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Convertible Debt Offering (Details Textual) (USD $)
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0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||||||||||||||
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Mar. 28, 2013
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Dec. 21, 2012
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Aug. 29, 2013
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Mar. 28, 2013
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Mar. 31, 2014
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Mar. 31, 2013
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Mar. 31, 2014
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Mar. 31, 2013
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Jun. 30, 2013
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Mar. 28, 2013
Convertible Note Warrants [Member]
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Mar. 31, 2014
Convertible Note Warrants [Member]
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Mar. 31, 2014
Aegis Capital Corporation [Member]
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Mar. 31, 2014
Third Party [Member]
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Mar. 31, 2014
Gottbetter Capital Markets (GCM) [Member]
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Jun. 30, 2012
Gottbetter Capital Markets (GCM) [Member]
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Mar. 31, 2014
Gottbetter & Partners and Loeb & Loeb [Member]
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Mar. 31, 2014
Convertible Note Broker Warrants [Member]
Aegis Capital Corporation [Member]
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Mar. 31, 2014
Convertible Note [Member]
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Mar. 31, 2014
June Convertible Note Offering [Member]
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Jun. 20, 2013
June Convertible Note Offering [Member]
Convertible Note Warrants [Member]
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Jun. 20, 2013
June Convertible Debt Offering [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Gottbetter Capital Markets (GCM) [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period One [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period Two [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period Three [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period Four [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period Five [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period Six [Member]
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Mar. 31, 2014
June Convertible Debt Offering [Member]
Debt Instrument, Redemption, Period Seven [Member]
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Jun. 20, 2013
April Convertible Note [Member]
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Mar. 31, 2014
Bridge Note [Member]
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Mar. 31, 2014
Bridge Note Offering [Member]
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Mar. 31, 2014
Bridge Note Redemption [Member]
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| Convertible Debt (Textual) [Abstract] | ||||||||||||||||||||||||||||||||||
| Senior secured convertible notes issued | $ 616,000 | $ 1,500,000 | ||||||||||||||||||||||||||||||||
| Original Issue Discount | 12.00% | 12.00% | 12.00% | 10.00% | ||||||||||||||||||||||||||||||
| Deferred financing costs | 133,059 | 133,059 | 328,893 | 406,900 | 1,537,940 | 62,065 | 365,179 | 120,405 | ||||||||||||||||||||||||||
| Period for cashless exercise warrants | 5 years | 5 years | ||||||||||||||||||||||||||||||||
| Debt Instrument, Interest Rate Terms | The August Convertible Notes bear interest at a rate of 8% per annum, which is paid quarterly. Interest is payable in cash or at the Company’s option in shares of common stock, provided certain conditions are met, based on a share value equal to the lesser of (a) 90% of the average of the volume weighted average price (the “VWAP”) for the 20 consecutive trading days prior to the applicable interest payment date and (b) 100% of the average of the VWAP for the 20 consecutive trading days prior to the applicable interest payment date less $1.00. Upon any Event of Default (as defined in the August Convertible Notes), the outstanding principal amount of each August Convertible Note, plus liquidated damages, interest, a premium of 30% and other amounts owing in respect thereof through the date of acceleration, shall become, at the noteholders’ election, immediately due and payable in cash. Commencing five days after the occurrence of any Event of Default, the interest rate on each August Convertible Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. The August Conversion Price is subject to “full ratchet” and other customary anti-dilution protections. |
