EMI Holding 10-Q 20 May 16 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	May. 20, 2016
Document And Entity Information
Entity Registrant Name	EMMAUS LIFE SCIENCES, INC.
Entity Central Index Key	1,420,031
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		28,563,478
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 482,767	$ 556,318
Accounts receivable	23,311	42,734
Inventories, net	294,582	250,413
Marketable securities	47,889	79,236
Marketable securities, pledged to creditor	190,755
Prepaid expenses and other current assets	173,591	129,554
Total current assets	1,212,895	1,058,255
PROPERTY AND EQUIPMENT, Net	61,255	72,391
OTHER ASSETS
Marketable securities, pledged to creditor		334,410
Intangibles, net	732,143	892,857
Deposits	277,612	306,379
Total other assets	1,009,755	1,533,646
Total Assets	2,283,905	2,664,292
CURRENT LIABILITIES
Accounts payable and accrued expenses	3,157,072	2,601,420
Due to related party		394,446
Notes payable, net	4,677,350	1,643,615
Notes payable to related parties, net	2,466,304	825,562
Convertible notes payable, net	3,815,541	3,456,959
Convertible notes payable to related parties, net	498,000	373,000
Total current liabilities	14,614,267	9,295,002
LONG-TERM LIABILITIES
Deferred rent	61,844	3,729
Liability classified warrants		3,206,000
Warrant derivative liabilities	$ 7,570,000	6,520,000
Notes payable, net		833,335
Notes payable to related parties, net		133,333
Convertible notes payable, net	$ 4,967,373	3,651,555
Convertible notes payable to related parties, net	100,000	200,000
Total long-term liabilities	12,699,217	14,547,952
Total Liabilities	$ 27,313,484	$ 23,842,954
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT
Preferred stock - par value $0.001 per share, 20,000,000 shares authorized, none issued and outstanding
Common stock - par value $0.001 per share, 100,000,000 shares authorized, 28,128,403 and 30,511,573 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	$ 28,128	$ 30,512
Additional paid-in capital	55,760,198	51,068,677
Accumulated other comprehensive loss	(390,465)	(194,015)
Accumulated deficit	(80,427,440)	(72,083,836)
Total Stockholders' Deficit	(25,029,579)	(21,178,662)
Total Liabilities & Stockholders' Deficit	$ 2,283,905	$ 2,664,292

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Principal Outstanding, Current
Preferred stock, par (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	28,128,403	30,511,573
Common stock, shares outstanding	28,128,403	30,511,573

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
REVENUES, Net	$ 77,173	$ 155,644	$ 318,268	$ 347,737
COST OF GOODS SOLD	36,854	90,421	150,513	198,203
GROSS PROFIT	40,319	65,223	167,755	149,534
OPERATING EXPENSES
Research and development	465,455	507,377	1,012,580	1,708,766
Selling	80,758	115,060	326,280	363,874
General and administrative	2,170,963	2,667,826	7,383,842	9,762,734
Operating Expenses	2,717,176	3,290,263	8,722,702	11,835,374
LOSS FROM OPERATIONS	(2,676,857)	(3,225,040)	(8,554,947)	(11,685,840)
OTHER INCOME (EXPENSE)
Gain on derecognition of amounts due to related party and settlement of litigation			418,366
Change in fair value of liability classified warrants		92,000	661,000	(2,259,744)
Change in fair value of warrant derivative liabilities	173,000		1,495,000
Warrant exercise inducement expense				(3,523,000)
Interest and other income (loss)	(10,933)	97,370	71,248	74,204
Interest expense	(929,572)	(591,494)	(2,432,071)	(1,562,417)
Nonoperating Income Expense	(767,505)	(402,124)	213,543	(7,270,957)
LOSS BEFORE INCOME TAXES	(3,444,362)	(3,627,164)	(8,341,404)	(18,956,797)
INCOME TAXES			2,200	2,500
NET LOSS	(3,444,362)	(3,627,164)	(8,343,604)	(18,959,297)
COMPONENTS OF OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized holding gain (loss) on securities available-for-sale	(56,576)	(80,593)	(198,921)	(374,806)
Unrealized foreign currency translation	4,446	(5,006)	2,471	(5,681)
Other Comprehensive Income (Loss)	(52,130)	(85,599)	(196,450)	(380,487)
COMPREHENSIVE LOSS	$ (3,496,492)	$ (3,712,763)	$ (8,540,055)	$ (19,339,784)
NET LOSS PER COMMON SHARE	$ (0.12)	$ (0.12)	$ (0.29)	$ (0.64)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares)	28,124,375	30,303,396	29,231,370	29,637,402

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT (UNAUDITED) - 9 months ended Sep. 30, 2015 - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
Balance, beginning at Dec. 31, 2014	$ 30,512	$ 51,068,677	$ (194,015)	$ (72,083,836)	$ (21,178,662)
Balance, beginning (in shares) at Dec. 31, 2014	30,511,573
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Warrant issued in conjunction with convertible notes		220,071			220,071
Proceeds from exercise of warrants	$ 113	102,772			102,885
Proceeds from exercise of warrants (in shares)	113,181
Conversion of notes payable to common stock	$ 5	17,995			18,000
Conversion of notes payable to common stock, shares	5,898
Beneficial conversion feature relating to convertible and promissory notes payable		1,380,153			1,380,153
Share-based compensation		2,968,028			2,968,028
Exercise of common stock options (cashless)	$ 2	(2)
Exercise of common stock options (cashless), shares	2,000
Stock cancelled	$ (2,504)	2,504
Stock cancelled (in shares)	(2,504,249)
Unrealized loss on marketable securities, net of tax			(198,921)		(198,921)
Foreign currency translation effect			2,471		2,471
Net loss				(8,343,604)	(8,343,604)
Balance, ending at Sep. 30, 2015	$ 28,128	$ 55,760,198	$ (390,465)	$ (80,427,440)	$ (25,029,579)
Balance, ending (in shares) at Sep. 30, 2015	28,128,403

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (8,343,604)	$ (18,959,297)
Adjustments to reconcile net loss to net cash flows used in operating activities
Depreciation and amortization	175,897	172,713
Interest expense accrued from discount of convertible notes	1,278,364	680,994
Foreign exchange adjustments on convertible notes and notes payable	24,111	(54,919)
Gain on settlement of litigation	(418,366)
Share-based compensation	2,968,028	5,171,766
Warrant exercise inducement expense		3,523,000
Change in fair value of liability classified warrants	(661,000)	2,259,744
Change in fair value of warrant derivative liabilities	(1,495,000)
Net changes in operating assets and liabilities
Accounts receivable	19,605	(19,241)
Inventories	(43,366)	14,657
Prepaid expenses and other current assets	(40,977)	(66,992)
Deposits	29,136	(338)
Accounts payable and accrued expenses	976,221	11,360
Deferred rent	58,095
Net cash flows used in operating activities	(5,472,856)	(7,266,553)
CASH FLOWS USED IN INVESTING ACTIVITIES
Purchases of property and equipment	(3,953)	(25,775)
Net cash flows used in investing activities	(3,953)	(25,775)
CASH FLOWS FROM FINANCING ACTIVITIES
Due to dissenters		(125,000)
Repurchase of common stock		(377,500)
Proceeds from notes payable issued	3,935,566
Proceeds from convertible notes payable issued	1,893,343	1,720,000
Payments of notes payable	(250,000)
Payments of convertible notes	(279,800)	(138,744)
Proceeds from exercise of warrants	102,885	4,217,078
Net cash flows from financing activities	5,401,994	5,295,834
Effect of exchange rate changes on cash	1,264	(1,574)
Net decrease in cash and cash equivalents	(73,551)	(1,998,068)
Cash and cash equivalents, beginning of period	556,318	3,638,600
Cash and cash equivalents, end of period	482,767	1,640,532
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES
Interest paid	253,223	322,445
Income taxes paid	2,200	2,500
SUPPLEMENTAL DISCLOSURES OF NON-CASH INFORMATION
Conversion of notes payable to common stock	18,000	1,404,552
Conversion of accrued interest payable to common stock		$ 93,827
Derecognition of amounts due to related party from settlement of litigation	394,446
Acquisition of marketable securities from settlement of litigation	$ 23,920

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 — BASIS OF PRESENTATION The accompanying unaudited consolidated interim financial statements of Emmaus Life Sciences, Inc. and subsidiaries (the “Company” or “Emmaus”) The preparation of the consolidated financial statements requires the use of management estimates. Actual results could differ materially from those estimates. Correction of immaterial errors Further, during the preparation and filing of its financial statements for the three months ended March 31, 2015, the Company identified and disclosed an immaterial error relating to certain warrant derivative liability instruments for its financial statements as of and for the years ended December 31, 2013 and 2014 as well as the interim periods of September 30, 2013 and 2014. This prior period error involved not recording a warrant for the purchase of 300,000 shares of the common stock of the Company issued to a certain broker as compensation for services rendered in a private placement transaction during 2013. These purchase warrants were deemed to be a derivative liability instrument and had an initial fair value of $681,000 on the date of transaction of which $62,000 needed to be allocated to additional paid in capital and $619,000 charged as transaction costs. Accordingly, the Company did not account for the changes in the fair value of these warrants in periods subsequent to their issuance. This immaterial error was then corrected by adjusting the prior-period information in the financial statements as of and for the three months ended March 31, 2015. Pursuant to the guidance of Staff Accounting Bulletin (“SAB”) No. 99, Materiality, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements A reconciliation of the effects of the adjustments to the previously reported consolidated balance sheet at September 30, 2014 follows: As Previously Adjustment As Revised As of September 30, 2014 Liability classified warrants 9,594,000 953,000 10,547,000 Total liabilities 23,616,020 953,000 24,569,020 Additional paid in capital 47,772,911 688,003 48,460,914 Accumulated deficit (67,643,816 ) (1,641,003 ) (69,284,819 ) Total stockholder’s deficit (19,958,319 ) (953,000 ) (20,911,319 ) A reconciliation of the effect of the adjustments to the previously reported consolidated statement of comprehensive loss for the three and nine months ended September 30, 2014 follows: As Previously Adjustment As Revised As Previously Adjustment As Revised For Three Months Ended September 30, 2014 For Nine Months Ended September 30, 2014 General and administrative 2,759,098 (91,272 ) 2,667,826 9,012,391 750,343 9,762,734 Loss from operations (3,316,312 ) 91,272 (3,225,040 ) (10,935,497 ) (750,343 ) (11,685,840 ) Change in fair value of liability classified warrants 84,000 8,000 92,000 (1,895,744 ) (364,000 ) (2,259,744 ) Loss before income taxes (3,726,437 ) 99,272 (3,627,165 ) (17,842,454 ) (1,114,343 ) (18,956,797 ) A reconciliation of the effect of the adjustments to the previously reported consolidated statements of cash flows for the three and nine months ended September 30, 2014 follows: As Previously Adjustment As Revised As Previously Adjustment As Revised For Three Months Ended September 30, 2014 For Nine Months Ended September 30, 2014 Net loss (3,726,437 ) 99,272 (3,627,165 ) (17,844,954 ) (1,114,343 ) (18,959,297 ) Share-based compensation 1,443,794 (91,272 ) 1,352,522 4,421,423 750,343 5,171,766 Change in fair value of liability classified warrants (84,000 ) (8,000 ) (92,000 ) 1,895,744 364,000 2,259,744

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Refer to the Company’s Annual Report for a summary of significant accounting policies. There have been no material changes to our significant accounting policies during the nine months ended September 30, 2015. Below are disclosures of certain interim balances, transactions, and significant assumptions used in computing fair value as of and for the nine months ended September 30, 2015 and comparative amounts from the prior fiscal periods: Inventories — Inventory by category September 30, 2015 December 31, 2014 Raw materials and components $ — $ 43,700 Work-in-process 160,994 27,665 Finished goods 133,588 179,048 $ 294,582 $ 250,413 Advertising cost — Marketable securities — As of September 30, 2015, 9,300 shares of CellSeed stock and 150,000 shares of Targeted Medical are classified as current assets, as they are available for sale by the Company. The remaining 39,250 shares of CellSeed stock are pledged to secure a Prepaid expenses and other current assets September 30, 2015 December 31, 2014 Prepaid insurance $ 99,569 $ 86,061 Other prepaid expenses and current assets 74,022 43,493 $ 173,591 $ 129,554 Fair value measurements Period ended Liability Classified Warrants—Stock Purchase Warrants September 30, 2015 December 31, 2014 Balance, beginning of period $ 3,206,000 $ 6,517,000 Fair value at issuance date — 3,523,000 Settlement of liability associated with warrants exercised — (1,752,744 ) Reclassification to warrant derivative liabilities (2,545,000 ) (7,068,000 ) Reduction of the warrants exercised to intrinsic value included in the statement of comprehensive loss — (1,770,256 ) Change in fair value included in the statement of comprehensive loss (661,000 ) 3,757,000 Balance, end of period $ — $ 3,206,000 Period ended Warrant Derivative Liabilities—Stock Purchase Warrants September 30, 2015 December 31, 2014 Balance, beginning of period $ 6,520,000 $ — Reclassification from liability classified warrants 2,545,000 7,068,000 Change in fair value included in the statement of comprehensive loss (1,495,000 ) (548,000 ) Balance, end of period $ 7,570,000 $ 6,520,000 The value of the liability classified warrants , the value of warrant derivative liability and the change in fair value of the liability classified warrants and warrant derivative liability were determined using a Binomial Monte-Carlo Cliquet (aka Ratchet) Option Pricing Model. The model is similar to traditional Black-Scholes-type option pricing models except that the exercise price resets at certain dates in the future. T September 30, December 31, December 31, Initial Stock price $ 4.50 $ 4.90 $ 3.60 $ 3.60 Risk-free interest rate 0.91 % 1.38 % 1.75 % 1.72 % Expected volatility (peer group) 65.10 % 71.50 % 63.20 % 72.40 % Expected life (in years) 2.95 3.70 4.70 5.00 Expected dividend yield — — — — Number outstanding 3,320,501 3,320,501 3,320,501 3,320,501 Balance, end of period: Liability classified warrants $ — $ 3,206,000 $ 6,517,000 $ 7,541,000 Warrant derivative liabilities $ 7,570,000 $ 6,520,000 $ — $ — Debt and related party debt Type of Loan Term of Stated Original Conversion Beneficial Warrants Exercise Warrant Effective 2014 convertible notes payable 6 mo. ~ 2 years 10 % $ 3,096,266 $3.05 ~ $3.60 $ 1,392,387 50,000 $ 3.50 $ 126,732 28 % ~ 100% 2015 convertible notes payable Due on demand ~ 2 years 10 % 3,869,951 $3.50 ~ $4.50 1,380,153 110,417 $ 4.90 220,071 19 % ~ 109% Total $ 6,966,217 $ 2,772,540 160,417 $ 346,803 Related party notes are disclosed as separate line items in the Company’s balance sheet presentation. Net loss per share Recent accounting pronouncements Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In July 2015, FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 3 — PROPERTY AND EQUIPMENT Property and equipment consisted of the following at: September 30, 2015 December 31, 2014 Equipment $ 164,198 $ 160,201 Leasehold improvements 30,670 30,579 Furniture and fixtures 74,714 74,683 Sub total 269,582 265,463 Less: accumulated depreciation (208,327 ) (193,072 ) Total $ 61,255 $ 72,391 During the three months ended September 30, 2015 and 2014, depreciation expense was $4,210 and $3,930, respectively. During the nine months ended September 30, 2015 and 2014, depreciation expense was $15,182 and $11,999, respectively.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 4 — INTANGIBLE ASSETS Intangible assets, related to license fees and patent filing costs associated with September 30, 2015 December 31, 2014 License fees and patent filing costs $ 2,000,000 $ 2,000,000 Less: accumulated amortization (1,267,857 ) (1,107,143 ) Total $ 732,143 $ 892,857 During the three months ended September 30, 2015 and 2014, amortization expense was $53,571 for each period. During the nine months ended September 30, 2015 and 2014, amortization expense was $160,714 for each period. As of September 30, 2015 estimated aggregate amortization expense for the next five years is as follows: Periods ending December 31, Amount 2015 $ 53,572 2016 214,286 2017 214,286 2018 214,286 2019 35,713 Total $ 732,143

