Innovus Pharmaceuticals S-1/A 26 Oct 15 2014 FY IPO registration (amended) Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2014	Mar. 24, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	INNOVUS PHARMACEUTICALS, INC.
Entity Central Index Key	1,411,879
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	INNV
Entity Common Stock, Shares Outstanding		40,545,545
Document Type	S1
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,014
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 2,980,911

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash	$ 7,479	$ 44,627	$ 33,374
Accounts receivable	191,601	37,885	216,641
Prepaid expenses	55,024	63,220	56,472
Inventory	265,959	291,089	177,851
Property & equipment, net	54,511	59,733	78,973
Deposits	21,919	17,391	21,919
Total Current Assets	520,063	426,002	484,338
OTHER ASSETS
Goodwill	429,225	549,368	421,372
Intangible assets, net	1,055,372	5,612,067	1,106,831
TOTAL ASSETS	2,081,090	6,647,170	2,113,433
CURRENT LIABILITIES
Accounts payable and accrued expenses	362,160	507,464	143,756
Deferred revenue	25,224	7,754	175,569
Warrant Liability		105,809
Accrued interest payable (current portion)	52,568	178,368	3,224
Notes payable, net of debt discount of $120,085 in 2015, $55,982 in 2014 and $0 in 2013	314,018	359,915	370,000
Debentures - related parties (current portion), net of debt discount of $29,384 in 2015 and $68,926 in 2015		150,108
Customer deposits		16,325
Total Current Liabilities	753,970	1,325,743	692,549
NON-CURRENT LIABILITIES
Accrued compensation	$ 906,928	1,276,077	395,667
Accrued interest payable (non-current portion)			$ 57,820
Notes payable, net of debt discount of $67,726 in 2014 and $0 in 2013	$ 24,274	380,774
Debentures - related parties (non-current portion), net of debt discount of $76,492	497,586	3,229,804	$ 511,465
Contingent consideration	324,379	4,886,655	308,273
Total Non-Current Liabilities	1,753,167	6,212,398	1,273,225
TOTAL LIABILITIES	2,507,137		1,965,774
STOCKHOLDERS' EQUITY (Deficit)
Common stock: 150,000,000 shares authorized, at $0.001 par value, 40,845,545, 27,112,263 and 21,548,456 shares issued and outstanding, respectively	27,113	40,846	21,549
Additional paid-in capital	10,778,807	13,991,924	6,531,110
Accumulated deficit	(11,231,967)	(13,597,998)	(6,405,000)
Total Stockholders' Equity (Deficit)	(426,047)	434,772	147,659
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (Deficit)	$ 2,081,090	$ 6,647,170	$ 2,113,433

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Common stock, shares authorized	150,000,000	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued	40,845,545	27,112,263	21,548,456
Common stock, shares outstanding	40,845,545	27,112,263	21,548,456
Notes Payable Debt Discount	$ 120,085	$ 55,982
Long term debt discount	67,726	67,726
Convertible Debentures Debt Discount	$ 29,384	$ 76,492

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Licensing revenues					$ 375,000
Product sales					655,113	$ 6,641
NET REVENUES	$ 183,473	$ 113,784	$ 380,325	$ 279,872	1,030,113	6,641
COST OF GOODS SOLD	64,029	50,546	140,449	106,397	292,080	1,821
GROSS PROFIT	119,444	63,238	239,876	173,475
OPERATING EXPENSES
Cost of product sales	64,029	50,546	140,449	106,397	292,080	1,821
Research and development		54,128		109,695	143,914	92,923
General and administrative	901,968	1,006,382	2,349,970	2,291,972	4,378,749	3,800,830
Total Operating Expenses	901,968	1,060,510	2,349,970	2,401,667	4,814,743	3,895,574
LOSS FROM OPERATIONS	(782,524)	(997,272)	(2,110,094)	(2,228,192)	(3,784,630)	$ (3,888,933)
Other Expenses:
LOSS ON EXTINGUISHMENT OF DEBT			(32,500)		(406,833)
FAIR VALUE ADJUSTMENT FOR CONTINGENT CONSIDERATION	15,735		47,929		(103,274)
INTEREST and OTHER EXPENSE	(97,484)	(88,343)	(271,366)	(296,837)	(532,230)	$ (67,246)
NET LOSS	$ (864,273)	$ (1,085,615)	$ (2,366,031)	$ (2,525,029)	$ (4,826,967)	$ (3,956,179)
BASIC LOSS AND DILUTED LOSS PER SHARE (in dollars per share)	$ (0.02)	$ (0.05)	$ (0.06)	$ (0.11)	$ (0.20)	$ (0.23)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING- BASIC AND DILUTED (in shares)	40,816,767	23,807,965	37,909,664	23,191,829	24,384,037

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (2,366,031)	$ (2,525,029)	$ (4,826,967)	$ (3,956,179)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	17,815	29,358	63,450
Stock-based compensation	751,710	926,164	1,509,005	$ 2,254,898
Fair Value of common stock and stock units issued for services	319,701	285,142	749,063	498,840
Amortization of debt discount	220,417	256,198	443,867	16,215
Amortization of intangibles	239,582	44,044	114,006	$ (18,608)
Change in fair value of contingent consideration			103,274
Loss on Extinguishment of debt	32,500		406,833
Loss on extinguishment of debt	32,500
Change in fair value of derivative liability	(47,929)
Changes in operating assets and liabilities, net of acquisition amounts
Accounts receivable	153,716	63,507	25,040	$ (138,195)
Prepaid expenses	1,778	(1,833)	(20,752)	62,029
Deposits	6,961	21,200	22,200	(43,119)
Inventory	(25,130)	(22,953)	(88,108)	2,590
Accounts payable and accrued expenses	161,629	104,670	210,549	103,823
Accrued compensation	369,149	269,666	511,262	395,667
Interest payable	53,241	40,090	86,353	45,908
Deferred revenue	(17,470)	(25,349)	(150,345)	175,569
Net Cash Used in Operating Activities	(128,361)	$ (535,125)	$ (841,270)	(644,286)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of Semprae Inc, cash received				$ 3,749
Purchase of equipment	(9,537)		$ 38,989
Purchase of intangible assets	(3,277)		(22,545)	$ (4,149)
Net Cash Used in Investing Activities	(12,814)		(61,534)	(400)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds (Repayment) from notes payable, net	100,000	$ 300,000	340,000	350,000
Proceeds from notes payable - related party	50,000	125,000
Proceeds from convertible debt		121,378	$ 50,000	50,000
Proceeds from stock issued for cash				134,639
Proceeds from debentures - related party	5,000,000	12,500,000	$ 150,000	70,000
Proceeds from LOC convertible debt - related party			$ 424,078	448,475
Repayment of assumed debt related to acquistion of Semprae				$ (343,500)
Payments made for contingent consideration			$ (87,168)
Repayment of Dawson James Note				$ (50,000)
Net Cash Provided by Financing Activities	150,113	546,378	$ 876,910	659,614
NET CHANGE IN CASH	8,938	11,253	(25,894)	14,928
CASH AT BEGINNING OF PERIOD	7,479	33,374	33,374	18,445
CASH AT END OF PERIOD	$ 16,417	$ 44,627	$ 7,479	$ 33,374

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2012	$ 16,198	$ 2,220,202	$ (2,448,821)	$ (212,421)
Balance (in shares) at Dec. 31, 2012	16,197,782
Common stock issued for services	$ 1,018	497,823		498,841
Common stock issued for services (in shares)	1,017,641
Stock compensation expense		2,254,898		2,254,898
Common stock issued for purchase of license	$ 631	249,369		250,000
Common stock issued for purchase of license (in shares)	631,313
Common stock sold to related party for cash	$ 417	134,222		134,639
Common stock sold to related party for cash, shares	416,841
Common stock issued upon conversion of debt, of which 1,579,297 shares were issued to related parties	$ 83	51,375		51,458
Common stock issued upon conversion of debt (in shares)	83,103
Convertible debt discount		165,892		165,892
Common stock issued for aquisition	$ 3,202	$ 957,328		960,530
Common stock issued for acquisition, shares	3,201,776
Net loss			$ (3,956,179)	(3,956,179)
Balance at Dec. 31, 2013	$ 21,549	$ 6,531,110	$ (6,405,000)	147,659
Balance (in shares) at Dec. 31, 2013	21,548,456
Common stock issued for services	$ 1,665	747,398		749,063
Common stock issued for services (in shares)	1,665,203
Common stock and options issued for product acquisition	$ 143	39,857		40,000
Common stock and options issued for product acquisition (in shares)	142,857
Common stock issued for acquisition of Vesele product acquisition	$ 143	39,857		40,000
Common stock issued for acquisition of Vesele product acquisition, shares	142,857
Stock compensation expense to employees and Board members		1,509,005		1,509,005
Common stock issued upon conversion of debt, of which 1,579,297 shares were issued to related parties	$ 3,756	1,529,050		1,532,806
Common stock issued upon conversion of debt (in shares)	3,755,747
Convertible debt discount - Beneficial conversion feature of debt instruments		325,855		325,855
Convertible debt discount - Warrants		$ 96,532		96,532
Net loss			$ (4,826,967)	(4,794,035)
Balance at Dec. 31, 2014	$ 27,113	$ 10,778,807	(11,231,967)	(426,047)
Balance (in shares) at Dec. 31, 2014	27,112,263
Common stock issued for services	$ 505	218,357		210,662
Common stock issued for services (in shares)	505,625
Common stock and options issued for product acquisition	$ 12,948	2,058,678		2,071,626
Common stock and options issued for product acquisition (in shares)	12,947,657
Stock compensation expense		751,710		751,710
Common stock issued for acquisition of Vesele product acquisition	$ 12,948	2,058,678		2,071,626
Common stock issued for acquisition of Vesele product acquisition, shares	12,947,657
Common stock issued upon conversion of debt, of which 1,579,297 shares were issued to related parties	$ 230	91,770		92,000
Common stock issued upon conversion of debt (in shares)	230,000
CRI Share reduction	$ (200)	(37,800)		(38,000)
CRI Share reduction (in shares)	(200,000)
Convertible debt discount - Beneficial conversion feature of debt instruments		4,154		4,154
Shares issued for extension of February 2014 convertible debentures	$ 250	32,250		32,500
Shares issued for extension of February 2014 convertible debentures (in shares)	250,000
Net loss			(2,366,031)	(2,366,031)
Balance at Jun. 30, 2015	$ 40,846	$ 13,991,924	$ (13,597,998)	$ 434,772
Balance (in shares) at Jun. 30, 2015	40,845,545

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Innovus Pharmaceuticals, Inc., together with its subsidiaries (collectively referred to as “Innovus” or the “Company”) is a San Diego, California based pharmaceutical company that delivers safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. The Company has five products that are currently being marketed: (1) Zestra EjectDelay® Sensum+ Zestra Glide Vesele Pipeline Products Androferti On January 28, 2015, the Company entered into an exclusive distribution agreement with Laboratorios Q Pharma (Spain) to distribute and commercialize Androferti in the U.S. and, in Canada, through a partner. Androferti is a natural supplement that supports overall male reproductive health and sperm quality. Androferti, has been shown in multiple published clinical trials to statistically increase seminal quality (concentration, motility, morphology and vitality) and enhances spermatozoa quality (decreases of vacuoles in the sperm nucleus, decreases DNA fragmentation, decreases the dynamics of sperm DNA fragmentation and improves the inventory of mobile sperms. Fluticare™ (Fluticasone propionate nasal spray) Innovus acquired the worldwide rights to market and sell the Fluticare™ brand (Fluticasone propionate nasal spray) and the related manufacturing agreement from Novalere FP in February, 2015. Innovus expects that the Abbreviated New Drug Application (“ANDA”) filed in November 2014 by the manufacturer with the U.S. Food and Drug Administration (“FDA”) may be approved by the end of 2015 or in the first half of 2016, which will allow the Company to market and sell Fluticare™ over-the-counter. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. Fluticasone Propionate Nasal Spray (“FPNS”) is the most prescribed nasal steroid in the U.S. since 2007, with more than 150 million units sold and has been the #1 prescribed nasal spray to patients in the U.S. for more than five consecutive years. More than 40 million units of FPNS nasal spray product form were sold in the U.S. in 2014 and the worldwide market is estimated to be over $1 billion annually.	Organization Innovus Pharmaceuticals, Inc., together with its subsidiaries (collectively referred to as “Innovus” or the “Company”) is San Diego, California based commercial-stage pharmaceuticals company that delivers safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality. The Company is engaged in the commercialization, licensing, and development of non-prescription pharmaceutical products and consumer care health products backed with strong scientific and clinical evidence. The Company became a public company through a reverse merger in 2010, and commenced commercial operations with its current business plan in 2013. Accquisition of Semprae Laboratories, Inc. On December 24, 2013, Innovus entered into an agreement and plan of merger (the “Merger Agreement”) with Innovus Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Innovus (“Merger Sub”), Semprae Laboratories, Inc., a Delaware corporation (“Semprae”), certain stockholders of Semprae and Quaker Bioventures II, L.P., a principal stockholder of Semprae, pursuant to which, on the same date, Merger Sub merged into Semprae with Semprae continuing as the surviving corporation and a wholly-owned subsidiary of Innovus . Acquisition of Novalere FP, Inc. On February 4, 2015, the Company, Innovus Pharma Acquisition Corporation, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary I”), Innovus Pharma Acquisition Corporation II, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary II”), Novalere FP, Inc., a Delaware corporation (“Novalere”), and Novalere Holdings, LLC, a Delaware limited liability company (“Novalere Holdings”), as representative of the shareholders of Novalere (the “Novalere Stockholders”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Subsidiary I merged into Novalere and then Novalere merged with and into Merger Subsidiary II (the “Merger”), with Merger Subsidiary II surviving as a wholly-owned subsidiary of Innovus. Pursuant to the articles of merger effectuating the Merger, Merger Subsidiary changed its name to Novalere, Inc. The transaction recorded and subsequently closed on February 5, 2015. With the Merger, Innovus acquired the worldwide rights to the Fluticare™ brand (Fluticasone propionate nasal spray) from Novalere. Innovus expects that the Abbreviated New Drug Application (“ANDA”) filed in November 2014 with the U.S. Food and Drug Administration may be approved by the end of 2015 or in the first half of 2016. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. (See Note 10) Basis of Presentation and Principles of Consolidation These condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), and include all assets, liabilities, revenues and expenses of the Company and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated. Certain items have been reclassified to conform to the current presentation. Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, realizability of deferred tax assets and intangible assets, contingent consideration and allowance for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions. Liquidity The Company’s operations have been financed primarily through advances from officers, directors and related parties, outside capital, and from revenues generated from the recent launch of its products and commercial partnerships signed for the sale and distribution of its products in 28 countries. These funds have provided the Company with the resources to operate its business, to sell and support its products, attract and retain key personnel, and add new products to its portfolio. To date, the Company has experienced net losses and negative cash flows from operations each year since its inception. As of December 31, 2014, the Company had an accumulated deficit of $11,231,967. The Company has raised funds through the issuance of debt and the sale of common stock. For the year ended December 31, 2014 the Company raised $1.0 million in funds, which included $0.4 million from the issuance of convertible debentures to unrelated third parties in February 2014 and September 2014, $0.2 million in proceeds from the issuance of additional non-convertible debt instruments, as well as $0.4 million in proceeds from borrowings under a Convertible Debenture Line of Credit (“LOC Convertible Debenture”) that the Company entered into with its President and Chief Executive Officer. The LOC Convertible Debenture provides the Company with a line of credit in the amount of up to $1.5 million through the earlier of its successful completion of a financing of $4 million, or July 2016. At December 31, 2014, the Company had approximately $1.1 million available for use. In addition, Dr. Damaj’s funding commitment increases by the gross amount of any cash salary, bonus or severance payments provided to him under his employment agreement with us. His salary has been accrued and not paid under the provision of his employment agreement stating that salary payments will be accrued and not paid for so long as payment of such salary would jeopardize our ability to continue as a going concern. Dr. Damaj has agreed not to require the Company to repay the borrowing under the LOC or his accrued salary prior to April 2016. The Company has also issued equity instruments where possible to pay for services from vendors and consultants. As of December 31, 2014, the Company had $7,479 in cash and cash equivalents, $1.1 million in cash available for use under the LOC Convertible Debenture, and $0.2 million in accounts receivable. During the year ended December 31, 2014, the Company recognized $1.0 million in revenues, which included $0.3 million in upfront license fees from its partners for its commercial products and $0.7 million from sales of its commercially available products. The Company expects that its existing capital resources, revenues from sales of its products, upcoming sales milestone payments from the commercial partners signed for its products, along with the $1.1 million in funds currently available for use under the LOC Convertible Debenture will be sufficient to allow the Company to continue its operations, commence the product development process, and launch selected products through at least April 1, 2016. However, the Company’s actual needs will depend on numerous factors, including timing of introducing its products to the marketplace, its ability to attract additional ex-U.S. distributors for its products and its ability to in-license in non-partnered territories and/or develop new product candidates. Other potential sources of liquidity in the short term include payments from the Company’s existing partners for license fees, entering into new collaborative, licensing or commercial agreements in additional territories, and revenues from the sale of its products. In addition to payments from the Company’s current licensing and commercial agreements, as well as funds from public and private financial markets, potential sources of liquidity in the long term include milestone, royalty and other payments from any future commercial agreements or licensees and revenues from sales of its own products. If the Company determine it is advisable to raise additional funds, the Company does not know whether adequate funding will be available to it on acceptable terms, if at all. Fair Value Measurement The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities, convertible debentures and a convertible debt instrument. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. We remeasure the fair value of the contingent consideration arising from acquisitions each reporting period based upon amounts expected to be paid out under the terms of such agreements. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: · Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. · Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. · Level 3 measurements are unobservable inputs. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of three months or less when purchased. Concentration of Credit Risk and Major Customers Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, trade accounts receivable, and revenue. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation (“FDIC”) on such deposits. Accounts receivable consist primarily of amounts receivable under our licensing agreements and product sale agreements. (See Note 4). In some cases, the Company also requires a percentage of payment in advance for product orders with its larger partners. The Company has not yet recognized revenue under these arrangements. The Company also performs ongoing credit evaluations of its customers and generally does not require collateral. There have been no write-offs of trade accounts receivable during the periods presented. The following table identifies customers with accounts receivable that individually exceed 10% of the Company’s total accounts receivable for December 31, 2014 and 2013: 2014 2013 Ovation Pharma 85,000 44 % 135,035 52 % Sothema Laboratories 52,187 27 % - - Wal-Mart 20,580 11 % 37,963 15 % Revenues consist primarily of product sales and licensing rights to market and commercialize our products. The following table identifies customers with revenues that individually exceed 10% of the Company’s total revenues for the year ended December 31, 2014: Sothema Laboratories 245,380 23 % Ovation Pharma 175,000 17 % Wal-Mart 171,600 16 % Concentration of Suppliers The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+™, EjectDelay®, Vesele®, and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers. Business Combinations For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. The Company recognizes separately from goodwill the fair value of assets acquired and the liabilities assumed. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the acquisition date fair values of the assets acquired and liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company's estimates are subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may retroactively record adjustments to the fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company's consolidated statements of operations. Inventory Inventory, consisting primarily of raw materials and finished goods, is valued at the lower of cost or market where cost is determined using the first-in, first-out method. Inventory is shown net of obsolescence and allowance for reducing the inventory cost to market. Obsolescence of inventory is determined based on shelf life or potential product replacement. The following table identifies inventory by category at December 31, 2014: Amount 2014 2013 Raw materials $ 90,934 $ 123,379 Finished goods 84,249 63,948 Packaging supplies 100,252 - Inventory reserve (9,476 ) (9,476 ) Total at December 31, 2014 265,959 177,851 Property and Equipment Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over their estimated useful lives. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Goodwill The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicate an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. There was no impairment of goodwill for the year ended December 31, 2014 or 2013. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share. Intangible Assets Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range in term from 7 to 14 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Intangible assets consist of the following at December 31, 2014: Accumulated Useful Lives Amount Amortization Net Amount (years) Patents and trademarks $ 264,321 $ (23,671 ) $ 240,650 7 - 14 Customer contracts 611,119 (62,262 ) 548,857 10 Sensum+™ (formally called CIRCUMserum™) license 272,545 (31,250 ) 241,295 10 Vesele 25,287 (717 ) 24,570 8 Outstanding at December 31, 2014 1,173,272 (117,900 ) 1,055,372 Expected amortization is approximately $115,000 for each of the next five years, and $480,000 thereafter. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value. Beneficial Conversion Features and Debt Discounts If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a beneficial conversion feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method. Income Taxes Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognized interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying statements of operation. Accrued interest and penalties are included within the related tax liability in the consolidated balance sheets. Revenue Recognition and Deferred Revenue The Company generates revenues from product sales and the licensing of the rights to market and commercialize its products. Product Sales License Arrangements Sales Allowances The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves, and actual claims for rebates, returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was $23,732 at December 31, 2014 and insignificant at December 31, 2013. Cost of Goods Sold Cost of goods sold includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of its marketed products, Zestra® and Sensum+®. Research and Development Costs Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, clinical trials, material purchases and regulatory affairs. Stock-based Compensation The Company accounts for stock based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Equity Instruments Issued to Non-Employees for Services Issuances of the Company’s common stock for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 7). Comprehensive Loss Loss per Share Basic loss per share are computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted earnings per share are computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the year ended December 31, 2014 and 2013, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following reconciliation shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company at December 31, 2014 and 2013: As of December 31 2014 2013 Gross number of shares excluded: Restricted stock units 8,270,239 6,300,000 Stock options 113,000 21,000 Convertible notes payable 2,115,195 2,378,287 Warrants 630,973 380,973 Total 11,129,407 9,080,260 Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern substantial doubt,

NATURE OF OPERATIONS OF THE COM

NATURE OF OPERATIONS OF THE COMPANY	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS OF THE COMPANY	Innovus Pharmaceuticals, Inc., together with its subsidiaries (collectively referred to as “Innovus” or the “Company”) is a San Diego, California based pharmaceutical company that delivers safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. The Company has five products that are currently being marketed: (1) Zestra EjectDelay® Sensum+ Zestra Glide Vesele Pipeline Products Androferti On January 28, 2015, the Company entered into an exclusive distribution agreement with Laboratorios Q Pharma (Spain) to distribute and commercialize Androferti in the U.S. and, in Canada, through a partner. Androferti is a natural supplement that supports overall male reproductive health and sperm quality. Androferti, has been shown in multiple published clinical trials to statistically increase seminal quality (concentration, motility, morphology and vitality) and enhances spermatozoa quality (decreases of vacuoles in the sperm nucleus, decreases DNA fragmentation, decreases the dynamics of sperm DNA fragmentation and improves the inventory of mobile sperms. Fluticare™ (Fluticasone propionate nasal spray) Innovus acquired the worldwide rights to market and sell the Fluticare™ brand (Fluticasone propionate nasal spray) and the related manufacturing agreement from Novalere FP in February, 2015. Innovus expects that the Abbreviated New Drug Application (“ANDA”) filed in November 2014 by the manufacturer with the U.S. Food and Drug Administration (“FDA”) may be approved by the end of 2015 or in the first half of 2016, which will allow the Company to market and sell Fluticare™ over-the-counter. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. Fluticasone Propionate Nasal Spray (“FPNS”) is the most prescribed nasal steroid in the U.S. since 2007, with more than 150 million units sold and has been the #1 prescribed nasal spray to patients in the U.S. for more than five consecutive years. More than 40 million units of FPNS nasal spray product form were sold in the U.S. in 2014 and the worldwide market is estimated to be over $1 billion annually.	Organization Innovus Pharmaceuticals, Inc., together with its subsidiaries (collectively referred to as “Innovus” or the “Company”) is San Diego, California based commercial-stage pharmaceuticals company that delivers safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality. The Company is engaged in the commercialization, licensing, and development of non-prescription pharmaceutical products and consumer care health products backed with strong scientific and clinical evidence. The Company became a public company through a reverse merger in 2010, and commenced commercial operations with its current business plan in 2013. Accquisition of Semprae Laboratories, Inc. On December 24, 2013, Innovus entered into an agreement and plan of merger (the “Merger Agreement”) with Innovus Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Innovus (“Merger Sub”), Semprae Laboratories, Inc., a Delaware corporation (“Semprae”), certain stockholders of Semprae and Quaker Bioventures II, L.P., a principal stockholder of Semprae, pursuant to which, on the same date, Merger Sub merged into Semprae with Semprae continuing as the surviving corporation and a wholly-owned subsidiary of Innovus . Acquisition of Novalere FP, Inc. On February 4, 2015, the Company, Innovus Pharma Acquisition Corporation, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary I”), Innovus Pharma Acquisition Corporation II, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary II”), Novalere FP, Inc., a Delaware corporation (“Novalere”), and Novalere Holdings, LLC, a Delaware limited liability company (“Novalere Holdings”), as representative of the shareholders of Novalere (the “Novalere Stockholders”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Subsidiary I merged into Novalere and then Novalere merged with and into Merger Subsidiary II (the “Merger”), with Merger Subsidiary II surviving as a wholly-owned subsidiary of Innovus. Pursuant to the articles of merger effectuating the Merger, Merger Subsidiary changed its name to Novalere, Inc. The transaction recorded and subsequently closed on February 5, 2015. With the Merger, Innovus acquired the worldwide rights to the Fluticare™ brand (Fluticasone propionate nasal spray) from Novalere. Innovus expects that the Abbreviated New Drug Application (“ANDA”) filed in November 2014 with the U.S. Food and Drug Administration may be approved by the end of 2015 or in the first half of 2016. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. (See Note 10) Basis of Presentation and Principles of Consolidation These condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), and include all assets, liabilities, revenues and expenses of the Company and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated. Certain items have been reclassified to conform to the current presentation. Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, realizability of deferred tax assets and intangible assets, contingent consideration and allowance for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions. Liquidity The Company’s operations have been financed primarily through advances from officers, directors and related parties, outside capital, and from revenues generated from the recent launch of its products and commercial partnerships signed for the sale and distribution of its products in 28 countries. These funds have provided the Company with the resources to operate its business, to sell and support its products, attract and retain key personnel, and add new products to its portfolio. To date, the Company has experienced net losses and negative cash flows from operations each year since its inception. As of December 31, 2014, the Company had an accumulated deficit of $11,231,967. The Company has raised funds through the issuance of debt and the sale of common stock. For the year ended December 31, 2014 the Company raised $1.0 million in funds, which included $0.4 million from the issuance of convertible debentures to unrelated third parties in February 2014 and September 2014, $0.2 million in proceeds from the issuance of additional non-convertible debt instruments, as well as $0.4 million in proceeds from borrowings under a Convertible Debenture Line of Credit (“LOC Convertible Debenture”) that the Company entered into with its President and Chief Executive Officer. The LOC Convertible Debenture provides the Company with a line of credit in the amount of up to $1.5 million through the earlier of its successful completion of a financing of $4 million, or July 2016. At December 31, 2014, the Company had approximately $1.1 million available for use. In addition, Dr. Damaj’s funding commitment increases by the gross amount of any cash salary, bonus or severance payments provided to him under his employment agreement with us. His salary has been accrued and not paid under the provision of his employment agreement stating that salary payments will be accrued and not paid for so long as payment of such salary would jeopardize our ability to continue as a going concern. Dr. Damaj has agreed not to require the Company to repay the borrowing under the LOC or his accrued salary prior to April 2016. The Company has also issued equity instruments where possible to pay for services from vendors and consultants. As of December 31, 2014, the Company had $7,479 in cash and cash equivalents, $1.1 million in cash available for use under the LOC Convertible Debenture, and $0.2 million in accounts receivable. During the year ended December 31, 2014, the Company recognized $1.0 million in revenues, which included $0.3 million in upfront license fees from its partners for its commercial products and $0.7 million from sales of its commercially available products. The Company expects that its existing capital resources, revenues from sales of its products, upcoming sales milestone payments from the commercial partners signed for its products, along with the $1.1 million in funds currently available for use under the LOC Convertible Debenture will be sufficient to allow the Company to continue its operations, commence the product development process, and launch selected products through at least April 1, 2016. However, the Company’s actual needs will depend on numerous factors, including timing of introducing its products to the marketplace, its ability to attract additional ex-U.S. distributors for its products and its ability to in-license in non-partnered territories and/or develop new product candidates. Other potential sources of liquidity in the short term include payments from the Company’s existing partners for license fees, entering into new collaborative, licensing or commercial agreements in additional territories, and revenues from the sale of its products. In addition to payments from the Company’s current licensing and commercial agreements, as well as funds from public and private financial markets, potential sources of liquidity in the long term include milestone, royalty and other payments from any future commercial agreements or licensees and revenues from sales of its own products. If the Company determine it is advisable to raise additional funds, the Company does not know whether adequate funding will be available to it on acceptable terms, if at all. Fair Value Measurement The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities, convertible debentures and a convertible debt instrument. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. We remeasure the fair value of the contingent consideration arising from acquisitions each reporting period based upon amounts expected to be paid out under the terms of such agreements. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: · Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. · Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. · Level 3 measurements are unobservable inputs. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of three months or less when purchased. Concentration of Credit Risk and Major Customers Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, trade accounts receivable, and revenue. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation (“FDIC”) on such deposits. Accounts receivable consist primarily of amounts receivable under our licensing agreements and product sale agreements. (See Note 4). In some cases, the Company also requires a percentage of payment in advance for product orders with its larger partners. The Company has not yet recognized revenue under these arrangements. The Company also performs ongoing credit evaluations of its customers and generally does not require collateral. There have been no write-offs of trade accounts receivable during the periods presented. The following table identifies customers with accounts receivable that individually exceed 10% of the Company’s total accounts receivable for December 31, 2014 and 2013: 2014 2013 Ovation Pharma 85,000 44 % 135,035 52 % Sothema Laboratories 52,187 27 % - - Wal-Mart 20,580 11 % 37,963 15 % Revenues consist primarily of product sales and licensing rights to market and commercialize our products. The following table identifies customers with revenues that individually exceed 10% of the Company’s total revenues for the year ended December 31, 2014: Sothema Laboratories 245,380 23 % Ovation Pharma 175,000 17 % Wal-Mart 171,600 16 % Concentration of Suppliers The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+™, EjectDelay®, Vesele®, and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers. Business Combinations For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. The Company recognizes separately from goodwill the fair value of assets acquired and the liabilities assumed. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the acquisition date fair values of the assets acquired and liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company's estimates are subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may retroactively record adjustments to the fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company's consolidated statements of operations. Inventory Inventory, consisting primarily of raw materials and finished goods, is valued at the lower of cost or market where cost is determined using the first-in, first-out method. Inventory is shown net of obsolescence and allowance for reducing the inventory cost to market. Obsolescence of inventory is determined based on shelf life or potential product replacement. The following table identifies inventory by category at December 31, 2014: Amount 2014 2013 Raw materials $ 90,934 $ 123,379 Finished goods 84,249 63,948 Packaging supplies 100,252 - Inventory reserve (9,476 ) (9,476 ) Total at December 31, 2014 265,959 177,851 Property and Equipment Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over their estimated useful lives. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Goodwill The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicate an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. There was no impairment of goodwill for the year ended December 31, 2014 or 2013. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share. Intangible Assets Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range in term from 7 to 14 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Intangible assets consist of the following at December 31, 2014: Accumulated Useful Lives Amount Amortization Net Amount (years) Patents and trademarks $ 264,321 $ (23,671 ) $ 240,650 7 - 14 Customer contracts 611,119 (62,262 ) 548,857 10 Sensum+™ (formally called CIRCUMserum™) license 272,545 (31,250 ) 241,295 10 Vesele 25,287 (717 ) 24,570 8 Outstanding at December 31, 2014 1,173,272 (117,900 ) 1,055,372 Expected amortization is approximately $115,000 for each of the next five years, and $480,000 thereafter. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value. Beneficial Conversion Features and Debt Discounts If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a beneficial conversion feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method. Income Taxes Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognized interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying statements of operation. Accrued interest and penalties are included within the related tax liability in the consolidated balance sheets. Revenue Recognition and Deferred Revenue The Company generates revenues from product sales and the licensing of the rights to market and commercialize its products. Product Sales License Arrangements Sales Allowances The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves, and actual claims for rebates, returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was $23,732 at December 31, 2014 and insignificant at December 31, 2013. Cost of Goods Sold Cost of goods sold includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of its marketed products, Zestra® and Sensum+®. Research and Development Costs Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, clinical trials, material purchases and regulatory affairs. Stock-based Compensation The Company accounts for stock based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Equity Instruments Issued to Non-Employees for Services Issuances of the Company’s common stock for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 7). Comprehensive Loss Loss per Share Basic loss per share are computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted earnings per share are computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the year ended December 31, 2014 and 2013, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following reconciliation shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company at December 31, 2014 and 2013: As of December 31 2014 2013 Gross number of shares excluded: Restricted stock units 8,270,239 6,300,000 Stock options 113,000 21,000 Convertible notes payable 2,115,195 2,378,287 Warrants 630,973 380,973 Total 11,129,407 9,080,260 Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern substantial doubt,

