Protagenic Therapeutics (PTIX) 10-Q 11 May 15 2015 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Mar. 31, 2015	11-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Atrinsic, Inc.
Entity Central Index Key	1022899
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Trading Symbol	ATRN
Entity Common Stock, Shares Outstanding		400,000,000

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Current assets
Cash	$57	$101
Prepaid expenses	89	144
Total current assets	146	245
Property and equipment (net of accumulated depreciation)	2	1
Total assets	148	246
Current liabilities
Accounts payable and accrued expenses	172	138
Accrued interest expense - stockholders	15	3
Short- term notes payable - due to stockholders	415	0
Total current liabilities	602	141
Long-term notes payable - due to stockholders	0	175
Total liabilities	602	316
COMMITMENTS AND CONTINGENCIES
Shareholders' deficit:
Series A convertible preferred stock, $0.000001 par value, 5,000,000,000 shares authorized, 4,600,000,000 shares issued and outstanding at March 31, 2015 and June 30, 2014; ( Liquidation preference 20,700,000 as of March 31, 2015)	5	5
Common stock, $.000001 par value, 100,000,000,000 shares authorized, 400,000,000 shares issued and outstanding at March 31, 2015 and June 30, 2014	0	0
Additional paid-in capital	1,053	1,053
Accumulated deficit	-1,443	-1,079
Shareholders' deficit attributed to Atrinsic, Inc.	-385	-21
Non-controlling interest	-69	-49
Total shareholders' deficit	-454	-70
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$148	$246

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Mar. 31, 2015	Jun. 30, 2014
Series A convertible preferred stock, Par or Stated Value Per Share (in dollars per share)	$0.00	$0.00
Series A convertible preferred stock, Shares Authorized	5,000,000,000	5,000,000,000
Series A convertible preferred stock, Shares Issued	4,600,000,000	4,600,000,000
Series A convertible preferred stock, Shares Outstanding	4,600,000,000	4,600,000,000
Series A convertible preferred stock, Liquidation Preference, Value	$20,700,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$0.00	$0.00
Common Stock, Shares Authorized	100,000,000,000	100,000,000,000
Common Stock, Shares, Issued	400,000,000	400,000,000
Common Stock, Shares, Outstanding	400,000,000	400,000,000

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended		0 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jul. 11, 2013
Operating expenses
General and administrative	$121	$390	$377	$816
Research and development	0	8	0	29
Total operating expenses	121	398	377	845
Loss from operations	-121	-398	-377	-845
Other income (expenses)
Other income	1	18	5	32
Interest expenses - stockholders	-6	-1	-12	-1
Total other income (expenses)	-5	17	-7	31
Net loss before reorganization items	-126	-381	-384	-814
Reorganization items
Gain on reorganization, net	0	0	0	0
Legal and professional fees	0	0	0	-204
Total reorganization items	0	0	0	-204
Net (loss) income	-126	-381	-384	-1,018
Less: net loss attributable to non-controlling interest	-7	-11	-20	-35
Net (loss) income attributable to Atrinsic	-119	-370	-364	-983
Net (loss) income per share attributable to Atrinsic common shareholders
Basic (in dollars per share)	$0	$0	$0	$0
Diluted (in dollars per share)	$0	$0	$0	$0
Weighted average shares outstanding:
Basic (in shares)	400,000,000	400,000,000	400,000,000	400,000,000
Diluted (in shares)	400,000,000	400,000,000	400,000,000	400,000,000
Predecessor [Member]
Operating expenses
General and administrative					0
Research and development					0
Total operating expenses					0
Loss from operations					0
Other income (expenses)
Other income					0
Interest expenses - stockholders					0
Total other income (expenses)					0
Net loss before reorganization items					0
Reorganization items
Gain on reorganization, net					778
Legal and professional fees					0
Total reorganization items					778
Net (loss) income					778
Less: net loss attributable to non-controlling interest					0
Net (loss) income attributable to Atrinsic					$778
Net (loss) income per share attributable to Atrinsic common shareholders
Basic (in dollars per share)					$0.01
Diluted (in dollars per share)					$0.01
Weighted average shares outstanding:
Basic (in shares)					100,000,000
Diluted (in shares)					100,000,000

