Income Taxes (Tables)

12 Months Ended

Jul. 31, 2013



	July 31,
	2013		2012
Net operating loss carry-forward	$	22,482,000	$	20,677,000
Stock options and warrants		1,915,000		1,765,000
Other temporary differences		252,000		118,000
Total deferred tax assets		24,649,000		22,560,000
Valuation allowance for deferred tax assets		(24,649,000)		(22,560,000)
Net deferred tax assets	$	0	$	0

Reconciliation Of Effective Tax Rate, Percentage



	2013		2012
Federal tax benefit at the expected statutory rate	34.0	%	34.0	%
State income tax, net of federal tax benefit	5.8		5.8
Expired net operating loss carryforwards	(9.7)		(6.8)
Other	(2.9)		(3.1)
Valuation allowance	(27.2)		(29.9)
Income tax benefit - effective rate	0.0	%	0.0	%

- Definition

Tabular disclosure of deferred tax liabilities not recognized because of the exceptions to comprehensive recognition of deferred taxes, including a description of the temporary differences, events that would cause the temporary differences to become taxable, the cumulative amounts of the temporary differences and the amounts not recognized as deferred tax liabilities or a statement that the determination of the deferred tax liabilities is not practicable.

+ References+ Details