LIQUIDITY

LIQUIDITY	6 Months Ended
	Jun. 30, 2015
Liquidity and Plan Of Operation [Abstract]
LIQUIDITY	The Company’s operations have been financed primarily through advances from officers, directors and related parties, outside capital, revenues generated from the launch of its products and commercial partnerships signed for the sale and distribution of its products domestic and internationally. These funds have provided the Company with the resources to operate its business, sell and support its products, attract and retain key personnel and add new products to its portfolio. The Company has experienced net losses and negative cash flows from operations each year since its inception. As of June 30, 2015, the Company had an accumulated deficit of $13,597,998. The Company has raised funds through the issuance of debt and the sale of common stock. The Company has also issued equity instruments in certain circumstances to pay for services from vendors and consultants. For the six months ended June 30, 2015 the Company raised $150,000 in funds, which included $100,000 from the issuance of a note payable to an unrelated third party and $50,000 in proceeds from the issuance of a non-convertible debt instrument to a related party. As of June 30, 2015, the Company had $16,417 in cash, $1.1 million in cash available for use under the Line Of Credit Convertible Debenture, increased to $1.6 million on August 12, 2015, with a related party (See Notes 8 and 10) and $37,885 in accounts receivable. During the six months ended June 30, 2015, the Company recognized $380,325 in revenues. While the Company had a working capital deficiency of $899,741 at June 30, 2015, the Company expects that its existing capital resources, revenues from sales of its products and upcoming sales milestone payments from the commercial partners signed for its products, along with the funds currently available for use under the LOC Convertible Debenture will be sufficient to allow the Company to continue its operations, commence the product development process and launch selected products through July 1, 2016. The Company’s actual needs will depend on numerous factors, including timing of introducing its products to the marketplace, its ability to attract additional ex-US distributors for its products and its ability to in-license in non-partnered territories and/or develop new product candidates. The Company may also seek to raise capital, debt or equity from outside sources to pay for further expansion and development of its business and to meet current obligations. Such capital may not be available to the Company when it needs it on terms acceptable to the Company, if at all. See Note 10 for financing received after the balance sheet date.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Basis of Presentation and Principles of Consolidation These unaudited condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include all assets, liabilities, revenues and expenses of the Company and its wholly owned subsidiaries: FasTrack Pharmaceuticals, Inc., Semprae Laboratories, Inc. (“Semprae”) and Novalere, Inc. (“Novalere”). All material intercompany transactions and balances have been eliminated. These interim unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Certain information required by U.S. GAAP has been condensed or omitted in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The results for the periods ended June 30, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2015 or for any future period. Use of Estimates 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 and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, revenue recognition, sales adjustments, fair value of the derivative liability and intangible assets. The Company bases its estimates on historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions. Fair Value Measurement The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities and debt. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: ● Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ● Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. ● Level 3 measurements are unobservable inputs. Concentration of Credit Risk and Major Customers Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and trade accounts receivable. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation on such deposits. Accounts receivable consist primarily of amounts receivable from Sothema Laboratories under the Company's licensing agreements and from sales of Zestra®. The Company also requires a percentage of payment in advance for product orders with its larger partners. The Company performs ongoing credit evaluations of its customers and generally does not require collateral. As of June 30, 2015 and December 31, 2014, the Company had $37,885 and $191,601, respectively, in accounts receivable, presented net of estimated returns and allowances. The Company had three major customers that accounted for 18.3%, 13.1% and 11.1%, respectively, of net sales during the six months ended June 30, 2015. These same customers accounted for 25.1%, 0.0% and 10.4%, respectively, of gross accounts receivable as of June 30, 2015. These customers accounted for 31.4%, 0.0% and 0.0%, respectively, of net sales during the six months ended June 30, 2014 and another customer accounted for 9.9%. Concentration of Suppliers The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+®, EjectDelay®, Vesele®, Androferti® and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers. Inventory Inventory is valued at the lower of cost or market using the first-in, first-out method. Inventory is shown net of obsolescence, determined based on shelf life or potential product replacement. Inventory consists of the following at June 30, 2015: Raw materials $ 94,566 Work in process 24,122 Finished goods 172,401 Total $ 291,089 Property and Equipment Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets which range from three to five years. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Intangible Assets Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range from 7 to 15 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Amortizable intangible assets consist of the following: June 30, 2015 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 417,598 $ 39,158 $ 378,439 7 - 15 Customer Contracts 611,119 92,818 518,301 10 Sensum+® License 234,545 38,227 196,318 10 Vesele® trademark 25,287 2,304 22,983 10 Novalere Mfg Contract 4,681,000 184,975 4,496,026 10 Total $ 5,969,549 $ 357,482 $ 5,612,067 December 31, 2014 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 264,321 $ 23,671 $ 240,650 7 - 15 Customer Contracts 611,119 62,262 548,857 10 Sensum+® license 272,545 31,250 241,295 10 Vesele® trademark 25,287 717 24,570 10 Total $ 1,173,272 $ 117,900 $ 1,055,372 Expected amortization at June 30, 2015 is approximately $589,000 for each of the next five years and $2,667,000 thereafter. Goodwill The Novalere purchase price allocation was based upon an analysis of the fair value of the assets and liabilities acquired from Novalere. The final purchase price may be adjusted up to one year from the date of the acquisition. Identifying the fair value of the tangible and intangible assets and liabilities acquired required the use of estimates by management and were based upon currently available data, as noted below (See Note 5). The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share. The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicates an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill, the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. The goodwill was recorded as part of the acquisition of Semprae that occurred on December 24, 2013, and the acquisition of Novalere that occurred on February 5, 2015. There was no impairment of goodwill for the six months ended June 30, 2015 or the year ended December 31, 2014. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value. Financial Instruments If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a Beneficial Conversion Feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method. The Company’s February 2014 Convertible Debenture and September 2014 Convertible Debenture each contain a BCF (See Note 7). Income Taxes Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement with the relevant tax authority. There were no uncertain tax positions at June 30, 2015. Revenue Recognition, Trade Receivables and Deferred Revenue The Company generates revenues from product sales and the licensing of the rights to market and commercialize its products. The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition. Product Sales: The license agreements the Company enters into normally generate three separate components of revenue: 1) An initial payment due on signing or when certain specific conditions are met; 2) Royalties that are earned on an ongoing basis as sales are made or a pre-agreed transfer price and 3) Milestone payments that are earned when cumulative sales reach certain levels. Revenue from the initial payments or licensing fee is recognized when all required conditions are met. Royalties are recognized as earned based on the licensee’s sales. Revenue from the milestone payments is recognized when the cumulative revenue levels are reached. ASC 605-28, Milestone Method, is not used by the Company as these milestones are sales-based and similar to a royalty and the achievement of the sales levels is neither based, in whole or in part, on the vendor’s performance nor is a research or development deliverable. Sales Allowances The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves. Actual claims for rebates and returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was approximately $26,000 at June 30, 2015 and $24,000 at December 31, 2014. Cost of Product Sales Cost of product sales includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of three of its marketed products, Zestra®, Sensum+® and Vesele®. Research and Development Costs Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, post marketing clinical trials, material purchases and regulatory affairs. Stock-based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Equity Instruments Issued to Non-Employees for Services Issuances of the Company’s equity for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) or (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 9). Comprehensive Loss Comprehensive loss consists of net loss and other gains and losses affecting stockholders’ equity that, under U.S. GAAP, are excluded from net loss. Comprehensive loss was the same as net loss for the six months ended June 30, 2015 and 2014, as the Company has no other comprehensive income. Loss per Share Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted loss per share is computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the six months ended June 30, 2015 and 2014, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following table shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company as of June 30, 2015 and 2014: As of June 30, 2015 2014 Gross number of shares excluded: Restricted Stock units 19,033,482 7,937,791 Stock options 134,000 62,000 Convertible Notes 2,281,128 825,000 Warrants 1,630,973 630,973 Total 23,079,583 9,455,764 The above table does not include the ANDA Consideration Shares related to the Novalere acquisition, as they are considered contingently issuable (See Note 5). Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2015-11 , Inventory (Topic 330): Simplifying the Measurement of Inventory. Topic 330 In April 2015, the FASB has issued Accounting Standards Update (ASU) No. 2015-03 , Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In November 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. substantial doubt, In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers

LICENSE AGREEMENTS

LICENSE AGREEMENTS	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
LICENSE AGREEMENTS	OZ Biogenics Agreement In April, 2015, the Company entered into an exclusive license and distribution agreement with Oz Biogenics, based in Australia, under which Innovus has granted to Oz Biogenics an exclusive ten-year distribution right to market and sell Innovus’ products in Myanmar and Vietnam, including Zestra®, EjectDelay® for treating premature ejaculation, Sensum+®, Vesele® and Zestra Glide® is a. Under the ten-year term of this agreement, annual minimum orders are approximately $86,000 and total minimum orders are approximately $860,000. The Company has not recognized any revenue for the six months ended June 30, 2015 pursuant to this agreement. BroadMed SAL Agreement In April, 2015, the Company entered into an exclusive license and distribution agreement with BroadMed SAL, a Lebanese company, under which Innovus granted to BroadMed an exclusive license to market and sell in Lebanon Innovus Pharma’s Sensum+® to increase penile sensitivity. Under the agreement, Innovus PharmaIn addition, the Company is eligible to receive up to $11.1 million dollars in upfront and sales milestone payments. For the six months ended June 30, 2015, the Company received and recognized $5,000 in upfront payments under this agreement. Tabuk Pharmaceuticals Agreement On March 17, 2015, the Company entered into an exclusive license agreement with Tabuk Pharmaceuticals, a Saudi Arabian company (“Tabuk”), with large commercial operations in the Middle East and North Africa, under which the Company granted to Tabuk an exclusive license to market and sell the Company’s topical treatment for Premature Ejaculation, EjectDelay®, Sensum+ ® product for increasing penile sensitivity and Vesele ® product to increase sexual and cognitive health in the Kingdom of Saudi Arabia, Iraq, Sudan, Tunisia, Morocco (for the Vesele product only), Libya, Algeria, Jordan, Kuwait, UAE, Qatar, Oman, Yemen and Egypt (collectively the “Territory”). Under the agreement, Innovus will receive an upfront payment and is eligible to receive up to approximately $86.5 million U.S. dollars upon and subject to the achievement of sales milestones based on cumulative supplied units of the licensed products in the Territory plus royalties based on Tabuk’s net sales. The Company did not recognize any revenue for the six months ended June 30, 2015 pursuant to this agreement.	CRI Inc. License Agreement On April 19, 2013, the Company and CRI entered into an asset purchase agreement (the “CRI Asset Purchase Agreement”) pursuant to which the Company acquired: · all of CRI’s rights in past, present and future Sensum+® product formulations and presentations, and · an exclusive, perpetual license to commercialize Sensum+® products in all territories except for the United States. CRI has retained commercialization rights for Sensum+® in the United States. In consideration for such assets and license, the Company agreed to issue to CRI shares of the Company’s common stock valued at $250,000 within 10 days of the closing. The Company issued 631,313 shares to CRI in this regard. The Company will be required to issue to CRI shares of the Company’s common stock valued at an aggregate of $200,000 for milestones relating to additional clinical data received, which milestone has not yet been met. The number of shares to be issued was or will be determined based on the average of the closing price for the 10 trading days immediately preceding the issue date. CRI will have certain “piggyback” registration rights with respect to the shares described above, which rights provide that, if the Company registers shares of its common stock under the Securities Act in connection with a public offering, CRI will have the right to include such shares in that registration, subject to certain exceptions. The Company recorded an asset totaling $250,000 related to the CRI Asset Purchase Agreement and will amortize this amount over its estimated useful life of 10 years. The Company has recorded amortization of $16,736 beginning in the fourth quarter of 2013 when it commenced usage. The accumulated amortization at December 31, 2014 was $31,250. The CRI Asset Purchase Agreement also requires the Company to pay to CRI up to $7 million in cash milestone payments based on first achievement of annual net sales targets plus a royalty based on annual net sales. The obligation for these payments expires on April 19, 2023 or the expiration of the last of CRI’s patent claims covering the product or its use outside the United States, whichever is sooner. No sales milestones have been met under this agreement in 2014 or 2013, and royalties owed to CRI were immaterial and included in net revenues. In connection with this transaction, the Company engaged a consultant to assist in the technology transfer and manufacturing of the product. In consideration of such services, the Company issued to the consultant shares of its common stock valued at an aggregate of $75,000 at various dates following the closing of the CRI transaction. In each case, the number of shares issuable is determined based on the average of the closing price of the Company’s common stock for the 10 trading days immediately preceding the issue date (see Note 7). In connection with this transaction, the Company engaged a consultant to assist in the technology transfer and manufacturing of the product. In consideration of such services, the Company issued to the consultant shares of its common stock valued at an aggregate of $75,000 at various dates following the closing of the CRI transaction. In each case, the number of shares issuable is determined based on the average of the closing price of the Company’s common stock for the 10 trading days immediately preceding the issue date (see Note 7). Sothema Laboratories Agreement On September 23, 2014, the Company entered into an exclusive license agreement with Sothema Laboratories, SARL, a Moroccan publicly traded company (“Sothema”), under which Innovus granted to Sothema an exclusive license to market and sell Innovus’ topical treatment for Female Sexual Interest/Arousal Disorder (“FSI/AD”) (based on the latest Canadian approval of the indication), Zestra® and its high viscosity low osmolality water-based lubricant Zestra Glide® in the North African countries of Egypt, Morocco, Algeria, Tunisia and Libya, the Middle Eastern countries of Iraq, Jordan, Saudi Arabia and the United Arab Emirates and the West African countries of Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo (collectively the “Territory”). Under the agreement, Innovus received an upfront payment and is eligible to receive up to approximately $171 million dollars upon and subject to the achievement of sales milestones based on cumulative supplied units of the licensed products in the Territory, plus a pre-negotiated transfer price per unit. Pursuant to the guidance in ASC 605-28, Milestone Method Orimed Pharma Agreement On September 18, 2014, the Company entered into an exclusive license agreement with Orimed Pharma (“Orimed”), an affiliate of JAMP Pharma, under which Innovus granted to Orimed an exclusive license to market and sell in Canada, Innovus’ (a) topical treatment for FSI/AD, Zestra®, (b) topical treatment for premature ejaculation, EjectDelay®, (c) product Sensum+™ to increase penile sensitivity and (d) high viscosity low osmolality water-based lubricant, Zestra Glide®. Under the agreement, Innovus received an upfront payment and is eligible to receive up to approximately CN $94.5 million upon and subject to the achievement of sales milestones based on cumulative gross sales in Canada by Orimed plus certain double-digit tiered royalties based on Orimed’s cumulative net sales in Canada. Milestone Method Tramorgan Agreement On September 18, 2014, the Company entered into an exclusive license and distribution agreement with Tramorgan Limited (“Tramorgan”), pursuant to which Tramorgan will market the Company’s topical consumer care product to increase penile sensitivity, Sensum+™ in the United Kingdom (“UK”). The agreement has an initial term through December 31, 2016 and can be extended thereafter for a twenty-four month period if Tramorgan has reached certain aggregate sales milestones. Pursuant to the agreement, Innovus is eligible to receive (a) up to $44 million dollars in sales milestone payments based on Tramorgan’s attainment of certain levels of cumulative gross sales amounts plus (b) fifty percent (50%) royalties based on Tramorgan’s net sales after applicable distribution costs in the UK. During the year ended December 31, 2014, no revenue was recognized for the sales milestones and royalty payments of the agreement. Ovation Pharma Agreements On September 9, 2013, the Company entered into a license and distribution agreement with Ovation Pharma SARL (“Ovation”) under which it granted to Ovation an exclusive license to market and sell the Company’s topical treatment for reduced penile sensitivity, Sensum+®, in Morocco. Ovation may pay the Company up to approximately $11.25 million upon achievement of commercial milestones. In addition, Ovation has agreed to certain upfront minimum purchases of Sensum+™ based upon an agreed upon transfer price and yearly minimum purchases. During the year ended December 31, 2014, the Company recognized $100,000 in revenue related to product sales from Ovation. On September 9, 2013 the Company entered into a second license and distribution agreement with Ovation under which it granted to Ovation an exclusive license to market and sell the Company’s topical premature ejaculation treatment, EjectDelay®, in Morocco. Ovation may pay the Company up to approximately $18.6 million allocated among a fixed upfront license fee and the achievement of regulatory and commercial milestones. In addition, Ovation has agreed to certain upfront minimum purchases of EjectDelay ®based upon an agreed upon transfer price and minimum yearly purchases. The Company determined that the fixed upfront license fee payment was a separate deliverable under the EjectDelay™ license and distribution agreement and therefore recorded a receivable on its balance sheet. There were no additional obligations or deliverables associated with the license. During the year ended December 31, 2014, the Company recognized $75,000 in revenue related to the upfront license fee from Ovation.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	Acquisition of Novalere On February 5, 2015 (the "Closing Date”) the Company, Innovus Pharma Acquisition Corporation, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary I”), Innovus Pharma Acquisition Corporation II, a Delaware corporation and a wholly-owned subsidiary of the Company (“Merger Subsidiary II”), Novalere FP, Inc., a Delaware corporation (“Novalere FP”) and Novalere Holdings, LLC, a Delaware limited liability company (“Novalere Holdings”), as representative of the shareholders of Novalere (the “Novalere Stockholders”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Subsidiary I merged into Novalere and then Novalere merged with and into Merger Subsidiary II (the “Merger”), with Merger Subsidiary II surviving as a wholly-owned subsidiary of the Company. Pursuant to the articles of merger effectuating the Merger, Merger Subsidiary II changed its name to Novalere, Inc. With the Merger, Innovus acquired the worldwide rights to market and sell the Fluticare™ brand (Fluticasone propionate nasal spray) and the related manufacturing agreement from Novalere FP. Innovus anticipates that the ANDA filed in November 2014 by the manufacturer with the U.S. Food and Drug Administration (“FDA ”) will be approved by the end of 2015 or in the first half of 2016, which will allow the Company to market and sell Fluticare™ over the counter. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. Under the terms of the Merger Agreement, at the Closing Date, the Novalere Stockholders received 50% of the Consideration Shares (the “Closing Consideration Shares”) and the remaining 50% of the Consideration Shares (the “ANDA Consideration Shares”) will be delivered only if an Abbreviated New Drug Application of Fluticasone Propionate Nasal Spray of Novalere Manufacturing Partners (the “Target Product”) is approved by the Food and Drug Administration (the “ANDA Approval”). A portion of the Closing Consideration Shares and, if ANDA Approval is obtained prior to the 18 month anniversary of the Closing Date, a portion of the ANDA Consideration Shares, will be held in escrow for a period of 18 months from the Closing Date to be applied towards any indemnification claims by Innovus pursuant to the Merger Agreement. In addition, the Novalere Stockholders are entitled to receive, if and when earned, earn-out payments (the “Earn-Out Payments”). For every $5 million in Net Revenue (as defined in the Merger Agreement) realized by sales of Fluticare™ , the Novalere Stockholders will be entitled to receive, on a pro rata basis, $500,000, subject to cumulative maximum Earn-Out Payments of $2.5 million. The closing price of the Company’s common stock on the Closing Date was $0.20 per share. The Company issued 12,947,657 Closing Consideration Shares of its common stock at the Closing Date, the Fair Market Value, (‘FMV”) of the Closing Consideration Shares was $2,071,625 as of the Closing Date. 12,280,796 shares were placed in escrow to cover any potential claims that the Company might have with respect to disclosures made by the Novalere. The fair value of the contingent consideration is based on preliminary cash flow projections and other assumptions for the ANDA Consideration shares and the Earn-Out Payments, future changes in the estimate of such contingent consideration will be recognized as a charge to operations expense. Issuance of the 12,947,655 ANDA Consideration Shares is subject to milestones, achievement of which is uncertain. The FMV of the ANDA Consideration Shares was established to account for the uncertainty in the future value of the shares. The value of the shares as derived using the options pricing model was then weighted based on the probability of achieving the milestones to determine the FMV of the ANDA Consideration Shares and estimated potential share prices at such dates. Based on the aforementioned calculation the fair market value of the ANDA Consideration shares was determined to be $1,657,300. The total fair market value of the considerations issued and to be issued for the transaction are as follows: Shares FMV Closing Consideration Shares 12,947,657 $ 2,071,625 ANDA Consideration Shares 12,947,655 1,657,300 Total 25,895,312 $ 3,728,925 Based on the assumptions, the fair market value of the Earn Out Payments was determined to be $1,205,000. The preliminary fair values of the future earn out payments was determined by applying the income approach, using several significant unobservable inputs for projected cash flows and a discount rate. These inputs are considered Level 3 inputs under the fair value measurements and disclosure guidance. The total purchase price is summarized as follows: Cash Consideration $ 43,124 Common Stock issued at closing 2,071,625 ANDA Consideration Shares 1,657,300 Fair Market Value of Future Earn Out Payments 1,205,000 Total $ 4,977,049 The fair values of acquired assets and liabilities are based on preliminary cash flow projections and other assumptions. The preliminary fair values of acquired intangible assets were determined using several significant unobservable inputs for projected cash flows and a discount rate. These inputs are considered Level 3 inputs under the fair value measurements and disclosure guidance. The transaction has been accounted for as a business combination under the acquisition method of accounting. Accordingly, the tangible assets and identifiable intangible assets acquired and liabilities assumed have been recorded at fair value, with the remaining purchase price recorded as goodwill. The fair values of assets acquired and liabilities assumed at the transaction date are summarized below: Cash $ 43,124 Prepaid expenses and other current assets 25,906 Total Tangible Assets 69,030 Product rights and related Manufacturing agreement 4,681,000 Trademarks 150,000 Total identifiable Intangible Assets 4,831,000 Goodwill 120,143 Total Acquired Assets 5,020,173 Other current liabilities (43,124 ) Total Assumed Liabilities (43,124 ) Acquired Assets Net of Assumed Liabilities $ 4,977,049 The carrying value of current assets and liabilities and fixed assets in Novalere’s financial statements are considered to be a proxy for the fair value of those assets and liabilities. Novalere is a pre-commercial organization specializing in selling and marketing nasal steroid products; most of the value in Novalere is applicable to the product rights and related manufacturing agreement. Novalere holds a non-exclusive, worldwide, royalty-free license to market, promote, sell, offer for sale, import and distribute the product. This business relationship is contractual in nature and meets the separability criterion and as a result is considered an identifiable intangible asset recognized separately from goodwill. The value of the business relationship is included in goodwill under US GAAP. Goodwill is calculated as the difference between the fair value of the consideration expected to be transferred and the values assigned to the identifiable tangible assets acquired and liabilities assumed. The acquired goodwill presented in the above table reflects the estimated goodwill from the preliminary purchase price allocation. The cash acquired was used to pay amounts due to shareholders, thus was received by the Company The purchase price allocation is subject to completion of our analysis of the fair value of the assets and liabilities of Novalere as of the date of the acquisition. These adjustments could be material. The final valuation is expected to be completed as soon as practicable but no later than one year from the consummation of the Merger. The establishment of the fair value of the consideration for a Merger, and the allocation to identifiable tangible and intangible assets and liabilities, requires the extensive use of accounting estimates and management judgment. The fair values assigned to the assets acquired and liabilities assumed are based on estimates and assumptions from data currently available. Supplemental Pro Forma Information for 2015 Acquisition (unaudited) The following unaudited supplemental pro forma information for the three and six months ended June 30, 2014 and 2015, assumes the contribution of Novalere had occurred as of January 1, 2014, giving effect to purchase accounting adjustments. The pro forma data is for informational purposes only and may not necessarily reflect the actual results of operations had Novalere been operated as part of the Company since January 1, 2014. Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 As Reported Pro Form (unaudited) As Reported Pro Forma (unaudited) Revenue $ 380,325 $ 380,325 $ 279,872 $ 289,732 Net Loss $ (2,366,031 ) $ (2,682,161 ) $ 2,525,029 $ (4,139321 ) Loss per Common Share-basic and diluted $ (0.06 ) $ (0.07 ) $ (0.11 ) $ (0.11 ) Shares used in computed net loss per common share 37,909,664 40,413,334 23,191,829 36,139,486 Purchase of Semprae Laboratories, Inc. On December 24, 2013 (the “Semprae Closing Date”), the Company, obtained 100% of the outstanding shares of Semprae in exchange for the issuance of 3,201,776 shares of the Company’s common stock. In addition, the Company agreed to pay the former shareholders an annual royalty (“Royalty”) equal to five percent (5%) of the net sales from Zestra® and Zestra® Glide and any second generation products derived primarily therefrom (“Semprae Target Product”) up until the time that a generic version of such Semprae Target Product is introduced worldwide by a third party.	Acquisition of Semprae On December 24, 2013 (the “Closing Date”), the Company, through Merger Sub obtained 100% of the outstanding shares of Semprae in exchange for the issuance of 3,201,776 shares of the Company’s common stock, which shares represented fifteen percent (15%) of the total issued and outstanding shares of the Company as of the close of business on the Closing Date, whereupon Merger Sub was renamed Semprae Laboratories, Inc. Also, the Company agreed to pay $343,500 to the New Jersey Economic Development Authority (“NJEDA”) as settlement-in-full for an outstanding loan of approximately $640,000 owed by the former stockholder’s of Semprae, in full satisfaction of the obligation to the NJEDA. In addition, the Company agreed to pay the former shareholders an annual royalty (“Royalty”) equal to five percent (5%) of the net sales from Zestra® and Zestra® Glide and any second generation products derived primarily therefrom (“Target Products”) up until the time that a generic version of such Target Product is introduced worldwide by a third party. The fair market value of the Company’s common stock issued on the Closing Date was $0.30 per share, which resulted in a fair market value of $960,530 for the common stock issued to the shareholders of Semprae. The fair value of the shares of common stock issued were determined by quoted market prices that are considered to be Level 1 inputs under the fair value measurements and disclosure guidance. A portion of the shares issued were held in escrow pending reconciliation of assets received and liabilities assumed at the acquisition date. At December 31, 2014 approximately $60,000 has been agreed by both parties which is the amount that will be returned to the Company in the form of common stock shares at its then quoted market price. The transaction has been accounted for as a business combination under the acquisition method of accounting. Accordingly, the tangible assets and identifiable intangible assets acquired and liabilities assumed have been recorded at fair value, with the remaining purchase price recorded as goodwill. The fair values of current assets and liabilities approximated their book value. The fair values of acquired assets and liabilities are based on preliminary cash flow projections and other assumptions. The fair values of acquired intangible assets were determined using several significant unobservable inputs for projected cash flows and a discount rate. These inputs are considered Level 3 inputs under the fair value measurements and disclosure guidance. The agreement to pay the annual Royalty resulted in the recognition of a contingent consideration, which is recognized at the inception of the transaction, and subsequent changes to estimate of the amounts of contingent consideration to be paid will be recognized as charges or credits in the statement of operations. The fair value of the contingent consideration is based on preliminary cash flow projections, growth in expected product sales and other assumptions. Based on the assumptions, the fair value of the Royalty was determined to be $308,273 at the date of acquisition. The fair value of the royalty was determined by applying the income approach, using several significant unobservable inputs for projected cash flows and a discount rate of 40% commensurate with the Company’s cost of capital and expectation of the revenue growth for products at their life cycle stage. These inputs are considered Level 3 inputs under the fair value measurements and disclosure guidance. During 2014, approximately $87,000 was paid under this arrangement and the fair value of the expected royalties to be paid was increased by $103,000. The fair value of contingent consideration was increased to $324,000 at December 31, 2014, based on the new estimated fair value of the consideration, net of the amounts to be returned to the Company as discussed above. As a result of the acquisition, the Company acquired all of Semprae’s assets and liabilities, including its two women’s products, which were added to the Company’s current portfolio of male sexual dysfunction products and other topical products. The Company maintains a number of international patents and trademarks on the two products acquired from Semprae. The aggregate purchase price consideration was as follows: Fair value of common stock issued to Semprae shareholders, net of shares to be returned from escrow $ 900,909 Fair value of royalty 308,273 Net purchase price consideration $ 1,209,182 The fair values of assets acquired and liabilities assumed at the transaction date and as adjusted during the reconciliation process with the seller, are summarized below: Cash $ 3,749 Accounts receivable 78,445 Inventory 180,441 Prepaid expenses 16,362 Property and equipment 78,973 Customer contracts 611,119 Patents 99,894 Trademarks 160,278 Goodwill 429,225 Accounts Payable (105,804 ) Debt (343,500 ) Net Purchase Price Consideration $ 1,209,182