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jul. 11, 2013
Cash flows from operating activities
Net (loss) income attributable to Atrinsic	($364)	($983)
Adjustments to reconcile net loss to net cash used in operating activities:
Net loss attributable to non-controlling interest in subsidiary	-20	-35
Non-cash reorganization items	0	0
Stock-based compensation	0	275
Accrued interest on notes payable	12	1
Changes in operating assets and liabilities of business, net of acquisitions:
Prepaid expenses	55	72
Accounts payable, excluding reorganization items	34	-33
Net cash used in operating activities	-283	-703
Cash flows from investing activities
Purchase of property and equipment	-1	-1
Net cash used in investing activities	-1	-1
Cash flows from financing activities
Proceeds from issuance of notes payable due to stockholders	240	175
Net cash provided by financing activities	240	175
Net decrease in cash	-44	-529
Cash at beginning of period	101	717
Cash at end of period	57	188
Predecessor [Member]
Cash flows from operating activities
Net (loss) income attributable to Atrinsic			778
Adjustments to reconcile net loss to net cash used in operating activities:
Net loss attributable to non-controlling interest in subsidiary			0
Non-cash reorganization items			-778
Stock-based compensation			0
Accrued interest on notes payable			0
Changes in operating assets and liabilities of business, net of acquisitions:
Prepaid expenses			0
Accounts payable, excluding reorganization items			0
Net cash used in operating activities			0
Cash flows from investing activities
Purchase of property and equipment			0
Net cash used in investing activities			0
Cash flows from financing activities
Proceeds from issuance of notes payable due to stockholders			0
Net cash provided by financing activities			0
Net decrease in cash			0
Cash at beginning of period			717
Cash at end of period			$717

NATURE_OF_OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	NOTE 1 - NATURE OF OPERATIONS
	Prior to filing Chapter 11 on June 15, 2012, the Company was a direct marketing company based in the United States. The Company had two main service offerings: (i) transactional services; and (ii) subscription services. Transactional services offered full service online marketing and distribution services which were targeted and measurable online campaigns and programs for marketing partners, corporate advertisers, or their agencies, generating qualified customer leads, online responses and activities, or increased brand recognition. Subscription services offered a portfolio of subscription based content applications direct to users working with wireless carriers and other distributors.
	On June 15, 2012, the Company filed Chapter 11 in the United States Bankruptcy Court in Southern District of New York (Case No. 12-12553). As of that date, the Company terminated all remaining employees and ceased its normal business operations.
	The Company emerged from Chapter 11 on June 26, 2013, at which time the Plan of Reorganization was conditionally confirmed by the United States Bankruptcy Court, Southern District of New York. The confirmation was subject to the consummation of the Company’s acquisition of a 51% controlling interest in Momspot LLC (“Momspot”), which was subsequently completed on July 12, 2013 (“Emergence Date”). Momspot’s goal is to be the premier specialty retail affiliate marketing company targeting women between the ages of 24 and 45 who are either mothers or expecting their first child. The Emergence Date was the date the Company adopted fresh start accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 852. The adoption of fresh-start accounting resulted in the Company becoming a new entity for financial reporting purposes. Accordingly, the financial statements on or prior to July 12, 2013 are not comparable with the financial statements for periods after July 12, 2013.

