Stockholders' Equity (Tables)

3 Months Ended

Oct. 31, 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 three months ended October 31, 2016 and 2015 were as follows:

	2016			2015
Market value of stock on measurement date	$	7.52 to 8.71		$	7.00
Risk-free interest rate		0.88-1.75	%		2.05	%
Dividend yield		0	%		0	%
Volatility factor		114-348	%		373	%
Term		3.03-10.00 years			10 years

Schedule of Options and Warrants Outstanding

Stock option activity for three months ended October 31, 2016 and 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, 2016		4,635,000		8.79		7.39		2,731,250
Granted		50,000		10.00
Outstanding at October 31, 2016		4,685,000		8.80		7.16	$	2,053,125
Exercisable at October 31, 2016		4,285,833		8.37		7.56	$	2,053,125

Warrant activity for the three months ended October 31, 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, 2016		1,215,385	$	17.90		2.86	$	-
Expired		(63,100)		50.00
Outstanding at October 31, 2016		1,152,285	$	16.15		2.76	$	-
Exercisable at October 31, 2016		427,285	$	18.09		5.46	$	-

Schedule of Nonvested Share Activity

A summary of the status of the Company’s non-vested options as of October 31, 2016 and changes during the three months ended October 31, 2016 are presented below:

Non-vested options	Number of Options		Weighted Average Grant Date Fair Value
Non-vested at July 31, 2016		90,833	$	7.27
Granted		50,000		8.50
Vested		(4,167)		5.64
Non-vested at October 31, 2016		136,666	$	7.83