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Notes Payable [Abstract]
NOTES PAYABLE	The following table summarizes the outstanding unsecured (non-related party) notes payable at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Current notes payable: January 2015 Non-Convertible Debenture $ 110,000 $ - February 2014 Convertible Debenture 330,000 330,000 August 2014 Debenture 40,000 40,000 Total current notes payable 480,000 370,000 Less: Debt discount, net of accretion (current) (120,085 ) (55,982 ) $ 359,915 $ 314,018 Long-term notes -payable September 2014 Convertible Debenture $ - $ 92,000 Less: Debt discount, net of accretion (long-term) - (67,726 ) $ - $ 24,274 February 2014 Convertible Debenture On February 13, 2014, the Company entered into a securities purchase agreement with an unrelated third party accredited investor pursuant to which the Company issued a convertible debenture in the aggregate principal amount of $330,000 (issued at an original issue discount of 10%) (the “February 2014 Convertible Debenture”) and a warrant to purchase 250,000 shares of the Company's common stock (“Warrant Agreement”). The February 2014 Convertible Debenture bears interest at the rate of 10% per annum and the principal amount and interest are payable on March 13, 2015. The effective interest rate will be calculated considering the original issue discount, the BCF and the Warrant Agreement. The February 2014 Convertible Debenture may be converted in whole or in part at any time prior to March 13, 2015, by the holder at a conversion price of $0.40 per share, subject to adjustment. The Company has the option to redeem the February 2014 Convertible Debenture before its maturity by payment in cash of 125% of the then outstanding principal amount plus accrued interest and other amounts due. The February 2014 Convertible Debenture was issued with an original issue discount of $30,000. The original issue discount was included in the balance sheet as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the loan. The Warrant Agreement provides the holder with the right to acquire up to 250,000 shares of common stock at an exercise price of $0.50 per share, subject to certain adjustments as described in the Warrant Agreement, at any time through the fifth anniversary of its issuance date. The allocated relative fair value of the Warrant Agreement of $96,533 has been included in the balance sheet as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the loan. On March 12, 2015, the Company entered into an amendment agreement whereby the February 2014 Convertible Debenture was amended. Pursuant to the Agreement, the maturity date of the Debenture was amended from March 13, 2015 to September 13, 2015. In addition, the Debenture was amended so that the Company may prepay the Debenture at its option without penalty. In connection with the execution of the Agreement, the Company issued 250,000 shares of the Company’s common stock and amended and restated the warrant. The Warrant was originally exercisable until February 13, 2019 for 250,000 shares of Common Stock at an exercise price of $0.50 per share, subject to anti-dilution protection. The Warrant, as amended and restated, has been increased to 500,000 shares and is exercisable until March 12, 2020 at an exercise price of $0.30 per share of Common Stock. The Warrant, as amended and restated, contains certain anti-dilution protection provisions. The February 2014 Convertible Debenture contained a BCF. The intrinsic value of the BCF at the date of issuance was determined by measuring the difference between the accounting conversion price and the intrinsic value of the stock at the commitment date. The Company recorded a debt discount for the intrinsic value of the BCF, which was limited to the proceeds with an offsetting increase to paid-in-capital. The BCF of $179,032, along with the original issue discount of $30,000, has been fully accreted as non-cash interest expense using the effective interest method to the maturity date of March 13, 2015. The amendment to the February 2014 Convertible Debenture was considered to be an extinguishment of debt as the terms of the debt instruments immediately before and after the amendment were considered to be substantially different as defined in the accounting guidance. In accordance with debt extinguishment accounting requirements, the new debt instrument was recorded at its fair value as determined on the amendment date. The estimated fair value of the note payable was $260,542, net of related debt discount of $69,458, which has been recorded in the consolidated balance sheet. In addition, the warrants associated with the February 2014 Convertible Debenture have a down-round that has been accounted for as a derivative. The Company valued the derivative using a Probability Weighted Black-Scholes Option-Pricing Model and the following inputs, stock price on the day of issuance $0.14, 100% volatility, the term of the warrants (5 years) and the risk-free interest rate 1.51 %. These unobservable inputs represent a Level 3 measurement within the fair value hierarchy. The estimated fair value of the warrants as of the date of issuance was $76,299 which has been recorded as a derivative liability in the consolidated balance sheet. The estimated fair value of the warrant liability will be revalued on a quarterly basis and any resulting increases or decreases in the estimated fair value will be recorded as an adjustment to operating earnings. (See Note 9) The 2015 Amendment resulted in a net difference of $32,500 has been recorded as an extinguishment loss and is recorded in the other income (expense), net line item of the consolidated statements of operations and other comprehensive loss. August 2014 Debenture On August 30, 2014, the Company issued an 8% debenture to an unrelated third party investor in the principal amount of $40,000 (the “August 2014 Debenture”). The August 2014 Debenture bears interest at the rate of 8% per annum. The principal amount and interest were payable on August 29, 2015. On July 21, 2015, the Company received an additional $30,000 from the investor and amended and restated this agreement to a new principle balance of $73,200 (including accrued interest) and a new maturity date of July 21, 2016. (See Note 10) September 2014 Convertible Debenture On September 29, 2014, the Company issued a convertible promissory note (the “Note”) to an unrelated third party accredited investor for $50,000. The Note had a principal face amount of $92,000, did not accrue interest and was due on March 28, 2016 (the “Maturity Date”). The Note carries the right to convert any part of the principal amount under the Note into shares of common stock at a conversion price of $0.40 per share (the “Conversion Price”). On the Maturity Date, any outstanding principal due under the Note will be automatically converted into common stock at the Conversion Price. The Note holder is prohibited from converting the Note to the extent that, as a result of such conversion, it beneficially owns more than 9.99%, in the aggregate, of the issued and outstanding shares of common stock calculated immediately after giving effect to the issuance of shares of common stock upon the conversion of the Note. The September 2014 Convertible Debenture contained a BCF. The intrinsic value of the BCF at the date of issuance was determined by measuring the difference between the accounting conversion price and the intrinsic value of the stock at the commitment date. The Company recorded a debt discount for the intrinsic value of the BCF, which was limited to the proceeds with an offsetting increase to paid-in-capital. The BCF of $37,400, along with the original issue discount of $42,000, has been included in the balance sheet at June 30, 2015 as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the September 2014 Convertible Debenture using the effective interest method. The implicit interest rate was 41%. The September 2014 Convertible Debenture was converted into 230,000 shares common stock according to the terms of the note, by the investor on March 30, 2015. As such, the Company recorded the conversion of the note and the remaining BCF was charged to interest expense. January 2015 Non-Convertible Debenture On January 21, 2015, the Company entered into a securities purchase agreement with an unrelated third party accredited investor whereby the Company issued and sold a promissory note in the principal face amount of $110,000 and warrants to purchase up to 500,000 shares of the Company’s common stock for gross proceeds of $100,000. The Note is due on July 31, 2015 and accrued a one-time interest charge of 8% on the closing date. The warrants are exercisable for five years from the closing date at an exercise price of $0.30 per share of Common Stock. The warrants contain anti-dilution protection, including protection upon dilutive issuances. The Warrants issued in connection with the January 2015 notes are measured at fair value and classified as a liability because these warrants contain anti-dilution protection and therefore cannot be considered indexed to the Company’s own stock which is a requirement for the scope exception as outlined under ASC 815. The estimated fair value of the warrants was determined using Probability Weighted Black-Scholes Option-Pricing Model, resulting in a value of $99,999 on the date they were issued. The Debt was recorded using the residual method, at $1, net of a debt discount of $109,999. The discount has been included in the balance sheet at June 30, 2015 as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the January 2015 Non-Convertible Debenture using the effective interest method. The fair value will be affected by changes in inputs to that model including our stock price, expected stock price volatility, the contractual term and the risk-free interest rate. The Company will continue to classify the fair value of the warrants as a liability until the warrants are exercised, expire or are amended in a way that would no longer require these warrants to be classified as a liability, whichever comes first. The anti-dilution protection for the warrants survives for the life of the warrants which ends in January 2020. (See Note 9) Interest Expense The Company recognized interest expense on the unsecured (non-related party) notes payable, including amortization of debt discount of $43,642 and 184,379 for the three and six months ended June 30, 2015, respectively.	The following table summarizes the outstanding unsecured notes payable (non-related party) at December 31, 2014 and 2013: Current notes payable 2014 2013 December 2013 Debenture $ - $ 350,000 February 2014 Convertible Debenture 330,000 - August 2014 Debenture 40,000 - January 2013 Debenture-non related party - 20,000 370,000 370,000 Less: Debt discount, net of accretion (current) (55,982 ) - $ 314,018 $ 370,000 Long-term notes -payable September 2014 Convertible Debenture $ 92,000 $ - Less: Debt discount, net of accretion (long-term) (67,726 ) - $ 24,274 $ - December 2013 Debenture On December 23, 2013, the Company issued an 8% debenture to an unrelated third party accredited investor in the principal amount of $350,000 (the “December 2013 Debenture”). The December 2013 Debenture bears interest at the rate of 8% per annum. The principal amount and interest was payable on August 31, 2014. On August 31, 2014, the maturity date of the December 2013 Debenture was extended to September 15, 2014. On September 15, 2014, a third party investor (“Investor”) purchased the December 2013 Debenture and subsequently on September 15, 2014 the Company entered into a debt exchange agreement with the Investor, pursuant to which the Company issued 1,900,000 shares of the Company’s common stock with a fair value of $779,000 based upon the quoted market price at issuance, in exchange for the retirement of the December 2013 Debenture. During the year ended December 31, 2014 the Company recorded a $406,833 loss on the extinguishment of debt. February 2014 Convertible Debenture and Warrant Financing On February 13, 2014, the Company entered into a securities purchase agreement with an unrelated third party accredited investor pursuant to which the Company issued a convertible debenture in the aggregate principal amount of $330,000 (issued at an original issue discount of 10%) (the “February 2014 Convertible Debenture”) and a warrant to purchase 250,000 shares of the Company’s common stock (“Warrant Agreement”). The February 2014 Convertible Debenture bears interest at the rate of 10% per annum and the principal amount and interest are payable on March 13, 2015. The effective interest rate will be calculated considering the original issue discount, the BCF and the Warrant Agreement. The February 2014 Convertible Debenture may be converted in whole or in part at any time prior to the maturity date by the holder at a conversion price of $0.40 per share, subject to adjustment. The Company has the option to redeem the February 2014 Convertible Debenture before its maturity by payment in cash of 125% of the then outstanding principal amount plus accrued interest and other amounts due. The February 2014 Convertible Debenture was issued with an original issue discount of $30,000. The original issue discount has been included in the balance sheet as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the loan. The Warrant Agreement provides the holder with the right to acquire up to 250,000 shares of common stock at an exercise price of $0.50 per share, subject to certain adjustments as described in the Warrant Agreement, at any time through the fifth anniversary of its issuance date. The allocated relative fair value of the Warrant Agreement of $96,533 has been included in the balance sheet as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the loan. The February 2014 Convertible Debenture contains a BCF. The intrinsic value of the BCF at the date of issuance was determined by measuring the difference between the accounting conversion price and the intrinsic value of the stock at the commitment date. The Company recorded a debt discount for the intrinsic value of the BCF, which was limited to the proceeds with an offsetting increase to paid-in-capital. The BCF of $179,032 along with the original issue discount of $30,000 has been included in the balance sheet at December 31, 2014 as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the February 2014 Convertible Debenture using the effective interest method. On March 6, 2015 we entered into an agreement with the note holder to extend the note for six months. The new maturity date of the note is September 13, 2015. As consideration for the extension, the Company granted the note holder 250,000 shares of common stock, 250,000 additional warrants and reduced the exercise price of the warrants from $0.50 to $0.30. This consideration will result is an additional charge to interest expense for the fair value of the instruments granted. August 2014 Debenture On August 30, 2014, the Company issued an 8% debenture to an unrelated third party investor in the principal amount of $40,000 (the “August 2014 Debenture”). The August 2014 Debenture bears interest at the rate of 8% per annum. The principal amount and interest are payable on August 29, 2015. September 2014 Convertible Debenture On September 29, 2014, the Company issued a convertible promissory note (the “Note”) to an unrelated third party accredited investor for $50,000. The Note has a principal face amount of $92,000, does not accrue interest, and is due on March 28, 2016 (the “Maturity Date”). The Note bears the right to convert any part of the principal amount under the Note into shares of the Company’s common stock at a conversion price of $0.40 per share (the “Conversion Price”). On the Maturity Date, any outstanding principal due under the Note will be automatically converted into common stock at the Conversion Price. The Note prohibits the holder from converting the Note to the extent that, as a result of such conversion, the holder would beneficially own more than 9.99%, in the aggregate, of the issued and outstanding shares of common stock calculated immediately after giving effect to the issuance of shares of common stock upon the conversion of the Note. The September 2014 Convertible Debenture contains a BCF. The intrinsic value of the BCF at the date of issuance was determined by measuring the difference between the accounting conversion price and the intrinsic value of the stock at the commitment date. The Company recorded a debt discount for the intrinsic value of the BCF, which was limited to the proceeds with an offsetting increase to paid-in-capital. The BCF of $37,400 along with the original issue discount of $42,000 has been included in the balance sheet at December 31, 2014 as a discount to the related debt security, and is being accreted as non-cash interest expense over the expected term of the September 2014 Convertible Debenture using the effective interest method. The implicit interest rate was 41%, due to the original issue discount and the beneficial conversion feature. During the year ended December 31, 2014 the Company recognized approximately $12,000 of such debt discount and $68,000 will be amortized in 2015 and 2016. Interest Expense. The Company recognized total interest expense on the unsecured (non-related party) notes payable, including amortization of debt discount, of $316,800 and $100 for the year ended December 31, 2014 and 2013, respectively.

DEBENTURES _ RELATED PARTIES

DEBENTURES – RELATED PARTIES	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
DEBENTURES – RELATED PARTIES	The following table summarizes the outstanding debentures to related parties at June 30, 2015 and December 31, 2014. Certain of the debentures outstanding for the year ended December 31, 2013 were converted in 2014 and were no longer outstanding at June 30, 2015. June 30, 2015 December 31, 2014 LOC Convertible Debenture $ 424,192 $ 424,078 January 2015 Non-Convertible Debenture-CFO 55,000 2014 Non-Convertible Notes-Related Party 150,000 150,000 Total 629,192 574,078 Less : Debt Discount, net of accretion (98,310 ) (76,492 ) Sub-Total 530,882 497,586 Less: Current Portion (150,108 ) - Total $ 380,774 $ 497,586 January 2015 Non-Convertible Debenture - Former CFO On January 21, 2015, the Company entered into a securities purchase agreement with the Company’s former Chief Financial Officer whereby the Company issued and sold a promissory note in the principal face amount of $55,000 and warrants to purchase up to 250,000 shares of the Company’s common stock for gross proceeds of $50,000. The Note is due on July 31, 2015 and accrued a one-time interest charge of 8% on the closing date. The warrants are exercisable for five years from the closing date at an exercise price of $0.30 per share of Common Stock. The warrants contain anti-dilution protection, including protection upon dilutive issuances. The note was repaid on July 31, 2015. The Warrants issued in connection with the January 2015 Non-Convertible Debenture-CFO are measured at fair value and classified as a liability because these warrants contain anti-dilution protection and therefore, cannot be considered indexed to the Company’s own stock which is a requirement for the scope exception as outlined under ASC 815. The estimated fair value of the warrants was determined using Probability Weighted Black-Scholes Option-Pricing Model, resulting in a value of $49,999 on the date they were issued. The Debt was recorded using the residual method, at $1, net of a debt discount of $54,999. The discount has been included in the balance sheet at June 30, 2015 as a discount to the related debt security and is being accreted as non-cash interest expense over the expected term of the January 2015 Non-Convertible Debenture using the effective interest method. The fair value will be affected by changes in inputs to that model including our stock price, expected stock price volatility, the contractual term and the risk-free interest rate. The Company will continue to classify the fair value of the warrants as a liability until the warrants are exercised, expire or are amended in a way that would no longer require these warrants to be classified as a liability, whichever comes first. The anti-dilution protection for the warrants survives for the life of the warrants which ends in January 2020. (See Note 9) Line of Credit – Convertible Debenture In January 2013, the Company entered into a line of credit convertible debenture with its President and Chief Executive Officer (the “LOC Convertible Debenture”). Under the terms of its original issuance: (1) the Company could request to borrow up to a maximum principal amount of $250,000 from time to time; (2) amounts borrowed bore an annual interest rate of 8%; (3) the amounts borrowed plus accrued interest were payable in cash at the earlier of January 14, 2014 or when the Company completes a Financing; and (4) the holder had sole discretion to determine whether or not to make an advance upon the Company’s request. During 2013, the LOC Convertible Debenture was further amended to: (1) increase the maximum principal amount borrowable to $1 million; and (2) change the holder’s funding commitment to automatically terminate on the earlier of either (a) when the Company completes a financing with minimum net proceeds of at least $4 million, or (b) July 1, 2016. The securities to be issued upon automatic conversion will be either the Company’s securities that are issued to the investors in the Financing or, if the Financing does not occur by July 1, 2016, shares of the Company’s common stock based on a conversion price of $0.312 per share. The LOC Convertible Debenture continues to bear interest at a rate of 8% per annum. The other material terms of the LOC Convertible Debenture were not changed. During the year ended December 31, 2013, the Company borrowed $448,475 pursuant to the LOC Convertible Debenture. The LOC Convertible Debenture contained a BCF of $98,335, which was included in the balance sheet at December 31, 2013 as a discount to the related debt security and accreted as non-cash interest expense over the expected term of the loan using the effective interest method. On February 19, 2014, the Company agreed with the holder of the LOC Convertible Debenture to convert the then outstanding principal and interest owed as of such date into shares of the Company’s common stock at a conversion price of $0.40 per share. The principal and interest amount owed under the LOC Convertible Debenture immediately prior to conversion was $476,165, which was converted into 1,190,411 shares of the Company’s common stock. The debt discount of $89,452 related to the BCF for the converted portion was recorded as interest expense. On July 22, 2014, the Company agreed with the holder of the LOC Convertible Debenture to increase the principal amount that may be borrowed from up to $1,000,000 to up to $1,500,000. On August 12, 2015, the principal amount that may be borrowed was increased to $2,000,000 and the automatic termination date described above was extended to October 1, 2016. During the six months ended June 30, 2015, the Company borrowed $113 under the LOC Convertible Debenture. The $113 borrowed under the LOC Convertible Debenture along with the accrued interest resulted in a BCF of $4,154. As of June 30, 2015, the Company owed a balance of $424,192 in principal amount under the LOC Convertible Debenture and there was approximately $1.1 million remaining available to use (increased to $1.6 million available on August 12, 2015 - Note 10). 2014 Non-Convertible Notes-Related Party On January 29, 2014, the Company issued an 8% note, in the amount of $25,000, to the Company’s President and Chief Executive Officer. The principal amount and interest are payable on January 22, 2015. This note was amended to extend the maturity date until January 22, 2016. On May 30, 2014, the Company issued an 8% debenture, in the amount of $50,000, to a member of the Company's Board of Directors. The principal amount and interest were payable on May 30, 2015 and the repayment date has been extended to May 30, 2016. On August 5, 2015 the debenture was converted into common shares (Note 10). On June 17, 2014, the Company issued an 8% debenture, in the amount of $50,000, to the Company’s former Chief Financial Officer. The principal and interest were payable on June 16, 2015 and were repaid off in July, 2015. On August 25, 2014, the Company issued an 8% debenture, in the amount of $25,000, to a member of the Company's Board of Directors. The principal amount and interest were payable on August 25, 2015. In July, 2015 the repayment date was extended to May 30, 2016 (See Note 10). On August 5, 2015 the debenture was converted into common shares (Note 10). Interest Expense The Company recognized interest expense on the outstanding debentures to related parties including amortization of the discount, of 27,629 and 58,781 for the three and six months ended June 30, 2015, respectively and $2,043 and $154,219 for the three and six months ended June 30, 2014.	The following table summarizes the outstanding debentures to related parties at December 31, 2014 and 2013. Certain of the debentures outstanding for the year ended December 31, 2013 were converted in 2014 and were no longer outstanding at December 31, 2014. 2014 2013 January 2012 Debentures $ - $ 142,668 January 2013 Debentures - 70,000 LOC Convertible Debenture 424,078 448,475 Debentures – related party 150,000 - 574,078 661,143 Less: Debt Discount, net of accretion (76,492 ) (149,678 ) $ 497,586 $ 511,465 January 2012 Convertible Debentures In January 2012, the Company issued 8% convertible debentures in the aggregate principal amount of $174,668 (the “January 2012 Debentures”) to six individuals. Under their original terms, the January 2012 Debentures were payable in cash at the earlier of January 13, 2013 or when the Company completes a financing with minimum gross proceeds of $4 million (the “Financing”), and the holders had the right to convert outstanding principal and interest accrued into the Company’s securities that were issued to the investors in the Financing. During 2012, $12,000 (plus accrued interest of $435) of the January 2012 Debentures were converted into 16,580 shares of common stock, leaving an aggregate principal balance of $162,668 at December 31, 2012. During 2013, four of the five holders of the outstanding January 2012 Debentures agreed to amend and restate the debentures to provide for automatic conversion into securities of the Company upon the earlier of either (a) the closing of the Financing and (b) July 1, 2016. The fifth holder of the January 2012 Debentures in the amount of $20,000 did not amend the debenture. The January 2012 Debentures contained a BCF of $40,889, which had been included in the balance sheet at December 31, 2013 as a discount to the related debt security, and was being accreted as non-cash interest expense over the expected term of the loan using the effective interest method. On February 19, 2014, the Company agreed with all five holders of the January 2012 Debentures, to convert such debentures into shares of the Company’s common stock at a conversion price of $0.40 per share, and to terminate the January 2012 Debentures upon conversion. Immediately prior to conversion, the January 2012 Debentures had an aggregate principal and interest amount of $190,013, which was converted into 475,032 shares of the Company’s common stock and terminated. The remaining discount of $37,195 related to the BCF was recorded as interest expense in 2014. January 2013 Convertible Debenture In January 2013, the Company issued a convertible debenture in the principal amount of $70,000 to a director of the Company (the “January 2013 Debenture”) with terms identical to those of the January 2012 Debentures. In 2013, the terms were amended to provide for automatic conversion into securities of the Company upon the earlier of either (a) the closing of the Financing and (b) July 1, 2016. The January 2013 Debenture contained a BCF of $18,651, which was included in the balance sheet at December 31, 2013 as a discount to the related debt security, and was accreted as non-cash interest expense over the expected term of the loan using the effective interest method. On February 19, 2014, the Company agreed with the holder of the January 2013 Debenture to convert such debenture on the same terms described above for the January 2012 Debentures. The principal and interest amount owed under the January 2013 Debenture immediately prior to conversion was $76,122, which was converted into 190,304 shares of the Company’s common stock and terminated. The remaining discount of $16,965 related to the BCF was recorded as interest expense in 2014. Line of Credit – Convertible Debenture In January 2013, the Company entered into the LOC Convertible Debenture with Dr. Damaj. Under the terms of its original issuance: (1) the Company could request to borrow up to a maximum principal amount of $250,000 from time to time; (2) amounts borrowed bore an annual interest rate of 8%; (3) the amounts borrowed plus accrued interest were payable in cash at the earlier of January 14, 2014 or when the Company completes a Financing; and (4) the holder had sole discretion to determine whether or not to make an advance upon the Company’s request. During 2013, the LOC Convertible Debenture was further amended to: (1) increase the maximum principal amount borrowable to $1 million plus any amounts of salary or related payments paid to Dr. Damaj prior to the termination of the funding commitment; and (2) change the holder’s funding commitment to automatically terminate on the earlier of either (a) when the Company completes a financing with minimum net proceeds of at least $4 million, or (b) July 1, 2016. The securities to be issued upon automatic conversion will be either the Company’s securities that are issued to the investors in a Qualified Financing or, if the financing does not occur by July 1, 2016, shares of the Company’s common stock based on a conversion price of $0.312 per share, 80% times the quoted market price of the Company's common stock on the date of the amendment. The LOC Convertible Debenture continues to bear interest at a rate of 8% per annum. The other material terms of the LOC Convertible Debenture were not changed. The Company recorded a debt discount for the intrinsic value of the BCF with an offsetting increase to paid-in-capital. The BCF is being accreted as non-cash interest expense over the expected term of the LOC debenture to its stated maturity date using the effective interest rate method. During 2013, the LOC Convertible Debenture was further amended to: (1) increase the maximum principal amount borrowable to $1 million, plus any amounts of salary or related payments paid to Dr. Damaj prior to the termination of the funding committment; and (2) change the holder’s funding commitment to automatically terminate on the earlier of either (a) when the Company completes a financing with minimum net proceeds of at least $4 million, or (b) July 1, 2016. The securities to be issued upon automatic conversion will be either the Company’s securities that are issued to the investors in a Qualified Financing or, if the financing does not occur by July 1, 2016, shares of the Company’s common stock based on a conversion price of $0.312 per share ( 80% times the quoted market price of the Company’s common stock on the date of the amendment). The LOC Convertible Debenture continues to bear interest at a rate of 8% per annum. The other material terms of the LOC Convertible Debenture were not changed. During 2013, the Company borrowed $448,4757 under the LOC Convertible Debenture. On February 19, 2014, the Company agreed with the holder of the LOC Convertible Debenture to convert the then outstanding principal and interest owed as of such date into shares of the Company’s common stock at a conversion price of $0.40 per share. The principal and interest amount owed under the LOC Convertible Debenture immediately prior to conversion was $476,165, which was converted into 1,190,411 shares of the Company’s common stock. The remaining debt discount of $89,452 related to the BCF for the converted portion was recorded as interest expense. On July 22, 2014, the Company agreed with the holder of the LOC Convertible Debenture to increase the principal amount that may be borrowed from up to $1,000,000 to up to $1,500,000. All other terms of the LOC Convertible Debenture remained the same. May 2013 Convertible Debt Instrument In May 2013, the Company issued convertible debt in the amount of $50,000, which, together with $1,458 of accrued interest, was converted in September 2013 into 83,103 shares of the Company’s common stock in accordance with the terms of the instrument, thereby fully extinguishing the debt. During the five months that the debt was outstanding, the Company accreted $8,017 of the debt discount as interest expense. 2014 Non-Convertible Notes-Related Party On January 29, 2014, the Company issued an 8% note in the amount of $25,000, to the Company’s President and Chief Executive Officer. The principal amount and interest are payable on January 22, 2015. The President and Chief Executive Officer has extended the maturity date of the note until December 31, 2015. On May 30, 2014, the Company issued an 8% debenture in the amount of $50,000, to a member of the Company's Board of Directors. The principal amount and interest are payable on May 30, 2015. On August 25, 2014, the Company issued an 8% debenture in the amount of $25,000, to a member of the Company's Board of Directors. The principal amount and interest are payable on August 25, 2015. On June 17, 2014, the Company issued an 8% debenture in the amount of $50,000, to the Company’s Chief Financial Officer. The principal and interest are payable on June 16, 2015. Interest Expense The Company recognized total interest expense on the on the outstanding debentures to related parties including amortization of the discount, of approximately $203,400 and $67,000 for the year ended December 31, 2014 and 2013, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	CEO Promissory Note On January 29, 2014, the Company issued an 8% note, in the amount of $25,000, to the Company’s President and Chief Executive Officer. The principal amount and interest are payable on January 22, 2015. This note has been amended to extend the maturity date until January 22, 2016 (See Note 8). Board Member Debenture On May 30, 2014, the Company issued an 8% debenture, in the amount of $50,000, to a member of the Company's Board of Directors. The principal amount and interest were payable on May 30, 2015 (See Note 8). On May 29, 2015 the repayment date was extended to May 30, 2016. On August 5, 2015 the debenture was converted into common shares (See Note 10). On August 25, 2014, the Company issued an 8% debenture, in the amount of $25,000, to a member of the Company's Board of Directors. The principal amount and interest were payable on August 25, 2015 (See Note 8). On August 5, 2015 the debenture was converted into common shares (See Note 10). Former CFO Debenture On June 17, 2014, the Company issued an 8% debenture, in the amount of $50,000, to the Company’s former Chief Financial Officer. The principal and interest were payable on June 16, 2015 (See Note 8) and were repaid on July 31, 2015. Convertible Debentures The Company had several convertible debentures, along with the LOC Convertible Debenture (See Note 8). January 2015 Non-Convertible Debenture - Former CFO On January 21, 2015, the Company entered into a securities purchase agreement with the Company’s former Chief Financial Officer whereby the Company issued and sold a promissory note in the principal face amount of $55,000 and warrants to purchase up to 250,000 shares of the Company’s common stock for gross proceeds of $50,000. This note was repaid on July 29, 2015 (See Note 8). Accrued Compensation-Related Party Accrued compensation includes accruals for employee wages and vacation pay. The components of accrued compensation are as follows: June 30, 2015 December 31, 2014 Wages $ 1,115,922 $ 791,987 Vacation 160,155 114,941 Total accrued compensation $ 1,276,077 $ 906,928 Accrued employee wages relate primarily to wages owed to the Company’s Chief Executive Officer and President. Under the terms of his employment agreement, wages are to be accrued but no payment made for so long as payment of such salary would jeopardize the Company’s ability to continue as a going concern. In July, 2015, the Company paid the entire accrued amount due, of approximately $72,000, to its former Chief Financial Officer.	The Company has several convertible and non-convertible debentures outstanding to related parties (see Note 5).