LIQUIDITY_AND_GOING_CONCERN

LIQUIDITY AND GOING CONCERN	9 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity And Going Concern [Text Block]	NOTE 2 - LIQUIDITY AND GOING CONCERN
	The Company intends to finance its activities through:
	·	managing current cash on hand; and
	·	seeking additional funds raised in the future.
	The Company has experienced recurring losses and negative cash flow from operations since emerging from bankruptcy. There is substantial doubt about the Company’s ability to continue as a going concern as it is dependent on its ability to obtain short term financing and ultimately to generate sufficient cash flow to meet its obligations on a timely basis in order to attain profitability, as well as successfully obtain financing on favorable terms to fund the Company’s long term plans. The Company continually projects anticipated cash requirements, which may include business combinations, capital expenditures, and working capital requirements. As of March 31, 2015, the Company had cash of approximately $57, a working capital deficit of approximately $456 including note payable to stockholders due July 2015, and a total shareholders’ deficit of $454. During the nine months ended March 31, 2015, the Company used approximately $283 of cash for operations. The Company’s existing liquidity is not sufficient to fund its operations, anticipated capital expenditures, working capital and other financing requirements for the foreseeable future.
	The Company needs to raise additional capital to cover its budgeted operating and capital expenditures. If the capital raising efforts are not successful, the Company might not be able to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company not be able to continue as a going concern. These factors among others create a substantial doubt about the Company’s ability to continue as a going concern.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company are unaudited and do not include all of the information and disclosures generally required for annual financial statements. In the opinion of management, the statements contain all material adjustments (consisting of normal recurring accruals) necessary to present fairly the Company’s condensed consolidated financial position as of March 31, 2015, and the condensed consolidated results of its operations and cash flows for the nine month period ended March 31, 2015 and for the period from July 12, 2013 to March 31, 2014 (Successor Company) and eleven days ended July 11, 2013 (Predecessor Company). This report should be read in conjunction with the Company’s Annual Report on Form 10-K, filed with Securities and Exchange Commission on October 14, 2014, which contains the complete information and disclosure for the year ended June 30, 2014. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
	Principles of Consolidation
	The ownership of more than 50% of the voting stock of an entity creates a subsidiary. The financial statements of the parent and subsidiary are consolidated for reporting purposes.
	The unaudited condensed consolidated financial statements include the accounts of all majority and wholly-owned (“Momspot”) subsidiaries and significant intercompany balances and transactions have been eliminated.
	Use of Estimates
	The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses as well as the disclosure of contingent assets and liabilities. Management continually evaluates its estimates and judgments including those related to fair value of stock options granted and income taxes. Management bases its estimates and judgments on historical experience and other factors that are believed to be reasonable in the circumstances. Actual results may differ from those estimates. Macroeconomic conditions may directly, or indirectly through the Company’s business partners and vendors, impact the Company’s financial performance and available resources. Such conditions may, in turn, impact the aforementioned estimates and assumptions.
	Stock-Based Compensation
	The Company records stock based compensation in accordance with ASC 718. In estimating the grant date fair value of stock option awards and performance based restricted stock, the Company uses the Black Scholes option pricing model and other binomial pricing models where appropriate. The key assumptions for these models to derive fair value include expected term, rate of risk free returns and volatility. Information about the Company’s specific award plans can be found in Note 5.
	Earnings per Share
	Basic earnings per share (“EPS”) is computed by dividing reported earnings by the weighted average number of shares of common stock outstanding for the period. Diluted EPS includes the effect, if any, of the potential issuance of additional shares of common stock as a result of the exercise or conversion of dilutive securities, using the treasury stock method.
	Potential dilutive securities for the Company include outstanding convertible preferred shares and stock options.
	Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at March 31, 2015 and March 31, 2014, because such securities are anti-dilutive, are as follows:
		As of March 31,
		2015		2014
	Convertible preferred shares		4,600,000,000		4,600,000,000
	Options to purchase common stock		275,000,000		275,000,000
	Total		4,875,000,000		4,875,000,000
	Recent Accounting Pronouncements
	The Financial Accounting Standards Board (“FASB”) has issued Accounting Standards Update (“ASU”) No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This ASU requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s condensed consolidated financial position and results of operations.
	In August 2014, the FASB issued ASU 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this ASU provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for public and nonpublic entities for annual periods ending after December 15, 2016. Early adoption is permitted. The Company has elected to early adopt the provisions of ASU 2014-15 in connection with the issuance of these unaudited condensed consolidated financial statements. Management’s evaluations regarding the events and conditions that raise substantial doubt regarding the Company’s ability to continue as a going concern have been disclosed in Note 2.

FRESH_START_ACCOUNTING

FRESH START ACCOUNTING	9 Months Ended
	Mar. 31, 2015
Reorganizations [Abstract]
Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]	NOTE 4 - FRESH START ACCOUNTING
	On July 12, 2013, the Company adopted fresh start accounting and reporting in accordance with Topic ASC 852. The Company was required to apply the provisions of fresh start reporting to its financial statements, as the holders of existing voting shares of the Predecessor Company received less than 50% of the voting shares of the emerging entity and the reorganization value of the Predecessor Company’s assets immediately before the date of confirmation was less than the post-petition liabilities and allowed claims.
	Fresh start accounting and reporting generally requires resetting the historical net book value of assets and liabilities to fair value as of the Effective Date by allocating the entity’s enterprise value as set forth in the Reorganization Plan to its assets and liabilities pursuant to accounting guidance related to business combinations. The financial statements as of the Effective Date report the results of the Successor Company with no beginning retained earnings or accumulated deficit. Any presentation of the Successor Company represents the financial position and results of operations of a new reporting entity and is not comparable to prior periods. The unaudited condensed consolidated financial statements for periods ended prior to the Effective Date do not include the effect of any changes in capital structure or changes in the fair value of assets and liabilities as a result of fresh start accounting.
	In accordance with ASC Topic 852, the Predecessor Company’s pre-emergence charges to earnings of $778, recorded as reorganization items result from certain costs and expenses relating to the Reorganization Plan becoming effective, including the cancellation of certain debt upon issuance of new equity.
	Methodology, Analysis and Assumptions
	The Company determined that the fair value of the Company (“Reorganization Value”) on the Effective date to be minimal.
	The Company’s valuation was based upon a discounted cash flow methodology, which included a calculation of the present value of expected un-levered after-tax free cash flows reflected in the Company’s long-term financial projections, including the calculation of the present value of the terminal value of cash flows, and supporting analysis that included a comparison of selected financial data of the Company with similar data of other publicly held companies comparable to ours in terms of end markets, operational characteristics, growth prospects and geographical footprint. The Company also considered precedent transaction analysis but ultimately determined there was insufficient data for a meaningful analysis.
		July 12, 2013
		Predecessor		Reorganization			Successor Company
		Company		Adjustments
	ASSETS
	Current assets
	Cash and cash equivalents	$	717	$	-		$	717
	Prepaid expenses and other current assets		237					237
	Total current assets		954		-			954
	TOTAL ASSETS	$	954	$	-		$	954
	LIABILITIES AND EQUITY
	Current liabilities
	Accounts payable and accrued expenses	$	15,566	$	-15,395	-2	$	171
	Note payable		2,614		-2,614	-3		-
	Total current liabilities		18,180		-18,009			171
	TOTAL LIABILITIES		18,180		-18,009			171
	COMMITMENTS AND CONTINGENCIES		-		-			-
	STOCKHOLDERS' EQUITY/ DEFICIENCY
	Convertible preferred stock - par value $.000001, 5,000,000,000 shares authorized, 4,600,000,000 shares issued and outstanding at July 11, 2013; no shares authorized, issued or outstanding at June 30, 2013		-		5	-3		5
	Common stock - par value $.000001, 100,000,000,000 shares authorized, 400,000,000 shares issued and outstanding at July 11, 2013; par value $.01, 100,000,000 authorized and outstanding at June 30, 2013.		1,000		-1,000	-1		-
	Additional paid-in capital		182,281		-182,281	-4		-
					778	-5		778
	Common stock, held in treasury, at cost, 0 and 681,509 shares at July 11, 2013 and June 30, 2013, respectively.		-4,981		4,981	-4		-
	Accumulated income (deficit)		-195,526		195,526	-1		-
	TOTAL SHAREHOLDERS EQUITY/ DEFICIENCY		-17,226		18,009			783
	TOTAL LIABILITIES AND SHAREHOLDERS EQUITY/ DEFICIENCY	$	954	$	-		$	954
	1) To reduce the total par value of stock held by the pre-petition stockholders to $100, in accordance with the new post-bankruptcy capital structure
	2) To record conversion of pre-petition Accounts Payable to 300,000,000, $0.000001 par value common shares, in accordance with the new post-bankruptcy capital structure
	3) To record conversion of note payable to 4,600,000,000, $0.000001 par value shares of convertible preferred stock, in accordance with the new post-bankruptcy petition capital structure
	4) To eliminate Treasury Stock. APIC and Accumulated Deficit as of July 11, 2013
	5) Elimination of Predecessor Company accumulated deficit July 1, 2013 to July 11, 2013

