Perspective Therapeutics (CATX) 10-Q 14 Nov 13 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2013	Nov. 06, 2013
Document and Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Entity Registrant Name	'IsoRay, Inc.	'
Entity Central Index Key	'0000728387	'
Current Fiscal Year End Date	'--06-30	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	38,419,502

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Jun. 30, 2013
Current assets:	'	'
Cash and cash equivalents	$5,284,163	$2,899,927
Accounts receivable, net of allowance for doubtful accounts of $47,597 and $52,598, respectively	962,256	923,780
Inventory	436,244	405,571
Other receivables	9,293	11,502
Prepaid expenses and other current assets	210,404	202,880
Total current assets	6,902,360	4,443,660
Fixed assets, net of accumulated depreciation	1,510,009	1,684,282
Restricted cash	181,167	181,149
Inventory, non-current	469,758	469,758
Other assets, net of accumulated amortization	271,394	276,507
Total assets	9,334,688	7,055,356
Current liabilities:	'	'
Accounts payable and accrued liabilities	653,390	432,566
Accrued protocol expense	8,306	25,305
Accrued radioactive waste disposal	112,000	100,000
Accrued payroll and related taxes	84,933	127,419
Accrued vacation	111,276	107,578
Total current liabilities	969,905	792,868
Warrant derivative liability	140,000	104,000
Asset retirement obligation	810,202	792,242
Total liabilities	1,920,107	1,689,110
Commitments and contingencies (Note 6)	'	'
Shareholders' equity:	'	'
Preferred stock, $.001 par value; 7,001,671 shares authorized:	61	59
Common stock, $.001 par value; 192,998,329 and 193,000,000 shares authorized; 38,419,502 and 34,618,517 shares issued and outstanding	38,420	34,618
Treasury stock, at cost 13,200 shares	-8,390	-8,390
Additional paid-in capital	60,746,730	57,431,293
Accumulated deficit	-53,362,240	-52,091,334
Total shareholders' equity	7,414,581	5,366,246
Total liabilities and shareholders' equity	9,334,688	7,055,356
Series A Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock, $.001 par value; 7,001,671 shares authorized:	'	'
Series B Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock, $.001 par value; 7,001,671 shares authorized:	59	59
Series C Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock, $.001 par value; 7,001,671 shares authorized:	'	'
Series D Preferred Stock [Member]	'	'
Shareholders' equity:	'	'
Preferred stock, $.001 par value; 7,001,671 shares authorized:	$2	'

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Jun. 30, 2013
Accounts receivable, allowance for doubtful accounts	$47,597	$52,598
Preferred stock, par or stated value per share	$0.00	$0.00
Preferred stock, shares authorized	7,001,671	'
Common stock, par value per share	$0.00	$0.00
Common stock, shares authorized	192,998,329	193,000,000
Common stock, shares issued	38,419,502	34,618,517
Common stock, shares outstanding	38,419,502	34,618,517
Treasury stock, shares	13,200	13,200
Series A Preferred Stock [Member]	'	'
Preferred stock, par or stated value per share	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]	'	'
Preferred stock, par or stated value per share	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	59,065	59,065
Preferred stock, shares outstanding	59,065	59,065
Series C Preferred Stock [Member]	'	'
Preferred stock, par or stated value per share	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series D Preferred Stock [Member]	'	'
Preferred stock, par or stated value per share	$0.00	$0.00
Preferred stock, shares authorized	1,671	0
Preferred stock, shares issued	1,670	0
Preferred stock, shares outstanding	1,670	0

