FAIR VALUE OF FINANCIAL INSTRUMENTS - Changes in fair value of the Company's level 3 financial instruments (Details 1) (USD $)	3 Months Ended
	Sep. 30, 2012		Sep. 30, 2011
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of period	$ (918,566)	[1]	$ (2,732,253)	[1]
Purchase, sales, issuance, settlements, or transfers		[1]		[1]
Gain due to change in fair value of warrant liabilities, net	463,133	[1]	1,736,609	[1]
Balance, end of period	$ (455,433)	[1]	$ (995,644)	[1]

[1] (unaudited)