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DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 1) (USD $)
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Jun. 30, 2014
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Jun. 30, 2013
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| Derivative [Line Items] | ||
| Fair value of liability for warrant derivative instruments | $ 158,244 | $ 0 |
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Fair Value, Measurements, Recurring [Member]
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| Derivative [Line Items] | ||
| Fair value of liability for warrant derivative instruments | 158,244 | |
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Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
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| Derivative [Line Items] | ||
| Fair value of liability for warrant derivative instruments | 0 | |
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Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
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| Derivative [Line Items] | ||
| Fair value of liability for warrant derivative instruments | 0 | |
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Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
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| Derivative [Line Items] | ||
| Fair value of liability for warrant derivative instruments | $ 158,244 |