Commitment and Contingencies

3 Months Ended

Oct. 31, 2011

Commitment and Contingencies

Commitments and Contingencies Disclosure [Text Block]

NOTE 11-COMMITMENTS AND CONTIGENCIES

On August 25, 2011, Qufu Natural Green Engineering Co., Ltd. entered into an agreement with Qufu Jinxuan Real Estate Development Co., Ltd., an unaffiliated third party, to purchase thirty apartment units in China for use by certain employees. The total area of the apartment complex units is 41,979 square feet, with 6,458 square feet of storage area for a total purchase price of RMB15,120,000 (approximately $2,390,325) (the “Purchase Price”). Under the terms of the agreement, the apartment units are expected to be delivered by December 30, 2012. We prepaid 30% of the Purchase Price, approximately $717,097, upon signing the agreement on August 25, 2011. An additional 50% of the Purchase Price, or approximately $1,195,162, will be due in December of 2011, with the balance, or approximately $478,066, upon completion of the ownership documents and transfer of the apartment units to us.