LOSS PER SHARE

12 Months Ended

Jul. 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 Fiscal 2014, 2013 and 2012:

		Year Ended July 31,
Numerator		2014			2013			2012
Net Loss for the Year	$	(25,975,107	)	$	(21,863,091	)	$	(25,083,720	)
Denominator
Basic Weighted Average Number of Shares		89,136,505			85,380,412			78,325,648
Dilutive Stock Options and Warrants		-			-			-
Diluted Weighted Average Number of Shares		89,136,505			85,380,412			78,325,648
Net Loss per Share, Basic and Diluted	$	(0.29	)	$	(0.26	)	$	(0.32	)

For Fiscal 2014, 2013 and 2012, all outstanding stock options and share purchase warrants were excluded from the computation of diluted loss per share since the Company reported net losses for those periods and their effects would be anti-dilutive.