Annual report pursuant to section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jul. 31, 2013
Jul. 31, 2012
Current assets    
Cash and cash equivalents $ 4,970,175 $ 5,141,509
Prepaid expenses 186,984 343,180
Other current assets 12,528 8,367
Total Current Assets 5,169,687 5,493,056
Property and equipment, net 151,625 76,911
Intangible assets, net 1,161,731 1,858,770
Other long-term assets 26,685  
Total Assets 6,509,728 7,428,737
Current liabilities    
Accounts payable and accrued liabilities 729,085 384,321
Accrued compensation   218,849
Accrued income taxes 1,600 3,200
Acquisition obligation, current 979,316 1,416,786
Accrued other 60,603  
Total Current Liabilities 1,770,604 2,023,156
Acquisition obligation, net of current portion   979,316
Total Liabilities 1,770,604 3,002,472
Stockholders' Equity    
Common stock authorized - 3,200,000,000 common shares with a par value of $0.0001, common stock issued and outstanding - 118,014,224 and 87,856,000 common shares as of July 31, 2013 and July 31, 2012, respectively 11,802 8,786
Additional paid-in capital 11,467,139 5,593,567
Warrants issued and outstanding - 57,644,276 and 42,246,000 warrants as of July 31, 2013 and July 31, 2012, respectively 6,611,098 5,024,640
Deficit accumulated during the development stage (13,350,915) (6,200,728)
Total Stockholders' Equity 4,739,124 4,426,265
Total Liabilities and Stockholders' Equity $ 6,509,728 $ 7,428,737