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STOCKHOLDERS' EQUITY (Tables)
 6 Months Ended
Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
The following table sets forth changes in compensation-related restricted stock awards during six months ended December 31, 2014:
 
 
 
 
 
 
 
 
 
 
Grant Date
 
 
 
Number of
 
Fair Value of
 
Fair Value
 
 
 
Shares
 
Shares
 
Per share
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding (unvested) at June 30, 2014
 
 
1,714,000
 
$
3,104,759
 
 
 
 
Granted
 
 
1,750,000
 
 
3,675,000
 
$
2.10
 
Forfeited
 
 
-
 
 
-
 
 
 
 
Vested
 
 
(1,150,500)
 
 
(3,069,870)
 
 
 
 
Outstanding (unvested) at December 31, 2014
 
 
2,313,500
 
$
3,709,889