Stockholders' Deficiency (Tables)

3 Months Ended

Oct. 31, 2015

Stockholders' deficiency transactions

The stockholders’ deficiency transactions for the three months ended October 31, 2015, including the transactions described above are summarized below:

	Common Stock
	Shares		Amount		Additional Paid-In Capital			Stockholders' Deficiency
Balance at August 1, 2015		825,496,238	$	825,495	$	362,556,710		$	(8,290,320	)
Issuance of common stock on conversion of convertible preferred stocks		27,999,999		28,000		(28,000	)		—
Issuance of common stock as make-whole payments on convertible preferred stock		13,576,707		13,577		99,823			113,400
Issuance of common stock for services		300,000		300		4,200			4,500
Issuance of stock options for services		—		—		27,344			27,344
Exercise of stock options		2,952,404		2,953		—			2,953
Balance at October 31, 2015		870,325,348	$	870,325	$	362,660,077
Other changes to Stockholders’ Deficiency
Net loss for three months ended October 31, 2015									(1,731,265	)
Currency translation adjustment									(2,936	)
Stockholders’ Deficiency at October 31, 2015								$	9,876,324	)

Series F Convertible Preferred Stock

Allocation of initial proceeds

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
Net proceeds	$	2,020,000
Derivative warrant liability fair value		(2,016,064	)
Derivative additional investment rights fair value		(863,735	)
Other issuance costs (finders’ fee)		(166,000	)
Make whole payments liability		(560,250	)
Deemed dividend	$	(1,586,050	)

Series G Convertible Preferred Stock

Allocation of initial proceeds

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
Net proceeds	$	475,000
Derivative warrant liability fair value		(354,535	)
Derivative additional investment rights fair value		(285,048	)
Other issuance costs (finders’ fee)		(40,000	)
Make whole payments liability		(135,000	)
Deemed dividend	$	(339,583	)