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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Oct. 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: 
 
 
 
October 31, 2013
 
July 31, 2013
 
 
 
Carrying 
amount
 
Fair value
 
Carrying 
amount
 
Fair value
 
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
537,205
 
$
537,205
 
$
596,871
 
$
596,871
 
Accounts receivable
 
 
0
 
 
0
 
$
191,835
 
$
191,835
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
 
$
49,633
 
$
49,633
 
$
62,810
 
$
62,810
 
Auto loan
 
$
84,230
 
$
82,004
 
 
0
 
 
0
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
 
 
 
October 31, 
2013
 
Quoted prices 
in active 
markets for 
identical 
assets  
(Level 1)
 
Significant 
other 
observable 
inputs 
(Level 2)
 
Significant 
unobservable 
inputs 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
Notes payable
 
84,230
 
 
 
 
 
82,004
 
 
 
 
 
 
Fair value measurements at
reporting date using
 
 
 
July 31, 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