Quarterly report pursuant to Section 13 or 15(d)

Warrant Derivative Liability (Tables)

v2.4.0.6
Warrant Derivative Liability (Tables)
9 Months Ended
Mar. 31, 2013
Derivative Liabilities [Abstract]  
Fair Value Measurements, Nonrecurring
Warrants were determined to have a fair value per share and aggregate value as of March 31, 2013 and in aggregate value as of June 30, 2012 as follows:

 

    Issued Warrants     Fair Value Per
Share $ as of
March 31, 2013
    Total Fair Value in
Aggregate $ as of
March 31, 2013
    Total Fair Value in
Aggregate $ as of
June 30, 2012
 
                         
June 2012 Warrants     562,551     $ 0.71     $ 398,000     $ 1,158,000  
July 2012 Warrants     338,013     $ 0.70     $ 236,000     $  
August 2012 Warrants     120,719     $ 0.70     $ 85,000     $  
October 2012 Warrants     48,287     $ 0.71     $ 34,000     $  
Advisory Agreement Warrants     1,837,777     $ 0.70     $ 1,295,000     $ 3,785,000  
     Total     2,907,347             $ 2,048,000     $ 4,943,000
Fair Value, Concentration of Risk

Significant assumptions used to estimate the fair value of the warrants classified as derivative liabilities at March 31, 2013 are summarized below:

 

Risk-free interest rate     0.61 – 0.69 %
Expected life (average)     4.4 years  
Stock price (based on prices on valuation date)   $ 0.86  
Exercise price   $ 0.41  
Expected volatility     100 %