Atossa Therapeutics (ATOS) 10-K 30 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 28, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	ATOSSA GENETICS INC
Entity Central Index Key	1,488,039
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 27,422,532
Trading Symbol	ATOS
Entity Common Stock, Shares Outstanding		38,823,464

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 3,715,895	$ 8,500,718
Restricted cash	275,000	0
Prepaid expenses	193,293	193,964
Inventory, net	0	9,276
Other current assets	110,663	0
Assets of discontinued operations	0	636,239
Total current assets	4,294,851	9,340,197
Furniture and equipment, net	171,568	136,693
Intangible assets, net	1,700,565	1,886,958
Deferred financing costs	0	351,961
Other assets	76,337	48,193
Total assets	6,243,321	11,764,002
Current liabilities:
Accounts payable	814,448	513,045
Accrued expenses	463,676	254,126
Payroll liabilities	1,159,335	959,741
Other current liabilities	64,128	42,228
Liabilities of discontinued operations	0	494,252
Total current liabilities	2,501,587	2,263,392
Deferred rent, net of current portion	0	2,483
Total liabilities	$ 2,501,587	$ 2,265,875
Commitments and contingencies (note 14)
Stockholders' equity
Preferred stock - $.001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding	$ 0	$ 0
Common stock - $.001 par value; 75,000,000 shares authorized, 32,657,257 and 24,564,058 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively	32,657	24,564
Additional paid-in capital	54,643,940	44,648,103
Accumulated deficit	(50,934,863)	(35,174,540)
Total stockholders' equity	3,741,734	9,498,127
Total liabilities and stockholders' equity	$ 6,243,321	$ 11,764,002

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	75,000,000	75,000,000
Common stock, shares issued	32,657,257	24,564,058
Common stock, shares outstanding	32,657,257	24,564,058

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenue
Diagnostic testing service	$ 0	$ 40,138
Product sales	1,758	0
Total revenue	1,758	40,138
Cost of revenue
Product sales	132,411	0
Total cost of revenue	132,411	0
Gross profit (loss) from continuing operations	(130,653)	40,138
Selling expenses	1,421,409	695,930
Research and development expenses	2,359,593	1,110,329
General and administrative expenses	8,846,963	8,052,281
Impairment of intangible assets	0	2,352,626
Total operating expenses	12,627,965	12,211,166
Operating loss	(12,758,618)	(12,171,028)
Other income	431	260
Loss before income taxes	(12,758,187)	(12,170,768)
Income taxes	0	0
Loss from continuing operations	(12,758,187)	(12,170,768)
Loss from discontinued operations (including loss on disposal of $670,943 for the year ended December 31,2015)	(3,002,136)	(2,487,158)
Net loss	$ (15,760,323)	$ (14,657,926)
Loss per common share from continuing operations - basic and diluted (in dollars per share)	$ (0.45)	$ (0.51)
Loss per common share from discontinued operations - basic and diluted (in dollars per share)	(0.10)	(0.10)
Loss per common share - basic and diluted (in dollars per share)	$ (0.55)	$ (0.61)
Weighted average shares outstanding, basic & diluted (in shares)	28,427,523	24,038,578

CONSOLIDATED STATEMENTS OF OPE5

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)	12 Months Ended
	Dec. 31, 2015USD ($)
Gain (Loss) on Disposition of Business	$ 670,943

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2013	$ 10,601,651	$ 18,574	$ 31,099,691	$ (20,516,614)
Balance (in shares) at Dec. 31, 2013		18,574,334
Issuance of common shares and warrants	12,655,745	$ 5,854	12,649,891	0
Issuance of common shares and warrants (in shares)		5,854,234
Issuance of common shares for services	0	$ 23	(23)	0
Issuance of common shares for services (in shares)		22,728
Stock option exercises	200,000	$ 113	199,887
Stock option exercises (in shares)		112,762
Compensation cost for stock options granted to executives and employees	698,657	$ 0	698,657	0
Net loss	(14,657,926)	0	0	(14,657,926)
Balance at Dec. 31, 2014	9,498,127	$ 24,564	44,648,103	(35,174,540)
Balance (in shares) at Dec. 31, 2014		24,564,058
Issuance of common shares and warrants	9,109,274	$ 8,093	9,101,181	0
Issuance of common shares and warrants (in shares)		8,093,202
Compensation cost for stock options granted to executives and employees	894,656	$ 0	894,656	0
Net loss	(15,760,323)	0	0	(15,760,323)
Balance at Dec. 31, 2015	$ 3,741,734	$ 32,657	$ 54,643,940	$ (50,934,863)
Balance (in shares) at Dec. 31, 2015		32,657,260

CONSOLIDATED STATEMENTS OF STO7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Payments of Stock Issuance Costs	$ 1,011,574	$ 1,378,417

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (15,760,323)	$ (14,657,926)
Net loss from discontinued operations	3,002,136	2,487,158
Adjustments to reconcile net loss to net cash used in operating activities:
Compensation cost for stock options granted	840,103	556,288
Impairment of long-lived assets	0	2,352,626
Depreciation and amortization	272,627	480,314
Changes in operating assets and liabilities:
Accounts receivable	0	1,450
Restricted cash	(275,000)	0
Inventory	9,276	(9,276)
Other current assets	(110,663)	0
Prepaid expenses	671	1,662
Security deposits	(28,144)	(11,747)
Accounts payable	301,403	264,903
Payroll liabilities	199,594	379,096
Deferred rent	(2,483)	(45,674)
Product recall liabilities	0	(211,493)
Accrued expenses	209,550	41,916
Other current liabilities	21,900	(91,161)
Net cash used in continuing operating activities	(11,319,353)	(8,461,864)
Net cash used in discontinued operating activities	(2,633,943)	(2,093,586)
Net cash used in operating activities	(13,953,296)	(10,555,450)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of furniture and equipment	(130,735)	158,923
Purchases of intangible assets	0	(163,511)
Net cash used in continuing investing activities	(130,735)	(4,588)
Net cash used in discontinued investing activities	(157,684)	(338,669)
Net cash used in investing activities	(288,419)	(343,257)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from issuance of common stock and warrants	9,456,892	13,155,745
Payments on capital lease obligations	0	(98,481)
Net cash provided by financing activities	9,456,892	13,057,264
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(4,784,823)	2,158,557
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	8,500,718	6,342,161
CASH AND CASH EQUIVALENTS, ENDING OF YEAR	3,715,895	8,500,718
SUPPLEMENTAL DISCLOSURES:
Interest paid	317	15,769
NONCASH INVESTING AND FINANCING ACTIVITIES:
Reclassification of furniture and equipment to prepaid expenses	0	15,000
Furniture and fixtures acquired through capital lease	0	206,702
Amortization of deferred financing costs	$ 355,711	$ 0

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	NOTE 1: NATURE OF OPERATIONS Atossa Genetics Inc. (the “Company”) was incorporated on April 30, 2009 in the State of Delaware. The Company was formed to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company’s fiscal year ends on December 31. In December 2011, the Company established the National Reference Laboratory for Breast Health, Inc., or NRLBH, as a wholly-owned subsidiary. NRLBH was the Company’s CLIA-certified laboratory which performed the Company’s nipple aspirate fluid, or NAF, cytology test on NAF specimens including those collected with the Company’s Mammary Aspiration Specimen Cytology Test ( 81 19 50,000 6 10,000,000 4,000,000 6 As a result of the sale of our laboratory business, we are now focusing our business on our pharmaceutical programs. Our key objective is to advance our pharmaceutical candidates through Phase 2 trials and then evaluate further development through partners or independently. A Phase 2 study of fulvestrant administered via our patented intraductal microcatheters was initiated in March 2016 and a Phase 2 study of AfTG is planned to begin enrollment following resolution of our dispute with Besins Healthcare Luxembourg SARL (“Besins”).

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
Substantial Doubt About Going Concern [Abstract]
Going Concern Disclosure [Text Block]	NOTE 2: GOING CONCERN The Company’s consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred net losses and negative operating cash flows since inception. For the year ended December 31, 2015, the Company recorded a net loss of approximately $ 15.8 12 3.7 1.9 Management’s Plan to Continue as a Going Concern: In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to obtain such resources for the Company include obtaining capital from the sale of its equity securities during 2016 and short-term borrowings from banks, stockholders or other related party(ies), if needed. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually to secure other sources of financing and attain profitable operations.

