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Subsequent Events
3 Months Ended
Oct. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

Note 12 – Subsequent Events:

 

On November 30, 2012, the Company’s subsidiary, Generex Pharmaceuticals Inc., entered in to an agreement with a private lender for a mortgage loan of $855,000 with an annual interest rate of 9.75% and a maturity date of November 30, 2013, secured by real estate owned by the subsidiary. The prior mortgage loan of $156,596 was discharged from the proceeds and the Company received approximately $620,000, after the prior mortgage discharge, legal expenses and other fees.

 

The Company has evaluated subsequent events occurring after the balance sheet date through the date the interim consolidated financial statements were issued.