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Sep. 30, 2015
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 5 — ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following at: September 30, 2015 December 31, 2014 Accounts payable Clinical and regulatory expenses $ 254,453 $ 266,537 Legal expenses 167,254 176,691 Other vendors 765,485 774,444 Subtotal 1,187,192 1,217,672 Accrued interest payable, related parties 181,654 110,200 Accrued interest payable 1,179,823 761,682 Accrued expenses 301,736 220,200 Deferred salary 306,667 291,666 Total accounts payable and accrued expenses $ 3,157,072 $ 2,601,420

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 6 — NOTES PAYABLE Notes payable consisted of the following at September 30, 2015 and December 31, 2014: Year Interest Term of Notes Conversion Principal Discount Carrying Shares Principal Discount Carrying Amount Shares Notes payable 2013 10% Due on demand — $ 840,000 $ — $ 840,000 — $ 1,030,000 $ — $ 1,030,000 — 2014 11% Due on demand ~ 2 years — 1,446,950 — 1,446,950 — 1,446,950 — 1,446,950 — 2015 11% Due on demand ~ 2 years — 2,390,400 — 2,390,400 — — — — — $ 4,677,350 $ — $ 4,677,350 — $ 2,476,950 $ — $ 2,476,950 — Current $ 4,677,350 $ — $ 4,677,350 — $ 1,643,615 $ — $ 1,643,615 — Long-term $ — $ — $ — — $ 833,335 $ — $ 833,335 — Notes payable - related party 2012 8% ~ 10% Due on demand — $ 626,730 $ — $ 626,730 — $ 656,730 $ — $ 656,730 — 2013 8% Due on demand — 50,000 — 50,000 — 50,000 — 50,000 — 2014 11% Due on demand ~ 2 years — 240,308 — 240,308 — 252,165 — 252,165 — 2015 10% ~ 11% Due on demand ~ 2 years — 1,549,266 — 1,549,266 — — — — — $ 2,466,304 $ — $ 2,466,304 — $ 958,895 $ — $ 958,895 — Current $ 2,466,304 $ — $ 2,466,304 — $ 825,562 $ — $ 825,562 — Long-term $ — $ — $ — — $ 133,333 $ — $ 133,333 — Convertible notes payable 2010 6% 5 years $3.05 $ 2,000 $ — $ 2,000 656 $ 74,000 $ 3,195 $ 70,805 24,248 2011 10% 5 years $3.05 500,000 — 500,000 163,809 500,000 — 500,000 163,809 2013 10% 2 years $3.60 525,257 — 525,257 181,875 2,463,299 18,750 2,444,549 834,667 2014 10% Due on demand ~ 2 years $3.05~$7.00 4,176,123 477,941 3,698,182 1,064,382 4,939,773 846,613 4,093,160 1,241,241 2015 10% Due on demand ~ 2 years $3.50~$7.00 4,769,951 712,476 4,057,475 1,280,362 — — — — $ 9,973,331 $ 1,190,417 $ 8,782,914 2,691,084 $ 7,977,072 $ 868,558 $ 7,108,514 2,263,965 Current $ 3,919,313 $ 103,772 $ 3,815,541 1,014,855 $ 3,478,904 $ 21,945 $ 3,456,959 1,156,050 Long-term $ 6,054,018 $ 1,086,645 $ 4,967,373 1,676,229 $ 4,498,168 $ 846,613 $ 3,651,555 1,107,915 Convertible notes payable - related party 2012 10% Due on demand $3.30 $ 298,000 $ — $ 298,000 106,229 $ 373,000 $ — $ 373,000 121,461 2014 10% 2 years $7.00 200,000 — 200,000 32,324 200,000 — 200,000 30,187 2015 10% 2 years $4.50 100,000 — 100,000 22,234 — — — — $ 598,000 $ — $ 598,000 160,787 $ 573,000 $ — $ 573,000 151,648 Current $ 498,000 $ — $ 498,000 138,553 $ 373,000 $ — $ 373,000 121,461 Long-term $ 100,000 $ — $ 100,000 22,234 $ 200,000 $ — $ 200,000 30,187 Grand Total $ 17,714,985 $ 1,190,417 $ 16,524,568 2,851,871 $ 11,985,917 $ 868,558 $ 11,117,359 2,415,613 The average stated interest rate of notes payable for the nine-month period ended September 30, 2015 and the annual period ended December 31, 2014 was 10%. The average effective interest rate of notes payable for the nine-month period ended September 30, 2015 and the annual period ended December 31, 2014 was 24% and 23%, respectively, after giving effect to discounts relating to beneficial conversion features and the fair value of warrants issued in connection with these notes. The notes payable and convertible notes payable do not have restrictive financial covenants or acceleration clauses associated with a material adverse change event. The holders of the convertible notes have the option to convert their notes into the Company’s common stock at the stated conversion price during the term of their convertible notes. Conversion prices on these convertible notes payable range from $3.05 to $3.60 per share. Certain notes with a $4.50 or a $7.00 stated conversion price in the second year of their two year term are subject to automatic conversion into shares of our common stock at a conversion price equal to 80% of the initial public offering price at the time of a qualified public offering. All due on demand notes are treated as current liabilities. Contractual principal payments due on notes payable are as follows: Year Ending at September 30, 2015 2015 $ 7,999,560 2016 5,798,352 2017 3,917,073 Total $ 17,714,985 The Company estimated the total fair value of any beneficial conversion feature and accompanying warrants in allocating the debt proceeds. The proceeds allocated to the beneficial conversion feature were determined by taking the estimated fair value of shares issuable under the convertible notes less the fair value of the number of shares that would be issued if the conversion rate equaled the fair value of the Company’s common stock as of the date of issuance (see Note 2). The fair value of the warrants issued in conjunction with notes was determined using the Black Scholes Merton option pricing model with the following inputs for the periods ended: September 30, 2015 December 31, 2014 Stock price $ 4.50 $ 4.90 Exercise price $ 4.90 $ 3.50 Term 5 years 5 years Risk-free interest rate 1.57 % 1.66 % Expected dividend yield — — Expected volatility 67.30 % 70.10 % In situations where the debt included both a beneficial conversion feature and a warrant, the proceeds were allocated to the warrants and beneficial conversion feature based on their respective pro-rata fair values.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' DEFICIT	NOTE 7 — STOCKHOLDERS’ DEFICIT Private placement — The warrants issued in the Private Placement and the Broker Warrants entitle the holders thereof to purchase, at any time on or prior to September 11, 2018, shares of common stock of the Company at an exercise price of $3.50 per share. The warrants contain non-standard anti-dilution protection and, consequently, are being accounted for as liabilities, were originally recorded at fair value, and are adjusted to fair market value each reporting period. Because the shares of common stock underlying the Private Placement warrants and Broker Warrants were not effectively registered for resale by September 11, 2014, the warrant holders have an option to exercise the warrants using a cashless exercise feature. The shares have not been registered for resale as of September 30, 2015. The availability to warrant holders of the cashless exercise feature as of September 11, 2014 caused the then-outstanding 2,225,036 Private Placement warrants and Broker Warrants with fair value of $7,068,000 to be reclassified from liability classified warrants to warrant derivative liabilities and to continue to be remeasured at fair value each reporting period. On June 10, 2014, certain warrant holders exercised 1,095,465 warrants issued in the Private Placement for the exercise price of $3.50 per share, resulting in the Company receiving aggregate exercise proceeds of $3.8 million and issuing 1,095,465 shares of common stock. Prior to exercise, these Private Placement warrants were accounted for at fair value as liability classified warrants. As of June 10, 2014, immediately prior to exercise, the carrying value of these Private Placement warrants was reduced to their fair value immediately prior to exercise of $1.8 million, representing their intrinsic value, with this adjusted carrying value of $1.8 million being transferred to additional paid-in capital. Also on June 10, 2014, based on an offer made to holders of Private Placement warrants in connection with such exercises, the Company issued an aggregate of 1,095,465 replacement warrants to holders exercising Private Placement warrants, which replacement warrants have terms that are generally the same as the exercised warrants, including an expiration date of September 11, 2018 and an exercise price of $3.50 per share. The replacement warrants are treated for accounting purposes as liability classified warrants, and their issuance gave rise to a $3.5 million warrant exercise inducement expense based on their fair value as of issuance as determined using a Binomial Monte-Carlo Cliquet (aka Ratchet) Option Pricing Model. As of September 30, 2015, the fair value of these Private Placement warrants, replacement warrants, and Broker Warrants was $7,570,000 (see Note 2). For further details regarding registration rights associated with the Private Placement warrants, replacement warrants and Broker Warrants, see the Registration Rights section below in this footnote. Stock warrants — Warrant exercises and issuance A summary of outstanding warrants as of Nine months ended Year ended Warrants outstanding, beginning of period 5,101,450 6,279,296 Granted 110,417 1,145,465 Exercised (113,181 ) (1,254,621 ) Cancelled, forfeited or expired (1,458,933 ) (1,068,690 ) Warrants outstanding, end of period 3,639,753 5,101,450 A summary of outstanding warrants by year issued and exercise price as of Outstanding Weighted Average Exercisable Exercise Price Number of Remaining Weighted Total Weighted Balance 2012 $3.05 108,835 0.12 $ 3.05 108,835 $ 3.05 2012 total 108,835 108,835 During 2013 $3.30 50,000 2.59 $ 3.30 50,000 $ 3.30 $3.50 2,225,036 2.95 $ 3.50 2,225,036 $ 3.50 2013 total 2,275,036 2,275,036 During 2014 $3.50 1,145,465 2.98 $ 3.50 1,145,465 $ 3.50 2014 total 1,145,465 1,145,465 During 2015 $4.90 110,417 4.43 $ 4.90 110,417 $ 4.90 Total 3,639,753 3,639,753 Stock options A summary of outstanding options as of September 30, 2015 is Current Plan Prior Plan September 30, 2015 December 31, 2014 Number Weighted- Number of Weighted- Number of Weighted- Options outstanding, beginning of period 11,795 $ 3.05 5,669,000 $ 3.68 4,504,000 $ 3.58 Granted or deemed issued — — — — 1,180,000 $ 4.06 Exercised — — (2,000 ) $ 3.60 — — Cancelled, forfeited and expired (11,795 ) $ 3.05 (846,999 ) $ 3.97 (15,000 ) $ 3.60 Options outstanding, end of period — 4,820,001 $ 3.63 5,669,000 $ 3.68 Options exercisable, end of period — 4,172,890 $ 3.61 2,855,251 $ 3.55 Options available for future grant, end of period — 4,179,999 3,331,000 The weighted average grant-date fair value of options granted or deemed issued during the nine months ended September 30, 2014 was $2.58. The weighted average grant-date fair value of common shares underlying stock options granted or deemed issued during the nine months ended September 30, 2014 was $4.06. No options were issued during the nine months ended September 30, 2015. During the three months ended September 30, 2015 and 2014, the Company recognized $0.8 million and $1.4 million, respectively, of share-based compensation cost arising from stock options. During the nine months ended September 30, 2015 and 2014, the Company recognized $3.0 million and $5.2 million, respectively, of share-based compensation cost arising from stock options. As of September 30, 2015, there was $1.6 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the 2011 Stock Incentive Plan. That cost is expected to be recognized over the weighted average remaining period of 0.8 years. Registration rights — If the shares of common stock underlying warrants to purchase 2,225,036 shares are not registered for resale at the time of exercise or if the shares of common stock underlying warrants to purchase 1,095,465 shares are not registered for resale at the time of exercise, and in each such case the registration rights described above then apply with respect to the holder of such warrants, such holder may exercise such warrants on a cashless basis. In such a cashless exercise of all the shares covered by the warrant, the warrant holder would receive a number of shares equal to the quotient of (i) the difference between the fair market value of the common stock, as defined, and the $3.50 exercise price, as adjusted, multiplied by the number of shares exercisable under the warrant, divided by (ii) the fair market value of the common stock, as defined. As of September 30, 2015, based on a fair market value of a share of the Company’s common stock of $4.50 and 3,320,501 warrants issued and outstanding and eligible for cashless exercise, the maximum number of shares the Company would be required to issue, if the warrant holders elected to exercise the cashless exercise feature with respect to all then eligible warrants, is 737,889 shares. If the fair market value of a share of the Company’s common stock were to increase by $1.00 from $4.50 to $5.50, the maximum number of shares the Company would be required to issue, if the warrant holders elected to exercise the cashless exercise feature with respect to all then eligible warrants, would increase to 1,207,455 shares as of September 30, 2015. The Company has not yet filed a registration statement with respect to the resale of the Registrable Securities because doing so is not feasible prior to the completion by the Company of its initial public offering. As previously reported, the Company has filed a draft registration statement with the SEC with respect to its proposed initial public offering. The Company believes that it has used commercially reasonable efforts to pursue an initial public offering and, accordingly, considers itself to be in compliance with its registration rights obligations notwithstanding that it has not filed a registration statement with respect to the resale of the Registrable Securities and the deadline for doing so has passed without extension.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 — COMMITMENTS AND CONTINGENCIES Distribution contract — Operating leases The rent expense during the nine months ended September 30, 2015 and 2014 amounted to $368,294 and $163,605, respectively. Future minimum lease payments under the agreements are as follows as of September 30, 2015: Year Amount 2015 (three months) $ 75,842 2016 494,969 2017 470,073 2018 482,294 2019 123,875 $ 1,647,053 Licensing agreement Pursuant to the Research Agreement, the Company and CellSeed formed a relationship regarding the future research and development of cell sheet engineering regenerative medicine products. Under the Research Agreement, as supplemented by the addendum, the Company agreed to pay CellSeed $8.5 million within 30 days after the completion of all of the following: (i) the execution of the Research Agreement; (ii) the execution of the Individual Agreement; and (iii) CellSeed’s delivery of the accumulated information package, as defined in the Research Agreement, to the Company and the Company providing written confirmation of its acceptance of the complete Package, which has not yet been completed as of September 30, 2015. CellSeed may terminate these agreements with the Company if the Company is unable to make timely payments required under the agreements. At the time the Company entered into the agreements with CellSeed, it left for further negotiation provisions covering how the Company and CellSeed will share any financial results of commercializing any cell sheet engineering regenerative medicine products that it is seeking to develop in collaboration with CellSeed. If the Company is not able to successfully negotiate these terms, its current development and commercialization plans with respect to any of these products would be materially adversely affected.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 — RELATED PARTY TRANSACTIONS The following table sets forth information relating to the Company’s loans from related persons outstanding as of September 30, 2015. Class Lender Annual Date of Term of Principal Highest Amount of Amount of Conversion Shares Notes payable to related parties - current: Hope Hospice (1) 8 % 1/17/2012 Due on demand $ 200,000 $ 200,000 $ — $ 8,000 $ — — Hope Hospice (1) 8 % 6/14/2012 Due on demand 200,000 200,000 — 8,000 — — Hope Hospice (1) 8 % 6/21/2012 Due on demand 100,000 100,000 — 4,000 — — Yutaka Niihara (2)(4) 10 % 12/5/2012 Due on demand 126,730 1,213,700 1,086,970 56,722 — — Hope Hospice (1) 8 % 2/11/2013 Due on demand 50,000 50,000 — 2,000 — — Lan T. Tran (2) 11 % 2/10/2014 2 years(3) 106,976 106,976 — — — — Hideki & Eiko Uehara (5) 11 % 2/15/2014 2 years 133,333 133,333 — — — — Hope Hospice (1) 10 % 1/7/2015 2 years(3) 100,000 100,000 — — — — James Lee (5) 10 % 1/26/2015 2 years(3) 50,000 50,000 — — — — Hope Hospice (1) 10 % 1/29/2015 2 years(3) 30,000 30,000 — — — — Yutaka Niihara (2)(4) 10 % 1/29/2015 Due on demand — 20,000 20,000 773 Lan T. Tran (2) 10 % 2/9/2015 2 years(3) 10,000 10,000 — — — — Charles Stark (2) 10 % 2/10/2015 2 years(3) 10,000 10,000 — — — — IRA Service Trust Co. FBO Peter B. Ludlum (2) 10 % 2/20/2015 2 years(3) 10,000 10,000 — — — — Cuc T. Tran (5) 11 % 3/5/2015 1 year 13,160 13,160 — — — — Yutaka Niihara (2)(4) 10 % 4/7/2015 2 years (3) 500,000 500,000 — — — — Yutaka Niihara (2)(4) 10 % 5/21/2015 Due on demand 826,105 826,105 — — — — Sub total $ 2,466,304 $ 3,573,274 $ 1,106,970 $ 79,495 $ — — Convertible notes payable to related parties - current: Yasushi Nagasaki (2) 10 % 6/29/2012 Due on demand $ 298,000 $ 388,800 $ 90,800 $ — $ 3.30 106,229 Phillip M. Satow (4) 10 % 6/6/2014 2 years 100,000 100,000 — — $ 7.00 16,172 Richard S. Pechter (5) 10 % 6/11/2014 2 years 100,000 100,000 — — $ 7.00 16,152 Sub total $ 498,000 $ 588,800 $ 90,800 $ — $ — 138,553 Non-Current, convertible notes payable to related parties: Yutaka Niihara (2)(4) 10 % 9/29/2015 2 years $ 100,000 $ 100,000 $ — $ — $ 4.50 22,234 Sub total 100,000 100,000 $ — $ — $ — 22,234 Total $ 3,064,304 $ 4,262,074 $ 1,197,770 $ 79,495 $ — 160,787 (1) Dr. Niihara, a director and officer of the Company, is also the CEO of Hope Hospice. (2) Officer (3) Due on Demand (4) Director (5) Family of Officer/Director The following table sets forth information relating to the Company’s loans from related persons outstanding as of December 31, 2014. Class Lender Annual Date of Term of Principal Highest Amount of Amount of Conversion Shares Notes payable to related parties - current: Hope Hospice(1) 8 % 1/17/2012 Due on demand $ 200,000 $ 200,000 $ — $ 16,000 $ — — Hope Hospice(1) 8 % 6/14/2012 Due on demand 200,000 200,000 — 20,000 — — Hope Hospice(1) 8 % 6/21/2012 Due on demand 100,000 100,000 — 10,000 — — Yutaka Niihara(2)(4) 10 % 12/5/2012 Due on demand 156,730 1,213,700 1,056,970 60,851 — — Hope Hospice(1) 8 % 2/11/2013 Due on demand 50,000 50,000 — 4,000 — — Lan T. Tran(2) 11 % 2/10/2014 2 years(3) 106,976 106,976 — — — — Cuc T. Tran(5) 11 % 3/5/2014 1 year 11,856 11,856 — — — — Sub total $ 825,562 $ 1,882,532 $ 1,056,970 $ 110,851 $ — — Convertible note payable to related parties - current: Yasushi Nagasaki(2) 10 % 6/29/2012 Due on demand $ 373,000 $ 388,800 $ 15,800 $ 67,680 $ 3.30 121,461 Sub total $ 373,000 $ 388,800 $ 15,800 $ 67,680 $ — 121,461 Note payable to related parties — long-term: Hideki & Eiko Uehara(5) 11 % 2/15/2014 2 years $ 133,333 $ 133,333 $ — $ 14,697 $ — — Sub total $ 133,333 $ 133,333 $ — $ 14,697 $ — — Convertible notes payable to related parties — long-term: Phillip M. Satow(4) 10 % 6/6/2014 2 years $ 100,000 $ 100,000 $ — $ — $ 7.00 15,103 Richard S. Pechter(5) 10 % 6/11/2014 2 years 100,000 100,000 — — $ 7.00 15,084 Sub total $ 200,000 $ 200,000 $ — $ — $ — 30,187 Total $ 1,531,895 $ 2,604,665 $ 1,072,770 $ 193,228 $ — 151,648 (1) Dr. Niihara, a director and officer of the Company, is also the CEO of Hope Hospice. (2) Officer (3) Due on Demand (4) Director (5) Family of Officer/Director Litigation with AFH Advisory From July 2012 until May 2015, the Company was engaged in litigation with AFH Advisory, which was the sole stockholder of AFH Acquisition IV, Inc. immediately prior to its merger with Emmaus Medical in May 2011. In September 2012, AFH Advisory and related parties filed a complaint against the Company in the Superior Court of Delaware. In October 2012, the Company filed counterclaims against the plaintiffs and third-party claims against Amir Heshmatpour. Mr. Heshmatpour was an officer of AFH Acquisition IV, Inc. prior to its merger with Emmaus Medical and a former director of the Company and is the Managing Partner of AFH Advisory. On June 27, 2013, the Superior Court of the State of Delaware issued an order implementing a partial summary judgment in favor of the Company in its litigation against AFH Advisory, Griffin Ventures, Ltd. (‘‘Griffin’’), The Amir & Kathy Heshmatpour Family Foundation (the ‘‘Foundation’’) and Amir Heshmatpour. The order, among other things, (i) stated that a letter of intent previously entered into between the Company and AFH Advisory (the ‘‘Letter of Intent’’) was properly terminated by the Company as of July 19, 2012, and (ii) ordered the transfer agent for the Company to effect the cancellation of 2,504,249 shares of the Company’s common stock held by AFH Advisory, Griffin and the Foundation. The cancellation of such shares was effected by the Company’s transfer agent on June 28, 2013. The cancellation of such shares was subject to appeal until 30 days after the completion of trial court proceedings. On May 4, 2015, a settlement was entered with the Superior Court of the State of Delaware dismissing the case with prejudice, thus removing any right to appeal. Thus, as of May 4, 2015, the Company no longer presents these shares of common stock as outstanding in its consolidated financial statements. The settlement called for the exchange of documents and financial records, and for AFH Advisory to assign and transfer to the Company 150,000 shares of stock of Targeted Medical. In addition, the parties to the litigation dismissed all remaining claims with prejudice. The Parties agree that there are no further obligations due under any of the Letters of Intent. The Letters of Intent are considered rescinded, nulled, and voided. This enabled the elimination of a $394,446 payable to AFH Advisory which was recorded as a gain on derecognition of amounts due to related party. Section 225 Litigation On April 28, 2015, Dr. Yutaka Niihara, the Company’s President, Chief Executive Officer and Chairman of the Board, filed a complaint (the “Complaint”) in the Court of Chancery of the State of Delaware (the “Court”) under Section 225 of the Delaware General Corporation Law against Tracey C. Doi, Henry A. McKinnell, Jr., Akiko M. Miyashita, Phillip M. Satow and Mayuran Sriskandarajah, each of whom was a member of the Board as of April 24, 2015 (together with Dr. Niihara, the “Incumbent Directors”), Sarissa Capital Management L.P. (“Sarissa”) and T.R. Winston & Company, LLC (“TRW”), as defendants, and the Company as nominal defendant. The Complaint requested that the Court issue an order declaring, among other things, that: · · · · · Along with the Complaint, Dr. Niihara filed a motion for an order maintaining the status quo and a motion for expedited proceedings. On April 29, 2015, following their resignations from our Board, Ms. Doi and Ms. Miyashita were dismissed from the action. On May 22, 2015, Mr. Satow and Dr. McKinnell were dismissed from the action. On July 31, 2015, Mr. Sriskandarajah was dismissed from the action. On June 10, 2015, the Delaware court issued a Status Quo Order providing that, until conclusion of the case, the Board would be comprised of Dr. Niihara, Mr. Sriskandarajah, Mr. Satow and Dr. McKinnell; provided, however, that nothing in the Status Quo Order would prevent voluntary resignations from the Board, and no director could be seated or replaced pursuant to the Designation Agreement except upon ten calendar days written notice to the parties in this Action by the party seeking to exercise its right to designate such director. The Status Quo Order also specified certain corporate actions that would require approval of all directors voting on an action. On June 15, 2015, Mr. Satow tendered his resignation from the Board of the Company, effective upon the election and qualification of Dr. Scott Gottlieb as the designee of TRW pursuant to the Designation Agreement. This resignation, as well as Dr. Gottlieb’s election to the Board of the Company, became effective on August 3, 2015.

