XML 27 R18.htm IDEA: XBRL DOCUMENT v3.3.1.900
Subsequent Events
6 Months Ended
Jan. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Note 12 – Subsequent Events
 
Management of the Company performed an evaluation of all subsequent events that occurred as of the date these financial statements were issued to determine if they must be reported. Management of the Company has determined that the following subsequent events are required to be disclosed:
 
On December 3, 2015 the President of the Company was terminated.
 
In February and March, 2016, three convertible notes with a total aggregate of $84,014 of principle and accrued interest matured and became due and now are in default. Currently, the Company is in negotiation with these three note holders regarding amended terms.
 
During the period from February 1, 2016 to March 17, 2016, three lenders converted an aggregate of $187,058 of principle and accrued interest owed under certain convertible note agreements into 6,561,251 shares of the Company's common stock. The notes were converted at a discount to the trading price of the common stock in accordance with the conversion terms under the different notes disclosed in Note 10.