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 5 - STOCKHOLDERS’ EQUITY
	Stock Options
	On February 11, 2014, the Company issued options with a term of five (5) years and an exercise price of $0.002 to the individuals below for the number of shares of common stock:
	The Company granted to Sebastian Giordano, for services as Chief Restructuring Officer and Acting Chief Executive Officer, an option to purchase 125,000,000 shares of the Company’s Common Stock.
	The Company granted to each of Edward Gildea and Jonathan Schechter, for services as directors of the Company, an option to purchase 50,000,000 shares of the Company’s Common Stock.
	On February 28, 2014, the Company granted to Edward Gildea, for services to be rendered as Acting Chief Executive Officer, an option to purchase 50,000,000 shares of the Company’s Common Stock with a term of five (5) years and an exercise price of $0.002.
	All of the shares covered by these options immediately vested on the grant date.
	The grant date fair value of stock options granted was approximately $275. The fair value of the Company’s common stock was based upon the publicly quoted price on the date of grant. The expected term for stock options granted with service conditions represents the average period the stock options are expected to remain outstanding and is based on the expected term calculated using the approach prescribed by the Securities and Exchange Commission's Staff Accounting Bulletin No. 110 for “plain vanilla” options. The Company obtained the risk free interest rate from publicly available data published by the Federal Reserve. The volatility rate was computed based on a comparison of average volatility rates of similar companies. The fair value of the options was determined using the Black-Scholes model with the following assumptions: risk free interest rate - 0.69% to 0.71%, volatility - 84.40%, expected term - 2.5 years, expected dividends- N/A.
	As of March 31, 2015, the weighted average exercise price of all stock options outstanding was $0.002, the remaining contractual life was 3.9 years and there was no intrinsic value.

NOTES_PAYABLE_DUE_TO_STOCKHOLD

NOTES PAYABLE DUE TO STOCKHOLDERS	9 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 6 - NOTES PAYABLE DUE TO STOCKHOLDERS
	On August 15, 2014, the Company raised gross proceeds, in a debt financing transaction, of $90 from its two principal stockholders, and issued secured promissory notes in the principal amount of $45 to each of them. On December 18, 2014, the Company raised gross proceeds, in a debt financing transaction, of $150 from its two principal stockholders, and issued secured promissory notes in the principal amount of $75 to each of them. The notes have a Maturity Date of July 31, 2015 and bear interest at the rate of 5.0% per annum, payable at maturity. Any amounts that remain unpaid after July 31, 2015, shall thereafter bear interest at the rate of twelve percent (12%) per annum. Interest is calculated on the basis of actual number of days elapsed over a year of 360 days. The notes are secured by all the assets of the Company.
		Amount Due
	Outstanding as of June 30, 2014	$	175
	Issued		240
	Outstanding as of March 31, 2015	$	415
	During the three months ended March 31, 2015, interest expense amounted to approximately $6. During the nine months ended March 31, 2015, interest expense amounted to approximately $12. Accrued interest as of March 31, 2015 was approximately $15.

