CONVERTIBLE DEBENTURES	9 Months Ended
Apr. 30, 2012
CONVERTIBLE DEBENTURES [Text Block]	NOTE 14: CONVERTIBLE DEBENTURES Effective September 9, 2011, as a result of the merger with Concentric, the Company assumed all of Concentric’s rights and obligations including liability for certain Series “A” and “B” convertible debentures that were previously issued by Concentric in the aggregate principal amount of $1,127,020. The Series “A” convertible debentures, comprised of $628,376 in aggregate principal accruing interest at 15% annually, are convertible into shares of Concentric at $0.90 per share and mature on December 31, 2012. The Series “B” convertible debentures, comprised of $498,644 in aggregate principal accruing interest at 15% annually, are convertible into shares of Concentric at $1.22 per share and mature on April 22, 2013 and May 21, 2013. At September 9, 2011, the combined fair value of the Series “A” and “B” convertible debentures was estimated to be $1,707,938. On September 26, 2011, the Company settled with certain Series “A” convertible debenture holders for cash payments totaling $1,051,854, resulting in a $721,646 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $330,208. On November 28, 2011, the Company settled certain Series “B” convertible debentures with a cash payment of $318,632, resulting in a $626,919 reduction of the convertible debentures and the recognition of a gain on settlement of convertible debentures of $308,287. On December 21, 2011, the Company settled certain Series “A” and the remaining Series “B” convertible debentures with an aggregate value of $75,714 through the issuance of 72,703 shares of the Company at a price of $3.18 per share, resulting in a $229,747 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $155,481. On February 7, 2012, the Company settled certain Series “A” convertible debentures with an aggregate value of $55,418 through the issuance of 36,539 shares of the Company at a price of $3.93 per share, resulting in a $117,001 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $88,180. On February 27, 2012, the Company settled remaining Series “A” convertible debentures with an aggregate value of $29,668 through the issuance of 19,266 common share of the Company at a price of $3.96 per share, resulting in a $62,307 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $46,625. During the three and nine months ended April 30, 2012, the Company recognized a loss in fair value of convertible debentures of $1,242 and $49,681, respectively. At April 30, 2012, no Series “A” or “B” convertible debentures remained outstanding.

CONVERTIBLE DEBENTURES

9 Months Ended

Apr. 30, 2012

NOTE 14: CONVERTIBLE DEBENTURES

Effective September 9, 2011, as a result of the merger with Concentric, the Company assumed all of Concentric’s rights and obligations including liability for certain Series “A” and “B” convertible debentures that were previously issued by Concentric in the aggregate principal amount of $1,127,020.

The Series “A” convertible debentures, comprised of $628,376 in aggregate principal accruing interest at 15% annually, are convertible into shares of Concentric at $0.90 per share and mature on December 31, 2012. The Series “B” convertible debentures, comprised of $498,644 in aggregate principal accruing interest at 15% annually, are convertible into shares of Concentric at $1.22 per share and mature on April 22, 2013 and May 21, 2013. At September 9, 2011, the combined fair value of the Series “A” and “B” convertible debentures was estimated to be $1,707,938.

On September 26, 2011, the Company settled with certain Series “A” convertible debenture holders for cash payments totaling $1,051,854, resulting in a $721,646 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $330,208.

On November 28, 2011, the Company settled certain Series “B” convertible debentures with a cash payment of $318,632, resulting in a $626,919 reduction of the convertible debentures and the recognition of a gain on settlement of convertible debentures of $308,287.

On December 21, 2011, the Company settled certain Series “A” and the remaining Series “B” convertible debentures with an aggregate value of $75,714 through the issuance of 72,703 shares of the Company at a price of $3.18 per share, resulting in a $229,747 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $155,481.

On February 7, 2012, the Company settled certain Series “A” convertible debentures with an aggregate value of $55,418 through the issuance of 36,539 shares of the Company at a price of $3.93 per share, resulting in a $117,001 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $88,180.

On February 27, 2012, the Company settled remaining Series “A” convertible debentures with an aggregate value of $29,668 through the issuance of 19,266 common share of the Company at a price of $3.96 per share, resulting in a $62,307 reduction of the convertible debentures and the recognition of a loss on settlement of convertible debentures of $46,625.

During the three and nine months ended April 30, 2012, the Company recognized a loss in fair value of convertible debentures of $1,242 and $49,681, respectively. At April 30, 2012, no Series “A” or “B” convertible debentures remained outstanding.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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