Supplemental Disclosure of Cash Flow Information (Tables)

12 Months Ended

Jul. 31, 2012

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

 Supplemental Disclosure of Cash Flow Information:

	For the Years Ended July 31,
	2012		2011		2010
Cash paid during the year for:
Interest	$	592,525	$	208,906	$	210,082
Income taxes	$	—	$	—	$	—

Disclosure of non-cash investing and financing activities:

Year Ended July 31, 2012
Issuance of common stock as payment of dividends on preferred stock	$	485,190
Year Ended July 31, 2011
Issuance of common stock as payment of dividends on preferred stock	$	347,760
Issuance of common stock as satisfaction of accounts payable and accrued expenses	$	1,110,867
Year Ended July 31, 2010
Issuance of common stock in satisfaction of accounts payable and accrued expenses	$	3,012,595