SUPPLEMENTAL CASH FLOW INFORMATION

3 Months Ended

Oct. 31, 2015

SUPPLEMENTAL CASH FLOW INFORMATION [Text Block]

NOTE 12: SUPPLEMENTAL CASH FLOW INFORMATION

During the three months ended October 31, 2015 and 2014, the Company issued 274,982 and 254,171 restricted shares of common stock with a fair value of $305,595 and $330,331, respectively, for consulting services.

During the three months ended October 31, 2015, the Company issued 33,315 shares of common stock with a fair value of $35,264 as compensation to an employee and a consultant of the Company under the 2015 Plan.

During the three months ended October 31, 2015 and 2014, the Company paid $408,889 and $408,889, respectively, in cash for interest on the long-term debt.