15. SUBSEQUENT EVENT	12 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]
15. SUBSEQUENT EVENT	On July 1, 2014, Holdco amended and restated the Management Services Agreement (the “Agreement”) with Meining Energy. Pursuant to the Agreement, Holdco will provide certain management services in exchange for a management services fee. The contractual start date for the management fee was amended to begin on the first day of the first quarter in which Meining Energy achieves operational break-even, as defined in the Agreement. On August 12, 2014, Meineng Energy received a cash investment of 20,000,000 RMB (approximately $3.2 million) from Wuhu Fuhai-Haoyan Venture Investment, L.P., a branch of Shenzhen Oriental Fortune Capital Co., Ltd., for a post-closing equity position of 8%. Subject to receipt of required governmental approval for this investment, which is expected in October or November 2014, this investment capital will be used to fund ongoing operations and development of the China market, and provides Meineng Energy a 250,000,000 RMB (approximately $42 million) post-closing valuation. Following this investment, the Company’s indirect investment in Meining Energy equals approximately 30%. On March 13, 2013, the Company entered into a Common Stock Purchase Agreement (“Purchase Agreement”) with Aspire Capital Fund, LLC, an Illinois limited liability company (“Aspire Capital”), which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital was committed to purchase up to an aggregate of $10 million of shares of the Company’s common stock over the two-year term of the Purchase Agreement. On August 18, 2014, the Company provided notice to Aspire Capital electing to terminate the Purchase Agreement. On August 27, 2014, the Company completed an underwritten public offering of its common stock at a price to the public of $1.12 per share. The Company sold a total of 13,248,000 shares of its common stock in the offering for aggregate proceeds of approximately $14.8 million. The Company received approximately $13.5 million of net proceeds from the offering, after deducting the underwriting discount and expenses.

15. SUBSEQUENT EVENT

12 Months Ended

Jun. 30, 2014

On July 1, 2014, Holdco amended and restated the Management Services Agreement (the “Agreement”) with Meining Energy. Pursuant to the Agreement, Holdco will provide certain management services in exchange for a management services fee. The contractual start date for the management fee was amended to begin on the first day of the first quarter in which Meining Energy achieves operational break-even, as defined in the Agreement.

On August 12, 2014, Meineng Energy received a cash investment of 20,000,000 RMB (approximately $3.2 million) from Wuhu Fuhai-Haoyan Venture Investment, L.P., a branch of Shenzhen Oriental Fortune Capital Co., Ltd., for a post-closing equity position of 8%. Subject to receipt of required governmental approval for this investment, which is expected in October or November 2014, this investment capital will be used to fund ongoing operations and development of the China market, and provides Meineng Energy a 250,000,000 RMB (approximately $42 million) post-closing valuation. Following this investment, the Company’s indirect investment in Meining Energy equals approximately 30%.

On March 13, 2013, the Company entered into a Common Stock Purchase Agreement (“Purchase Agreement”) with Aspire Capital Fund, LLC, an Illinois limited liability company (“Aspire Capital”), which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital was committed to purchase up to an aggregate of $10 million of shares of the Company’s common stock over the two-year term of the Purchase Agreement. On August 18, 2014, the Company provided notice to Aspire Capital electing to terminate the Purchase Agreement.

On August 27, 2014, the Company completed an underwritten public offering of its common stock at a price to the public of $1.12 per share. The Company sold a total of 13,248,000 shares of its common stock in the offering for aggregate proceeds of approximately $14.8 million. The Company received approximately $13.5 million of net proceeds from the offering, after deducting the underwriting discount and expenses.