REVENUE RECOGNITION

3 Months Ended

Oct. 31, 2013

REVENUE RECOGNITION [Abstract]

REVENUE RECOGNITION

NOTE 4 - REVENUE RECOGNITION

The Company has treated the sub-license agreement as a sale, with recognition of equal monthly amounts over a period ending December, 2013, when the project will either continue under the license fee agreement or all rights will terminate.  During the three months ended October 31, 2013 this has resulted in revenue recognition of $ 12,000 and revenue deferral of $ 4,000.  The license sale is for a one year period ending August 15, 2014 and is renewable annually for nominal payments for twenty years.