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 3: SUMMARY OF ACCOUNTING POLICIES The accompanying consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission ("SEC") and in accordance with U.S. generally accepted accounting principles ("GAAP"). The accompanying consolidated financial statements include the financial statements of Atossa Genetics Inc. and its formerly wholly-owned subsidiary, NRLBH. The Company sold a majority of its interest in the NRLBH in December 2015 and all of its activities are reported as discontinued operations in the accompanying consolidated financial statements. All significant intercompany account balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers: Topic 606 In August 2014, FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In February 2016, FASB issued ASU No. 2016-02, Lease Accounting Topic 842. ASU 2016-02 on our consolidated financial statements. Revenue Recognition The Company is not currently recognizing any revenue and all the revenue recognized in 2015 was from testing services performed by the NRLBH. We sold approximately 81% of the capital stock in the NRLBH on December 16, 2015 and as a result all of the revenue is disclosed as discontinued operations for both years ended 2014 and 2015. The Company’s revenue recognition policy is in accordance with GAAP when the following overall fundamental criteria are met: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or the service has been performed, (iii) the Company’s price to the customer is fixed or determinable and (iv) collection of the resulting accounts receivable is reasonably assured. Cost of revenue consists of the costs of laboratory testing services and costs of product sales. Costs of testing services primarily include direct costs of material, direct labor, equipment, and shipping to process the patient samples (including pathology, quality control analysis, and shipping charges to transport tissue sample) in the NRLBH. Costs associated with performing the Company's tests are recorded as tests are processed. Costs recorded for sample processing and shipping charges represent the cost of all the tests processed during the period regardless of whether revenue was recognized with respect to that test. The cost of service from laboratory testing is disclosed as discontinued operations for both years ended 2014 and 2015. Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less. Furniture and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When furniture and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Useful Life Machinery and equipment 3 - 5 Leasehold improvements 2.083 The Company applies the provisions of FASB ASC Topic 360 (ASC 360), “Property, Plant, and Equipment” which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The Company periodically evaluates the carrying value of long-lived assets to be held and used in accordance with ASC 360, at least on an annual basis. ASC 360 requires the impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal. For the years ended December 31, 2015 and 2014, no impairment of property and equipment were recorded. Intangible assets consist of intellectual property and software acquired. Intangibles are reviewed at least annually for impairment or whenever events or changes in circumstances indicate that the carrying value of the assets might not be recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Estimating future cash flows related to an intangible asset involves significant estimates and assumptions. If our assumptions are not correct, there could be an impairment loss or, in the case of a change in the estimated useful life of the asset, a change in amortization expense. We continuously evaluate and reprioritize our research and development pipeline based on the most recent business strategies, and as a result have indefinitely delayed plans to develop and invest further in Acueity patents and technologies for at least the next several years. Because of these changed business plans related to the Acueity assets, we concluded that these assets were partially impaired in 2014 and recorded impairment of $ 2,352,626 Useful Life Patents 7 - 12 Software 3 The Company follows the provisions of ASC Topic 718, Compensation - Stock Compensation The fair value of each option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company’s common stock, and estimation of an appropriate risk-free interest rate. The Company’s expected common stock price volatility assumption is based upon the historical volatility of our stock price. The expected life assumption for stock options grants was based upon the simplified method provided for under ASC 718-10, which averages the contractual term of the options of ten years with the average vesting term of four years. The dividend yield assumption of zero is based upon the fact that the Company has never paid cash dividends and presently has no intention of paying cash dividends in the future. The risk-free interest rate used for each grant was based upon prevailing short-term interest rates over the expected life of the options. The Company has estimated an annualized forfeiture rate of 10.0

RESTRICTED CASH

RESTRICTED CASH	12 Months Ended
	Dec. 31, 2015
Restricted Cash and Investments [Abstract]
Restricted Assets Disclosure [Text Block]	NOTE 4: RESTRICTED CASH Our restricted cash balance of $ 275,000

PREPAID EXPENSES

PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses [Text Block]	NOTE 5: PREPAID EXPENSES December 31, December 31, 2015 2014 Prepaid insurance $ 104,954 $ 87,633 Tradeshows - 50,000 Retainer and security deposits 39,218 25,000 Other 49,121 31,331 Total prepaid expenses $ 193,293 $ 193,964

FURNITURE AND EQUIPMENT

FURNITURE AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 6: FURNITURE AND EQUIPMENT December 31, December 31, 2015 2014 Machinery and equipment $ 206,337 $ 363,053 Leasehold improvements 79,518 93,664 Furniture and equipment 285,855 456,717 Less: accumulated depreciation (114,287) (320,024) Total furniture and equipment, net $ 171,568 $ 136,693 Depreciation expense for the years ended December 31, 2015 and 2014 was $ 73,094 73,096

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 7: INTANGIBLE ASSETS December 31, December 31, 2015 2014 Patents $ 1,630,000 $ 1,630,000 Capitalized license costs 200,000 200,000 Software 113,540 112,688 Intangible assets 1,943,540 1,942,688 Less: accumulated amortization (242,975) (55,730) Total intangible assets, net $ 1,700,565 $ 1,886,958 Intangible assets amounted to $ 1,700,565 1,886,958 31,500 72,200 30,820 11,189 Patents amounted to $ 1,630,000 2,352,626 The amortization period of intangible assets is from 7 12 199,437 407,218 Capitalized license costs consist of fees paid to A5 Genetics KFT, Corporation, pursuant to which the Company received the world-wide (other than the European Union) exclusive license to use the software in the NextCYTE test. Amortization expense related to license costs was $ 16,667 20,000 Years Ending December 31, Amounts 2016 $ 216,110 2017 195,224 2018 169,623 2019 169,015 2020 169,015 Thereafter 781,578 $ 1,700,565

PAYROLL LIABILITIES

PAYROLL LIABILITIES	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 8: PAYROLL LIABILITIES: December 31, December 31, 2015 2014 Accrued bonus payable $ 555,345 $ 655,864 Accrued payroll liabilities 510,179 109,653 Accrued payroll tax liabilities 93,811 194,224 Total payroll liabilities $ 1,159,335 $ 959,741

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	NOTE 9: DISCONTINUED OPERATIONS On December 16, 2015, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with the NRLBH and NRL Investment Group, LLC (the “NRL Group”) pursuant to which the Company sold to the NRL Group all of its shares of common stock in the NRLBH as of that date. Under the terms of the Purchase Agreement, the Company retained its ownership of the Preferred Stock of the NRLBH, which constitutes approximately 19 4,000,000 10,000,000 6 a loss on disposal of assets of $ 670,943 Year Ended Proceeds recognized pursuant to Stock Purchase Agreement $ 50,000 Investment in NRL 11,728 Less carrying value of assets sold and liabilities assumed: Accounts receivable (923,266) Intangible assets (20,949) Property and equipment (314,628) Other assets (62,854) Liabilities assumed by buyer 589,026 Net loss on disposal of assets $ 670,943 For the Years Ended December 31, 2015 2014 Revenue $ 5,523,116 $ 485,816 Cost of revenue (3,539,134) (340,658) Gross profit 1,983,982 145,158 Expenses: Selling expenses (1,303,425) (575,775) Research and development expenses (1,012,392) (1,467,136) General and administrative expenses (1,665,840) (573,637) Loss on disposal (670,943) - Exit and disposal expenses (399,399) - Other (income) expense, net 65,881 (15,768) Net loss from discontinued operations $ (3,002,136) $ (2,487,158) December 31, 2014 Accounts receivable $ 297,958 Prepaid expenses 53,243 Inventory 30,511 Property and equipment, net 220,839 Intangible assets, net 33,688 Assets of discontinued operations $ 636,239 Accounts payable $ 81,312 Accrued expenses 190,735 Payroll liabilities 96,964 Lease obligations 125,241 Liabilities of discontinued operations $ 494,252