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	NOTE 10 — GEOGRAPHIC INFORMATION For the nine months ended September 30, 2015 and 2014, the Company earned revenue from countries outside of the United States as outlined in the table below: Country Revenues for % of total revenue for the Revenues for the % of total revenue for the Japan $ 148,319 47 % $ 132,145 38 % South Korea — 0 % 45,312 13 % Taiwan 110,104 35 % 129,310 37 % For the three months ended September 30, 2015 and 2014, the Company earned revenue from countries outside of the United States as outlined in the table below: Country Revenues for % of total revenue for the Revenues for the % of total revenue for the Japan $ 48,707 63 % $ 53,757 35 % South Korea — 0 % — 0 % Taiwan — 0 % 101,580 65 % The Company did not have any significant currency translation or foreign transaction adjustments during the three and nine months ended September 30, 2015 and 2014.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 — SUBSEQUENT EVENTS Subsequent to September 30, 2015, the Company issued the following: Notes Issued after September 30, 2015 Principal Annual Term of Notes Conversion Convertible notes (1) $ 749,009 10% Due on Demand up to 2 years $ 3.60 Convertible notes (2) 1,401,325 10% 2 years $ 4.50 Convertible notes — related party (2) 220,000 10% 2 yeas $ 4.50 Promissory note 250,000 11% 6 months — Promissory note (1) 833,335 11% Due on Demand — Promissory notes — related party (1) 263,843 11% Due on Demand — Promissory notes — related party 859,700 10%~11% Due on Demand up to 2 years — Total $ 4,577,212 (1) (2) Subsequent to the quarter ended September 30, 2015, the Company issued the following: Common Shares Issued for Cash after Principal Number of Common shares $ 1,700,000 377,778 Common shares—related party 99,999 22,222 Total $ 1,799,999 400,000 Secured Loans after September 30, 2015 Principal Annual Term of Loans Secured loans $ 1,295,000 10% Earlier of closing of new debt financing or May 1, 2017 Total $ 1,295,000 Regarding the lawsuit described above under “NOTE 9 — RELATED PARTY TRANSACTIONS, Section 225 Litigation,” on November 19, 2015, counsel to Dr. Niihara, Sarissa and the Company filed a joint stipulation to dismiss the action. In connection therewith, on November 19, 2015, the Company, Dr. Niihara and Sarissa entered into Amendment No. 1 (the “Amendment”) to the Designation Agreement. The Amendment terminates the Designation Agreement with respect to the Company, Dr. Niihara and Sarissa, and provides that those parties shall have no further rights or obligations to each other under the Designation Agreement. Furthermore, each of the Company, Sarissa and Dr. Niihara waived all rights each has ever had, has or may have under the Designation Agreement against each other, and released each other from any and all obligations each has ever had, has or may have to the other under the Designation Agreement. As a result of the Amendment, Sarissa no longer has the right to designate any members of the Company’s Board, nor does it have the right to approve any actions as were set forth in the Designation Agreement. On November 20, 2015, the Court entered the dismissal, at which time the Status Quo Order ceased to be in effect. In connection with the Amendment, on November 19, 2015, Mr. Sriskandarajah tendered his resignation from the Board, effective immediately. The Company has agreed to indemnify Mr. Sriskandarajah for $43,476 in attorneys’ fees and expenses he incurred in defense of this action. On December 29, 2015, the Company and CellSeed, Inc. (“CellSeed”) terminated the Research Agreement and the Individual Agreement. The Company no longer has an obligation to pay the $8.5 million or any other amount under this terminated agreement. On May 1, 2016, the SCD Patent expired and subsequently, the license agreement has terminated. Since the SCD Patent is expired, competitors with more resources than us may develop similar products which may subject our product to greater competition than we expect and reduce our ability to generate revenue from our product candidate, possibly materially. These circumstances may also impair our ability to obtain license partners or other international commercialization opportunities on terms acceptable to us, if at all. Although the SCD patent is expired, we will continue to seek market exclusivity protection for the SCD treatment by way of our orphan designation which, if the product is approved, will grant us seven years market exclusivity. In addition, under the Title I of the Drug Price Competition and Patent Term Resolution Act or the Hatch/Waxman Act, we may be eligible for three-year period market exclusivity if approved by the FDA. The FDA may not agree that our product is entitled to data exclusivity under the Hatch/Waxman Act and, if granted, data exclusivity protection under the Hatch/Waxman Act will expire three years after our product is approved. With the termination of the license agreement, we will no longer be bound by the terms of the agreement which include but are not limited to paying royalties. The royalties were equal to 4.5% of net sales of Licensed Products in the United States until lifetime royalty payments made to the licensor total $100,000, at which time the royalty rate will decrease to 2.5% of net sales of the Licensed Products.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Inventories	Inventories — Inventory by category September 30, 2015 December 31, 2014 Raw materials and components $ — $ 43,700 Work-in-process 160,994 27,665 Finished goods 133,588 179,048 $ 294,582 $ 250,413
Advertising cost	Advertising cost —
Marketable securities	Marketable securities — As of September 30, 2015, 9,300 shares of CellSeed stock and 150,000 shares of Targeted Medical are classified as current assets, as they are available for sale by the Company. The remaining 39,250 shares of CellSeed stock are pledged to secure a
Prepaid expenses and other current assets	Prepaid expenses and other current assets September 30, 2015 December 31, 2014 Prepaid insurance $ 99,569 $ 86,061 Other prepaid expenses and current assets 74,022 43,493 $ 173,591 $ 129,554
Fair value measurements	Fair value measurements Period ended Liability Classified Warrants—Stock Purchase Warrants September 30, 2015 December 31, 2014 Balance, beginning of period $ 3,206,000 $ 6,517,000 Fair value at issuance date — 3,523,000 Settlement of liability associated with warrants exercised — (1,752,744 ) Reclassification to warrant derivative liabilities (2,545,000 ) (7,068,000 ) Reduction of the warrants exercised to intrinsic value included in the statement of comprehensive loss — (1,770,256 ) Change in fair value included in the statement of comprehensive loss (661,000 ) 3,757,000 Balance, end of period $ — $ 3,206,000 Period ended Warrant Derivative Liabilities—Stock Purchase Warrants September 30, 2015 December 31, 2014 Balance, beginning of period $ 6,520,000 $ — Reclassification from liability classified warrants 2,545,000 7,068,000 Change in fair value included in the statement of comprehensive loss (1,495,000 ) (548,000 ) Balance, end of period $ 7,570,000 $ 6,520,000 The value of the liability classified warrants , the value of warrant derivative liability and the change in fair value of the liability classified warrants and warrant derivative liability were determined using a Binomial Monte-Carlo Cliquet (aka Ratchet) Option Pricing Model. The model is similar to traditional Black-Scholes-type option pricing models except that the exercise price resets at certain dates in the future. T September 30, December 31, December 31, Initial Stock price $ 4.50 $ 4.90 $ 3.60 $ 3.60 Risk-free interest rate 0.91 % 1.38 % 1.75 % 1.72 % Expected volatility (peer group) 65.10 % 71.50 % 63.20 % 72.40 % Expected life (in years) 2.95 3.70 4.70 5.00 Expected dividend yield — — — — Number outstanding 3,320,501 3,320,501 3,320,501 3,320,501 Balance, end of period: Liability classified warrants $ — $ 3,206,000 $ 6,517,000 $ 7,541,000 Warrant derivative liabilities $ 7,570,000 $ 6,520,000 $ — $ —
Debt and Related Party Debt	Debt and related party debt Type of Loan Term of Stated Original Conversion Beneficial Warrants Exercise Warrant Effective 2014 convertible notes payable 6 mo. ~ 2 years 10 % $ 3,096,266 $3.05 ~ $3.60 $ 1,392,387 50,000 $ 3.50 $ 126,732 28 % ~ 100% 2015 convertible notes payable Due on demand ~ 2 years 10 % 3,869,951 $3.50 ~ $4.50 1,380,153 110,417 $ 4.90 220,071 19 % ~ 109% Total $ 6,966,217 $ 2,772,540 160,417 $ 346,803 Related party notes are disclosed as separate line items in the Company’s balance sheet presentation.
Net loss per share	Net loss per share
Recent accounting pronouncements	Recent accounting pronouncements Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In July 2015, FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of reconciliation of the effects of the adjustments to the previously reported balance sheet	A reconciliation of the effects of the adjustments to the previously reported consolidated balance sheet at September 30, 2014 follows: As Previously Adjustment As Revised As of September 30, 2014 Liability classified warrants 9,594,000 953,000 10,547,000 Total liabilities 23,616,020 953,000 24,569,020 Additional paid in capital 47,772,911 688,003 48,460,914 Accumulated deficit (67,643,816 ) (1,641,003 ) (69,284,819 ) Total stockholder’s deficit (19,958,319 ) (953,000 ) (20,911,319 )
Schedule of reconciliation of the effect of the adjustments to the previously reported statement of operations	A reconciliation of the effect of the adjustments to the previously reported consolidated statement of comprehensive loss for the three and nine months ended September 30, 2014 follows: As Previously Adjustment As Revised As Previously Adjustment As Revised For Three Months Ended September 30, 2014 For Nine Months Ended September 30, 2014 General and administrative 2,759,098 (91,272 ) 2,667,826 9,012,391 750,343 9,762,734 Loss from operations (3,316,312 ) 91,272 (3,225,040 ) (10,935,497 ) (750,343 ) (11,685,840 ) Change in fair value of liability classified warrants 84,000 8,000 92,000 (1,895,744 ) (364,000 ) (2,259,744 ) Loss before income taxes (3,726,437 ) 99,272 (3,627,165 ) (17,842,454 ) (1,114,343 ) (18,956,797 )
Schedule of reconciliation of the effect of the adjustments to the previously reported statement of cash flows	A reconciliation of the effect of the adjustments to the previously reported consolidated statements of cash flows for the three and nine months ended September 30, 2014 follows: As Previously Adjustment As Revised As Previously Adjustment As Revised For Three Months Ended September 30, 2014 For Nine Months Ended September 30, 2014 Net loss (3,726,437 ) 99,272 (3,627,165 ) (17,844,954 ) (1,114,343 ) (18,959,297 ) Share-based compensation 1,443,794 (91,272 ) 1,352,522 4,421,423 750,343 5,171,766 Change in fair value of liability classified warrants (84,000 ) (8,000 ) (92,000 ) 1,895,744 364,000 2,259,744

