Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 2)

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DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 2)
9 Months Ended
Mar. 31, 2016
USD ($)
Balance at Beginning $ 1,049,929
Effects of foreign currency exchange rate changes (10,490)
Initial fair value of embedded conversion option derivative liability recorded as debt discount 2,205,925
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of ECO 2,211,529
Change in fair value included in statements of operations (1,716,757)
Balance at Ending $ 3,740,136