Derivative Liabilities (Tables)

12 Months Ended

Jun. 30, 2014

Derivative Liabilities Tables

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

As of June 30, 2014, the derivative liabilities were valued using the weighted-average Black-Scholes-Merton option pricing model using the assumptions detailed below. The results of year-end valuation were summarized as follows:

Grant Date	Derivative Liabilities	Dividend Yield	Expected Volatility	Risk Free Rate	Expected Term	Fair Value as of June 30, 2014
8/17/2012	Conversion Feature	0%	147%	0.19%	2.01	12,000
	$0.01 Warrant	0%	147%	0.19%	0.13	2,000
8/24/2012	Conversion Feature	0%	147%	0.18%	2.01	12,000
	$0.01 Warrant	0%	147%	0.18%	0.15	2,000
9/9/2012	Conversion Feature	0%	130%	0.17%	2.01	18,000
	$0.01 Warrant	0%	130%	0.17%	0.19	6,000
9/13/2012	Conversion Feature	0%	130%	0.16%	2.01	22,000
	$0.01 Warrant	0%	130%	0.16%	0.20	4,000
9/18/2012	Conversion Feature	0%	128%	0.18%	0.67	6,000
	$0.01 Warrant	0%	128%	0.18%	0.22	2,000
9/18/2012	Conversion Feature	0%	128%	0.18%	0.67	6,000
	$0.01 Warrant	0%	128%	0.18%	0.22	2,000
	$0.50 Warrant	0%	128%	0.18%	0.22	225
9/18/2012	Conversion Feature	0%	128%	0.18%	0.67	6,000
	$0.01 Warrant	0%	128%	0.18%	0.22	2,000
	$0.50 Warrant	0%	128%	0.18%	0.22	225
9/27/2012	Conversion Feature	0%	122%	0.16%	0.67	5,000
	$0.01 Warrant	0%	122%	0.16%	0.24	3,000
	$0.50 Warrant	0%	122%	0.16%	0.24	750
10/5/2012	Conversion Feature	0%	122%	0.17%	2.01	4,000
	$0.01 Warrant	0%	122%	0.17%	0.27	1,000
10/25/2012	Conversion Feature	0%	99%	0.18%	2.01	8,000
	$0.01 Warrant	0%	99%	0.18%	0.32	4,000
7/31/2012	Conversion Feature	0%	66%	0.17%	0.84	2,000
	$0.01 Warrant	0%	66%	0.14%	0.34	5,000
	$0.50 Warrant	0%	66%	0.14%	0.34	1,537
10/31/2012	Conversion Feature	0%	99%	0.14%	2.01	8,000
	$0.01 Warrant	0%	66%	0.17%	0.08	5,000
11/27/2012	Conversion Feature	0%	96%	0.17%	0.41	12,000
	$0.01 Warrant	0%	96%	0.17%	0.41	7,000
12/21/2012	Conversion Feature	0%	83%	0.17%	2.01	28,000
	$0.01 Warrant	0%	83%	0.17%	0.48	18,000
8/23/2016	$0.50 Warrant	0%	99%	0.00%	2.15	13,500
					Total Fair Value	228,237

As of June 30, 2013,the derivative liabilities were valued using the weighted-average Black-Scholes-Merton option pricing model using the assumptions detailed below. The results of year--end valuation were summarized as follows:

Grant Date	Derivative Liabilities	Dividend Yield	Expected Volatility	Risk Free Rate	Expected Term	Fair Value as of  June 30, 2013
8/17/2012	Conversion Feature	0%	88%	0.15%	0.88	$            12,500
	$0.01 Warrant	0%	232%	0.15%	1.13	2,313
	$0.50 Warrant	0%	232%	0.15%	1.13	1,088
8/24/2012	Conversion Feature	0%	65%	0.15%	0.65	7,000
	$0.01 Warrant	0%	251%	0.15%	1.15	2,313
	$0.50 Warrant	0%	251%	0.15%	1.15	1,125
9/9/2012	Conversion Feature	0%	94%	0.15%	0.94	20,000
	$0.01 Warrant	0%	248%	0.15%	1.19	3,700
	$0.50 Warrant	0%	248%	0.15%	1.19	1,800
9/13/2012	Conversion Feature	0%	71%	0.15%	0.71	16,000
	$0.01 Warrant	0%	232%	0.15%	1.13	4,625
	$0.50 Warrant	0%	232%	0.15%	1.13	2,175
9/18/2012	Conversion Feature	0%	97%	0.15%	0.97	13,000
	$0.01 Warrant	0%	245%	0.15%	1.22	2,313
	$0.50 Warrant	0%	245%	0.15%	1.22	1,125
9/18/2012	Conversion Feature	0%	97%	0.15%	0.97	13,000
	$0.01 Warrant	0%	245%	0.15%	1.22	2,313
	$0.50 Warrant	0%	245%	0.15%	1.22	1,125
9/18/2012	Conversion Feature	0%	97%	0.15%	0.97	13,000
	$0.01 Warrant	0%	245%	0.15%	1.22	2,313
	$0.50 Warrant	0%	245%	0.15%	1.22	1,125
9/27/2012	Conversion Feature	0%	121%	0.15%	1.21	15,000
	$0.01 Warrant	0%	244%	0.15%	1.24	2,313
	$0.50 Warrant	0%	244%	0.15%	1.24	1,125
10/5/2012	Conversion Feature	0%	85%	0.15%	0.85	4,600
	$0.01 Warrant	0%	243%	0.15%	1.27	925
	$0.50 Warrant	0%	243%	0.15%	1.27	465
10/25/2012	Conversion Feature	0%	90%	0.15%	0.90	12,500
	$0.01 Warrant	0%	245%	0.15%	1.32	2,313
	$0.50 Warrant	0%	245%	0.15%	1.32	1,163
10/31/2012	Conversion Feature	0%	84%	0.15%	0.84	11,500
	$0.01 Warrant	0%	244%	0.15%	1.34	2,313
	$0.50 Warrant	0%	244%	0.15%	1.34	1,163
11/27/2012	Conversion Feature	0%	91%	0.15%	0.91	50,000
	$0.01 Warrant	0%	240%	0.15%	1.41	9,250
	$0.50 Warrant	0%	240%	0.15%	1.41	4,650
12/21/2012	Conversion Feature	0%	98%	0.15%	0.98	52,000
	$0.01 Warrant	0%	237%	0.15%	1.48	9,250
	$0.50 Warrant	0%	237%	0.15%	1.48	4,650
1/31/2013	Conversion Feature	0%	108%	0.15%	1.08	14,000
	$0.01 Warrant	0%	224%	0.15%	1.08	2,313
	$0.50 Warrant	0%	224%	0.15%	1.08	1,013
					Total fair value	$326,452