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule of inventory	Inventory by category September 30, 2015 December 31, 2014 Raw materials and components $ — $ 43,700 Work-in-process 160,994 27,665 Finished goods 133,588 179,048 $ 294,582 $ 250,413
Schedule of prepaid expenses and other current assets	September 30, 2015 December 31, 2014 Prepaid insurance $ 99,569 $ 86,061 Other prepaid expenses and current assets 74,022 43,493 $ 173,591 $ 129,554
Schedule of changes in fair value of Level 3 liabilities	The following table presents the activity for those items measured at fair value on a recurring basis using Level 3 inputs during the nine months ended September 30, 2015 and the year ended December 31, 2014: Period ended Liability Classified Warrants—Stock Purchase Warrants September 30, 2015 December 31, 2014 Balance, beginning of period $ 3,206,000 $ 6,517,000 Fair value at issuance date — 3,523,000 Settlement of liability associated with warrants exercised — (1,752,744 ) Reclassification to warrant derivative liabilities (2,545,000 ) (7,068,000 ) Reduction of the warrants exercised to intrinsic value included in the statement of comprehensive loss — (1,770,256 ) Change in fair value included in the statement of comprehensive loss (661,000 ) 3,757,000 Balance, end of period $ — $ 3,206,000 Period ended Warrant Derivative Liabilities—Stock Purchase Warrants September 30, 2015 December 31, 2014 Balance, beginning of period $ 6,520,000 $ — Reclassification from liability classified warrants 2,545,000 7,068,000 Change in fair value included in the statement of comprehensive loss (1,495,000 ) (548,000 ) Balance, end of period $ 7,570,000 $ 6,520,000
Schedule of valuation assumptions for warrants	T September 30, December 31, December 31, Initial Stock price $ 4.50 $ 4.90 $ 3.60 $ 3.60 Risk-free interest rate 0.91 % 1.38 % 1.75 % 1.72 % Expected volatility (peer group) 65.10 % 71.50 % 63.20 % 72.40 % Expected life (in years) 2.95 3.70 4.70 5.00 Expected dividend yield — — — — Number outstanding 3,320,501 3,320,501 3,320,501 3,320,501 Balance, end of period: Liability classified warrants $ — $ 3,206,000 $ 6,517,000 $ 7,541,000 Warrant derivative liabilities $ 7,570,000 $ 6,520,000 $ — $ —
Schedule of convertible notes payable	The following table presents the effective interest rates on the original loan principal amount for loans originated in the respective periods that either had a beneficial conversion feature or an attached warrant: Type of Loan Term of Stated Original Conversion Beneficial Warrants Exercise Warrant Effective 2014 convertible notes payable 6 mo. ~ 2 years 10 % $ 3,096,266 $3.05 ~ $3.60 $ 1,392,387 50,000 $ 3.50 $ 126,732 28 % ~ 100% 2015 convertible notes payable Due on demand ~ 2 years 10 % 3,869,951 $3.50 ~ $4.50 1,380,153 110,417 $ 4.90 220,071 19 % ~ 109% Total $ 6,966,217 $ 2,772,540 160,417 $ 346,803

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consisted of the following at: September 30, 2015 December 31, 2014 Equipment $ 164,198 $ 160,201 Leasehold improvements 30,670 30,579 Furniture and fixtures 74,714 74,683 Sub total 269,582 265,463 Less: accumulated depreciation (208,327 ) (193,072 ) Total $ 61,255 $ 72,391

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets, related to license fees and patent filing costs associated with September 30, 2015 December 31, 2014 License fees and patent filing costs $ 2,000,000 $ 2,000,000 Less: accumulated amortization (1,267,857 ) (1,107,143 ) Total $ 732,143 $ 892,857
Schedule of estimated aggregate amortization expense for the next five years	As of September 30, 2015 estimated aggregate amortization expense for the next five years is as follows: Periods ending December 31, Amount 2015 $ 53,572 2016 214,286 2017 214,286 2018 214,286 2019 35,713 Total $ 732,143

ACCOUNTS PAYABLE AND ACCRUED 23

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2015
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses consisted of the following at: September 30, 2015 December 31, 2014 Accounts payable Clinical and regulatory expenses $ 254,453 $ 266,537 Legal expenses 167,254 176,691 Other vendors 765,485 774,444 Subtotal 1,187,192 1,217,672 Accrued interest payable, related parties 181,654 110,200 Accrued interest payable 1,179,823 761,682 Accrued expenses 301,736 220,200 Deferred salary 306,667 291,666 Total accounts payable and accrued expenses $ 3,157,072 $ 2,601,420

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of notes payable	Notes payable consisted of the following at September 30, 2015 and December 31, 2014: Year Interest Term of Notes Conversion Principal Discount Carrying Shares Principal Discount Carrying Amount Shares Notes payable 2013 10% Due on demand — $ 840,000 $ — $ 840,000 — $ 1,030,000 $ — $ 1,030,000 — 2014 11% Due on demand ~ 2 years — 1,446,950 — 1,446,950 — 1,446,950 — 1,446,950 — 2015 11% Due on demand ~ 2 years — 2,390,400 — 2,390,400 — — — — — $ 4,677,350 $ — $ 4,677,350 — $ 2,476,950 $ — $ 2,476,950 — Current $ 4,677,350 $ — $ 4,677,350 — $ 1,643,615 $ — $ 1,643,615 — Long-term $ — $ — $ — — $ 833,335 $ — $ 833,335 — Notes payable - related party 2012 8% ~ 10% Due on demand — $ 626,730 $ — $ 626,730 — $ 656,730 $ — $ 656,730 — 2013 8% Due on demand — 50,000 — 50,000 — 50,000 — 50,000 — 2014 11% Due on demand ~ 2 years — 240,308 — 240,308 — 252,165 — 252,165 — 2015 10% ~ 11% Due on demand ~ 2 years — 1,549,266 — 1,549,266 — — — — — $ 2,466,304 $ — $ 2,466,304 — $ 958,895 $ — $ 958,895 — Current $ 2,466,304 $ — $ 2,466,304 — $ 825,562 $ — $ 825,562 — Long-term $ — $ — $ — — $ 133,333 $ — $ 133,333 — Convertible notes payable 2010 6% 5 years $3.05 $ 2,000 $ — $ 2,000 656 $ 74,000 $ 3,195 $ 70,805 24,248 2011 10% 5 years $3.05 500,000 — 500,000 163,809 500,000 — 500,000 163,809 2013 10% 2 years $3.60 525,257 — 525,257 181,875 2,463,299 18,750 2,444,549 834,667 2014 10% Due on demand ~ 2 years $3.05~$7.00 4,176,123 477,941 3,698,182 1,064,382 4,939,773 846,613 4,093,160 1,241,241 2015 10% Due on demand ~ 2 years $3.50~$7.00 4,769,951 712,476 4,057,475 1,280,362 — — — — $ 9,973,331 $ 1,190,417 $ 8,782,914 2,691,084 $ 7,977,072 $ 868,558 $ 7,108,514 2,263,965 Current $ 3,919,313 $ 103,772 $ 3,815,541 1,014,855 $ 3,478,904 $ 21,945 $ 3,456,959 1,156,050 Long-term $ 6,054,018 $ 1,086,645 $ 4,967,373 1,676,229 $ 4,498,168 $ 846,613 $ 3,651,555 1,107,915 Convertible notes payable - related party 2012 10% Due on demand $3.30 $ 298,000 $ — $ 298,000 106,229 $ 373,000 $ — $ 373,000 121,461 2014 10% 2 years $7.00 200,000 — 200,000 32,324 200,000 — 200,000 30,187 2015 10% 2 years $4.50 100,000 — 100,000 22,234 — — — — $ 598,000 $ — $ 598,000 160,787 $ 573,000 $ — $ 573,000 151,648 Current $ 498,000 $ — $ 498,000 138,553 $ 373,000 $ — $ 373,000 121,461 Long-term $ 100,000 $ — $ 100,000 22,234 $ 200,000 $ — $ 200,000 30,187 Grand Total $ 17,714,985 $ 1,190,417 $ 16,524,568 2,851,871 $ 11,985,917 $ 868,558 $ 11,117,359 2,415,613
Schedule of contractual principal payments of notes payable	Contractual principal payments due on notes payable are as follows: Year Ending at September 30, 2015 2015 $ 7,999,560 2016 5,798,352 2017 3,917,073 Total $ 17,714,985
Schedule of fair value assumptions for warrants issued in conjunction with notes	The fair value of the warrants issued in conjunction with notes was determined using the Black Scholes Merton option pricing model with the following inputs for the periods ended: September 30, 2015 December 31, 2014 Stock price $ 4.50 $ 4.90 Exercise price $ 4.90 $ 3.50 Term 5 years 5 years Risk-free interest rate 1.57 % 1.66 % Expected dividend yield — — Expected volatility 67.30 % 70.10 %

