Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

			Fair Value Measurements Using Fair Value Hierarchy
March 31, 2016	Fair Value		Level 1		Level 2		Level 3
Warrant liability	$	1,405,686	$	-	$	-	$	1,405,686
Total	$	1,405,686	$	-	$	-	$	1,405,686

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following is a reconciliation of the opening and closing balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ended March 31, 2016:

	Fair Value
March 31, 2016
Balance at June 30, 2015	$	-
Warrant liability acquired in reverse merger		1,066,000
Change in fair value		340,000
Balance at March 31, 2016	$	1,406,000