Net Loss Per Share ("EPS"):

6 Months Ended

Jan. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 8 – Net Loss Per Share (“EPS”):

Basic EPS and Diluted EPS for the three and six-month periods ended January 31, 2013 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding during each period. All outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 270,883,228 incremental shares at January 31, 2013, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the loss generated during that period.

Basic EPS and Diluted EPS for the three and six-month periods ended January 31, 2012 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding and the diluted weighted average shares outstanding during each period. All outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 82,654,887 incremental shares at January 31, 2012, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the loss generated during that period.