Veritec (VRTC) 10-K 20 Oct 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Document And Entity Information	'	'
Entity Registrant Name	'VERITEC INC	'
Entity Central Index Key	'0000773318	'
Document Type	'10-K	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--06-30	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Public Float	'	$1,273,607
Entity Common Stock, Shares Outstanding	15,920,088	'
Document Fiscal Period Focus	'FY	'
Document Fiscal Year Focus	'2013	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Jun. 30, 2013
Current Assets:	'	'
Cash	$24,665	$75,918
Accounts receivables, net of allowance of $13,395 and $13,151 respectively	70,500	288,323
Inventories	7,829	4,815
Prepaid expenses	17,143	32,887
Total Current Assets	120,137	401,943
Restricted cash	51,957	499,277
Property and Equipment, net	994	'
Total Assets	173,088	901,220
Current Liabilities:	'	'
Notes payable - in default	3,142,219	787,153
Notes payable, related party - in default	2,649,202	2,525,948
Accounts payable	540,794	497,518
Accounts payable, related party	78,753	82,129
Customer deposits	91,260	71,287
Deferred revenues	258,764	1,026,675
Payroll tax liabilities	539,218	680,461
Accrued expenses	104,168	143,309
Total Current Liabilities	4,755,176	5,814,480
Commitments and Contingencies	'	'
Convertible preferred stock, par value $1.00; authorized 10,000,000 shares, 276,000 shares of Series H authorized, 1,000 shares issued and outstanding as of June 30, 2014 and 2013	1,000	1,000
Common stock, par value $.01; authorized 50,000,000 shares, 15,920,088 shares issued and outstanding as of June 30, 2014 and 2013	159,201	159,201
Common stock to be issued, 375,000 shares and 125,000 shares, respectively	39,596	10,477
Additional paid-in capital	14,594,181	14,594,181
Accumulated deficit	4,635,039	-19,678,119
Total Stockholders' Deficiency	4,582,088	-4,913,260
Total Liabilities and Stockholders' Deficiency	$173,088	$901,220

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Allowance for Doubtful Accounts	13,395	13,151
Convertible preferred stock, par value	1	1
Convertible preferred stock, shares authorized	10,000,000	10,000,000
Convertible preferred stock, shares issued	1,000	1,000
Convertible preferred stock, shares outstanding	1,000	1,000
Common stock, par value	0.01	0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	15,920,088	15,920,088
Common stock, shares outstanding	15,920,088	15,920,088
Common stock, shares to be issued	375,000	125,000
Series H Convertible	'	'
Convertible preferred stock, shares authorized	276,000	276,000
Convertible preferred stock, shares issued	1,000	'
Convertible preferred stock, shares outstanding	1,000	'

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'
License and other revenue	$1,635,363	$720,172
Cost of Sales	345,107	258,217
Gross Profit	1,290,256	461,955
Operating Expenses:	'	'
General and administrative	578,947	791,315
Sales and marketing	31,590	86,067
Research and development	188,810	128,672
Total Operating Expenses	799,347	1,006,054
Income (Loss) from Operations	490,909	-544,099
Other Expense:	'	'
Interest income	58	2,008
Interest expense, including $152,501 and $171,963, respectively, to related parties	-188,914	-279,481
Total Other Expense	-188,856	-277,473
Net Income (Loss)	$302,053	($821,573)
Net Income (Loss) Per Common Share	'	'
Basic	$0.02	($0.05)
Diluted	$0.02	($0.05)
Weighted Average Number of Shares Outstanding	'	'
Basic	15,920,088	15,920,088
Diluted	18,976,588	15,920,088

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'
Interest expense, related parties	$152,501	$171,963

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Beginning balance, Amount	($4,913,260)	($4,280,336)
Shares issued for services	3,869	7,477
Stock based compensation	25,250	181,171
Net loss	302,053	-821,572
Ending balance, Amount	4,582,088	-4,913,260
Preferred Stock	'	'
Beginning balance, Shares	1,000	1,000
Beginning balance, Amount	1,000	1,000
Shares issued for services	'	'
Stock based compensation	'	'
Net loss	'	'
Ending balance, Shares	1,000	1,000
Ending balance, Amount	1,000	1,000
Common Stock	'	'
Beginning balance, Shares	15,920,088	15,920,088
Beginning balance, Amount	159,201	159,201
Shares issued for services	'	'
Stock based compensation	'	'
Net loss	'	'
Ending balance, Shares	15,920,088	15,920,088
Ending balance, Amount	159,201	159,201
Common Stock to be Issued	'	'
Beginning balance, Amount	10,477	'
Shares issued for services	3,869	7,477
Stock based compensation	25,250	3,000
Net loss	'	'
Ending balance, Amount	39,596	10,477
Additional Paid-In Capital	'	'
Beginning balance, Amount	14,594,181	14,416,010
Shares issued for services	'	'
Stock based compensation	'	178,171
Net loss	'	'
Ending balance, Amount	14,594,181	14,594,181
Accumulated Deficit	'	'
Beginning balance, Amount	-19,678,119	-18,856,547
Shares issued for services	'	'
Stock based compensation	'	'
Net loss	302,053	-821,572
Ending balance, Amount	($19,376,066)	($19,678,119)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Statement of Cash Flows [Abstract]	'	'
Net income (loss)	$302,053	($821,573)
Adjustments to reconcile net loss to net cash used by operating activities:	'	'
Depreciation	239	644
Allowance on accounts recievable	244	547
Shares issued for services	3,869	7,477
Fair value of stock options issued to employees	25,250	181,171
Amortization of discount on notes payable	'	69,742
Interest accrued on notes payable	170,897	20,973
Changes in operating assets and liabilities:	'	'
Accounts receivable	217,579	-277,737
Restricted cash	447,320	723
Inventories	-3,014	-1,212
Prepaid expenses	15,744	-27,900
Customer deposits	19,973	-62,102
Accounts payables and accrued expenses	759	-29,592
Net cash provided by operating activities	291,760	99,765
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchase of property and equipment	-1,234	'
Net cash used by investing activities	-1,234	'
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Payment of notes payable	-300,279	-163,962
Proceeds from notes payable, related party	68,500	180,000
Payment on notes payable, related party	-110,000	-102,000
Net cash used in financing activities	-341,779	-85,962
NET (DECREASE) INCREASE IN CASH	-51,253	13,803
CASH AT BEGINNING OF YEAR	75,918	62,115
CASH AT END OF YEAR	24,665	75,918
NONCASH INVESTING AND FINANCING ACTIVITIES	'	'
Cash paid for interest	$14,423	'

