DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2015

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

NOTE 7: DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

During Fiscal 2015, the Company incurred $148,602 (Fiscal 2014: $152,090 ; Fiscal 2013: $176,099) in general and administrative costs paid to a company controlled by a direct family member of a current officer. Additionally, the Company issued 15,000 restricted shares of common stock to this company for consulting services with a fair value of $18,150 also included in general and administrative costs.

During Fiscal 2014, the Company incurred $33,000 (Fiscal 2013: $36,000) in consulting fees paid to a company controlled by a former director of the Company.

At July 31, 2015, amounts owed to related parties totaled $14,660 (July 31, 2014: $11,234). These amounts are unsecured, non-interest bearing and due on demand.