Stock-Based Compensation (Tables)

9 Months Ended

12 Months Ended

Apr. 30, 2013

Jul. 31, 2012

Stock-Based Compensation

Schedule of assumptions used to calculate fair value of share based compensation

	April 30, 2013	April 30, 2012
Expected volatility	81.92% - 97.85%	85.96 - 125.00%
Risk-free interest rate	0.31% - 1.97%	0.82 - 2.08%
Expected forfeiture rate	0.00%	0.00%
Expected dividend yield	—	—
Expected term	3 - 10 years	5 - 10 years

Summary of stock option activity

	Option Shares Outstanding		Weighted-Average Exercise Price		Aggregate Intrinsic Value ($000’s)
Balance at July 31, 2012	3,175,000		$	0.24	$	24
Granted	2,200,000		0.21		165
Exercised	(750,000	)	0.18		50
Forfeited / Cancelled	(273,500	)	0.33		—
Balance at April 30, 2013	4,351,500		$	0.23	$	275

	Option Shares Outstanding		Weighted-Average Exercise Price		Aggregate Intrinsic Value ($000’s)
Balance at July 31, 2011	—		—		$	—
Granted	3,260,000		$	0.24
Exercised	—		—
Forfeited / Cancelled	(85,000	)	0.40		—
Balance at July 31, 2012	3,175,000		$	0.24	$	24

Schedule of stock options activity by range of exercise prices

Range of Exercise Prices		Number of Shares Outstanding	Weighted Average Contractual Life (in years)	Weighted Average Exercise Price		Number Of Shares Exercisable	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price
$	0.18 - 0.42	4,351,500	6.94	$	0.23	3,060,699	5.85	$	0.22

Range of Exercise Prices		Number of Shares Outstanding	Weighted Average Contractual Life (in years)	Weighted Average Exercise Price	Number Of Shares Exercisable	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price
$	0.18 - 0.40	3,175,000	7.53	0.24	1,962,500	6.24	$	0.23