OPTIONS, WARRANTS AND STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2012

Options Warrants and Stock Based Compensation [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following weighted average assumptions were used for grants during the years ended June 30, 2012 and 2011:

	2012	2011
Risk-free interest rate	0.62% - 1.04%	1.76% - 2.28%
Expected dividend yield	—	—
Expected term	4.75 – 6 years	6 years
Forfeiture rate	0%	0%
Expected volatility	122.20% - 254.99%	128.99% - 136.20%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of option activity under the Company’s stock plans as of June 30, 2012 and 2011 and the changes during the years then ended is presented below:

Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at July1, 2010		—	$	—
Granted		43,100,000		0.065
Exercised		—		—
Forfeited or expired		—		—
Outstanding at June 30, 2011		43,100,000	$	0.065	9.78 years	$	—
Granted		3,590,000		0.025
Exercised		—		—
Forfeited or expired		—		—
Outstanding at June 30, 2012		46,690,000	$	0.062	8.83 years	$	588
Exercisable at June 30, 2012		15,889,668	$	0.060	8.84 years	$	—

Schedule of Nonvested Share Activity [Table Text Block]

The following table summarizes the warrants outstanding at June 30, 2012:

Exercise price		Number		Expiration Date
$	5.85		75,000	08/03/2013
	0.01		500,000	02/10/2017
	0.01		1,000,000	02/17/2017
	0.01		500,000	04/18/2017
			2,075,000