DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 1) - USD ($) |
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2014 |
|---|---|---|---|
| Derivative [Line Items] | |||
| Embedded conversion option liabilities | $ 994,343 | $ 780,281 | |
| Fair value of liability for warrant derivative instruments | 55,839 | 269,648 | |
| Total | 1,050,182 | 1,049,929 | $ 158,244 |
| Fair Value, Inputs, Level 1 [Member] | |||
| Derivative [Line Items] | |||
| Embedded conversion option liabilities | 0 | 0 | |
| Fair value of liability for warrant derivative instruments | 0 | 0 | |
| Total | 0 | 0 | |
| Fair Value, Inputs, Level 2 [Member] | |||
| Derivative [Line Items] | |||
| Embedded conversion option liabilities | 0 | 0 | |
| Fair value of liability for warrant derivative instruments | 0 | 0 | |
| Total | 0 | 0 | |
| Fair Value, Inputs, Level 3 [Member] | |||
| Derivative [Line Items] | |||
| Embedded conversion option liabilities | 994,343 | 780,281 | |
| Fair value of liability for warrant derivative instruments | 55,839 | 269,648 | |
| Total | $ 1,050,182 | $ 1,049,929 |