Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 1)

DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 1) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Derivative [Line Items]
Embedded conversion option liability	$ 23,622
Fair value of liability for warrant derivative instruments	42,293
Total	42,293	158,244
Fair Value, Inputs, Level 1 [Member]
Derivative [Line Items]
Embedded conversion option liability	0
Fair value of liability for warrant derivative instruments	0
Fair Value, Inputs, Level 2 [Member]
Derivative [Line Items]
Embedded conversion option liability	0
Fair value of liability for warrant derivative instruments	0
Fair Value, Inputs, Level 3 [Member]
Derivative [Line Items]
Embedded conversion option liability	23,622
Fair value of liability for warrant derivative instruments	42,293
Total	$ 65,915

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

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