PRIVATE PLACEMENT FINANCING 2016 (Details Textual) - USD ($) |
1 Months Ended | 12 Months Ended | |
---|---|---|---|
May 26, 2016 |
May 31, 2016 |
Sep. 30, 2016 |
|
Registration Rights Agreement [Member] | |||
Private Placement [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 16,482,082 | ||
Investor's Subscription Agreement [Member] | |||
Private Placement [Line Items] | |||
Percentage of shares Purchased by Investors | 75.00% | ||
Series E Warrant [Member] | |||
Private Placement [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 7,063,748 | 705,425 | |
Terms Of Warrants | (i) at any time during the term of the Series E Warrants, we may reduce the then-current exercise price to any amount and for any period of time deemed appropriate by our Board of Directors (the Board); and (ii) certain of the Series E Warrants provide that they shall not be exercisable in the event and to the extent that the exercise thereof would result in the holder of the Series E Warrant, together with its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the holders, would be deemed to beneficially own more than 4.99% of the Common Stock; provided, however, the holder, upon notice to us, may increase or decrease the ownership limitation, provided that any increase is limited to a maximum of 9.99% of the Companys Common Stock, and any increase in the ownership limitation will not become effective until the 61st day after delivery of such notice. | ||
Proceeds from Issuance of Common Stock | $ 308,976 | ||
Private Placement 2016 [Member] | |||
Private Placement [Line Items] | |||
Stock Issued During Period, Shares, New Issues | 9,418,334 | 9,418,334 | |
Share Price | $ 0.36 | ||
Proceeds from Issuance of Common Stock | $ 3,390,600 | ||
Private Placement 2016 [Member] | Maxim Group LLC [Member] | |||
Private Placement [Line Items] | |||
Underwriting Fees, Percentage | 8.20% | ||
Proceeds from Issuance of Common Stock | $ 2,084,000 | ||
Payments of Stock Issuance Costs | $ 170,888 | ||
Private Placement 2016 [Member] | Series E Warrant [Member] | |||
Private Placement [Line Items] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 0.75 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.4380 |