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10: STOCKHOLDERS’ EQUITY The Company is authorized to issue a total of 85,000,000 75,000,000 0.001 10,000,000 0.001 750,000 0.001 On May 19, 2014, the Company adopted a stockholder rights agreement which provides that all stockholders of record on May 26, 2014 received a non-taxable distribution of one preferred stock purchase right for each share of the Company’s common stock held by such stockholder. Each right is attached to and trades with the associated share of common stock. The rights will become exercisable only if one of the following occurs: (1) a person becomes an “Acquiring Person” by acquiring beneficial ownership of 15 2.0 15.00 30.00 2014 Public Offering of Common Stock and Warrants On January 29, 2014, the Company closed a public offering of 5,834,234 2.40 14.0 3.00 6.00 Placement Agent Fees In connection with the 2014 Public Offering, the Company paid Dawson James Securities, Inc. (the “Placement Agent”), a cash fee equal to 7 980,151 175,027 3 175,027 3.00 980,151 121,707 Fair Value Considerations Warrants The 2014 Warrants are exercisable at any time commencing after January 29, 2014 (the “Initial Exercise Date”). Subject to the call right described above, the 2014 Warrants shall expire and no longer be exercisable on the fifth anniversary of the Initial Exercise Date (the “Expiration Date”). The 2014 Warrants cannot be exercised on a cashless basis. There are no redemption features embodied in the 2014 Warrants and they have met the conditions for equity classification. Fair Value Consideration The Company’s accounting for the issuance of the 2014 Warrants required the estimation of fair values of the financial instruments. The development of fair values of financial instruments requires the selection of appropriate methodologies and the estimation of often subjective assumptions. The Company selected the valuation techniques based upon consideration of the types of assumptions that market participants would likely consider in exchanging the financial instruments in market transactions. The 2014 Warrants were valued using a Black-Scholes-Merton Valuation Technique because it embodies all of the requisite assumptions (including trading volatility, estimated terms and risk free rates) necessary to assess the fair value of these instruments. 834,986 0.72 121,707 0.70 Fair January 29, 2014 Value 2014 Investor Placement Indexed shares 1,166,849 175,027 Exercise price $ 3.00 $ 3.00 Significant assumptions: Stock price 1 $ 2.50 $ 2.47 Remaining term 3 5 years 5 years Risk free rate 2 1.45 % 1.42 % Expected volatility 3 37.96 % 37.95 % 2015 Issuance of Additional Shares to Aspire Capital During the first quarter of 2015, we sold a total of 2,653,199 4,292,349 On May 26, 2015, we entered into a new common stock purchase agreement with Aspire Capital Fund, LLC, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $ 25.0 On November 11, 2015, we terminated the May 26, 2015 agreement with Aspire and entered into a new common stock purchase which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $ 25.0 6,086,207 2015 Offering of Common Stock and Pre-Funded Warrants In June 2015, the Company entered into a Placement Agent Agreement with Roth Capital Partners, LLC. and Dawson James Securities, Inc. (the “2015 Placement Agents”), pursuant to which the Company issued and sold an aggregate of 1,454,003 1.15 3,610,997 1.14 5.2 577,790 0.01 Outstanding Warrants 6,033,426 Outstanding Exercise Expiration Date 2011 private placement 4,252,050 $ 1.25 - 1.60 June 23, 2016 Acueity warrants 325,000 5.00 September 30, 2017 2014 public offering 1,166,849 3.00 January 29, 2019 Placement agent fees for Company’s offerings 242,027 2.12 – 12.43 March - November, 2018 Outside consulting 47,500 $ 4.24 January 14, 2018 6,033,426

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 11: NET LOSS PER SHARE Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding. Potential common shares consist of shares issuable upon the exercise of stock options and warrants. Because the inclusion of potential common shares would be anti-dilutive for all periods presented, diluted net loss per common share is the same as basic net loss per common share. Year Ended December 31, 2015 2014 Numerator Net loss from continuing operations $ (12,758,187) $ (12,170,768) Net loss from discontinued operations (3,002,136) (2,487,158) Net Loss $ (15,760,323) $ (14,657,926) Denominator Weighted average common share outstanding used to compute net loss per share, basic and diluted 28,427,523 24,038,578 Net loss per share of common stock, basic and diluted: Net loss per share from continuing operations $ (0.45) $ (0.51) Net loss per share from discontinued operations (0.10) (0.10) Net loss per share $ (0.55) $ (0.61) Year Ended 2015 2014 Options to purchase common stock 3,613,944 3,675,634 Warrants to purchase common stock 6,033,426 6,033,426 Total 9,647,370 9,709,060

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 12: INCOME TAXES The Company accounts for income taxes using the asset and liability method, under which deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Year Ended December 31, 2015 2014 Expected federal income tax benefit $ (6,015,321) $ (4,983,700) Share-based compensation 194,676 36,100 Other permanent items 17,947 9,000 Effect of change in valuation allowance 5,788,496 4,938,600 Other 14,202 - Actual federal income tax benefit $ - $ - The components of net deferred tax assets are as follows: As of December 31, 2015 2014 Deferred tax assets, current: Allowance for doubtful accounts $ - $ 191,900 Accrued bonuses 165,642 228,100 Obsolete inventory 35,426 48,400 Accrued vacation 31,896 30,400 Deferred rent - 900 Valuation allowance, current (232,964) (499,700) Net deferred tax asset, current - - Deferred tax assets, long term: Net operating loss carryforwards 15,840,922 9,772,300 Intangible assets, net 768,232 841,800 Share-based compensation 851,521 732,400 Allowance for loss on fixed assets 53,819 53,800 Contribution, carryforward 272 300 Valuation allowance, long term (17,481,629) (11,397,400) Deferred tax asset, long term 33,137 3,200 Deferred tax liabilities Other (33,137) (3,200) Net deferred tax asset, long term - - Net deferred tax asset $ - $ - The Company has incurred net operating losses from inception. At December 31, 2015, the Company had domestic federal net operating loss carryforwards of approximately $ 46,590,946 17,481,629 11,397,400 Based on an assessment of all available evidence including, but not limited to the Company’s limited operating history in its core business and lack of profitability, uncertainties of the commercial viability of its technology, the impact of government regulation and healthcare reform initiatives, and other risks normally associated with biotechnology companies, the Company has concluded that it is more likely than not that these net operating loss carryforwards and credits will not be realized and, as a result, a full valuation allowance has been recorded against the Company’s deferred income tax assets. The Company files income tax returns in the U.S. The Company is subject to tax examinations for the 2011 tax year and beyond. The Company has no unrecognized tax positions and does not believe there will be any material changes in its unrecognized tax positions over the next 12 months. The Company has not incurred any interest or penalties related to unrecognized tax positions. In the event that the Company is assessed interest or penalties at some point in the future, they will be classified in the financial statements as general and administrative expense.

CONCENTRATION OF CREDIT RISK

CONCENTRATION OF CREDIT RISK	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	NOTE 13: CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 3,465,895 8,250,718

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 14: COMMITMENTS AND CONTINGENCIES Lease Commitments Operating Leases Year Ending December 31, Amount 2016 $ 250,000 2017 - 2018 - 2019 - 2020 - Total minimum lease payments $ 250,000 The total rent expense for the years ending December 31, 2015 and 2014 was $ 234,322 149,174 A5 Software Development Commitment On June 10, 2013 the Company entered into an irrevocable license and service agreement with A5 Genetics KFT, Corporation (“A5 Genetics”), pursuant to which the Company received the world-wide (other than the European Union) exclusive license to the software used in the NextCYTE test. The Company has the right to prosecute patents related to this software, two of which the Company has filed in the United States. The patent applications have been assigned to the Company. The Company paid a one-time fee of $ 100,000 100,000 1.2 50 65 Besins Healthcare Luxembourg SARL Agreement On May 14, 2015, the Company entered into an Intellectual Property License Agreement with Besins Healthcare Luxembourg SARL. The agreement provides the Company with an exclusive worldwide license to develop and commercialize Besins’ patented gel formulation of 4-Hydroxytamoxifen, or Afimoxifene Gel, for the potential treatment and prevention of hyperplasia of the breast. The agreement requires that the Company pay a royalty of 8 9 5,000,000 20,000,000 The agreement automatically expires on a country-by-country basis fifteen years after the first commercial sale of Afimoxifene Gel in the particular country. The Agreement may be terminated (i) by either party upon a material breach of the agreement that is not cured by the breaching party, (ii) by mutual agreement of the parties, (iii) by the Company at its discretion if it elects to stop developing or commercializing Afimoxifene Gel, (iv) by Besins on a country-by-country basis or indication-by-indication basis if the Company fails to commercialize or commence commercial sales within a specified time, or (v) by Besins if Atossa fails to accomplish any aspect of the development plan within six months of target date set forth in the development plan. The development plan covers an 18-month period and is required to be updated by the Company every six months during the term of the agreement. Cambridge Major Laboratories Agreement On July 25, 2015, the Company entered into a manufacturing and quality agreements with AAIPharma Services Corp/ Cambridge Major Laboratories, Inc. (AAI/CML) for the manufacturing of a clinical supply for 4-Hydroxytamoxifen, the active pharmaceutical ingredient (API) in Atossa's leading drug candidate, Afimoxifene Gel. As of December 31, 2015, we have incurred $ 375,000 . Columbia University Agreement On February 29, 2016, the Company entered into a Company sponsored agreement with Columbia University Medical Center (CUMC) related to the ATOS-2015-007 clinical study of intraductal administration of fulvestrant in patients with DCIS and invasive breast cancer, which CUMC is conducting with Dr. Sheldon Feldman as the principal investigator. Under this agreement, the Company is obligated to pay to CUMC non-refundable start-up fees of approximately $23,000, patient enrollment fees of approximately $ 15,000 30 30,000 25 Litigation and Contingencies On October 10, 2013, a putative securities class action complaint, captioned Cook v. Atossa Genetics, Inc On February 14, 2014, the Court appointed plaintiffs Miko Levi, Bandar Almosa and Gregory Harrison (collectively, the “Levi Group”) as lead plaintiffs, and approved their selection of co-lead counsel and liaison counsel. The Court also amended the caption of the case to read In re Atossa Genetics, Inc. Securities Litigation. No. 2:13-cv-01836-RSM. An amended complaint was filed on April 15, 2014. The Company and other defendants filed motions to dismiss the amended complaint on May 30, 2014. The plaintiffs filed briefs in opposition to these motions on July 11, 2014. The Company replied to the opposition brief on August 11, 2014. On October 6, 2014 the Court granted defendants’ motion dismissing all claims against Atossa and all other defendants. The Court’s order provided plaintiffs with a deadline of October 26, 2014 to file a motion for leave to amend their complaint and the plaintiffs did not file such a motion by that date. On October 30, 2014, the Court entered a final order of dismissal. On November 3, 2014, plaintiffs filed a notice of appeal with the Court and have appealed the Court’s dismissal order to the U.S. Court of Appeals for the Ninth Circuit. On February 11, 2015, plaintiffs filed their opening appellate brief. Defendants’ filed their answering brief on April 13, 2015, and plaintiffs filed their reply brief on May 18, 2015. A hearing for the appeal has not been set. The Company believes this lawsuit is without merit and plans to defend itself vigorously; however, failure by the Company to obtain a favorable resolution of the claims set forth in the complaint could have a material adverse effect on the Company’s business, results of operations and financial condition. Currently, the amount of such material adverse effect cannot be reasonably estimated, and no provision or liability has been recorded for these claims as of December 31, 2015. The costs associated with defending and resolving the lawsuit and ultimate outcome cannot be predicted. These matters are subject to inherent uncertainties and the actual cost, as well as the distraction from the conduct of the Company’s business, will depend upon many unknown factors and management’s view of these may change in the future. On January 28, 2016, the Company filed a complaint in the United States District Court for the District of Delaware captioned Atossa Genetics Inc. v. Besins Healthcare Luxembourg SARL and injunctive relief. On March 7, 2016, Besins responded to our complaint by denying our claims and issuing counterclaims based on breach of contract, fraud and negligent misrepresentation .

