Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jan. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Schedule of Fair Value Measurements

The following table presents the derivative financial instruments, the Company's only financial liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis, and their level within the fair value hierarchy as of July 31, 2013:

	Amount		Level 1		Level 2		Level 3
Embedded conversion derivative liability	$	9,666	$	-	$	-	$	9,666
Warrant derivative liabilities		-		-		-		-
Total	$	9,666	$	-	$	-	$	9,666

Summary of Changes in Fair Value

The following table provides a summary of the changes in fair value, including net transfers in and/or out, of the derivative financial instruments, measured at fair value on a recurring basis using significant unobservable inputs:

Balance at July 31, 2013	$	9,666
Fair value of warrant derivative liabilities at issuance		469,841
Settlement of derivative liability		(506,574	)
Unrealized derivative loss included in other expense		27,067
Balance at January 31, 2014	$	-

Schedule of Assumptions Used to Value Warrants

The derivative warrants were valued using the Black Scholes option pricing model using the following assumptions:

	At settlement dates			July 31, 2013
Market value of stock on measurement date	$	0.043 - $0.05		$	0.0289
Risk-free interest rate		0.77 - 0.96	%		0.11	%
Dividend yield		0	%		0	%
Volatility factor		169 - 217	%		76.9	%
Term		2.8 - 3.9 years			0.493 years