Derivative Liabilities (Tables)

12 Months Ended

Jul. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Changes in value of derivative warrant liability

		Value		No. of Warrants
Balance at August 1, 2013 – Derivative warrant liability	$	5,234,293		220,687,537
Exercise of warrants		(2,194,496	)	(76,732,020	)
Additional warrants issued in January 2014 financing		942,279		26,666,668
Additional warrants issued in March 2014 financing		2,016,064		69,166,667
Decrease in fair value of derivative warrant liability		(3,362,497	)	n/a
Balance at July 31, 2014 – Derivative warrant liability		2,635,643		239,788,852
Additional warrants from price protection features of existing warrants		2,111,077		239,788,852
Additional warrants issued in June 2015 financing		354,535		33,333,333
Decrease in fair value of derivative warrant liability		(2,737,840	)	n/a
Balance at July 31, 2015 – Derivative warrant liability	$	2,363,415		512,911,037

Fair Value Assumptions Used in Accounting for Derivative Warrant Liability

	July 31, 2015			July 31, 2014
Current exercise price	$	0.015		$	0.03
Time to expiration		2.5 years			3.3 years
Risk-free interest rate		1.08	%		1.02	%
Estimated volatility		82	%		80	%
Dividend		-0-			-0-
Stock price at period end date	$	0.01		$	0.021

Fair Value Assumptions Used in Accounting for Derivative Additional Investment Rights Liability

	July 31, 2015			July 31, 2014
Underlying number of units of convertible preferred stock		500			2,075
Underlying number of units of warrants		33,333,333			69,166,667
Current exercise price of warrants	$	0.015		$	0.03
Current conversion price of preferred stock	$	0.015		$	0.03
Time to expiration		1.05 years			0.65 years
Risk-free interest rate		0.30	%		0.09	%
Estimated volatility		79	%		61	%
Dividend		-0-			-0-
Stock price at period end date	$	0.01		$	0.021