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 15: STOCK BASED COMPENSATION Stock Options and Incentive Plan On September 28, 2010, the Board of Directors approved the adoption of the 2010 Stock Option and Incentive Plan, or the 2010 Plan, to provide for the grant of equity-based awards to employees, officers, non-employee directors and other key persons providing services to the Company. Awards of incentive options may be granted under the 2010 Plan until September 2020. No other awards may be granted under the 2010 Plan after the date that is 10 years from the date of stockholder approval. An aggregate of 1,000,000 January 1, Number of 2012 450,275 2013 516,774 2014 742,973 2015 983,362 2016 1,306,290 Total additional shares 3,999,674 The Company granted options to purchase 1,885,822 1,049,440 1,306,290 Compensation costs associated with the Company’s stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock based compensation expense of $ 840,103 556,288 Year Ended December 31, 2015 2014 General and administrative $ 747,255 $ 556,288 Research and development 67,475 - Selling 25,373 - Total stock compensation expense $ 840,103 $ 556,288 Employees Executives & Directors Fair value of common stock on date of grant $ 0.79 – 1.59 $ 0.62 – 1.59 $ 0.66 – 1.25 Exercise price of the options $ 0.96 – 1.88 $ 0.76 – 1.88 $ 0.79 – 1.49 Expected life of the options (years) 5.31 – 6.13 6.06 6.06 – 6.11 Dividend yield 0.00 % 0.00 % 0.00 % Expected volatility 107.78 – 115.00 % 107.57 – 113.56 % 105.69 – 111.28 % Risk-free interest rate 1.64 – 1.81 % 1.70 – 1.74 % 1.72 – 1.81 % Expected forfeiture per year (%) 10.00 % 10.00 % 10.00 % Weighted average fair value of the options per unit $ 1.25 $ 1.50 $ 0.96 Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2015 3,675,634 $ 2.86 $ 344,000 Granted 1,845,822 1.43 - Forfeited (1,557,512) 1.78 63,223 Expired (350,000) 5.00 - Outstanding as of December 31, 2015 3,613,944 2.40 8.40 $ - Exercisable as of December 31, 2015 1,726,781 3.14 7.80 $ - Vested and expected to vest (1) 3,391,660 $ 2.45 8.34 $ - (1) vested shares and unvested shares after a forfeiture rate is applied At December 31, 2015, there were 1,907,163 1,593,528 2.62 Issuance of Restricted Common Stock and Stock Options for Directors’ and Executives’ Compensation On May 6, 2014, options to purchase a total of 15,000 1.22 665,000 1.22 In May 2014, 200,000 1.25 vest 25% at the end of the first year and vest quarterly thereafter over the following three years In June 2014, 200,000 1.41 vest 25% at the end of the first year and vest quarterly thereafter over the following three years. In September 2014, 200,000 1.86 vest 25% at the end of the first year and vest quarterly thereafter over the following three years In December 2014, 200,000 vest 25% at the end of the first year and vest quarterly thereafter over the following three years During the 2015 annual meeting, options to purchase 475,000 275,000 200,000 1.88 In May 2015, 200,000 1.44 vest 25% at the end of the first year and vest quarterly thereafter over the following three years In May 2015, 100,000 1.49 vest 25% at the end of the first year and vest quarterly thereafter over the following three years In October 2015, 200,000 0.79 vest 25% at the end of the first year and vest quarterly thereafter over the following three years In September, 2015, in connection with Mr. Youmans’ promotion to the Chief Operating Officer, Mr. Youmans was awarded an option to purchase a total of 50,000 0.76 fair market value on the date of grant. The option will vest quarterly over a four-year period and will expire one year after Mr. Youmans departure on February 2017.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 16: SUBSEQUENT EVENTS All subsequent events requiring recognition as of December 31, 2015 have been incorporated into these consolidated financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events”, except as follows: Subsequent to January 1, 2016, and through March 30, 2016 the Company has sold a total of 6,086,207 2,153,583

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The accompanying consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission ("SEC") and in accordance with U.S. generally accepted accounting principles ("GAAP"). The accompanying consolidated financial statements include the financial statements of Atossa Genetics Inc. and its formerly wholly-owned subsidiary, NRLBH. The Company sold a majority of its interest in the NRLBH in December 2015 and all of its activities are reported as discontinued operations in the accompanying consolidated financial statements. All significant intercompany account balances and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers: Topic 606 In August 2014, FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In February 2016, FASB issued ASU No. 2016-02, Lease Accounting Topic 842. ASU 2016-02 on our consolidated financial statements.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company is not currently recognizing any revenue and all the revenue recognized in 2015 was from testing services performed by the NRLBH. We sold approximately 81 The Company’s revenue recognition policy is in accordance with GAAP when the following overall fundamental criteria are met: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or the service has been performed, (iii) the Company’s price to the customer is fixed or determinable and (iv) collection of the resulting accounts receivable is reasonably assured.
Cost of Sales, Policy [Policy Text Block]	Cost of Revenue Cost of revenue consists of the costs of laboratory testing services and costs of product sales. Costs of testing services primarily include direct costs of material, direct labor, equipment, and shipping to process the patient samples (including pathology, quality control analysis, and shipping charges to transport tissue sample) in the NRLBH. Costs associated with performing the Company's tests are recorded as tests are processed. Costs recorded for sample processing and shipping charges represent the cost of all the tests processed during the period regardless of whether revenue was recognized with respect to that test. The cost of service from laboratory testing is disclosed as discontinued operations for both years ended 2014 and 2015.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.
Property, Plant and Equipment, Policy [Policy Text Block]	Furniture and Equipment Furniture and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When furniture and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Useful Life Machinery and equipment 3 - 5 Leasehold improvements 2.083 The Company applies the provisions of FASB ASC Topic 360 (ASC 360), “Property, Plant, and Equipment” which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The Company periodically evaluates the carrying value of long-lived assets to be held and used in accordance with ASC 360, at least on an annual basis. ASC 360 requires the impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal. For the years ended December 31, 2015 and 2014, no impairment of property and equipment were recorded.
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets Intangible assets consist of intellectual property and software acquired. Intangibles are reviewed at least annually for impairment or whenever events or changes in circumstances indicate that the carrying value of the assets might not be recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Estimating future cash flows related to an intangible asset involves significant estimates and assumptions. If our assumptions are not correct, there could be an impairment loss or, in the case of a change in the estimated useful life of the asset, a change in amortization expense. We continuously evaluate and reprioritize our research and development pipeline based on the most recent business strategies, and as a result have indefinitely delayed plans to develop and invest further in Acueity patents and technologies for at least the next several years. Because of these changed business plans related to the Acueity assets, we concluded that these assets were partially impaired in 2014 and recorded impairment of $ 2,352,626 Useful Life Patents 7 - 12 Software 3
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Share-Based Payments The Company follows the provisions of ASC Topic 718, Compensation - Stock Compensation The fair value of each option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company’s common stock, and estimation of an appropriate risk-free interest rate. The Company’s expected common stock price volatility assumption is based upon the historical volatility of our stock price. The expected life assumption for stock options grants was based upon the simplified method provided for under ASC 718-10, which averages the contractual term of the options of ten years with the average vesting term of four years. The dividend yield assumption of zero is based upon the fact that the Company has never paid cash dividends and presently has no intention of paying cash dividends in the future. The risk-free interest rate used for each grant was based upon prevailing short-term interest rates over the expected life of the options. The Company has estimated an annualized forfeiture rate of 10.0

