CONVERTIBLE DEBENTURES (Tables)

12 Months Ended

Jun. 30, 2014

CONVERTIBLE DEBENTURE [Abstract]

Assumptions used in determining weighted average fair value of derivative financial liabilities

The following weighted average assumptions were used in determining the fair values of the derivative financial liabilities outstanding at inception:

	2014			2013
Expected life (years)		0.87			0.87
Interest rate		1.10	%		1.08	%
Volatility		80.46	%		73.62	%
Dividend yield		N/A			N/A
Estimated forfeitures		N/A			N/A

The following weighted average assumptions were used in determining the fair values of the derivative financial liabilities as of June 30, 2013:

	2013
Expected life (years)		0.62
Interest rate		0.94	%
Volatility		70.20	%
Dividend yield		N/A
Estimated forfeitures		N/A