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of outstanding warrants	A summary of outstanding warrants as of Nine months ended Year ended Warrants outstanding, beginning of period 5,101,450 6,279,296 Granted 110,417 1,145,465 Exercised (113,181 ) (1,254,621 ) Cancelled, forfeited or expired (1,458,933 ) (1,068,690 ) Warrants outstanding, end of period 3,639,753 5,101,450
Schedule of warrants by year issued and exercise price	A summary of outstanding warrants by year issued and exercise price as of Outstanding Weighted Average Exercisable Exercise Price Number of Remaining Weighted Total Weighted Balance 2012 $3.05 108,835 0.12 $ 3.05 108,835 $ 3.05 2012 total 108,835 108,835 During 2013 $3.30 50,000 2.59 $ 3.30 50,000 $ 3.30 $3.50 2,225,036 2.95 $ 3.50 2,225,036 $ 3.50 2013 total 2,275,036 2,275,036 During 2014 $3.50 1,145,465 2.98 $ 3.50 1,145,465 $ 3.50 2014 total 1,145,465 1,145,465 During 2015 $4.90 110,417 4.43 $ 4.90 110,417 $ 4.90 Total 3,639,753 3,639,753
Schedule of outstanding options	A summary of outstanding options as of September 30, 2015 is Current Plan Prior Plan September 30, 2015 December 31, 2014 Number Weighted- Number of Weighted- Number of Weighted- Options outstanding, beginning of period 11,795 $ 3.05 5,669,000 $ 3.68 4,504,000 $ 3.58 Granted or deemed issued — — — — 1,180,000 $ 4.06 Exercised — — (2,000 ) $ 3.60 — — Cancelled, forfeited and expired (11,795 ) $ 3.05 (846,999 ) $ 3.97 (15,000 ) $ 3.60 Options outstanding, end of period — 4,820,001 $ 3.63 5,669,000 $ 3.68 Options exercisable, end of period — 4,172,890 $ 3.61 2,855,251 $ 3.55 Options available for future grant, end of period — 4,179,999 3,331,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments	Future minimum lease payments under the agreements are as follows as of September 30, 2015: Year Amount 2015 (three months) $ 75,842 2016 494,969 2017 470,073 2018 482,294 2019 123,875 $ 1,647,053

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Schedule of related parties outstanding loans	The following table sets forth information relating to the Company’s loans from related persons outstanding as of September 30, 2015. Class Lender Annual Date of Term of Principal Highest Amount of Amount of Conversion Shares Notes payable to related parties - current: Hope Hospice (1) 8 % 1/17/2012 Due on demand $ 200,000 $ 200,000 $ — $ 8,000 $ — — Hope Hospice (1) 8 % 6/14/2012 Due on demand 200,000 200,000 — 8,000 — — Hope Hospice (1) 8 % 6/21/2012 Due on demand 100,000 100,000 — 4,000 — — Yutaka Niihara (2)(4) 10 % 12/5/2012 Due on demand 126,730 1,213,700 1,086,970 56,722 — — Hope Hospice (1) 8 % 2/11/2013 Due on demand 50,000 50,000 — 2,000 — — Lan T. Tran (2) 11 % 2/10/2014 2 years(3) 106,976 106,976 — — — — Hideki & Eiko Uehara (5) 11 % 2/15/2014 2 years 133,333 133,333 — — — — Hope Hospice (1) 10 % 1/7/2015 2 years(3) 100,000 100,000 — — — — James Lee (5) 10 % 1/26/2015 2 years(3) 50,000 50,000 — — — — Hope Hospice (1) 10 % 1/29/2015 2 years(3) 30,000 30,000 — — — — Yutaka Niihara (2)(4) 10 % 1/29/2015 Due on demand — 20,000 20,000 773 Lan T. Tran (2) 10 % 2/9/2015 2 years(3) 10,000 10,000 — — — — Charles Stark (2) 10 % 2/10/2015 2 years(3) 10,000 10,000 — — — — IRA Service Trust Co. FBO Peter B. Ludlum (2) 10 % 2/20/2015 2 years(3) 10,000 10,000 — — — — Cuc T. Tran (5) 11 % 3/5/2015 1 year 13,160 13,160 — — — — Yutaka Niihara (2)(4) 10 % 4/7/2015 2 years (3) 500,000 500,000 — — — — Yutaka Niihara (2)(4) 10 % 5/21/2015 Due on demand 826,105 826,105 — — — — Sub total $ 2,466,304 $ 3,573,274 $ 1,106,970 $ 79,495 $ — — Convertible notes payable to related parties - current: Yasushi Nagasaki (2) 10 % 6/29/2012 Due on demand $ 298,000 $ 388,800 $ 90,800 $ — $ 3.30 106,229 Phillip M. Satow (4) 10 % 6/6/2014 2 years 100,000 100,000 — — $ 7.00 16,172 Richard S. Pechter (5) 10 % 6/11/2014 2 years 100,000 100,000 — — $ 7.00 16,152 Sub total $ 498,000 $ 588,800 $ 90,800 $ — $ — 138,553 Non-Current, convertible notes payable to related parties: Yutaka Niihara (2)(4) 10 % 9/29/2015 2 years $ 100,000 $ 100,000 $ — $ — $ 4.50 22,234 Sub total 100,000 100,000 $ — $ — $ — 22,234 Total $ 3,064,304 $ 4,262,074 $ 1,197,770 $ 79,495 $ — 160,787 (1) Dr. Niihara, a director and officer of the Company, is also the CEO of Hope Hospice. (2) Officer (3) Due on Demand (4) Director (5) Family of Officer/Director The following table sets forth information relating to the Company’s loans from related persons outstanding as of December 31, 2014. Class Lender Annual Date of Term of Principal Highest Amount of Amount of Conversion Shares Notes payable to related parties - current: Hope Hospice(1) 8 % 1/17/2012 Due on demand $ 200,000 $ 200,000 $ — $ 16,000 $ — — Hope Hospice(1) 8 % 6/14/2012 Due on demand 200,000 200,000 — 20,000 — — Hope Hospice(1) 8 % 6/21/2012 Due on demand 100,000 100,000 — 10,000 — — Yutaka Niihara(2)(4) 10 % 12/5/2012 Due on demand 156,730 1,213,700 1,056,970 60,851 — — Hope Hospice(1) 8 % 2/11/2013 Due on demand 50,000 50,000 — 4,000 — — Lan T. Tran(2) 11 % 2/10/2014 2 years(3) 106,976 106,976 — — — — Cuc T. Tran(5) 11 % 3/5/2014 1 year 11,856 11,856 — — — — Sub total $ 825,562 $ 1,882,532 $ 1,056,970 $ 110,851 $ — — Convertible note payable to related parties - current: Yasushi Nagasaki(2) 10 % 6/29/2012 Due on demand $ 373,000 $ 388,800 $ 15,800 $ 67,680 $ 3.30 121,461 Sub total $ 373,000 $ 388,800 $ 15,800 $ 67,680 $ — 121,461 Note payable to related parties — long-term: Hideki & Eiko Uehara(5) 11 % 2/15/2014 2 years $ 133,333 $ 133,333 $ — $ 14,697 $ — — Sub total $ 133,333 $ 133,333 $ — $ 14,697 $ — — Convertible notes payable to related parties — long-term: Phillip M. Satow(4) 10 % 6/6/2014 2 years $ 100,000 $ 100,000 $ — $ — $ 7.00 15,103 Richard S. Pechter(5) 10 % 6/11/2014 2 years 100,000 100,000 — — $ 7.00 15,084 Sub total $ 200,000 $ 200,000 $ — $ — $ — 30,187 Total $ 1,531,895 $ 2,604,665 $ 1,072,770 $ 193,228 $ — 151,648 (1) Dr. Niihara, a director and officer of the Company, is also the CEO of Hope Hospice. (2) Officer (3) Due on Demand (4) Director (5) Family of Officer/Director

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of revenue earned from countries outside of the United States	For the nine months ended September 30, 2015 and 2014, the Company earned revenue from countries outside of the United States as outlined in the table below: Country Revenues for % of total revenue for the Revenues for the % of total revenue for the Japan $ 148,319 47 % $ 132,145 38 % South Korea — 0 % 45,312 13 % Taiwan 110,104 35 % 129,310 37 % For the three months ended September 30, 2015 and 2014, the Company earned revenue from countries outside of the United States as outlined in the table below: Country Revenues for % of total revenue for the Revenues for the % of total revenue for the Japan $ 48,707 63 % $ 53,757 35 % South Korea — 0 % — 0 % Taiwan —

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Schedule of subsequent events	Subsequent to September 30, 2015, the Company issued the following: Notes Issued after September 30, 2015 Principal Annual Term of Notes Conversion Convertible notes (1) $ 749,009 10% Due on Demand up to 2 years $ 3.60 Convertible notes (2) 1,401,325 10% 2 years $ 4.50 Convertible notes — related party (2) 220,000 10% 2 yeas $ 4.50 Promissory note 250,000 11% 6 months — Promissory note (1) 833,335 11% Due on Demand — Promissory notes — related party (1) 263,843 11% Due on Demand — Promissory notes — related party 859,700 10%~11% Due on Demand up to 2 years — Total $ 4,577,212 (1) (2) Subsequent to the quarter ended September 30, 2015, the Company issued the following: Common Shares Issued for Cash after Principal Number of Common shares $ 1,700,000 377,778 Common shares—related party 99,999 22,222 Total $ 1,799,999 400,000 Secured Loans after September 30, 2015 Principal Annual Term of Loans Secured loans $ 1,295,000 10% Earlier of closing of new debt financing or May 1, 2017 Total $ 1,295,000

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based compensation		$ 1,352,522	$ 2,968,028	$ 5,171,766
Change in fair value of liability classified warrants		(92,000)	(661,000)	2,259,744
Net loss	$ (3,444,362)	$ (3,627,164)	$ (8,343,604)	(18,959,297)
Adjustment [Member]
Description of prior period errors		300,000 common stock purchase warrant for the purchase of common stock issued to a certain broker as compensation for services rendered in a private placement transaction during 2013.
Issuance of common stock purchase warrants issued for services - broker, shares		300,000
Fair value of derivative liability		$ 681,000		681,000
Derivative liability allocated to additional paid in capital		62,000		62,000
Derivative liability charged as transaction cost		619,000		619,000
Share-based compensation		(91,272)		750,343
Change in fair value of liability classified warrants		(8,000)		364,000
Net loss		$ 99,272		$ (1,114,343)

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Liability classified warrants	$ 7,570,000	$ 6,520,000	$ 10,547,000
Total liabilities	27,313,484	23,842,954	24,569,020
Additional paid in capital			48,460,914
Accumulated deficit	(80,427,440)	(72,083,836)	(69,284,819)
Total stockholders' deficit	$ (25,029,579)	$ (21,178,662)	(20,911,319)
As Previously Reported [Member]
Liability classified warrants			9,594,000
Total liabilities			23,616,020
Additional paid in capital			47,772,911
Accumulated deficit			(67,643,816)
Total stockholders' deficit			(19,958,319)
Adjustment [Member]
Liability classified warrants			953,000
Total liabilities			953,000
Additional paid in capital			688,003
Accumulated deficit			(1,641,003)
Total stockholders' deficit			$ (953,000)

BASIS OF PRESENTATION (Detail32

BASIS OF PRESENTATION (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
General and adminstrative	$ 2,170,963	$ 2,667,826	$ 7,383,842	$ 9,762,734
Loss from operations	(2,676,857)	(3,225,040)	(8,554,947)	(11,685,840)
Change in fair value of liability classified warrants		92,000	661,000	(2,259,744)
Loss before income taxes	$ (3,444,362)	(3,627,164)	$ (8,341,404)	(18,956,797)
As Previously Reported [Member]
General and adminstrative		2,759,098		9,012,391
Loss from operations		(3,316,312)		(10,935,497)
Change in fair value of liability classified warrants		84,000		(1,895,744)
Loss before income taxes		(3,726,437)		(17,842,454)
Adjustment [Member]
General and adminstrative		(91,272)		750,343
Loss from operations		91,272		(750,343)
Change in fair value of liability classified warrants		8,000		(364,000)
Loss before income taxes		$ 99,272		$ (1,114,343)

BASIS OF PRESENTATION (Detail33

BASIS OF PRESENTATION (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net loss	$ (3,444,362)	$ (3,627,164)	$ (8,343,604)	$ (18,959,297)
Share-based compensation		1,352,522	2,968,028	5,171,766
Change in fair value of liability classified warrants		(92,000)	$ (661,000)	2,259,744
As Previously Reported [Member]
Net loss		(3,726,437)		(17,844,954)
Share-based compensation		1,443,794		4,421,423
Change in fair value of liability classified warrants		(84,000)		1,895,744
Adjustment [Member]
Net loss		99,272		(1,114,343)
Share-based compensation		(91,272)		750,343
Change in fair value of liability classified warrants		$ (8,000)		$ 364,000

