amortization of debt discount for promissory note and convertible debt		87,006		12,997	87,006	26,012
Amortization of debt issuance costs for promissory note		1,916		$ 9,290	$ 1,916	$ 18,658
Subsequent Event [Member]
Debt Instrument [Line Items]
Authorized shares of common stock (in shares) | shares								750,000,000
Common Stock [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Convertible preferred stock shares issued upon conversion (in shares) | shares							125,000,000
Series B Convertible Preferred Stock [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Preferred stock, shares outstanding (in shares) | shares							1,250
Second Closing [Member]
Debt Instrument [Line Items]
Number of Board of Directors | Director			6
Second Closing [Member] | Bradley J. Sacks [Member]
Debt Instrument [Line Items]
Number of Board of Directors | Director			1
Second Closing [Member] | Major Investor or Board of Directors [Member]
Debt Instrument [Line Items]
Number of Board of Directors | Director			1
Velocitas Partners, LLC [Member]
Debt Instrument [Line Items]
Gross proceeds	$ 6,000,000
Number of closings | Closing	2
Information relating to convertible notes payable [Abstract]
Initial principal amount									$ 30,000	$ 65,000		$ 20,000
Interest rate									6.00%	6.00%		6.00%
Velocitas Partners, LLC [Member] | First Closing [Member]
Debt Instrument [Line Items]
Debt instrument term					2 years
Velocitas Partners, LLC [Member] | Second Closing [Member]
Debt Instrument [Line Items]
Debt instrument term					2 years
Proceeds from issuance of preferred stock			$ 5,000,000
Purchase price (in dollars per share) | $ / shares			$ 0.04
Number of days taken to automatically convert to common stock					190 days
Warrants to purchase shares of common stock (in shares) | shares			13,375,000
Warrants exercise price (in dollars per share) | $ / shares			$ 0.04
Term of warrants					10 years
Number of Board of Directors | Director			4
Velocitas Partners, LLC [Member] | Second Closing [Member] | Maximum [Member]
Debt Instrument [Line Items]
Warrants to purchase shares of common stock (in shares) | shares			57,055,057
Velocitas Partners, LLC [Member] | Second Closing [Member] | Series B Convertible Preferred Stock [Member]
Debt Instrument [Line Items]
Number of shares issued (in shares) | shares			1,250
Initial Note [Member]
Information relating to convertible notes payable [Abstract]
Initial principal amount		$ 500,000			$ 500,000
Interest rate		12.50%			12.50%
Maturity date					Feb. 27, 2019
Conversion price (in dollars per share) | $ / shares		$ 0.04			$ 0.04
Principal balance		$ 500,000			$ 500,000
Unamortized debt discount		297,147			297,147
Unamortized debt issuance costs		7,496			7,496
Carrying value		195,357			195,357
Initial Note [Member] | Velocitas Partners, LLC [Member]
Information relating to convertible notes payable [Abstract]
Initial principal amount	$ 500,000
Second Note [Member]
Information relating to convertible notes payable [Abstract]
Initial principal amount		$ 500,000			$ 500,000
Interest rate		12.50%			12.50%
Maturity date					Mar. 31, 2019
Conversion price (in dollars per share) | $ / shares		$ 0.04			$ 0.04
Principal balance		$ 500,000			$ 500,000
Unamortized debt discount		297,147			297,147
Unamortized debt issuance costs		7,496			7,496
Carrying value		$ 195,357			$ 195,357

EQUITY TRANSACTIONS (Details)

