Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Details Textual)

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INCOME TAXES (Details Textual) (USD $)
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating Income Loss $ (761,221) $ (1,361,900)
Research Tax Credit Carryforward [Member]
   
Tax Credit Carryforward, Amount 1,399,918  
Australian Taxation Office [Member]
   
Operating Income Loss $ 10,586,000