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Consolidated Statements of Operations [Abstract]	'	'
Product sales	$1,049,915	$1,056,232
Cost of product sales	1,127,223	1,076,657
Gross loss	-77,308	-20,425
Operating expenses:	'	'
Research and development expenses	146,990	141,472
Sales and marketing expenses	359,185	316,056
General and administrative expenses	651,036	644,853
Total operating expenses	1,157,211	1,102,381
Operating loss	-1,234,519	-1,122,806
Non-operating income (expense):	'	'
Interest income	354	144
Change in fair value of warrant derivative liability	-36,000	129,000
Financing and interest expense	-741	-6
Non-operating income / (expense), net	-36,387	129,138
Net loss	-1,270,906	-993,668
Preferred stock deemed dividends (Note 9)	-726,378	'
Preferred stock dividends	-2,658	-2,658
Net loss applicable to common shareholders	($1,999,942)	($996,326)
Basic and diluted loss per share	($0.06)	($0.03)
Weighted average shares used in computing net loss per share:	'	'
Basic and diluted	35,921,712	33,866,563

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($1,270,906)	($993,668)
Adjustments to reconcile net loss to net cash used by operating activities:	'	'
Allowance for doubtful accounts	-5,001	51,472
Depreciation and amortization of fixed assets	176,314	206,393
Amortization of deferred financing costs and other assets	7,685	7,079
Change in fair value of warrant derivative liability	36,000	-129,000
Accretion of asset retirement obligation	17,960	16,419
Share-based compensation	38,353	28,963
Changes in operating assets and liabilities:	'	'
Accounts receivable	-33,475	-31,514
Inventory	-30,673	33,881
Other receivables	2,209	-1,215
Prepaid expenses, other current assets and other assets	-7,524	-56,832
Accounts payable and accrued expenses	220,824	-41,499
Accrued protocol expense	-16,999	'
Accrued radioactive waste disposal	12,000	12,000
Accrued payroll and related taxes	-42,486	-46,424
Accrued vacation	3,698	5,316
Net cash used by operating activities	-892,021	-938,629
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchases of fixed assets	-2,041	'
Additions to licenses and other assets	-2,572	-6,827
Change in restricted cash	-18	-42
Net cash used by investing activities	-4,631	-6,869
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from sales of preferred stock, pursuant to underwritten offering, net	1,479,431	'
Proceeds from sales of common stock, pursuant to underwritten offering, net	1,801,457	'
Proceeds from sales of common stock, pursuant to registered direct offering, net	'	3,291,977
Proceeds from sales of common stock, pursuant to exercise of warrants, net	'	1,791
Proceeds from cash sales of common stock, pursuant to exercise of options	'	7,746
Net cash provided by financing activities	3,280,888	3,301,514
Net increase in cash and cash equivalents	2,384,236	2,356,016
Cash and cash equivalents, beginning of period	2,899,927	2,672,711
CASH AND CASH EQUIVALENTS, END OF PERIOD	$5,284,163	$5,028,727

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2013
Basis of Presentation [Abstract]	'
Basis of Presentation	'
		1	Basis of Presentation
	The accompanying unaudited interim consolidated financial statements are those of IsoRay, Inc., and its wholly-owned subsidiaries (IsoRay or the Company). All significant intercompany accounts and transactions have been eliminated in consolidation. Certain amounts in the prior-period financial statements have been reclassified to conform to the current-year presentation.
	In the opinion of management, the accompanying unaudited interim consolidated financial statements and notes to the interim consolidated financial statements contain all adjustments, consisting of normal recurring items, necessary to present fairly, in all material respects, the financial position of IsoRay, Inc. and its wholly-owned subsidiaries.  These unaudited interim consolidated financial statements should be read in conjunction with our audited consolidated financial statements and related footnotes as set forth in the Company's annual report filed on Form 10-K for the year ended June 30, 2013.
	The results of operations for the periods presented may not be indicative of those which may be expected for a full year.  The unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States ("GAAP") have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures are adequate for the information not to be misleading.
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting period and the disclosures of contingent liabilities.  Accordingly, ultimate results could differ materially from those estimates. The Company anticipates that as the result of continuing operating losses and the significant net operating losses available from prior fiscal years, its effective income tax rate for fiscal year 2014 will be 0%.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
	Sep. 30, 2013
New Accounting Pronouncements [Abstract]	'
New Accounting Pronouncements	'
		2	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the "FASB") or other standards setting bodies that are adopted by us as of the specified effective dates. Unless otherwise discussed, we believe the impact of recently issued standards that are not yet effective will not have a material impact on our consolidated financial position, results of operations and cash flows upon adoption.