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)shares	Dec. 31, 2009USD ($)	Dec. 31, 2009JPY (¥)¥ / shares	Sep. 30, 2015¥ / shares	May. 04, 2015$ / shares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2014¥ / shares	Sep. 11, 2013shares
Advertising Costs | $	$ 11,720	$ 52,990	$ 185,465	$ 47,955
Potentially dilutive securities outstanding			13,993,997	11,411,625
Private Placement - Warrants [Member]
Number of shares upon conversion of warrant											1
2011 Convertible notes payable [Member]
Convertible notes payable, Carrying Amount | $	$ 500,000		$ 500,000						$ 500,000
Cell Seed Inc [Member]
Shares held as marketable securities	48,550		48,550
Shares originally purchased (in shares)	147,100		147,100
Purchase of marketable securities | $					$ 1,109,819
Investment, closing price | $ / shares	$ 4.86		$ 4.86						$ 8.52
Available for sale securities, stock (in shares)	9,300		9,300
Stock pledged against note	39,250		39,250
Cell Seed Inc [Member] | Japan, Yen
Purchase of marketable securities | ¥						¥ 100,028,000
Investment, closing price | ¥ / shares						¥ 680	¥ 579			¥ 1,027
Targeted Medical Pharma Inc [Member]
Shares held as marketable securities	150,000		150,000
Investment, closing price | $ / shares	$ 0.02		$ 0.02					$ 0.16
Available for sale securities, stock (in shares)	150,000		150,000

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies Details
Raw materials and components		$ 43,700
Work-in-process	$ 160,994	27,665
Finished goods	133,588	179,048
Total	$ 294,582	$ 250,413

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies Details
Prepaid insurance	$ 99,569	$ 86,061
Other prepaid expenses and current assets	74,022	43,493
Prepaid expenses and other current assets	$ 173,591	$ 129,554

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Liability Classified Warrants - Stock Purchase Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 3,206,000	$ 6,517,000
Fair value at issuance date		3,523,000
Settlement of liability associated with warrants exercised		(1,752,744)
Reclassification to warrant derivative liabilities	(2,545,000)	(7,068,000)
Reduction of the warrants exercised to intrinsic value included in the statement of comprehensive loss		(1,770,256)
Change in fair value included in the statement of comprehensive loss	(661,000)	3,757,000
Balance, end of period		3,206,000
Warrant Derivative Liabilities - Stock Purchase Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	6,520,000
Reclassification from liability classified warrants	2,545,000	7,068,000
Change in fair value included in the statement of comprehensive loss	(1,495,000)	(548,000)
Balance, end of period	$ 7,570,000	$ 6,520,000

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)	Sep. 11, 2013	Mar. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Stock price		$ 4.50		$ 4.90
Risk Free Interest Rate		1.57%		1.66%
Expected volatility (peer group)		67.30%		70.10%
Expected life		5 years		5 years
Balance, end of period:
Liability classified warrants				$ 3,206,000
Warrant derivative liabilities			$ 7,570,000	$ 6,520,000		$ 10,547,000
Warrants [Member]
Stock price	$ 3.60		$ 4.50	$ 4.90	$ 3.60
Risk Free Interest Rate	1.72%		1.07%	1.38%	1.75%
Expected volatility (peer group)	72.40%		65.10%	71.50%	63.20%
Expected life	5 years		2 years 11 months 12 days	3 years 8 months 12 days	4 years 8 months 12 days
Number outstanding	3,320,501		3,320,501	3,320,501	3,320,501
Balance, end of period:
Liability classified warrants	$ 7,541,000			$ 3,206,000	$ 6,517,000
Warrant derivative liabilities			$ 7,570,000	$ 6,520,000

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4)	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Minimum [Member]
Conversion rate (in dollars per share) | $ / shares	$ 3.05
Maximum [Member]
Conversion rate (in dollars per share) | $ / shares	$ 3.60
2015 Convertible notes payable - related party [Member]
Term of Loans	Due on demand ~ 2 years
Debt Term	2 years
Interest rate range	10.00%
Original loan principal amount	$ 3,869,951
Beneficial Conversion Discount Amount	$ 1,380,153
Warrants | shares	110,417
Exercise price of warrants | $ / shares	$ 4.90
Warrant FMV Discount Amount	$ 220,071
2015 Convertible notes payable - related party [Member] | Minimum [Member]
Conversion rate (in dollars per share) | $ / shares	$ 3.50
Effective Interest Rate Including Discounts	19.00%
2015 Convertible notes payable - related party [Member] | Maximum [Member]
Conversion rate (in dollars per share) | $ / shares	$ 4.50
Effective Interest Rate Including Discounts	109.00%
2014 Convertible notes payable - related party [Member]
Term of Loans	6 mo. ~ 2 years
Interest rate range	10.00%
Original loan principal amount	$ 3,096,266
Beneficial Conversion Discount Amount	$ 1,392,387
Warrants | shares	50,000
Exercise price of warrants | $ / shares	$ 3.50
Warrant FMV Discount Amount	$ 126,732
2014 Convertible notes payable - related party [Member] | Minimum [Member]
Conversion rate (in dollars per share) | $ / shares	$ 3.05
Effective Interest Rate Including Discounts	28.00%
2014 Convertible notes payable - related party [Member] | Maximum [Member]
Conversion rate (in dollars per share) | $ / shares	$ 3.60
Effective Interest Rate Including Discounts	100.00%
Notes payable and convertible notes payable - related party [Member]
Original loan principal amount	$ 6,966,217
Beneficial Conversion Discount Amount	$ 2,772,540
Warrants | shares	160,417
Warrant FMV Discount Amount	$ 346,803

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Property And Equipment Details Narrative
Depreciation expense	$ 4,210	$ 3,930	$ 15,182	$ 11,999

PROPERTY AND EQUIPMENT (Detai41

PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Property and equipment
Property and equipment, gross	$ 269,582	$ 265,463
Less: accumulated depreciation	(208,327)	(193,072)
Property and equipment, net	61,255	72,391
Equipment [Member]
Property and equipment
Property and equipment, gross	164,198	160,201
Leasehold Improvements [Member]
Property and equipment
Property and equipment, gross	30,670	30,579
Furniture and Fixtures [Member]
Property and equipment
Property and equipment, gross	$ 74,714	$ 74,683

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Intangible Assets Details Narrative
Amortization expense	$ 53,571	$ 53,571	$ 160,714	$ 160,714

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Intangible assets
License fees and patent filing costs	$ 2,000,000	$ 2,000,000
Less: accumulated amortization	(1,267,857)	(1,107,143)
Total	$ 732,143	$ 892,857

INTANGIBLE ASSETS (Details 1)

INTANGIBLE ASSETS (Details 1) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Year ending December 31
2,015	$ 53,572
2,016	214,286
2,017	214,286
2,018	214,286
2,019	35,713
Total	$ 732,143	$ 892,857

ACCOUNTS PAYABLE AND ACCRUED 45

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Accounts payable
Cinical and regulatory expenses	$ 254,453	$ 266,537
Legal expenses	167,254	176,691
Other vendors	765,485	774,444
Subtotal	1,187,192	1,217,672
Accrued interest payable, related parties	181,654	110,200
Accrued interest payable	1,179,823	761,682
Accrued expenses	301,736	220,200
Deferred salary	306,667	291,666
Total accounts payable and accrued expenses	$ 3,157,072	$ 2,601,420

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - $ / shares	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Average stated interest rate	10.00%	10.00%
Average effective interest rate	24.00%	23.00%
Conversion price equal to percent of initial public offering	80.00%
Description of debt conversion	Certain notes with a $4.50 or a $7.00 stated conversion price in the second year of their two year term are subject to automatic conversion into shares of our common stock at a conversion price equal to 80% of the initial public offering price at the time of a qualified public offering.
Minimum [Member]
Conversion price	$ 3.05
Minimum [Member] | Convertible Debt [Member]
Conversion price	4.50
Maximum [Member]
Conversion price	3.60
Maximum [Member] | Convertible Debt [Member]
Conversion price	$ 7

NOTES PAYABLE (Details)

NOTES PAYABLE (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)Number$ / shares	Dec. 31, 2014USD ($)Number$ / shares
Principal Outstanding	$ 17,714,985	$ 11,985,917
Discount Amount	1,190,417	868,558
Total Carrying Amount	$ 16,524,568	$ 11,117,359
Shares Underlying Principal | Number	2,851,871	2,415,613
Convertible notes payable, Current	$ 3,815,541	$ 3,456,959
Convertible notes payable, Non Current	4,967,373	3,651,555
Convertible notes payable related parties, Current	373,000	373,000
Convertible notes payable related parties, Non Current	373,000	373,000
Notes payable, Current	$ 4,677,350	1,643,615
Notes payable, Non Current		833,335
Notes payable related parties, Current	$ 2,466,304	825,562
Notes payable related parties, Non Current		$ 133,333
Minimum [Member]
Conversion price | $ / shares	$ 3.05
Maximum [Member]
Conversion price | $ / shares	$ 3.60
2010 Convertible notes payable [Member]
Interest rate		6.00%
Interest rate range, Minimum	0.00%	0.00%
Interest rate range, Maximum	6.00%	6.00%
Term of Notes	5 years	5 years
Conversion price | $ / shares	$ 3.05	$ 3.05
Principal Outstanding	$ 74,000	$ 74,000
Discount Amount		3,195
Convertible notes payable, Carrying Amount	$ 2,000	$ 70,805
Shares Underlying Principal | Number	656	24,248
Principal Outstanding, Current	$ 2,000
2011 Convertible notes payable [Member]
Interest rate	10.00%	10.00%
Interest rate range, Minimum	0.00%	0.00%
Interest rate range, Maximum	10.00%	10.00%
Term of Notes	5 years	5 years
Conversion price | $ / shares	$ 3.05	$ 3.05
Principal Outstanding	$ 500,000	$ 500,000
Discount Amount
Convertible notes payable, Carrying Amount	$ 500,000	$ 500,000
Shares Underlying Principal | Number	163,809	163,809
2013 Convertible notes payable [Member]
Interest rate	10.00%	10.00%
Interest rate range, Minimum	0.00%
Interest rate range, Maximum	10.00%
Term of Notes	2 years	2 years
Conversion price | $ / shares	$ 3.60
Principal Outstanding	$ 525,257	$ 2,463,299
Discount Amount		18,750
Convertible notes payable, Carrying Amount	$ 525,257	$ 2,444,549
Shares Underlying Principal | Number	181,875	834,667
2013 Convertible notes payable [Member] | Minimum [Member]
Conversion price | $ / shares	$ 3.30	$ 3.30
2013 Convertible notes payable [Member] | Maximum [Member]
Conversion price | $ / shares	$ 3.60	$ 3.60
2014 Convertible notes payable [Member]
Interest rate	10.00%	10.00%
Interest rate range, Minimum	0.00%
Interest rate range, Maximum	10.00%
Term of Notes	Due on demand ~ 2 years	Due on demand ~ 2 years
Principal Outstanding	$ 4,176,123	$ 4,939,773
Discount Amount	477,941	846,613
Convertible notes payable, Carrying Amount	$ 3,698,182	$ 4,093,160
Shares Underlying Principal | Number	1,064,382	1,241,241
2014 Convertible notes payable [Member] | Minimum [Member]
Conversion price | $ / shares	$ 3.05	$ 3.05
2014 Convertible notes payable [Member] | Maximum [Member]
Conversion price | $ / shares	$ 7	$ 7
2015 Convertible notes payable [Member]
Interest rate	10.00%	10.00%
Term of Notes	Due on demand ~ 2 years	Due on demand ~ 2 years
Principal Outstanding	$ 4,769,951
Discount Amount	712,476
Convertible notes payable, Carrying Amount	$ 4,057,475
Shares Underlying Principal | Number	1,280,362
2015 Convertible notes payable [Member] | Minimum [Member]
Conversion price | $ / shares	$ 3.50	$ 3.50
2015 Convertible notes payable [Member] | Maximum [Member]
Conversion price | $ / shares	$ 7	$ 7
2012 Convertible notes payable - related party [Member]
Interest rate	10.00%	10.00%
Term of Notes	Due on demand	Due on demand
Conversion price | $ / shares	$ 3.30	$ 3.30
Principal Outstanding	$ 298,000	$ 373,000
Discount Amount
Convertible notes payable related parties, Carrying Amount	$ 298,000	$ 373,000
Shares Underlying Principal | Number	106,229	121,461
2014 Convertible notes payable - related party [Member]
Interest rate	10.00%	10.00%
Term of Notes	2 years	2 years
Conversion price | $ / shares	$ 7	$ 7
Principal Outstanding	$ 200,000	$ 200,000
Convertible notes payable related parties, Carrying Amount	$ 200,000	$ 200,000
Shares Underlying Principal | Number	31,604	32,324
2013 Notes payable [Member]
Interest rate	10.00%	10.00%
Term of Notes	Due on demand ~ 2 years	Due on demand ~ 2 years
Principal Outstanding	$ 840,000	$ 1,030,000
Discount Amount
Notes payable, Carrying Amount	$ 840,000	$ 1,030,000
Shares Underlying Principal | Number
2014 Notes payable [Member]
Interest rate	11.00%	11.00%
Term of Notes	Due on demand ~ 2 years	Due on demand ~ 2 years
Principal Outstanding	$ 1,446,950	$ 1,446,950
Discount Amount
Notes payable, Carrying Amount	$ 1,446,950	$ 1,446,950
Shares Underlying Principal | Number
2015 Notes payable [Member]
Interest rate	11.00%	11.00%
Term of Notes	Due on demand ~ 2 years	Due on demand ~ 2 years
Principal Outstanding	$ 2,390,400
Discount Amount
Notes payable, Carrying Amount	$ 2,390,400
Shares Underlying Principal | Number
2012 Notes payable - related party [Member]
Interest rate range, Minimum	8.00%	8.00%
Interest rate range, Maximum	10.00%	10.00%
Term of Notes	Due on demand	Due on demand
Principal Outstanding	$ 646,730	$ 656,730
Discount Amount
Notes payable related parties, Carrying Amount	$ 646,730	$ 656,730
Shares Underlying Principal | Number
2013 Notes payable - related party [Member]
Interest rate	8.00%	8.00%
Term of Notes	Due on demand	Due on demand
Principal Outstanding	$ 50,000	$ 50,000
Discount Amount
Notes payable related parties, Carrying Amount	$ 50,000	$ 50,000
Shares Underlying Principal | Number
2014 Notes payable - related party [Member]
Interest rate	11.00%	11.00%
Term of Notes		Due on demand ~ 2 years
Principal Outstanding	$ 240,308	$ 252,165
Discount Amount
Notes payable related parties, Carrying Amount	$ 240,308	$ 252,165
Shares Underlying Principal | Number
2015 Notes payable - related party [Member]
Interest rate range, Minimum	10.00%	10.00%
Interest rate range, Maximum	11.00%	11.00%
Term of Notes	Due on demand ~ 2 years	Due on demand ~ 2 years
Principal Outstanding	$ 1,549,266
Discount Amount
Notes payable related parties, Carrying Amount	$ 1,549,266
Shares Underlying Principal | Number
2014 Notes payable - related party [Member]
Term of Notes	Due on demand ~ 2 years
Shares Underlying Principal | Number
Convertible notes payable [Member]
Principal Outstanding	$ 9,973,331	$ 7,977,072
Discount Amount	1,190,417	868,558
Convertible notes payable, Carrying Amount	$ 8,782,914	$ 7,108,514
Shares Underlying Principal | Number	2,691,084	2,263,965
Principal Outstanding, Current	$ 3,919,313	$ 3,478,904
Principal Outstanding, Non Current	6,054,018	4,498,168
Discount Amount Current	103,772	21,945
Discount Amount Non Current	1,086,645	846,613
Convertible notes payable, Current	3,815,541	3,456,959
Convertible notes payable, Non Current	$ 4,967,373	$ 3,651,555
Shares Underlying Principal Current | Number	1,014,855	1,156,050
Shares Underlying Principal Non Current | Number	1,676,229	1,107,915
Convertible notes payable - related party [Member]
Principal Outstanding	$ 598,000	$ 573,000
Convertible notes payable related parties, Carrying Amount	$ 598,000	573,000
Total Carrying Amount		$ 373,000
Shares Underlying Principal | Number	160,787	151,648
Principal Outstanding, Current	$ 498,000	$ 373,000
Principal Outstanding, Non Current	100,000	$ 200,000
Discount Amount Current
Discount Amount Non Current
Convertible notes payable related parties, Current	498,000	$ 373,000
Convertible notes payable related parties, Non Current	$ 100,000	$ 200,000
Shares Underlying Principal Current | Number	138,553	121,461
Shares Underlying Principal Non Current | Number	22,234	30,187
Promissory Notes [Member]
Principal Outstanding	$ 4,677,350	$ 2,476,950
Discount Amount
Notes payable, Carrying Amount	$ 4,677,350	$ 2,476,950
Shares Underlying Principal | Number
Principal Outstanding, Current	$ 4,677,350	1,643,615
Principal Outstanding, Non Current		$ 833,335
Discount Amount Current
Discount Amount Non Current
Notes payable, Current	$ 4,677,350	$ 1,643,615
Notes payable, Non Current		833,335
Shares Underlying Principal Current | Number
Shares Underlying Principal Non Current | Number
Notes payable - related party [Member]
Principal Outstanding	$ 2,466,304	958,895
Notes payable related parties, Carrying Amount	2,466,304	958,895
Total Carrying Amount	2,466,304	825,562
Principal Outstanding, Current	$ 2,466,304	825,562
Principal Outstanding, Non Current		$ 133,333
Discount Amount Current
Discount Amount Non Current
Notes payable related parties, Current	$ 2,466,304	$ 825,562
Notes payable related parties, Non Current		$ 133,333
Shares Underlying Principal Current | Number
Shares Underlying Principal Non Current | Number
2015 Convertible notes payable - related party [Member]
Interest rate	10.00%
Conversion price | $ / shares	$ 4.50
Principal Outstanding	$ 100,000
Convertible notes payable, Carrying Amount	$ 100,000
Shares Underlying Principal | Number	22,234