OPERATIONS_AND_SUMMARY_OF_SIGN

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 1 - OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The Company
	The Company refers to Veritec, Inc. (Veritec) and its wholly owned subsidiaries, Vcode Holdings, Inc. (Vcode®), and Veritec Financial Systems, Inc. (VTFS).
	Nature of Business
	The Company is primarily engaged in the development, marketing, sales and licensing of products and rendering of professional services related thereto in the following two fields of technology: (1)  proprietary two-dimensional matrix symbology (also commonly referred to as “two-dimensional barcodes” or “2D barcodes”), and (2) mobile banking solutions.
	The Company’s two-dimensional matrix symbology technology will hereafter be referred to as the Company’s “Barcode Technology”, and the Company’s mobile banking technology will hereafter be referred to as its “Mobile Banking Technology”.
	The Company’s Barcode Technology was originally invented by the founders of Veritec under United States patents 4,924,078, 5,331,176, 5,612,524 and 7,159,780.  Our principal licensed product to date that contains our VeriCode ® Barcode Technology has been a product identification system for identification and tracking of manufactured parts, components and products mostly in the liquid crystal display (LCD) markets. The VeriCode® symbol is a two-dimensional high data density machine-readable symbol that can contain up to approximately 500 bytes of data.
	The Company’s VSCode® Barcode Technology is a derivative of the VeriCode® symbol with the ability to encrypt a greater amount of data by increasing data density.  The VSCode ® is a data storage “container” that offers a high degree of security and which can also be tailored to the application requirements of the user. The VSCode ® symbol can hold any form of binary information that can be digitized, including numbers, letters, images, photos, graphics, and the minutia for biometric information, including fingerprints and facial image data, to the extent of its data storage capacity, that are likewise limited by the resolution of the marking and reading devices employed by the user.  VSCode ® is ideal for secure identification documents (such as national identification cards, driver’s licenses, and voter registration cards), financial cards, medical records and other high security applications.
	In its PhoneCodes™ product platform, Veritec developed software to send, store, display, and read a VeriCode® Barcode Technology symbol on the LCD screen of a mobile phone. With the electronic media that provide the ease of transferring information over the web, Veritec’s PhoneCodes™ technology enables individuals and companies to receive or distribute gift certificates, tickets, coupons, receipts, or engage in banking transactions using the VeriCode ® technology via wireless phone or PDA.
	On January 12, 2009, Veritec formed VTFS, a Delaware corporation, to bring its Mobile Banking Technology, products and related professional services to market.  In May 2009 Veritec was registered by Security First Bank in Visa’s Third Party Registration Program as a Cardholder Independent Sales Organization and Third-Party Servicer.  As a Cardholder Independent Sales Organization, Veritec was able to promote and sell Visa branded card programs.  As a Third-Party Servicer, Veritec provided back-end cardholder transaction processing services for Visa branded card programs on behalf of Security First Bank. As of October 2010 the Company’s registration with Security First Bank terminated. As of April 2011 the Company signed an ISO and processor agreement with Palm Desert National Bank (which was later assigned to First California Bank) to market and processes the Company’s Visa branded card program on behalf of the bank. First California Bank was sold to Pacific Western Bank and June 2013 Pacific Western Bank closed its entire debit card division and transferred its contract with VTFS to Central Bank of Kansas City Bank. On February 5th, 2014 the entire relationship between Veritec and Pacific Western Bank ended and the new relationship with Central Bank of Kansas City began.
	Our VeriSuite™ card enrollment system was released in July 2009.  The VeriSuite™ system is a user friendly and cost effective solution that gives governments and businesses the ability to provide cardholders with an identity card containing Veritec’s VSCode® Barcode Technology.  The VeriSuite™ system provides secure Bio-ID Cards such as citizen identification, employee cards, health benefit cards, border control cards, financial cards, and more.
	The Company has a portfolio of five United States and eight foreign patents. In addition, we have seven U.S. and twenty-eight foreign pending patent applications.
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances were eliminated in consolidation.
	Use of Estimates
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include estimates for reserves of uncollectible accounts, analysis of impairments of long lived assets, accruals for potential liabilities and assumptions made in valuing stock instruments issued for services.
	Accounts Receivable
	The Company sells to domestic and foreign companies and grants uncollateralized credit to customers, but requires deposits on unique orders. Management periodically reviews its accounts receivable and provides an allowance for doubtful accounts after analyzing the age of the receivable, payment history and prior experience with the customer. The estimated loss that management believes is probable is included in the allowance for doubtful accounts.
	While the ultimate loss may differ, management believes that any additional loss will not have a material impact on the Company's financial position. Due to uncertainties in the settlement process, however, it is at least reasonably possible that management's estimate will change during the near term.
	Inventories
	Inventories, consisting of purchased components for resale, are stated at the lower of cost or market, applying the first-in, first-out (FIFO) method. Inventory is net of reserves of $23,900 at both June 30, 2014 and 2013.
	Property and Equipment
	Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over estimated useful lives of 3 to 7 years. When assets are retired or otherwise disposed, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is recognized. Maintenance and repairs are expensed as incurred; significant renewals and betterments are capitalized.
	Management regularly reviews property, equipment and other long-lived assets for possible impairment. This review occurs quarterly, or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows (undiscounted and without interest charges) expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. Based upon management’s assessment, there were no indicators of impairment at June 30, 2014 or 2013.
	Concentrations
	The Company’s cash balances on deposit with banks are guaranteed by the Federal Deposit Insurance Corporation up to $250,000. The Company may be exposed to risk for the amounts of funds held in one bank in excess of the insurance limit. In assessing the risk, the Company’s policy is to maintain cash balances with high quality financial institutions. The Company had cash balance in excess of the guarantee during the year ended June 30, 2013.
	Major Customers:
	Customers in excess of 10% of total revenues were as follows:
		Years Ended June 30,
			2014		2013
	Customer A		31%		18%
	Customer B		16%		11%
	Customer C		8%		31%
	Customer D		6%		12%
			61%		72%
	As of June 30, 2014, the Company had approximately $86,361 (69%) and $23,250 (19%) of accounts receivable due from its major customers. As of June 30, 2013, the Company had approximately 250,000 (83%) and $26,563 (9%), respectively, of accounts receivable due from its major customers.
	Foreign Revenues:
	Foreign revenues accounted for 70% of the Company’s total revenues in fiscal 2014 and 96% in fiscal 2013. (54% Korea, 10% Taiwan, and 8% others in fiscal 2014 and 21% Taiwan, 70% Korea, and 5% others in fiscal 2013.)
	Fair Value of Financial Instruments
	Fair Value Measurements are adopted by the Company based on the authoritative guidance provided by the Financial Accounting Standards Board, with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption based on the authoritative guidance provided by the Financial Accounting Standards Board did not have a material impact on the Company's fair value measurements. Based on the authoritative guidance provided by the Financial Accounting Standards Board defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. FASB authoritative guidance establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows:
	Level 1 - Quoted prices in active markets for identical assets or liabilities.
	Level 2 - Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.
	Level 3 - Unobservable inputs based on the Company's assumptions.
	The Company had no such assets or liabilities recorded to be valued on the basis above at June 30, 2014 or 2013.
	For certain financial instruments, the carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts receivable, and current liabilities, including notes payable and convertible notes, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.
	Revenue Recognition
	The Company accounts for revenue recognition in accordance with guidance of the Financial Accounting Standards Board. Revenues for the Company are classified into four separate products: license revenue (Veritec’s Multi-Dimensional matrix symbology), hardware revenue, identification card revenue, and debit card revenue.
	Revenues from licenses, hardware, and identification cards are recognized when the product is shipped, the Company no longer has any service or other continuing obligations, and collection is reasonably assured. The process typically begins for license and hardware revenue with a customer purchase order detailing its hardware specifications so the Company can import its software into the customer's hardware. Once importation is completed, if the customer only wishes to purchase a license, the Company typically transmits the software to the customer via the Internet. Revenue is recognized at that point. If the customer requests both license and hardware products, once the software is imported into the hardware and the process is complete, the product is shipped and revenue is recognized at time of shipment. Once the software and/or hardware are either shipped or transmitted, the customers do not have a right of refusal or return. Under some conditions, the customers remit payment prior to the Company having completed importation of the software. In these instances, the Company delays revenue recognition and reflects the prepayments as customer deposits.
	The process for identification cards begins when a customer requests, via the Internet, an identification card. The card is reviewed for design and placement of the data, printed and packaged for shipment. At the time the identification cards are shipped and collection is reasonably assured, revenue is recognized.
	The Company, as a processor and a distributor, recognizes revenue from transaction fees charged cardholders for the use of its issued mobile debit cards. The fees are recognized on a monthly basis after all cardholder transactions have been summarized and reconciled with third party processors.
	Shipping and Handling Fees and Costs
	For the years ended June 30, 2014 and 2013, shipping and handling fees billed to customers of $2,125 and $1,816, respectively were included in revenues and shipping and handling costs of $2,032 and $1,675, respectively were included in cost of sales.
	Research and Development
	Research and development costs were expensed as incurred.
	Loss per Common Share
	Basic earnings (loss) per share are computed by dividing the net income (loss) applicable to Common Stockholders by the weighted average number of shares of Common Stock outstanding during the year. Diluted earnings (loss) per share is computed by dividing the net income (loss) applicable to Common Stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Potential common shares are excluded from the computation as their effect is antidilutive.
	For year ended June 30, 2014 the calculation of diluted earnings per share included stock options and warrants, calculated under the treasury stock method, and excluded preferred stock since the effect was antidilutive. For the year ended June 30, 2013 the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an anti-dilutive effect.
	The calculation of weighted average shares outstanding – diluted is as follows:
		30-Jun
		2014		2013
	Net income (loss) attributable to common stockholders	$	302,053	$	(821,572	)
	Denominator:
	Weighted average shares outstanding - basic		15,920,088		15,920,088
Effect of dilutive instruments:
Options		3,056,500		—
Weighted average shares outstanding-diluted		18,976,588		15,920,088
As of June 30, 2014 and 2013, we excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock, from our calculation of earnings per share, as their effect would have been anti-dilutive
	June 30,
	2014		2013
Warrants		—		275,000
Series H Preferred Stock		10,000		10,000
Convertible Notes Payable		6,347,046		8,146,039
Options		—		3,165,583
Total		6,357,046		11,596,622
Stock-Based Compensation
The Company periodically issues stock options and warrants to employees and non-employees in capital raising transactions, for services and for financing costs.  Stock-based compensation for employees are measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite service period. Options vest and expire according to terms established at the grant date. The value of the stock compensation to non-employees is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete.
Income Taxes
Current income tax expense is the amount of income taxes expected to be payable for the current year. A deferred income tax asset or liability is established for the expected future consequences of temporary differences in the financial reporting and tax bases of assets and liabilities. The Company considers future taxable income and ongoing, prudent and feasible tax planning strategies, in assessing the value of its deferred tax assets. If the Company determines that it is more likely than not that these assets will not be realized, the Company will reduce the value of these assets to their expected realizable value, thereby decreasing net income. Evaluating the value of these assets is necessarily based on the Company’s judgment. If the Company subsequently determined that the deferred tax assets, which had been written down, would be realized in the future, the value of the deferred tax assets would be increased, thereby increasing net income in the period when that determination was made.
Recently Issued Accounting Standards
On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers. ASU 2014-09 will eliminate transaction- and industry-specific revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for reporting periods beginning after December 15, 2016, and early adoption is not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Management is currently assessing the impact the adoption of ASU 2014-09 and has not determined the effect of the standard on our ongoing financial reporting.
In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-08 (ASU 2014-08), Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360). ASU 2014-08 amends the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations or that have a major effect on the Company's operations and financial results should be presented as discontinued operations. This new accounting guidance is effective for annual periods beginning after December 15, 2014. The Company is currently evaluating the impact of adopting ASU 2014-08 on the Company's results of operations or financial condition.
In August 2014, the FASB issued Accounting Standards Update No. 2014-15 (ASU 2014-15), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements.  The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued.  An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.  The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted.
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the Securities Exchange Commission (the "SEC") did not or are not believed by management to have a material impact on the Company's present or future financial statements.

