DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2014

DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS [Text Block]

NOTE 7: DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

During Fiscal 2014, the Company had transactions with certain officers and directors of the Company as follows:

• incurred $152,090 (Fiscal 2013: $176,099 ; Fiscal 2012: $126,373) in general and administrative costs paid to a company controlled by a direct family member of a current officer; and
• incurred $33,000 (Fiscal 2013: $36,000;  Fiscal 2012: $6,000) in consulting fees paid to a company controlled by a former director of the Company.

During Fiscal 2012, the Company incurred $220,000, in consulting fees paid to a company controlled by a former director of the Company.

At July 31, 2014, amounts owed to related parties totaled $11,234 (July 31, 2013: $9,571). These amounts are unsecured, non-interest bearing and due on demand.