XML 31 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fair Value of Financial Instruments (Tables)
12 Months Ended
Jul. 31, 2012
Fair Value of Financial Instruments  
Schedule of estimated fair values of the liabilities measured on a recurring basis

 

 

 

 

Balance at July,
31, 2011

 

Quoted Prices in
Active Markets
(Level 1)

 

Significant Other
Observable Inputs
(Level 2)

 

Significant Other
Unobservable
Inputs (Level 3)

 

Warrant derivative liability — Series A and Series C Warrants

 

$

4,850,385

 

—

 

—

 

$

4,850,385

 

Schedule of activity for liabilities measured at estimated fair value using unobservable inputs

 

 

 

 

Warrant Derivative Liability

 

Beginning balance at July 31, 2011

 

$

4,850,385

 

 

 

 

 

Issuances

 

—

 

 

 

 

 

Adjustments to estimated fair value

 

(4,192,781

)

 

 

 

 

Re-classification of fair value to equity (see Note 7)

 

(657,604

)

 

 

 

 

Ending balance at July 31, 2012

 

$

—