GOING_GONCERN

GOING GONCERN	12 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
GOING CONCERN	'
	NOTE 2 - GOING CONCERN
	The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. At June 30, 2014, the Company had a working capital deficit of $4,635,039 and a stockholders’ deficiency of $4,582,088. The Company is in default of $3,142,219 of its note payable obligations and is also delinquent in payment of certain amounts due of $539,218 for payroll taxes and accrued interest and penalties as of June 30, 2014. These and other factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.
	The Company believes it will require additional funds to continue its operations through fiscal 2015 and to continue to develop its existing projects and plans to raise such funds by finding additional investors to purchase the Company’s securities, generating sufficient sales revenue, implementing dramatic cost reductions or any combination thereof. There is no assurance that the Company can be successful in raising such funds, generating the necessary sales or reducing major costs. Further, if the Company is successful in raising such funds from sales of equity securities, the terms of these sales may cause significant dilution to existing holders of common stock. The consolidated financial statements do not include any adjustments that may result from this uncertainty.
	The Company has relied on The Matthews Group, LLC (TMG), a related party owned 50% by Van Tran, the Company’s CEO/Executive Chair and a director, and 50% by Larry Johanns, a significant stockholder of the Company, for funding. Through June 2014, TMG, executives, and some individuals have funded $3,033,835 mostly in the form of convertible notes payable. During fiscal year 2014, TMG and some individuals funded $68,500, mostly in the form of convertible notes payable.

RESTRICTED_CASH

RESTRICTED CASH	12 Months Ended
	Jun. 30, 2014
Cash and Cash Equivalents [Abstract]	'
RESTRICTED CASH	'
	NOTE 3 – RESTRICTED CASH
	The Company entered into Store Value Prepaid Card Sponsorship Agreements (the “Agreement”) with certain banks whereas the Company markets and sells store value prepaid card programs (the “Programs”). The Programs are marketed and managed daily at the direction of the Bank, for which the company receives a transaction fee. In connection with the agreements the Company is required to establish a Reserve Account controlled by the bank. At June 30, 2014 and 2013, the restricted cash totaled $51,957 and $499,277, respectively. Since this amount is restricted for the purposes related to the Programs, it is classified as restricted cash on the consolidated balance sheet.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
PROPERTY AND EQUIPMENT	'
	NOTE 4 - PROPERTY AND EQUIPMENT
	Property and equipment consists of the following as of:
		June 30,
		2014		2013
	Furniture and equipment	$	140,316	$	139,083
	Software		73,000		73,000
	Vehicles		23,301		23,301
			236,617		235,384
	Less accumulated depreciation		235,623		235,384
		$	994	$	—
	Depreciation expense for the years ended June 30, 2014 and 2013 was $239 and $644, respectively.

RELATED_PARTY_TRANSACTION

RELATED PARTY TRANSACTION	12 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTION	'
	NOTES 5 – RELATED PARTY TRANSACTIONS
	During the years ended June 30, 2014 and 2013 the Company received various unsecured, non-interest bearing, due on demand advances from its CEO Ms. Van Tran, a related party. The balances due Ms. Tran as of June 30, 2014 and 2013 were $78,753 and $82,129, respectively. These advances have been classified as accounts payable, related party on the accompanying consolidated balance sheets.
	The Company has relied on The Matthews Group, LLC (TMG), and a related party owned 50% by Van Tran, the Company’s CEO/Executive Chair and a director, and 50% by Larry Johanns, a significant stockholder of the Company, for funding (see Note 6). The Company also leases its office facilities from Ms. Van Tran (see Note 10).

NOTES_PAYABLE

NOTES PAYABLE	12 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
NOTES PAYABLE	'
	NOTE 6 – NOTES PAYABLE
	Notes payable consists of the following as of:
		June 30,
		2014		2013
	Convertible notes payable (includes $130,898 and $132,920, respectively, to non-related parties), unsecured, interest at 8%, due September 2010 through November 2010. The principal and accrued interest is convertible at a conversion price of $0.30. The principal and interest is due immediately on the event of default or change of control. The notes are currently in default.	$	783,261	$	739,815
	Convertible notes payable to related parties, unsecured, principal and interest are convertible into common stock at $0.30 to $0.33 per share, interest at 8 % to 10%, due on demand to November 2010. The notes are currently in default.		1,010,148		1,023,173
	Convertible note payable to related party, secured by the Company’s intellectual property, principal and interest are convertible into common stock at $0.25 per share subject to board of directors’ approval, interest at 8%. The note was due November 2010 and is now in default.		281,364		258,871
	Note payable to related party, secured by the Company’s intellectual property, interest at 8% due August 2010 and is now in default.		546,621		502,578
	Notes payable to related parties, unsecured, interest at 0% to 8%, due on demand.		146,468		134,430
	Note payable, unsecured, interest at 10%. The note was due in January 2010 and is now in default.		29,156
					27,167
	Notes payable, secured by the Company's certificate of deposit with a financial institution and classified on the balance sheet as restricted cash, interest at 5%, convertible into common stock at $0.08 per share, due on demand
			32,215
					30,753
	Convertible note payable, unsecured, principal and interest are convertible into common stock at $0.30 to $0.40 per share subject to board of directors’ approval, interest at 5% to 8%, due January 2011 to March 2013 and is now in default.		25,614		23,411
	Notes payable, unsecured, interest at 5%, due January 2013. (1)		—		301,228
	Note payable, secured by the Company's intellectual property, interest at variable rates starting September 1, 2012, due December 2012 and is now in default.		285,606		270,150
	Convertible note payable, unsecured, principal and interest are convertible into common stock at $1.00 per share subject to board of directors’ approval, interest at 8%. The note was due November 2009 and is now in default.		1,766		1,525
	Total	$	3,142,219	$	3,313,101
	(1) In connection with the issuance of the notes payable, two stockholders of the Company granted the lender the option to acquire 1,600,000 unrestricted shares of the Company’s common stock from the stockholder’s at a price of $0.40 per share. The agreement to provide the lender with the option to purchase shares of the two shareholders was presumed to be a separate arrangement between the Company and the lender. As such, the Company valued the shares as if they had provided the lender an option to acquire these shares. The aggregate value of the 1,600,000 shares was valued at $129,931 using Black-Scholes option valuation model with the following assumptions: expected life, 1 year, risk free interest rate, 0.10%, volatility, 250%, and dividend rate, 0%. The value of the option is being considered as a valuation discount and was amortized over the one year life of the Note. For the year ended June 30, 2013, the Company recognized the remaining $60,189 of expense related to the amortization of this discount and is included in the interest expense in the consolidated statement of operations.
	For the purposes of Balance Sheet presentation notes payable have been presented as follows:
		2014		2013
	Notes payable	$	493,017	$	787,153
	Notes payable, related party		2,649,202		2,525,948
		$	3,142,219	$	3,313,101

STOCKHOLDERS_EQUITY_DEFICIT

STOCKHOLDERS' EQUITY (DEFICIT)	12 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
STOCKHOLDERS' EQUITY (DEFICIT)	'
	NOTE 7 - STOCKHOLDERS’ EQUITY (DEFICIT)
	Preferred Stock
	The articles of incorporation of Veritec authorize 10,000,000 shares of preferred stock with a par value of $1.00 per share. The Board of Directors is authorized to determine any number of series into which shares of preferred stock may be divided and to determine the rights, preferences, privileges and restrictions granted to any series of the preferred stock.
	In 1999, a new Series H convertible preferred stock was authorized. Each share of Series H convertible preferred stock is convertible into 10 shares of the Veritec’s common stock at the option of the holder. As of June 30, 2014 and 2011, there were 1,000 shares of Series H convertible preferred stock issued and outstanding.
	Common Stock
	Common stock consists of $.01 par value, 50,000,000 shares authorized, 15,920,088 shares issued and outstanding as of June 30, 2014 and 2013.
	Common Stock to be issued
	Shares to be issued to consultant for services rendered
	On June 7, 2013, the Company entered into a "Business Development Agreement" with a consultant to assist the Company in establishing business relationships in the United States and to assist in seeking financing for the Company. Upon signing of the agreement the Company granted the consultant 50,000 shares of common stock with a fair value at the date of grant of $7,477 as an initial non-refundable engagement fee and recognized such amount as consulting fee during the fiscal year June 30, In December 2013 and in March 2014, the Company an additional ing 50,000 shares of common stock issuable under the agreement, and recorded the aggregate fair value as of their grant dates of $3,869 as consulting fees during the fiscal year ended June 30, 2014. The shares due have not been issued as of June 30, 2014 and have been reflected as common shares to be issued in the accompanying consolidated balance sheet.
	Shares to be issued to directors for services
	During the year ended June 30, 2014, the Company granted an aggregate of 275,000 shares of the Company’s common stock to 4 of the Company’s directors for services rendered and recognized as directors’ fees during the fiscal year ended June 30, 2014 based on their fair value on their grant dates in the aggregate amount of $25,250. The shares due have not been issued as of June 30, 2014 and have been reflected as common shares to be issued in the accompanying consolidated balance sheet.

