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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Mar. 31, 2015
Stockholders' Equity Note [Abstract] |
Warrant Activity and Related Balances Outstanding | Warrant activity during the nine months ended March 31, 2015, and related balances outstanding as of such dates are reflected below:
|  |  | Weighted |  | Remaining |
|  |  | Average |  | Contract |
|  |  | Exercise Price |  | Term (# |
| Number |  | PerShare |  | years) |
Shares purchasable under outstanding warrants at June 30, 2014 |  |  | 22,798,347 |  | $ | 0.21 |  |  |  |
Stock purchase warrants issued |  |  | 5,241,749 |  |  | 0.22 |  |  |  |
Stock purchase warrants exercised |  |  | — |  |  | — |  |  |  |
Shares purchasable under outstanding warrants at March 31, 2015 |  |  | 28,040,096 |  | $ | 0.21 |  |  | 2.25 – 4.75 |
Warrant activity during the nine months ended March 31, 2014, and related balances outstanding as of such dates are reflected below:
|  |  | Weighted |  | Remaining |
|  |  | Average |  | Contract |
|  |  | Exercise Price |  | Term (# |
| Number |  | Per Share |  | years) |
Shares purchasable under outstanding warrants at June 30, 2013, repriced |  |  | 2,907,347 |  | $ | 0.27 |  |  | 3.21 |
Stock purchase warrants issued |  |  | 17,991,000 |  |  | 0.19 |  |  | 5.00 |
Stock purchase warrants exercised |  |  | — |  |  | — |  |  |  |
Shares purchasable under outstanding warrants at March 31, 2014 |  |  | 20,898,347 |  | $ | 0.20 |  |  | 3.21 – 5.00 |
Stock Options Activity | Activity in stock options during the nine months ended March 31, 2015, and related balances outstanding as of that date are reflected below:
|  |  |  |  | Weighted |
|  |  | Weighted |  | Average |
|  |  | Average |  | Remaining |
| Number of |  | Exercise Price |  | Contract |
| Shares |  | Per Share |  | Term (# years) |
Outstanding at June 30, 2014 |  |  | 6,335,695 |  | $ | 0.19 |  |  | 5.10 |
Granted |  |  | 400,000 |  |  | 0.06 |  |  | 1.95 |
Exercised |  |  | — |  |  |  |  |  |  |
Forfeited and cancelled |  |  | (634,338) |  |  |  |  |  |  |
Outstanding at March 31, 2015 |  |  | 6,101,357 |  | $ | 0.16 |  |  | 7.73 |
Exercisable at March 31, 2015 |  |  | 4,394,399 |  | $ | 0.15 |  |  | 7.40 |
Activity in stock options during the nine months ended March 31, 2014, and related balances outstanding as of that date are reflected below:
|  |  |  |  | Weighted |
|  |  | Weighted |  | Average |
|  |  | Average |  | Remaining |
| Number of |  | Exercise Price |  | Contract |
| Shares |  | Per Share |  | Term (# years) |
Outstanding at June 30, 2013 |  |  | 2,527,389 |  | $ | 0.15 |  |  | 5.85 |
Granted |  |  | 5,310,973 |  |  | 0.17 |  |  | 8.89 |
Exercised |  |  | — |  |  |  |  |  |  |
Forfeited and cancelled |  |  | (792,836) |  |  |  |  |  |  |
Outstanding at March 31, 2014 |  |  | 7,045,526 |  | $ | 0.18 |  |  | 8.57 |
Exercisable at March 31, 2014 |  |  | 3,317,097 |  | $ | 0.14 |  |  | 8.02 |
Employee Option Grants and Non-employee Option Grants | We allocated stock-based compensation expense included in the condensed consolidated statements of operations for employee option grants and non-employee option grants as follows:
|  | For the Three Months Ended |  | For the Nine Months Ended |
|  | March 31, |  | March 31, |  | March 31, |  | March 31, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Research and development |  | $ | 3,000 |  | $ | 4,000 |  | $ | 9,000 |  | $ | 7,000 |
General and administration |  |  | 58,000 |  |  | 129,000 |  |  | 165,000 |  |  | 186,000 |
Total stock-based compensation expense |  | $ | 61,000 |  | $ | 133,000 |  | $ | 174,000 |  | $ | 193,000 |
Stock Options Valuation Assumptions | The Company uses the Black-Scholes valuation model to calculate the fair value of stock options. The fair value of stock options was measured at the grant date using the assumptions (annualized percentages) in the table below:
Nine months ended March 31, |  |  | 2015 |  | 2014 |
Expected volatility |  |  | 100 | % |  |  | 218 | %
Risk free interest rate |  |  | 0.96 | % |  |  | 0.7% to 1.7 | %
Forfeiture rate |  |  | 0 | % |  |  | 13 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
Expected term |  |  | 3 years |  |  |  | 3-5 years |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph i -Article 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 28 -Article 5 + Details
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