SUMMARY OF ACCOUNTING POLICIE26

SUMMARY OF ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Property, Plant and Equipment Useful Life [Table Text Block]	Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: Useful Life Machinery and equipment 3 - 5 Leasehold improvements 2.083
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Amortization is computed using the straight-line method over the estimate useful lives of the assets as follows: Useful Life Patents 7 - 12 Software 3

PREPAID EXPENSES (Tables)

PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	Prepaid expenses consisted of the following: December 31, December 31, 2015 2014 Prepaid insurance $ 104,954 $ 87,633 Tradeshows - 50,000 Retainer and security deposits 39,218 25,000 Other 49,121 31,331 Total prepaid expenses $ 193,293 $ 193,964

FURNITURE AND EQUIPMENT (Tables

FURNITURE AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Furniture and equipment consisted of the following: December 31, December 31, 2015 2014 Machinery and equipment $ 206,337 $ 363,053 Leasehold improvements 79,518 93,664 Furniture and equipment 285,855 456,717 Less: accumulated depreciation (114,287) (320,024) Total furniture and equipment, net $ 171,568 $ 136,693

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	Intangible assets consisted of the following: December 31, December 31, 2015 2014 Patents $ 1,630,000 $ 1,630,000 Capitalized license costs 200,000 200,000 Software 113,540 112,688 Intangible assets 1,943,540 1,942,688 Less: accumulated amortization (242,975) (55,730) Total intangible assets, net $ 1,700,565 $ 1,886,958
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Future estimated amortization expenses as of December 31, 2015 for the five succeeding years and thereafter is as follows: Years Ending December 31, Amounts 2016 $ 216,110 2017 195,224 2018 169,623 2019 169,015 2020 169,015 Thereafter 781,578 $ 1,700,565

PAYROLL LIABILITIES (Tables)

PAYROLL LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Payroll liabilities consisted of the following: December 31, December 31, 2015 2014 Accrued bonus payable $ 555,345 $ 655,864 Accrued payroll liabilities 510,179 109,653 Accrued payroll tax liabilities 93,811 194,224 Total payroll liabilities $ 1,159,335 $ 959,741

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	a loss on disposal of assets of $ 670,943 Year Ended Proceeds recognized pursuant to Stock Purchase Agreement $ 50,000 Investment in NRL 11,728 Less carrying value of assets sold and liabilities assumed: Accounts receivable (923,266) Intangible assets (20,949) Property and equipment (314,628) Other assets (62,854) Liabilities assumed by buyer 589,026 Net loss on disposal of assets $ 670,943
Disposal of Consolidate Statements of Operations and Comprehensive Loss [Table Text Block]	For the Years Ended December 31, 2015 2014 Revenue $ 5,523,116 $ 485,816 Cost of revenue (3,539,134) (340,658) Gross profit 1,983,982 145,158 Expenses: Selling expenses (1,303,425) (575,775) Research and development expenses (1,012,392) (1,467,136) General and administrative expenses (1,665,840) (573,637) Loss on disposal (670,943) - Exit and disposal expenses (399,399) - Other (income) expense, net 65,881 (15,768) Net loss from discontinued operations $ (3,002,136) $ (2,487,158)
Disposal of Assets and Liabilities Discontinued Operations [Table Text Block]	The assets and liabilities of the NRLBH are presented as held for disposal in the Consolidated Balance Sheet as of December 31, 2014. There were no assets and liabilities recorded in discontinued operations as of December 31, 2015. The carrying amount of assets and liabilities are as follows: December 31, 2014 Accounts receivable $ 297,958 Prepaid expenses 53,243 Inventory 30,511 Property and equipment, net 220,839 Intangible assets, net 33,688 Assets of discontinued operations $ 636,239 Accounts payable $ 81,312 Accrued expenses 190,735 Payroll liabilities 96,964 Lease obligations 125,241 Liabilities of discontinued operations $ 494,252

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	As of December 31, 2015, warrants to purchase 6,033,426 Outstanding Exercise Expiration Date 2011 private placement 4,252,050 $ 1.25 - 1.60 June 23, 2016 Acueity warrants 325,000 5.00 September 30, 2017 2014 public offering 1,166,849 3.00 January 29, 2019 Placement agent fees for Company’s offerings 242,027 2.12 – 12.43 March - November, 2018 Outside consulting 47,500 $ 4.24 January 14, 2018 6,033,426
Warrants 2014 and Placement Agent Warrants [Member]
Stockholders' Equity Note [Abstract]
Schedule of Fair Value of Warrants [Table Text Block]	The following tables reflect assumptions used to determine the fair value of the 2014 Warrants: Fair January 29, 2014 Value 2014 Investor Placement Indexed shares 1,166,849 175,027 Exercise price $ 3.00 $ 3.00 Significant assumptions: Stock price 1 $ 2.50 $ 2.47 Remaining term 3 5 years 5 years Risk free rate 2 1.45 % 1.42 % Expected volatility 3 37.96 % 37.95 %

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table presents the computation of net loss per share: Year Ended December 31, 2015 2014 Numerator Net loss from continuing operations $ (12,758,187) $ (12,170,768) Net loss from discontinued operations (3,002,136) (2,487,158) Net Loss $ (15,760,323) $ (14,657,926) Denominator Weighted average common share outstanding used to compute net loss per share, basic and diluted 28,427,523 24,038,578 Net loss per share of common stock, basic and diluted: Net loss per share from continuing operations $ (0.45) $ (0.51) Net loss per share from discontinued operations (0.10) (0.10) Net loss per share $ (0.55) $ (0.61)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following table sets forth the number of potential common shares excluded from the calculation of net loss per diluted share for the years ended December 31, 2015 and 2014: Year Ended 2015 2014 Options to purchase common stock 3,613,944 3,675,634 Warrants to purchase common stock 6,033,426 6,033,426 Total 9,647,370 9,709,060

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The benefit for income taxes differs from the benefit computed by applying the federal statutory rate to loss before income taxes as follows: Year Ended December 31, 2015 2014 Expected federal income tax benefit $ (6,015,321) $ (4,983,700) Share-based compensation 194,676 36,100 Other permanent items 17,947 9,000 Effect of change in valuation allowance 5,788,496 4,938,600 Other 14,202 - Actual federal income tax benefit $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The components of net deferred tax assets are as follows: As of December 31, 2015 2014 Deferred tax assets, current: Allowance for doubtful accounts $ - $ 191,900 Accrued bonuses 165,642 228,100 Obsolete inventory 35,426 48,400 Accrued vacation 31,896 30,400 Deferred rent - 900 Valuation allowance, current (232,964) (499,700) Net deferred tax asset, current - - Deferred tax assets, long term: Net operating loss carryforwards 15,840,922 9,772,300 Intangible assets, net 768,232 841,800 Share-based compensation 851,521 732,400 Allowance for loss on fixed assets 53,819 53,800 Contribution, carryforward 272 300 Valuation allowance, long term (17,481,629) (11,397,400) Deferred tax asset, long term 33,137 3,200 Deferred tax liabilities Other (33,137) (3,200) Net deferred tax asset, long term - - Net deferred tax asset $ - $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating Leases of Lessee Disclosure [Table Text Block]	The future minimum lease payments due subsequent to December 31, 2015 under all non-cancelable operating and capital leases for the next five years are as follows: Operating Leases Year Ending December 31, Amount 2016 $ 250,000 2017 - 2018 - 2019 - 2020 - Total minimum lease payments $ 250,000