Loss_per_Share

Loss per Share	3 Months Ended
	Sep. 30, 2013
Loss per Share [Abstract]	'
Loss per Share	'
		3	Loss per Share
	Basic earnings per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding, and does not include the impact of any potentially dilutive common stock equivalents. At September 30, 2013 and 2012, the calculation of diluted weighted average shares did not include convertible preferred stock, common stock warrants, or options that are potentially convertible into common stock as those would be antidilutive due to the Company's net loss position.
	Securities not considered in the calculation of diluted weighted average shares, but that could be dilutive in the future as of September 30, 2013 and 2012, were as follows:
			September 30,
			2013		2012
	Series B preferred stock			59,065		59,065
	Series D preferred stock			3,121,481		-
	Common stock warrants			7,605,771		1,957,133
	Common stock options			2,370,072		2,325,772
	Total potential dilutive securities			13,156,389		4,341,970

Inventory

Inventory	3 Months Ended
	Sep. 30, 2013
Inventory [Abstract]	'
Inventory	'
		4	Inventory
	Inventory consisted of the following at September 30, 2013 and June 30, 2013:
			September 30,		June 30,
			2013		2013
	Raw materials		$	161,011	$	167,671
	Work in process			214,386		195,323
	Finished goods			60,847		42,577
			$	436,244	$	405,571

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Sep. 30, 2013
Share-Based Compensation [Abstract]	'
Share-Based Compensation	'
		5	Share-Based Compensation
	The following table presents the share-based compensation expense recognized during the three months ended September 30, 2013 and 2012:
			Three months
			ended September 30,
			2013		2012
	Cost of product sales		$	4,422	$	10,164
	Research and development expenses			3,482		8,718
	Sales and marketing expenses			879		1,659
	General and administrative expenses			29,570		8,422
	Total share-based compensation		$	38,353	$	28,963
	As of September 30, 2013, total unrecognized compensation expense related to stock-based options was $56,060 and the related weighted-average period over which it is expected to be recognized is approximately 0.85 years.
	A summary of stock options within the Company's share-based compensation plans as of September 30, 2013 were as follows:
							Weighted
					Weighted		Average
					Average		Remaining		Aggregate
			Number of		Exercise		Contractual		Intrinsic
			Options		Price		Term		Value
							(Years)
	Outstanding at September 30, 2013			2,370,072	$	1.79		4.82	$	222,581
	Vested and expected to vest at September 30, 2013			2,278,260	$	1.84		4.75	$	203,244
	Vested and exercisable at September 30, 2013			2,080,064	$	1.9		4.38	$	219,581
	There were no options exercised during the three months ended September 30, 2013 and 18,000 exercised during the three months ended September 30, 2012. The Company's current policy is to issue new shares to satisfy option exercises. The intrinsic value of the employee options exercised in the three months ended September 30, 2012 was $11,400.
	There were 65,000 stock option awards granted and no stock option awards granted during the three months ended September 30, 2013 and 2012, respectively.
	There were 50,000 director stock options issued to the Chief Executive Officer and Chairman on September 5, 2013 with an exercise price of $0.58 per share which was the closing price of the Company common stock on the day of issuance. The fair value of the stock options issued on September 5, 2013 using a Black Scholes model is $25,150 utilizing the closing price on the day of grant of $0.58 per share as the grant and exercise price, a five year term, volatility of 132.31% and a discount rate of 1.85%.
	There were 15,000 employee stock options issued to three members of management on September 6, 2013 with an exercise price of $0.59 per share which was the closing price of the Company common stock on the day of issuance. The fair value of the stock options issued on September 6, 2013 using a Black Scholes model is $6,906 utilizing the closing price on the day of grant of $0.59 per share as the grant and exercise price, a five year term, volatility of 132.31% and a discount rate of 1.77%.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2013
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
		6	Commitments and Contingencies
	Patent and Know-How Royalty License Agreement
	The Company is the holder of an exclusive license to use certain "know-how" developed by one of the founders of a predecessor to the Company and licensed to the Company by the Lawrence Family Trust, a Company shareholder. The terms of this license agreement require the payment of a royalty based on the Net Factory Sales Price, as defined in the agreement, of licensed product sales. Because the licensor's patent application was ultimately abandoned, only a 1% "know-how" royalty based on Net Factory Sales Price, as defined in the agreement, remains applicable. To date, management believes that there have been no product sales incorporating the "know-how" and therefore no royalty is due pursuant to the terms of the agreement. Management believes that ultimately no royalties should be paid under this agreement as there is no intent to use this "know-how" in the future.
	The licensor of the "know-how" has disputed management's contention that it is not using this "know-how". On September 25, 2007 and again on October 31, 2007, the Company participated in nonbinding mediation regarding this matter; however, no settlement was reached with the Lawrence Family Trust. After additional settlement discussions, which ended in April 2008, the parties failed to reach a settlement. The parties may demand binding arbitration at any time.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2013
Fair Value Measurements [Abstract]	'
Fair Value Measurements	'
		7	Fair Value Measurements
	The table below sets forth the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013 and June 30, 2013, respectively, and the fair value calculation input hierarchy level the Company has determined applies to each asset and liability category.
			Balance at		Balance at		Input
	Description		September 30, 2013		June 30, 2013		Hierarchy Level
	Assets:
	Cash and cash equivalents		$	5,284,163	$	2,899,927	Level 1
	Restricted cash			181,167		181,149	Level 1
	Liabilities:
	Warrant derivative liability		$	140,000	$	104,000	Level 2

