OTHER LONG-TERM ASSETS (Tables)

9 Months Ended

Apr. 30, 2017

Other Assets, Noncurrent Disclosure [Abstract]

Schedule of Other Assets, Noncurrent [Table Text Block]

At April 30, 2017, the carrying value of the other long-term asset relating to the Acquisition of CIC and our maximum exposure to loss from the unconsolidated variable interest entity, which would arise if we are unable to exercise the Option, is as follows:

	April 30, 2017		July 31, 2016
Other Long-Term Asset	$	1,553,388	$	1,553,388
Cash Payable Upon Exercise of the Option		(250,000)		(250,000)
Maximum Exposure to Loss	$	1,303,388	$	1,303,388