Note 7 - Stockholders' Equity (Tables)

9 Months Ended

Mar. 31, 2017

Notes Tables

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Weighted Average, March 31, 2017		Range, March 31, 2017				Weighted Average, March 31, 2016		Range, March 31, 2016
Volatility		79%		78%	-	86%		74%		74%
Dividend yield		-			-			-		-
Risk-free interest rate		1.14%		0.82%	-	1.17%		1.75%		1.75%
Expected term (years)		4.0		3	-	4		5		5

Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life		Aggregate Intrinsic Value
Outstanding at July 1, 2016		4,225,537	$	1.79		4.1	$	158,675
Granted		294,500		0.97
Exercised		-		-
Forfeited		-		-
Expired		-		-
Outstanding at March 31, 2017		4,520,037	$	1.42		3.2	$	216,875
Exercisable at March 31, 2017		4,470,037	$	1.43		3.2	$	216,875

Schedule of Nonvested Share Activity [Table Text Block]

	Options			Weighted Average Grant-Date Fair Value
Nonvested at July 1, 2016		50,000		$	0.76
Granted		294,500			0.52
Vested		(294,500	)		(0.52	)
Nonvested at March 31, 2017		50,000		$	0.46

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Three months ended March 31, 2017		Three months ended March 31, 2016		Nine months ended March 31, 2017		Nine months ended March 31, 2016
General and administrative:
Fair value of stock bonuses expensed	$	-	$	-	$	6,830	$	69,000
Change in fair value from modification of option terms		-		-		166,031		42,550
Fair value of stock options expensed		6,134		1,486		112,699		65,695
Total	$	6,134	$	1,486	$	285,560	$	177,245
Research and development:
Fair value of stock bonus expensed	$	-	$	-	$	7,954	$	-
Change in fair value from modification of option terms		-		-		11,440		-
Fair value of stock options expensed		-		3,471		23,251		28,902
Total	$	-	$	3,471	$	42,645	$	28,902