|
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
|
6 Months Ended |
|
Jan. 31, 2012
|
Jan. 31, 2011
|
| Operating activities: |
|
|
| Net income (loss) |
$ (8,162,686) |
$ 433,552 |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Depreciation, depletion and amortization |
419,679 |
427,243 |
| Loss on sale of fixed asset |
3,876,922 |
|
| Gain on sale of licensing rights |
|
(500,000) |
| (Gain) Loss on valuation of derivative liability |
(306,932) |
0 |
| Stock and warrants issued for services |
60,900 |
160,572 |
| Amortization of stock and options issued for services |
2,102,055 |
76,875 |
| Change in accounts receivable |
1,439,770 |
(2,310,978) |
| Change in Accts. Rec - government incentives |
2,766,123 |
|
| Change in inventory |
861,239 |
(299,388) |
| Change in prepaid expenses |
952,941 |
|
| Change in accounts payable |
1,279,418 |
(139,097) |
| Change in other assets |
(106,767) |
(11,962) |
| Change in customer deposits |
(2,773,484) |
|
| Change in other liabilities |
|
2,048,200 |
| Change in accrued expenses |
(241,697) |
806,458 |
| Net cash provided by (used in) operating activities |
2,167,481 |
691,475 |
| Investing activities: |
|
|
| Purchase of fixed assets |
(680,101) |
(355,474) |
| Loans made (payments received) to related parties, net |
339,429 |
|
| Proceeds of sale of assets |
100 |
275,000 |
| Net cash provided by (used in) investing activities |
(340,572) |
(80,474) |
| Financing activities: |
|
|
| Purchase of treasury stock |
(2,000,000) |
|
| Payments on notes payable |
(3,510,221) |
(592,383) |
| Proceeds from notes payable-related party |
|
9,712 |
| Sale of common stock, net of expenses |
2,921,576 |
|
| Net cash provided by (used in) financing activities |
(2,588,645) |
(582,671) |
| Net change in cash and cash equivalents |
(761,736) |
28,330 |
| Cash and cash equivalents, beginning of year |
900,883 |
28,525 |
| Cash and cash equivalents, end of year |
139,147 |
56,855 |
| Cash paid during the period for: |
|
|
| Interest |
1,446,640 |
357,405 |
| Income taxes |
|
|
| Supplemental schedule of non-cash investing and financing: |
|
|
| Options exercised for notes and accounts payable |
|
60,000 |
|
Prepaid Expenses
|
|
|
| Supplemental schedule of non-cash investing and financing: |
|
|
| Stock and warrants issued |
1,066,817 |
|
|
Services
|
|
|
| Supplemental schedule of non-cash investing and financing: |
|
|
| Stock and warrants issued |
60,900 |
160,572 |
|
Fixed Assets
|
|
|
| Supplemental schedule of non-cash investing and financing: |
|
|
| Note payable issued |
|
479,424 |
|
Noncompete Agreements
|
|
|
| Supplemental schedule of non-cash investing and financing: |
|
|
| Note payable issued |
$ 1,200,000 |
$ 0 |