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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Sep. 30, 2014
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Following is a summary as of the reporting date of the fair values and applicable level within the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:
|  | Quoted Prices in |  |  |  |  |
|  | Active Markets |  |  |  | Significant |
|  | for Identical |  | Significant Other |  | Unobservable |
At September 30, 2014: |  | Assets |  | Observable Inputs |  | Inputs |
|  | (Level 1) |  | (Level 2) |  | (Level 3) |
Description: |  |  |  |  |  |  |
Warrant derivative liabilities |  | $ | - |  | $ | - |  | $ | 133,000 |
|  | Quoted Prices in |  |  |  |  |
|  | Active Markets |  |  |  | Significant |
|  | for Identical |  | Significant Other |  | Unobservable |
At June 30, 2014: |  | Assets |  | Observable Inputs |  | Inputs |
|  | (Level 1) |  | (Level 2) |  | (Level 3) |
Description: |  |  |  |  |  |  |
Warrant derivative liabilities |  | $ | - |  | $ | - |  | $ | 571,000 |
Fair Value Measurements | The table below sets forth a summary of changes in the fair value of our (Level 3) financial instruments for the three months ended September 30, 2014:
|  |  |  | Estimated fair |  | Change in estimated |  |  |
|  | Balance at |  | value of new |  | fair value |  | Balance at |
|  | June 30, |  | derivative |  | recognized in results |  | September 30, |
|  | 2014 |  | liabilities |  | of operations |  | 2014 |
Warrant derivative liabilities |  | $ | 571,000 |  | $ | - |  | $ | (438,000) |  | $ | 133,000 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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