Accounts Payable and Accrued Expenses - Shareholders

12 Months Ended

Jan. 31, 2012

Accounts Payable and Accrued Expenses - Shareholders [Abstract]

Accounts Payable and Accrued Expenses - Shareholders [Text Block]

Note 8.  Accounts Payable and Accrued Expenses – Shareholders

During the quarter ending October 31, 2011, a shareholder reduced the debt owing to him by converting $269,180 of debt into common equity. The shareholder exercised 1,679,150 warrants to purchase common shares at $0.12, exercised 300,000 in options at $0.10 and accepted 2,164,000 common shares for a total settlement of $269,180.

Another shareholder exercised 1,180,670 warrants to purchase common shares at $0.12 and accepted an additional 1,000,000 common shares in full settlement of debt owing in the amount of $141, 680.