COMMON STOCK WARRANTS AND OPTIONS (Tables)

12 Months Ended

Jun. 30, 2014

Common Stock Warrants and Options [Abstract]

Schedule of exercise prices and expiration dates for warrants outstanding

	Exercise
Warrants	Price			Expiration
Outstanding	Per Share			Date
4,264,000		$	2.6058	September 18, 2016
45,000		$	2.10	December 31, 2017
4,309,000

Schedule of common stock warrant activity

	Warrants
Outstanding at June 30, 2011		15,567,199
Issued		-
Exercised		(7,317	)
Expired		(7,514,263	)
Outstanding at June 30, 2012		8,045,619
Issued		45,000
Exercised		(399,597	)
Expired		(329,314	)
Outstanding at June 30, 2013		7,361,708
Issued		-
Exercised		(2,090,226	)
Expired		(962,482	)
Outstanding at June 30, 2014		4,309,000

Schedule of stock option granted weighted average assumptions

	Year ended
	June 30, 2014
Expected volatility		79	%
Expected life	7 years
Expected dividends		0.00	%
Risk-free interest rate		2.22	%

Schedule of common stock option activity

						Weighted-
				Exercise		Average
	Options			Price		Exercise
	Outstanding			Per Share		Price
Outstanding and exercisable at June 30, 2011		90,666		$	7.50-8	$	7.53
Granted		-			-		-
Expired		(45,333	)	$	7.50-8	$	7.53
Outstanding and exercisable at June 30, 2012		45,333		$	7.50-8	$	7.53
Granted		-			-		-
Expired		(45,333	)	$	7.50-8	$	7.53
Outstanding and exercisable at June 30, 2013		-		$	-	$	-
Granted		120,000		$	2.05	$	2.05
Exercised/vested		-		$	-	$	-
Expired		-		$	-	$	-
Outstanding at June 30, 2014		120,000		$	2.05	$	2.05

Schedule of aggregate intrinsic value for options outstanding

					Weighted Average
Options	Options		Exercise Price Per		Remaining Life		Remaining Life		Intrinsic Value-
Outstanding	Exercisable		Share		Outstanding		Exercisable		Outstanding		Exercisable
120,000		-	$	2.05		6.97		-		-		-
120,000		-				6.97		-		-		-