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Equity [Abstract]
SHAREHOLDERS' EQUITY	Capital Stock The Company is authorized to issue 150.0 million shares, all of which are common stock with a par value of $.001 per share. Issuances of Common Stock On January 17, 2013, the Company entered into an investor relations agreement with a third party pursuant to which the Company agreed to issue over the term of the agreement 250,000 shares of Company common stock in exchange for investor relations’ services to be rendered. On September 18, 2013, the Company extended the term of the agreement and agreed to issue an additional aggregate of 300,000 shares of common stock in exchange for services to be rendered. The term was further extended in April 2014 and the Company agreed to issue an additional 300,000 shares of common stock in exchange for services to be rendered over the term of the agreement. During the six months ended June 30, 2015 and 2014, the Company issued 175,000 and 300,000 shares of Company common stock and recognized $26,600 and $82,500 of investor relations expense, respectively, under this agreement. This agreement was terminated in June, 2015 On March 17, 2015, the Company entered into a consulting agreement for investor relations services. In consideration of such services, the Company issued 28,125 shares of Company common stock to the consultant on said date and valued them at $3,938 based on the closing price of the stock on the date of issuance. On August 27, 2014, the Company agreed to issue 200,000 shares of Company common stock pursuant to a consulting contract with a third party for marketing and public relations services. The Company issued 100,000 shares of stock pursuant to this agreement on September 2, 2014. The remaining 100,000 shares were issued on November 4, 2014. The Company extended the consulting contract in January of 2015 and agreed to issue an additional 200,000 shares. The issued shares have been valued at the closing price of the Company’s common stock on the date of issuance and are expensed over the period that the services are rendered. The Company recognized $19,000 and $0 during the six months ended June 30, 2015 and 2014, respectively, related to services provided. On March 12, 2015, the Company entered into an amendment agreement with the holder of the February 2014 Convertible Debenture. Pursuant to the Agreement, the maturity date of the Debenture was amended from March 13, 2015 to September 13, 2015. In connection with the execution of the Agreement, the Company issued 250,000 shares of the Company’s common stock (See Note 7). The September 2014 Convertible Debenture (See Note 7) was converted, according to the terms of the note, by the investor on March 30, 2015 and the Company issued 230,000 shares of its common stock pursuant to this conversion. On January 23, 2015, the Company entered into a settlement agreement with CRI whereby CRI returned 200,000 shares of Company stock. The share return was in consideration for the Company completing certain product development and regulatory efforts relating to the sale of the product in foreign territories (See Note 4). The Company issued an additional 137,500 and 85,000 shares of common stock and expensed $25,900 and $37,900 respectively, during the six months ended June 30, 2015 and 2014, to other consultants. The shares were issued under the Company’s 2013 Equity Incentive Plan (the “Incentive Plan”) or under the corresponding S-8 Plan, as filed with the Securities Exchange Commission. All issued shares have been valued at the closing price of the Company’s common stock on the date of issuance. 2013 Equity Plan The Company has issued share-based stock, stock unit and option awards to employees, non-executive directors and outside consultants under the Incentive Plan, which was approved by the Company’s Board of Directors in February of 2013. The Incentive Plan allows for the issuance of up to 10,000,000 shares of the Company’s common stock to be issued in the form of stock options, stock awards, stock unit awards, stock appreciation rights, performance shares and other share-based awards. The exercise price for all equity awards issued under the Incentive Plan is based on the fair market value of the common stock. Currently, because the Company’s common stock is quoted on the OTCQB, the fair market value of the common stock is equal to the last-sale price reported by the OTCQB as of the date of determination, or if there were no sales on such date, on the last date preceding such date on which a sale was reported. Generally, each vested stock unit entitles the recipient to receive one share of Company common stock which is eligible for settlement at the earliest of their termination, a change in control of the Company or a specified date. Stock units can vest according to a schedule or immediately upon award. Stock options generally vest over a three-year period, first year cliff vesting with quarterly vesting thereafter on the three-year awards, and have a ten-year life. Stock options outstanding are subject to time-based vesting as described above and thus are not performance-based. As of June 30, 2015, there 8,345,239 stock units and 134,000 shares subject to options outstanding, the Company issued 1,071,772 shares as payments for services, and 448,989 shares were available for future grants under the Incentive Plan. 2014 Equity Plan The Company has issued share-based stock, stock unit and option awards to employees, non-executive directors and outside consultants under the Incentive Plan, which was approved by the Company’s Board of Directors in November 2014. The Incentive Plan allows for the issuance of up to 20,000,000 shares of the Company’s common stock to be issued in the form of stock options, stock awards, stock unit awards, stock appreciation rights, performance shares and other share-based awards. The exercise price for all equity awards issued under the Incentive Plan is based on the fair market value of the common stock. Currently, because the Company’s common stock is quoted on the OTCQB, the fair market value of the common stock is equal to the last-sale price reported by the OTCQB as of the date of determination, or if there were no sales on such date, on the last date preceding such date on which a sale was reported. Generally, each vested stock unit entitles the recipient to receive one share of Company common stock which is eligible for settlement at the earliest of their termination, a change in control of the Company or a specified date. Stock units can vest according to a schedule or immediately upon award. Stock options generally vest over a three-year period, first year cliff vesting with quarterly vesting thereafter on the three-year awards and have a ten-year life. Stock options outstanding are subject to time-based vesting as described above and thus are not performance-based. As of June 30 2015, there were 10,390,000 stock units outstanding, the Company issued 10,390,000 shares to employees and consultants and 9,630,000 shares were available for future grants under the Incentive Plan. Stock-based Compensation The stock-based compensation expense for the three and six months ended June 30, 2015 was $121,554 and $751,710 for the issuance of stock units and stock options. The stock-based compensation expense for the three and six months ended June 30, 2014 was $361,938, and $926,164. The Company calculates the fair value of the stock units based upon the quoted market value of the common stock at the date of grant. The Company calculates the fair value of each stock option award on the date of grant using the Black-Scholes Option-Pricing Model. For the six months ended June 30, 2015, the following weighted average assumptions were utilized for the stock option granted during the period: Expected life (in years) 6.0 Expected volatility 219.31 % Average risk free interest rate 1.54 % Dividend yield 0 % The dividend yield of zero is based on the fact that the Company has never paid cash dividends and has no present intention to pay cash dividends. Expected volatility is based on the historical volatility of the Company’s common shares over the period commensurate with the expected life of the options. Expected life in years is based on the “simplified” method as permitted by ASC Topic 718. The Company believes that all stock options issued under its stock option plans meet the criteria of “plain vanilla” stock options. The Company uses a term of six years for all employee stock options. The risk free interest rate is based on average rates for five and seven year treasury notes as published by the Federal Reserve. The following table summarizes the number of options outstanding and the weighted average exercise price: Options Weighted average exercise price Weighted remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2014 113,000 $ 0.37 9.5 $ - Granted 21,000 $ 0.13 10.0 - Exercised - - - - Cancelled - - - - Forfeited - - - - Outstanding at June 30, 2015 134,000 $ 0.29 9.6 - Vested at June 30, 2015 134,000 $ 0.29 9.6 $ - The aggregate intrinsic value is calculated as the difference between the exercise price of all outstanding options and the quoted price of the Company’s common shares that were in the money at June 30, 2015. At June 30, 2015 and December 31, 2014, the aggregate intrinsic value of all outstanding options was $0. The Company granted 21,000 and 92,000 options during the six months ended June 30, 2015 and the year ended December 31, 2014, respectively. The weighted average grant date fair value per share of options granted during the six months ended June 30, 2015 and the year ended December 31, 2014 was $0.13 and $0.31, respectively. Stock Units The following table summarizes the number of stock units outstanding under both plans: Restricted Stock Units Outstanding at December 31, 2014 8,270,239 Granted 10,763,243 Exercised - Cancelled - Outstanding at June 30, 2015 19,033,482 Vested at June 30, 2015 12,758,910 The vested stock units at June 30, 2015 have not settled and are not showing as issued and outstanding shares of the Company. Settlement of these vested stock units will occur on the earliest of (i) the date of termination of service of the employee or consultant, (ii) change of control of the Company, or (iii) 10 years from date of issuance. Settlement of vested stock units may be made in the form of (i) cash, (ii) shares, or (iii) any combination of both, as determined by the board of directors. On February 15, 2013, the Company entered into a stock unit agreement with its President and Chief Executive Officer pursuant to his employment agreement. Under the terms of the agreement, the Company issued 6,000,000 stock units, 2,000,000 of the units vested immediately, while the remaining 4,000,000 vest in eight equal quarterly installments until January 1, 2015, subject to his continued service to the Company as of the vesting date. As of June 30, 2015, all of the stock units have vested under this agreement. There were 500,000 stock units which vested during the three and six months ended June 30, 2015 and the Company recognized expense of $210,000 which corresponds to the service period. On February 15, 2013, the Company entered into a stock unit agreement with a consultant. Under the terms of the agreement, the Company issued 300,000 stock units, with one thirty-sixth of the units vesting on the 7th day of each month beginning on March 7, 2013, subject to the consultant’s continued service to the Company as of the vesting date. At June 30, 2015, 224,993 shares have vested under this agreement. There were 41,667 stock units which vested during the six months ended June 30, 2015 and the Company expensed $11,667. In connection with the appointment of Ms. Dillen as Executive Vice President and Chief Financial Officer, the Company entered into an employment letter with her on February 6, 2014. Under the terms of the employment letter, Ms. Dillen received 600,000 stock units. 200,000 of the units vested after six months of employment, while the remaining 400,000 vest in eight equal quarterly installments until August 6, 2016, subject to her continued service to the Company as of the vesting date. Ms. Dillen is also eligible to receive a grant of 100,000 stock units when the Company’s shares of common stock are listed on Nasdaq, all subject to Ms. Dillen’s continued employment. As of June 30, 2015, 350,000 stock units have vested under this agreement. The Company recognized a total expense of $149,915 which corresponds to the service period. On February 6, 2014, the Company issued 852,273 stock units to the President and CEO in lieu of cash for the annual bonus. In May 2014, the Company issued an additional 75,000 restricted stock units to an employee, which vest according to the Company’s standard vesting plan. The Company recognized expense of $27,750 for the three and six months ended June 30, 2015 which corresponds to the service period. During the three and six months ended June 30, 2015, the Company issued 85,714 and 171,428 stock units to its Board of Directors, related to Board Compensation and recognized $12,000 and $24,000 of expense related to the stock units. On March 31, 2015, the Company issued 10,370,000 restricted stock units to employees, board members and consultants, which vest one-third on the issuance date and then monthly for the next 2 years. For the three and six months ended June 30, 2015, the Company recognized $120,983 and $604,916 of expense for the vested units. The Company recognized total compensation expense for the three and six months ended June 30, 2015 of $120,983 and $748,999 for the vested portion of the stock units related to employees. As of June 30, 2015, compensation expense related to unvested shares not yet recognized in the income statement was $649,476 and is expected to be recognized over an average remaining period of 2 years. Warrants On December 7, 2011, the Company entered into a promissory note with Dawson James Securities, Inc. (“DJS”) whereby, as compensation for consulting services rendered, the Company agreed to pay DJS a sum of $50,000 at a rate of 8.0% per annum. On January 28, 2013, the Company paid DJS $54,548, which represents the principal and accrued interest due on the note, discharging the note in full. The Company issued 380,973 warrants in connection with the Dawson James notes. The warrants have an exercise price of $0.10 and expire December 6, 2018. The Company issued 250,000 warrants in connection with the February 2014 Convertible Debentures. The warrants had an exercise price of $0.50 and expire February 13, 2019 (See Note 4). On March 6, 2015 the Company entered into an agreement with the note holder to extend the February 2014 Convertible Debentures for six months. As consideration for the extension, the Company granted the note holder an additional 250,000 warrants and reduced the exercise price of the warrants from $0.50 to $0.30 (See Note 7). The Company issued 750,000 warrants in connection with the January 2015 Non-Convertible Debentures. The warrants are exercisable for five years from the closing date at an exercise price of $0.30 per share of Common Stock. The warrants contain anti-dilution protection, including protection upon dilutive issuances (See Notes 7 and 8). At June 30, 2015, there are 1,630,973 fully vested warrants outstanding. Warrant Derivative Liability The Warrants issued in connection with the January 2015 Non-Convertible Debentures and the February 2014 Convertible Debenture are measured at fair value and classified as a liability because these warrants contain anti-dilution protection and therefore, cannot be considered indexed to the Company’s own stock which is a requirement for the scope exception as outlined under ASC 815. The estimated fair value of the warrants was determined using the Black-Scholes Option-Pricing Model, resulting in a value of $235,736, which was limited to the value of the debt of $150,000 in accordance with the relative fair value method, and $76,299 respectively, on the date they were issued. The fair value will be affected by changes in inputs to that model including our stock price, expected stock price volatility, the contractual term and the risk-free interest rate. The Company will continue to classify the fair value of the warrants as a liability until the warrants are exercised, expire or are amended in a way that would no longer require these warrants to be classified as a liability, whichever comes first. The anti-dilution protection for the warrants survives for the life of the warrants which ends in January 2020 and March 2020 (See Note 8). The assumptions for the Black-Scholes Option-Pricing Model are represented in the table below for the warrants issued with the January 2015 Non-Convertible Notes and the February 2014 Convertible Debenture, reflected on a per share common stock equivalent basis. June 30, 2015 Expected life (in years) 6.0 Expected volatility 100.00 Average risk free interest rate 1.54 % Dividend yield 0 % The following table presents the changes in fair value of our warrants measured at fair value on a recurring basis for each reporting period-end. June 30, 2015 Beginning Balance $ - Value of Derivative Liability with January 2015 Non-Convertible Debentures 149,998 Value of Derivative Liability with the February 2014 Convertible Debentures 76,299 Change in Fair Value (47,929 ) Ending Balance $ 178,368	Capital Stock The Company is authorized to issue 150.0 million shares, all of which are common stock with a par value of $.001 per share. Issuances of Common Stock During the years ended December 31, 2014 and 2013, the Company issued 1,195,000 and 450,000 shares, respectively, under the terms of the investor relations agreements. All issued shares have been valued at the closing price of the Company’s common stock on the dates of issuance. The Company recognized expense of $358,000 and $229,950 under the investor relations agreements during the years ended December 31, 2014 and 2013, respectively. Terms of the principal agreement are summarized as follows: On January 17, 2013, the Company entered into an investor relations agreement with a third party pursuant to which the Company agreed to issue over the term of the agreement an aggregate of 250,000 shares of common stock in exchange for investor relations’ services to be rendered. The Company extended the terms of the investor relations agreement in six month increments until December 31, 2014, and has agreed to issue an additional 690,000 shares related to the agreement extensions. On August 18, 2014, the Company entered into an additional investor relations agreement with a third party pursuant to which the Company agreed to issue over the term of the agreement an aggregate of 300,000 shares of common stock in exchange for investor relations services to be rendered. On August 27, 2014, the Company agreed to issue 200,000 shares of stock pursuant to a consulting contract with a third party for marketing and public relations services. The Company issued 100,000 shares of stock pursuant to this agreement on September 2, 2014. The remaining 100,000 shares were issued on November 4, 2014. The issued shares have been valued at the closing price of the Company’s common stock on the date of issuance. On June 28, 2013, the Company entered into an agreement with a consultant to provide drug development pre-clinical consulting services for Sensum+™ and EjectDelay®. In consideration of such services, the Company issued 236,548 shares in 2013 and 126,296 shares in 2014 to the consultant, which were valued at the closing price of the Company’s common stock on the date of issuance. The aggregate value of the shares issued was $55,521 and $92,865 in 2014 and 2013, respectively, which corresponds to the service period of the consultant’s services. As of December 31, 2014, the studies have completed and the consulting services have terminated. On February 19, 2014, the Company agreed with the holders of the January 2012 Debentures, January 2013 Debenture, and the LOC Convertible Debenture to convert such debentures into shares of the Company’s common stock at a conversion price of $0.40 per share. The conversion would terminate the January 2012 Debentures and the January 2013 Debenture. The conversion of the LOC Convertible Debenture, would convert the then outstanding principal and interest owed as of such date. The Company issued a total of 1,855,747 shares of the Company’s common stock that had a value prior to the conversion of $742,299. On September 15, 2014, the Company entered into a debt exchange agreement with the Investor, pursuant to which the Company agreed to issue 1,900,000 shares of the Company’s common stock of $779,000 based on the value at issuance, in exchange for the retirement of the December 2013 Debenture. The holder of the December 2013 Debenture sold it to the Investor prior to the debt exchange agreement. The Company issued an additional 343,907 and 331,094 shares of common stock to other consultants under consulting agreements during the years ended December 31, 2014 and 2013, respectively. The shares were issued under the Company’s 2013 Equity Incentive Plan (the “Incentive Plan”). All issued shares have been valued at the closing price of the Company’s common stock on the date of issuance. The aggregate value of the shares issued was $101,300 and $125,580 for the years ended December 31, 2014 and 2013, respectively. Equity Plans The Company has issued share-based stock, stock unit and option awards to employees, non-executive directors and outside consultants under the Incentive Plan, which was approved by the Board in February of 2013. The Incentive Plan allows for the issuance of 10,000,000 shares of the Company’s common stock to be issued in the form of stock options, stock awards, stock unit awards, stock appreciation rights, performance shares and other share-based awards. The exercise price for all equity awards issued under the Incentive Plan is based on the fair market value of the common stock. Currently, because the Company’s common stock is quoted on the OTC Markets, the fair market value of the common stock is equal to the last-sale price reported by the OTC Markets as of the date of determination, or if there were no sales on such date, on the last date preceding such date on which a sale was reported. Generally, each vested stock unit entitles the recipient to receive one share of Company common stock which is eligible for settlement at the earliest of their termination, a change in control of the Company or a specified date. Stock units can vest according to a schedule or immediately upon award. Stock options generally vest over a three-year period, first year cliff vesting with quarterly vesting thereafter on the three-year awards, and have a ten-year life. Stock options outstanding are subject to time-based vesting as described above and thus are not performance-based. As of December 31, 2014, there were 8,270,239 stock units and 113,000 shares subject to options outstanding, the Company issued 937,844 shares as payments for services, and 678,917 shares were available for future grants under the Incentive Plan. As of December 31, 2014, there were no shares issued or outstanding under the Company’s 2014 Equity Incentive Plan. Stock-based Compensation The stock-based compensation expense for the year ended December 31, 2014 and 2013 was $1,509,005 and $2,254,898, respectively, for the issuance of stock units and stock options. The Company calculates the fair value of the stock units based upon the quoted market value of the common stock at the date of grant. The Company calculates the fair value of each stock option award on the date of grant using the Black-Scholes option-pricing model. For the year ended December 31, 2014 the following weighted average assumptions were utilized for the stock options granted during the period: December 31, 2014 December 31, 2013 Expected life (in years) 6 6 Expected volatility 224.42% - 236.78 % 235.7% - 240.6 % Average risk free interest rate 1.69% - 2.02 % 1.71% - 2.10 % Dividend yield 0 % 0 % The dividend yield of zero is based on the fact that the Company has never paid cash dividends and has no present intention to pay cash dividends. Expected volatility is based on the historical volatility of the Company’s common shares over the period since the Company commenced its current line of business. Expected life in years is based on the “simplified” method as permitted by ASC Topic 718. The Company believes that all stock options issued under its stock option plans meet the criteria of “plain vanilla” stock options. The Company uses a term of six years for all employee stock options. The risk free interest rate is based on average rates for five and seven year treasury notes as published by the Federal Reserve. The following table summarizes the number of options outstanding and the weighted average exercise price: Options Weighted average exercise price Weighted remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2012 - $ - - $ - Granted 51,000 0.46 9.8 1,200 Exercised - - - - Cancelled - - - - Forfeited (30,000 ) - - - Outstanding at December 31, 2013 21,000 $ 0.64 9.9 $ - Vested at December 31, 2013 21,000 $ 0.64 9.9 $ - Granted 92,000 0.31 9.6 - Exercised - - - - Cancelled - - - - Forfeited - - - - Outstanding at December 31, 2014 113,000 $ 0.37 9.5 $ - Vested at December 31, 2014 113,000 $ 0.37 9.5 $ - The aggregate intrinsic value is calculated as the difference between the exercise price of all outstanding options and the quoted price of the Company’s common shares that were in the money at December 31, 2014. At December 31, 2014 and 2013, the aggregate intrinsic value of all outstanding options was $0. Stock Units The following table summarizes the number of stock units outstanding: Stock Units Outstanding at December 31, 2012 - Granted 7,061,250 Expired - Cancelled (750,000 ) Forfeited - Outstanding at December 31, 2013 6,311,250 Vested at December 31, 2013 4,083,333 Granted 1,958,989 Expired - Cancelled - Forfeited - Outstanding at December 31, 2014 8,270,239 Vested at December 31, 2014 7,228,565 The vested stock units at December 31, 2014 have not settled and are not showing as issued and outstanding shares of the Company. Settlement of these vested stock units will occur on the earliest of (i) the date of termination of service of the employee or consultant, (ii) change of control of the Company, or (iii) 10 years from date of issuance. Settlement of vested stock units may be made in the form of (i) cash, (ii) shares, or (iii) any combination of both, as determined by the committee. On February 15, 2013, the Company entered into a stock unit agreement with its President and Chief Executive Officer pursuant to his employment agreement. Under the terms of the agreement, the Company issued to him 6,000,000 stock units, of which 2,000,000 of the units vested immediately, while the remaining 4,000,000 vested in eight equal quarterly installments until January 1, 2015, subject to his continued service to the Company as of the vesting date. As of December 31, 2014, 5,500,000 stock units have vested under this agreement. The Company recognized a total expense of $1,023,000 in 2014 and $1,116,000 in 2013, which corresponds to the service period. On February 15, 2013, the Company entered into a stock unit agreement with a consultant. Under the terms of the agreement, the Company issued 300,000 stock units, with one thirty-sixth of the units vesting on the 7 th of each month beginning on March 7, 2013, subject to the consultant’s continued service to the Company as of the vesting date. At December 31, 2014, 183,326 shares have vested under this agreement. The Company recognized a total expense of $35,333 in 2014 and $35,708 in 2013, which corresponds to the service period. In connection with the appointment of Ms. Dillen as Executive Vice President, and Chief Financial Officer, the Company entered into an employment letter with her on February 6, 2014. Under the terms of the employment letter, Ms. Dillen received 600,000 stock units. 200,000 of the units vested after six months of employment, while the remaining 400,000 will vest in eight equal quarterly installments until August 6, 2016, subject to her continued service to the Company as of the vesting date. Ms. Dillen is also eligible to receive a grant of 100,000 stock units when the Company’s shares of common stock are listed on The NASDAQ Stock Market, all subject to Ms. Dillen’s continued employment. As of December 31, 2014, 250,000 stock units have vested under this agreement. The Company recognized a total expense of $92,544 in 2014 which corresponds to the service period. On February 6, 2014, the Company issued 852,273 stock units to the President and CEO in lieu of cash for the annual bonus which vested upon issuance. The Company recognized a total expense of $281,250 related to these stock units. In May 2014, the Company issued 75,000 restricted stock units to an employee, which vest according to the Company’s standard vesting plan. As of December 31, 2014, the Company recognized expense of $6,352 which corresponds to the service period. During the year ended December 31, 2014, the Company issued an aggregate of 136,144 stock units to its Board of Directors, and recognized $48,000 of expense related to the stock units. The Company recognized compensation expense for the year ended December 31, 2014 of $1,496,146 for the vested portion of the stock units related to employees. As of December 31, 2014, compensation expense related to unvested shares not yet recognized in the income statement was $405,854 and is expected to be recognized over an average period of 1.4 years. Warrants On December 7, 2011, the Company entered into a promissory note with Dawson James Securities, Inc. (“DJS”) whereby, as compensation for consulting services rendered, the Company issued DJS a note in the principal amount of $50,000 which accrued interest at a rate of 8.0% per annum. On January 28, 2013, the Company paid DJS $54,548, which represents the principal and accrued interest due on the note, discharging the note in full. The Company issued warrants to purchase 380,973 shares of common stock in connection with the Dawson James note. The warrants have an exercise price of $0.10 and expire December 6, 2018. The Company issued 250,000 warrants in connection with the February 2014 Convertible Debentures. The warrants had an exercise price of $0.50 and expire February 13, 2019 (See Note 4). At December 31, 2014, there are 630,973 fully vested warrants outstanding. On March 6, 2015 the Company entered into an agreement with the note holder to extend the February 2014 Convertible Debentures for six months. As consideration for the extension, the Company granted the note holder an additional 250,000 warrants and reduced the exercise price of the warrants from $0.50 to $0.30. This consideration will result in an inducement charge to interest expense for the fair value of the concessions agreed.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes	At December 31, 2014, the Company had federal net operating loss carry forwards of approximately $5,698,000 which may be offset against future taxable income through 2032, and a California net operating loss carryforward of approximately $4,803,000. No net deferred tax assets are recorded at December 31, 2014 or 2013, as all deferred tax assets have been fully offset by a valuation allowance due to the uncertainty of future utilization. 2014 2013 Net operating loss carry-forwards $ 2,218,000 $ 1,165,000 Equity based instruments 1,515,000 877,000 Deferred compensation 361,000 155,000 Intangibles 173,000 70,000 Warrants 759,000 745,000 Other 46,000 80,000 Less: Valuation allowance (5,072,000 ) (3,092,000 ) Net deferred tax assets - - At December 31, 2014 and 2013, the Company has recorded a full valuation allowance against its net deferred assets of approximately $5,072,000 and $3,092,000 respectively. The change in the valuation allowance during the year ended 2014 was approximately $1,980,000 and a full valuation allowance has been recorded since, in the judgement of management, these assets are not more likely than not to be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences and carryforwards become deductible or are utilized. Pursuant to Section 382 of the Internal Revenue Code of 1986, the annual utilization of a company's net operating loss carryforwards could be limited if the Company experiences a change in ownership of more than 50 percentage points within a three-year period. An ownership change occurs with respect to a corporation if it is a loss corporation on a testing date and, immediately after the close of the testing date, the percentage of stock of the corporation owned by one or more five-percent shareholders has increased by more than 50 percentage points over the lowest percentage of stock of such corporation owned by such shareholders at any time during the testing period. The Company does not believe such an ownership change occurred subsequent to the reverse merger transaction, but has not yet evaluated the impact of the Novalere acquisition in 2015. The Company has experienced an ownership change with regard to Semprae operating losses. Out of $19,482,000 of Federal and California NOLs as of December 24, 2013, only $44,000 per year can be used going forward for a total of $888,000 each. A reconciliation of the statutory federal income tax rate for the year ended December 31, 2014 and 2013 to the effective tax rate is as follows: 2014 2013 Expected federal tax 34.00 % 34.00 % State tax (net of federal benefit) 6.13 % 5.80 % Other 0.89 % (0.10 )% Valuation allowance (41.02 )% (39.70 )% Total - % - % The Company follows FASB ASC 740-10, Uncertainty in Income Taxes

