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Derivative Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2012

Derivative Financial Instruments Tables

Derivative financial instruments

Inputs into Lattice model for warrants:		12/31/2012
Equivalent Volatility			88.95	%
Equivalent Interest Rate			0.29	%
Estimated stock price		$	0.7718
Floor		$	1.1500
Greater of estimated stock price or floor		$	1.1500
Probability price < Strike			84.11	%
FV of put		$	1.0675
Probability of Fundamental Transaction occuring			5	%

Schedule of Outstanding Warrant Liability

		Warrant Liability
Fair value, June 30, 2012		$	1,087,296
Change in fair value of warrant liability			(265,336	)
Fair value, 'December 31, 2012		$	821,960

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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Tabular disclosure of outstanding warrant liability as of the balance sheet date.

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