CAPITAL STOCK (Details Textuals 1) (USD $)	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Equity [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Reserved for conversion of preferred stock (in shares)	1,030,166
Total cumulative preferred stock dividends in arrears	$ 7,436,518	$ 7,308,446