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7. STOCK PURCHASE OPTIONS AND WARRANTS (Tables)
9 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
Schedule of Estimated Fair Value of Stock Warrants and Options
    2012
Expected volatility   106 – 128%
Expected dividends   0%
Expected term   2-5 Years
Risk-free interest rate   0.29 – .78%
Schedule of Warrants
                               
    Number of Warrants     Weighted Average Exercise Price    

Weighted Average

Grant Date Fair Value

   

Expiration Date

(yrs)

    Value if Exercised  
Outstanding  as of June 30, 2012     6,529,311       2.84       3.55       1.95       4,835,028  
Granted     802,500       0.40       0.19       4.20       318,900  
Cancelled/Expired     (245,000 )     0.84                       (205,000 )
Outstanding  as of March 31, 2013     7,086,811       0.70       2.76       4.20       4,948,928