Property and Equipment

3 Months Ended

Oct. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 – Property and Equipment

Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the following estimated useful lives of the assets: furniture and fixtures –seven years; machinery and equipment –five years; software – five years; leasehold improvements –the life of the current facility lease. Major additions and betterments are capitalized and repairs and maintenance are charged to operations in the period incurred. Depreciation expense for the three months ended October 31, 2013 and 2012 was $4,134 and $1,544, respectively.

	October 31, 2013		July 31, 2013
Furniture and fixture	$	27,634	$	27,634
Machinery and equipment		26,305		26,305
Software		359,417		359,417
Leasehold Improvements		5,985		5,985
Vehicle		105,278		-
		524,619		419,341
Accumulated depreciation		(408,274)		(404,140)
Property and equipment, net	$	116,345	$	15,201

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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