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The following table presents the automatic additions to the 2010 Plan since inception pursuant to the “evergreen” terms of the 2010 Plan: January 1, Number of 2012 450,275 2013 516,774 2014 742,973 2015 983,362 2016 1,306,290 Total additional shares 3,999,674
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Year Ended December 31, 2015 2014 General and administrative $ 747,255 $ 556,288 Research and development 67,475 - Selling 25,373 - Total stock compensation expense $ 840,103 $ 556,288
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The following table presents information concerning stock option grants for the year ended December 31, 2015: Employees Executives & Directors Fair value of common stock on date of grant $ 0.79 – 1.59 $ 0.62 – 1.59 $ 0.66 – 1.25 Exercise price of the options $ 0.96 – 1.88 $ 0.76 – 1.88 $ 0.79 – 1.49 Expected life of the options (years) 5.31 – 6.13 6.06 6.06 – 6.11 Dividend yield 0.00 % 0.00 % 0.00 % Expected volatility 107.78 – 115.00 % 107.57 – 113.56 % 105.69 – 111.28 % Risk-free interest rate 1.64 – 1.81 % 1.70 – 1.74 % 1.72 – 1.81 % Expected forfeiture per year (%) 10.00 % 10.00 % 10.00 % Weighted average fair value of the options per unit $ 1.25 $ 1.50 $ 0.96
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2015 3,675,634 $ 2.86 $ 344,000 Granted 1,845,822 1.43 - Forfeited (1,557,512) 1.78 63,223 Expired (350,000) 5.00 - Outstanding as of December 31, 2015 3,613,944 2.40 8.40 $ - Exercisable as of December 31, 2015 1,726,781 3.14 7.80 $ - Vested and expected to vest (1) 3,391,660 $ 2.45 8.34 $ - (1) vested shares and unvested shares after a forfeiture rate is applied

NATURE OF OPERATIONS (Details T

NATURE OF OPERATIONS (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 16, 2015	Dec. 31, 2015
Nature Of Operations [Line Items]
Sale Of Stock Percentage	81.00%
Sale of Stock, Percentage of Ownership after Transaction	19.00%
Sale of Stock, Consideration Received on Transaction	$ 50,000
Monthly earn-out payments percentage of gross revenue	6.00%
Maximum gross revenue for Monthly earn-out payments	$ 10,000,000
Right to sell preferred stock after fours years	$ 4,000,000
National Reference Laboratory for Breast Health, Inc [Member]
Nature Of Operations [Line Items]
Percentage of gross sale		6.00%

GOING CONCERN (Details Textual)

GOING CONCERN (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Income (Loss) Attributable to Parent	$ 15,760,323	$ 14,657,926
Cash and Cash Equivalents, at Carrying Value, Total	3,715,895	8,500,718	$ 6,342,161
Working Capital		1,900,000
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	$ (11,319,353)	$ (8,461,864)

SUMMARY OF ACCOUNTING POLICIE39

SUMMARY OF ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015
Machinery and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Machinery and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years 30 days

SUMMARY OF ACCOUNTING POLICIE40

SUMMARY OF ACCOUNTING POLICIES (Details 1)	12 Months Ended
	Dec. 31, 2015
Patents [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life (in years)	12 years
Patents [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life (in years)	7 years
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life (in years)	3 years

SUMMARY OF ACCOUNTING POLICIE41

SUMMARY OF ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 0	$ 2,352,626
Estimated Annualized Forfeiture Rate	10.00%

RESTRICTED CASH (Details Textua

RESTRICTED CASH (Details Textual) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Cash Equivalents	$ 275,000	$ 0

PREPAID EXPENSES (Details)

PREPAID EXPENSES (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets [Line Items]
Prepaid insurance	$ 104,954	$ 87,633
Tradeshows	0	50,000
Retainer and security deposits	39,218	25,000
Other	49,121	31,331
Total prepaid expenses	$ 193,293	$ 193,964

FURNITURE AND EQUIPMENT (Detail

FURNITURE AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Machinery and equipment	$ 206,337	$ 363,053
Leasehold improvements	79,518	93,664
Furniture and equipment	285,855	456,717
Less: accumulated depreciation	(114,287)	(320,024)
Total furniture and equipment, net	$ 171,568	$ 136,693

FURNITURE AND EQUIPMENT (Deta45

FURNITURE AND EQUIPMENT (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation Expense	$ 73,094	$ 73,096

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Patents	$ 1,630,000	$ 1,630,000
Capitalized license costs	200,000	200,000
Software	113,540	112,688
Intangible assets	1,943,540	1,942,688
Less: accumulated amortization	(242,975)	(55,730)
Total intangible assets, net	$ 1,700,565	$ 1,886,958

INTANGIBLE ASSETS (Details 1)

INTANGIBLE ASSETS (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
2,016	$ 216,110
2,017	195,224
2,018	169,623
2,019	169,015
2,020	169,015
Thereafter	781,578
Total intangible assets, net	$ 1,700,565	$ 1,886,958

INTANGIBLE ASSETS (Details Text

INTANGIBLE ASSETS (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net, Total	$ 1,700,565	$ 1,886,958
Finite-Lived Patents, Gross	1,630,000	1,630,000
Impairment of intangible assets	0	2,352,626
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 199,437	407,218
Minimum [Member] | Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years
Maximum [Member] | Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	12 years
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 30,820	11,189
Finite-lived Intangible Assets Acquired	$ 72,200
Finite-Lived Intangible Asset, Useful Life	3 years
Company Website [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 31,500
Software License Arrangement [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 16,667	$ 20,000

PAYROLL LIABILITIES (Details)

PAYROLL LIABILITIES (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Payroll Liabilities [Line Items]
Accrued bonus payable	$ 555,345	$ 655,864
Accrued payroll liabilities	510,179	109,653
Accrued payroll tax liabilities	93,811	194,224
Total payroll liabilities	$ 1,159,335	$ 959,741

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 16, 2015	Dec. 31, 2015	Dec. 31, 2014
Proceeds recognized pursuant to Stock Purchase Agreement	$ 50,000
Less carrying value of assets sold and liabilities assumed:
Liabilities assumed by buyer		$ 0	$ 494,252
Net loss on disposal of assets		670,943
NRL Investment Group, LLC [Member]
Proceeds recognized pursuant to Stock Purchase Agreement		50,000
Investment in NRL		11,728
Less carrying value of assets sold and liabilities assumed:
Accounts receivable		(923,266)
Intangible assets		(20,949)
Property and equipment		(314,628)
Other assets		(62,854)
Liabilities assumed by buyer		589,026
Net loss on disposal of assets		$ 670,943

DISCONTINUED OPERATIONS (Deta51

DISCONTINUED OPERATIONS (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Expenses:
Loss on disposal	$ 670,943
Net loss from discontinued operations	(3,002,136)	$ (2,487,158)
Assets of discontinued operations	0	636,239
Liabilities of discontinued operations	0	494,252
National Reference Laboratory for Breast Health, Inc [Member]
Revenue	5,523,116	485,816
Cost of revenue	(3,539,134)	(340,658)
Gross profit	1,983,982	145,158
Expenses:
Selling expenses	(1,303,425)	(575,775)
Research and development expenses	(1,012,392)	(1,467,136)
General and administrative expenses	(1,665,840)	(573,637)
Loss on disposal	(670,943)	0
Exit and disposal expenses	(399,399)	0
Other (income) expense, net	65,881	(15,768)
Net loss from discontinued operations	$ (3,002,136)	(2,487,158)
Accounts receivable		297,958
Prepaid expenses		53,243
Inventory		30,511
Property and equipment, net		220,839
Intangible assets, net		33,688
Assets of discontinued operations		636,239
Accounts payable		81,312
Accrued expenses		190,735
Payroll liabilities		96,964
Lease obligations		125,241
Liabilities of discontinued operations		$ 494,252

DISCONTINUED OPERATIONS (Deta52

DISCONTINUED OPERATIONS (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 16, 2015	Dec. 31, 2015	Dec. 31, 2014
Sale of Stock, Percentage of Ownership after Transaction	19.00%
Right to sell preferred stock after fours years	$ 4,000,000
Maximum gross revenue for Monthly earn-out payments	$ 10,000,000
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total		$ 670,943
National Reference Laboratory for Breast Health, Inc [Member]
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total		$ (670,943)	$ 0
Percentage of gross sale		6.00%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details)	1 Months Ended
	Jan. 29, 2014$ / sharesshares
Placement Agent Warrants [Member]
Share Based Payment Award Stock Warrants Valuation Assumptions [Line Items]
Indexed shares | shares	175,027
Exercise price	$ 3
Placement Agent Warrants [Member] | Fair Value, Inputs, Level 3 [Member]
Significant assumptions:
Remaining term	5 years
Expected volatility	37.95%
Placement Agent Warrants [Member] | Fair Value, Inputs, Level 2 [Member]
Significant assumptions:
Risk free rate	1.42%
Placement Agent Warrants [Member] | Fair Value, Inputs, Level 1 [Member]
Significant assumptions:
Stock price	$ 2.47
Investor Warrants 2014 [Member]
Share Based Payment Award Stock Warrants Valuation Assumptions [Line Items]
Indexed shares | shares	1,166,849
Exercise price	$ 3
Investor Warrants 2014 [Member] | Fair Value, Inputs, Level 3 [Member]
Significant assumptions:
Remaining term	5 years
Expected volatility	37.96%
Investor Warrants 2014 [Member] | Fair Value, Inputs, Level 2 [Member]
Significant assumptions:
Risk free rate	1.45%
Investor Warrants 2014 [Member] | Fair Value, Inputs, Level 1 [Member]
Significant assumptions:
Stock price	$ 2.50

