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PREFERRED STOCK (Detail Textuals) (USD $)
 12 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Series A Preferred Stock
    
Class of Stock [Line Items]    
An annual cumulative dividend price per share of Series A Preferred Stock (in dollars per share) $ 1.50  
Cumulative unpaid dividends $ 10,931,872 $ 10,267,420
Cumulative unpaid dividends converted into common shares, Convertible price per common share (in dollars per share) $ 1,000  
Conversion of preferred dividends into common stock   $ 33,000
Conversion of preferred stock into common stock (in shares)   15
Conversion of preferred dividends into common stock (in shares)   33
Series A preferred stock, redemption price per share (in dollars per share) $ 11.00  
Liquidation price to be received by series A preferred stock holder for each outstanding share plus all cumulative unpaid dividends (in dollars per share) $ 10.00  
Common Stock
    
Class of Stock [Line Items]    
Conversion of preferred stock into common stock (in shares)   15
Conversion of preferred dividends into common stock (in shares)   33