Stockholders' Equity (Tables)

9 Months Ended

Apr. 30, 2016

Stockholders' Equity Note [Abstract]

Schedule of Assumptions Used in the Valuation

The assumptions used in the valuation for all of the options granted for the nine months ended April 30, 2016 were as follows:

Market value of stock on measurement date	$	7.00
Risk-free interest rate		2.05	%
Dividend yield		0	%
Volatility factor		373	%
Term		10 years

Schedule of Options and Warrants Outstanding

Stock option activity for nine months ended April 30, 2016 is presented in the table below:

	Number of Shares		Weighted- average Exercise Price		Weighted- average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at July 31, 2015		3,157,500	$	9.42	$	7.58
Granted		1,437,500		7.25
Exercised		(30,000)		5.00
Outstanding at April 30, 2016		4,565,000	$	8.77	$	7.68	$	5,969,725
Exercisable at April 30, 2016		4,277,500	$	8.37	$	8.07	$	5,969,725

Warrant activity for the nine months ended April 30, 2016 is presented in the table below:

	Number of Shares		Weighted- average Exercise Price		Weighted- average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at July 31, 2015		1,338,552	$	19.53		3.55	$	–
Issued		–				–		–
Expired		(119,767)		35.14		–		–
Outstanding at April 30, 2016		1,218,785	$	17.99		3.11	$	34,144
Exercisable at April 30, 2016		493,785	$	22.39		5.22	$	34,144

Schedule of Nonvested Share Activity

A summary of the status of the Company’s non-vested options as of April 30, 2016 and changes during the nine months ended April 30, 2016 are presented below:

Non-vested options	Number of Options		Weighted Average Grant Date Fair Value
Non-vested at July 31, 2015		37,500	$	3.85
Granted		1,437,500		7.00
Vested		(1,450,000)		7.01
Non-vested at April 30, 2016		25,000	$	3.85