EQUITY TRANSACTIONS (Details)	Feb. 27, 2017USD ($)Closing	Mar. 29, 2016USD ($)Investor$ / sharesshares	Apr. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2017USD ($)shares	Dec. 31, 2016shares
Velocitas Partners, LLC [Member]
Class of Stock [Line Items]
Expected gross proceeds	$ 6,000,000
Number of closings | Closing	2
Proceeds from issuance or sale of equity	$ 6,000,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares issued (in shares) | shares					1,250	0
Series B Preferred Stock [Member] | Velocitas Partners, LLC [Member]
Class of Stock [Line Items]
Common stock issued during period (in shares) | shares					1,250
March 2016 Offering [Member]
Class of Stock [Line Items]
Expected gross proceeds		$ 1,800,000
Number of investors entered into stock purchase | Investor		15
Common stock issued during period (in shares) | shares		25,245,442
Aggregate shares of common stock issued upon exercise of warrants (in shares) | shares		25,245,442
Purchase price (in dollars per share) | $ / shares		$ 0.0713
Proceeds from issuance or sale of equity		$ 1,800,000
Percentage of discount on average closing price for share issue price		10.00%
Percentage of premium on average closing price for warrant exercise price		10.00%
Exercise price of warrants (in dollars per share) | $ / shares		$ 0.0871
Term of warrants					5 years
Proceeds from offering			$ 361,000	$ 1,439,000	$ 1,800,000
Referral fee paid to European placement agent					$ 26,000
Percentage of referral fee to European placement agent					10.00%
March 2016 Offering [Member] | Michael I. Sacks [Member]
Class of Stock [Line Items]
Proceeds from offering					$ 1,000,000
March 2016 Offering [Member] | Bradley J. Sacks [Member]
Class of Stock [Line Items]
Proceeds from offering					19,000
March 2016 Offering [Member] | Terrance K. Wallberg [Member]
Class of Stock [Line Items]
Proceeds from offering					50,000
March 2016 Offering [Member] | Daniel G. Moro [Member]
Class of Stock [Line Items]
Proceeds from offering					10,000
March 2017 Offering [Member] | Velocitas Partners, LLC [Member]
Class of Stock [Line Items]
Expected gross proceeds	$ 6,000,000
Number of closings | Closing	2
Proceeds from issuance of preferred stock					$ 5,000,000
Proceeds from issuance or sale of equity	$ 6,000,000
March 2017 Offering [Member] | Series B Preferred Stock [Member] | Velocitas Partners, LLC [Member]
Class of Stock [Line Items]
Number of shares issued (in shares) | shares					1,250

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - shares	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Common Stock [Abstract]
Common stock, shares issued (in shares)	76,349,431	62,974,431
Common stock, shares outstanding (in shares)	76,349,431	62,974,431
Series A Preferred Stock [Member]
Preferred Stock [Abstract]
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series B Preferred Stock [Member]
Preferred Stock [Abstract]
Preferred stock, shares issued (in shares)	1,250	0
Preferred stock, shares outstanding (in shares)	1,250	0
Series B Preferred Stock [Member] | Velocitas Partners, LLC [Member]
Class of Stock [Line Items]
Stock issued during period (in shares)	1,250
Common Stock [Member] | Velocitas Partners, LLC [Member]
Class of Stock [Line Items]
Stock issued during period (in shares)	13,375,000

STOCKHOLDERS' EQUITY, Warrants

STOCKHOLDERS' EQUITY, Warrants (Details)	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Number of Shares of Common Stock Subject to Exercise [Roll Forward]
Balance (in shares)	26,179,560
Warrants issued (in shares)	57,055,057
Warrants exercised (in shares)	0
Warrants cancelled (in shares)	0
Balance (in shares)	83,234,617
Weighted-Average Exercise Price [Abstract]
Balance (in dollars per share) | $ / shares	0.11
Warrants issued (in dollars per share) | $ / shares	0.04
Warrants exercised (in dollars per share) | $ / shares	0
Warrants cancelled (in dollars per share) | $ / shares	0
Balance (in dollars per share) | $ / shares	0.06
March 14, 2018 [Member]
Number of Shares of Common Stock Subject to Exercise [Roll Forward]
Balance (in shares)	660,000
January 15, 2019 [Member]
Number of Shares of Common Stock Subject to Exercise [Roll Forward]
Balance (in shares)	80,000
April 30, 2020 [Member]
Number of Shares of Common Stock Subject to Exercise [Roll Forward]
Balance (in shares)	194,118
March 30, 2021 [Member]
Number of Shares of Common Stock Subject to Exercise [Roll Forward]
Balance (in shares)	25,245,442
March 31, 2027 [Member]
Number of Shares of Common Stock Subject to Exercise [Roll Forward]
Balance (in shares)	57,055,057

