Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details)

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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Accounts Payable [Line Items]    
Accrued interest payable [1] $ 681,291 $ 817,452
Accrued dividends payable 471,023 451,133
Accrued compensation expense [2] 2,189,158 2,015,277
Other accrued expense 205,801 295,083
Accrued expenses, current $ 3,547,273 $ 3,578,945
[1] Accrued interest payable includes approximately $300,000 and $300,000 of estimated penalties and interest associated with the unpaid payroll taxes as of March 31, 2016 and December 31, 2015, respectively.
[2] Accrued compensation expense includes $1,863,031 and $1,863,031 of unpaid payroll taxes for the period ended March 31, 2016 and December 31, 2015, respectively.