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3. Related Party Transactions
9 Months Ended
Apr. 30, 2012
Related Party Transactions Disclosure [Text Block]
3.  Related Party Transactions

The Company’s former Chief Executive Officer and now its Chief Financial Officer has advanced funds to the Company for working capital needs in the amount of $126,412.  The amounts were non-interest bearing, unsecured, with no stated terms or repayment.

Prior to fiscal 2009, and though the date of the Belmont Agreement (See Note 8), a former officer of the Company advanced funds to the Company for working capital needs.  The amounts were non-interest bearing, unsecured, with no stated terms or repayment.  Concurrent with the Belmont Agreement, the former officer forgave the advances aggregating $28,816.