Annual report pursuant to section 13 and 15(d)

Income Taxes (Details 3)

v2.4.0.6
Income Taxes (Details 3) (USD $)
12 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Significant components of the deferred tax assets    
Net operating loss carryforwards $ 1,986,000 $ 207,000
Credits 124,000 31,000
Start-up costs 72,000 74,000
Accumulated Depreciation 282,000 71,000
Other 129,000 11,000
Net deferred tax assets 2,593,000 394,000
Valuation allowance for deferred tax assets $ (2,593,000) $ (394,000)
Reconciliation of incomes taxes using statutory income tax rate, compared to effective rate    
Federal tax benefit at the expected statutory rate (as a percent) 34.00% 34.00%
State income tax, net of federal tax benefit (as a percent) (0.07%) (3.08%)
Loss on extinguishment of debt (11.48%)  
Adjustment to fair value of derivative liabilities 63.20% (18.64%)
Non-deductible expenses (as a percent) (6.63%) (0.45%)
Change in valuation allowance (as a percent) (81.58%) (9.93%)
Other (as a percent) 2.45% (1.92%)
Income tax benefit - effective rate (as a percent) (0.11%) (0.02%)