Stockholders' Equity (Tables)

9 Months Ended

Apr. 30, 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 nine months ended April 30, 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		97-348	%		373	%
Term		2.53-10.00 years			10 years

Schedule of Options and Warrants Outstanding

Stock option activity for nine months ended April 30, 2017 is presented in the table below:

					Weighted-
			Weighted-		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contractual		Intrinsic
	Shares		Price		Term (Years)		Value
Outstanding at July 31, 2016		4,635,000	$	8.79		7.39	$	2,731,250
Granted		320,000	$	9.38
Expired		(2,500)	$	10.00
Forfeited		(1,180,000)	$	11.03
Outstanding at April 30, 2017		3,772,500	$	8.13		7.12	$	975,000
Exercisable at April 30, 2017		3,303,882	$	7.75		7.21	$	975,000

Warrant activity for the nine months ended April 30, 2017 is presented in the table below:

					Weighted-
			Weighted-		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contractual		Intrinsic
	Shares		Price		Term (Years)		Value
Outstanding at July 31, 2016		1,215,385	$	17.90		2.86	$	-
Granted		45,000	$	10.00
Expired		(162,300)	$	47.23
Forfeited		(325,000)	$	15.00
Outstanding at April 30, 2017		773,085	$	12.51		3.27	$	-
Exercisable at April 30, 2017		373,085	$	9.84		6.06	$	-

Schedule of Nonvested Share Activity

Non-vested options

			Weighted Average
	Number of		Grant Date Fair
	Options		Value
Non-vested at July 31, 2016		90,833	$	7.27
Granted		320,000	$	7.70
Vested		(59,717)	$	6.93
Non-vested at April 30, 2017		351,116	$	7.73