NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES - Antidilutive effect of contingently issuable shares (Details 1) - shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares Issuable Upon Conversion of Cumulative Preferred Stock	1,033,334	1,033,334
Prior Cumulative Preferred Stock - Series A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares Issuable Upon Conversion of Cumulative Preferred Stock	400,000	400,000
Prior Cumulative Preferred Stock - Series B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares Issuable Upon Conversion of Cumulative Preferred Stock	375,000	375,000
Cumulative Preferred Stock - Series A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares Issuable Upon Conversion of Cumulative Preferred Stock	222,133	222,133
Cumulative Preferred Stock - Series B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares Issuable Upon Conversion of Cumulative Preferred Stock	36,201	36,201