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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jul. 31, 2013
Accounting Policies [Abstract]  
Schedule of Carrying Amounts and Estimated Fair Values [Table Text Block]
The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at:
 
 
 
2013
 
2012
 
 
 
Carrying 
amount
 
Fair value
 
Carrying 
amount
 
Fair value
 
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
596,871
 
$
596,871
 
$
249,327
 
$
249,327
 
Accounts receivable
 
$
191,835
 
$
191,835
 
$
215,921
 
$
215,921
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
 
$
62,809
 
$
62,809
 
$
143,230
 
$
143,230
 
Notes payable
 
 
0
 
 
0
 
$
55,000
 
$
54,045
 
Schedule of Fair Value Hierarchy of Assets and Liabilities [Table Text Block]
The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis at :
 
 
 
 
 
 
Fair value measurements at 
reporting date using
 
 
 
2013
 
Quoted prices in 
active markets 
for identical 
assets 
(Level 1)
 
Significant 
other 
observable 
inputs 
(Level 2)
 
Significant 
unobservable
inputs
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes payable
 
 
0
 
 
 
 
 
 
 
 
0
 
 
 
 
 
 
 
 
Fair value measurements at 
reporting date using
 
 
 
2012
 
Quoted prices in 
active 
markets for 
identical assets 
(Level 1)
 
Significant 
other 
observable 
inputs 
(Level 2)
 
Significant 
unobservable 
inputs 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes payable
 
$
55,000
 
 
 
 
 
 
 
$
54,045