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DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 1) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014
--- | --- | --- | ---
Derivative [Line Items] |  |  |
Embedded conversion option liabilities | $ 994,343 | $ 780,281 |
Fair value of liability for warrant derivative instruments | 55,839 | 269,648 |
Total | 1,050,182 | 1,049,929 | $ 158,244
Fair Value, Inputs, Level 1 [Member] |  |  |
Derivative [Line Items] |  |  |
Embedded conversion option liabilities | 0 | 0 |
Fair value of liability for warrant derivative instruments | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] |  |  |
Derivative [Line Items] |  |  |
Embedded conversion option liabilities | 0 | 0 |
Fair value of liability for warrant derivative instruments | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] |  |  |
Derivative [Line Items] |  |  |
Embedded conversion option liabilities | 994,343 | 780,281 |
Fair value of liability for warrant derivative instruments | 55,839 | 269,648 |
Total | $ 1,050,182 | $ 1,049,929 |

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