The June Convertible Notes bear interest at 8% per annum, which is paid quarterly beginning on November 1, 2013. Interest is payable in cash or at the Company's option in shares of the Company's common stock, provided certain conditions are met, based on a share value equal to the lesser of (a) 90% of the average of the VWAP for the 20 consecutive trading days prior to the applicable interest payment date and (b) 100% of the average of the VWAP for the 20 consecutive trading days prior to the applicable interest payment date less $1.00. Upon any Event of Default (as defined in the June Convertible Notes), the outstanding principal amount of the June Convertible Notes plus liquidated damages, interest, a premium of 30% and other amounts owing in respect thereof through the date of acceleration, shall become, at the holders' election, immediately due and payable in cash. Commencing five days after the occurrence of any Event of Default, the interest rate on the June Convertible Notes shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. The June Conversion Price is subject to "full ratchet" and other customary anti-dilution protections. | ||||||||||||||||||||||||||||||||
| Warrants ,exercise price | 25.00 | 8.20 | 0.082 | |||||||||||||||||||||||||||||||
| Number of common stock purchase due to issuance of warrants | 19,000 | 1,900,000 | 25,040 | |||||||||||||||||||||||||||||||
| Percentage of funds raised in convertible notes offering paid as commission | 7.20% | |||||||||||||||||||||||||||||||||
| Term of Convertible Notes | The term of the Convertible Notes include an eight month maturity period and an annual interest rate of 12% which is accrued until payment or until the Convertible Notes are converted into equity. | The term of the August Convertible Notes include an eighteen-month maturity period, with partial redemption beginning on September 1, 2014. The August Convertible Notes bear interest at a rate of 8% per annum, which is paid quarterly. | The term of the June Convertible Notes includes an eighteen-month maturity period, with partial redemptions beginning on June 1, 2014. | The Convertible Notes were converted at a per share price of $70.00, as the Company's stock price was less than $30.00 on the Reset Date, for 302,762 shares. The Convertible Note Warrants were converted into 700,00 shares of the Company's common stock. | The term of the Bridge Note includes a seventeen-month maturity period, with partial redemption beginning on February 1, 2015. The Bridge Note bears interest at a rate of 8% per annum, which is paid quarterly. | |||||||||||||||||||||||||||||
| Convertible note redemption description | On September 1, 2014, October 1, 2014, November 1, 2014, December 1, 2014, January 1, 2015 and February 1, 2015, the Company is obligated to redeem an amount equal to $51,333 and on March 1, 2015, the Company is obligated to redeem an amount equal to $308,000 (plus accrued but unpaid interest, liquidated damages and any other amounts then owing in respect of the August Convertible Notes) (collectively, the “Periodic Redemption Amount”). In lieu of a cash redemption and subject to the Company meeting certain equity conditions described in the August Convertible Notes, the Company may elect to pay the Periodic Redemption Amount in shares of its common stock based on a conversion price equal to the lesser of (a) $6.80 per share, subject to adjustments upon certain events, and (b) 90% of the average of the VWAP for the 20 consecutive trading days prior to the applicable redemption date. |
In lieu of a cash redemption and subject to the Company meeting certain equity conditions described in the June Convertible Notes, the Company may elect to pay the June Periodic Redemption Amount in shares of its common stock based on a conversion price equal to the lesser of (a) $6.80 per share, subject to adjustments upon certain events, and (b) 90% of the average of the VWAP for the 20 consecutive trading days prior to the applicable redemption date. | The Bridge Note bears interest at a rate of 8% per annum, which is paid quarterly. Interest is payable in cash or at the Company's option in shares of common stock, provided certain conditions are met, based on a share value equal to the lesser of (a) 90% of the average of the volume weighted average price (the "VWAP") for the 20 consecutive trading days prior to the applicable interest payment date and (b) 100% of the average of the VWAP for the 20 consecutive trading days prior to the applicable interest payment date less $1.00. If