FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals 1) (USD $)							1 Months Ended		9 Months Ended
	Mar. 31, 2013	Jun. 30, 2012	Mar. 31, 2012	Jun. 30, 2011	Mar. 31, 2013 Level 1	Jun. 30, 2012 Level 1	Mar. 31, 2011 Level 3	Mar. 31, 2007 Level 3	Mar. 31, 2013 Level 3	Jun. 30, 2012 Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of common stock warrants	$ 2,168,022	$ 918,566	$ 748,811	$ 2,732,253	$ 192,572	$ 141,107			$ 168
Fair value of financial instrument									$ 2,168,022	$ 918,566
Purchase of company's common stock (in shares)							3,900,000	903,955
Valuation method used to determine fair value							Proprietary valuation models	Black-Scholes model
Dividend yield									0.00%
Expected stock price volatility									0.54%
Risk free interest rate									0.11%
Expected life									6 months