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GOING CONCERN
3 Months Ended
Oct. 31, 2011
Going Concern [Abstract]  
Going Concern [Text Block]
NOTE 2 – GOING CONCERN
 
These financial statements have been prepared on a going concern basis, which implies Prime Estates will continue to meet its obligations and continue its operations for the next fiscal year.  Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should Prime Estates be unable to continue as a going concern.

The Company had incurred losses and has a working capital deficit as of October 31, 2011; these factors among others raise substantial doubt about the Company’s ability to continue as a going concern.

The Company intends to acquire and operate commercial real estate but will require capital to do so.  There is no guarantee that we will be able to raise the capital necessary to make our acquisitions or if, upon acquiring properties, we will be able to generate positive cash flows from operations.  These factors raise substantial doubt regarding Prime Estates’ ability to continue as a going concern.