|
Income Taxes (Details 3) (USD $)
|
12 Months Ended | |
|---|---|---|
|
Jul. 31, 2012
|
Jul. 31, 2011
|
|
| Significant components of the deferred tax assets | ||
| Net operating loss carryforwards | $ 1,986,000 | $ 207,000 |
| Credits | 124,000 | 31,000 |
| Start-up costs | 72,000 | 74,000 |
| Accumulated Depreciation | 282,000 | 71,000 |
| Other | 129,000 | 11,000 |
| Net deferred tax assets | 2,593,000 | 394,000 |
| Valuation allowance for deferred tax assets | $ (2,593,000) | $ (394,000) |
| Reconciliation of incomes taxes using statutory income tax rate, compared to effective rate | ||
| Federal tax benefit at the expected statutory rate (as a percent) | 34.00% | 34.00% |
| State income tax, net of federal tax benefit (as a percent) | (0.07%) | (3.08%) |
| Loss on extinguishment of debt | (11.48%) | |
| Adjustment to fair value of derivative liabilities | 63.20% | (18.64%) |
| Non-deductible expenses (as a percent) | (6.63%) | (0.45%) |
| Change in valuation allowance (as a percent) | (81.58%) | (9.93%) |
| Other (as a percent) | 2.45% | (1.92%) |
| Income tax benefit - effective rate (as a percent) | (0.11%) | (0.02%) |