Quarterly report pursuant to Section 13 or 15(d)

10. DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Tables)

10. DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2013

Derivative Financial Instruments And Fair Value Measurements Tables

	September 30, 2013
Volatility		53	%
Expected Term		2.25
Risk Free Interest Rate		0.4	%
Expected dividend yield		none

Schedule of fair value measurements

Quoted Prices

Significant

Balance at

in Active

Other

Significant

September 30,

Markets for

Observable

Unobservable

2013

Identical Assets

Inputs

(Level 1)

(Level 2)

(Level 3)

Fair value of liability for warrant derivative instruments

403,492

—

403,492

Schedule of fair value liability

	Fair Value of
	Liability for
	Warrant
	Derivative
	Instruments

Balance at June 30, 2013	$	0
Initial recording of warrant derivative liability		403,492
Fair value of warrants exercised or expired		0
Change in fair value included in statement of operations		0
Balance at September 30, 2013	$	403,492

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details