XML 33 R14.htm IDEA: XBRL DOCUMENT

Non-Standardized Profit-Sharing Plan	12 Months Ended
Jul. 31, 2021
Non Standardized Profit Sharing Plan [Abstract]
NON-STANDARDIZED PROFIT-SHARING PLAN	NOTE 8 – NON-STANDARDIZED PROFIT-SHARING PLAN We currently provide a Non-Standardized Profit-Sharing Plan, adopted September 15, 2006. Under the plan our employees qualify to participate in the plan after one year of employment. Contributions under the plan are based on 25% of the annual base salary of each eligible employee up to $54,000 per year. Contributions under the plan are fully vested upon funding. During the years ended July 31, 2021 and July 31, 2020, the Company issued 7,608,820 and 11,509,022 respectively, common shares to various employees as part of the Company’s profit-sharing plan contribution. The Company recognized stock-based compensation expense for July 31, 2021 and July 31, 2020 of $247,287 and $233,633, respectively, equivalent to the value of the shares calculated based on the share’s closing price at the grant dates.

Non-Standardized Profit-Sharing Plan

12 Months Ended

Jul. 31, 2021

Non Standardized Profit Sharing Plan [Abstract]

NOTE 8 – NON-STANDARDIZED PROFIT-SHARING PLAN

We currently provide a Non-Standardized Profit-Sharing Plan, adopted September 15, 2006. Under the plan our employees qualify to participate in the plan after one year of employment. Contributions under the plan are based on 25% of the annual base salary of each eligible employee up to $54,000 per year. Contributions under the plan are fully vested upon funding.

During the years ended July 31, 2021 and July 31, 2020, the Company issued 7,608,820 and 11,509,022 respectively, common shares to various employees as part of the Company’s profit-sharing plan contribution. The Company recognized stock-based compensation expense for July 31, 2021 and July 31, 2020 of $247,287 and $233,633, respectively, equivalent to the value of the shares calculated based on the share’s closing price at the grant dates.