BUSINESS_COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	NOTE 7 - BUSINESS COMBINATIONS
	The Momspot Acquisition
	Pursuant to the terms of a Membership Interest Purchase Agreement, dated July, 2013, the Company acquired a 51% equity interest in Momspot LLC, (“Momspot”) in exchange for the Company’s commitment to contribute up to $165 of working capital to Momspot over a two-year period to fund its business development and operations. Simultaneous with the acquisition the Company became a party to the Momspot Operating Agreement and the manager thereunder. Momspot meets the definition of a “business” in accordance with ASC Topic 805.
	MomSpot is a start-up company. Momspot’s goal is to be the premier specialty retail affiliate marketing company targeting women between the ages of 24 and 45 who are either mothers or expecting their first child (“Moms”).
	The results for Momspot for the period ended March 31, 2015 are consolidated in the unaudited condensed consolidated financial statements within this document.
	The fair value of the purchase consideration was allocated to fair value of the net tangible assets acquired, with the resulting excess allocated to separately identifiable intangibles, and the remainder recorded as goodwill, if any.
	The purchase price was allocated as follows:
	Purchase Consideration:
	Fair value of Momspot (1)		$	-
	Tangible assets acquired			-
		-1	Fair value, which was not material, was based upon the fair value of the cash consideration paid by the Company for the acquisition of Momspot ($0 consideration received) and a discounted cash flow analysis, including the calculation of the present value of the terminal value of cash flows, and supporting analysis that included a comparison of selected financial data of the Company with similar data of other publicly held companies comparable to ours in terms of end markets, operational characteristics, growth prospects and geographical footprint.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 8 - SUBSEQUENT EVENTS
	The Company has evaluated the period after the balance sheet date up through the date that the condensed consolidated financial statements were issued, and determined that other than noted above, there were no subsequent events or transactions that required recognition or disclosure in the condensed consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company are unaudited and do not include all of the information and disclosures generally required for annual financial statements. In the opinion of management, the statements contain all material adjustments (consisting of normal recurring accruals) necessary to present fairly the Company’s condensed consolidated financial position as of March 31, 2015, and the condensed consolidated results of its operations and cash flows for the nine month period ended March 31, 2015 and for the period from July 12, 2013 to March 31, 2014 (Successor Company) and eleven days ended July 11, 2013 (Predecessor Company). This report should be read in conjunction with the Company’s Annual Report on Form 10-K, filed with Securities and Exchange Commission on October 14, 2014, which contains the complete information and disclosure for the year ended June 30, 2014. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
	The ownership of more than 50% of the voting stock of an entity creates a subsidiary. The financial statements of the parent and subsidiary are consolidated for reporting purposes.
	The unaudited condensed consolidated financial statements include the accounts of all majority and wholly-owned (“Momspot”) subsidiaries and significant intercompany balances and transactions have been eliminated.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
	The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses as well as the disclosure of contingent assets and liabilities. Management continually evaluates its estimates and judgments including those related to fair value of stock options granted and income taxes. Management bases its estimates and judgments on historical experience and other factors that are believed to be reasonable in the circumstances. Actual results may differ from those estimates. Macroeconomic conditions may directly, or indirectly through the Company’s business partners and vendors, impact the Company’s financial performance and available resources. Such conditions may, in turn, impact the aforementioned estimates and assumptions.
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation
	The Company records stock based compensation in accordance with ASC 718. In estimating the grant date fair value of stock option awards and performance based restricted stock, the Company uses the Black Scholes option pricing model and other binomial pricing models where appropriate. The key assumptions for these models to derive fair value include expected term, rate of risk free returns and volatility. Information about the Company’s specific award plans can be found in Note 5.
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share
	Basic earnings per share (“EPS”) is computed by dividing reported earnings by the weighted average number of shares of common stock outstanding for the period. Diluted EPS includes the effect, if any, of the potential issuance of additional shares of common stock as a result of the exercise or conversion of dilutive securities, using the treasury stock method.
	Potential dilutive securities for the Company include outstanding convertible preferred shares and stock options.
	Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at March 31, 2015 and March 31, 2014, because such securities are anti-dilutive, are as follows:
		As of March 31,
		2015		2014
	Convertible preferred shares		4,600,000,000		4,600,000,000
	Options to purchase common stock		275,000,000		275,000,000
	Total		4,875,000,000		4,875,000,000
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements
	The Financial Accounting Standards Board (“FASB”) has issued Accounting Standards Update (“ASU”) No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This ASU requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s condensed consolidated financial position and results of operations.
	In August 2014, the FASB issued ASU 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this ASU provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for public and nonpublic entities for annual periods ending after December 15, 2016. Early adoption is permitted. The Company has elected to early adopt the provisions of ASU 2014-15 in connection with the issuance of these unaudited condensed consolidated financial statements. Management’s evaluations regarding the events and conditions that raise substantial doubt regarding the Company’s ability to continue as a going concern have been disclosed in Note 2.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at March 31, 2015 and March 31, 2014, because such securities are anti-dilutive, are as follows:
		As of March 31,
		2015		2014
	Convertible preferred shares		4,600,000,000		4,600,000,000
	Options to purchase common stock		275,000,000		275,000,000
	Total		4,875,000,000		4,875,000,000

