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STOCKHOLDERS' EQUITY (Tables)
 6 Months Ended
Dec. 31, 2015
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, 2015:
 
 
 
 
 
 
 
 
 
Grant Date
 
 
 
Number of
 
Fair Value of
 
Fair Value
 
 
 
Shares
 
Shares
 
Per share
 
Outstanding (unvested) at June 30, 2015
 
 
1,708,000
 
$
1,797,992
 
 
 
 
Granted
 
 
1,000,000
 
 
1,660,000
 
$
1.66
 
Forfeited
 
 
-
 
 
-
 
 
 
 
Vested
 
 
(1,312,000)
 
 
(1,732,236)
 
 
 
 
Outstanding (unvested) at December 31, 2015
 
 
1,396,000
 
$
1,725,756