NOTES PAYABLE (Details 1)

NOTES PAYABLE (Details 1)	Sep. 30, 2015USD ($)
Contractual principal payments due on loans and notes payable for the year ending
2,015	$ 7,999,560
2,016	5,798,352
2,017	3,917,073
Total	$ 17,714,985

NOTES PAYABLE (Details 2)

NOTES PAYABLE (Details 2) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Fair value of options and warrants
Stock Price	$ 4.50	$ 4.90
Exercise Price	$ 4.90	$ 3.50
Term	5 years	5 years
Risk-free interest rate	1.57%	1.66%
Expected volatility	67.30%	70.10%

STOCKHOLDERS' EQUITY (DEFICIT50

STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative)	Jun. 10, 2014USD ($)$ / Warrantsshares	Sep. 11, 2013USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / shares$ / Warrantsshares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / shares$ / Warrantsshares	Sep. 30, 2014USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Jun. 10, 2015USD ($)$ / shares	Mar. 31, 2015$ / shares	Sep. 11, 2014USD ($)	Dec. 31, 2013USD ($)$ / sharesshares
Share-based compensation				$ 1,352,522	$ 2,968,028	$ 5,171,766
Share price (in dollars per share) | $ / shares							$ 4.90		$ 4.50
Warrant derivative liabilities			$ 7,570,000	10,547,000	$ 7,570,000	10,547,000	$ 6,520,000
Liability classified warrants							$ 3,206,000
Warrant exercise inducement expense						$ 3,523,000
Registrable Securities [Member]
Numbers of units issued | shares					4,115,966
Share price (in dollars per share) | $ / shares			$ 1		$ 1			$ 5.50
Number of cashless units warrants outstanding			$ 737,889		$ 737,889			$ 1,207,455
Numbers of securities purchased | shares			3,320,501		3,320,501
2011 Stock Incentive Option Plan [Member]
Options outstanding | shares			4,820,001		4,820,001		5,669,000				4,504,000
Additional options granted | shares							1,180,000
2011 Stock Incentive Option Plan [Member] | Stock Options [Member]
Options outstanding | shares			4,820,001		4,820,001
Weighted average grant-date fair value of options | $ / shares						$ 2.58
Weighted average grant-date fair value of common shares options | $ / shares						$ 4.06
Share-based compensation			$ 1,000,000	$ 1,400,000	$ 800,000	$ 3,000,000
Total unrecognized compensation cost			1,600,000		$ 1,600,000
Unrecognized compensation cost weighted average remaining period					9 months 18 days
2011 Stock Incentive Option Plan [Member] | Stock Options [Member] | Directors, Employees And Consultants [Member]
Granted | shares						840,000
Additional options granted | shares							340,000
Fair value of options granted					$ 3,000,000
Prior 2011 Stock Incentive Plan [Member]
Options outstanding | shares							11,795
Prior 2011 Stock Incentive Plan [Member] | Stock Options [Member]
Share-based compensation					5,200,000
Private Placement [Member]
Number of cashless units warrants outstanding	$ 2,225,036		3,320,501		3,320,501					$ 2,225,036
Warrant derivative liabilities	$ 1,800,000		1,095,465		1,095,465					$ 7,068,000
Numbers of securities purchased | shares	1,095,465
Excrcise price (in dollars per share) | $ / Warrants	3.50
Number of replacement warrants | shares	1,095,465
Reclassified from liability classified			$ 2,545,000		$ 2,545,000
Aggregate exercise proceeds of issuance	$ 3,800,000
Warrant exercise inducement expense	$ 3,500,000
Private Placement [Member] | Registrable Securities [Member]
Share price (in dollars per share) | $ / shares								$ 4.50
Private Placement - Warrants [Member]
Fair value of options granted		$ 3,000,000
Share price (in dollars per share) | $ / shares		$ 2.50
Purchase price of units		$ 7,551,253
Common stock exercise price | $ / shares		$ 3.50
Number of cashless units warrants outstanding		$ 300,000
Numbers of securities purchased | shares		3,020,501
Warrants [Member]
Granted | shares					110,417		1,145,465
Share price (in dollars per share) | $ / shares		$ 3.60	$ 4.50		$ 4.50		$ 4.90				$ 3.60
Number of cashless units warrants outstanding			$ 40,763		$ 40,763
Warrant derivative liabilities			$ 7,570,000		$ 7,570,000		$ 6,520,000
Numbers of securities purchased | shares			113,181		113,181
Liability classified warrants		$ 7,541,000					$ 3,206,000				$ 6,517,000
Warrant term					5 years
Reclassified from liability classified			$ 7,743,000		$ 7,743,000
Warrants [Member] | Minimum [Member]
Excrcise price (in dollars per share) | $ / Warrants			1		1
Warrants [Member] | Maximum [Member]
Excrcise price (in dollars per share) | $ / Warrants			3.05		3.05
Warrants [Member] | 2014 Convertible notes payable [Member]
Numbers of units issued | shares					110,417
Share price (in dollars per share) | $ / shares			$ 4.90		$ 4.90

STOCKHOLDERS' EQUITY (DEFICIT51

STOCKHOLDERS' EQUITY (DEFICIT) (Details) - Warrants [Member] - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Warrants outstanding summary
Warrants outstanding, beginning of period	5,101,450	6,279,296
Granted	110,417	1,145,465
Exercised	(113,181)	(1,254,621)
Cancelled, forfeited and expired	(1,458,933)	(1,068,690)
Warrants outstanding, end of period	3,639,753	5,101,450

STOCKHOLDERS' EQUITY (DEFICIT52

STOCKHOLDERS' EQUITY (DEFICIT) (Details 1)	9 Months Ended
	Sep. 30, 2015shares
Warrants Issued in 2012 - Exercise Price $3.05 [Member]
Year Issued	2,012
Weighted Average Exercise Price	3.05
Outstanding
Number of Warrants	108,835
Weighted Average Remaining Contractual Life (Years)	1 month 13 days
Exercisable
Total	108,835
Warrants Issued in 2012 [Member]
Outstanding
Number of Warrants	108,835
Exercisable
Total	108,835
Warrants Issued in 2013 - Exercise Price $3.30 [Member]
Year Issued	2,013
Weighted Average Exercise Price	3.30
Outstanding
Number of Warrants	50,000
Weighted Average Remaining Contractual Life (Years)	2 years 7 months 2 days
Exercisable
Total	50,000
Warrants Issued in 2013 - Exercise Price $3.50 [Member]
Year Issued	2,013
Weighted Average Exercise Price	3.50
Outstanding
Number of Warrants	2,225,036
Weighted Average Remaining Contractual Life (Years)	2 years 11 months 12 days
Exercisable
Total	2,225,036
Warrants Issued in 2013 [Member]
Outstanding
Number of Warrants	2,275,036
Exercisable
Total	2,275,036
Warrants Issued in 2014 - Exercise Price $3.50 [Member]
Year Issued	2,014
Weighted Average Exercise Price	3.50
Outstanding
Number of Warrants	1,145,465
Weighted Average Remaining Contractual Life (Years)	2 years 11 months 23 days
Exercisable
Total	1,145,465
Warrants Issued in 2014 [Member]
Outstanding
Number of Warrants	1,145,465
Exercisable
Total	1,145,465
Warrants [Member]
Year Issued	2,015
Weighted Average Exercise Price	4.90
Outstanding
Number of Warrants	110,417
Weighted Average Remaining Contractual Life (Years)	4 years 5 months 5 days
Exercisable
Total	110,417
Warrants Issued in 2015 [Member]
Outstanding
Number of Warrants	3,639,753
Exercisable
Total	3,639,753

STOCKHOLDERS' EQUITY (DEFICIT53

STOCKHOLDERS' EQUITY (DEFICIT) (Details 2) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Prior 2011 Stock Incentive Plan [Member]
Number of options:
Number of Options outstanding, beginning	11,795
Number of Options cancelled, forfeited, expired	(11,795)
Number of Options outstanding, ending		11,795
Weighted Average Exercise Price:
Weighted Average Exercise Price of Options outstanding, beginning	$ 3.05
Weighted Average Exercise Price of Options cancelled, forfeited, expired	$ 3.05
Weighted Average Exercise Price of Options outstanding, ending		$ 3.05
2011 Stock Incentive Option Plan [Member]
Number of options:
Number of Options outstanding, beginning	5,669,000	4,504,000
Number of Options granted		1,180,000
Number of Options exercised	(2,000)
Number of Options cancelled, forfeited, expired	(846,999)	(15,000)
Number of Options outstanding, ending	4,820,001	5,669,000
Number of Options exercisable	4,172,890	2,855,251
Options available for future grant	4,179,999	3,331,000
Weighted Average Exercise Price:
Weighted Average Exercise Price of Options outstanding, beginning	$ 3.68	$ 3.58
Weighted Average Exercise Price of Options granted		4.06
Weighted Average Exercise Price of Options exercised	3.60
Weighted Average Exercise Price of Options cancelled, forfeited, expired	3.97	3.60
Weighted Average Exercise Price of Options outstanding, ending	3.63	3.68
Weighted Average Exercise Price of Options exercisable	$ 3.61	$ 3.55

COMMITMENTS AND CONTINGENCIES54

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Commitments And Contingencies Details Narrative
Monthly commercialization management fee			$ 5,000
Rent expense	$ 124,980	$ 58,981	$ 368,294	$ 163,605

COMMITMENTS AND CONTINGENCIES55

COMMITMENTS AND CONTINGENCIES (Details)	Sep. 30, 2015USD ($)
Future minimum lease payments
2015 (three months)	$ 75,842
2,016	494,969
2,017	470,073
2,018	482,294
2,019	123,875
Total future minimum lease payments due	$ 1,647,053

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jun. 27, 2013	Sep. 30, 2015
Number of shares cancelled	2,504,249
Gain on derecognition of amounts due to related party		$ 418,366
AFH Advisory [Member]
Gain on derecognition of amounts due to related party		394,446
Targeted Medical Pharma Inc [Member]
Number of shares issued		$ 150,000

