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Fair Value Measurements (Tables)
 6 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
The Company utilized the following assumptions in valuing the derivative conversion features during the three months ended December 31, 2016:
 
Exercise Price
 
$2.70
 
Risk free interest rate
 
1.79% - 1.90%
 
Expected volatility
 
40%
 
Remaining term
 
4.44 – 4.96 years
 
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheets as follows:
 
 
 
Fair Value Measurements
 
 
 
Using Fair Value Hierarchy
 
 
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Embedded Conversion Feature
 
$
-
 
$
-
 
$
-
 
$
-
 
Warrant Liabilities
 
 
915,399
 
 
-
 
 
-
 
 
915,399
 
 
 
$
915,399
 
$
-
 
$
-
 
$
915,399
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Embedded Conversion Feature
 
$
367,142
 
$
-
 
$
-
 
$
367,142
 
Warrant Liabilities
 
 
683,858
 
 
-
 
 
-
 
 
683,858
 
 
 
$
1,051,000
 
$
-
 
$
-
 
$
1,051,000