Fair Value of Financial Instruments (Tables)

12 Months Ended

Jul. 31, 2015

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

	Fair Value Measurements at July 31, 2015
	Total		Level 1		Level 2		Level 3

Derivative liabilities	$	881,993		—		—	$	881,993

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows:

	Derivative Liability
Balance at August 1, 2014	$	-
Issuance		626,018
Reduction upon conversion to common stock		(77,643)
Change in fair value recorded in other income (expense), net		333,618
Balance at July 31, 2015	$	881,993