XML 30 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
C. Accounting Policies (Tables)
3 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Assets and liabilities measured at fair value on a recurring basis
    Fair Value as of September 30, 2014  
    Level 1     Level 2     Level 3     Total  
Liabilities                        
Derivative Liability - Warrants   $ -     $ -     $ 355     $ 355  
Derivative Liability – Convertible Debt                    -                      -       2,380,028       2,380,028   
Total   $ -     $ -     $ 2,380,383     $ 2,380,383  

 

 

 

    Fair Value as of June 30, 2014  
    Level 1     Level 2     Level 3     Total  
Liabilities                        
Derivative Liability - Warrants   $ -     $ -     $ 355     $ 355  
Derivative Liability – Convertible Debt                    -                      -       2,345,961       2,345,961  
Total   $ -     $ -     $ 2,346,316     $ 2,346,316  

 

The following table presents the fair value reconciliation of Level 3 liabilities measured at fair value on a recurring basis during the three months ended  September 30, 2014:

 

    Fair Value Measurements Using Significant  
    Unobservable Inputs (Level 3)  
          Derivative        
    Derivative     Liability -        
    Liability -     Convertible        
    Warrants     Debt     Total  
Beginning balance, July 1, 2014   $ 355     $ 2,345,961     $ 2,346,316  
Issuance     -       32,000       32,000  
Retirements     -       (253,214 )     (253,214 )
Loss on derivative liability     -        255,281       255,281  
Ending balance, September 30, 2014   $ 355     $ 2,380,028     $ 2,380,383