LOSS PER COMMON SHARE

3 Months Ended

Oct. 31, 2013

LOSS PER COMMON SHARE [Text Block]

NOTE 11: LOSS PER COMMON SHARE

The following table reconciles weighted average common shares used in the computation of basic and diluted loss per share for the three months ended October 31, 2013 and 2012.

		Three Months Ended October 31,
Numerator		2013			2012
Net Loss for the Period	$	(5,879,934	)	$	(7,297,623	)
Denominator
Basic Weighted Average Number of Shares		86,429,172			85,172,927
Dilutive Stock Options and Warrants		-			-
Diluted Weighted Average Number of Shares		86,429,172			85,172,927
Net Loss per Share, Basic and Diluted	$	(0.07	)	$	(0.09	)

For the three months ended October 31, 2013 and 2012, total options and share purchase warrants to purchase 13,829,010 and 10,906,333 shares of our common stock, respectively, were excluded from the computation of diluted loss per shares since we incurred a loss and effect of inclusion is anti-dilutive.