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	In addition to the milestone and royalty payment commitments under The CRI Asset Purchase Agreement, discussed in Note 2 and the annual royalty payments in connection with the Semprae acquisition discussed in Note 3 we have the following additional commitments and contingencies. Employment Agreements On January 22, 2013, the Company entered into an employment agreement (the “Damaj Employment Agreement”) with Dr. Damaj to serve as its President and Chief Executive Officer, which was amended on January 21, 2015. On January 21, 2015, the Company and Lynnette Dillen (“Dillen” and together with Damaj, the “Executives”) entered into an employment agreement (the “Dillen Employment Agreement” and together with the Damaj Employment Agreement, the “Employment Agreements”) to continue to serve as the Company’s Executive Vice President and Chief Financial Officer. The Damaj Employment Agreement has an initial term of five years, which term will be extended by an additional year on the fourth and each subsequent anniversary. Dr. Damaj earned a base salary of $375,000 for the first year, increasing to $440,000 in the second year and increasing a minimum of 10% per year thereafter. Dr. Damaj’s salary will be accrued and not paid for so long as payment of such salary would jeopardize the Company’s ability to continue as a going concern, in Dr. Damaj’s sole determination. The Dillen Employment Agreement has an initial term of five years, which term will be extended by an additional year on the fourth and each subsequent anniversary of Dillen’s start date of February 6, 2014 (the “Start Date”). Dillen receives a base salary of $250,000 per annum (which was increased from $200,000 per annum for the first six months from the Start Date). Pursuant to the Employment Agreements, Damaj and Dillen will have annual cash bonus targets equal to 75% and 30%, respectively, of base salary, based on performance objectives established by the board of directors, with the board of directors determining the amount of the annual bonus. In addition, Dillen will receive a bonus of $100,000 upon our successful listing on The NASDAQ Stock Market, and subject to board of directors approval, a restricted-stock unit grant of 100,000 shares of common stock. Further, upon us completing of raising $4 million in financing, Dillen will receive a bonus of $100,000. Upon termination of the Employment Agreements for any reason, the Executives will receive (i) a pro-rata bonus during that fiscal year based on the number of days employed during that fiscal year and (ii) Company group medical, dental and vision insurance coverage for such Executive and their dependents for 12 months (six months for Dillen) paid by the Company. Upon separation, the Executives are also entitled to certain severance benefits. Operating Leases We have an operating lease for our corporate office facility located in San Diego, California for approximately $7,270 per month through January 15, 2016. Litigation The Company is party to certain legal actions arising out of the normal course of its business. In our opinion, none of these actions will have a material effect on the Company’s operations, financial condition, or liquidity.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Exclusive License Agreement On July 4, 2015, the Company announced that it had entered into an exclusive license agreement with Elis Pharmaceuticals, an emirates company (“Elis”), under which Innovus Pharma granted to Elis an exclusive license to market and sell to market and sell Innovus Pharma’s topical product Zestra® for female sexual dysfunction, treatment for premature ejaculation EjectDelay®, its product Sensum+® to increase penile sensitivity, Vesele® to increase sexual and cognitive health and Zestra Glide®, its high viscosity water-based lubricant in Turkey and select African and gulf countries. Under the agreement, Innovus Pharma is eligible to receive up to $35.5 million dollars in sales milestone payments plus an agreed-upon transfer price. Note Repayment and Extension Agreement On January 21, 2015, Innovus Pharmaceuticals, Inc. (the “Company”) entered into securities purchase agreements (the “Vista Securities Purchase Agreements”) with Vista Capital Investments, LLC (“Vista”) (the “Investors”) whereby the Company issued and sold to the Investors promissory notes (the “Vista Notes”) in the aggregate principal face amount of $110,000 and warrants (the “Vista Warrants”) to purchase up to 500,000 shares of the Company’s Common Stock (defined below) for gross proceeds of $100,000; as more fully described in the 8-K previously filed by the Company on January 23, 2015. On July 30, 2015, the Company and Vista entered into an “Amendment to the $110,000 Promissory Note dated January 21, 2015” (the “Vista Note Amendment”) and amended the Vista Note to reflect the following new due dates: - $50,000 shall be paid by Company to Holder on July 31, 2015 (which amount has been paid) - $22,933 shall be paid by Company to Holder on September 1, 2015 - $22,933 shall be paid by Company to Holder on October 1, 2015 - $22,933 shall be paid by Company to Holder on November 1, 2015. In consideration for the Vista Note Amendment, the Company issued 100,000 restricted shares of Common Stock to Vista. Securities Purchase Agreement On July 15, 2015, and July 28, 2015, Innovus Pharmaceuticals Inc. (the “Company”), entered into Securities Purchase Agreements with one (1) accredited investor (the “Buyer”), pursuant to which the Company has received aggregate gross proceeds up to $500,000.00 (the “Offering”) pursuant to which it sold: (i) Notes. The Company may prepay the Notes at any time on the terms set forth in the Notes at the rate of 115% of the then outstanding balance of the Notes. Under the terms of the Notes, the Company shall not effect certain corporate and business actions during the term of the Notes, although some may be done with proper notice. Pursuant to the Purchase Agreement, with certain exceptions, the Note holder has a right of participation during the term of the Notes; additionally, the Company granted the Note holder piggy-back registration rights for the shares of Common Stock underlying the Notes. (ii) Issuance Shares. (iii) Warrant. (iv) Registration Rights. (v) Share Issuance Agreement Share Issuance Agreement The shares of Common Stock, including the shares underlying the Notes, issued in the Offering were not registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state, and were offered and sold in reliance on the exemption from registration afforded by Section 4(a)(2) and Regulation D (Rule 506(b)) under the Securities Act and corresponding provisions of state securities laws, which exempt transactions by an issuer not involving any public offering. The Buyer is an “accredited investor” as such term is defined in Regulation D promulgated under the Securities Act. The Company agreed to use the net proceeds from the Offering for general working capital purposes. The Buyer agreed to allow the Company to raise a total of $1,500,000.00 on the same terms and conditions as the Offering. Pursuant to the Purchase Agreement, the Company agreed to pay Garden State Securities, Inc., who acted as a placement agent for the Offering, a cash fee of 10% of the gross proceeds from the Offering and issue it that number of shares of common stock equal to 8% of the number of shares that the Notes are convertible into at the Conversion Price on an as converted basis. The Purchase Agreement contains representations and warranties by the Company and the investors which are customary for transactions of this type such as, with respect to the Company: organization, good standing and qualification to do business; capitalization; subsidiaries, authorization and enforceability of the transaction and transaction documents; valid issuance of stock, consents being obtained or not required to consummate the transaction; litigation; compliance with securities laws; and no brokers used; and with respect to the investors: authorization, accredited investor status and investment intent. Amendment to Debt Agreements On May 30, 2014, the Company issued an 8% debenture, in the amount of $50,000, to a member of the Company's Board of Directors. The principal amount and interest were payable on May 30, 2015 (See Note 8). On May 29, 2015 the repayment date was extended to May 30, 2016. On August 5, 2015 the debenture was converted into common shares. On August 25, 2014, the Company issued an 8% debenture, in the amount of $25,000, to a member of the Company's Board of Directors. The principal amount and interest were payable on August 25, 2015 (See Note 8). On August 5, 2015 the debenture was converted into common shares. On July 22, 2014, the Company agreed with the holder of the LOC Convertible Debenture to increase the principal amount that may be borrowed from up to $1,000,000 to up to $1,500,000. On August 12, 2015, the principal amount that may be borrowed was increased to $2,000,000 and the automatic termination date described above was extended to October 1, 2016. On August 30, 2014, the Company issued an 8% debenture to an unrelated third party investor in the principal amount of $40,000 (the “August 2014 Debenture”). The August 2014 Debenture bears interest at the rate of 8% per annum. The principal amount and interest were payable on August 29, 2015. On July 21, 2015, the Company received an additional $30,000 from the investor and amended and restated this agreement to a new principle balance of $73,200 (including accrued interest) and a new maturity date of July 21, 2016.	January 2015 Debentures On January 21, 2015 the Company entered into securities purchase agreements with an unrelated third party and Lynnette Dillen, the Company’s Chief Financial Officer and together with the unrelated third party, the (“ Investors ”) whereby the Company issued and sold to the Investors promissory notes (the “ Notes ”) in the aggregate principal face amount of $165,000 and warrants to purchase up to 750,000 shares of the Company’s common stock for gross proceeds of $150,000. The Notes are due on July 31, 2015 and accrued a one-time interest charge of 8% on the date of issuance. The warrants, as amended, are exercisable for five years from the Closing Date at an exercise price of $0.30 per share of common stock. Acquisition of Novalere On February 4, 2015, the Company, Merger Subsidiary I, Merger Subsidiary II), Novalere and Novalere Holdings entered into the Merger Agreement, pursuant to which the Merger occurred and subsequently closed February 5, 2015, with Merger Subsidiary II surviving as a wholly-owned subsidiary of Innovus. Pursuant to the articles of merger effectuating the Merger, Merger Subsidiary changed its name to Novalere, Inc. With the Merger, Innovus acquired the worldwide rights to the Fluticare™ brand (Fluticasone propionate nasal spray) from Novalere. Innovus expects that the Abbreviated New Drug Application (“ANDA”) filed in November 2014 with the U.S. Food and Drug Administration may be approved by the end of 2015 or in the first half of 2016. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. As a result of the Merger, the shareholders have the right to receive an aggregate of 25,895,312 shares of Innovus common stock, which represented 49% of the total shares of Innovus issued and outstanding upon completion of the Merger. Under the terms of the Merger Agreement, at closing, the Novalere Stockholders received 50% of the Consideration Shares and the remaining 50% of the Consideration Shares (the “ANDA Consideration Shares ”) (12,947,656 shares of common stock) will be delivered only if an Abbreviated New Drug Application of Fluticasone Propionate Nasal Spray of Novalere Manufacturing Partners is approved by the Food and Drug Administration (the “ ANDA Approval”). 10% of the Closing Consideration Shares, and if ANDA Approval is obtained prior to the 18 month anniversary of the Closing Date, 30% of the ANDA Consideration Shares, will be held in escrow for a period of 18 months from the Closing Date to be applied towards any indemnification claims by Innovus pursuant to the Merger Agreement. In addition, the Novalere Stockholders are entitled to receive, if and when earned, earn-out payments. For every $5 million in Net Revenue (as defined in the Merger Agreement) by the Target Product, the Novalere Stockholders will be entitled to receive, on a pro rata basis, $500,000, subject to cumulative maximum Earn-Out Payments of $2.5 million. Restricted Stock Grant During March 2015, the Company entered into stock unit agreements with its employees, board of directors and certain key consultants. Under the terms of the agreements, the Company issued 10,370,000 stock units, of which 3,456,666 of the units vested immediately, while the remaining 6,913,333 will vest in eight equal quarterly installments until March 2016, subject to the continued service to the Company as of the vesting date. The Company will recognize compensation expense and other expense as appropriate in the first quarter corresponding to the appropriate service period.

ORGANIZATION AND SUMMARY OF S20

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization		Innovus Pharmaceuticals, Inc., together with its subsidiaries (collectively referred to as “Innovus” or the “Company”) is San Diego, California based commercial-stage pharmaceuticals company that delivers safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality. The Company is engaged in the commercialization, licensing, and development of non-prescription pharmaceutical products and consumer care health products backed with strong scientific and clinical evidence. The Company became a public company through a reverse merger in 2010, and commenced commercial operations with its current business plan in 2013. Accquisition of Semprae Laboratories, Inc. On December 24, 2013, Innovus entered into an agreement and plan of merger (the “Merger Agreement”) with Innovus Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Innovus (“Merger Sub”), Semprae Laboratories, Inc., a Delaware corporation (“Semprae”), certain stockholders of Semprae and Quaker Bioventures II, L.P., a principal stockholder of Semprae, pursuant to which, on the same date, Merger Sub merged into Semprae with Semprae continuing as the surviving corporation and a wholly-owned subsidiary of Innovus . Acquisition of Novalere FP, Inc. On February 4, 2015, the Company, Innovus Pharma Acquisition Corporation, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary I”), Innovus Pharma Acquisition Corporation II, a Delaware corporation and a wholly-owned subsidiary of Innovus (“Merger Subsidiary II”), Novalere FP, Inc., a Delaware corporation (“Novalere”), and Novalere Holdings, LLC, a Delaware limited liability company (“Novalere Holdings”), as representative of the shareholders of Novalere (the “Novalere Stockholders”), entered into and closed upon an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Subsidiary I merged into Novalere and then Novalere merged with and into Merger Subsidiary II (the “Merger”), with Merger Subsidiary II surviving as a wholly-owned subsidiary of Innovus. Pursuant to the articles of merger effectuating the Merger, Merger Subsidiary changed its name to Novalere, Inc. With the Merger, Innovus acquired the worldwide rights to the Fluticare™ brand (Fluticasone propionate nasal spray) from Novalere. Innovus expects that the Abbreviated New Drug Application (“ANDA”) filed in November 2014 with the U.S. Food and Drug Administration may be approved by the end of 2015 or in the first half of 2016. An ANDA is an application for a U.S. generic drug approval for an existing licensed medication or approved drug. (See Note 9)
Basis Of Presentation And Principles Of Consolidation	These unaudited condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include all assets, liabilities, revenues and expenses of the Company and its wholly owned subsidiaries: FasTrack Pharmaceuticals, Inc., Semprae Laboratories, Inc. (“Semprae”) and Novalere, Inc. (“Novalere”). All material intercompany transactions and balances have been eliminated. These interim unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Certain information required by U.S. GAAP has been condensed or omitted in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The results for the periods ended June 30, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2015 or for any future period.	These condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), and include all assets, liabilities, revenues and expenses of the Company and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated. Certain items have been reclassified to conform to the current presentation.
Use of Estimates	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 and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, revenue recognition, sales adjustments, fair value of the derivative liability and intangible assets. The Company bases its estimates on historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions.	The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, realizability of deferred tax assets and intangible assets, contingent consideration and allowance for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions.
Liquidity		The Company’s operations have been financed primarily through advances from officers, directors and related parties, outside capital, and from revenues generated from the recent launch of its products and commercial partnerships signed for the sale and distribution of its products in 28 countries. These funds have provided the Company with the resources to operate its business, to sell and support its products, attract and retain key personnel, and add new products to its portfolio. To date, the Company has experienced net losses and negative cash flows from operations each year since its inception. As of December 31, 2014, the Company had an accumulated deficit of $11,231,967. The Company has raised funds through the issuance of debt and the sale of common stock. For the year ended December 31, 2014 the Company raised $1.0 million in funds, which included $0.4 million from the issuance of convertible debentures to unrelated third parties in February 2014 and September 2014, $0.2 million in proceeds from the issuance of additional non-convertible debt instruments, as well as $0.4 million in proceeds from borrowings under a Convertible Debenture Line of Credit (“LOC Convertible Debenture”) that the Company entered into with its President and Chief Executive Officer. The LOC Convertible Debenture provides the Company with a line of credit in the amount of up to $1.5 million through the earlier of its successful completion of a financing of $4 million, or July 2016. At December 31, 2014, the Company had approximately $1.1 million available for use. Dr. Damaj has agreed not to require the Company to repay the borrowing under the LOC or accrued salary prior to April 2016. The Company has also issued equity instruments where possible to pay for services from vendors and consultants. As of December 31, 2014, the Company had $7,479 in cash and cash equivalents, $1.1 million in cash available for use under the LOC Convertible Debenture, and $0.2 million in accounts receivable. During the year ended December 31, 2014, the Company recognized $1.0 million in revenues, which included $0.3 million in upfront license fees from its partners for its commercial products and $0.7 million from sales of its commercially available products. The Company expects that its existing capital resources, revenues from sales of its products, upcoming sales milestone payments from the commercial partners signed for its products, along with the $1.1 million in funds currently available for use under the LOC Convertible Debenture will be sufficient to allow the Company to continue its operations, commence the product development process, and launch selected products through at least April 1, 2016. However, the Company’s actual needs will depend on numerous factors, including timing of introducing its products to the marketplace, its ability to attract additional ex-U.S. distributors for its products and its ability to in-license in non-partnered territories and/or develop new product candidates. Other potential sources of liquidity in the short term include payments from the Company’s existing partners for license fees, entering into new collaborative, licensing or commercial agreements in additional territories, and revenues from the sale of its products. In addition to payments from the Company’s current licensing and commercial agreements, as well as funds from public and private financial markets, potential sources of liquidity in the long term include milestone, royalty and other payments from any future commercial agreements or licensees and revenues from sales of its own products. If the Company determine it is advisable to raise additional funds, the Company does not know whether adequate funding will be available to it on acceptable terms, if at all.
Fair Value Measurement	The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities and debt. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: ● Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ● Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. ● Level 3 measurements are unobservable inputs.	The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities, convertible debentures and a convertible debt instrument. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. We remeasure the fair value of the contingent consideration arising from acquisitions each reporting period based upon amounts expected to be paid out under the terms of such agreements. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: · Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. · Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. · Level 3 measurements are unobservable inputs.
Cash and Cash Equivalents		Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of three months or less when purchased.
Concentration of Credit Risk and Major Customers	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and trade accounts receivable. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation on such deposits. Accounts receivable consist primarily of amounts receivable from Sothema Laboratories under the Company's licensing agreements and from sales of Zestra®. The Company also requires a percentage of payment in advance for product orders with its larger partners. The Company performs ongoing credit evaluations of its customers and generally does not require collateral. As of June 30, 2015 and December 31, 2014, the Company had $37,885 and $191,601, respectively, in accounts receivable, presented net of estimated returns and allowances. The Company had three major customers that accounted for 18.3%, 13.1% and 11.1%, respectively, of net sales during the six months ended June 30, 2015. These same customers accounted for 25.1%, 0.0% and 10.4%, respectively, of gross accounts receivable as of June 30, 2015. These customers accounted for 31.4%, 0.0% and 0.0%, respectively, of net sales during the six months ended June 30, 2014 and another customer accounted for 9.9%.	primarily of cash, trade accounts receivable, and revenue. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation (“FDIC”) on such deposits. Accounts receivable consist primarily of amounts receivable under our licensing agreements and product sale agreements. (See Note 4). In some cases, the Company also requires a percentage of payment in advance for product orders with its larger partners. The Company has not yet recognized revenue under these arrangements. The Company also performs ongoing credit evaluations of its customers and generally does not require collateral. There have been no write-offs of trade accounts receivable during the periods presented. The following table identifies customers with accounts receivable that individually exceed 10% of the Company’s total accounts receivable for December 31, 2014 and 2013: 2014 2013 Ovation Pharma 85,000 44 % 135,035 52 % Sothema Laboratories 52,187 27 % - - Wal-Mart 20,580 11 % 37,963 15 % Revenues consist primarily of product sales and licensing rights to market and commercialize our products. The following table identifies customers with revenues that individually exceed 10% of the Company’s total revenues for the year ended December 31, 2014: Sothema Laboratories 245,380 23 % Ovation Pharma 175,000 17 % Wal-Mart 171,600 16 %
Concentration of Suppliers	The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+®, EjectDelay®, Vesele®, Androferti® and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers.	The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+™, EjectDelay®, Vesele®, and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers.
Business Combinations		For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. The Company recognizes separately from goodwill the fair value of assets acquired and the liabilities assumed. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the acquisition date fair values of the assets acquired and liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company's estimates are subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may retroactively record adjustments to the fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company's consolidated statements of operations.
Inventory	Inventory is valued at the lower of cost or market using the first-in, first-out method. Inventory is shown net of obsolescence, determined based on shelf life or potential product replacement. Inventory consists of the following at June 30, 2015: Raw materials $ 94,566 Work in process 24,122 Finished goods 172,401 Total $ 291,089	Inventory, consisting primarily of raw materials and finished goods, is valued at the lower of cost or market where cost is determined using the first-in, first-out method. Inventory is shown net of obsolescence and allowance for reducing the inventory cost to market. Obsolescence of inventory is determined based on shelf life or potential product replacement. The following table identifies inventory by category at December 31, 2014: Amount 2014 2013 Raw materials $ 90,934 $ 123,379 Finished goods 84,249 63,948 Packaging supplies 100,252 - Inventory reserve (9,476 ) (9,476 ) Total at December 31, 2014 265,959 177,851
Property, Plant and Equipment	Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets which range from three to five years. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use.	Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over their estimated useful lives. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use.
Intangible Assets	Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range from 7 to 15 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Amortizable intangible assets consist of the following: June 30, 2015 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 417,598 $ 39,158 $ 378,439 7 - 15 Customer Contracts 611,119 92,818 518,301 10 Sensum+® License 234,545 38,227 196,318 10 Vesele® trademark 25,287 2,304 22,983 10 Novalere Mfg Contract 4,681,000 184,975 4,496,026 10 Total $ 5,969,549 $ 357,482 $ 5,612,067 December 31, 2014 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 264,321 $ 23,671 $ 240,650 7 - 15 Customer Contracts 611,119 62,262 548,857 10 Sensum+® license 272,545 31,250 241,295 10 Vesele® trademark 25,287 717 24,570 10 Total $ 1,173,272 $ 117,900 $ 1,055,372 Expected amortization at June 30, 2015 is approximately $589,000 for each of the next five years and $2,667,000 thereafter.	Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range in term from 7 to 14 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Intangible assets consist of the following at December 31, 2014: Accumulated Useful Lives Amount Amortization Net Amount (years) Patents and trademarks $ 264,321 $ (23,671 ) $ 240,650 7 - 14 Customer contracts 611,119 (62,262 ) 548,857 10 Sensum+™ (formally called CIRCUMserum™) license 272,545 (31,250 ) 241,295 10 Vesele 25,287 (717 ) 24,570 8 Outstanding at December 31, 2014 1,173,272 (117,900 ) 1,055,372 Expected amortization is approximately $115,000 for each of the next five years, and $481,000 thereafter.
Goodwil	The Novalere purchase price allocation was based upon an analysis of the fair value of the assets and liabilities acquired from Novalere. The final purchase price may be adjusted up to one year from the date of the acquisition. Identifying the fair value of the tangible and intangible assets and liabilities acquired required the use of estimates by management and were based upon currently available data, as noted below (See Note 5). The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share. The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicates an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill, the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. The goodwill was recorded as part of the acquisition of Semprae that occurred on December 24, 2013, and the acquisition of Novalere that occurred on February 5, 2015. There was no impairment of goodwill for the six months ended June 30, 2015 or the year ended December 31, 2014.	The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicate an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. There was no impairment of goodwill for the year ended December 31, 2014 or 2013. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share.
Long-Lived Assets	The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value.	The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value.
Beneficial Conversion Features and Debt Discounts	If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a Beneficial Conversion Feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method. The Company’s February 2014 Convertible Debenture and September 2014 Convertible Debenture each contain a BCF (See Note 7).	If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a beneficial conversion feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method.
Income Taxes	Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement with the relevant tax authority. There were no uncertain tax positions at June 30, 2015.	Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognized interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying statements of operation. Accrued interest and penalties are included within the related tax liability in the consolidated balance sheets.
Revenue Recognition and Deferred Revenue		The Company generates revenues from product sales and the licensing of the rights to market and commercialize its products. Product Sales License Arrangements
Sales Allowances	The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves. Actual claims for rebates and returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was approximately $26,000 at June 30, 2015 and $24,000 at December 31, 2014.	The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves, and actual claims for rebates, returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was $23,732 at December 31, 2014 and insignificant at December 31, 2013.
Cost of Goods Sold	Cost of product sales includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of three of its marketed products, Zestra®, Sensum+® and Vesele®.	Cost of goods sold includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of its marketed products, Zestra® and CIRCUMserum ™.
Research and Development Costs	Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, post marketing clinical trials, material purchases and regulatory affairs.	Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, clinical trials, material purchases and regulatory affairs.
Share-based Compensation	The Company accounts for stock-based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable.	The Company accounts for stock based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable.
Equity Instruments Issued to Non-Employees for Services	Issuances of the Company’s equity for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) or (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 9).	Issuances of the Company’s common stock for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 7).
Comprehensive Loss	Comprehensive loss consists of net loss and other gains and losses affecting stockholders’ equity that, under U.S. GAAP, are excluded from net loss. Comprehensive loss was the same as net loss for the six months ended June 30, 2015 and 2014, as the Company has no other comprehensive income.
Loss Per Share	Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted loss per share is computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the six months ended June 30, 2015 and 2014, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following table shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company as of June 30, 2015 and 2014: As of June 30, 2015 2014 Gross number of shares excluded: Restricted Stock units 19,033,482 7,937,791 Stock options 134,000 62,000 Convertible Notes 2,281,128 825,000 Warrants 1,630,973 630,973 Total 23,079,583 9,455,764 The above table does not include the ANDA Consideration Shares related to the Novalere acquisition, as they are considered contingently issuable (See Note 5).	Basic loss per share are computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted earnings per share are computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the year ended December 31, 2014 and 2013, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following reconciliation shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company at December 31, 2014 and 2013: As of December 31 2014 2013 Gross number of shares excluded: Restricted stock units 8,270,239 6,300,000 Stock options 113,000 21,000 Convertible notes payable 2,115,195 2,378,287 Warrants 630,973 380,973 Total 11,129,407 9,080,260
New Accounting Pronouncements	In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2015-11 , Inventory (Topic 330): Simplifying the Measurement of Inventory. Topic 330 In April 2015, the FASB has issued Accounting Standards Update (ASU) No. 2015-03 , Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In November 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. substantial doubt, In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern substantial doubt,

