BASIC AND DILUTED LOSS PER SHARE (Tables)

9 Months Ended

Apr. 30, 2014

Basic and Diluted Loss Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Potential common shares not included in calculating diluted net loss per share are as follows:

	April 30, 2014	April 30, 2013
Stock options	538,750	653,750
Series C Preferred Stock	1,551,200	1,551,200
Series D Preferred Stock	13,975,000	13,975,000
Total	16,064,950	16,179,950