Series A Convertible Preferred Stock (Details Textual) - USD ($) |
Dec. 10, 2015 |
Dec. 07, 2015 |
Dec. 31, 2015 |
Jun. 30, 2015 |
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| Series A Convertible Preferred Stock [Line Items] | ||||
| Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | ||
| Preferred Stock Shares Issued | 0 | 0 | ||
| Series A Convertible Preferred Stock [Member] | ||||
| Series A Convertible Preferred Stock [Line Items] | ||||
| Preferred Stock, Shares Authorized | 15,000,000 | |||
| Preferred Stock, Conversion Basis | The Series A Stock has a conversion feature at the option of the holder that can be converted at any time at a conversion rate of $1.95, subject to adjustment, into common stock. The shares also have a mandatory conversion feature at the same conversion rate if one of the following events occurs: 1) Upon vote or consent of 2/3 of the then outstanding Series A Stock; 2) Upon the Companys listing to NASDAQ Stockmarket or the NYSE MKT and the Companys common stock trades for 30 days for at least 155% of the Series A Stock conversion price; or 3) the Company closes an underwritten public offering of at least $15 million in gross proceeds with an offering price of at least 155% of the Series A Stock conversion price. The Series A Stocks conversion price is subject to weighted average anti-dilution protection, as defined, and is subject to adjustments for stock splits, dividends, and similar events. | |||
| Preferred Stock, Dividend Rate, Percentage | 6.00% | |||
| Preferred Stock, Redemption Price Per Share | $ 1.95 | |||
| Preferred Stock Shares Issued | 1,025,699 | |||
| Proceeds from Issuance of Preferred Stock and Preference Stock | $ 1,803,548 | |||
| Preferred Stock, Liquidation Preference Per Share | $ 1.95 | |||
| Debt Instrument, Term | 10 years | |||
| Debt Instrument, Convertible, Conversion Price | $ 1.95 | |||
| Series A Convertible Preferred Stock [Member] | Warrant [Member] | ||||
| Series A Convertible Preferred Stock [Line Items] | ||||
| Payments of Debt Issuance Costs | $ 90,852 | |||
| Series A Convertible Preferred Stock [Member] | Private Placement [Member] | ||||
| Series A Convertible Preferred Stock [Line Items] | ||||
| Payments of Debt Issuance Costs | $ 105,715 |
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- References No definition available.
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- Definition The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Describe the conversion features of preferred stock if preferred stock is convertible. That is, shares of preferred stock into which another convertible security was converted, or shares of preferred stock into which another class of preferred stock was converted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The percentage rate used to calculate dividend payments on preferred stock. No definition available.
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- Definition The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholders and which takes precedence over common stockholders in the event of liquidation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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