FRESH_START_ACCOUNTING_Tables

FRESH START ACCOUNTING (Tables)	9 Months Ended
	Mar. 31, 2015
Reorganizations [Abstract]
Schedule of Fresh-Start Adjustments [Table Text Block]	The Company also considered precedent transaction analysis but ultimately determined there was insufficient data for a meaningful analysis.
		July 12, 2013
		Predecessor		Reorganization			Successor Company
		Company		Adjustments
	ASSETS
	Current assets
	Cash and cash equivalents	$	717	$	-		$	717
	Prepaid expenses and other current assets		237					237
	Total current assets		954		-			954
	TOTAL ASSETS	$	954	$	-		$	954
	LIABILITIES AND EQUITY
	Current liabilities
	Accounts payable and accrued expenses	$	15,566	$	-15,395	-2	$	171
	Note payable		2,614		-2,614	-3		-
	Total current liabilities		18,180		-18,009			171
	TOTAL LIABILITIES		18,180		-18,009			171
	COMMITMENTS AND CONTINGENCIES		-		-			-
	STOCKHOLDERS' EQUITY/ DEFICIENCY
	Convertible preferred stock - par value $.000001, 5,000,000,000 shares authorized, 4,600,000,000 shares issued and outstanding at July 11, 2013; no shares authorized, issued or outstanding at June 30, 2013		-		5	-3		5
	Common stock - par value $.000001, 100,000,000,000 shares authorized, 400,000,000 shares issued and outstanding at July 11, 2013; par value $.01, 100,000,000 authorized and outstanding at June 30, 2013.		1,000		-1,000	-1		-
	Additional paid-in capital		182,281		-182,281	-4		-
					778	-5		778
	Common stock, held in treasury, at cost, 0 and 681,509 shares at July 11, 2013 and June 30, 2013, respectively.		-4,981		4,981	-4		-
	Accumulated income (deficit)		-195,526		195,526	-1		-
	TOTAL SHAREHOLDERS EQUITY/ DEFICIENCY		-17,226		18,009			783
	TOTAL LIABILITIES AND SHAREHOLDERS EQUITY/ DEFICIENCY	$	954	$	-		$	954
	1) To reduce the total par value of stock held by the pre-petition stockholders to $100, in accordance with the new post-bankruptcy capital structure
	2) To record conversion of pre-petition Accounts Payable to 300,000,000, $0.000001 par value common shares, in accordance with the new post-bankruptcy capital structure
	3) To record conversion of note payable to 4,600,000,000, $0.000001 par value shares of convertible preferred stock, in accordance with the new post-bankruptcy petition capital structure
	4) To eliminate Treasury Stock. APIC and Accumulated Deficit as of July 11, 2013
	5) Elimination of Predecessor Company accumulated deficit July 1, 2013 to July 11, 2013

NOTES_PAYABLE_DUE_TO_STOCKHOLD1

NOTES PAYABLE DUE TO STOCKHOLDERS (Tables)	9 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Secured Debt [Table Text Block]	The notes are secured by all the assets of the Company.
		Amount Due
	Outstanding as of June 30, 2014	$	175
	Issued		240
	Outstanding as of March 31, 2015	$	415

BUSINESS_COMBINATIONS_Tables

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The purchase price was allocated as follows:
	Purchase Consideration:
	Fair value of Momspot (1)		$	-
	Tangible assets acquired			-
		-1	Fair value, which was not material, was based upon the fair value of the cash consideration paid by the Company for the acquisition of Momspot ($0 consideration received) and a discounted cash flow analysis, including the calculation of the present value of the terminal value of cash flows, and supporting analysis that included a comparison of selected financial data of the Company with similar data of other publicly held companies comparable to ours in terms of end markets, operational characteristics, growth prospects and geographical footprint.