STOCKHOLDERS' EQUITY (Details 1

STOCKHOLDERS' EQUITY (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2015	May. 19, 2014
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	6,033,426
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 15
2011 Private Placement [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	4,252,050
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Jun. 23, 2016
2011 Private Placement [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.60
2011 Private Placement [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.25
Acuiety Warrants [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	325,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 5
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Sep. 30, 2017
2014 Public Offering [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	1,166,849
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Jan. 29, 2019
Placement Agent Fee [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	242,027
Placement Agent Fee [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 12.43
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Nov. 30, 2018
Placement Agent Fee [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.12
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Mar. 31, 2018
Outside consulting firm [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Outstanding	47,500
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4.24
Expiration Dates of Class of Warrant or Right Not Date From Which Warrants or Rights Exercisable	Jan. 14, 2018

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
	May. 26, 2015	Jan. 29, 2014	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	May. 19, 2014
Stockholder's Equity [Line Items]
Total Shares Authorized				85,000,000
Common Stock, Shares Authorized				75,000,000	75,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001	$ 0.001
Preferred Stock, Shares Authorized				10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001	$ 0.001
Fees and Commissions, Other				$ 1,011,574	$ 1,378,417
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				6,033,426
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 15
Percentage of Common Stock Outstanding						2.00%
Entitled to Receive Worth of Common Stock						$ 30
Proceeds from Issuance of Common Stock				$ 9,456,892	$ 13,155,745
Series A Preferred Stock [Member]
Stockholder's Equity [Line Items]
Preferred Stock, Shares Authorized				750,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001
2014 Public Offering [Member]
Stockholder's Equity [Line Items]
Shares, Issued		5,834,234
Shares Issued, Price Per Share		$ 2.40
Proceeds from Issuance or Sale of Equity		$ 14,000,000
Stockholders Equity Note, Stock Split				Each unit consists of one share of common stock and a warrant to purchase 0.20 of a share of common stock (the 2014 Investor Warrants).
Warrants Callable Per Share		$ 6
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 3
2015 Public Offering [Member]
Stockholder's Equity [Line Items]
Share Price				$ 1.15
Issuance Of Prefunded Warrants				3,610,997
Prefunded Warrants Price				$ 1.14
Net Proceeds From Issuance Of Prefunded Warrants				$ 5,200,000
Prefunded Warrants Exercise Price				$ 0.01
Deferred Offering Costs				$ 577,790
Warrant [Member] | 2014 Public Offering [Member]
Stockholder's Equity [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights		3
Securities Purchase Agreements, Investor Warrants [Member]
Stockholder's Equity [Line Items]
Fair Value of Warrants (in dollars per warrant)		$ 0.72
Initial Fair Value of Warrants		$ 834,986
Placement Agent1 [Member]
Stockholder's Equity [Line Items]
Cash Fee Equals to Percentage of Gross Proceeds from Sale of Common Stock and Warrants		7.00%
Fees and Commissions, Other		$ 980,151
Placement Agent1 [Member] | Warrant [Member]
Stockholder's Equity [Line Items]
Fees and Commissions, Other		$ 980,151
Exercise Price of Common Stock		$ 3
Option Indexed To Issuer's Equity, Indexed Shares		121,707
Percentage of Shares Sold in Offering		3.00%
Placement Agent Warrants [Member]
Stockholder's Equity [Line Items]
Option Indexed To Issuer's Equity, Indexed Shares		175,027
Placement Agent [Member] | Warrant [Member]
Stockholder's Equity [Line Items]
Fair Value of Warrants (in dollars per warrant)		$ 0.70
Initial Fair Value of Warrants		$ 121,707
Option Indexed To Issuer's Equity, Indexed Shares		175,027
Aspire Capital Fund, Llc [Member]
Stockholder's Equity [Line Items]
Stock Issued During Period, Shares, New Issues			2,653,199
Proceeds from Issuance of Common Stock	$ 25,000,000		$ 4,292,349
Shares Agreed to Register in Common stock	6,086,207
Stock Purchase Agreement, Stock committed	$ 25,000,000
Beneficial Owner [Member]
Stockholder's Equity [Line Items]
Equity Method Investment, Ownership Percentage						15.00%
Roth Capital Partners LLC And Dawson James Securities Inc [Member] | 2015 Placement Agents [Member]
Stockholder's Equity [Line Items]
Shares, Issued				1,454,003

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Numerator
Net loss from continuing operations	$ (12,758,187)	$ (12,170,768)
Net loss from discontinued operations	(3,002,136)	(2,487,158)
Net Loss	$ (15,760,323)	$ (14,657,926)
Denominator
Weighted average common share outstanding used to compute net loss per share, basic and diluted (in shares)	28,427,523	24,038,578
Net loss per share of common stock, basic and diluted:
Net loss per share from continuing operations (in dollars per share)	$ (0.45)	$ (0.51)
Net loss per share from discontinued operations (in dollars per share)	(0.10)	(0.10)
Net loss per share (in dollars per share)	$ (0.55)	$ (0.61)

NET LOSS PER SHARE (Details 1)

NET LOSS PER SHARE (Details 1) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9,647,370	9,709,060
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,613,944	3,675,634
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,033,426	6,033,426

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Deferred
Expected federal income tax benefit	$ (6,015,321)	$ (4,983,700)
Share-based compensation	194,676	36,100
Other permanent items	17,947	9,000
Effect of change in valuation allowance	5,788,496	4,938,600
Other	14,202	0
Actual federal income tax benefit	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets, current:
Allowance for doubtful accounts	$ 0	$ 191,900
Accrued bonuses	165,642	228,100
Obsolete inventory	35,426	48,400
Accrued vacation	31,896	30,400
Deferred rent	0	900
Valuation allowance, current	(232,964)	(499,700)
Net deferred tax asset, current	0	0
Deferred tax assets, long term:
Net operating loss carryforwards	15,840,922	9,772,300
Intangible assets, net	768,232	841,800
Share-based compensation	851,521	732,400
Allowance for loss on fixed assets	53,819	53,800
Contribution, carryforward	272	300
Valuation allowance, long term	(17,481,629)	(11,397,400)
Deferred tax asset, long term	33,137	3,200
Deferred tax liabilities
Other	(33,137)	(3,200)
Net deferred tax asset, long term	0	0
Net deferred tax asset	$ 0	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Line Items]
Operating Loss Carryforwards, Description	2029 through 2035
Income Tax Examination, Description	The Company files income tax returns in the U.S. The Company is subject to tax examinations for the 2011 tax year and beyond.
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 46,590,946
Deferred Tax Assets, Valuation Allowance	$ 17,481,629	$ 11,397,400

CONCENTRATION OF CREDIT RISK (D

CONCENTRATION OF CREDIT RISK (Details Textual) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Concentration Risk [Line Items]
Cash, FDIC Insured Amount	$ 250,000
Cash, Uninsured Amount	$ 3,465,895	$ 8,250,718

COMMITMENTS AND CONTINGENCIES62

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2015USD ($)
Operating Leased Assets [Abstract]
2,016	$ 250,000
2,017	0
2,018	0
2,019	0
2,020	0
Total minimum lease payments	$ 250,000

COMMITMENTS AND CONTINGENCIES63

COMMITMENTS AND CONTINGENCIES (Details Textual)	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 29, 2016USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
COMMITMENTS AND CONTINGENCIES [Line Items]
Other Research And Development And General And Administration Expenses			$ 234,322	$ 149,174
Minimum [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Percentage of Royalty Payment			8.00%
Maximum [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Percentage of Royalty Payment			9.00%
Milestone Payment One [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Other Commitment, Total			$ 5,000,000
Milestone Payment Two [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Other Commitment, Total			20,000,000
Cambridge Major Laboratories Agreement [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Manufacturing Costs			$ 375,000
Subsequent Event [Member] | Columbia University Agreement [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Non Refundable Start Up Fees	$ 23,000
Patient Enrollment Fees	$ 15,000
Number Of Patients	30
Other Pass Through Costs	$ 30,000
Additional Fee Per Patient	$ 4,600
Anticipated Screen Failure Rate	25.00%
A5 Genetics KFT [Member]
COMMITMENTS AND CONTINGENCIES [Line Items]
Cost of Services, Licenses and Services					$ 100,000
Additional License Fee Amount Paid		$ 100,000
Additional License Fee Obligation Amount		1,200,000
Royalty Expense		50
Cost of Services		$ 65

