FAIR VALUE OF FINANCIAL INSTRUMENTS - Changes in fair value of the Company level 3 financial instruments (unaudited) (Details 1) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			$ (650,638)	$ (918,566)
Gain due to change in fair value of warrant liabilities, net	(37,896)	(403,635)	181,201	59,498
Ending balance	$ (469,437)	$ (859,068)	$ (469,437)	$ (859,068)