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)		3 Months Ended	6 Months Ended	12 Months Ended
		Mar. 31, 2017	Jun. 30, 2017	Dec. 31, 2016	Aug. 01, 2017	Jul. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculating basic and diluted net loss per common share (in shares)			239,712,020	26,870,797
Authorized shares of common stock (in shares)			200,000,000	200,000,000
Subsequent Event [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized shares of common stock (in shares)						750,000,000
Subsequent Event [Member] | Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Convertible preferred stock shares issued upon conversion (in shares)					125,000,000
Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares issued (in shares)			1,250	0
Preferred stock, shares outstanding (in shares)			1,250	0
Series B Preferred Stock [Member] | Subsequent Event [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred stock, shares outstanding (in shares)					1,250
Initial Note [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion price (in dollars per share)			$ 0.04
Maturity date			Feb. 27, 2019
Second Note [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion price (in dollars per share)			$ 0.04
Maturity date			Mar. 31, 2019
Warrants to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculating basic and diluted net loss per common share (in shares)			83,234,617	26,179,560
Stock Options to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculating basic and diluted net loss per common share (in shares)			227,403	691,237
Common Stock Issuable Upon the Assumed Conversion of Our Convertible Promissory Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculating basic and diluted net loss per common share (in shares)	[1]		31,250,000	0
Conversion price (in dollars per share)			$ 0.04
Common Stock Issuable Upon the Assumed Conversion of Our Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculating basic and diluted net loss per common share (in shares)	[2]		125,000,000	0
Common Stock Issuable Upon the Assumed Conversion of Our Series B Preferred Stock [Member] | Second Closing [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares issued (in shares)		1,250
Proceeds from issuance of preferred stock		$ 5,000,000
Number of days taken to automatically convert to common stock			190 days
Purchase price (in dollars per share)		$ 0.04
[1]	As part of the Initial Note and the Second Note, at the holder's option, all unpaid principle and interest due under each convertible promissory note may be converted into shares of Common Stock based on a conversion price of $0.04 per share. The Initial Note and the Second Note matures on February 27, 2019 and March 31, 2019, respectively, and on each maturity date each convertible promissory note, and accrued interest thereon, is subject to mandatory conversion based on a conversion price of $0.04 per share. For the purposes of this Table, we have assumed that all outstanding principal and interest will be converted on each applicable maturity date.
[2]	Pursuant to the March 2017 Offering, Velo LLC purchased 1,250 shares of Series B Convertible Preferred Stock of the Company for $5,000,000. The Series B Convertible Preferred Stock that was issued in the March 2017 Offering, (a) voted together with the Common Stock as a single class (subject to standard protective provisions for the Series B Convertible Preferred Stock), (b) had the same dividend rights as the Common Stock, (c) had a liquidation preference equal to the greater of its purchase price and its as converted-to-Common Stock value, (d) automatically converted into Common Stock when the number of authorized shares of Common Stock was increased within 190 days of the second closing as necessary to permit all outstanding convertible or exercisable securities (including the Series B Convertible Preferred Stock) to convert to Common Stock, and (e) was convertible into Common Stock at the discretion of the holder, subject to the availability of authorized shares, at an as-converted-to-Common Stock purchase price of $0.04 per share. In August 2017, all 1,250 outstanding shares of Series B Convertible Preferred Stock converted into 125,000,000 shares of Common Stock as a result of the approval by the stockholders at the 2017 Annual Meeting of Stockholders held on July 25, 2017, and the filing in July 2017, of an amendment increasing our authorized shares of Common Stock to 750,000,000 shares.

SHARE BASED COMPENSATION, Alloc

SHARE BASED COMPENSATION, Allocated compensation expense (Details) - Stock Options [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 4,373	$ 18,148	$ 8,697	$ 46,015
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	1,682	323	3,345	8,993
Selling, General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 2,691	$ 17,825	$ 5,352	$ 37,022

