LONG-TERM DEBT (Tables)

9 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

As at April 30, 2018, long-term debt consisted of the following:

	April 30, 2018		July 31, 2017
Principal amount	$	20,000,000	$	20,000,000
Unamortized discount		(761,832)		(745,165)
Long-term debt, net of unamortized discount		19,238,168		19,254,835
Current portion		5,000,000		-
Long-term debt, net of current portion	$	14,238,168	$	19,254,835

Schedule of Maturities of Long-term Debt [Table Text Block]

The aggregate yearly maturities of the long-term debt based on principal amounts outstanding at April 30, 2018, are as follows:

Fiscal 2018	$	-
Fiscal 2019		10,000,000
Fiscal 2020		10,000,000
Total	$	20,000,000