LOSS PER SHARE

12 Months Ended

Jul. 31, 2015

LOSS PER SHARE [Text Block]

NOTE 11: LOSS PER SHARE

The following table reconciles the weighted average number of shares used in the computation of basic and diluted loss per share for Fiscal 2015, 2014 and 2013:

		Year Ended July 31,
		2015			2014			2013
Numerator
Net Loss for the Year	$	(23,361,928	)	$	(25,975,107	)	$	(21,863,091	)
Denominator
Basic Weighted Average Number of Shares		92,397,547			89,136,505			85,380,412
Dilutive Stock Options and Warrants		-			-			-
Diluted Weighted Average Number of Shares		92,397,547			89,136,505			85,380,412
Net Loss per Share, Basic and Diluted	$	(0.25	)	$	(0.29	)	$	(0.26	)

For Fiscal 2015, 2014 and 2013, all outstanding stock options and share purchase warrants were excluded from the computation of diluted loss per share since the Company reported net losses for those periods and their effects would be anti-dilutive.