Related Party Transactions (Details Textual) (USD $)
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1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 39 Months Ended | 48 Months Ended | ||||
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Dec. 31, 2012
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Sep. 01, 2011
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Mar. 31, 2014
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Mar. 31, 2013
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Jun. 30, 2012
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Mar. 31, 2014
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Mar. 31, 2013
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Jun. 30, 2013
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Dec. 31, 2011
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Jun. 30, 2013
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Mar. 31, 2014
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Line of credit issued to related party | $ 1,000,000 | ||||||||||
Line of credit facility, amount outstanding | 0 | 832,454 | 0 | 163,829 | 163,829 | 0 | |||||
Line of credit facility accrued interest | 0 | 31,547 | 0 | 3,341 | 3,341 | 0 | |||||
Line Of Credit Facility, Interest Rate Description | The line of credit bears interest equal to the lower of 10%, or the Wall Street Journal Prime Rate (3.25% at March 31, 2014) plus 5% | The line of credit bears interest equal to the lower of 10%, or the Wall Street Journal Prime Rate (3.25% at June 30, 2013) plus 5% | |||||||||
Line of credit facility, interest rate at period end | 8.25% | 8.25% | 8.25% | 8.25% | 8.25% | ||||||
Line of credit facility, interest rate during period | 5.00% | ||||||||||
Line of credit facility, description | The line of credit matured on August 31, 2012 and the Company has no further obligations to fund the credit line | The line of credit is for a period of one year and matured on August 31, 2012. | |||||||||
Consulting expenses | 172,530 | 266,164 | 55,000 | 334,205 | 445,389 | 598,995 | 155,000 | ||||
Professional fees | 228,308 | 198,368 | 28,657 | 470,926 | 486,747 | 620,162 | 96,954 | 802,943 | 1,273,869 | ||
Related party expenses | 1,122,839 | 1,122,839 | 807,001 | 145,200 | 807,001 | 1,122,839 | |||||
Due from related parties | 0 | 0 | 183,346 | 183,346 | 0 | ||||||
Write off balances due from related party | 163,829 | ||||||||||
Interest income, related party | 13,553 | ||||||||||
Financing Fees | 35,000 | 75,000 | |||||||||
Board of Directors Chairman
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Due from related parties | 164,398 | 164,398 | 164,398 | ||||||||
Related Parties
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Professional fees | $ 0 | $ 25,500 | $ 117,500 | $ 51,000 | $ 109,500 | $ 135,000 |