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details)	12 Months Ended
	Dec. 31, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	3,999,674
Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	450,275
Plan 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	516,774
Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	742,973
Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	983,362
Plan 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	1,306,290

STOCK BASED COMPENSATION (Det65

STOCK BASED COMPENSATION (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 840,103	$ 556,288
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	747,255	556,288
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	67,475	0
Selling expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 25,373	$ 0

STOCK BASED COMPENSATION (Det66

STOCK BASED COMPENSATION (Details 2)	12 Months Ended
	Dec. 31, 2015$ / shares
Employees [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Dividend yield	0.00%
Expected forfeiture per year (%)	10.00%
Weighted average fair value of the options per unit	$ 1.25
Employees [Member] | Minimum [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Fair value of common stock on date of grant	0.79
Exercise price of the options	$ 0.96
Expected life of the options (years)	5 years 3 months 22 days
Expected volatility	107.78%
Risk free rate	1.64%
Employees [Member] | Maximum [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Fair value of common stock on date of grant	$ 1.59
Exercise price of the options	$ 1.88
Expected life of the options (years)	6 years 1 month 17 days
Expected volatility	115.00%
Risk free rate	1.81%
Directors [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Dividend yield	0.00%
Expected forfeiture per year (%)	10.00%
Weighted average fair value of the options per unit	$ 0.96
Directors [Member] | Minimum [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Fair value of common stock on date of grant	0.66
Exercise price of the options	$ 0.79
Expected life of the options (years)	6 years 22 days
Expected volatility	105.69%
Risk free rate	1.72%
Directors [Member] | Maximum [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Fair value of common stock on date of grant	$ 1.25
Exercise price of the options	$ 1.49
Expected life of the options (years)	6 years 1 month 10 days
Expected volatility	111.28%
Risk free rate	1.81%
Executives and Officers [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Expected life of the options (years)	6 years 22 days
Dividend yield	0.00%
Expected forfeiture per year (%)	10.00%
Weighted average fair value of the options per unit	$ 1.50
Executives and Officers [Member] | Minimum [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Fair value of common stock on date of grant	0.62
Exercise price of the options	$ 0.76
Expected volatility	107.57%
Risk free rate	1.70%
Executives and Officers [Member] | Maximum [Member]
Share Based Payment Award Stock Options Valuation Assumption [Line Items]
Fair value of common stock on date of grant	$ 1.59
Exercise price of the options	$ 1.88
Expected volatility	113.56%
Risk free rate	1.74%

STOCK BASED COMPENSATION (Det67

STOCK BASED COMPENSATION (Details 3)	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share Based Compensation Stock Options Activity [Line Items]
Number of Underlying Shares, Outstanding as of January 1, 2015 (in shares) | shares	3,675,634
Number of Underlying Shares, Granted (in shares) | shares	1,845,822
Number of Underlying Shares, Forfeited (in shares) | shares	(1,557,512)
Number of Underlying Shares, Expired (in shares) | shares	(350,000)
Number of Underlying Shares, Outstanding as of December 31, 2015 (in shares) | shares	3,613,944
Number of Underlying Shares, Exercisable as of December 31, 2015 (in shares) | shares	1,726,781
Number of Underlying Shares, Vested and expected to vest (in shares) | shares	3,391,660	[1]
Weighted-Average Exercise Price Per Share, Outstanding as of January 1, 2015 (in dollars per share) | $ / shares	$ 2.86
Weighted-Average Exercise Price Per Share, Granted (in dollars per share) | $ / shares	1.43
Weighted-Average Exercise Price Per Share, Forfeited (in dollars per share) | $ / shares	1.78
Weighted-Average Exercise Price Per Share, Expired (in dollars per share) | $ / shares	5
Weighted-Average Exercise Price Per Share, Outstanding as of December 31, 2015 (in dollars per share) | $ / shares	2.4
Weighted-Average Exercise Price Per Share, Exercisable as of December 31, 2015 (in dollars per share) | $ / shares	3.14
Weighted-Average Exercise Price Per Share, Vested and expected to vest (in dollars per share) | $ / shares	$ 2.45	[1]
Weighted-Average Contractual Life Remaining in Years, Outstanding as of December 31, 2015	8 years 4 months 24 days
Weighted-Average Contractual Life Remaining in Years, Exercisable as of December 31, 2015	7 years 9 months 18 days
Weighted-Average Contractual Life Remaining in Years, Vested and expected to vest	8 years 4 months 2 days	[1]
Aggregate Intrinsic Value, Outstanding as of January 1, 2015 | $	$ 344,000
Aggregate Intrinsic Value, Granted (in dollars) | $	0
Aggregate Intrinsic Value, Forfeited (in dollars) | $	63,223
Aggregate Intrinsic Value, Expired (in dollars) | $	0
Aggregate Intrinsic Value, Outstanding as of December 31, 2015 | $	0
Aggregate Intrinsic Value, Exercisable as of December 31, 2015 | $	0
Aggregate Intrinsic Value, Vested and expected to vest | $	$ 0	[1]
[1]	vested shares and unvested shares after a forfeiture rate is applied

STOCK BASED COMPENSATION (Det68

STOCK BASED COMPENSATION (Details Textual) - USD ($)

May. 06, 2014

Oct. 31, 2015

May. 31, 2015

Sep. 30, 2014

Jun. 30, 2014

May. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Jan. 01, 2016

Sep. 30, 2015

Sep. 28, 2010

Stock-based Compensation [Line Items]

Share-based Compensation

$ 840,103

$ 556,288

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

1,845,822

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

2 years 7 months 13 days

Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares

1,907,163

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 1,593,528

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price

$ 3.14

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 1.43

Stock Option and Incentive Plan 2010 [Member]

Stock-based Compensation [Line Items]

Shares held in Employee Stock Option Plan, Suspense Shares

1,000,000

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

1,049,440

Stock Options Were Granted Outside Of 2010 Plan [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

200,000

200,000

200,000

200,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value

$ 1.86

$ 1.41

$ 1.25

$ 0.96

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights

vest 25% at the end of the first year and vest quarterly thereafter over the following three years

vest 25% at the end of the first year and vest quarterly thereafter over the following three years.

vest 25% at the end of the first year and vest quarterly thereafter over the following three years

vest 25% at the end of the first year and vest quarterly thereafter over the following three years

Subsequent Event [Member]

Stock-based Compensation [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

1,306,290

Non-Employee Director [Member] | Stock Option One [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

15,000

Non-Employee Director [Member] | Stock Option and Incentive Plan 2010 [Member]

Stock-based Compensation [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

1 year

Non-Employee Director [Member] | Stock Option and Incentive Plan 2010 [Member] | Stock Option One [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value

$ 1.22

Senior Officers [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

665,000

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

4 years

Senior Officers [Member] | Stock Option and Incentive Plan 2010 [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value

$ 1.22

Senior Officers [Member] | Stock Option Plan 2010 [Member]

Stock-based Compensation [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

475,000

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 1.88

Senior Officers [Member] | Dr. Quay [Member] | Stock Option Plan 2010 [Member]

Stock-based Compensation [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

275,000

Senior Officers [Member] | Mr. Guse [Member] | Stock Option Plan 2010 [Member]

Stock-based Compensation [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

200,000

Employees And Directors [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

[1]

1,885,822

Vice President of Sales and Marketing [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

200,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value

$ 1.44

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights

vest 25% at the end of the first year and vest quarterly thereafter over the following three years

Senior Director of Medical Affairs [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

100,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value

$ 1.49

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights

vest 25% at the end of the first year and vest quarterly thereafter over the following three years

Senior Vice President of Global Regulatory Affairs and Quality Assurance [Member]

Stock-based Compensation [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross

200,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value

$ 0.79

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights

vest 25% at the end of the first year and vest quarterly thereafter over the following three years

Chief Operating Officer [Member] | Stock Option and Incentive Plan 2010 [Member]

Stock-based Compensation [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

50,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price

$ 0.76

[1]

vested shares and unvested shares after a forfeiture rate is applied

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	Nov. 11, 2015	Dec. 31, 2015	Dec. 31, 2014	Mar. 30, 2016
Proceeds from Issuance of Common Stock		$ 9,456,892	$ 13,155,745
Common Stock, Shares, Issued		32,657,257	24,564,058
Aspire Capital Fund, Llc [Member]
Proceeds from Issuance of Common Stock	$ 2,153,583
Aspire Capital Fund, Llc [Member] | Subsequent Event [Member]
Common Stock, Shares, Issued				6,086,207