NATURE_OF_OPERATIONS_Details_T

NATURE OF OPERATIONS (Details Textual) (Momspot LLC [Member])	Jul. 11, 2013
Momspot LLC [Member]
Nature Of Operations And Going Concern [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%

LIQUIDITY_AND_GOING_CONCERN_De

LIQUIDITY AND GOING CONCERN (Details Textual) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014	Jul. 11, 2013
Cash and Cash Equivalents, at Carrying Value	$57	$188	$101	$717
Working Capital Deficit	456
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	-283	-703
Total shareholders' deficit	($454)		($70)

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,875,000,000	4,875,000,000
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	275,000,000	275,000,000
Convertible preferred shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,600,000,000	4,600,000,000

FRESH_START_ACCOUNTING_Details

FRESH START ACCOUNTING (Details) (USD $)	Jul. 11, 2013
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$717
Prepaid expenses and other current assets	237
Total current assets	954
TOTAL ASSETS	954
Current liabilities
Accounts payable and accrued expenses	15,566
Note payable	2,614
Total current liabilities	18,180
TOTAL LIABILITIES	18,180
COMMITMENTS AND CONTINGENCIES	0
STOCKHOLDERS' EQUITY/ DEFICIENCY
Convertible preferred stock - par value $.000001, 5,000,000,000 shares authorized, 4,600,000,000 shares issued and outstanding at July 11, 2013; no shares authorized, issued or outstanding at June 30, 2013	0
Common stock - par value $.000001, 100,000,000,000 shares authorized, 400,000,000 shares issued and outstanding at July 11, 2013; par value $.01, 100,000,000 authorized and outstanding at June 30, 2013.	1,000
Additional paid-in capital	182,281
Common stock, held in treasury, at cost, 0 and 681,509 shares at July 11, 2013 and June 30, 2013, respectively.	-4,981
Accumulated income (deficit)	-195,526
TOTAL SHAREHOLDERS EQUITY/ DEFICIENCY	-17,226
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY/ DEFICIENCY	954
Current assets
Cash and cash equivalents	0
Total current assets	0
TOTAL ASSETS	0
Current liabilities
Accounts payable and accrued expenses	-15,395	[1]
Note payable	-2,614	[2]
Total current liabilities	-18,009
TOTAL LIABILITIES	-18,009
COMMITMENTS AND CONTINGENCIES	0
STOCKHOLDERS' EQUITY/ DEFICIENCY
Convertible preferred stock - par value $.000001, 5,000,000,000 shares authorized, 4,600,000,000 shares issued and outstanding at July 11, 2013; no shares authorized, issued or outstanding at June 30, 2013	5	[2]
Common stock - par value $.000001, 100,000,000,000 shares authorized, 400,000,000 shares issued and outstanding at July 11, 2013; par value $.01, 100,000,000 authorized and outstanding at June 30, 2013.	-1,000	[3]
Additional paid-in capital	-182,281	[4]
Fresh start adjustment additional paid in capital adjustment	778	[5]
Common stock, held in treasury, at cost, 0 and 681,509 shares at July 11, 2013 and June 30, 2013, respectively.	4,981	[4]
Accumulated income (deficit)	195,526	[3]
TOTAL SHAREHOLDERS EQUITY/ DEFICIENCY	18,009
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY/ DEFICIENCY	0
Current assets
Cash and cash equivalents	717
Prepaid expenses and other current assets	237
Total current assets	954
TOTAL ASSETS	954
Current liabilities
Accounts payable and accrued expenses	171
Note payable	0
Total current liabilities	171
TOTAL LIABILITIES	171
COMMITMENTS AND CONTINGENCIES	0
STOCKHOLDERS' EQUITY/ DEFICIENCY
Convertible preferred stock - par value $.000001, 5,000,000,000 shares authorized, 4,600,000,000 shares issued and outstanding at July 11, 2013; no shares authorized, issued or outstanding at June 30, 2013	5
Common stock - par value $.000001, 100,000,000,000 shares authorized, 400,000,000 shares issued and outstanding at July 11, 2013; par value $.01, 100,000,000 authorized and outstanding at June 30, 2013.	0
Additional paid-in capital	0
Postconfirmation additional paid in capital adjustment	778
Common stock, held in treasury, at cost, 0 and 681,509 shares at July 11, 2013 and June 30, 2013, respectively.	0
Accumulated income (deficit)	0
TOTAL SHAREHOLDERS EQUITY/ DEFICIENCY	783
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY/ DEFICIENCY	$954
[1]	To record conversion of pre-petition Accounts Payable to 300,000,000, $0.000001 par value common shares, in accordance with the new post-bankruptcy capital structure
[2]	To record conversion of note payable to 4,600,000,000, $0.000001 par value shares of convertible preferred stock, in accordance with the new post-bankruptcy petition capital structure
[3]	To reduce the total par value of stock held by the pre-petition stockholders to $100, in accordance with the new post-bankruptcy capital structure
[4]	To eliminate Treasury Stock. APIC and Accumulated Deficit as of July 11, 2013
[5]	Elimination of Predecessor Company accumulated deficit July 1, 2013 to July 11, 2013