SHARE BASED COMPENSATION, Stock

SHARE BASED COMPENSATION, Stock option, restricted stock and summary of plans (Details) - USD ($)	Jun. 05, 2014	Jun. 13, 2013	Jun. 14, 2012	Jun. 15, 2010	Dec. 17, 2009	May 08, 2007	Jun. 30, 2017	Mar. 31, 2006
Stock Options [Member]
Options, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)							691,237
Granted (in shares)							0
Forfeited/cancelled (in shares)							(463,834)
Exercised (in shares)							0
Outstanding, end of period (in shares)							227,403
Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)							$ 1.94
Granted (in dollars per share)							0
Forfeited/cancelled (in dollars per share)							1.16
Exercised (in dollars per share)							0
Outstanding, end of period (in dollars per share)							$ 3.54
Nonvested Awards, unearned share-based compensation [Abstract]
Unearned share-based compensation expense							$ 4,200
Unearned share-based compensation, recognition period							3 months
2006 Equity Incentive Plan [Member]
Additional disclosures [Abstract]
Number of shares authorized (in shares)							2,800,000	133,333
Number of additional shares authorized (in shares)	1,000,000	600,000	400,000	200,000	200,000	266,667
Number of shares available for grant (in shares)							2,503,151
2006 Equity Incentive Plan [Member] | Stock Options [Member]
Additional disclosures [Abstract]
Number of options granted to date (in shares)							2,061,167
2006 Equity Incentive Plan [Member] | Stock Options [Member] | Minimum [Member]
Additional disclosures [Abstract]
Vesting period							1 year
2006 Equity Incentive Plan [Member] | Stock Options [Member] | Maximum [Member]
Additional disclosures [Abstract]
Vesting period							4 years
Contractual term							10 years
2006 Equity Incentive Plan [Member] | Restricted Stock [Member]
Additional disclosures [Abstract]
Number of restricted shares granted to date (in shares)							68,616
2006 Equity Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member]
Additional disclosures [Abstract]
Vesting period							6 months
2006 Equity Incentive Plan [Member] | Restricted Stock [Member] | Maximum [Member]
Additional disclosures [Abstract]
Vesting period							5 years

SHARE BASED COMPENSATION, Sto51

SHARE BASED COMPENSATION, Stock options grant outstanding and exercisable (Details)	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock Options Outstanding (in shares) | shares	227,403
Options Outstanding, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 3.54
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 8 months 12 days
Stock Options Exercisable (in shares) | shares	227,403
Options Exercisable, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 3.54
Exercise Price Range 1 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock Options Outstanding (in shares) | shares	140,000
Options Outstanding, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 0.33
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 8 months 12 days
Stock Options Exercisable (in shares) | shares	140,000
Options Exercisable, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 0.33
Exercise Price Range 2 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock Options Outstanding (in shares) | shares	65,000
Options Outstanding, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 1.15
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 2 months 12 days
Stock Options Exercisable (in shares) | shares	65,000
Options Exercisable, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 1.15
Exercise Price Range 3 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock Options Outstanding (in shares) | shares	22,403
Options Outstanding, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 30.48
Options Outstanding, Weighted Average Remaining Contractual Life	9 months 18 days
Stock Options Exercisable (in shares) | shares	22,403
Options Exercisable, Weighted Average Exercise Price per Share (in dollars per share) | $ / shares	$ 30.48

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Liabilities [Abstract]
Note payable	$ 1,000,000	$ 20,000
Convertible Promissory Note - March 2017 [Member]
Liabilities [Abstract]
Note payable	500,000	0
Convertible Promissory Note - February 2017 [Member]
Liabilities [Abstract]
Note payable	500,000	0
Promissory Note - December 2016 [Member]
Liabilities [Abstract]
Note payable	$ 0	$ 20,000

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
INCOME TAXES [Abstract]
Increase in net operating loss	$ 1,655
Consolidated operating loss carryforwards	58,107
Research credit carryforwards	$ 555
Effective tax rate	0.00%
Deferred tax assets	$ 0

COMMITMENTS AND CONTINGENCIES54

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended	13 Months Ended	23 Months Ended	27 Months Ended	29 Months Ended	60 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Mar. 16, 2015	Mar. 31, 2014	Feb. 22, 2013	Jun. 30, 2017	Jun. 30, 2017	Mar. 31, 2011
Future minimum lease payments [Abstract]
2017 (Six months)	$ 60,601		$ 60,601					$ 60,601	$ 60,601
2,018	29,199		29,199					29,199	29,199
2,019	0		0					0	0
2,020	0		0					0	0
Total	89,800		89,800					89,800	89,800
Rent expense for operating lease	$ 33,596	$ 30,571	$ 65,944	$ 60,531
Office and Laboratory Space [Member]
Operating Leased Assets [Line Items]
Minimum monthly lease obligation					$ 9,379	$ 9,193	$ 9,776	$ 9,436		$ 9,330
Office Equipment [Member]
Operating Leased Assets [Line Items]
Minimum monthly lease obligation									$ 551