STOCK_OPTIONS_AND_WARRANTS

STOCK OPTIONS AND WARRANTS	12 Months Ended
	Jun. 30, 2014
Other Liabilities Disclosure [Abstract]	'
STOCK OPTIONS AND WARRANTS	'
	NOTE 8 – STOCK OPTIONS AND WARRANTS
	Stock Options
	A summary of stock options as of June 30, 2014 and for the two years then ended is as follows:
			Number of				Weighted - Average
			Shares				Exercise Price
		Outstanding at June 30, 2012		754,249			$	0.42
		Granted		2,500,000			$	0.08
		Forfeited		(88,666	)		$	0
		Outstanding at June 30, 2013		3,165,653			$	0.42
		Granted		—			$	0
		Forfeited		(109,083	)		$	0
		Outstanding at June 30, 2014		3,056,500			$	0.42
		Exercisable at June 30, 2014		3,056,500			$	0.42
	The Company has agreements with certain employees that provide for five years of annual grants of options, on each employment anniversary date, to purchase shares of the Company’s common stock. The option price is determined based on the market price on the date of grant, the options vest one year from the date of grant, and the options expire five years after vesting. The Company granted 2,500,000 options under this arrangement 2013. There were no options granted in 2014 under this agreement. The weighted-average grant date fair value for options granted in fiscal 2013 was $0.43. The Company recognized stock-based compensation expense of $0 and $181,171 during the years ended June 30, 2014 and 2013, respectively. As of June 30, 2014, there was no remaining unrecognized compensation costs related to stock options. Based upon the trading value of the common shares, there was no intrinsic value of these options as of June 30, 2014
	The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model that uses the weighted-average assumptions noted in the following table. The risk-free rate for periods within the contractual life of the options is based on the U. S. Treasury yield in effect at the time of the grant. Volatility was based on the historical volatility of the Company’s common stock. The Company estimated the expected life of options based on historical experience and other averaging methods.
						Years Ended
						June 30,
						2014			2013
	Risk-free interest rates					--%			--%
	Dividend yields					--%			--%
	Volatility					--%			--%
	Weighted average expected life					N/A			N/A
	Additional information regarding options outstanding as of June 30, 2014 is as follows:
	Options Outstanding at June 30, 2014											Options Exercisable at June 30, 2014
								Weighted
								Average			Weighted				Weighted
				Number of				Remaining			Average		Number of		Average
		Range of		Shares				Contractual Life			Exercise		Shares		Exercise
		Exercise		Outstanding				(Years)			Price		Exercisable		Price
		$0.13 - $1.45		3,056,500				2.06		$	0.42		3,056,500	$	0.42
				3,056,500									3,056,500
	The weighted-average remaining contractual life of stock options outstanding and exercisable at June 30, 2014 is 2.06 years.
	Stock Warrant
	A summary of stock warrants as of June 30, 2014 and for the two years then ended is as follows:
			Number of				Weighted - Average
			Shares				Exercise Price
		Outstanding at June 30, 2012		275,000			$	2
		Granted		—
		Forfeited		—
		Outstanding at June 30, 2013		275,000			$	2
		Granted		—
		Forfeited		(275,000	)		$	2
		Outstanding at June 30, 2014		—
	The Company issued 275,000 shares of warrants related to notes payable issued in fiscal year 2009. The warrants are fully vested as of issue date, and were exercisable at $2 per share. The weighted average contractual life of the warrants was 5 years, which expired in March 2014 and May 2014 during the current fiscal year ended June 30, 2014.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	NOTE 9 - INCOME TAXES
	Veritec files a consolidated income tax return in the United States. For the year ended June 30, 2014, net income was $302,053 and our provision for income taxes was zero. We made no provision for income taxes due to our utilization of federal net operating loss carry forwards to offset both regular taxable income and alternative minimum taxable income. For the year ended June 30, 2013, net loss was $821,572 and no income tax provision was recorded.
	It is the Company’s practice to recognize penalties and/or interest related to income tax matters in the interest and penalties expense. There are no interest and penalties recognized in the consolidated statement of operations or accrued on the consolidated balance sheets.
	The company is subject to U.S. federal, state, or local income tax examination by tax authorities for all years for which a loss carry forward is utilized in subsequent periods.
	A reconciliation between the expected federal income tax rate and the actual tax rate is as follows:
		Year Ended
		June 30,
		2014			2013
	Federal Statutory tax rate		(34	%)		(34	%)
	State tax, net of federal benefit		(6	%)		(6	%)
	Change in valuation		(40	%)		(40	%)
	Allowance		40	%		40	%
	Effective tax rate		-	%		-	%
	The following is a summary of the deferred tax assets):
		June 30,
		2014			2013
	Net operating loss carryforwards		4,021,600			4,150,073
	Valuation allowance		(4,021,600	)		(4,150,073	)
	Net deferred tax asset	$	—		$	—
	Deferred income tax assets have been reduced by a valuation allowance as it is more likely than not that they will not be realized.
	Veritec has net operating loss carryforwards of $10,054,000 for federal purposes available to offset future taxable income that expire in varying amounts through 2032. The ability to utilize the net operating loss carry forwards could be limited by Section 382 of the Internal Revenue Code which limits their use if there is a change in control (generally a greater than 50% change in ownership).

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 10 – COMMITMENTS AND CONTINGENCIES
	Operating Leases
	The Company leases its U.S. office facilities from its CEO/Executive Chair under a lease that expired June 30, 2013. that was automatically extended for a 2-year extension, requiring monthly payments of $4,200 plus common area costs. Future annual minimum lease payments are $50,400 in each fiscal year through 2014 totaling $100,800.
	Strategic Partnership Agreements
	On October 25, 2010, the Company entered into a Strategic Services Agreement with National Identity Solutions (NIS). The term of the license is for 5 years commencing on the effective date, which was the date of the first payment, or September 28, 2011. NIS paid the total fee of $250,000 in two installments. The Company classified this fee as deferred revenue to be recognized over the license term of 5 years as the Company has a continuing obligation. As of June 30, 2013, the amount of deferred revenues was $165,347. During the year ended June 30, 2014, the Company recognized revenue of $50,000 relating to this agreement. As of June 30, 2014, the balance remaining to be recognized was $115,347.
	During the third and fourth quarter of the fiscal year ended June 30, 2013, the Company received $100,850 from a major customer for purchase of Veriwrite™ ID cards and custom platform/program. These products and services were not delivered or completed as of June 30, 2013. As a result, the $100,850 advanced money received from the Client was deferred as of June 30, 2013. During the year ended June 30, 2014, the Company completed and delivered the products/services to this Client thus recognized the $100,850 as revenues during the year ended June 30, 2014.
	On November 14, 2012 (effective date), the Company entered into a Strategic Product License Agreement with AAA Western and Central New York (AAA) for $100,000 license fee. The term of the license is for 5 years commencing on the effective date. The Company has classified the license fee as deferred revenue to be recognized ratably over the license term of 5 years as the Company has a continuing obligation. As of June 30, 2013, the amount of deferred revenue was $92,500. During the year ended June 30, 2014, the Company recognized revenue of $20,000 relating to this agreement. As of June 30, 2014, the balance remaining to be recognized was $72,500. Classification as deferred revenue appears proper.
	In May 2013 and June 2013, the Company received $500,000 and $52,600 (aggregated to $552,600) from Winforsys Co., Ltd. and Pan-Co International, Inc. respectively, as payment for 2,500 dongles and Vericode® license software and 130 dongles and Veriread™ license software. As of June 30, 2013, the Company was not able to complete and deliver the ordered items as a result the Company recorded the $552,600 as deferred revenues. During the year ended June 30, 2014, the Company completed and delivered the products to Winforysys Co., LTd and Pan-Co International, Inc. thus recognized the $552,600 as revenues during the year ended June 30, 2014.
	On August 5, 2013, the Company and a Major truck leasing company entered into a distributor’s license agreement wherein the Company granted the Distributor authority to promote the licensed program of the Company (“On-Off Blink”) in the freight, trucking, equipment financing, equipment leasing, and consumer debt settlement industries (herein after referred as “Selected Industries”) in the United States, Canada and Mexico for a period of five years and may be extended for an additional periods of five years upon written agreement of the parties. The Company determined that the revenue process is not complete since the Company has yet to perform certain services to ensure that the program is in operation as planned once the product is in the market. Therefore, the $60,000 billed and collected fees were deferred as of June 30, 2014.
	Incentive Compensation Bonus Plan
	On December 5, 2008, the Company adopted an incentive compensation bonus plan to provide payments to key employees in the aggregated amount of 10% of pre-tax earnings in excess of $3,000,000 after the end of each fiscal year to be distributed annually to employees.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 11 – SUBSEQUENT EVENTS
	Strategic Partnership Agreement
	On July 14, 2014, the Company entered into a strategic partnership agreement with Cellular Network Centers (CNC) to combine the distribution of CNC products and services with the Company’s blinx On-Off™, TogglePay™ close loop/open loop prepaid and BI-O ID cards.  Per the terms of the agreement, the Company received $75,000 and plans to receive the remaining $75,000 by August 2014.  The Company, upon the receipt of the remaining $75,000, is obligated to issue CNC 100,000 shares of its common stock.
	On March, 2014, the Company responded to a RFI (request for information) from AAA National to submit a proposal for the AAA Member Data Capture (MDC) program.  After an extensive evaluation process by the AAA MDC Committee which consists of 16 committee members, on August 2014, the Company received final confirmation and got the highest rate amongst the 4 remaining companies. The Company is waiting for the AAA MDC Committee to formally request the test launch for a national merchant discounts programs to be fully tested for AAA members.
	August 2014 AAA Western & Central NY also notified its commitment and ready to launch the “Swipe and Save” and “Load and Pay” program with the Company before the end of 2014.
	On September 30, 2014, Veritec ("Buyer"),   and Tangible Payments LLC ("Seller"), a Maryland Limited Liability Company, entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") pursuant to which Veritec acquired certain assets and liabilities of the Tangible Payments LLC. As part of the Asset Purchase Agreement, Timothy Spear, the President of Tangible Payments LLC, entered into employment agreement with Veritec. The employment agreement makes Timothy Spear a principal officer in the Veritec Company.
	The purchase price for the acquisition was comprised of 250,000 shares of restricted stock of Veritec valued at $37,500, issuable upon closing, and an earnout payment of $155,000. The earnout payment is payable on a monthly basis from the net profits derived from the acquired assets commencing three months after the closing. The earnout payment is accelerated and the balance of the earnout payment shall be due in full at such time as Veritec receives equity investments aggregating $1.3 million.