Preferred_Dividends

Preferred Dividends	3 Months Ended
	Sep. 30, 2013
Preferred Dividends [Abstract]	'
Preferred Dividends	'
		8	Preferred Dividends
	On December 21, 2012, the Board of Directors declared a dividend on the Series B Preferred Stock of all currently payable and accrued outstanding and cumulative dividends through December 31, 2012 in the amount of $10,632. The dividends outstanding and cumulative through December 31, 2012 of $10,632 and through December 31, 2011 of $10,632 were paid as of those dates.
	As of September 30, 2013, there were accrued but undeclared dividends on Series B Preferred Stock outstanding in the amount of $7,974.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Sep. 30, 2013
Shareholders' Equity [Abstract]	'
Shareholders' Equity	'
		9	Shareholders' Equity
	Common and preferred stock transactions
	On August 29, 2013, the Company entered into an agreement to sell 3,800,985 common units, each consisting of 1 share of our common stock and a warrant to purchase 0.816 shares of common stock (the "Common Units"), and 1,670 preferred units, each consisting of 1 share of Series D Convertible Preferred Stock and a warrant to purchase 1,525.23 shares of common stock (the "Preferred Units") on a firm commitment underwritten basis. The Common Units were sold at an initial per unit purchase price of $0.535 and the Preferred Units were sold at an initial per unit purchase price of $1,000. The warrants are all exercisable at $0.72 per share and have a twenty-four month term, with the exercise price and term subject to reduction if shareholder approval is obtained. Each share of the Series D Convertible Preferred Stock is convertible into 1,869.15 shares of common stock at any time at the option of the holder, subject to adjustment, provided that the holder will be prohibited from converting Series D Convertible Preferred Stock into shares of the Company's common stock if, as a result of such conversion, the holder, together with affiliates, would own more than 9.99% of the total shares of the Company's common stock then issued and outstanding. The preferred shares which are convertible into shares of common stock contain a beneficial conversion feature of $726,378 which was recognized as a deemed dividend to the Series D preferred shareholders on the date of issuance. This public offering resulted in gross proceeds of $3.7 million. The offering yielded approximately $3,280,888 in cash after expenses.
	Gross proceeds from public offering		$	3,703,527
	Underwriter discount			(185,176	)
	Legal and accounting expense			(182,917	)
	Listing expense			(48,500	)
	Other expense			(6,046	)
	Net proceeds		$	3,280,888
	Warrant derivative liability and related offering cost deferral
	Based on the guidance contained in ASC 815 "Derivatives and Hedging", management has concluded that the warrants issued in the October 13, 2011 underwritten registered offering of 2,500,000 shares of common stock should be classified as a derivative liability and has recorded a liability at fair value. The Company determined the fair value of the warrants using the Black-Scholes fair value model. The Company determined the fair value of the warrants on the date of the offering to be as disclosed in the tables below. The Company has recognized a change in the fair value as described in the table below:
