Property and Equipment

9 Months Ended

Apr. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 8 – Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. 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 and the nine months ended April 30, 2015 and 2014 was $11,054 and $6,488, $28,870 and $17,675, respectively. The assets under capital leases as of April 30, 2015 and July 31, 2014 were $97,649 and $0, respectively. Accumulated depreciation related to assets under capital leases as of these dates was $9,914 and $0, respectively.

	April 30, 2015		July 31, 2014
Furniture and fixture	$	27,634	$	27,634
Machinery and equipment		125,190		27,540
Software		359,417		359,417
Leasehold Improvements		5,985		5,985
Vehicle		105,278		105,278
		623,504		525,854
Accumulated depreciation		(457,161)		(428,291)
Property and equipment, net	$	166,343	$	97,563