LOSS PER SHARE

3 Months Ended

Oct. 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 months ended October 31, 2014 and 2013:

		Three Months Ended October 31,
		2014			2013
Numerator
Net Loss for the Period	$	(6,726,227	)	$	(5,879,934	)
Denominator
Basic Weighted Average Number of Shares		91,280,843			86,429,172
Dilutive Stock Options and Warrants		-			-
Diluted Weighted Average Number of Shares		91,280,843			86,429,172
Net Loss per Share, Basic and Diluted	$	(0.07	)	$	(0.07	)

For the three months ended October 31, 2014 and 2013, 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.