			Three months ended
			30-Sep-13
	Change in fair value of warrant derivative liability:		$	(36,000	)
	Purchaser and underwriter warrants issued in October 2011:
			Three months ended
			September 30, 2013
			Qty1			Amount
	Balance, beginning of period			650,003		$	94,000
	Change in fair value			650,003			33,000
	Warrants exercised			-			-
	Balance, end of period			650,003		$	127,000
	Purchaser warrants issued in December 2011:
			Three months ended
			30-Sep-13
			Qty1			Amount
	Balance, beginning of period			63,598		$	10,000
	Change in fair value			63,598			3,000
	Warrants exercised			-			-
	Balance, end of period			63,598		$	13,000
	Total fair value of warrant derivative liability at September 30, 2013:					$	140,000
	1 Quantity of warrants either issued or outstanding as of the date of valuation.
	Warrants
	The following table summarizes the warrants outstanding as of the beginning of the fiscal year, warrants exercised and warrants issued during the year and weighted average prices for each category.
						Weighted average
			Warrants			exercise price
	Outstanding as of June 30, 2013			1,957,033		$	1.38
	Warrants issued			5,648,738			0.72
	Outstanding as of September 30, 2013			7,605,771		$	0.89

Related_Party_Transaction

Related Party Transaction	3 Months Ended
	Sep. 30, 2013
Related Party Transaction [Abstract]	'
Related Party Transaction	'
		10	Related Party Transaction
	During the three months ended September 30, 2013 and 2012, the Company continued to engage the services of APEX Data Systems, Inc., owned by Dwight Babcock, the Company's Chairman and Chief Executive Officer, to modify and maintain the Company's web interfaced data collection application to aggregate patient data in a controlled environment. The cost recorded during the three months ended September 30, 2013 and 2012 from APEX Data Systems, Inc. for the maintenance of the web interfaced data collection applications in combination with the updating of the Company website was $4,120 and $4,960 respectively. An additional $3,000 was spent on the implementation of Customer Relationship Management (CRM) software in the three months ended September 30, 2013.

Loss_per_Share_Tables

Loss per Share (Tables)	3 Months Ended
	Sep. 30, 2013
Loss per Share [Abstract]	'
Schedule of Antidilutive Securities Excluded from Computation of Loss per Share	'
	Securities not considered in the calculation of diluted weighted average shares, but that could be dilutive in the future as of September 30, 2013 and 2012, were as follows:
		September 30,
		2013		2012
	Series B preferred stock		59,065		59,065
	Series D preferred stock		3,121,481		-
	Common stock warrants		7,605,771		1,957,133
	Common stock options		2,370,072		2,325,772
	Total potential dilutive securities		13,156,389		4,341,970