OPERATIONS_AND_SUMMARY_OF_SIGN1

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Nature of Business	'
	Nature of Business
	The Company is primarily engaged in the development, marketing, sales and licensing of products and rendering of professional services related thereto in the following two fields of technology: (1)  proprietary two-dimensional matrix symbology (also commonly referred to as “two-dimensional barcodes” or “2D barcodes”), and (2) mobile banking solutions.
	The Company’s two-dimensional matrix symbology technology will hereafter be referred to as the Company’s “Barcode Technology”, and the Company’s mobile banking technology will hereafter be referred to as its “Mobile Banking Technology”.
	The Company’s Barcode Technology was originally invented by the founders of Veritec under United States patents 4,924,078, 5,331,176, 5,612,524 and 7,159,780.  Our principal licensed product to date that contains our VeriCode ® Barcode Technology has been a product identification system for identification and tracking of manufactured parts, components and products mostly in the liquid crystal display (LCD) markets. The VeriCode® symbol is a two-dimensional high data density machine-readable symbol that can contain up to approximately 500 bytes of data.
	The Company’s VSCode® Barcode Technology is a derivative of the VeriCode® symbol with the ability to encrypt a greater amount of data by increasing data density.  The VSCode ® is a data storage “container” that offers a high degree of security and which can also be tailored to the application requirements of the user. The VSCode ® symbol can hold any form of binary information that can be digitized, including numbers, letters, images, photos, graphics, and the minutia for biometric information, including fingerprints and facial image data, to the extent of its data storage capacity, that are likewise limited by the resolution of the marking and reading devices employed by the user.  VSCode ® is ideal for secure identification documents (such as national identification cards, driver’s licenses, and voter registration cards), financial cards, medical records and other high security applications.
	In its PhoneCodes™ product platform, Veritec developed software to send, store, display, and read a VeriCode® Barcode Technology symbol on the LCD screen of a mobile phone. With the electronic media that provide the ease of transferring information over the web, Veritec’s PhoneCodes™ technology enables individuals and companies to receive or distribute gift certificates, tickets, coupons, receipts, or engage in banking transactions using the VeriCode ® technology via wireless phone or PDA.
	On January 12, 2009, Veritec formed VTFS, a Delaware corporation, to bring its Mobile Banking Technology, products and related professional services to market.  In May 2009 Veritec was registered by Security First Bank in Visa’s Third Party Registration Program as a Cardholder Independent Sales Organization and Third-Party Servicer.  As a Cardholder Independent Sales Organization, Veritec was able to promote and sell Visa branded card programs.  As a Third-Party Servicer, Veritec provided back-end cardholder transaction processing services for Visa branded card programs on behalf of Security First Bank. As of October 2010 the Company’s registration with Security First Bank terminated. As of April 2011 the Company signed an ISO and processor agreement with Palm Desert National Bank (which was later assigned to First California Bank) to market and processes the Company’s Visa branded card program on behalf of the bank. First California Bank was sold to Pacific Western Bank and June 2013 Pacific Western Bank closed its entire debit card division and transferred its contract with VTFS to Central Bank of Kansas City Bank. On February 5th, 2014 the entire relationship between Veritec and Pacific Western Bank ended and the new relationship with Central Bank of Kansas City began.
	Our VeriSuite™ card enrollment system was released in July 2009.  The VeriSuite™ system is a user friendly and cost effective solution that gives governments and businesses the ability to provide cardholders with an identity card containing Veritec’s VSCode® Barcode Technology.  The VeriSuite™ system provides secure Bio-ID Cards such as citizen identification, employee cards, health benefit cards, border control cards, financial cards, and more.
	The Company has a portfolio of five United States and eight foreign patents. In addition, we have seven U.S. and twenty-eight foreign pending patent applications.
Principles of Consolidation	'
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances were eliminated in consolidation.
Use of Estimates	'
	Use of Estimates
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include estimates for reserves of uncollectible accounts, analysis of impairments of long lived assets, accruals for potential liabilities and assumptions made in valuing stock instruments issued for services.
Accounts Receivable	'
	Accounts Receivable
	The Company sells to domestic and foreign companies and grants uncollateralized credit to customers, but requires deposits on unique orders. Management periodically reviews its accounts receivable and provides an allowance for doubtful accounts after analyzing the age of the receivable, payment history and prior experience with the customer. The estimated loss that management believes is probable is included in the allowance for doubtful accounts.
	While the ultimate loss may differ, management believes that any additional loss will not have a material impact on the Company's financial position. Due to uncertainties in the settlement process, however, it is at least reasonably possible that management's estimate will change during the near term.
Inventories	'
	Inventories
	Inventories, consisting of purchased components for resale, are stated at the lower of cost or market, applying the first-in, first-out (FIFO) method. Inventory is net of reserves of $23,900 at both June 30, 2014 and 2013.
Property and Equipment	'
	Property and Equipment
	Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over estimated useful lives of 3 to 7 years. When assets are retired or otherwise disposed, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is recognized. Maintenance and repairs are expensed as incurred; significant renewals and betterments are capitalized.
	Management regularly reviews property, equipment and other long-lived assets for possible impairment. This review occurs quarterly, or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows (undiscounted and without interest charges) expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. Based upon management’s assessment, there were no indicators of impairment at June 30, 2014 or 2013.
Concentrations	'
	Concentrations
	The Company’s cash balances on deposit with banks are guaranteed by the Federal Deposit Insurance Corporation up to $250,000. The Company may be exposed to risk for the amounts of funds held in one bank in excess of the insurance limit. In assessing the risk, the Company’s policy is to maintain cash balances with high quality financial institutions. The Company had cash balance in excess of the guarantee during the year ended June 30, 2013.
Major Customers:	'
	Major Customers:
	Customers in excess of 10% of total revenues were as follows:
		Years Ended June 30,
			2014		2013
	Customer A		31%		18%
	Customer B		16%		11%
	Customer C		8%		31%
	Customer D		6%		12%
			61%		72%
	As of June 30, 2014, the Company had approximately $86,361 (69%) and $23,250 (19%) of accounts receivable due from its major customers. As of June 30, 2013, the Company had approximately 250,000 (83%) and $26,563 (9%), respectively, of accounts receivable due from its major customers.
Foreign Revenues:	'
	Foreign Revenues:
	Foreign revenues accounted for 70% of the Company’s total revenues in fiscal 2014 and 96% in fiscal 2013. (54% Korea, 10% Taiwan, and 8% others in fiscal 2014 and 21% Taiwan, 70% Korea, and 5% others in fiscal 2013.)
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	Fair Value Measurements are adopted by the Company based on the authoritative guidance provided by the Financial Accounting Standards Board, with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption based on the authoritative guidance provided by the Financial Accounting Standards Board did not have a material impact on the Company's fair value measurements. Based on the authoritative guidance provided by the Financial Accounting Standards Board defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. FASB authoritative guidance establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows:
	Level 1 - Quoted prices in active markets for identical assets or liabilities.
	Level 2 - Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.
	Level 3 - Unobservable inputs based on the Company's assumptions.
	The Company had no such assets or liabilities recorded to be valued on the basis above at June 30, 2014 or 2013.
	For certain financial instruments, the carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts receivable, and current liabilities, including notes payable and convertible notes, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.
Revenue Recognition	'
	Revenue Recognition
	The Company accounts for revenue recognition in accordance with guidance of the Financial Accounting Standards Board. Revenues for the Company are classified into four separate products: license revenue (Veritec’s Multi-Dimensional matrix symbology), hardware revenue, identification card revenue, and debit card revenue.
	Revenues from licenses, hardware, and identification cards are recognized when the product is shipped, the Company no longer has any service or other continuing obligations, and collection is reasonably assured. The process typically begins for license and hardware revenue with a customer purchase order detailing its hardware specifications so the Company can import its software into the customer's hardware. Once importation is completed, if the customer only wishes to purchase a license, the Company typically transmits the software to the customer via the Internet. Revenue is recognized at that point. If the customer requests both license and hardware products, once the software is imported into the hardware and the process is complete, the product is shipped and revenue is recognized at time of shipment. Once the software and/or hardware are either shipped or transmitted, the customers do not have a right of refusal or return. Under some conditions, the customers remit payment prior to the Company having completed importation of the software. In these instances, the Company delays revenue recognition and reflects the prepayments as customer deposits.
	The process for identification cards begins when a customer requests, via the Internet, an identification card. The card is reviewed for design and placement of the data, printed and packaged for shipment. At the time the identification cards are shipped and collection is reasonably assured, revenue is recognized.
	The Company, as a processor and a distributor, recognizes revenue from transaction fees charged cardholders for the use of its issued mobile debit cards. The fees are recognized on a monthly basis after all cardholder transactions have been summarized and reconciled with third party processors.
Shipping and Handling Fees and Costs	'
	Shipping and Handling Fees and Costs
	For the years ended June 30, 2014 and 2013, shipping and handling fees billed to customers of $2,125 and $1,816, respectively were included in revenues and shipping and handling costs of $2,032 and $1,675, respectively were included in cost of sales.
Research and Development	'
	Research and Development
	Research and development costs were expensed as incurred.
Loss per Common Share	'
	Loss per Common Share
	Basic earnings (loss) per share are computed by dividing the net income (loss) applicable to Common Stockholders by the weighted average number of shares of Common Stock outstanding during the year. Diluted earnings (loss) per share is computed by dividing the net income (loss) applicable to Common Stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Potential common shares are excluded from the computation as their effect is antidilutive.
	For year ended June 30, 2014 the calculation of diluted earnings per share included stock options and warrants, calculated under the treasury stock method, and excluded preferred stock since the effect was antidilutive. For the year ended June 30, 2013 the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an anti-dilutive effect.
	The calculation of weighted average shares outstanding – diluted is as follows:
		30-Jun
		2014		2013
	Net income (loss) attributable to common stockholders	$	302,053	$	(821,572	)
	Denominator:
	Weighted average shares outstanding - basic		15,920,088		15,920,088
	Effect of dilutive instruments:
	Options		3,056,500		—
	Weighted average shares outstanding-diluted		18,976,588		15,920,088
	As of June 30, 2014 and 2013, we excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock, from our calculation of earnings per share, as their effect would have been anti-dilutive
		June 30,
		2014		2013
	Warrants		—		275,000
	Series H Preferred Stock		10,000		10,000
	Convertible Notes Payable		6,347,046		8,146,039
	Options		—		3,165,583
	Total		6,357,046		11,596,622
Stock-Based Compensation	'
	Stock-Based Compensation
	The Company periodically issues stock options and warrants to employees and non-employees in capital raising transactions, for services and for financing costs.  Stock-based compensation for employees are measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite service period. Options vest and expire according to terms established at the grant date. The value of the stock compensation to non-employees is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete.
Income Taxes	'
	Income Taxes
	Current income tax expense is the amount of income taxes expected to be payable for the current year. A deferred income tax asset or liability is established for the expected future consequences of temporary differences in the financial reporting and tax bases of assets and liabilities. The Company considers future taxable income and ongoing, prudent and feasible tax planning strategies, in assessing the value of its deferred tax assets. If the Company determines that it is more likely than not that these assets will not be realized, the Company will reduce the value of these assets to their expected realizable value, thereby decreasing net income. Evaluating the value of these assets is necessarily based on the Company’s judgment. If the Company subsequently determined that the deferred tax assets, which had been written down, would be realized in the future, the value of the deferred tax assets would be increased, thereby increasing net income in the period when that determination was made.
Recently Issued Accounting Standards	'
	Recently Issued Accounting Standards
	On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers. ASU 2014-09 will eliminate transaction- and industry-specific revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for reporting periods beginning after December 15, 2016, and early adoption is not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Management is currently assessing the impact the adoption of ASU 2014-09 and has not determined the effect of the standard on our ongoing financial reporting.
	In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-08 (ASU 2014-08), Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360). ASU 2014-08 amends the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations or that have a major effect on the Company's operations and financial results should be presented as discontinued operations. This new accounting guidance is effective for annual periods beginning after December 15, 2014. The Company is currently evaluating the impact of adopting ASU 2014-08 on the Company's results of operations or financial condition.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15 (ASU 2014-15), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements.  The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued.  An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.  The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted.
	Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the Securities Exchange Commission (the "SEC") did not or are not believed by management to have a material impact on the Company's present or future financial statements.

