XML 15 R5.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Oct. 31, 2016
Oct. 31, 2015
Cash Flows From Operating Activities:    
Net (loss)/income $ 560,238 $ (1,731,265)
Adjustments to reconcile net (loss) / income to net cash used in operating activities:    
Depreciation and amortization 52,661
Stock compensation expense 27,344
Common stock issued for services rendered 4,500
Gain on disposal of property and equipment 1,276
Common stock issued as make-whole payments on preferred stock 113,400
Change in fair value of derivative liabilities (779,895) 315,963
Changes in operating assets and liabilities    
Accounts payable and accrued expenses 211,546 522,065
Other current assets (3,537) (784)
Net Cash Used in Operating Activities (10,372) (696,117)
Cash Flows From Financing Activities:    
Proceeds from exercise of stock options 2,952
Net Cash Provided by Financing Activities 2,952
Effect of Exchange Rates on Cash (73) (4,372)
Net Decrease in Cash and Cash Equivalents (10,445) (697,537)
Cash and Cash Equivalents, Beginning of Period 16,899 749,965
Cash and Cash Equivalents, End of Period $ 6,454 $ 52,428