Inventory_Tables

Inventory (Tables)	3 Months Ended
	Sep. 30, 2013
Inventory [Abstract]	'
Schedule of Components of Inventory	'
	Inventory consisted of the following at September 30, 2013 and June 30, 2013:
		September 30,		June 30,
		2013		2013
	Raw materials	$	161,011	$	167,671
	Work in process		214,386		195,323
	Finished goods		60,847		42,577
		$	436,244	$	405,571

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2013
Share-Based Compensation [Abstract]	'
Schedule of Share-Based Compensation Expense	'
	The following table presents the share-based compensation expense recognized during the three months ended September 30, 2013 and 2012:
		Three months
		ended September 30,
		2013		2012
	Cost of product sales	$	4,422	$	10,164
	Research and development expenses		3,482		8,718
	Sales and marketing expenses		879		1,659
	General and administrative expenses		29,570		8,422
	Total share-based compensation	$	38,353	$	28,963
Schedule of Stock Option within Share-based Compensation Plans	'
	A summary of stock options within the Company's share-based compensation plans as of September 30, 2013 were as follows:
						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
		Number of		Exercise		Contractual		Intrinsic
		Options		Price		Term		Value
						(Years)
	Outstanding at September 30, 2013		2,370,072	$	1.79		4.82	$	222,581
	Vested and expected to vest at September 30, 2013		2,278,260	$	1.84		4.75	$	203,244
	Vested and exercisable at September 30, 2013		2,080,064	$	1.9		4.38	$	219,581

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2013
Fair Value Measurements [Abstract]	'
Schedule of Financial Assets and Liabilities Accounted for at Fair Value on Recurring Basis and Fair Value Calculation Input Hierarchy Level	'
	The table below sets forth the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013 and June 30, 2013, respectively, and the fair value calculation input hierarchy level the Company has determined applies to each asset and liability category.
		Balance at		Balance at		Input
	Description	September 30, 2013		June 30, 2013		Hierarchy Level
	Assets:
	Cash and cash equivalents	$	5,284,163	$	2,899,927	Level 1
	Restricted cash		181,167		181,149	Level 1
	Liabilities:
	Warrant derivative liability	$	140,000	$	104,000	Level 2

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2013
Shareholders' Equity [Abstract]	'
Schedule of Proceeds from Common Stock Offering	'
	The offering yielded approximately $3,280,888 in cash after expenses.
	Gross proceeds from public offering	$	3,703,527
	Underwriter discount		(185,176	)
	Legal and accounting expense		(182,917	)
	Listing expense		(48,500	)
	Other expense		(6,046	)
	Net proceeds	$	3,280,888
Schedule of Fair Value of Warrants	'
	The Company has recognized a change in the fair value as described in the table below:
		Three months ended
		30-Sep-13
	Change in fair value of warrant derivative liability:	$	(36,000	)
	Purchaser and underwriter warrants issued in October 2011:
		Three months ended
		September 30, 2013
		Qty1			Amount
	Balance, beginning of period		650,003		$	94,000
	Change in fair value		650,003			33,000
	Warrants exercised		-			-
	Balance, end of period		650,003		$	127,000
	Purchaser warrants issued in December 2011:
		Three months ended
		30-Sep-13
		Qty1			Amount
	Balance, beginning of period		63,598		$	10,000
	Change in fair value		63,598			3,000
	Warrants exercised		-			-
	Balance, end of period		63,598		$	13,000
	Total fair value of warrant derivative liability at September 30, 2013:				$	140,000
	1 Quantity of warrants either issued or outstanding as of the date of valuation.
Schedule of Warrants Activity	'
	The following table summarizes the warrants outstanding as of the beginning of the fiscal year, warrants exercised and warrants issued during the year and weighted average prices for each category.
					Weighted average
		Warrants			exercise price
	Outstanding as of June 30, 2013		1,957,033		$	1.38
	Warrants issued		5,648,738			0.72
	Outstanding as of September 30, 2013		7,605,771		$	0.89

