LOSS PER SHARE

6 Months Ended

Jan. 31, 2014

LOSS PER SHARE [Text Block]

NOTE 11: LOSS PER SHARE

The following table reconciles weighted average number of shares used in the computation of basic and diluted loss per share for the three and six months ended January 31, 2014 and 2013:

		Three Months Ended January 31,						Six Months Ended January 31,
Numerator		2014			2013			2014			2013
Net Loss for the Period	$	(7,178,894	)	$	(5,588,210	)	$	(13,058,828	)	$	(12,885,833	)
Denominator
Basic Weighted Average Number of Shares		89,701,157			85,293,298			88,058,149			85,233,112
Dilutive Stock Options and Warrants		-			-			-			-
Diluted Weighted Average Number of Shares		89,701,157			85,293,298			88,058,149			85,233,112
Net Loss per Share, Basic and Diluted	$	(0.08	)	$	(0.06	)	$	(0.15	)	$	(0.15	)

For the three and six months ended January 31, 2014 and 2013, all outstanding options and share purchase warrants were excluded from the computation of diluted loss per share since losses were reported by the Company during these periods and their effects would be anti-dilutive.