OPERATIONS_AND_SUMMARY_OF_SIGN2

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Customers in excess of 10% total revenues	'
		Years Ended June 30,
			2014		2013
	Customer A		31%		18%
	Customer B		16%		11%
	Customer C		8%		31%
	Customer D		6%		12%
			61%		72%
Weighted average shares outstanding diluted	'
		30-Jun
		2014		2013
	Net income (loss) attributable to common stockholders	$	302,053	$	(821,572	)
	Denominator:
	Weighted average shares outstanding - basic		15,920,088		15,920,088
	Effect of dilutive instruments:
	Options		3,056,500		—
	Weighted average shares outstanding-diluted		18,976,588		15,920,088
Earnings per share	'
		June 30,
		2014		2013
	Warrants		—		275,000
	Series H Preferred Stock		10,000		10,000
	Convertible Notes Payable		6,347,046		8,146,039
	Options		—		3,165,583
	Total		6,357,046		11,596,622

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property and Equipment	'
		June 30,
		2014		2013
	Furniture and equipment	$	140,316	$	139,083
	Software		73,000		73,000
	Vehicles		23,301		23,301
			236,617		235,384
	Less accumulated depreciation		235,623		235,384
		$	994	$	—

NOTES_PAYABLE_Tables

NOTES PAYABLE (Tables)	12 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Notes payable	'
		June 30,
		2014		2013
	Convertible notes payable (includes $130,898 and $132,920, respectively, to non-related parties), unsecured, interest at 8%, due September 2010 through November 2010. The principal and accrued interest is convertible at a conversion price of $0.30. The principal and interest is due immediately on the event of default or change of control. The notes are currently in default.	$	783,261	$	739,815
	Convertible notes payable to related parties, unsecured, principal and interest are convertible into common stock at $0.30 to $0.33 per share, interest at 8 % to 10%, due on demand to November 2010. The notes are currently in default.		1,010,148		1,023,173
	Convertible note payable to related party, secured by the Company’s intellectual property, principal and interest are convertible into common stock at $0.25 per share subject to board of directors’ approval, interest at 8%. The note was due November 2010 and is now in default.		281,364		258,871
	Note payable to related party, secured by the Company’s intellectual property, interest at 8% due August 2010 and is now in default.		546,621		502,578
	Notes payable to related parties, unsecured, interest at 0% to 8%, due on demand.		146,468		134,430
	Note payable, unsecured, interest at 10%. The note was due in January 2010 and is now in default.		29,156
					27,167
	Notes payable, secured by the Company's certificate of deposit with a financial institution and classified on the balance sheet as restricted cash, interest at 5%, convertible into common stock at $0.08 per share, due on demand
			32,215
					30,753
	Convertible note payable, unsecured, principal and interest are convertible into common stock at $0.30 to $0.40 per share subject to board of directors’ approval, interest at 5% to 8%, due January 2011 to March 2013 and is now in default.		25,614		23,411
	Notes payable, unsecured, interest at 5%, due January 2013. (1)		—		301,228
	Note payable, secured by the Company's intellectual property, interest at variable rates starting September 1, 2012, due December 2012 and is now in default.		285,606		270,150
	Convertible note payable, unsecured, principal and interest are convertible into common stock at $1.00 per share subject to board of directors’ approval, interest at 8%. The note was due November 2009 and is now in default.		1,766		1,525
	Total	$	3,142,219	$	3,313,101
Notes payable for balance sheet purposes	'
		2014		2013
	Notes payable	$	493,017	$	787,153
	Notes payable, related party		2,649,202		2,525,948
		$	3,142,219	$	3,313,101