FRESH_START_ACCOUNTING_Details1

FRESH START ACCOUNTING (Details Textual) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Jul. 11, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014	Jun. 30, 2013
Fresh-Start Adjustment [Line Items]
Preferred Stock, Par or Stated Value Per Share		$0.00		$0.00		$0.00
Preferred Stock, Shares Authorized		5,000,000,000		5,000,000,000		5,000,000,000
Preferred Stock, Shares Issued		4,600,000,000		4,600,000,000		4,600,000,000
Preferred Stock, Shares Outstanding		4,600,000,000		4,600,000,000		4,600,000,000
Common Stock, Par or Stated Value Per Share		$0.00		$0.00		$0.00
Common Stock, Shares Authorized		100,000,000,000		100,000,000,000		100,000,000,000
Common Stock, Shares, Issued		400,000,000		400,000,000		400,000,000
Common Stock, Shares, Outstanding		400,000,000		400,000,000		400,000,000
Existing Predecessor Voting Shares Percentage	less than 50%
Reorganization Items		$0	$0	$0	($204)
Predecessor [Member]
Fresh-Start Adjustment [Line Items]
Common Stock, Par or Stated Value Per Share	0.000001						$0.01
Common Stock, Shares Authorized	100,000,000,000						100,000,000
Common Stock, Shares, Issued	400,000,000
Common Stock, Shares, Outstanding	400,000,000						100,000,000
Treasury Stock, Shares	0						681,509
Reorganization Items	778
Reduction In Total Par Value Of Stock Held By Pre Petition Stockholders	100
Shares Issued Conversion Of Pre Petition Accounts Payable	300,000,000
Shares Issued Conversion Of Pre Petition Notes Payable	4,600,000,000
Convertible Preferred Stock [Member]
Fresh-Start Adjustment [Line Items]
Common Stock, Par or Stated Value Per Share	0.000001
Convertible Preferred Stock [Member] | Predecessor [Member]
Fresh-Start Adjustment [Line Items]
Preferred Stock, Par or Stated Value Per Share	0.000001
Preferred Stock, Shares Authorized	5,000,000,000						0
Preferred Stock, Shares Issued	4,600,000,000						0
Preferred Stock, Shares Outstanding	4,600,000,000						0

STOCKHOLDERS_EQUITY_Details_Te

STOCKHOLDERS' EQUITY (Details Textual) (USD $)	0 Months Ended	9 Months Ended	1 Months Ended
In Thousands, except Share data, unless otherwise specified	Feb. 11, 2014	Mar. 31, 2015	Feb. 28, 2014
Class of Stock [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$0.00
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Fair Value		$275
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum		0.69%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum		0.71%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate		84.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		2 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$0.00
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		3 years 10 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$0
Sebastian Giordano [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	125,000,000
Edward Gildea [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$0.00
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	50,000,000		50,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			5 years

NOTES_PAYABLE_DUE_TO_STOCKHOLD2

NOTES PAYABLE DUE TO STOCKHOLDERS (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Short-term Debt [Line Items]
Outstanding as of June 30, 2014	$175
Issued	240
Outstanding as of March 31, 2015	$415

NOTES_PAYABLE_DUE_TO_STOCKHOLD3

NOTES PAYABLE DUE TO STOCKHOLDERS (Details Textual) (USD $)	9 Months Ended		1 Months Ended	0 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 18, 2014	Aug. 15, 2014	Mar. 31, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Interest Payable, Current	$15				$15	$3
Proceeds from Notes Payable	240	175
Interest Expense, Debt	12	1
Secured Promissory Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period	5.00%
Debt Instrument, Maturity Date	31-Jul-15
Interest Payable, Current	15				15
Debt Instrument, Issuance Date	15-Aug-14
Proceeds from Notes Payable			150	90
Debt Instrument, Interest Rate, Increase (Decrease)	12.00%
Interest Expense, Debt	12				6
Secured Promissory Notes [Member] | Principal Stockholders One [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			75	45
Secured Promissory Notes [Member] | Principal Stockholders Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$75	$45

BUSINESS_COMBINATIONS_Details

BUSINESS COMBINATIONS (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$0
Momspot LLC [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$0	[1]
[1]	Fair value, which was not material, was based upon the fair value of the cash consideration paid by the Company for the acquisition of Momspot ($0 consideration received) and a discounted cash flow analysis, including the calculation of the present value of the terminal value of cash flows, and supporting analysis that included a comparison of selected financial data of the Company with similar data of other publicly held companies comparable to ours in terms of end markets, operational characteristics, growth prospects and geographical footprint.

BUSINESS_COMBINATIONS_Details_

BUSINESS COMBINATIONS (Details Textual) (Momspot LLC [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jul. 11, 2013
Momspot LLC [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		51.00%
Business Acquisition, Preacquisition Contingency, Amount of Settlement		$165
Business Combination, Consideration Transferred	$0