Stockholders' Equity (Tables)

6 Months Ended

Jan. 31, 2017

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 six months ended January 31, 2017 and 2016 were as follows:

	2017			2016
Market value of stock on measurement date	$	5.61 to 8.71		$	7.00
Risk-free interest rate		0.88-2.55	%		2.05	%
Dividend yield		0	%		0	%
Volatility factor		112-348	%		373	%
Term		2.78-10.00 years			10 years

Schedule of Options and Warrants Outstanding

Stock option activity for six months ended January 31, 2017 is presented in the table below:

					Weighted-
					average
			Weighted-		Remaining
			average		Contractual		Aggregate
	Number of		Exercise		Term		Intrinsic
	Shares		Price		(years)		Value
Outstanding at July 31, 2016		4,635,000		8.79		7.39	$	2,731,250
Granted		120,000		10.00
Outstanding at January 31, 2017		4,755,000		8.82		6.92	$	4,243,250
Exercisable at January 31, 2017		4,330,136		8.39		7.28	$	4,243,250

Warrant activity for the six months ended January 31, 2017 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 January 31, 2017		1,152,285	$	16.15		2.50	$	13,580
Exercisable at January 31, 2017		427,285	$	18.09		5.21	$	13,580

Schedule of Nonvested Share Activity

A summary of the status of the Company’s non-vested options as of January 31, 2017 and changes during the three months ended January 31, 2017 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		120,000		7.20
Vested		(48,470)		7.10
Non-vested at January 31, 2017		162,363	$	7.30