Subsequent Events

3 Months Ended

Oct. 31, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 11 – Subsequent Events

Management has evaluated all events that occurred after the balance sheet date through the date when these financial statements were issued to determine if they must be reported. The Management of the Company has determined that there was a reportable subsequent event to be disclosed as follows:

On December 1, 2013 (the “Effective Date”), the Company entered into in an Amended and Restated Employment Agreement (the “Agreement”) with John Hwang as Chief Executive Officer, which provides for a three year term initially commencing on the Effective Date and subject to automatic one year renewals thereafter unless the Agreement is terminated in accordance with its terms. Pursuant to the terms of the Agreement, Mr. Hwang shall receive an issuance of 2,950,000 shares of the Company’s Series A Convertible Stock, par value $0.001 per share, as well as an annual base salary of $264,000.00. Mr. Hwang will also be eligible for annual cash incentive compensation as determined by the Company’s Compensation Committee.