OPTIONS, WARRANTS AND STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Sep. 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 to estimate the fair value of stock options using the Black-Scholes option pricing model:

	Three Months	Three Months
	Ended	Ended
	September 30, 2012	September 30, 2011
Risk-free interest rate	0.62% - 0.68%	0.96%
Expected dividend yield	—	—
Expected term	4.5 - 5.5 years	5.5 years
Forfeiture rate	0%	0%
Expected volatility	244.90% - 246.91%	122.33%

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

A summary of option activity as of September 30, 2012 and for the three months then ended is presented below:

Options	Shares		Weighted- Average Exercise Price	Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at July 1, 2012	46,690,000	$	0.062	8.83 years	$	588
Granted	240,000		0.008
Exercised	—	$	—
Forfeited or expired	—	$	—
Outstanding at September 30, 2012	46,930,000	$	0.062	8.59 years	$	2,472
Exercisable at September 30, 2012	16,634,667	$	0.058	8.62 years	$	—

Schedule of Nonvested Share Activity [Table Text Block]

The following table summarizes the warrants outstanding at September 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
	0.01	20,000	08/15/2017
	0.01	50,000	08/20/2017
	0.01	250,000	09/14/2017
		2,395,000