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Basis Of Presentation And Principles Of Consolidation	These unaudited condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include all assets, liabilities, revenues and expenses of the Company and its wholly owned subsidiaries: FasTrack Pharmaceuticals, Inc., Semprae Laboratories, Inc. (“Semprae”) and Novalere, Inc. (“Novalere”). All material intercompany transactions and balances have been eliminated. These interim unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Certain information required by U.S. GAAP has been condensed or omitted in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The results for the periods ended June 30, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2015 or for any future period.	These condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), and include all assets, liabilities, revenues and expenses of the Company and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated. Certain items have been reclassified to conform to the current presentation.
Use of Estimates	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 and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, revenue recognition, sales adjustments, fair value of the derivative liability and intangible assets. The Company bases its estimates on historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions.	The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such management estimates include equity-based instruments, realizability of deferred tax assets and intangible assets, contingent consideration and allowance for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions.
Fair Value Measurement	The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities and debt. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: ● Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ● Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. ● Level 3 measurements are unobservable inputs.	The Company’s financial instruments are cash, accounts receivable, accounts payable, accrued liabilities, convertible debentures and a convertible debt instrument. The recorded values of cash, trade accounts receivable, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The Company believes the recorded values of convertible debentures and convertible debt, net of the discount, approximate the fair value as the interest rate (stated or effective) approximates market rates for similar types of instruments. We remeasure the fair value of the contingent consideration arising from acquisitions each reporting period based upon amounts expected to be paid out under the terms of such agreements. The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving significant unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: · Level 1 measurements are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. · Level 2 measurements are inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. · Level 3 measurements are unobservable inputs.
Concentration of Credit Risk and Major Customers	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and trade accounts receivable. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation on such deposits. Accounts receivable consist primarily of amounts receivable from Sothema Laboratories under the Company's licensing agreements and from sales of Zestra®. The Company also requires a percentage of payment in advance for product orders with its larger partners. The Company performs ongoing credit evaluations of its customers and generally does not require collateral. As of June 30, 2015 and December 31, 2014, the Company had $37,885 and $191,601, respectively, in accounts receivable, presented net of estimated returns and allowances. The Company had three major customers that accounted for 18.3%, 13.1% and 11.1%, respectively, of net sales during the six months ended June 30, 2015. These same customers accounted for 25.1%, 0.0% and 10.4%, respectively, of gross accounts receivable as of June 30, 2015. These customers accounted for 31.4%, 0.0% and 0.0%, respectively, of net sales during the six months ended June 30, 2014 and another customer accounted for 9.9%.	primarily of cash, trade accounts receivable, and revenue. Cash held with financial institutions may exceed the amount of insurance provided by the Federal Deposit Insurance Corporation (“FDIC”) on such deposits. Accounts receivable consist primarily of amounts receivable under our licensing agreements and product sale agreements. (See Note 4). In some cases, the Company also requires a percentage of payment in advance for product orders with its larger partners. The Company has not yet recognized revenue under these arrangements. The Company also performs ongoing credit evaluations of its customers and generally does not require collateral. There have been no write-offs of trade accounts receivable during the periods presented. The following table identifies customers with accounts receivable that individually exceed 10% of the Company’s total accounts receivable for December 31, 2014 and 2013: 2014 2013 Ovation Pharma 85,000 44 % 135,035 52 % Sothema Laboratories 52,187 27 % - - Wal-Mart 20,580 11 % 37,963 15 % Revenues consist primarily of product sales and licensing rights to market and commercialize our products. The following table identifies customers with revenues that individually exceed 10% of the Company’s total revenues for the year ended December 31, 2014: Sothema Laboratories 245,380 23 % Ovation Pharma 175,000 17 % Wal-Mart 171,600 16 %
Concentration of Suppliers	The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+®, EjectDelay®, Vesele®, Androferti® and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers.	The Company has manufacturing relationships with a number of vendors or manufacturers for its products including: Sensum+™, EjectDelay®, Vesele®, and the Zestra® line of products. Pursuant to these relationships, the Company purchases product through purchase orders with its manufacturers. The Company is in the process of entering into more formal agreements with certain of these manufacturers.
Inventory	Inventory is valued at the lower of cost or market using the first-in, first-out method. Inventory is shown net of obsolescence, determined based on shelf life or potential product replacement. Inventory consists of the following at June 30, 2015: Raw materials $ 94,566 Work in process 24,122 Finished goods 172,401 Total $ 291,089	Inventory, consisting primarily of raw materials and finished goods, is valued at the lower of cost or market where cost is determined using the first-in, first-out method. Inventory is shown net of obsolescence and allowance for reducing the inventory cost to market. Obsolescence of inventory is determined based on shelf life or potential product replacement. The following table identifies inventory by category at December 31, 2014: Amount 2014 2013 Raw materials $ 90,934 $ 123,379 Finished goods 84,249 63,948 Packaging supplies 100,252 - Inventory reserve (9,476 ) (9,476 ) Total at December 31, 2014 265,959 177,851
Property, Plant and Equipment	Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets which range from three to five years. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use.	Property and equipment are recorded at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over their estimated useful lives. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use.
Intangible Assets	Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range from 7 to 15 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Amortizable intangible assets consist of the following: June 30, 2015 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 417,598 $ 39,158 $ 378,439 7 - 15 Customer Contracts 611,119 92,818 518,301 10 Sensum+® License 234,545 38,227 196,318 10 Vesele® trademark 25,287 2,304 22,983 10 Novalere Mfg Contract 4,681,000 184,975 4,496,026 10 Total $ 5,969,549 $ 357,482 $ 5,612,067 December 31, 2014 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 264,321 $ 23,671 $ 240,650 7 - 15 Customer Contracts 611,119 62,262 548,857 10 Sensum+® license 272,545 31,250 241,295 10 Vesele® trademark 25,287 717 24,570 10 Total $ 1,173,272 $ 117,900 $ 1,055,372 Expected amortization at June 30, 2015 is approximately $589,000 for each of the next five years and $2,667,000 thereafter.	Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which range in term from 7 to 14 years. The useful life of the intangible asset is evaluated each reporting period to determine whether events and circumstances warrant a revision to the remaining useful life. Intangible assets consist of the following at December 31, 2014: Accumulated Useful Lives Amount Amortization Net Amount (years) Patents and trademarks $ 264,321 $ (23,671 ) $ 240,650 7 - 14 Customer contracts 611,119 (62,262 ) 548,857 10 Sensum+™ (formally called CIRCUMserum™) license 272,545 (31,250 ) 241,295 10 Vesele 25,287 (717 ) 24,570 8 Outstanding at December 31, 2014 1,173,272 (117,900 ) 1,055,372 Expected amortization is approximately $115,000 for each of the next five years, and $481,000 thereafter.
Goodwil	The Novalere purchase price allocation was based upon an analysis of the fair value of the assets and liabilities acquired from Novalere. The final purchase price may be adjusted up to one year from the date of the acquisition. Identifying the fair value of the tangible and intangible assets and liabilities acquired required the use of estimates by management and were based upon currently available data, as noted below (See Note 5). The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share. The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicates an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill, the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. The goodwill was recorded as part of the acquisition of Semprae that occurred on December 24, 2013, and the acquisition of Novalere that occurred on February 5, 2015. There was no impairment of goodwill for the six months ended June 30, 2015 or the year ended December 31, 2014.	The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicate an impairment may have occurred, by comparing its reporting unit's carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. There was no impairment of goodwill for the year ended December 31, 2014 or 2013. Such goodwill is not deductible for tax purposes and represents the value placed on entering new markets and expanding market share.
Long-Lived Assets	The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value.	The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company evaluates assets for potential impairment by comparing estimated future undiscounted net cash flows to the carrying amount of the asset. If the carrying amount of the assets exceeds the estimated future undiscounted cash flows, impairment is measured based on the difference between the carrying amount of the assets and fair value.
Financial Instruments	If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a Beneficial Conversion Feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method. The Company’s February 2014 Convertible Debenture and September 2014 Convertible Debenture each contain a BCF (See Note 7).	If a conversion feature of conventional convertible debt is not accounted for separately as a derivative instrument and provides for a rate of conversion that is below market value, this feature is characterized as a beneficial conversion feature (“BCF”). A BCF is recorded by the Company as a debt discount. The Company amortizes the discount to interest expense over the life of the debt using the effective interest rate method.
Income Taxes	Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement with the relevant tax authority. There were no uncertain tax positions at June 30, 2015.	Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognized interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying statements of operation. Accrued interest and penalties are included within the related tax liability in the consolidated balance sheets.
Revenue Recognition, Trade Receivables and Deferred Revenue	The Company generates revenues from product sales and the licensing of the rights to market and commercialize its products. The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition. Product Sales: The license agreements the Company enters into normally generate three separate components of revenue: 1) An initial payment due on signing or when certain specific conditions are met; 2) Royalties that are earned on an ongoing basis as sales are made or a pre-agreed transfer price and 3) Milestone payments that are earned when cumulative sales reach certain levels. Revenue from the initial payments or licensing fee is recognized when all required conditions are met. Royalties are recognized as earned based on the licensee’s sales. Revenue from the milestone payments is recognized when the cumulative revenue levels are reached. ASC 605-28, Milestone Method, is not used by the Company as these milestones are sales-based and similar to a royalty and the achievement of the sales levels is neither based, in whole or in part, on the vendor’s performance nor is a research or development deliverable.
Sales Allowances	The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves. Actual claims for rebates and returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was approximately $26,000 at June 30, 2015 and $24,000 at December 31, 2014.	The Company accrues for product returns, volume rebates and promotional discounts in the same period the related sale is recognized. The Company’s product returns accrual is primarily based on estimates of future product returns over the period customers have a right of return, which is in turn based in part on estimates of the remaining shelf-life of products when sold to customers. Future product returns are estimated primarily based on historical sales and return rates. The Company estimates its volume rebates and promotional discounts accrual based on its estimates of the level of inventory of its products in the distribution channel that remain subject to these discounts. The estimate of the level of products in the distribution channel is based primarily on data provided by the Company’s customers. In all cases, judgment is required in estimating these reserves, and actual claims for rebates, returns and promotional discounts could be materially different from the estimates. The Company provides a customer satisfaction warranty on all of its products to customers for a specified amount of time after product delivery. Estimated return costs are based on historical experience and estimated and recorded when the related sales are recognized. Any additional costs are recorded when incurred or when they can reasonably be estimated. The estimated reserve for sales returns and allowances, which is included in accounts receivable, was $23,732 at December 31, 2014 and insignificant at December 31, 2013.
Cost of Goods Sold	Cost of product sales includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of three of its marketed products, Zestra®, Sensum+® and Vesele®.	Cost of goods sold includes the cost of inventory, royalties and inventory reserves. The Company is required to make royalty payments based upon the net sales of its marketed products, Zestra® and CIRCUMserum ™.
Research and Development Costs	Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, post marketing clinical trials, material purchases and regulatory affairs.	Research and development (“R&D”) costs, including research performed under contract by third parties, are expensed as incurred. Major components of R&D expenses consist of testing, clinical trials, material purchases and regulatory affairs.
Stock-based Compensation	The Company accounts for stock-based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable.	The Company accounts for stock based compensation in accordance with ASC 718, Stock Based Compensation Except for transactions with employees and directors that are within the scope of ASC 718, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable.
Equity Instruments Issued to Non-Employees for Services	Issuances of the Company’s equity for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) or (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 9).	Issuances of the Company’s common stock for services are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The measurement date for the fair value of the equity instruments issued to consultants is determined at the earlier of (a) the date at which a commitment for performance to earn the equity instruments is reached (a “performance commitment” which would include a penalty considered to be of a magnitude that is a sufficiently large disincentive for nonperformance) (b) the date at which performance is complete, and is based upon the quoted market price of the common stock at the date of issuance (See Note 7).
Comprehensive Loss	Comprehensive loss consists of net loss and other gains and losses affecting stockholders’ equity that, under U.S. GAAP, are excluded from net loss. Comprehensive loss was the same as net loss for the six months ended June 30, 2015 and 2014, as the Company has no other comprehensive income.
Loss Per Share	Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted loss per share is computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the six months ended June 30, 2015 and 2014, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following table shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company as of June 30, 2015 and 2014: As of June 30, 2015 2014 Gross number of shares excluded: Restricted Stock units 19,033,482 7,937,791 Stock options 134,000 62,000 Convertible Notes 2,281,128 825,000 Warrants 1,630,973 630,973 Total 23,079,583 9,455,764 The above table does not include the ANDA Consideration Shares related to the Novalere acquisition, as they are considered contingently issuable (See Note 5).	Basic loss per share are computed by dividing net loss by the weighted average number of common shares outstanding during the period presented. Diluted earnings per share are computed using the weighted average number of common shares outstanding during the periods plus the effect of dilutive securities outstanding during the periods. For the year ended December 31, 2014 and 2013, basic earnings per share are the same as diluted earnings per share as a result of the Company’s common stock equivalents being anti-dilutive. The following reconciliation shows the anti-dilutive shares excluded from the calculation of basic and diluted loss per common share attributable to the Company at December 31, 2014 and 2013: As of December 31 2014 2013 Gross number of shares excluded: Restricted stock units 8,270,239 6,300,000 Stock options 113,000 21,000 Convertible notes payable 2,115,195 2,378,287 Warrants 630,973 380,973 Total 11,129,407 9,080,260
New Accounting Pronouncements	In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2015-11 , Inventory (Topic 330): Simplifying the Measurement of Inventory. Topic 330 In April 2015, the FASB has issued Accounting Standards Update (ASU) No. 2015-03 , Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In November 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. substantial doubt, In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU No. 2014-10, Development Stage Entities In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern substantial doubt,

ORGANIZATION AND SUMMARY OF S22

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Account Receivable risk		The following table identifies customers with accounts receivable that individually exceed 10% of the Company’s total accounts receivable for December 31, 2014 and 2013: 2014 2013 Ovation Pharma 85,000 44 % 135,035 52 % Sothema Laboratories 52,187 27 % - - Wal-Mart 20,580 11 % 37,963 15 % Revenues consist primarily of product sales and licensing rights to market and commercialize our products. The following table identifies customers with revenues that individually exceed 10% of the Company’s total revenues for the year ended December 31, 2014: Sothema Laboratories 245,380 23 % Ovation Pharma 175,000 17 % Wal-Mart 171,600 16 %
Schedule of Inventory	Raw materials $ 94,566 Work in process 24,122 Finished goods 172,401 Total $ 291,089	Amount 2014 2013 Raw materials $ 90,934 $ 123,379 Finished goods 84,249 63,948 Packaging supplies 100,251 - Inventory reserve (9,476 ) (9,476 ) Total at December 31, 2014 265,959 177,851
Schedule of Intangible Assets and Goodwill	Amortizable intangible assets consist of the following: June 30, 2015 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 417,598 $ 39,158 $ 378,439 7 - 15 Customer Contracts 611,119 92,818 518,301 10 Sensum+® License 234,545 38,227 196,318 10 Vesele® trademark 25,287 2,304 22,983 10 Novalere Mfg Contract 4,681,000 184,975 4,496,026 10 Total $ 5,969,549 $ 357,482 $ 5,612,067 December 31, 2014 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 264,321 $ 23,671 $ 240,650 7 - 15 Customer Contracts 611,119 62,262 548,857 10 Sensum+® license 272,545 31,250 241,295 10 Vesele® trademark 25,287 717 24,570 10 Total $ 1,173,272 $ 117,900 $ 1,055,372	Accumulated Useful Lives Amount Amortization Net Amount (years) Patents and trademarks $ 264,321 $ (23,671 ) $ 240,650 7 - 14 Customer contracts 611,119 (62,262 ) 548,857 10 Sensum+™ (formally called CIRCUMserum™) license 272,545 (31,250 ) 241,295 10 Vesele 25,287 (717 ) 24,570 8 Outstanding at December 31, 2014 1,173,272 (117,900 ) 1,055,372
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	As of June 30, 2015 2014 Gross number of shares excluded: Restricted Stock units 19,033,482 7,937,791 Stock options 134,000 62,000 Convertible Notes 2,281,128 825,000 Warrants 1,630,973 630,973 Total 23,079,583 9,455,764	As of December 31 2014 2013 Gross number of shares excluded: Restricted stock units 8,270,239 6,300,000 Stock options 113,000 21,000 Convertible notes payable 2,115,195 2,378,287 Warrants 630,973 380,973 Total 11,129,407 9,080,260

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of Inventory	Raw materials $ 94,566 Work in process 24,122 Finished goods 172,401 Total $ 291,089	Amount 2014 2013 Raw materials $ 90,934 $ 123,379 Finished goods 84,249 63,948 Packaging supplies 100,251 - Inventory reserve (9,476 ) (9,476 ) Total at December 31, 2014 265,959 177,851
Schedule of Intangible Assets and Goodwill	Amortizable intangible assets consist of the following: June 30, 2015 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 417,598 $ 39,158 $ 378,439 7 - 15 Customer Contracts 611,119 92,818 518,301 10 Sensum+® License 234,545 38,227 196,318 10 Vesele® trademark 25,287 2,304 22,983 10 Novalere Mfg Contract 4,681,000 184,975 4,496,026 10 Total $ 5,969,549 $ 357,482 $ 5,612,067 December 31, 2014 Amount Accumulated Amortization Net Amount Useful Lives (years) Patent & Trademarks $ 264,321 $ 23,671 $ 240,650 7 - 15 Customer Contracts 611,119 62,262 548,857 10 Sensum+® license 272,545 31,250 241,295 10 Vesele® trademark 25,287 717 24,570 10 Total $ 1,173,272 $ 117,900 $ 1,055,372	Accumulated Useful Lives Amount Amortization Net Amount (years) Patents and trademarks $ 264,321 $ (23,671 ) $ 240,650 7 - 14 Customer contracts 611,119 (62,262 ) 548,857 10 Sensum+™ (formally called CIRCUMserum™) license 272,545 (31,250 ) 241,295 10 Vesele 25,287 (717 ) 24,570 8 Outstanding at December 31, 2014 1,173,272 (117,900 ) 1,055,372
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	As of June 30, 2015 2014 Gross number of shares excluded: Restricted Stock units 19,033,482 7,937,791 Stock options 134,000 62,000 Convertible Notes 2,281,128 825,000 Warrants 1,630,973 630,973 Total 23,079,583 9,455,764	As of December 31 2014 2013 Gross number of shares excluded: Restricted stock units 8,270,239 6,300,000 Stock options 113,000 21,000 Convertible notes payable 2,115,195 2,378,287 Warrants 630,973 380,973 Total 11,129,407 9,080,260

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Aggregate purchase price consideration	Fair value of common stock issued to Semprae shareholders, net of shares to be returned from escrow $ 900,909 Fair value of royalty 308,273 Net purchase price consideration $ 1,209,182
Fair value of assets acquired and liabilities assumed	Cash $ 3,749 Accounts receivable 78,445 Inventory 180,441 Prepaid expenses 16,362 Property and equipment 78,973 Customer contracts 611,119 Patents 99,894 Trademarks 160,278 Goodwill 429,225 Accounts Payable (105,804 ) Debt (343,500 ) Net Purchase Price Consideration $ 1,209,182

BUSINESS ACQUISITIONS (Tables 2

BUSINESS ACQUISITIONS (Tables 2)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule of Business Acquisitions and purchase price		Fair value of common stock issued to Semprae shareholders, net of shares to be returned from escrow $ 900,909 Fair value of royalty 308,273 Net purchase price consideration $ 1,209,182
Schedule of Assets Acquired and Liabilities Assumed		Cash $ 3,749 Accounts receivable 78,445 Inventory 180,441 Prepaid expenses 16,362 Property and equipment 78,973 Customer contracts 611,119 Patents 99,894 Trademarks 160,278 Goodwill 429,225 Accounts Payable (105,804 ) Debt (343,500 ) Net Purchase Price Consideration $ 1,209,182
NovalereMember
Schedule of Business Acquisitions and purchase price	The total fair market value of the considerations issued and to be issued for the transaction are as follows: Shares FMV Closing Consideration Shares 12,947,657 $ 2,071,625 ANDA Consideration Shares 12,947,655 1,657,300 Total 25,895,312 $ 3,728,925 Based on the assumptions, the fair market value of the Earn Out Payments was determined to be $1,205,000. The preliminary fair values of the future earn out payments was determined by applying the income approach, using several significant unobservable inputs for projected cash flows and a discount rate. These inputs are considered Level 3 inputs under the fair value measurements and disclosure guidance. The total purchase price is summarized as follows: Cash Consideration $ 43,124 Common Stock issued at closing 2,071,625 ANDA Consideration Shares 1,657,300 Fair Market Value of Future Earn Out Payments 1,205,000 Total $ 4,977,049
Schedule of Assets Acquired and Liabilities Assumed	Cash $ 43,124 Prepaid expenses and other current assets 25,906 Total Tangible Assets 69,030 Product rights and related Manufacturing agreement 4,681,000 Trademarks 150,000 Total identifiable Intangible Assets 4,831,000 Goodwill 120,143 Total Acquired Assets 5,020,173 Other current liabilities (43,124 ) Total Assumed Liabilities (43,124 ) Acquired Assets Net of Assumed Liabilities $ 4,977,049
Schedule of ProForma information	Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 As Reported Pro Form (unaudited) As Reported Pro Forma (unaudited) Revenue $ 380,325 $ 380,325 $ 279,872 $ 289,732 Net Loss $ (2,366,031 ) $ (2,682,161 ) $ 2,525,029 $ (4,139321 ) Loss per Common Share-basic and diluted $ (0.06 ) $ (0.07 ) $ (0.11 ) $ (0.11 ) Shares used in computed net loss per common share 37,909,664 40,413,334 23,191,829 36,139,486

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Notes Payable [Abstract]
Schedule of Notes Payable	June 30, 2015 December 31, 2014 Current notes payable: January 2015 Non-Convertible Debenture $ 110,000 $ - February 2014 Convertible Debenture 330,000 330,000 August 2014 Debenture 40,000 40,000 Total current notes payable 480,000 370,000 Less: Debt discount, net of accretion (current) (120,085 ) (55,982 ) $ 359,915 $ 314,018 Long-term notes -payable September 2014 Convertible Debenture $ - $ 92,000 Less: Debt discount, net of accretion (long-term) - (67,726 ) $ - $ 24,274	Current notes payable 2014 2013 December 2013 Debenture $ - $ 350,000 February 2014 Convertible Debenture 330,000 - August 2014 Debenture 40,000 - January 2013 Debenture-non related party - 20,000 370,000 370,000 Less: Debt discount, net of accretion (current) (55,982 ) - $ 314,018 $ 370,000 Long-term notes -payable September 2014 Convertible Debenture $ 92,000 $ - Less: Debt discount, net of accretion (long-term) (67,726 ) - $ 24,274 $ -

DEBENTURES _ RELATED PARTIES (T

DEBENTURES – RELATED PARTIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Convertible Debt	June 30, 2015 December 31, 2014 LOC Convertible Debenture $ 424,192 $ 424,078 January 2015 Non-Convertible Debenture-CFO 55,000 2014 Non-Convertible Notes-Related Party 150,000 150,000 Total 629,192 574,078 Less : Debt Discount, net of accretion (98,310 ) (76,492 ) Sub-Total 530,882 497,586 Less: Current Portion (150,108 ) - Total $ 380,774 $ 497,586	2014 2013 January 2012 Debentures $ - $ 142,668 January 2013 Debentures - 70,000 LOC Convertible Debenture 424,078 448,475 Debentures – related party 150,000 - 574,078 661,143 Less: Debt Discount, net of accretion (76,492 ) (149,678 ) $ 497,586 $ 511,465

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Schedule of Accrued Compensation	June 30, 2015 December 31, 2014 Wages $ 1,115,922 $ 791,987 Vacation 160,155 114,941 Total accrued compensation $ 1,276,077 $ 906,928

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Equity [Abstract]
Schedule Of Assumptions Used	Expected life (in years) 6.0 Expected volatility 219.31 % Average risk free interest rate 1.54 % Dividend yield 0 %	December 31, 2014 December 31, 2013 Expected life (in years) 6 6 Expected volatility 224.42% - 236.78 % 235.7% - 240.6 % Average risk free interest rate 1.69% - 2.02 % 1.71% - 2.10 % Dividend yield 0 % 0 %
Schedule of Share-based Compensation, Stock Options	Options Weighted average exercise price Weighted remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2014 113,000 $ 0.37 9.5 $ - Granted 21,000 $ 0.13 10.0 - Exercised - - - - Cancelled - - - - Forfeited - - - - Outstanding at June 30, 2015 134,000 $ 0.29 9.6 - Vested at June 30, 2015 134,000 $ 0.29 9.6 $ -	Options Weighted average exercise price Weighted remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2012 - $ - - $ - Granted 51,000 0.46 9.8 1,200 Exercised - - - - Cancelled - - - - Forfeited (30,000 ) - - - Outstanding at December 31, 2013 21,000 $ 0.64 9.9 $ - Vested at December 31, 2013 21,000 $ 0.64 9.9 $ - Granted 92,000 0.31 9.6 - Exercised - - - - Cancelled - - - - Forfeited - - - - Outstanding at December 31, 2014 113,000 $ 0.37 9.5 $ - Vested at December 31, 2014 113,000 $ 0.37 9.5 $ -
Schedule of Share-based Compensation, Restricted Stock Units		Stock Units Outstanding at December 31, 2012 - Granted 7,061,250 Expired - Cancelled (750,000 ) Forfeited - Outstanding at December 31, 2013 6,311,250 Vested at December 31, 2013 4,083,333 Granted 1,958,989 Expired - Cancelled - Forfeited - Outstanding at December 31, 2014 8,270,239 Vested at December 31, 2014 7,228,565

SHAREHOLDERS' EQUITY (Tables 2)

SHAREHOLDERS' EQUITY (Tables 2)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Employee Stock Option [Member]
Schedule of Share-based Compensation, Stock Options	Restricted Stock Units Outstanding at December 31, 2014 8,270,239 Granted 10,763,243 Exercised - Cancelled - Outstanding at June 30, 2015 19,033,482 Vested at June 30, 2015 12,758,910
Warrant [Member]
Schedule Of Assumptions Used	June 30, 2015 Expected life (in years) 6.0 Expected volatility 100.00 Average risk free interest rate 1.54 % Dividend yield 0 %
Schedule of Warrant activity	June 30, 2015 Beginning Balance $ - Value of Derivative Liability with January 2015 Non-Convertible Debentures 149,998 Value of Derivative Liability with the February 2014 Convertible Debentures 76,299 Change in Fair Value (47,929 ) Ending Balance $ 178,368
Schedule Of Assumptions Used	Expected life (in years) 6.0 Expected volatility 219.31 % Average risk free interest rate 1.54 % Dividend yield 0 %	December 31, 2014 December 31, 2013 Expected life (in years) 6 6 Expected volatility 224.42% - 236.78 % 235.7% - 240.6 % Average risk free interest rate 1.69% - 2.02 % 1.71% - 2.10 % Dividend yield 0 % 0 %
Schedule of Share-based Compensation, Stock Options	Options Weighted average exercise price Weighted remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2014 113,000 $ 0.37 9.5 $ - Granted 21,000 $ 0.13 10.0 - Exercised - - - - Cancelled - - - - Forfeited - - - - Outstanding at June 30, 2015 134,000 $ 0.29 9.6 - Vested at June 30, 2015 134,000 $ 0.29 9.6 $ -	Options Weighted average exercise price Weighted remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2012 - $ - - $ - Granted 51,000 0.46 9.8 1,200 Exercised - - - - Cancelled - - - - Forfeited (30,000 ) - - - Outstanding at December 31, 2013 21,000 $ 0.64 9.9 $ - Vested at December 31, 2013 21,000 $ 0.64 9.9 $ - Granted 92,000 0.31 9.6 - Exercised - - - - Cancelled - - - - Forfeited - - - - Outstanding at December 31, 2014 113,000 $ 0.37 9.5 $ - Vested at December 31, 2014 113,000 $ 0.37 9.5 $ -
Schedule of Share-based Compensation, Restricted Stock Units		Stock Units Outstanding at December 31, 2012 - Granted 7,061,250 Expired - Cancelled (750,000 ) Forfeited - Outstanding at December 31, 2013 6,311,250 Vested at December 31, 2013 4,083,333 Granted 1,958,989 Expired - Cancelled - Forfeited - Outstanding at December 31, 2014 8,270,239 Vested at December 31, 2014 7,228,565