COMMITMENTS AND CONTINGENCIES,

COMMITMENTS AND CONTINGENCIES, Related Party (Details) - USD ($)	Mar. 31, 2017	Feb. 27, 2017	Feb. 21, 2017	Feb. 16, 2017	Jan. 18, 2017	Dec. 15, 2016	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Apr. 02, 2017	Dec. 31, 2016
Related Party Obligations [Abstract]
Concentration risk, percentage							100.00%		100.00%	100.00%	100.00%
Initial principal amount							$ 1,000,000			$ 1,000,000
Summary of compensation earned, compensation paid in cash, and compensation temporarily deferred [Abstract]
Deferred compensation							397,000			397,000			$ 473,000
Compensation accrued liabilities							72,000			72,000			200,000
Compensation accounts payable							325,000			325,000			273,000
Velocitas Partners, LLC [Member]
Related Party Obligations [Abstract]
Expected gross proceeds		$ 6,000,000
Initial principal amount				$ 30,000	$ 65,000	$ 20,000
Interest rate				6.00%	6.00%	6.00%
Monthly installment payments commencing period				180 days	180 days	180 days
Velocitas Partners, LLC [Member] | Maximum [Member]
Related Party Obligations [Abstract]
Expected gross proceeds		$ 6,000,000
Kirkwood Investors, Inc [Member]
Related Party Obligations [Abstract]
Initial principal amount			$ 25,000
Interest rate			6.00%
Monthly installment payments commencing period			60 days
Number of days after receiving interest rate			2 days
Altrazeal Trading GmbH [Member] | Second Closing [Member]
Related Party Obligations [Abstract]
Warrants to purchase shares of common stock (in shares)	13,375,000							13,375,000
Acquisition value	$ 869,375
Altrazeal Distributors [Member] | Second Closing [Member]
Related Party Obligations [Abstract]
Warrants to purchase shares of common stock (in shares)	13,375,000							13,375,000
Acquisition value								$ 869,375
Closing price of common stock (in dollars per share)	$ 0.065							$ 0.065
Velocitas GmbH [Member]
Related Party Obligations [Abstract]
Monthly payment												$ 25,833
Velocitas GmbH [Member] | Revenue [Member]
Related Party Obligations [Abstract]
Related party sales							0		$ 0	$ 215,000	$ 0
Concentration risk, percentage										97.00%	0.00%
Velocitas GmbH [Member] | Accounts Receivable [Member]
Related Party Obligations [Abstract]
Outstanding accounts receivable							$ 0			$ 0			$ 0

COMMITMENTS AND CONTINGENCIES56

COMMITMENTS AND CONTINGENCIES, Contingent Milestone Obligations (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Mar. 07, 2008
Access Pharmaceuticals [Member]
Milestone payments [Line Items]
Future milestone obligations	$ 4,750,000
Accrued expenses related to future milestone payments	32,000
Access Pharmaceuticals [Member] | Annual Sales, Certain Products [Member] | Minimum [Member]
Milestone payments [Line Items]
Milestone for payment	20,000,000
Access Pharmaceuticals [Member] | Annual Sales, Certain Products [Member] | Maximum [Member]
Milestone payments [Line Items]
Milestone for payment	40,000,000
Access Pharmaceuticals [Member] | Annual Sales, Any One Certain Product [Member]
Milestone payments [Line Items]
Milestone for payment	20,000,000
Access Pharmaceuticals [Member] | Cumulative Sales, Certain Products [Member] | Minimum [Member]
Milestone payments [Line Items]
Milestone for payment	50,000,000
Access Pharmaceuticals [Member] | Cumulative Sales, Certain Products [Member] | Maximum [Member]
Milestone payments [Line Items]
Milestone for payment	$ 100,000,000
ProStrakan Ltd [Member]
Milestone payments [Line Items]
Royalty percentage		30.00%
ProStrakan Ltd [Member] | Maximum [Member]
Milestone payments [Line Items]
Future milestone obligations		$ 1,400,000

COMMITMENTS AND CONTINGENCIES57

COMMITMENTS AND CONTINGENCIES, Prescription Drug User Fee Obligation (Details)	Jun. 30, 2017USD ($)
Assessed Prescription Drug User Fee [Member]
Loss Contingencies [Line Items]
Potential penalties and interest amounts due	$ 1,054,000

LEGAL PROCEEDINGS (Details)

LEGAL PROCEEDINGS (Details)	6 Months Ended
	Jun. 30, 2017
LEGAL PROCEEDINGS [Abstract]
Maximum percentage of material proceedings/interest	5.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - shares	Aug. 01, 2017	Jul. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Authorized shares of common stock (in shares)			200,000,000	200,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Authorized shares of common stock (in shares)		750,000,000
Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Convertible preferred stock shares issued upon conversion (in shares)	125,000,000
Series B Convertible Preferred Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Preferred stock, shares outstanding (in shares)	1,250