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Subsequent Events
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9 Months Ended | |||
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Mar. 31, 2015
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| Subsequent Events [Abstract] | ||||
| Subsequent Events [Text Block] |
Common Stock Issuances – Pursuant to the common stock purchase agreement entered into with Aspire Capital on August 25, 2014 (see Note 7), subsequent to March 31, 2015, Aspire Capital purchased an additional 2,684,452 shares of common stock for $2,698,214, fulfilling its commitment to purchase $10.0 million of the Company’s common stock under the agreement. The proceeds received by the Company from these sales are not reflected in the condensed consolidated financial statements included in this report.
2015 Aspire Facility – On May 15, 2015, the Company entered into a new common stock purchase agreement with Aspire Capital, whereby the Company has the option to require Aspire Capital to purchase up to an aggregate of $15 million of shares of the Company’s common stock over a 36-month term, upon and subject to terms and conditions in the 2015 agreement which are similar to those contained in the 2014 Aspire facility. |