LOSS PER SHARE

3 Months Ended

Oct. 31, 2015

LOSS PER SHARE [Text Block]

NOTE 10: LOSS PER SHARE

The following table reconciles the weighted average number of shares used in the computation of basic and diluted loss per share:

		Three Months Ended October 31,
		2015			2014
Numerator
Net Loss for the Period	$	(5,072,034	)	$	(6,726,227	)
Denominator
Basic Weighted Average Number of Shares		98,566,315			91,280,843
Dilutive Stock Options and Warrants		-			-
Diluted Weighted Average Number of Shares		98,566,315			91,280,843
Net Loss per Share, Basic and Diluted	$	(0.05	)	$	(0.07	)

For the three months ended October 31, 2015 and 2014, 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.