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Deferred Tax Assets	2014 2013 Net operating loss carry-forwards $ 2,218,000 $ 1,165,000 Equity based instruments 1,515,000 877,000 Deferred compensation 361,000 155,000 Intangibles 173,000 70,000 Warrants 759,000 745,000 Other 46,000 80,000 Less: Valuation allowance (5,072,000 ) (3,092,000 ) Net deferred tax assets - -
Effective Income Tax Rate Reconciliation	2014 2013 Expected federal tax 34.00 % 34.00 % State tax (net of federal benefit) 6.13 % 5.80 % Other 0.89 % (0.10 )% Valuation allowance (41.02 )% (39.70 )% Total - % - %

ORGANIZATION AND SUMMARY OF S32

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Accounts Receivable Net Current	$ 37,885	$ 37,885	$ 37,885	$ 37,885	$ 191,601	$ 216,641
Revenue	$ 183,473	$ 113,784	$ 380,325	$ 279,872	$ 1,030,113	6,641
Concentration Risk Percentage					10.00%
Sothema [Member]
Accounts Receivable Net Current					$ 85,000	$ 135,035
Sothema [Member] | Sales Revenue Net [Member]
Revenue					$ 175,000
Concentration Risk Percentage					17.00%
Sothema [Member] | Billed Revenue [Member]
Concentration Risk Percentage					27.00%
Ovation Pharma [Member]
Accounts Receivable Net Current					$ 52,187
Revenue					100,000
Ovation Pharma [Member] | Sales Revenue Net [Member]
Revenue					$ 245,380
Concentration Risk Percentage					23.00%
Ovation Pharma [Member] | Billed Revenues [Member]
Concentration Risk Percentage					44.00%	52.00%
WalMart [Member]
Accounts Receivable Net Current					$ 37,963		$ 20,580
WalMart [Member] | Sales Revenue Net [Member]
Revenue					$ 171,600
Concentration Risk Percentage					16.00%
WalMart [Member] | Billed Revenues [Member]
Concentration Risk Percentage					11.00%	15.00%

ORGANIZATION AND SUMMARY OF S33

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Inventory
Raw Materials		$ 90,934		$ 123,379
Finished goods	$ 172,401	84,249		$ 63,948
Packaging supplies		100,252
Inventory reserve		(9,476)		$ (9,476)
Total	$ 291,089	$ 265,959	$ 291,089	$ 177,851

ORGANIZATION AND SUMMARY OF S34

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Intangible assets, Amount	$ 5,969,549	$ 1,173,272
Intangible assets, Accumulated Amortization	(357,482)	(117,900)
Intangible assets, Net Amount	5,612,067	1,055,372
Vesele [Member]
Intangible assets, Amount		25,287
Intangible assets, Accumulated Amortization		(717)
Intangible assets, Net Amount		$ 24,570
Intangible assets, Useful Lives (years)		8 years
Patents and Trademarks [Member]
Intangible assets, Amount	417,598	$ 264,321
Intangible assets, Accumulated Amortization	(39,158)	(23,671)
Intangible assets, Net Amount	$ 378,439	$ 240,650
Patents and Trademarks [Member] | Minimum [Member]
Intangible assets, Useful Lives (years)	7 years	7 years
Patents and Trademarks [Member] | Maximum [Member]
Intangible assets, Useful Lives (years)	15 years	15 years
Customer Contracts [Member]
Intangible assets, Amount	$ 611,119	$ 611,119
Intangible assets, Accumulated Amortization	(92,818)	(62,262)
Intangible assets, Net Amount	$ 518,301	$ 548,857
Intangible assets, Useful Lives (years)	10 years	10 years
Licensing Agreements [Member]
Intangible assets, Amount	$ 234,545	$ 272,545
Intangible assets, Accumulated Amortization	(38,227)	(31,250)
Intangible assets, Net Amount	$ 196,318	$ 241,295
Intangible assets, Useful Lives (years)	10 years	10 years

ORGANIZATION AND SUMMARY OF S35

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	23,079,583	9,455,764	11,129,407	9,080,260
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,630,973	630,973	630,973	380,973
Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,281,128	825,000	2,115,195	2,378,287
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	134,000	62,000	113,000	21,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	19,033,482	7,937,791	8,270,239	6,300,000

ORGANIZATION AND SUMMARY OF S36

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Accumulated Deficit					$ 11,231,967
Line Of Credit Facility, Maximum Borrowing Capacity					1,500,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 100,000,000		$ 100,000,000		1,100,000
Line of Credit Facility, Cash Available for use					1,100,000
Cash and Cash Equivalents					7,479
Proceeds from debt					1,000,000
Revenue	183,473	$ 113,784	380,325	$ 279,872	1,030,113	$ 6,641
Upfront license fees					375,000
Product sales					655,113	$ 6,641
Accounts receivable					$ 200,000
Concentration Risk, Percentage					10.00%
Finite-Lived Intangible Assets, Amortization Expense, Year One to Five	589,000		589,000		$ 115,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 2,667,000		2,667,000		480,000
Revenue Recognition, Sales Returns, Reserve for Sales Returns			$ 26,000		26,000
September 2014 Debenture [Member]
Proceeds from debt					$ 400,000

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 94,566
Work in process	24,122
Finished goods	172,401	$ 84,249		$ 63,948
Total	$ 291,089	$ 265,959	$ 291,089	$ 177,851

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Intangible assets, Amount	$ 5,969,549	$ 1,173,272
Intangible assets, Accumulated Amortization	357,482	117,900
Intangible assets, Net Amount	5,612,067	1,055,372
Customer Contracts [Member]
Intangible assets, Amount	611,119	611,119
Intangible assets, Accumulated Amortization	92,818	62,262
Intangible assets, Net Amount	$ 518,301	$ 548,857
Intangible assets, Useful Lives (years)	10 years	10 years
Sensum License [Member]
Intangible assets, Amount	$ 234,545	$ 272,545
Intangible assets, Accumulated Amortization	38,227	31,250
Intangible assets, Net Amount	$ 196,318	$ 241,295
Intangible assets, Useful Lives (years)	10 years	10 years
Patents and Trademarks [Member]
Intangible assets, Amount	$ 417,598	$ 264,321
Intangible assets, Accumulated Amortization	39,158	23,671
Intangible assets, Net Amount	$ 378,439	$ 240,650
Patents and Trademarks [Member] | Minimum [Member]
Intangible assets, Useful Lives (years)	7 years	7 years
Patents and Trademarks [Member] | MaximumMember
Intangible assets, Useful Lives (years)	15 years	15 years
SensumMfg Contract [Member]
Intangible assets, Amount	$ 4,681,000	$ 272,545
Intangible assets, Accumulated Amortization	184,975	31,250
Intangible assets, Net Amount	$ 4,496,026	$ 241,295
Intangible assets, Useful Lives (years)	10 years	10 years
VeseleTrademark [Member]
Intangible assets, Amount	$ 25,287	$ 25,287
Intangible assets, Accumulated Amortization	2,304	717
Intangible assets, Net Amount	$ 22,983	$ 24,570
Intangible assets, Useful Lives (years)	10 years	10 years

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	23,079,583	9,455,764	11,129,407	9,080,260
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,630,973	630,973	630,973	380,973
Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,281,128	825,000	2,115,195	2,378,287
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	134,000	62,000	113,000	21,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	19,033,482	7,937,791	8,270,239	6,300,000

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	1 Months Ended	6 Months Ended		12 Months Ended
	Aug. 08, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2013
Accounts Receivable, Net, Current, Total		$ 37,885	$ 37,885	$ 191,601		$ 216,641
Concentration Risk, Percentage				10.00%
Finite-Lived Intangible Assets, Amortization Expense, Year One to Five		589,000		$ 115,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five		2,667,000		480,000
Revenue Recognition, Sales Returns, Reserve for Sales Returns		26,000		26,000
WalMart [Member]
Accounts Receivable, Net, Current, Total				37,963	$ 20,580
License fee received	$ 11,000
Sothema [Member]
Accounts Receivable, Net, Current, Total				85,000		$ 135,035
License fee received	$ 36,500			$ 200,000
BroadMed SAL [Member]
License fee received		$ 5,000
Customer 2 [Member]
Concentration Risk, Percentage		13.10%	0.00%
Risk, receivables		0.00%
Customer 3 [Member]
Concentration Risk, Percentage		11.10%	0.00%
Risk, receivables		10.40%
Customer 1 [Member]
Concentration Risk, Percentage		18.30%	31.40%
Risk, receivables		52.10%
Customer 4 [Member]
Concentration Risk, Percentage			9.90%

LICENSE AGREEMENTS (Details Tex

LICENSE AGREEMENTS (Details Textual) - USD ($)	Apr. 19, 2013	Aug. 08, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Sep. 09, 2013
Finite-Lived Intangible Assets, Accumulated Amortization			$ 357,482		$ 357,482		$ 117,900
Amortization of Intangible Assets					(239,582)	$ (44,044)	(114,006)	$ 18,608
Revenue			$ 183,473	$ 113,784	380,325	279,872	1,030,113	6,641
Shares issued for services, value					$ 751,710	$ 926,164	1,509,005	$ 2,254,898
CRI [Member]
Maximum Milestone Payments							7,000,000
Stock Issued, Value	$ 250,000
Stock Issued, Shares	631,313
Finite-Lived Intangible Assets, Accumulated Amortization	$ 250,000						31,250
Amortization of Intangible Assets	16,736
Shares issued for services, value	$ 75,000
CRI [Member] | Criteria One [Member]
Stock Issued, Value							200,000
Ovation Agmt 1 [Member]
Maximum Milestone Payments									$ 1,125,000
Ovation Agmt 2 [Member]
Maximum Milestone Payments									$ 18,600,000
Sothema [Member]
Maximum Milestone Payments							171,000,000
License fee received		$ 36,500					200,000
Orimed [Member]
Maximum Milestone Payments							94,500,000
License fee received							100,000
Tramorgan [Member]
Maximum Milestone Payments							$ 44,000,000
License fee received
Ovation Pharma [Member]
Revenue							$ 100,000
License fee received							$ 75,000

RECENT LICENSE AGREEMENTS (Deta

RECENT LICENSE AGREEMENTS (Details Textual) - USD ($)	1 Months Ended			6 Months Ended	12 Months Ended
	Aug. 08, 2015	Apr. 30, 2015	Mar. 17, 2015	Jun. 30, 2015	Dec. 31, 2014
Tabuk [Member] | MaximumMember
License fee received			$ 86,500,000
BroadMed SAL [Member]
License fee received				$ 5,000
BroadMed SAL [Member] | MaximumMember
License fee received		$ 11,100,000
WalMart [Member]
License fee received	$ 11,000
Sothema [Member]
License fee received	$ 36,500				$ 200,000
OZ Biogenics [Member] | MaximumMember
Order value		860,000
OZ Biogenics [Member] | Minimum [Member]
Order value		$ 86,000

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details) - USD ($)	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 429,225	$ 549,368	$ 421,372
Semprae Laboratories Inc [Member]
Business Acquisition [Line Items]
Cash	3,749
Accounts receivable	78,445
Inventory	180,441
Prepaid expenses	16,362
Property and equipment	78,973
Customer contracts	611,119
Patents	99,894
Trademarks	160,278
Goodwill	429,225
Accounts Payable	(105,804)
Debt	(343,500)
Net Purchase Price Consideration	1,209,182
Fair value of common stock issued to Semprae shareholders, net of shares to be returned from escrow	900,909
Fair Market Value of Royalty	$ 308,273

BUSINESS ACQUISITIONS (Details

BUSINESS ACQUISITIONS (Details B)	Jun. 30, 2015USD ($)
NovalereMember
Business Acquisition [Line Items]
Common Stock	$ 25,895,312
Fair Market Value of Contingent Consideration - Royalty	3,728,925
NovalereMember | ClosingShares [Member]
Business Acquisition [Line Items]
Common Stock	12,947,657
Fair Market Value of Contingent Consideration - Royalty	2,071,625
NovalereMember | ANDAShares [Member]
Business Acquisition [Line Items]
Common Stock	12,947,655
Fair Market Value of Contingent Consideration - Royalty	$ 1,657,300

BUSINESS ACQUISITIONS (Detail45

BUSINESS ACQUISITIONS (Details 1B)	Jun. 30, 2015USD ($)
NovalereMember
Business Acquisition [Line Items]
Cash consideration	$ 43,124
Fair Market Value of Contingent Consideration - Royalty	3,728,925
Fair Market Value of Future Earn Out Payments	1,205,000
Net Purchase Price Consideration	4,977,049
NovalereMember | ClosingShares [Member]
Business Acquisition [Line Items]
Fair Market Value of Contingent Consideration - Royalty	2,071,625
NovalereMember | ANDAShares [Member]
Business Acquisition [Line Items]
Fair Market Value of Contingent Consideration - Royalty	$ 1,657,300

BUSINESS ACQUISITIONS (Detail46

BUSINESS ACQUISITIONS (Details 2B) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Pro Forma [Member]
Business Acquisition [Line Items]
Revenue, pro forma	$ 380,325	$ 289,732
Net loss, pro forma	$ (2,682,161)	$ (4,139,821)
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ (0.07)	$ (0.11)
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ (0.07)	$ (0.11)
Shares used in computed net loss per common share, Basic	40,413,334	36,139,486
Shares used in computed net loss per common share, Diluted	40,413,334	36,139,486
Scenario, Previously Reported [Member]
Business Acquisition [Line Items]
Revenue, pro forma	$ 380,325	$ 279,872
Net loss, pro forma	$ (2,366,031)	$ (2,525,029)
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ (0.06)	$ (0.11)
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ (0.06)	$ (0.10)
Shares used in computed net loss per common share, Basic	37,909,664	23,191,829
Shares used in computed net loss per common share, Diluted	37,909,664	23,191,829

BUSINESS ACQUISITIONS (Detail47

BUSINESS ACQUISITIONS (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 24, 2013	Dec. 31, 2014
Business Acquisition [Line Items]
Payment of royalty		$ 427,000
Change in fair value of contingent consideration		16,106
Semprae Laboratories Inc [Member]
Business Acquisition [Line Items]
Percentage Of Ownership Interests	100.00%
Outstanding Loan Amount Paid	$ 343,500
Loans Outstanding	$ 640,000
Shares issued for acquisition, shares	3,201,776
Shares issued for acquisition, value	$ 960,530
Percentage Of Issued And Outstanding Shares	15.00%
Net Sales Annual Royalty Percentage	5.00%
Business Acquisition Equity Interest Issued Or Issuable Fair Value Per Share	$ 0.30
Percentage Of Discount Rate	40.00%
Fair value of royalty		308,273
Change in fair value of contingent consideration	$ 324,000
Receivable, business acquisition		$ 60,000

BUSINESS ACQUISITIONS (Detail48

BUSINESS ACQUISITIONS (Details Textual B) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Closing price stock	$ 0.001	$ 0.001	$ 0.001
NovalereMember
Business Acquisition [Line Items]
Cash consideration	$ 43,124
Common Stock	25,895,312
Fair Market Value of Contingent Consideration - Royalty	3,728,925
Fair Market Value of Future Earn Out Payments	1,205,000
Net Purchase Price Consideration	4,977,049
Earn out payment maximum	$ 2,500,000
Closing price stock	$ 0.20
NovalereMember
Business Acquisition [Line Items]
Escrow shares	12,280,796
NovalereMember | ClosingShares [Member]
Business Acquisition [Line Items]
Common Stock	$ 12,947,657
Fair Market Value of Contingent Consideration - Royalty	2,071,625
NovalereMember | ANDAShares [Member]
Business Acquisition [Line Items]
Common Stock	12,947,655
Fair Market Value of Contingent Consideration - Royalty	$ 1,657,300

BUSINESS ACQUISITIONS (Detail49

BUSINESS ACQUISITIONS (Details Textual 1B) - Semprae Laboratories Inc [Member]	1 Months Ended
	Dec. 24, 2013shares
Business Acquisition [Line Items]
Percentage Of Ownership Interests	100.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	3,201,776

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Notes Payable	$ 48,000,000	$ 37,000,000	$ 370,000
Less: Debt discount, net of accretion	(120,085)	(55,982)
Notes Payable, Current, Net		314,018	$ 370,000
Long-term notes payable		24,274
Less: Debt discount, net of accretion		(67,726)
Notes Payable, Long-term, Net		24,274
Aug 2014 Debenture [Member]
Notes Payable	4,000,000	$ 4,000,000
Dec 2013 Debenture [Member]
Notes Payable	$ 11,000,000		$ 350,000
Feb 2014 Debenture [Member]
Notes Payable		$ 330,000
Jan 2013 Debenture [Member]
Notes Payable
September 2014 Debenture [Member]
Notes Payable		$ 9,222,200
Less: Debt discount, net of accretion		(67,726)
Long-term notes payable		92,000
January 2013 Debenture [Member]
Notes Payable		$ 37,000,000	$ 20,000

NOTES PAYABLE (Details B)

NOTES PAYABLE (Details B) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Promissory Notes	$ 48,000,000	$ 37,000,000		$ 370,000
Less: Debt discount, net of accretion	(120,085)	(55,982)
Notes Payable, Current, Total	359,915	314,018	$ 359,915	$ 370,000
Long-term notes payable		24,274
February 2014 Debenture [Member]
Promissory Notes	33,000,000	330,000
August 2014 Debenture [Member]
Promissory Notes	4,000,000	$ 4,000,000
August 2014 Debenture Amend [Member]
Promissory Notes	3,000,000
Notes Payable, Current, Total	73,200
Jan NonConv 2015 Debenture [Member]
Promissory Notes	11,000,000
Jan 2015 Debenture [Member]
Promissory Notes	$ 11,000,000			$ 350,000
February 2014 Debunture [Member]
Promissory Notes		$ 33,000,000
January 2013 Debenture [Member]
Promissory Notes		37,000,000		$ 20,000
September 2014 Debenture [Member]
Promissory Notes		9,222,200
Less: Debt discount, net of accretion		(67,726)
Long-term notes payable		$ 92,000

NOTES PAYABLE (Details 1B)

NOTES PAYABLE (Details 1B)	6 Months Ended
	Jun. 30, 2015
Notes Payable [Abstract]
Expected life (in years)	6 years
Expected volatility	100.00%
Average risk free interest rate	1.54%
Dividend yield	0.00%

NOTES PAYABLE (Details Textuals

NOTES PAYABLE (Details Textuals) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 19, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Promissory Notes		$ 48,000,000		$ 48,000,000		$ 37,000,000	$ 370,000
Proceeds from note issuance				100,000	$ 300,000	340,000	$ 350,000
Loss on extinguishment of debt				(32,500)		(406,833)
Notes Payable, Current, Total						370,000	$ 370,000
Amortization of Debt Discount (Premium)				220,417	256,198
Beneficial conversion				4,154		325,855
Interest expense, including Amortization of debt discount		97,484	$ 88,343	271,366	$ 296,837	532,230	$ 67,246
February 2014 Debenture [Member]
Promissory Notes		$ 33,000,000		$ 33,000,000		$ 330,000
Debt Instrument, Interest Rate, Effective Percentage		10.00%		10.00%		10.00%
Less: Debt discount, net of accretion		$ 30,000		$ 30,000		$ 30,000
Warrants To Purchase For Issuance Of Common Stock		250,000		250,000		250,000
Debt Instrument, Convertible, Conversion Price		$ 0.40		$ 0.40		$ .40
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed				125.00%		125.00%
Amortization of Debt Discount (Premium)				$ 30,000		$ 30,000
Warrant exercise price		$ 0.50		$ 0.50		$ .30
Fair value, warrants		$ 96,533		$ 96,533		$ 96,533
Additional warrants issued						250,000
Beneficial conversion				179,032		$ 179,032
Aug 2014 Debenture [Member]
Promissory Notes		$ 4,000,000		$ 4,000,000		$ 4,000,000
Debt Instrument, Interest Rate, Effective Percentage		8.00%		8.00%		8.00%
Jan 2012 Debenture [Member]
Promissory Notes							$ 20,000
Stock issued						475,032		16,580
January 2013 Debenture [Member]
Promissory Notes						$ 37,000,000	20,000
Jan 2013 Debenture [Member]
Promissory Notes
January2013DebentureMember
Stock issued	190,304
January Fifteen 2013 LOC [Member]
Stock issued				1,190,411		1,190,411
Dec 2013 Debenture [Member]
Promissory Notes		$ 11,000,000		$ 11,000,000			$ 350,000
Debt Instrument, Interest Rate, Effective Percentage							8.00%
Stock issued						1,900,000
Loss on extinguishment of debt						$ (406,833)
Fair value, warrants							$ 779,000
February 2014 Debunture [Member]
Promissory Notes						33,000,000
Warrant exercise price							$ .50
September 2014 Debenture [Member]
Promissory Notes						9,222,200
Proceeds from note issuance				$ 50,000		$ 50,000
Debt Instrument, Interest Rate, Effective Percentage		41.00%		41.00%		41.00%
Stock issued				230,000
Less: Debt discount, net of accretion		$ 42,000		$ 42,000		$ 42,000
Debt Instrument, Convertible, Conversion Price		$ 0.40		$ 0.40		$ .40
Beneficial conversion				$ 37,400		$ 37,400
Convertible Notes Payable [Member]
Interest expense, including Amortization of debt discount		$ 43,642		$ 184,379		$ 100	$ 316,800

NOTES PAYABLE (Details Textua54

NOTES PAYABLE (Details Textuals B) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 19, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Promissory Notes		$ 48,000,000		$ 48,000,000		$ 37,000,000	$ 370,000
Proceeds from note issuance				100,000	$ 300,000	340,000	$ 350,000
Loss on extinguishment of debt				(32,500)		(406,833)
Notes Payable, Current, Total		359,915	$ 359,915	359,915	359,915	314,018	$ 370,000
Amortization of Debt Discount (Premium)				220,417	256,198
Beneficial conversion				4,154		325,855
Interest expense, including Amortization of debt discount		97,484	$ 88,343	271,366	$ 296,837	532,230	$ 67,246
February 2014 Debenture [Member]
Promissory Notes		$ 33,000,000		$ 33,000,000		$ 330,000
Debt Instrument, Interest Rate, Effective Percentage		10.00%		10.00%		10.00%
Less: Debt discount, net of accretion		$ 30,000		$ 30,000		$ 30,000
Warrants To Purchase For Issuance Of Common Stock		250,000		250,000		250,000
Debt Instrument, Convertible, Conversion Price		$ 0.40		$ 0.40		$ .40
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed				125.00%		125.00%
Amortization of Debt Discount (Premium)				$ 30,000		$ 30,000
Warrant exercise price		$ 0.50		$ 0.50		$ .30
Fair value, warrants		$ 96,533		$ 96,533		$ 96,533
Beneficial conversion				179,032		179,032
February 2014 Debenture [Member] | Warrant Mod [Member]
Loss on extinguishment of debt				32,500
Notes Payable, Current, Total		$ 260,542		$ 260,542
Warrants To Purchase For Issuance Of Common Stock		500,000		500,000
Debt Instrument, Convertible, Conversion Price		$ 0.30		$ 0.30
Common stock issued				250,000
Fair value, warrants		$ 76,299		$ 76,299
August 2014 Debenture Amend [Member]
Promissory Notes		3,000,000		3,000,000
Notes Payable, Current, Total		73,200		73,200
August 2014 Debenture [Member]
Promissory Notes		$ 4,000,000		$ 4,000,000		$ 4,000,000
Debt Instrument, Interest Rate, Effective Percentage		8.00%		8.00%		8.00%
January2013DebentureMember
Stock issued	190,304
September 2014 Debenture [Member]
Promissory Notes						$ 9,222,200
Proceeds from note issuance				$ 50,000		$ 50,000
Debt Instrument, Interest Rate, Effective Percentage		41.00%		41.00%		41.00%
Stock issued				230,000
Less: Debt discount, net of accretion		$ 42,000		$ 42,000		$ 42,000
Debt Instrument, Convertible, Conversion Price		$ 0.40		$ 0.40		$ .40
Beneficial conversion				$ 37,400		$ 37,400
January Fifteen 2013 Line Of Credit [Member]
Stock issued				1,190,411		1,190,411
Jan NonConv 2015 Debenture [Member]
Promissory Notes		$ 11,000,000		$ 11,000,000
Proceeds from note issuance				$ 100,000
Debt Instrument, Interest Rate, Effective Percentage		8.00%		8.00%
Warrants To Purchase For Issuance Of Common Stock		500,000		500,000
Amortization of Debt Discount (Premium)				$ 109,999
Fair value, warrants		$ 99,999		99,999
Jan 2015 Debenture [Member]
Promissory Notes		11,000,000		11,000,000			$ 350,000
Debt Instrument, Interest Rate, Effective Percentage							8.00%
Stock issued						1,900,000
Loss on extinguishment of debt						$ (406,833)
Fair value, warrants							$ 779,000
February 2014 Debunture [Member]
Promissory Notes						33,000,000
Warrant exercise price							$ .50
January 2013 Debenture [Member]
Promissory Notes						37,000,000	$ 20,000
Convertible Notes Payable [Member]
Interest expense, including Amortization of debt discount		$ 43,642		$ 184,379		$ 100	$ 316,800

DEBENTURES - RELATED PARTIES (D

DEBENTURES - RELATED PARTIES (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Convertible Debentures	$ (150,108)	$ 574,078	$ 661,143
Debt Discount, net of accretion	$ (98,310)	(76,492)	(149,678)
Convertible Debentures- related parties (See Note64)		497,586	$ 511,465
Debt - Related Party [Member]
Convertible Debentures		$ 150,000
Jan 2012 Debenture [Member]
Convertible Debentures			$ 142,668
Convertible Debentures- related parties (See Note64)				$ 162,668
Jan 2013 Debenture [Member]
Convertible Debentures
LOC Convertible Debenture [Member]
Convertible Debentures		$ 424,078	448,475
January2013DebentureMember
Convertible Debentures			$ 70,000

DEBENTURES - RELATED PARTIES 56

DEBENTURES - RELATED PARTIES (Details B) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Convertible Debentures	$ 629,192	$ 574,078
Debt Discount, net of accretion	(98,310)	(76,492)	$ (149,678)
Convertible Debentures- related parties (See Note64)	53,088,200	49,758,600
Less: Current portion	(150,108)	574,078	$ 661,143
Total	380,774	497,586
Jan 2015 Debt [Member]
Convertible Debentures	55,000
Debt [Member]
Convertible Debentures	150,000	150,000
Less: Current portion		150,000
LOC Convertible Debenture [Member]
Convertible Debentures	$ 424,192	424,078
Less: Current portion		$ 424,078	$ 448,475

