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DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 2)	9 Months Ended
	Mar. 31, 2016 USD ($)
Balance at Beginning	$ 1,049,929
Effects of foreign currency exchange rate changes	(10,490)
Initial fair value of embedded conversion option derivative liability recorded as debt discount	2,205,925
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of ECO	2,211,529
Change in fair value included in statements of operations	(1,716,757)
Balance at Ending	$ 3,740,136

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- Definition

Initial fair value recording of warrant derivative liability as change in fair value of ECO.

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Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 55
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Net Increase or Decrease in the fair value of the embedded derivative or group of embedded derivatives included in earnings in the period.

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Amount of gain (loss) from the increase (decrease) in fair value of foreign currency derivatives and nonderivative instruments designated as fair value hedging instruments which were recognized in earnings, net of offsets by the gain (loss) on the hedged item to the extent that the fair value hedge was determined to be effective.

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