Income Taxes (Tables)

12 Months Ended

Jul. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets

Significant components of our deferred tax assets are as follows:

	July 31,
	2016			2015
Net operating loss carry-forward	$	30,160,000		$	28,205,000
Stock options and warrants		3,250,000			2,570,000
Other temporary differences		(140,000	)		70,000
Total deferred tax assets		33,270,000			30,845,000
Valuation allowance for deferred tax assets		(33,270,000	)		(30,845,000	)
Net deferred tax assets	$	—		$	—

Schedule of Reconciliation Effective Tax Rate, Percentage

A reconciliation of income taxes computed using the statutory income tax rate, compared to the effective tax rate, is as follows:

	2016			2015
Federal tax benefit at the expected statutory rate		34.0	%		34.0	%
State income tax, net of federal tax benefit		2.3			6.2
Expired net operating loss carryforwards		(1.5	)		(0.3	)
Permanent items		(17.9	)		(0.4	)
Valuation allowance		(16.9	)		(40.3	)
Income tax benefit - effective rate		0.0	%		0.0	%