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Convertible Debentures and Derivatives (Tables)
 6 Months Ended
Dec. 31, 2016
Series B Debentures [Member]  
Schedule of Long-term Debt Instruments [Table Text Block]
The following table presents the balance of the Series B Debenture payable, net of discount at December 31 and June 30, 2016. The debt discount is being amortized to interest expense over the term of the debenture:
 
 
 
December 31,
 
 
June 30,
 
 
 
2016
 
 
2016
 
 
 
 
 
 
 
 
Proceeds
 
$
6,000,000
 
 
$
6,000,000
 
Debt discount for bifurcated derivative
 
 
(2,735,310)
 
 
 
(2,735,310)
 
 
 
 
3,264,690
 
 
 
3,264,690
 
 
 
 
 
 
 
 
 
 
Accumulated amortization of debt discount
 
 
2,646,145
 
 
 
2,210,047
 
 
 
 
 
 
 
 
 
 
Debenture payable - Series B, net
 
$
5,910,835
 
 
$
5,474,737
 
Series C Debentures [Member]  
Schedule of Long-term Debt Instruments [Table Text Block]
The following represents the balance of the Debenture payable – Series C, net of discount at December 31, 2016 and June 30, 2016:
 
 
 
December 31,
 
June 30,
 
 
 
2016
 
2016
 
 
 
 
 
 
 
Proceeds
 
$
5,000,000
 
$
5,000,000
 
Debt Discount:
 
 
 
 
 
 
 
Series A Preferred
 
 
(1,152,297)
 
 
(1,152,297)
 
Embedded derivative
 
 
(1,879,428)
 
 
(1,879,428)
 
 
 
 
1,968,275
 
 
1,968,275
 
 
 
 
 
 
 
 
 
Accumulated amortization of debt discount
 
 
1,556,044
 
 
1,165,393
 
 
 
 
 
 
 
 
 
Debenture payable - Series C, net
 
$
3,524,319
 
$
3,133,668