XML 148 R42.htm IDEA: XBRL DOCUMENT

Stockholders' Deficiency (Tables)

9 Months Ended

12 Months Ended

Apr. 30, 2013

Jul. 31, 2012

Schedule of Stockholders Equity [Table Text Block]

The stockholders’ deficiency transactions for the nine months ended April 30, 2013 as described above are summarized below:

										Additional				Change to
		Common Stock								Paid-In				Stockholders’
		Shares				Amount				Capital				Equity

Issuance of common stock on conversion of convertible preferred stock			65,337,495			$	65,338			$	153,662			$	219,000
Issuance of common stock as make-whole payments on convertible preferred stock			22,118,091				22,118				641,812				663,930
Issuance of common stock for services			3,073,688				3,074				220,618				223,692
Issuance of common stock for cash warrant exercises			26,023,461				26,023				754,681				780,704
Issuance of common stock for cashless warrant exercises			29,184,675				29,185				2,333,431				2,362,616
Issuance of common stock for stock option exercises			1,056,488				1,056				—				1,056
Issuance of options in lieu of deferred salary			—				—				585,551				585,551
Amortization of stock options as employee compensation			—				—				27,824				27,824
Total			146,793,898			$	146,794			$	4,717,579				$ 4, 864,373

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following is a summary of warrants issued, forfeited or expired and exercised for the nine months ended April 30, 2013:

		Warrants
Outstanding, August 1, 2012			74,264,078
Add: Issued			270,594,093
Less: Exercised			111,803,243
Less: Expired			175,000
Outstanding, January 31, 2013			232,879,928

As of July 31, 2012, the Company has the following warrants to purchase common stock outstanding:

Number of Shares				Warrant Exercise				Warrant
To be Purchased				Price per Share				Expiration Date

	50,000			$	0.94			March 9, 2013
	125,000			$	3.75			March 26, 2013
	8,844,926			$	0.76			December 15, 2014
	3,572,971			$	0.79			February 4, 2015
	300,000			$	0.39	(average)		February 9, 2015
	200,000			$	1.25			March 7, 2015
	6,022,651			$	1.00			March 15, 2015
	4,000,000			$	0.15			January 16, 2016*
	29,027,322			$	0.15			March 31, 2016*
	3,333,331			$	0.15			July 11, 2016*
	5,454,544			$	0.15			September 30, 2016*
	13,333,333			$	0.15			February 1, 2017*
	74,264,078

* Subject to price protection provisions as described below.

Series B Convertible Preferred Stock [Member]

Schedule of Servicing Liabilities at Fair Value [Table Text Block]

The fair values assigned to each component and the calculation of the amount of the deemed dividend are as follows:

Accounting allocation of initial proceeds		July 31, 2012
Net proceeds		$	1,975,000
Derivative warrant liability fair value			(1,811,746	)
Make-whole payments liability			(540,000	)
Deemed dividend			$(376, 746)

Series C Convertible Preferred Stock [Member]

Schedule of Servicing Liabilities at Fair Value [Table Text Block]

The fair values assigned to each component and the calculation of the amount of the deemed dividend are as follows:

Accounting allocation of initial proceeds		October 31, 2012
Net proceeds		$	725,000
Derivative warrant liability fair value			(624,797	)
Make-whole payments liability			(202,500	)
Deemed dividend		$	(102,297	)

Tabular disclosure of the activity in the balance of servicing liabilities subsequently measured at fair value (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (through assumptions of servicing obligations, and servicing obligations that result from transfers of financial assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value and a description of those changes, and other changes that affect the balance and a description of those changes.

+ References+ Details

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References+ Details