Stockholders' Deficit (Tables)

6 Months Ended

Jul. 31, 2012

Warrants consisted of the following:

	Aggregate intrinsic value		Number of warrants
Outstanding at January 31, 2012	$	-		1,500,000
Granted		-		-
Exercised		-		-
Cancelled		-		-

Outstanding at July 31, 2012	$	-		1,500,000

Exercise Price		Warrants outstanding		Weighted average remaining contractual life		Warrants exercisable		Weighted average exercise price
$	0.114850		1,250,000		2.25		1,250,000	$	0.114850
$	0.114850		250,000		2.25		250,000	$	0.114850

Stock Option Transactions Under Stock Option Plans

Stock option transactions under the Company’s stock option plans the six months ended July 31, 2012 are summarized below:

	Shares		Weighted Average Per Share Exercise Price		Weighted Average Remaining Life (Years)		Aggregate Intrinsic Value
Balance, January 31, 2012		1,150,000	$	0.15		8.9	$	-
Granted		1,000,000		0.15		9.5		-
Exercised		-		-		-		-
Expired		-		-		-		-
Forfeited		-		-		-		-
Balance, July 31, 2012		2,150,000	$	0.15		8.9	$	-

Vested and expected to vest		1,483,333	$	0.15		8.9	$	-
Exercisable, July 31, 2012		1,350,000	$	0.15		8.9	$	-

- Definition

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.

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