Fair Value Measurement (Tables)

12 Months Ended

Jun. 30, 2017

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

At June 30, 2017 and 2016, the estimated fair values of the liabilities measured on a recurring basis are as follows:

	Fair Value Measurements at
	June 30, 2017:
	(Level 1)		(Level 2)		(Level 3)

Derivative liability – Series B debentures	$	-		-	$	-
Derivative liability – Series C debentures		-		-		32,213
Derivative liability – Warrants		-		-		2,015,354
Total derivatives	$	-	$	-	$	2,047,567

	Fair Value Measurements at
	June 30, 2016:
	(Level 1)		(Level 2)		(Level 3)

Derivative liability – Series B debentures	$	-		-	$	203,030
Derivative liability – Series C debentures		-		-		343,673
Derivative liability – Warrants		-		-		3,197,182
Total derivatives	$	-	$	-	$	3,743,885

Schedule Of Projected Annual Volatility [Table Text Block]

The projected annual volatility for the valuation dates are:

1 Year
9/12/13	87	%
1/24/14	93	%
6/30/14	92	%
6/30/15	62	%
6/30/16	83	%
6/30/17	60	%

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for the years ended June 30, 2015, 2016 and 2017:

	Fair Value Measurement Using Significant
	Unobservable Inputs
	Derivative liability – Series B		Derivative liability – Series C		Derivative liability - warrant
Balance at July 1, 2014	$	5,699,702	$	-	$	5,235,682
Additions during the year		-		1,879,428		-
Change in fair value		(5,332,938)		(1,403,139)		(1,792,928)
Transfer in and/or out of Level 3		-		-		-
Balance at July 1, 2015	$	366,764	$	476,289	$	3,442,754
Additions during the year		-		-		-
Change in fair value		(163,735)		(132,616)		(245,572)
Transfer in and/or out of Level 3		-		-		-
Balance at July 1, 2016	$	203,030	$	343,673	$	3,197,182
Additions during the year		-		-		-
Change in fair value		(203,030)		(311,460)		(1,181,828)
Transfer in and/or out of Level 3		-		-		-
Balance at June 30, 2017	$	-	$	32,213	$	2,015,354