STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jul. 31, 2013

STOCK-BASED COMPENSATION

Schedule of stock option transactions

	Number of Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding, beginning of year		3,624,907		$	10.31
Granted		10,500			5.15
Exercised		(65,325	)		2.30
Forfeited		(106,850	)		3.02
Expired		(255,949	)		23.49
Outstanding, end of year		3,207,283		$	9.65		6.07	$	13,801,439
Options exercisable, end of year		2,099,758		$	13.09		5.21	$	7,335,791

Schedule of weighted-average assumptions used in the option pricing model for stock option grants

	2013			2012			2011
Expected volatility		107.0	%		101.4	%		93.5	%
Risk-free interest rate		0.5	%		0.7	%		1.0	%
Expected lives in years		4.0			4.0			4.0
Dividend yield		0.0	%		0.0	%		0.0	%

Schedule of restricted share award

Restricted share award transactions during fiscal year 2013 are summarized as follows:

	Number of Restricted Share Awards			Weighted- Average Fair Value Per Award
Restricted share awards, beginning of year		1,473,497		$	3.29
Granted		238,483			5.88
Vested		(446,982	)		3.49
Forfeited		(33,375	)		3.19
Restricted share awards, end of year		1,231,623		$	3.73