Stockholders' Equity (Tables)

12 Months Ended

Jul. 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 years ended July 31, 2017 and 2016 are as follows:

	2017			2016
Market value of stock on measurement date	$	5.61 to 13.00		$	7.00 to 10.00
Risk-free interest rate		0.88-2.55	%		0.71-2.05	%
Dividend yield		0	%		0	%
Volatility factor		76-348	%		124-373	%
Term		2.28-10 years			3-10 years

Schedule of Options and Warrants Outstanding

Stock option activity for the years ended July 31, 2017 and 2016 are presented in the table below:

	Number of Options		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		1,507,500	$	7.38
Exercised		(30,000)	$	5.00
Outstanding at July 31, 2016		4,635,000	$	8.79		7.39	$	2,731,250
Granted		320,000	$	9.38
Expired		(5,000)	$	10.00
Forfeited		(1,180,000)	$	11.03
Outstanding at July 31, 2017		3,770,000	$	8.13		6.87	$	19,139,625
Exercisable at July 31, 2017		3,312,629	$	7.76		6.96	$	17,925,016

Warrant activity for the fiscal years ended July 31, 2017 and 2016 is presented in the table below:

	Number of Warrants		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	$	-
Expired		(123,167)	$	35.55		-		-
Outstanding at July 31, 2016		1,215,385	$	17.90		2.86		-
Granted		45,000	$	10.00			$	-
Expired		(166,585)	$	46.37		-		-
Forfeited		(325,000)	$	15.00
Outstanding at July 31, 2017		768,800	$	12.50		3.04	$	1,184,000
Exercisable at July 31, 2017		368,800	$	9.79		5.88	$	1,184,000

Schedule of Nonvested Share Activity

A summary of the status of the Company’s non-vested options as of July 31, 2017 and changes during the fiscal years ended July 31, 2017 and 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		1,507,500	$	7.06
Vested		(1,454,167)	$	7.00
Non-vested at July 31, 2016		90,833	$	7.27
Granted		320,000	$	7.70
Vested		(70,962)	$	6.70
Non-vested at July 31, 2017		339,871	$	7.93