DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	12 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2014
Related Party Transaction [Line Items]
General and Administrative Expense, Total	$ 9,297,746	$ 13,230,840	$ 9,825,796
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total	1,429,650	1,108,390	635,303
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total	$ 1,372,381	$ 1,851,074	$ 1,101,932
Due to Related Parties, Current	0	14,660
Stock Issued During Period, Value, New Issues	8,365,037	$ 7,659,139	5,947,792
Due to Related Parties	$ 98,371
Director [Member]
Related Party Transaction [Line Items]
Payment for Management Fee			33,000
Restricted Stock [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues	117,998
Stock Issued During Period, Value, New Issues	$ 109,738
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total		15,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total		$ 18,150
Related Party Transaction, Gain Loss on Transactions with Related Party	11,367
Director and Officer [Member]
Related Party Transaction [Line Items]
General and Administrative Expense, Total	$ 164,566	$ 148,602	$ 152,090