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Derivative Liabilities (Tables)
9 Months Ended
Mar. 31, 2014
Notes to Financial Statements  
Fair value assumptions
    Range
Common stock issuable upon exercise of warrants     416,712
Exercise price     $3.00 - $6.00
Market price of the Company’s common stock     $0.008 - $0.024
Risk free interest rate     0.34% - 0.44%
Dividend yield     0%
Volatility     347.74% - 381.90%
Expected term   1.73 - 3.12 years
Fair Value Hierarchy

   Fair Value Measurement at March 31, 2014
    Level 1    Level 2    Level 3 
Liabilities:               
  Warrant derivative liabilities  $—     $—     $986,905 
Total  $—     $—     $986,905 

 

 

   Fair Value Measurement at June 30, 2013
    Level 1    Level 2    Level 3 
Liabilities:               
  None $—     $—     $— 
Total  $—     $—     $— 

 

Changes in fair value of derivative liabilities
Balance, February 7, 2014   $ 324,642  
  Change in fair value of derivative liabilities     662,263  
Balance, March 31, 2014   $ 986,905