Basis_of_Presentation_Details

Basis of Presentation (Details)	3 Months Ended
	Sep. 30, 2013
Basis of Presentation [Abstract]	'
Anticipated effective income tax rate fiscal year 2014	0.00%

Loss_per_Share_Details

Loss per Share (Details)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share, amount	13,156,389	4,341,970
Series B Preferred Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share, amount	59,065	59,065
Series D Preferred Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share, amount	3,121,481	'
Warrant [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share, amount	7,605,771	1,957,133
Employee Stock Option [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share, amount	2,370,072	2,325,772

Inventory_Details

Inventory (Details) (USD $)	Sep. 30, 2013	Jun. 30, 2013
Inventory [Abstract]	'	'
Raw materials	$161,011	$167,671
Work in process	214,386	195,323
Finished goods	60,847	42,577
Net Inventory	$436,244	$405,571

ShareBased_Compensation_Schedu

Share-Based Compensation (Schedule of Share-Based Compensation Expense) (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	$38,353	$28,963
Unrecognized compensation expense related to stock-based options and awards	56,060	'
Unrecognized compensation expense related to stock-based options and awards, weighted-average recognition period	'10 months 6 days	'
Cost of Product Sales [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	4,422	10,164
Research and Development Expenses [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	3,482	8,718
Sales and Marketing Expenses [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	879	1,659
General and Administration Expenses [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	$29,570	$8,422

ShareBased_Compensation_Schedu1

Share-Based Compensation (Schedule of Stock Option Activity) (Details) (USD $)	0 Months Ended		3 Months Ended
	Sep. 05, 2013	Sep. 06, 2013	Sep. 30, 2013	Sep. 30, 2012
Number of Options	'	'	'	'
Outstanding at September 30, 2013	'	'	2,370,072	'
Vested and expected to vest at September 30, 2013	'	'	2,278,260	'
Vested and exercisable at September 30, 2013	'	'	2,080,064	'
Weighted Average Exercise Price	'	'	'	'
Outstanding at September 30, 2013	'	'	$1.79	'
Vested and expected to vest at September 30, 2013	'	'	$1.84	'
Vested and exercisable at September 30, 2013	'	'	$1.90	'
Weighted Average Remaining Contractual Term	'	'	'	'
Outstanding at March 31, 2013	'	'	'4 years 9 months 26 days	'
Vested and expected to vest at September 30, 2013	'	'	'4 years 9 months	'
Vested and exercisable at September 30, 2013	'	'	'4 years 4 months 17 days	'
Average Intrinsic Value	'	'	'	'
Outstanding at September 30, 2013	'	'	$222,581	'
Vested and expected to vest at September 30, 2013	'	'	203,244	'
Vested and exercisable at September 30, 2013	'	'	219,581	'
Options exercised	'	'	'	18,000
Aggregate intrinsic value of option exercised	'	'	'	11,400
Stock options granted	50,000	15,000	65,000	'
Stock options issued, exercise price	$0.58	$0.59	'	'
Fair value of stock options granted	$25,150	$6,906	'	'
Exercise price	$0.58	$0.59	'	'
Expected term	'5 years	'5 years	'	'
Volatility	132.31%	132.31%	'	'
Discount rate	1.85%	1.77%	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Patent Rights Know-how and License Agreements [Member])	Sep. 30, 2013
Patent Rights Know-how and License Agreements [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Percentage of royalty payment on net sales	1.00%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair Value, Measurements, Recurring [Member], USD $)	Sep. 30, 2013	Jun. 30, 2013
Level 1 [Member]	'	'
Assets:	'	'
Cash and cash equivalents	$5,284,163	$2,899,927
Accounts receivable, net	181,167	181,149
Level 2 [Member]	'	'
Liabilities:	'	'
Warrant derivative liability	$140,000	$104,000

Preferred_Dividends_Details

Preferred Dividends (Details) (Series B Preferred Stock [Member], USD $)	3 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011
Series B Preferred Stock [Member]	'	'	'
Dividends Payable [Line Items]	'	'	'
Accrued but undeclared dividends	$7,974	$10,632	$10,632

