FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals) (USD $) Share data in Millions, unless otherwise specified	1 Months Ended
	Mar. 31, 2011	Jun. 30, 2014	Jun. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of common stock warrants		$ 585,209	$ 650,638
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			192,620
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Purchase of company's common stock (in shares)	3.9
Valuation method used to determine fair value	Proprietary valuation models