Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
3 Months Ended 6 Months Ended 48 Months Ended
Jan. 31, 2012
Jan. 31, 2011
Jan. 31, 2012
Jan. 31, 2011
Jan. 31, 2012
Revenue $ 0   $ 0    
Expenses:          
Research and development 508,406   1,023,993   1,708,664
General and administrative 671,923 4,346 1,350,574 6,796 2,429,437
Loss from operations (1,180,329) (4,346) (2,374,567) (6,796) (4,138,101)
Other income (expense):          
Fair value of derivative liabilities in excess of proceeds         (808,590)
Adjustments to fair value of derivative liabilities (1,397,967)   2,579,451   1,537,656
Financing transaction costs         (210,000)
Non-cash interest expense (93,168)   (162,302)   (162,302)
Interest expense         (1,357)
Impairment charges         (9,000)
Net income (loss) before income taxes (2,671,464) (4,346) 42,582 (6,796) (3,791,694)
Provision for income taxes 400   2,400   4,000
Net income (loss) $ (2,671,864) $ (4,346) $ 40,182 $ (6,796) $ (3,795,694)
Basic net income (loss) per common share (in dollars per share) $ (0.05) $ 0.00 $ 0.00 $ 0.00  
Diluted net income (loss) per common share (in dollars per share) $ (0.05) $ 0.00 $ 0.00 $ 0.00  
Weighted average shares used in computing basic net income (loss) per common share (in shares) 56,856,000 68,480,000 56,856,000 68,480,000  
Weighted average shares used in computing diluted net income (loss) per common share (in shares) 56,856,000 68,480,000 57,020,251 68,480,000