Quarterly report pursuant to Section 13 or 15(d)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
Schedule of Cash and Restricted Cash
    March 31, 2017     December 31, 2016  
             
Cash   $ 663,378     $ 781,857  
Restricted cash     1,117,115       275,611  
Total cash and restricted cash shown in the statement of cash flows   $ 1,780,493     $ 1,057,468  
Schedule of property and equipment
    Useful Lives   March 31, 2017     December 31, 2016  
                 
Office furniture and equipment   3 years   $ 340,472     $ 340,472  
Laboratory and other equipment   5 years     321,071        321,071   
Tenant improvements   14 to 39 months     70,592       70,592  
          732,135       732,135  
Less: accumulated depreciation         (536,958 )     (489,433 )
        $ 195,177     $ 242,702