Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
3 Months Ended 57 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Oct. 31, 2012
Expenses:      
Research and development $ 1,180,974 $ 515,587 $ 4,094,140
General and administrative 816,502 678,651 5,194,043
Loss from operations (1,997,476) (1,194,238) (9,288,183)
Other income (expense):      
Fair value of derivative liabilities in excess of proceeds     (808,590)
Adjustments to fair value of derivative liabilities   3,977,418 3,150,985
Loss on extinguishment of debt     (761,492)
Financing transaction costs     (210,000)
Non-cash interest expense (27,449) (69,134) (294,016)
Interest expense     (1,357)
Impairment charges     (9,000)
Net income (loss) before income taxes (2,024,925) 2,714,046 (8,221,653)
Provision for income taxes 2,000 2,000 6,000
Net incomes (loss) $ (2,026,925) $ 2,712,046 $ (8,227,653)
Basic net income (loss) per common share (in dollars per share) $ (0.02) $ 0.05  
Diluted net income (loss) per common share (in dollars per share) $ (0.02) $ 0.05  
Weighted average shares used in computing basic net income (loss) per common share (in shares) 87,892,196 56,856,000  
Weighted average shares used in computing diluted net income (loss) per common share (in shares) 87,892,196 56,905,457