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Equity Instruments (Tables)
 12 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The assumptions are as follows:
 
 
 
Year Ended June 30,
 
 
 
2016
 
 
2015
 
 
 
 
 
 
 
 
 
 
Expected volatility
 
 
75
%
 
 
-
 
Risk free interest rate
 
 
1.16% - 1.90
%
 
 
-
 
Expected term (years)
 
 
3.75 - 6.25
 
 
 
-
 
Dividend yield
 
 
0
%
 
 
-
 
Forfeiture rate
 
 
0
%
 
 
-
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Stock option activity is as follows:
 
 
 
Number of 
Options
 
Weighted
Average
Exercise Price
 
 
Weighted Average
Remaining Contractual
Life in Years
 
Outstanding June 30, 2015
 
 
-
 
$
-
 
 
 
 
 
Granted
 
 
326,469
 
$
18.01
 
 
 
 
 
Exercised
 
 
-
 
$
-
 
 
 
 
 
Forfeited/Cancelled
 
 
(4,167)
 
$
18.12
 
 
 
 
 
Outstanding June 30, 2016
 
 
322,302
 
$
18.01
 
 
 
9.33
 
Exercisable at June 30, 2016
 
 
139,798
 
$
16.76
 
 
 
9.42
 
Available for grant at June 30, 2016
 
 
511,032
 
 
 
 
 
 
 
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table details the options outstanding at June 30, 2016 by range of exercise prices:
 
Range of Exercise Prices
 
Number of
Options
Outstanding
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life of
Options
Outstanding
 
Number of
Options
Exercisable
 
Weighted
Average
Exercise 
Price
 
$
6.72
 
 
16,668
 
$
6.72
 
 
9.79
 
 
16,668
 
$
6.72
 
$
18.12
 
 
301,467
 
$
18.12
 
 
9.37
 
 
123,130
 
$
18.12
 
$
55.56
 
 
4,167
 
$
55.56
 
 
4.11
 
 
-
 
$
-
 
 
 
 
 
322,302
 
$
18.01
 
 
9.33
 
 
139,798
 
$
16.76
 
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
The following table summarizes stock-based compensation expense for the years ended June 30 2016 and 2015:
 
 
 
Year Ended June 30,
 
 
 
2016
 
2015
 
Research and development expenses
 
 
 
 
 
 
 
Stock options
 
$
89,000
 
$
519,000
 
Selling, general and administrative expenses
 
 
 
 
 
 
 
Stock options
 
 
814,000
 
 
499,000
 
 
 
$
903,000
 
$
1,018,000
 
 
 
 
 
 
 
 
 
Unrecognized expense at June 30, 2016
 
$
1,267,000
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average remaining years to vest
 
 
2.66
 
 
 
 
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of all warrants is as follows:
 
 
 
Number of
Warrants
 
Weighted
Average
Exercise Price
 
Weighted Average
Remaining Contractual
Life in Years
 
Outstanding June 30, 2014
 
 
8,553
 
$
54.36
 
 
3.92
 
Granted in fiscal 2015
 
 
-
 
 
-
 
 
 
 
Expired in fiscal 2015
 
 
-
 
 
-
 
 
 
 
Outstanding June 30, 2015
 
 
8,553
 
$
54.36
 
 
2.92
 
Warrants issued to placement agents for convertible promissory notes
 
 
22,254
 
$
7.80
 
 
 
 
Warrants issued to investors in connection with the registered offering
 
 
1,733,322
 
$
6.00
 
 
 
 
Warrants issued to placement agents for convertible promissory notes
 
 
22,564
 
$
4.80
 
 
 
 
Warrants issued to placement agents for the registered offering
 
 
109,375
 
$
6.00
 
 
 
 
Warrants issued to convertible note holders who converted May 5, 2016
 
 
305,559
 
$
6.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding June 30, 2016
 
 
2,201,627
 
$
6.19
 
 
4.71
 
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block]
The assumptions are as follows:
 
 
 
Year Ended June 30,
 
 
 
 
2016
 
2015
 
Expected volatility
 
 
75
%
 
-
 
Risk free interest rate
 
 
1.07 - 1.76
%
 
-
 
Contractual term (years)
 
 
4.2 - 5.0
 
 
-
 
Dividend yield
 
 
0
%
 
-