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DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 2) (USD $)
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12 Months Ended | |
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Jun. 30, 2014
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Jun. 30, 2013
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| Balance at June 30, 2013 | $ 0 | |
| Initial fair value recording of warrant derivative liability as debt discount | 144,241 | |
| Effects of foreign currency exchange rate changes | (2,519) | |
| Change in fair value included in statements of operations | (16,522) | 0 |
| Balance at June 30, 2014 | $ 158,244 | $ 0 |
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- Definition
Initial fair value recording of warrant derivative liability as debt discount during the period. No definition available.
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- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of gain (loss) from the increase (decrease) in fair value of foreign currency derivatives and nonderivative instruments designated as fair value hedging instruments which were recognized in earnings, net of offsets by the gain (loss) on the hedged item to the extent that the fair value hedge was determined to be effective. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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