Convertible Notes Payable (Tables)

3 Months Ended

Apr. 30, 2013

Convertible Notes [Line Items]

Schedule of long-term debt instruments

	April 30,		January 31,
	2013		2013
10% Senior Subordinated Convertible Notes due January 31, 2016, net of debt discount of $166,685 (April 30, 2013) and $183,389  (January 31, 2013)	$	1,083,315	$	1,066,611
9% Senior Subordinated Convertible Notes due February 15, 2016, net of debt discount of $177,486 (April 30, 2013) and $186,897 (January 31, 2013)		802,513		693,103
8% Senior Subordinated Convertible Notes due February 1, 2015		150,000		150,000
Total Convertible Notes		2,035,828		1,909,714
Less: Current Portion		-		-
Long Term Portion	$	2,035,828	$	1,909,714

Placement agent warrants

Convertible Notes [Line Items]

Schedule of total expenes recognized for warrants for debt

The fair value of the warrants of $6,724 was based on the Company’s closing stock price at the transaction date and inputs to the Black-Scholes option pricing model as follows: 

Exercise Price	$	0.40
Expected Term (in years)		5.0
Volatility		36.7	%
Dividend rate		0.0	%
Interest rate		0.7	%