Accounts Payable and Accrued Expenses

3 Months Ended

Oct. 31, 2014

Payables and Accruals [Abstract]

Accounts Payable and Accrued Expenses

Note 5 – Accounts Payable and Accrued Expenses:

Accounts payable and accrued expenses consist of the following:

	October 31, 2014		July 31, 2014
Accounts Payable and Accruals – General and Administrative	$	3,099,210	$	3,208,069
Accounts Payable and Accruals – Research and Development		3,619,738		3,955,543
Accounts Payable and Accruals – Selling and Marketing		326,923		327,067
Accrued Make-whole Payments on Convertible Preferred Stock (see Note 8)		278,977		337,500
Executive Compensation and Directors’ Fees Payable		97,246		205,943
	$	7,422,094	$	8,034,122