FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of fair value of financial instruments required to be measured at fair value

($ in thousands)
June 30, 2016	Level 1		Level 2		Level 3		Total
Common stock warrant liability, 2.2 million warrants exercisable at $2.6058 from September 17, 2011 through September 17, 2016	$	-	$	-	$	3,739	$	3,739

June 30, 2015		Level 1		Level 2		Level 3		Total
Common stock warrant liability, 3.9 million warrants exercisable at $2.6058 from September 17, 2011 through September 17, 2016	$	-	$	-	$	978	$	978

Schedule of changes in fair value of the company's level 3 financial instruments

	For Year Ended
($ in thousands)	June 30,
	2016			2015
Beginning balance	$	(978	)	$	(585	)
Increase due to change in fair value of warrant liabilities		(5,674	)		(393	)
Reduction due to warrant exercises		2,913			-
Ending balance	$	(3,739	)	$	(978	)