|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Jul. 31, 2012
|
Jul. 31, 2011
|
| ASSETS |
|
|
| Cash and cash equivalents |
$ 249,327 |
$ 524,512 |
| Accounts receivable, net of allowance for doubtful accounts of $509 and $9,329 as of July 31, 2012 and 2011, respectively |
215,921 |
139,853 |
| Inventory, net of reserve balances of $41,192 and $37,814 as of July 31, 2012 and 2011, respectively |
178,104 |
113,770 |
| Prepaid expenses and other current assets |
115,399 |
26,063 |
| Total current assets |
758,751 |
804,198 |
| Property and equipment, net |
20,313 |
25,641 |
| Deposit |
20,695 |
20,695 |
| Total assets |
799,759 |
850,534 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
| Accounts payable and accrued liabilities |
71,891 |
47,094 |
| Accounts payable - other |
71,339 |
47,582 |
| Deferred revenue |
595,004 |
12,164 |
| Line of credit payable |
0 |
290,000 |
| Notes payable - current portion |
55,000 |
60,000 |
| Total current liabilities |
793,234 |
456,840 |
| Notes payable, net of current |
0 |
55,000 |
| Total liabilities |
793,234 |
511,840 |
| Commitment and contingency (Note 4) |
|
|
| Stockholders' equity: |
|
|
| Common stock, $0.008 par value; 125,000,000 shares authorized; 9,790,760 and 6,572,475 shares issued and outstanding at July 31, 2012 and July 31, 2011, respectively |
78,323 |
52,577 |
| Additional paid in capital |
11,401,458 |
11,170,697 |
| Accumulated deficit |
(11,482,406) |
(10,896,580) |
| Total stockholders' equity |
6,525 |
338,694 |
| Total liabilities and stockholders' equity |
799,759 |
850,534 |
|
Series A Preferred Stock [Member]
|
|
|
| Stockholders' equity: |
|
|
| Preferred stock |
7,050 |
9,400 |
|
Series B Preferred Stock [Member]
|
|
|
| Stockholders' equity: |
|
|
| Preferred stock |
$ 2,100 |
$ 2,600 |