any Event of Default (as defined in the Debentures) occurs, the outstanding principal amount of the Debentures, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the holder's election, immediately due and payable in cash. Commencing five days after the occurrence of any Event of Default that results in the eventual acceleration of the Debentures, the interest rate on the Debentures shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. The Bridge Note Conversion Price is subject to "full ratchet" and other customary anti-dilution protections. | On February 1, 2015 and May 1, 2015, the Company is obligated to redeem an amount equal to $280,000 and on August 1, 2015, the Company is obligated to redeem an amount equal to $560,000 (plus accrued but unpaid interest, liquidated damages and any other amounts then owing in respect of the Bridge Note) (collectively, the "Periodic Redemption Amount"). In lieu of a cash redemption and subject to the Company meeting certain equity conditions described in the Bridge, the Company may elect to pay the Periodic Redemption Amount in shares of its common stock based on a conversion price equal to the lesser of (a) $2.90 per share, subject to adjustments upon certain events, and (b) 90% of the average of the VWAP for the 20 consecutive trading days prior to the applicable redemption date. | ||||||||||||||||||||||||||||||
| Convertible notes annual interest rate | 12.00% | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||||||||
| Value of convertible note | 194,381 | |||||||||||||||||||||||||||||||||
| Convertible notes per unit issued price | 200,000 | |||||||||||||||||||||||||||||||||
| Gross proceeds from secured notes payable | 1,130,000 | 2,000,000 | 616,000 | 1,680,000 | 1,000,000 | |||||||||||||||||||||||||||||
| Percentage of original issue discount | 0.20% | 0.20% | 12.00% | 0.20% | 12.00% | 12.00% | 12.00% | |||||||||||||||||||||||||||
| Convertible note redemption amount | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 840,000 | |||||||||||||||||||||||||||
| Convertible notes, conversion price per share | $ 6.80 | $ 25.00 | $ 25.00 | $ 6.80 | $ 2.90 | |||||||||||||||||||||||||||||
| Convertible Notes Conversion Price , description | The Conversion Price Reset will be available on the earlier of (the "Reset Date") (i) the date of maturity of the 12% Notes or (ii) the completion of a subsequent financing by the Company of at least $5,000,000, if the closing price of the Company's stock is less than $30.00 on the Reset Date. For (i) the conversion price after the reset will be equal to 70% of the 5-day VWAP immediately preceding the Reset Date. For (ii) the Conversion Price after the reset will be equal to 70% of 5-day VWAP immediately after the Reset Date. | |||||||||||||||||||||||||||||||||
| Convertible Note Warrants | 90,588 | 45,200 | 247,059 | 302,762 | 345,868 | |||||||||||||||||||||||||||||
| Per share price of convertible note warrants | $ 8.20 | $ 8.20 | $ 3.50 | |||||||||||||||||||||||||||||||
| Fair value of the convertible note warrants and debt conversion feature | 272,697 | 1,353,720 | 113,091 | 272,697 | 111,808 | 111,808 | 1,423,177 | |||||||||||||||||||||||||||
| Warrants converted in to number of common stock | 22,536 | 70,000 | ||||||||||||||||||||||||||||||||
| Additional fees for legal and escrow agent | 96,556 | |||||||||||||||||||||||||||||||||
| Number of free trading shares sold by non-affiliated. third party shareholders | 62,600 | |||||||||||||||||||||||||||||||||
| Funds raised in convertible notes offering paid as commission | 1,400,000 | 100,000 | ||||||||||||||||||||||||||||||||
| Broker warrants period | 5 years | |||||||||||||||||||||||||||||||||
| Common Stock Exercise Price | $ 8.20 | |||||||||||||||||||||||||||||||||
| Legal Fees | 117,446 | 12,065 | 70,405 | |||||||||||||||||||||||||||||||
| Professional Fees | 337,222 | 818,666 | 1,004,927 | 1,427,389 | 85,207 | 50,000 | 50,000 | |||||||||||||||||||||||||||
| Convertible note warrants issued | 125,200 | |||||||||||||||||||||||||||||||||
| Share price of 62,600 Convertible Note Warrants | $ 50 | |||||||||||||||||||||||||||||||||
| Convertible note warrants exercisable at $0.50 | 62,600 | |||||||||||||||||||||||||||||||||
| Non accountable reimbursement expenses | 3.00% | |||||||||||||||||||||||||||||||||
| Debt conversion converted instrument amount | 6,800,000 | 1,337,143 | ||||||||||||||||||||||||||||||||
| Debt conversion cancelled amount | 342,857 | |||||||||||||||||||||||||||||||||
| Amortized under Loss from Extinguishment | 568,341 | |||||||||||||||||||||||||||||||||
| Debt Discount, net | 0 | 145,729 | 231,349 | |||||||||||||||||||||||||||||||
| Debt Discount, gross | $ 714,070 | |||||||||||||||||||||||||||||||||