RELATED PARTY TRANSACTIONS (D57

RELATED PARTY TRANSACTIONS (Details)		9 Months Ended		12 Months Ended
		Sep. 30, 2015USD ($)Number$ / shares		Dec. 31, 2014USD ($)Number$ / shares
Principal Amount Outstanding		$ 16,524,568		$ 11,117,359
Shares Underlying Principal | Number		2,851,871		2,415,613
Less discount		$ (1,190,417)		$ (868,558)
Total		$ 17,714,985
Yutaka Niihara [Member]
Annual Interest Rate		10.00%
Date of Loan		Jan. 29, 2015
Term of Loan		Due on demand
Highest Principal Outstanding		$ 20,000
Amount of Principal Repaid		20,000
Amount of Interest Paid		$ 773
Hope Hospice [Member]
Annual Interest Rate	[1]	8.00%		8.00%
Date of Loan	[1]	Jan. 17, 2012		Jan. 17, 2012
Term of Loan	[1]	Due on demand		Due on demand
Principal Amount Outstanding	[1]	$ 200,000		$ 200,000
Highest Principal Outstanding	[1]	200,000		200,000
Amount of Interest Paid	[1]	$ 8,000		$ 16,000
Hope Hospice [Member]
Annual Interest Rate	[1]	8.00%		8.00%
Date of Loan	[1]	Jun. 14, 2012		Jun. 14, 2012
Term of Loan	[1]	Due on demand		Due on demand
Principal Amount Outstanding	[1]	$ 200,000		$ 200,000
Highest Principal Outstanding	[1]	200,000		200,000
Amount of Interest Paid	[1]	$ 8,000		$ 20,000
Hope Hospice [Member]
Annual Interest Rate	[1]	8.00%		8.00%
Date of Loan	[1]	Jun. 21, 2012		Jun. 21, 2012
Term of Loan	[1]	Due on demand		Due on demand
Principal Amount Outstanding	[1]	$ 100,000		$ 100,000
Highest Principal Outstanding	[1]	100,000		100,000
Amount of Interest Paid	[1]	$ 4,000		$ 10,000
Yutaka Niihara [Member]
Annual Interest Rate	[2],[3]	10.00%		10.00%
Date of Loan	[2],[3]	Dec. 5, 2012		Dec. 5, 2012
Term of Loan	[2],[3]	Due on demand		Due on demand
Principal Amount Outstanding	[2],[3]	$ 126,730		$ 156,730
Highest Principal Outstanding	[2],[3]	1,213,700		1,213,700
Amount of Principal Repaid	[2],[3]	1,086,970		1,056,970
Amount of Interest Paid	[2],[3]	$ 56,722		$ 60,851
Hope Hospice [Member]
Annual Interest Rate	[1]	8.00%		8.00%
Date of Loan	[1]	Feb. 11, 2013		Feb. 11, 2013
Term of Loan	[1]	Due on demand		Due on demand
Principal Amount Outstanding	[1]	$ 50,000		$ 50,000
Highest Principal Outstanding	[1]	50,000		50,000
Amount of Interest Paid	[1]	$ 2,000		$ 4,000
Lan T. Tran [Member]
Annual Interest Rate	[3]	11.00%		11.00%
Date of Loan	[3]	Feb. 10, 2014		Feb. 10, 2014
Term of Loan	[3],[4]	2 years		2 years
Principal Amount Outstanding	[3]	$ 106,976		$ 106,976
Highest Principal Outstanding	[3]	$ 106,976		$ 106,976
Cuc T. Tran [Member]
Annual Interest Rate	[5]	11.00%		11.00%
Date of Loan	[5]	Mar. 5, 2015		Mar. 5, 2014
Term of Loan	[5]	1 years		1 years
Principal Amount Outstanding	[5]	$ 13,160		$ 11,856
Highest Principal Outstanding	[5]	13,160		11,856
Notes payable - related party [Member]
Principal Amount Outstanding		2,466,304		825,562
Highest Principal Outstanding		3,573,274		1,882,532
Amount of Principal Repaid		1,106,970		1,056,970
Amount of Interest Paid		$ 79,495		$ 110,851
Yasushi Nagasaki [Member]
Annual Interest Rate	[3]	10.00%	[2]	10.00%
Date of Loan	[3]	Apr. 7, 2015	[2]	Jun. 29, 2012
Term of Loan	[3]	2 years	[2],[4]	Due on demand
Principal Amount Outstanding	[3]	$ 500,000	[2]	$ 373,000
Highest Principal Outstanding	[3]	500,000	[2]	388,800
Amount of Principal Repaid	[3]			15,800
Amount of Interest Paid	[3]			$ 67,680
Debt conversion price | $ / shares	[3]			$ 3.3
Shares Underlying Principal | Number	[3]			121,461
Convertible notes payable - related party [Member]
Principal Amount Outstanding				$ 373,000
Highest Principal Outstanding		588,800		388,800
Amount of Principal Repaid		1,197,770		15,800
Amount of Interest Paid		$ 79,495		$ 67,680
Shares Underlying Principal | Number		160,787		151,648
Hideki and Eiko Uehara [Member]
Annual Interest Rate	[5]			11.00%
Date of Loan	[5]			Feb. 15, 2014
Term of Loan	[5]			2 years
Principal Amount Outstanding	[5]			$ 133,333
Highest Principal Outstanding	[5]			133,333
Amount of Interest Paid	[5]			14,697
Long-term promissory note payable to related parties [Member]
Principal Amount Outstanding				133,333
Highest Principal Outstanding				133,333
Amount of Interest Paid				$ 14,697
Phillip M. Satow [Member]
Annual Interest Rate	[2]	10.00%		10.00%
Date of Loan	[2]	Jun. 6, 2014		Jun. 6, 2014
Term of Loan	[2]	2 years		2 years
Principal Amount Outstanding	[2]	$ 100,000		$ 100,000
Highest Principal Outstanding	[2]	$ 100,000		$ 100,000
Debt conversion price | $ / shares	[2]	$ 7		$ 7
Shares Underlying Principal | Number	[2]	16,172		15,103
Richard S. Pechter [Member]
Annual Interest Rate	[5]	10.00%		10.00%
Date of Loan	[5]	Jun. 11, 2014		Jun. 11, 2014
Term of Loan	[5]	2 years		2 years
Principal Amount Outstanding	[5]	$ 100,000		$ 100,000
Highest Principal Outstanding	[5]	$ 100,000		$ 100,000
Debt conversion price | $ / shares	[5]	$ 7		$ 7
Shares Underlying Principal | Number	[5]	16,152		15,084
Long-term convertible notes payable - related party [Member]
Principal Amount Outstanding		$ 498,000		$ 200,000
Highest Principal Outstanding		588,800		$ 200,000
Amount of Principal Repaid		$ 90,800
Shares Underlying Principal | Number		138,553		30,187
Notes payable and convertible notes payable - related party [Member]
Principal Amount Outstanding		$ 3,064,304		$ 1,531,895
Highest Principal Outstanding		4,262,074		2,604,665
Amount of Principal Repaid		$ 1,777,770		1,072,770
Amount of Interest Paid				$ 193,228
Shares Underlying Principal | Number		135,557		151,648
Hideki AndEiko Uehara [Member]
Annual Interest Rate	[5]	11.00%
Date of Loan	[5]	Feb. 15, 2014
Term of Loan	[5]	2 years
Principal Amount Outstanding	[5]	$ 133,333
Highest Principal Outstanding	[5]	$ 133,333
Hope Hospice [Member]
Annual Interest Rate	[1]	10.00%
Date of Loan	[1]	Jan. 7, 2015
Term of Loan	[1],[4]	2 years
Principal Amount Outstanding	[1]	$ 100,000
Highest Principal Outstanding	[1]	$ 100,000
James Lee [Member]
Annual Interest Rate	[5]	10.00%
Date of Loan	[5]	Jan. 26, 2015
Term of Loan	[4],[5]	2 years
Principal Amount Outstanding	[5]	$ 50,000
Highest Principal Outstanding	[5]	$ 50,000
Hope Hospice [Member]
Annual Interest Rate	[1]	10.00%
Date of Loan	[1]	Jan. 29, 2015
Term of Loan	[1],[4]	2 years
Principal Amount Outstanding	[1]	$ 30,000
Highest Principal Outstanding	[1]	$ 30,000
Lan T. Tran [Member]
Annual Interest Rate	[3]	10.00%
Date of Loan	[3]	Feb. 9, 2015
Term of Loan	[3],[4]	2 years
Principal Amount Outstanding	[3]	$ 10,000
Highest Principal Outstanding	[3]	$ 10,000
Charles Stark [Member]
Annual Interest Rate	[3]	10.00%
Date of Loan	[3]	Feb. 10, 2015
Term of Loan	[3],[4]	2 years
Principal Amount Outstanding	[3]	$ 10,000
Highest Principal Outstanding	[3]	$ 10,000
IRA Service Trust Co. FBO Peter B. Ludlum [Member]
Annual Interest Rate	[3]	10.00%
Date of Loan	[3]	Feb. 20, 2015
Term of Loan	[3],[4]	2 years
Principal Amount Outstanding	[3]	$ 10,000
Highest Principal Outstanding	[3]	$ 10,000
Yasushi Nagasaki [Member]
Annual Interest Rate	[2],[3]	10.00%
Date of Loan	[2],[3]	May 21, 2015
Term of Loan	[2],[3]	Due on demand
Principal Amount Outstanding	[2],[3]	$ 826,105
Highest Principal Outstanding	[2],[3]	$ 826,105
Yasushi Nagasaki [Member]
Annual Interest Rate	[3]	10.00%
Date of Loan	[3]	Jun. 29, 2012
Term of Loan	[3]	Due on demand
Principal Amount Outstanding	[3]	$ 298,000
Highest Principal Outstanding	[3]	388,800
Amount of Principal Repaid	[3]	$ 90,800
Debt conversion price | $ / shares	[3]	$ 3.3
Shares Underlying Principal | Number	[3]	106,229
Noncurrent Note Yutaka Niihara [Member]
Principal Amount Outstanding		$ 100,000
Highest Principal Outstanding		$ 100,000
Debt conversion price | $ / shares		$ 4.50
Shares Underlying Principal | Number		22,234
[1]	Dr. Niihara is the CEO of Hope Hospice.
[2]	Director
[3]	Officer
[4]	Due on Demand
[5]	Family of Officer/Director

GEOGRAPHIC INFORMATION (Details

GEOGRAPHIC INFORMATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Japan [Member]
Company revenue earned from countries outside of the U.S.
Revenue	$ 48,707	$ 53,757	$ 148,319	$ 132,145
Percentage of revenue (in percent)	63.00%	35.00%	47.00%	41.00%
South Korea [Member]
Company revenue earned from countries outside of the U.S.
Revenue				$ 45,312
Percentage of revenue (in percent)	0.00%	0.00%	0.00%	13.00%
Taiwan [Member]
Company revenue earned from countries outside of the U.S.
Revenue		$ 101,580	$ 110,104	$ 129,310
Percentage of revenue (in percent)	0.00%	65.00%	35.00%	37.00%

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended	9 Months Ended
	Jan. 31, 2016	Sep. 30, 2015	Nov. 19, 2015
Mandatory conversion price percentage		80.00%
Subsequent Event [Member]
Proceeds from issuance of common stock	$ 1,700,000
Common stock issued during period (shares)	377,778
Common stock, price per share	$ 4.50
Reimbursement for attorney fees and expenses			$ 43,476
Mandatory conversion price percentage	80.00%
Subsequent Event [Member] | Research Arrangement [Member]
Termination of obligation	$ 8,500,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)		11 Months Ended
		May. 20, 2016	Sep. 30, 2015	Dec. 31, 2014
Principal Outstanding			$ 17,714,985	$ 11,985,917
Minimum [Member]
Conversion price			$ 3.05
Maximum [Member]
Conversion price			$ 3.60
Promissory Notes [Member]
Principal Outstanding			$ 4,677,350	$ 2,476,950
Subsequent Event [Member]
Principal Outstanding		$ 4,327,212
Subsequent Event [Member] | Convertible Notes [Member]
Principal Outstanding	[1]	$ 749,009
Annual Interest Rate (in percent)	[1]	10.00%
Term of Notes	[1]	Due on demand up to 2 years
Conversion price	[1]	$ 3.60
Subsequent Event [Member] | Convertible Notes [Member]
Principal Outstanding	[2]	$ 1,401,325
Annual Interest Rate (in percent)	[2]	10.00%
Term of Notes	[2]	2 years
Conversion price	[2]	$ 4.50
Subsequent Event [Member] | Convertible Note - related party [Member]
Principal Outstanding	[2]	$ 220,000
Annual Interest Rate (in percent)	[2]	10.00%
Term of Notes	[2]	2 years
Conversion price	[2]	$ 4.50
Subsequent Event [Member] | Promissory Notes [Member]
Principal Outstanding		$ 250,000
Annual Interest Rate (in percent)		11.00%
Term of Notes		6 months
Subsequent Event [Member] | Promissory Notes [Member]
Principal Outstanding	[1]	$ 833,335
Annual Interest Rate (in percent)	[1]	11.00%
Term of Notes	[1]	Due on demand
Subsequent Event [Member] | Promissory Notes - related party [Member]
Principal Outstanding	[1]	$ 263,843
Annual Interest Rate (in percent)	[1]	11.00%
Term of Notes	[1]	Due on demand
Subsequent Event [Member] | Promissory Notes - related party [Member]
Principal Outstanding		$ 859,700
Term of Notes		Due on demand up to 2 years
Subsequent Event [Member] | Promissory Notes - related party [Member] | Minimum [Member]
Annual Interest Rate (in percent)		10.00%
Subsequent Event [Member] | Promissory Notes - related party [Member] | Maximum [Member]
Annual Interest Rate (in percent)		11.00%
[1]	Refinancings of prior notes already outstanding.
[2]	Includes mandatory conversion at the time of an initial public offering at a conversion price equal to 80% of the initial public offering price.

SUBSEQUENT EVENTS (Details 1)

SUBSEQUENT EVENTS (Details 1) - Subsequent Event [Member]	11 Months Ended
	May. 20, 2016USD ($)shares
Principal Amount | $	$ 1,799,999
Number of Shares Issued | shares	400,000
Common Stock [Member]
Principal Amount | $	$ 1,700,000
Number of Shares Issued | shares	377,778
Common Stock - Related Party [Member]
Principal Amount | $	$ 99,999
Number of Shares Issued | shares	22,222

SUBSEQUENT EVENTS (Details 2)

SUBSEQUENT EVENTS (Details 2) - USD ($)	11 Months Ended
	May. 20, 2016	Sep. 30, 2015	Dec. 31, 2014
Principal Outstanding		$ 17,714,985	$ 11,985,917
Subsequent Event [Member]
Principal Outstanding	$ 4,327,212
Subsequent Event [Member] | Secured Loans [Member]
Principal Outstanding	$ 1,295,000
Annual Interest Rate (in percent)	10.00%
Term of Notes	Earlier of closing of new debt financing or May 1, 2017