DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

3 Months Ended

Oct. 31, 2012

DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS [Text Block]

NOTE 8:              DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

During three months ended October 31, 2012, the Company had transactions with certain officers and directors of the Company as follows:

• incurred $48,433 (three months ended October 31, 2011: $34,693) in general and administrative costs paid to a company controlled by a direct family member of a current officer; and

• Incurred $9,000 (three months ended October 31, 2011: $Nil) in consulting fees paid to a company controlled by a current director of the Company.

During the three months ended October 31, 2011, the Company incurred $112,829 in consulting fees provided by a company controlled by a former director of the Company.

At October 31, 2012, amounts owed to related parties totaled $13,997 (July 31, 2012: $47,443). These amounts are unsecured, non-interest bearing and due on demand.