Derivative Financial Instruments (Warrant Liability) (Tables)

12 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value inputs of derivative financial instruments

Warrants is recorded in the Statement of Comprehensive Income and is estimated using the Lattice option-pricing model using the following assumptions:

	As of June 30,
Inputs into Lattice model for warrants:	2017			2016
Equivalent volatility		63.13	%		75.50	%
Equivalent interest rate		1.13	%		0.50	%
Floor	$	1.15		$	1.15
Stock price	$	2.70		$	1.15
Probability price < strike price		4.70	%		55.90	%
Fair value of call	$	1.49		$	0.79
Probability of fundamental transaction occuring		0	%		5	%

Schedule of Level 3 inputs measured on a recurring basis

The following table summarizes the activity of Level 3 financial instruments measured on a recurring basis for the years ended June 30, 2017 and 2016:

		Warrant Liability
Fair value, June 30, 2015	$	1,195,470
Exercise of common stock warrants		(530,531	)
Change in fair value of warrant liability		52,454
Fair value, June 30, 2016	$	717,393
Exercise of common stock warrants		(694,436	)
Change in fair value of warrant liability		467,543
Fair value, June 30, 2017	$	490,500