STOCK OPTIONS AND WARRANTS (Tables)

12 Months Ended

Jun. 30, 2012

Fiscal Year 2012 Warrants

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of significant assumptions used to calculate the fair market value of a warrant

	2012
Risk-free interest rate		0.15	%
Dividend yield		0	%
Volatility factor		105	%
Expected life (months)		14

Summary of common stock warrants issued and outstanding

	Warrants			Weighted Average Share Price		Aggregate intrinsic value		Weighted average remaining contractual life(years)
Outstanding at year ended June 30, 2009		10,343,131		$	1.99	$	45,375		5.59
Granted		6,938,462			1.16
Exercised		(5,166,465	)		0.94
Expired		(1,050,000	)		4.05
Outstanding at year ended June 30, 2010		11,065,128		$	1.25	$	1,168,000		3.93
Granted		—			—
Exercised		(7,106,435	)		1.20
Expired		(100,000	)		4.00
Outstanding at year ended June 30, 2011		3,858,693		$	1.26	$	11,737,345		3.03
Granted		10,000,000			3.50
Exercised		(430,000	)		0.90
Expired		—			—
Outstanding at year ended June 30, 2012		13,428,693		$	2.94		—		1.08

Schedule of warrants outstanding and exercisable

Warrants outstanding and exercisable as of June 30, 2012

Exercise Price	Outstanding Number of Shares		Remaining Life		Exercisable Number of Shares
$0.90		2,810,000		2 years		2,810,000
$0.98		10,833		2 years		10,833
$1.58		207,860		3 years		207,860
$3.50		10,000,000		Less than1 year		—
$4.00		400,000		2 years		400,000
		13,428,693				3,428,693

Warrants outstanding and exercisable as of June 30, 2011

Exercise Price	Outstanding Number of Shares		Remaining Life		Exercisable Number of Shares
$0.90		3,240,000		3 years		3,240,000
$0.98		10,833		3 years		10,833
$1.58		207,860		4 years		207,860
$4.00		400,000		3 years		400,000
		3,858,693				3,858,693

Fiscal Year 2010 Warrants | Equity Purchase Transaction

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of significant assumptions used to calculate the fair market value of a warrant before and after modification of the warrant

	Before Modification			After Modification
Risk-free interest rate		2.63	%		2.63	%
Dividend yield		0	%		0	%
Volatility factor		127	%		127	%
Remaining term (years)		5.49			5.49

Fiscal Year 2010 Warrants | Convertible Debenture Transaction

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of significant assumptions used to calculate the fair market value of a warrant before and after modification of the warrant

	Before Modification			After Modification
Risk-free interest rate		2.63	%		2.63	%
Dividend yield		0	%		0	%
Volatility factor		125	%		125	%
Remaining term (years)		5.80			5.80

Fiscal Year 2010 Warrants | Equity Transaction

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of significant assumptions used to calculate the fair market value of a warrant before and after modification of the warrant

Risk-free interest rate	2.14	%
Dividend yield	0	%
Volatility factor	118	%
Expected term (years)	4.5

Fiscal Year 2010 Warrants | Securities Purchase Agreement

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of significant assumptions used to calculate the fair market value of a warrant before and after modification of the warrant

Risk-free interest rate	0.41	%	2.49	%
Dividend yield	0	%	0	%
Volatility factor	118	%	118	%
Remaining term	1.5		5.5

Stock options

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of information about options

	2012		2011		2010
Number of options granted		4,273,461		2,906,000		7,614,000
Compensation expense recognized	$	5,024,825	$	2,175,625	$	1,578,792
Compensation cost capitalized		1,745,344		973,730		—
Weighted average fair value of options outstanding	$	2.09	$	1.85	$	0.91

Schedule of significant assumptions used to compute the fair market values of employee and director stock options granted

	2012			2011			2010
Risk-free interest rate		0.11 - 0.91	%		1.11 - 2.68	%		0.17 - 3.58	%
Dividend yield		0	%		0	%		0	%
Volatility factor		105 - 129	%		91 - 146	%		58 - 178	%
Expected life (years)		0.25 - 3.25			0.9 - 6.0			0.23 - 5.0

Summary of employee stock options issued and outstanding

	Options			Weighted Average Share Price		Aggregate intrinsic value		Weighted average remaining contractual life (years)
Outstanding at year ended June 30, 2009		2,219,707		$	3.27	$	45,375		1.76
Granted		7,614,000			0.83
Exercised		(220,000	)		0.63
Forfeited		(130,000	)		2.05
Expired		(1,434,947	)		4.10
Outstanding at year ended June 30, 2010		8,048,760		$	0.91	$	2,589,600		6.20
Granted		2,906,520			4.15
Exercised		(858,613	)		1.10
Forfeited		(438,053	)		0.90
Expired		(383,760	)		2.24
Outstanding at year ended June 30, 2011		9,274,854		$	1.85	$	23,558,086		5.65
Granted		4,273,461			2.57
Exercised		(804,999	)		0.83
Forfeited		(248,000	)		5.51
Options outstanding at year ended June 30, 2012		12,495,316		$	2.09	$	1,145,800		4.62
Options exercisable at year ended June 30, 2012		4,697,261		$	1.81	$	498,925		4.47

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of June 30, 2012

Exercise Price	Outstanding Number of Shares		Remaining Life	Exercisable Number of Shares
$0.01 - 1.00		40,000	1 year or less		40,000
$0.01 - 1.00		3,626,668	2 years		1,640,834
$0.01 - 1.00		1,843,461	5 years		—
$1.01 - 2.00		1,271,000	2 years		1,150,667
$1.01 - 2.00		30,000	5 years		—
$1.01 - 2.00		750,667	8 years		540,667
$2.01 - 3.00		77,000	5 years		—
$2.01 - 3.00		280,000	8 years		195,000
$3.01 - 4.00		990,000	4 years		—
$3.01 - 4.00		511,000	8 years		303,833
$4.01 - 5.00		1,183,000	4 years		—
$4.01 - 5.00		1,562,520	9 years		631,260
$5.01 - 6.00		100,000	1 year or less		100,000
$5.01 - 6.00		110,000	9 years		50,000
$6.01 - 7.00		30,000	9 years		15,000
$7.01 - 8.00		90,000	9 years		30,000
		12,495,316			4,697,261

Options outstanding and exercisable as of June 30, 2011

Exercise Price	Outstanding Number of Shares		Remaining Life	Exercisable Number of Shares
$0.01 - 0.49		85,000	1 year		85,000
$0.01 - 0.49		3,550,000	3 years		1,227,500
$0.50 - 1.00		60,000	1 year		60,000
$0.50 - 1.00		443,334	3 years		216,667
$1.00 - 1.49		720,000	3 years		640,000
$1.00 - 1.49		914,000	9 years		377,000
$1.50 - 1.99		551,000	3 years		260,333
$2.00 - 3.00		120,000	1 year or less		120,000
$2.00 - 3.00		280,000	9 years		140,000
$3.00 - 4.00		536,000	9 years		140,000
$4.00 - 5.00		1,585,520	9 years		—
$5.00 - 6.00		310,000	9 years		—
$6.00 - 7.00		30,000	9 years		—
$7.00 - 8.00		90,000	9 years		—
		9,274,854			3,266,500

Schedule of significant assumptions used to compute the fair market values of stock options classified as liability awards

	2012
Risk-free interest rate		0.42	%
Dividend yield		0	%
Volatility factor		129	%
Expected life (years)		2.5 - 3.2