STOCK_OPTIONS_AND_WARRANTS_Tab

STOCK OPTIONS AND WARRANTS (Tables)	12 Months Ended
	Jun. 30, 2014
Other Liabilities Disclosure [Abstract]	'
Summary of stock options	'
			Number of				Weighted - Average
			Shares				Exercise Price
		Outstanding at June 30, 2012		754,249			$	0.42
		Granted		2,500,000			$	0.08
		Forfeited		(88,666	)		$	0
		Outstanding at June 30, 2013		3,165,653			$	0.42
		Granted		—			$	0
		Forfeited		(109,083	)		$	0
		Outstanding at June 30, 2014		3,056,500			$	0.42
		Exercisable at June 30, 2014		3,056,500			$	0.42
Fair value of stock options	'
						Years Ended
						June 30,
						2014			2013
	Risk-free interest rates					--%			--%
	Dividend yields					--%			--%
	Volatility					--%			--%
	Weighted average expected life					N/A			N/A
Additional information on options outstanding	'
	Options Outstanding at June 30, 2014											Options Exercisable at June 30, 2014
								Weighted
								Average			Weighted				Weighted
				Number of				Remaining			Average		Number of		Average
		Range of		Shares				Contractual Life			Exercise		Shares		Exercise
		Exercise		Outstanding				(Years)			Price		Exercisable		Price
		$0.13 - $1.45		3,056,500				2.06		$	0.42		3,056,500	$	0.42
				3,056,500									3,056,500
Summary of stock warrants	'
			Number of				Weighted - Average
			Shares				Exercise Price
		Outstanding at June 30, 2012		275,000			$	2
		Granted		—
		Forfeited		—
		Outstanding at June 30, 2013		275,000			$	2
		Granted		—
		Forfeited		(275,000	)		$	2
		Outstanding at June 30, 2014		—

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Reconciliation between the federal income tax rate and the actual tax rate	'
		Year Ended
		June 30,
		2014			2013
	Federal Statutory tax rate		(34	%)		(34	%)
	State tax, net of federal benefit		(6	%)		(6	%)
	Change in valuation		(40	%)		(40	%)
	Allowance		40	%		40	%
	Effective tax rate		-	%		-	%
Summary of the deferred tax assets	'
		June 30,
		2014			2013
	Net operating loss carryforwards		4,021,600			4,150,073
	Valuation allowance		(4,021,600	)		(4,150,073	)
	Net deferred tax asset	$	—		$	—

OPERATIONS_AND_SUMMARY_OF_SIGN3

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Customers in excess of 10% total revenues (Details)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Total Revenues	0.61	0.72
Customer A	'	'
Revenues	31.00%	18.00%
Customer B	'	'
Revenues	16.00%	11.00%
Customer C	'	'
Revenues	8.00%	31.00%
Customer D	'	'
Revenues	6.00%	12.00%

OPERATIONS_AND_SUMMARY_OF_SIGN4

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Weighted average shares outstanding diluted (Details) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Accounting Policies [Abstract]	'	'
Net income (loss) attributable to common stockholders	$302,053	($821,572)
Weighted average shares outstanding - basic	15,920,088	15,920,088
Options	$3,056,500	'
Weighted average shares outstanding-diluted	18,976,588	15,920,088

OPERATIONS_AND_SUMMARY_OF_SIGN5

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings per share (Details)	Jun. 30, 2014	Jun. 30, 2013
Accounting Policies [Abstract]	'	'
Warrants	'	275,000
Series H Preferred Stock	10,000	10,000
Convertible Notes Payable	6,347,046	8,146,039
Options	'	3,165,583
Total	6,357,046	11,596,622

OPERATIONS_AND_SUMMARY_OF_SIGN6

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)

12 Months Ended

12 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jul. 31, 2014

Jul. 31, 2013

Jul. 31, 2014

Jul. 31, 2013

Jul. 31, 2014

Jul. 31, 2013

Jul. 31, 2014

Jul. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Major Customer (69%)

Major Customer (19%)

Major Customer (83%)

Major Customer (9%)

Foreign revenues

Foreign revenues

Korea

Korea

Taiwan

Taiwan

Others

Others

Minimum

Maximum

Inventories

$23,900

$23,900

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Useful Life

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'7 years

Cash balance

250,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accounts receivables due from major customers

'

'

86,361

23,250

250,000

26,563

'

'

'

'

'

'

'

'

'

'

Foreign Revenues

'

'

'

'

'

'

70.00%

96.00%

54.00%

70.00%

10.00%

21.00%

8.00%

5.00%

'

'

Shipping and handling fees

2,125

1,816

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shipping and handling costs

$2,032

$1,675

'

'

'

'

'

'

'

'

'

'

'

'

'

'

GOING_GONCERN_Details_Narrativ

GOING GONCERN (Details Narrative) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'	'
Working capital deficit	$4,635,039	($19,678,119)	'
Stockholders' deficiency	4,582,088	-4,913,260	-4,280,336
Note payable obligations - in default	3,142,219	787,153	'
Payroll taxes and accrued interest and penalties	539,218	680,461	'
Percent Ownership, Matthews Group	50.00%	'	'
Percent Ownership, Larry Johanns	50.00%	'	'
Funds in the form of convertible notes payable	3,033,835	'	'
Convertible notes payable	$68,500	'	'

RESTRICTED_CASH_Details_Narrat

RESTRICTED CASH (Details Narrative) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Cash and Cash Equivalents [Abstract]	'	'
Restricted Cash	$51,957	$499,277

PROPERTY_AND_EQUIPMENT_Propert

PROPERTY AND EQUIPMENT - Property and Equipment (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Abstract]	'	'
Furniture and equipment	$140,316	$139,083
Software	73,000	73,000
Vehicles	23,301	23,301
Total	236,617	235,384
Less accumulated depreciation	235,623	235,384
Net	$994	'

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Abstract]	'	'
Depreciation Expense	$239	$644

RELATED_PARTY_TRANSACTION_Deta

RELATED PARTY TRANSACTION (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Related Party Transactions [Abstract]	'	'
Accounts payable, related party	$78,753	$82,129
Percent ownership of The Matthews Group, LLC	50.00%	'

NOTES_PAYABLE_Notes_payable_De

NOTES PAYABLE - Notes payable (Details) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Convertible notes payable (A)	'	'
(Convertible) Notes payable	$783,261	$739,815
Interest rate, minimum	8.00%	8.00%
Interest rate, maximum	8.00%	8.00%
Conversion price, low	$0.30	$0.30
Conversion price, high	$0.30	$0.30
Note due	1-Sep-10	1-Sep-10
Note due, period end date	1-Nov-10	1-Nov-10
Convertible notes payable (B)	'	'
(Convertible) Notes payable	1,010,148	1,023,173
Interest rate, minimum	8.00%	8.00%
Interest rate, maximum	10.00%	10.00%
Conversion price, low	$0.30	$0.30
Conversion price, high	$0.33	$0.33
Note due	1-Nov-10	1-Nov-10
Convertible notes payable (C)	'	'
(Convertible) Notes payable	281,364	258,871
Interest rate, minimum	8.00%	8.00%
Interest rate, maximum	8.00%	8.00%
Conversion price, low	$0.25	$0.25
Conversion price, high	$0.25	$0.25
Note due	1-Nov-10	1-Nov-10
Notes payable	'	'
(Convertible) Notes payable	546,621	502,578
Interest rate, minimum	8.00%	8.00%
Interest rate, maximum	8.00%	8.00%
Note due	1-Aug-10	1-Aug-10
Notes payable (B)	'	'
(Convertible) Notes payable	146,468	134,430
Interest rate, minimum	0.00%	0.00%
Interest rate, maximum	8.00%	8.00%
Notes payable (C)	'	'
(Convertible) Notes payable	29,156	27,167
Interest rate, minimum	10.00%	10.00%
Note due	1-Jan-10	1-Jan-10
Notes payable (D)	'	'
(Convertible) Notes payable	32,215	30,753
Interest rate, minimum	5.00%	5.00%
Interest rate, maximum	5.00%	5.00%
Conversion price, low	$0.08	$0.08
Conversion price, high	$0.08	$0.08
Convertible notes payable (D)	'	'
(Convertible) Notes payable	25,614	23,411
Interest rate, minimum	5.00%	5.00%
Interest rate, maximum	5.00%	5.00%
Conversion price, low	$0.30	$0.30
Conversion price, high	$0.40	$0.40
Note due	1-Jan-11	1-Jan-11
Note due, period end date	1-Mar-13	1-Mar-13
Notes payable (E)	'	'
(Convertible) Notes payable	'	301,228
Interest rate, minimum	5.00%	5.00%
Interest rate, maximum	5.00%	5.00%
Note due	1-Jan-13	1-Jan-13
Notes payable (F)	'	'
(Convertible) Notes payable	285,606	270,150
Note due	1-Sep-12	1-Sep-12
Note due, period end date	1-Dec-12	1-Dec-12
Convertible notes payable (E)	'	'
(Convertible) Notes payable	1,766	1,525
Interest rate, minimum	8.00%	8.00%
Interest rate, maximum	8.00%	8.00%
Conversion price, low	$1	$1
Conversion price, high	$1	$1
Note due	1-Nov-09	1-Nov-09
Total	'	'
(Convertible) Notes payable	$3,142,219	$3,313,101

