WARRANTS

3 Months Ended

Oct. 31, 2013

WARRANTS [Text Block]

NOTE G - WARRANTS

The Company issued 1,666,666 warrants on August 23, 2013 and an additional 100,000 warrants on September 4, 2013. The aggregate fair value of the warrants totaled $244,029 based on the Black Sholes Merton pricing model using the following estimates: . 68% risk free rate, 175% volatility and expected life of the warrants of 3 years.

A summary of the status of the Company's outstanding stock warrants as of October 31, 2013 and changes during the period is presented below:

			Weighted
	Warrant		Average Price
Outstanding, July 31, 2013	-	$	-
Issued	1,766,666	$	0.40
Exercised	-
Forfeited	-
Expired	-
Outstanding, October 31, 2013	1,766,666	$	0.40
Exercisable, October 31, 2013	1,766,666	$	0.40

	Outstanding				Exercisable
	Number	Weighted		Weighted	Number		Weighted
Range of	Outstanding at	Average		Average Exercise	Exercisable at		Average Exercise
Exercise Prices	10/31/2013	Remaining		Price	10/31/2013		Price
$0.40	1,766,666	3 years	$	0.40	1,766,666	$	0.40