Note 4 - Derivative Obligations (Tables)

3 Months Ended

Sep. 30, 2015

Notes Tables

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

	Series A						Series B
	August 31, 2015			September 30, 2015			August 31, 2015			September 30, 2015
Market price of common stock	$	0.68		$	0.53		$	0.68		$	0.53
Expected volatility		72	%		72	%		62	%		57	%
Contractual term (years)		5.5			5.4			1.5			1.4
Discount rate		1.54	%		1.4	%		0.57	%		0.49	%
Dividend rate		0	%		0	%		0	%		0	%
Exercise price	$	0.68		$	0.68		$	0.68		$	0.68

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	Balance at September 30, 2015		Level 1		Level 2		Level 3
Derivative obligation	$	2,856	$	-	$	-	$	2,856

Derivative Instruments, Gain (Loss) [Table Text Block]

	Amount
Balance - July 1, 2015	$	--
Addition of derivative obligation at fair value on date of issuance		4,282
Change in fair value of derivative obligation		(1,426	)
Balance - September 30, 2015	$	2,856