NOTES_PAYABLE_Notes_payable_fo

NOTES PAYABLE - Notes payable for balance sheet purposes (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Debt Disclosure [Abstract]	'	'
Notes payable	$493,017	$787,153
Notes payable, related party	2,649,202	2,525,948
Total	$3,142,219	$3,313,101

NOTES_PAYABLE_Details_Narrativ

NOTES PAYABLE (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2013
Debt Disclosure [Abstract]	'
Unrestricted shares available to lender	1,600,000
Unrestricted shares, price per share	$0.40
Unrestriced shares, value	$129,931
Expected life of unrestricted shares	'1 year
Risk free interest rate	10.00%
Volatility rate	25000.00%
Dividend rate	0.00%
Expense related to amortization of discount	$60,189

STOCKHOLDERS_EQUITY_DEFICIT_De

STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2011	Jun. 30, 1999
			Directors	Series H Convertible	Series H Convertible	Series H Convertible	Series H Convertible
Convertible preferred stock, par value	$1	$1	'	'	'	'	'
Convertible preferred stock, shares authorized	10,000,000	10,000,000	'	276,000	276,000	'	'
Convertible preferred stock, shares issued	1,000	1,000	'	1,000	'	1,000	'
Convertible preferred stock, shares outstanding	1,000	1,000	'	1,000	'	1,000	'
Converted preferred stock into common shares	'	'	'	'	'	'	10
Common stock, par value	$0.01	$0.01	'	'	'	'	'
Common stock, shares authorized	50,000,000	50,000,000	'	'	'	'	'
Common stock, shares issued	15,920,088	15,920,088	'	'	'	'	'
Common stock, shares outstanding	15,920,088	15,920,088	'	'	'	'	'
Shares issued for services	50,000	50,000	275,000	'	'	'	'
Shares issued for services, value	$3,869	$7,477	$25,250	'	'	'	'

STOCK_OPTIONS_AND_WARRANTS_Sum

STOCK OPTIONS AND WARRANTS - Summary of stock options (Details) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Granted	'	2,500,000	'
Number of Shares	'	'	'
Outstanding, beginning of period	$754,249	'	$3,165,653
Granted	'	2,500,000	'
Forfeited	-109,083	-88,666	'
Outstanding, ending of period	$3,056,500	$3,165,653	'
Exercisable	3,056,500	'	'
Weighted - Average Exercise Price	'	'	'
Outstanding Exercise Price, beginning of period	$0.42	$0.42	'
Granted Exercise Price	$0	$0.08	'
Forfeited Exercise Price	$0	$0	'
Outstanding Exercise Price, ending of period	$0.42	$0.42	'
Exercisable Exercise Price	$0.42	'	'

STOCK_OPTIONS_AND_WARRANTS_Fai

STOCK OPTIONS AND WARRANTS - Fair value of stock options (Details)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Other Liabilities Disclosure [Abstract]	'	'
Risk-free interest rates	'	'
Dividend yields	'	'
Volatility	'	'
Weighted average expected life	'	'

STOCK_OPTIONS_AND_WARRANTS_Add

STOCK OPTIONS AND WARRANTS - Additional information on options outstanding (Details) (USD $)	12 Months Ended			12 Months Ended
	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
		Range of Exercise	Number of Shares Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price	Number of Shares Exercisable	Weighted Average Exercise Price (B)
Options Outstanding Exercise price, low	'	$0.13	'	'	'	'	'
Options Outstanding Exercise price, high	'	$1.45	'	'	'	'	'
Shares Outstanding	'	'	$3,056,500	'	'	'	'
Options Outstanding Weighted Average Remaining Contractual Life	'1 year	'	'	'2 years	'	'	'
Options Outstanding Exercise Price	'	'	'	'	$0.42	'	'
Options Exercisable	'	'	'	'	'	3,056,500	'
Options Exercisable Exercise Price	'	'	'	'	'	'	$0.42

STOCK_OPTIONS_AND_WARRANTS_Sum1

STOCK OPTIONS AND WARRANTS - Summary of stock warrants (Details) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Granted	'	2,500,000	'
Warrants	'	'	'
Outstanding, beginning of period	$275,000	'	$275,000
Granted	'	'	'
Forfeited	'	'	'
Outstanding, ending of period	'	$275,000	'
Warrant - Weighted Average Exercise Price	'	'	'
Outstanding Exercise Price, beginning of period	$2	$2	'
Granted Exercise Price	'	'	'
Forfeited Exercise Price	'	'	'
Outstanding Exercise Price, ending of period	'	$2	'

STOCK_OPTIONS_AND_WARRANTS_Det

STOCK OPTIONS AND WARRANTS (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Other Liabilities Disclosure [Abstract]	'	'
Granted options	'	2,500,000
Weighted average fair value options granted	'	$0.43
Stock based compensation	'	$0
Weighted average remaining contractual life	'	'2 years
Stock based compensation expense	$0	$181,171
Issued warrants for notes payable	'	275,000
Warrants, exercisable price per share	'	$2
Warrant, weighted average contractual life	'5 years	'

INCOME_TAXES_Reconciliation_be

INCOME TAXES - Reconciliation between the federal income tax rate and the actual tax rate (Details)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]	'	'
Federal Statutory tax rate	-3400.00%	-3400.00%
State tax, net of federal benefit	-600.00%	-600.00%
Change in valuation	40.00%	40.00%
Allowance	40.00%	40.00%
Effective tax rate	'	'

INCOME_TAXES_Summary_of_the_de

INCOME TAXES - Summary of the deferred tax assets (Details) (USD $)	Jun. 30, 2032	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'
Net operating loss carryforwards	$10,054,000	$4,021,600	$4,150,073
Valuation allowance	'	-4,021,600	-4,150,073
Net deferred tax asset	'	'	'

INCOME_TAXES_Details_Narrative

INCOME TAXES (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2032
Income Tax Disclosure [Abstract]	'	'	'
Net Income	$302,053	($821,573)	'
Operating loss carryforwards	$4,021,600	$4,150,073	$10,054,000
Change in control limit as per Section 382 of the Internal Revenue Code	50.00%	'	'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2014	Dec. 05, 2008
Office lease	$4,200	'
Future annual minimum lease payments	50,400	'
Future annual minimum lease payments	100,800	'
Recognized revenue	50,000	'
License fee	100,000	'
License, useful life	'5 years	'
Incentive compensation bonus plan, pre-tax earnings	'	10
Incentive compensation bonus plan, excess	'	3,000,000
Strategic Service Agreement, NIS	'	'
Payment received from NIS	250,000	'
Deferred revenues	165,347	'
Recognized revenue	50,000	'
Remaining balance to be recognized	115,347	'
Major Client customer	'	'
Major customer payment received, deferred and recognized	100,850	'
Strategic Product License	'	'
Deferred revenues	92,500	'
Recognized revenue	20,000	'
Remaining balance to be recognized	72,500	'
License fee	100,000	'
Winforsys Co and Pan-Co	'	'
Deferred revenues	552,600	'
Remaining balance to be recognized	552,600	'
Received as payment for dongles	552,600	'
Disributor license agreement	'	'
Deferred revenues	$60,000	'

SUBSEQUENT_EVENTS_Details_Narr

SUBSEQUENT EVENTS (Details Narrative) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jul. 14, 2014	Aug. 31, 2014	Sep. 30, 2014
			Strategic Partnership with CNC	Strategic Partnership with CNC	Strategic Partnership with Tangible Payments LLC
Cash Received	'	'	$75,000	'	'
Remaing Proceeds to be Received From Partnership	'	'	'	75,000	'
Shares of common stock to be issued	15,920,088	15,920,088	'	100,000	'
Restricted Stock Issued	'	'	'	'	250,000
Restricked Stock Issued, Value	'	'	'	'	37,500
Earnout Payment	'	'	'	'	155,000
Equity Investments	'	'	'	'	$1,300,000