Shareholders_Equity_Common_Sto

Shareholders' Equity (Common Stock Transactions) (Details) (USD $)	0 Months Ended	3 Months Ended			0 Months Ended
	Aug. 29, 2013	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Aug. 29, 2013	Aug. 29, 2013	Aug. 29, 2013	Oct. 13, 2011	Aug. 29, 2013
					Common Unit Warrants [Member]	Preferred Unit Warrants [Member]	Common Stock [Member]	Common Stock [Member]	Series D Preferred Stock [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'
Sale of common stock	'	'	'	'	'	'	3,800,985	2,500,000	1,670
Number of shares covered by each warrant	'	'	'	'	0.816	'	'	'	'
Number of shares number of shares covered by warrant	'	'	'	'	'	1,525.23	'	'	'
Stock issued, price per share	'	'	'	'	'	'	$0.54	'	$1,000
Warrants issued, exercise price	'	0.89	'	1.38	0.72	0.72	'	'	'
Warrant term	'	'	'	'	'24 months	'24 months	'	'	'
Number of common shares issuable upon conversion	'	'	'	'	'	'	'	'	1,869.15
Ownership percentage	'	'	'	'	'	'	'	'	9.99%
Beneficial conversion feature	'	$726,378	'	'	'	'	'	'	'
Gross proceeds from public offering	3,703,527	'	'	'	'	'	'	'	'
Underwriter discount	-185,176	'	'	'	'	'	'	'	'
Legal and accounting expense	-182,917	'	'	'	'	'	'	'	'
Listing expense	-48,500	'	'	'	'	'	'	'	'
Other expense	-6,046	'	'	'	'	'	'	'	'
Net proceeds	$3,280,888	'	'	'	'	'	'	'	'

Shareholders_Equity_Schedule_o

Shareholders' Equity (Schedule of Inputs for Fair Value Model) (Details) (USD $)	3 Months Ended
	Sep. 30, 2013		Sep. 30, 2012
Class of Warrant or Right [Line Items]	'		'
Balance, beginning of period	1,957,033		'
Balance, end of period	7,605,771		'
Value of warrants issued:	'		'
Change in fair value of warrant derivative liability	$36,000		($129,000)
Balance, end of period	140,000		'
Common Stock Purchaser Warrants [Member]	'		'
Class of Warrant or Right [Line Items]	'		'
Balance, beginning of period	650,003	[1]	'
Warrants exercised	'	[1]	'
Balance, end of period	650,003	[1]	'
Value of warrants issued:	'		'
Balance, beginning of period	94,000		'
Change in fair value of warrant derivative liability	33,000		'
Balance, end of period	127,000		'
Over Allotment Warrants [Member]	'		'
Class of Warrant or Right [Line Items]	'		'
Balance, beginning of period	63,598	[1]	'
Warrants exercised	'	[1]	'
Balance, end of period	63,598	[1]	'
Value of warrants issued:	'		'
Balance, beginning of period	10,000		'
Change in fair value of warrant derivative liability	3,000		'
Balance, end of period	$13,000		'
[1]	Quantity of warrants either issued or outstanding as of the date of valuation.

Shareholders_Equity_Warrants_D

Shareholders' Equity (Warrants) (Details)	3 Months Ended
	Sep. 30, 2013
Warrants	'
Balance, beginning of period	1,957,033
Warrants issued	5,648,738
Balance, end of period	7,605,771
Weighted average exercise price	'
Beginning balance outstanding	1.38
Warrants issued	0.72
Ending balance outstanding	0.89

Related_Party_Transaction_Deta

Related Party Transaction (Details) (Affiliated Entity [Member], USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Affiliated Entity [Member]	'	'
Related Party Transaction [Line Items]	'	'
Maintenance costs	$4,120	$4,960
Software implementation costs	$3,000	'