12. FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

Liabilities measured at fair value on a recurring basis at June 30, 2015, are summarized as follows:

	Level 1		Level 2		Level 3		Total
Fair value of derivatives	$	-	$	12,814,941	$	-	$	12,814,941

Liabilities measured at fair value on a recurring basis at June 30, 2014, are summarized as follows:

	Level 1		Level 2		Level 3		Total
Fair value of derivatives	$	-	$	-	$	-	$	-