Annual report pursuant to Section 13 and 15(d)

Note 10 - Fair Value Measurements (Tables)

v3.5.0.2
Note 10 - Fair Value Measurements (Tables)
12 Months Ended
Jun. 30, 2016
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
   
Quoted
Prices in
Active
Markets
for
Identical
Assets
   
Significant
Other
Observable
Inputs
   
Significant
Unobservable
Inputs
 
   
(Level
1)
   
(Level
2)
   
(Level
3)
 
Description:
                       
Warrant derivative liabilities
  $ -     $ -     $ 24,000  
   
Quoted
Prices in
Active
Markets
for
Identical
Assets
   
Significant
Other
Observable
Inputs
   
Significant
Unobservable
Inputs
 
   
(Level
1)
   
(Level
2)
   
(Level
3)
 
Description:
                       
Warrant derivative liabilities
  $ -     $ -     $ 23,000  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
Fair value measurements of warrants using significant unobservable inputs (Level 3)
 
Balance at June 30,
2015
  $ 23,000  
Change in fair value of warrant liability
    (11,000
)
Warrant re-pricing modification charge (Note 7)
    12,000  
Balance at June 30,
2016
  $ 24,000  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Instrument
 
Fair
 Value
 
 
Principal
 Valuation
Technique
 
Significant
Unobservable
 Inputs
 
Range
 of Significant
Input
 Values
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrant derivative liabilities
 
$
24
,000
 
 
Monte Carlo simulation
 
Volatility
 
  110%    
 
 
 
 
 
 
 
 
 
Risk free rates
 
0.44% -
0.49%
 
 
 
 
 
 
 
 
 
Probability
of subsequent financing
 
  95%