DEBENTURES - RELATED PARTIES 57

DEBENTURES - RELATED PARTIES (Details Textual) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended		12 Months Ended
	Jan. 21, 2015	Aug. 11, 2014	Feb. 19, 2014	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2015	Aug. 12, 2015
Cash proceeds from debt issued					$ 5,000,000	$ 12,500,000	$ 150,000	$ 70,000
Convertible Debt				$ 53,088,200	53,088,200		49,758,600
Line of Credit Facility, Maximum Borrowing Capacity							1,500,000
Other Notes Payable, Current				48,000,000	48,000,000		37,000,000	370,000
Convertible Debt Related Party							497,586	511,465
Interest Expense, Debt				2,762,900	5,878,100		203,400	67,000
Line of Credit Facility, Remaining Borrowing Capacity				100,000,000	100,000,000		1,100,000
Jan 2012 Debenture [Member]
Minimum Proceeds From Debt To Convert Securities							$ 4,000,000
Debt Conversion Convertible Instrument Share Price							$ 0.40
Debt Conversion, Converted Instrument, Amount							$ 190,013		$ 12,000
Debt Instrument Interest Accrued									$ 435
Stock issued							475,032		16,580
Convertible Debt									$ 174,668
Long-term Line of Credit								142,668
Interest and Debt Expense, Total							$ 37,195
Beneficial conversion feature							$ 179,032	40,889
Other Notes Payable, Current								$ 20,000
Convertible Debt Related Party									$ 162,668
Dec 2013 Debenture [Member]
Debt Instrument, Interest Rate Increase								8.00%
Stock issued							1,900,000
Other Notes Payable, Current				11,000,000	$ 11,000,000			$ 350,000
January2013DebentureMember
Debt Conversion, Converted Instrument, Amount			$ 7,612,200
Cash proceeds from debt issued							$ 7,000,000	70,000
Stock issued			190,304
Interest and Debt Expense, Total			$ 1,696,500
Beneficial conversion feature							$ 1,865,100	18,651
January Fifteen 2013 LOC [Member]
Debt Conversion Convertible Instrument Share Price					$ 0.40		$ .40
Debt Conversion, Converted Instrument, Amount					$ 47,616,500		$ 476,165
Stock issued					1,190,411		1,190,411
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%		8.00%
Interest and Debt Expense, Total					$ 8,945,200		$ 89,452
Line of Credit Facility, Maximum Borrowing Capacity				100,000,000	100,000,000		1,000,000				$ 200,000,000
Line of credit facility borrowed					11,300		424,078
Beneficial conversion feature					415,400
Line of Credit, balance owed				42,419,200	42,419,200		424,078
Line of Credit Facility, Remaining Borrowing Capacity				$ 150,000,000	$ 150,000,000		$ 1,100,000
Jan 2013 Debenture [Member]
Other Notes Payable, Current
January 2013 Debenture [Member]
Other Notes Payable, Current							$ 37,000,000	$ 20,000
May 2013 Conv Debt [Member]
Convertible Debt										$ 50,000
Accrued interest							1,458
Interest Expense, Debt							8,017
February 2014 Debunture [Member]
Other Notes Payable, Current							$ 33,000,000
September 2014 Debenture [Member]
Debt Instrument, Interest Rate Increase				41.00%	41.00%		41.00%
Stock issued					230,000
Other Notes Payable, Current							$ 9,222,200
Line of Credit [Member]
Debt Conversion Convertible Instrument Share Price							$ 0.312	$ 0.312
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum							8.00%	8.00%
Line of credit increase to new limit		$ 150,000,000
Line of credit facility borrowed							$ 44,847,500	$ 448,475
Beneficial conversion feature							9,833,500	$ 98,335
Director [Member]
Cash proceeds from debt issued					$ 5,000,000		$ 50,000
Debt Instrument, Maturity Date					May 30, 2016		May 30, 2014
Debt Issuance Date					May 30, 2014		May 30, 2014
Debt Instrument, Interest Rate, Stated Percentage					8.00%		8.00%
Director 2 [Member]
Cash proceeds from debt issued					$ 2,500,000		$ 25,000
Debt Instrument, Maturity Date					Aug. 25, 2015		Aug. 25, 2014
Debt Issuance Date					Aug. 25, 2014		Aug. 25, 2014
Debt Instrument, Interest Rate, Stated Percentage					8.00%		8.00%
Chief Executive Officer [Member]
Cash proceeds from debt issued					$ 2,500,000		$ 25,000
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%
Debt Instrument, Maturity Date					Jan. 22, 2016		Jan. 22, 2014
Debt Issuance Date					Jan. 29, 2014		Jan. 29, 2014
Debt Instrument, Interest Rate, Stated Percentage					8.00%		8.00%
Chief Financial Officer [Member]
Cash proceeds from debt issued	$ 5,500,000				$ 5,000,000		$ 50,000
Debt Instrument, Maturity Date					Jun. 16, 2015		Jun. 16, 2014
Debt Issuance Date	Jan. 21, 2015				Jun. 17, 2014		Jun. 17, 2014
Debt Instrument, Interest Rate, Stated Percentage	8.00%				8.00%		8.00%
Chief Executive Officer [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 1,500,000

DEBENTURES - RELATED PARTIES 58

DEBENTURES - RELATED PARTIES (Details Textual B) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended		12 Months Ended
	Jan. 21, 2015	Aug. 11, 2014	Feb. 19, 2014	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Aug. 12, 2015
Cash proceeds from debt issued					$ 5,000,000	$ 12,500,000	$ 150,000	$ 70,000
Convertible Debt				$ 53,088,200	53,088,200		49,758,600
Line of Credit Facility, Maximum Borrowing Capacity							1,500,000
Other Notes Payable, Current				48,000,000	48,000,000		37,000,000	370,000
Convertible Debt Related Party							497,586	511,465
Interest Expense, Debt				2,762,900	5,878,100		203,400	$ 67,000
Line of Credit Facility, Remaining Borrowing Capacity				100,000,000	100,000,000		$ 1,100,000
Line of Credit [Member]
Debt Conversion Convertible Instrument Share Price							$ 0.312	$ 0.312
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum							8.00%	8.00%
Line of credit increase to new limit		$ 150,000,000
Line of credit facility borrowed							$ 44,847,500	$ 448,475
Beneficial conversion feature							9,833,500	$ 98,335
Chief Financial Officer [Member]
Cash proceeds from debt issued	$ 5,500,000				$ 5,000,000		$ 50,000
Debt Instrument, Maturity Date					Jun. 16, 2015		Jun. 16, 2014
Chief Executive Officer [Member]
Cash proceeds from debt issued					$ 2,500,000		$ 25,000
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%
Debt Instrument, Maturity Date					Jan. 22, 2016		Jan. 22, 2014
Director [Member]
Cash proceeds from debt issued					$ 5,000,000		$ 50,000
Debt Instrument, Maturity Date					May 30, 2016		May 30, 2014
Director 2 [Member]
Cash proceeds from debt issued					$ 2,500,000		$ 25,000
Debt Instrument, Maturity Date					Aug. 25, 2015		Aug. 25, 2014
Board of Directors 3 [Member]
Cash proceeds from debt issued					$ 2,500,000
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%
Debt Instrument, Maturity Date					Aug. 25, 2015
Board of Directors Chairman [Member]
Cash proceeds from debt issued					$ 5,000,000
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%
Debt Instrument, Maturity Date					May 30, 2016
Board of Directors 2 [Member]
Cash proceeds from debt issued					$ 5,000,000
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%
Debt Instrument, Maturity Date					Jun. 16, 2015
August 2014 Debenture [Member]
Other Notes Payable, Current				4,000,000	$ 4,000,000		$ 4,000,000
February 2014 Debenture [Member]
Other Notes Payable, Current				33,000,000	33,000,000		330,000
August 2014 Debenture Amend [Member]
Other Notes Payable, Current				3,000,000	$ 3,000,000
January2013DebentureMember
Debt Conversion, Converted Instrument, Amount			$ 7,612,200
Cash proceeds from debt issued							7,000,000	$ 70,000
Stock issued			190,304
Interest and Debt Expense, Total			$ 1,696,500
Beneficial conversion feature							$ 1,865,100	18,651
January Fifteen 2013 Line Of Credit [Member]
Debt Conversion Convertible Instrument Share Price					$ 0.40		$ .40
Debt Conversion, Converted Instrument, Amount					$ 47,616,500		$ 476,165
Stock issued					1,190,411		1,190,411
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum					8.00%		8.00%
Interest and Debt Expense, Total					$ 8,945,200		$ 89,452
Line of Credit Facility, Maximum Borrowing Capacity				100,000,000	100,000,000		1,000,000		$ 200,000,000
Line of credit facility borrowed					11,300		424,078
Beneficial conversion feature					415,400
Line of Credit, balance owed				42,419,200	42,419,200		424,078
Line of Credit Facility, Remaining Borrowing Capacity				150,000,000	$ 150,000,000		1,100,000
September 2014 Debenture [Member]
Stock issued					230,000
Other Notes Payable, Current							$ 9,222,200
Jan NonConv 2015 Debenture [Member]
Other Notes Payable, Current				11,000,000	$ 11,000,000
Jan 2015 Debenture [Member]
Stock issued							1,900,000
Other Notes Payable, Current				$ 11,000,000	$ 11,000,000			350,000
January 2013 Debenture [Member]
Other Notes Payable, Current							$ 37,000,000	$ 20,000
February 2014 Debunture [Member]
Other Notes Payable, Current							$ 33,000,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Notes Payable [Abstract]
Wages	$ 1,115,922	$ 791,987
Vacation	160,155	114,941
Total accrued compensation	$ 1,276,077	$ 906,928	$ 1,276,077	$ 395,667

RELATED PARTY TRANSACTIONS (D60

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Jun. 12, 2013	Dec. 31, 2014	Dec. 31, 2013
Proceeds from sale of stock			$ 134,639
President & CEO [Member]
Sale of common stock, shares	416,841
Sale of common stock, price per share	$ 0.323
Proceeds from sale of stock	$ 134,639

RELATED PARTY TRANSACTIONS (D61

RELATED PARTY TRANSACTIONS (Details Textual B) - USD ($)	1 Months Ended	6 Months Ended		12 Months Ended
	Jan. 21, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Notes Issued To Related Parties		$ 5,000,000	$ 12,500,000	$ 150,000	$ 70,000
Payment of accrued wages		$ 72,000
Chief Financial Officer [Member]
Debt Issuance Date	Jan. 21, 2015	Jun. 17, 2014		Jun. 17, 2014
Notes Issued To Related Parties	$ 5,500,000	$ 5,000,000		$ 50,000
Warrants issued	250,000
Debt Instrument, Interest Rate, Stated Percentage	8.00%	8.00%		8.00%
Debt Instrument, Maturity Date		Jun. 16, 2015		Jun. 16, 2014
Proceeds from non-convertible debenture	$ 50,000
Director 2 [Member]
Debt Issuance Date		Aug. 25, 2014		Aug. 25, 2014
Notes Issued To Related Parties		$ 2,500,000		$ 25,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%		8.00%
Debt Instrument, Maturity Date		Aug. 25, 2015		Aug. 25, 2014
Director [Member]
Debt Issuance Date		May 30, 2014		May 30, 2014
Notes Issued To Related Parties		$ 5,000,000		$ 50,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%		8.00%
Debt Instrument, Maturity Date		May 30, 2016		May 30, 2014
Chief Executive Officer [Member]
Debt Issuance Date		Jan. 29, 2014		Jan. 29, 2014
Notes Issued To Related Parties		$ 2,500,000		$ 25,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%		8.00%
Debt Instrument, Maturity Date		Jan. 22, 2016		Jan. 22, 2014
Board of Directors 3 [Member]
Notes Issued To Related Parties		$ 2,500,000
Debt Instrument, Maturity Date		Aug. 25, 2015
Board of Directors 2 [Member]
Notes Issued To Related Parties		$ 5,000,000
Debt Instrument, Maturity Date		Jun. 16, 2015
Board of Directors Chairman [Member]
Notes Issued To Related Parties		$ 5,000,000
Debt Instrument, Maturity Date		May 30, 2016
January2013DebentureMember
Notes Issued To Related Parties				$ 7,000,000	$ 70,000

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Expected life (in years)	6 years
Expected volatility, minimum	222.848%
Expected volatility, maximum	223.678%
Average risk free interest rate, minimum	1.80%
Average risk free interest rate, maximum	2.02%
Dividend yield	0.00%

SHAREHOLDERS' EQUITY (Details B

SHAREHOLDERS' EQUITY (Details B)	6 Months Ended
	Jun. 30, 2015
Expected life (in years)	6 years
Expected volatility	100.00%
Average risk free interest rate	1.54%
Dividend yield	0.00%
Employee Stock Option [Member]
Expected life (in years)	6 years
Expected volatility	219.31%
Average risk free interest rate	1.54%
Dividend yield	0.00%

SHAREHOLDERS' EQUITY (Details 1

SHAREHOLDERS' EQUITY (Details 1) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
Aggregate intrinsic value, Outstanding	$ 3,885		$ 0	$ 3,885
Employee Stock Option [Member]
Stock Options, Outstanding Beginning Balance			113,000	21,000
Granted	75,000	75,000	21,000	66,500
Options, Exercised
Options, Cancelled
Options, Forfeited
Stock Options, Outstanding Ending Balance	113,000		113,000	113,000
Options, Vested			134,000	87,500
Weighted average exercise price, Outstanding Beginning Balance			$ 0.37	$ 0.64
Weighted average exercise price, Granted			0.13	$ .34
Weighted average exercise price, Exercised
Weighted average exercise price, Cancelled
Weighted average exercise price, Forfeited
Weighted average exercise price, Outstanding Ending Balance	$ 0.37		0.37	$ 0.37
Weighted average exercise price, Vested	$ .42		$ 0.29	$ .42
Weighted average remaining contractual life (years), Outstanding			9 years 2 months 12 days	9 years 10 months 24 days
Weighted average remaining contractual life (years), Granted			9 years 7 months 6 days	9 years 7 months 6 days
Weighted average remaining contractual life (years), Vested			9 years 7 months 6 days	9 years 7 months 6 days
Aggregate intrinsic value, Outstanding	$ 388,500			$ 388,500
Aggregate intrinsic value, Vested	$ 388,500			$ 388,500

SHAREHOLDERS' EQUITY (Details65

SHAREHOLDERS' EQUITY (Details 1B) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
Aggregate intrinsic value, Outstanding	$ 3,885		$ 0	$ 3,885
Employee Stock Option [Member]
Stock Options, Outstanding Beginning Balance			113,000	21,000
Granted	75,000	75,000	21,000	66,500
Options, Exercised
Options, Cancelled
Options, Forfeited
Stock Options, Outstanding Ending Balance	113,000		113,000	113,000
Options, Vested			134,000	87,500
Weighted average exercise price, Outstanding Beginning Balance			$ 0.37	$ 0.64
Weighted average exercise price, Granted			0.13	$ .34
Weighted average exercise price, Exercised
Weighted average exercise price, Cancelled
Weighted average exercise price, Forfeited
Weighted average exercise price, Outstanding Ending Balance	$ 0.37		0.37	$ 0.37
Weighted average exercise price, Vested	$ .42		$ 0.29	$ .42
Weighted average remaining contractual life (years), Outstanding			9 years 2 months 12 days	9 years 10 months 24 days
Weighted average remaining contractual life (years), Granted			9 years 7 months 6 days	9 years 7 months 6 days
Weighted average remaining contractual life (years), Vested			9 years 7 months 6 days	9 years 7 months 6 days
Aggregate intrinsic value, Outstanding	$ 388,500			$ 388,500
Aggregate intrinsic value, Vested	$ 388,500			$ 388,500

SHAREHOLDERS' EQUITY (Details 2

SHAREHOLDERS' EQUITY (Details 2) - shares	1 Months Ended	6 Months Ended	12 Months Ended
	Feb. 15, 2013	Jun. 30, 2015	Dec. 31, 2014
Stock Unit 2 [Member]
Granted	6,000,000		75,000
Stock Unit [Member]
Granted	300,000		852,273
Stock Unit1 [Member]
Stock Units, Outstanding Beginning Balance		8,270,239	6,311,250
Granted		10,763,243	1,801,985
Stock Units, Expired
Stock Units, Cancelled
Stock Units, Forfeited
Stock Units, Outstanding Ending Balance		8,270,239	8,270,239
Stock Units, Vested		12,758,910	6,496,562

SHAREHOLDERS' EQUITY (Details67

SHAREHOLDERS' EQUITY (Details 2B) - shares	1 Months Ended	6 Months Ended	12 Months Ended
	Feb. 15, 2013	Jun. 30, 2015	Dec. 31, 2014
Stock Unit 2 [Member]
Granted	6,000,000		75,000
Stock Unit [Member]
Granted	300,000		852,273
Stock Unit1 [Member]
Stock Units, Outstanding Beginning Balance		8,270,239	6,311,250
Granted		10,763,243	1,801,985
Stock Units, Cancelled
Stock Units, Outstanding Ending Balance		8,270,239	8,270,239
Stock Units, Vested		12,758,910	6,496,562

SHAREHOLDERS' EQUITY (Details 3

SHAREHOLDERS' EQUITY (Details 3B)	6 Months Ended
	Jun. 30, 2015
Expected life (in years)	6 years
Expected volatility	100.00%
Average risk free interest rate	1.54%
Dividend yield	0.00%
Warrant [Member]
Expected life (in years)	6 years
Expected volatility	100.00%
Average risk free interest rate	1.54%
Dividend yield	0.00%

SHAREHOLDERS' EQUITY (Details 4

SHAREHOLDERS' EQUITY (Details 4B) - Warrant [Member]	6 Months Ended
	Jun. 30, 2015USD ($)
Value, January Debentures	$ 14,999,800
Value, February Debentures	7,629,900
Change in fair value	(4,792,900)
Ending balance	$ 17,836,800

SHAREHOLDERS' EQUITY (Details T

SHAREHOLDERS' EQUITY (Details Textual) - USD ($)	1 Months Ended	3 Months Ended					6 Months Ended		12 Months Ended
	Feb. 15, 2013	Jun. 30, 2015	Mar. 24, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Apr. 09, 2014	Sep. 18, 2013	Jan. 17, 2013
Common Stock, Shares Authorized		150,000,000					150,000,000		150,000,000	150,000,000
Common stock, par value		$ 0.001					$ 0.001		$ 0.001	$ 0.001
Quantity of Securities Issued									85,000
Share Based Compensation, Vested expense							$ 26,600	$ 82,500	$ 1,496,146,000
Share Based Compensation expenses, unvested expense									405,854,000
Share-based Compensation Expense		$ 121,554			$ 361,938		751,710	$ 926,164	$ 1,509,005,000	$ 2,254,898,000
Share-based Compensation, Total							19,450
Stock To Be Issued During Period For Services Value							$ 285,142
Investor Relations Agreement [Member]
Common Stock, Shares Authorized											300,000	690,000	250,000
Quantity of Securities Issued							600,000	300,000	690,000	50,000
Share Based Compensation, Shares, New Issues									1,195,000	450,000
Share Based Compensation, Vested expense				$ 1,000		$ 26,000	$ 187,500	$ 159,450	$ 358,000,000	$ 229,950,000
Investor Relations Agreement 2 [Member]
Quantity of Securities Issued									300,000
Consultant [Member]
Quantity of Securities Issued							200,000		200,000
Granted							100,000		100,000
Stock Issued During Period, Shares, Issued for Services							126,296		126,296
Stock To Be Issued During Period For Services Value							$ 55,521		$ 55,521
Consultant 2 [Member]
Granted									100,000
Stock Issued During Period, Shares, Issued for Services							85,000		343,907
Share-based Compensation, Total									$ 101,300,000
Stock To Be Issued During Period For Services Value							$ 37,900
Dillen [Member]
Granted							200,000		200,000
Share-based Compensation not yet vested							400,000		400,000
Share-based Compensation, Options, Outstanding		350,000					350,000		200,000
Stock Issued During Period, Shares, Issued for Services							600,000		600,000
Stock unit, vested during period									250,000
Share-based Compensation Expense							$ 75,932		$ 92,544,000
Debt Exchange 1 [Member]
Debt exchanged							$ 742,300		$ 742,300
Share conversion price							$ 0.40		$ 0.40
Stock issued							1,855,747		1,855,747
Debt Exchange 2 [Member]
Debt exchanged									$ 779,000,000
Stock issued							1,900,000		1,900,000
Dawson James [Member]
Investment Warrants, Exercise Price							$ 0.10		$ 0.10
Investment Warrants Expiration Date							Dec. 6, 2018		Dec. 6, 2018
Class of Warrant or Right, Outstanding		380,973					380,973		380,973
Compensation For Consulting Services		$ 50,000					$ 50,000		$ 50,000
Compensation For Consulting Services Rate		8.00%					8.00%		8.00%
Principal And Accrued Interest Of Warrant		$ 54,548					$ 54,548		$ 54,548
February 2014 Convertible Debenture [Member]
Granted							250,000		250,000
Investment Warrants, Exercise Price			$ .30				$ 0.50		$ .50
Investment Warrants Expiration Date							Feb. 13, 2019		Feb. 13, 2019
Equity Plan [Member]
Common Stock, Shares Authorized		10,000,000					10,000,000		10,000,000
Share-based Compensation, Options, Outstanding		62,000					62,000
Stock Issued During Period, Shares, Issued for Services							1,071,772		937,844
Available for future grant		459,489					459,489		678,917
Share Based Compensation, Shares, New Issues							21,000		92,000
Share-based Compensation Expense							$ 361,938
Class of Warrant or Right, Outstanding		123,500					123,500
Employee Stock Option [Member] | Equity Plan [Member]
Share-based Compensation, Options, Outstanding									113,000
Stock Units [Member] | Equity Plan [Member]
Share-based Compensation, Options, Outstanding									8,270,239
Stock Unit 2 [Member]
Granted	6,000,000								75,000
Share Based Compensation Options Vested In Period	2,000,000						500,000
Share-based Compensation not yet vested	4,000,000
Stock Issued During Period, Shares, Issued for Services	852,273
Stock unit, vested during period	5,500,000
Share-based Compensation Expense	$ 2,139,000,000	$ 210,000							$ 6,352,000
Stock Unit [Member]
Granted	300,000								852,273
Share Based Compensation Options Vested In Period	224,993						41,667
Stock unit, vested during period	183,326
Share-based Compensation Expense	$ 71,039,000						$ 11,667		$ 281,250,000
Stock Unit [Member] | Board of Directors Chairman [Member]
Granted							500,000		136,144
Share Based Compensation, Vested expense							$ 37,000
Share-based Compensation Expense							$ 1,184,250		$ 48,000,000

SHAREHOLDERS' EQUITY (Details71

SHAREHOLDERS' EQUITY (Details Textual B) - USD ($)	1 Months Ended		3 Months Ended						6 Months Ended		12 Months Ended
	Feb. 19, 2014	Feb. 15, 2013	Jun. 30, 2015	Mar. 24, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Apr. 09, 2014	Sep. 18, 2013	Jan. 17, 2013
Common Stock, Shares Authorized			150,000,000		150,000,000				150,000,000		150,000,000	150,000,000
Common stock, par value			$ 0.001		$ 0.001				$ 0.001		$ 0.001	$ 0.001
Share-based Goods and Non-employee Services Transaction, Quantity of Securities Issued											85,000
Stock Issuance Expenses									$ 26,600	$ 82,500	$ 1,496,146,000
Share-based Compensation Expense			$ 121,554				$ 361,938		$ 751,710	$ 926,164	1,509,005,000	$ 2,254,898,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value									$ 0.14
Share-based Compensation, Total									$ 19,450
Stock To Be Issued During Period For Services Value									285,142
Aggregate intrinsic value, Outstanding			0		$ 3,885				$ 0		3,885
Restricted stock, vested, expense			$ 120,983				$ 748,999
Debt Exchange 2 [Member]
Debt exchanged											$ 779,000,000
Stock issued									1,900,000		1,900,000
Debt Exchange 1 [Member]
Debt exchanged									$ 742,300		$ 742,300
Share conversion price									$ 0.40		$ 0.40
Stock issued									1,855,747		1,855,747
2013 Equity Plan [Member]
Common Stock, Shares Authorized			10,000,000		10,000,000				10,000,000		10,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			62,000						62,000
Stock Issued During Period, Shares, Issued for Services									1,071,772		937,844
Available for future grant			459,489		678,917				459,489		678,917
Stock Issued During Period, Shares, New Issues									21,000		92,000
Share-based Compensation Expense									$ 361,938
Employee stock option term									6 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value											$ 0.31
Class of Warrant or Right, Outstanding			123,500						123,500
Units outstanding			8,345,239						8,345,239
2014 Equity Plan [Member]
Common Stock, Shares Authorized			20,000,000						20,000,000
Stock Issued During Period, Shares, Issued for Services									10,390,000
Available for future grant			9,630,000						9,630,000
Units outstanding			10,390,000						10,390,000
Employee Stock Option [Member]
Granted					75,000	75,000			21,000		66,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			113,000		113,000				113,000		113,000	21,000
Share-based Compensation Expense						$ 27,750
Employee stock option term									9 years 2 months 12 days		9 years 10 months 24 days
Aggregate intrinsic value, Outstanding					$ 388,500						$ 388,500
Investor Relations Agreement [Member]
Common Stock, Shares Authorized													300,000	690,000	250,000
Share-based Goods and Non-employee Services Transaction, Quantity of Securities Issued									600,000	300,000	690,000	50,000
Stock Issued During Period, Shares, New Issues											1,195,000	450,000
Stock Issuance Expenses						$ 1,000		$ 26,000	$ 187,500	$ 159,450	$ 358,000,000	$ 229,950,000
Consultant [Member]
Share-based Goods and Non-employee Services Transaction, Quantity of Securities Issued									200,000		200,000
Granted									100,000		100,000
Stock Issued During Period, Shares, Issued for Services									126,296		126,296
Stock To Be Issued During Period For Services Value									$ 55,521		$ 55,521
Restricted stock issued									10,370,000
Restricted stock, vested, expense			$ 120,983						$ 614,916
Dillen [Member]
Granted									200,000		200,000
Share-based Compensation not yet vested									400,000		400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			350,000		200,000				350,000		200,000
Stock Issued During Period, Shares, Issued for Services									600,000		600,000
Stock unit, vested during period											250,000
Share-based Compensation Expense									$ 75,932		$ 92,544,000
Consultant 2 [Member]
Granted											100,000
Stock Issued During Period, Shares, Issued for Services									85,000		343,907
Share-based Compensation, Total											$ 101,300,000
Stock To Be Issued During Period For Services Value									$ 37,900
January2013DebentureMember
Stock issued	190,304
Jan 2014 Convertible Debenture [Member]
Granted									250,000		250,000
Investment Warrants, Exercise Price				$ .30					$ 0.50		$ .50
Investment Warrants Expiration Date									Feb. 13, 2019		Feb. 13, 2019
September 2014 Debenture [Member]
Stock issued									230,000
Dawson James [Member]
Investment Warrants, Exercise Price									$ 0.10		$ 0.10
Investment Warrants Expiration Date									Dec. 6, 2018		Dec. 6, 2018
Class of Warrant or Right, Outstanding			380,973		380,973				380,973		380,973
Compensation For Consulting Services			$ 50,000		$ 50,000				$ 50,000		$ 50,000
Compensation For Consulting Services Rate			8.00%		8.00%				8.00%		8.00%
Principal And Accrued Interest Of Warrant			$ 54,548		$ 54,548				$ 54,548		$ 54,548
January Fifteen 2013 Line Of Credit [Member]
Stock issued									1,190,411		1,190,411
Stock Unit [Member]
Granted		300,000									852,273
Share Based Compensation Arrangement by Share Based Payment Award Options Vested In Period		224,993							41,667
Stock unit, vested during period		183,326
Share-based Compensation Expense		$ 71,039,000							$ 11,667		$ 281,250,000
Stock Unit [Member] | BoardComp [Member]
Granted			85,714						171,428
Stock Issuance Expenses			$ 12,000						$ 24,000
Stock Unit [Member] | Board of Directors Chairman [Member]
Granted									500,000		136,144
Stock Issuance Expenses									$ 37,000
Share-based Compensation Expense									$ 1,184,250		$ 48,000,000
Stock Unit 2 [Member]
Granted		6,000,000									75,000
Share Based Compensation Arrangement by Share Based Payment Award Options Vested In Period		2,000,000							500,000
Share-based Compensation not yet vested		4,000,000
Stock Issued During Period, Shares, Issued for Services		852,273
Stock unit, vested during period		5,500,000
Share-based Compensation Expense		$ 2,139,000,000	$ 210,000								$ 6,352,000
Stock Unit1 [Member]
Granted									10,763,243		1,801,985

NON CASH FINANCING ACTIVITIES (

NON CASH FINANCING ACTIVITIES (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 24, 2013	Dec. 31, 2014	Dec. 31, 2013
Semprae Laboratories Inc [Member]
Stock Issued During Period Shares Issued For Asset Purchase	3,201,776
Convertible Debt [Member]
Stock issued		1,855,747
Apricus Bio Convertible Promissory Note [Member]
Stock issued			83,103
Vesele [Member]
Stock Issued During Period Shares Issued For Asset Purchase		40,000
Common Stock [Member]
Stock issued		1,900,000
Shares Issued, conversion of debt, value of shares		$ 779,000
Stock Issued During Period Shares Issued For Asset Purchase			631,313
Stock Issued During Period Value Issued For Asset Purchase			$ 250,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Net operating loss carry-forwards	$ 2,218,000	$ 1,165,000
Equity based instruments	1,515,000	877,000
Deferred compensation	361,000	155,000
Intangibles	173,000	70,000
Warrants	759,000	745,000
Other	46,000	80,000
Less: Valuation allowance	$ (5,072,000)	$ (3,092,000)
Net deferred tax assets

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Expected federal tax	34.00%	34.00%
State tax (net of federal benefit)	6.13%	5.80%
Other	0.89%	(0.10%)
Valuation allowance	(41.02%)	(39.70%)
Total

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards, Federal	$ 5,698,000
Operating Loss Carryforwards, State	$ 4,803,000
Operating Loss Carryforwards, Limitations on Use	through 2,032
Net Operating Loss Carryforwards Federal And State	$ 19,482,000
Net Operating Loss Carryforwards Federal and State Usable per year	44,000
Net Operating Loss Carryforwards Federal And State Outstanding Balance	888,000
Valuation allowance	5,072,000	$ 3,092,000
Change in Valuation allowance	$ 1,980,000

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 24, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Proceeds from issuance of note		$ 100,000	$ 300,000	$ 340,000	$ 350,000
Stock issuable	25,895,312
Revenue benchmark	$ 5,000,000
Earnout payment	$ 500,000		$ 4,886,655	$ 324,379	$ 308,273
Stock units issued	10,370,000
Stock units vested	3,456,666
Stock units, unvested	6,913,333
Maximum [Member]
Earnout payment	$ 2,500,000
Jan 2015 Debt [Member]
Face amount, notes	$ 165,000
Warrants issued	75,000
Proceeds from issuance of note	$ 150,000
Interest charge at issuance	8.00%
Warrant exercise price	$ .30