Generex Biotechnology (GNBTQ) 10-Q 22 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jan. 31, 2016	Jun. 21, 2016
Document And Entity Information
Entity Registrant Name	GENEREX BIOTECHNOLOGY CORP
Entity Central Index Key	1,059,784
Document Type	10-Q
Document Period End Date	Jan. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		903,333,142
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Current Assets:
Cash and cash equivalents	$ 31,768	$ 749,965
Other current assets	5,176	51,240
Total Current Assets	36,944	801,205
Property and Equipment, Net	1,938	2,869
Patents, Net	1,305,326	1,430,016
TOTAL ASSETS	1,344,208	2,234,090
Current Liabilities:
Accounts payable and accrued expenses (Note 4)	8,537,216	8,018,833
Total Current Liabilities	8,537,216	8,018,833
Derivative Warrant Liability (Note 7 and 8)	2,332,731	2,363,415
Derivative Additional Investment Rights Liability (Note 7 and 8)	276,980	142,662
Total Liabilities	11,146,927	10,524,410
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Common stock, $.001 par value; authorized 2,450,000,000 and 1,500,000,000 shares at January 31, 2016 and July 31, 2015, respectively; 870,325,348 and 825,496,238 issued and outstanding at January 31, 2016 and July 31, 2015, respectively	870,325	825,496
Additional paid-in capital	367,783,224	362,556,710
Accumulated deficit	(374,259,918)	(372,481,263)
Accumulated other comprehensive income	803,650	808,737
Total Stockholders' Deficiency	9,802,719	(8,290,320)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	1,344,208	2,234,090
Series A Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Series B Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Series C Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Series D Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Series E Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Series F Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock
Series G Convertible Preferred Stock
Stockholders' Deficiency (Note 7):
9% Convertible Preferred Stock

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (UNAUDITED) - $ / shares	Jan. 31, 2016	Jul. 31, 2015
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	2,450,000,000	1,500,000,000
Common stock, shares issued	870,325,348	825,496,238
Common stock, shares outstanding	870,325,348	825,496,238
Series A Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	5,500	5,500
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%
Series B Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	2,000	2,000
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%
Series C Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	750	750
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%
Series D Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	750	750
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%
Series E Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	2,450	2,450
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%
Series F Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	4,150	4,150
Convertible preferred stock, shares issued	250	670
Convertible preferred stock, shares outstanding	250	670
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%
Common stock, shares issued	27,999,999
Series G Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Convertible preferred stock, shares authorized	1,000	1,000
Convertible preferred stock, shares issued	500	500
Convertible preferred stock, shares outstanding	500	500
Convertible preferred stock, cumulative percentage of interest	9.00%	9.00%

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Operating Expenses:
Research and development	$ 67,628	$ 222,384	$ 245,198	$ 630,680
General and administrative (Note 4)	89,904	612,763	1,229,913	1,112,936
Total Operating Expenses	157,532	835,147	1,475,111	1,743,616
Operating Loss	(157,532)	(835,147)	(1,475,111)	(1,743,616)
Other Income/(Expense):
Interest income		2		11
Interest expense	(102,187)	(85,468)	(199,910)	(167,202)
Change in fair value of derivative liabilities (Note 8)	212,329	408,697	(103,634)	1,120,675
Gain on extinguishment of debt (Note 4)				(327,839)
Net (loss) / Income	$ (47,390)	$ (511,916)	$ (1,778,655)	$ (462,293)
Net (Loss) Income per Common Share (Note 6) - Basic			$ (0.002)	$ 0.0001
Net (Loss) Income per Common Share - Diluted			$ (0.002)	$ 0.0001
Basic Shares Used to Compute (Loss) / Income per Share (Note 6)	870,325,348	789,848,649	860,225,829	784,906,679
Diluted Shares Used to Compute (Loss) / Income per Share (Note 6)	870,555,584	520,661,184	560,225,829	784,906,679
Other Comprehensive (Loss) / Income
Net (loss) / Income	$ (47,390)	$ (511,916)	$ (1,778,655)	$ (462,293)
Change in foreign currency translation adjustments	(2,152)	27,718	(5,087)	31,235
Comprehensive (Loss) / Income	$ (49,542)	$ (484,198)	$ (1,783,742)	$ (431,058)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Cash Flows From Operating Activities:
Net (loss)	$ (1,778,655)	$ (462,293)
Adjustments to reconcile net (loss) / income to net cash used in operating activities:
Depreciation and amortization	123,106	203,430
Stock compensation expense	27,344
Common stock issued for services rendered	4,500	66,369
Common stock issued as make-whole payments on preferred stock	113,400	58,523
Change in fair value of derivative liabilities	103,634	(1,120,675)
Changes in operating assets and liabilities
Accounts payable and accrued expenses	662,840	(449,930)
Other current assets	45,412	99,764
Net Cash Used in Operating Activities	(698,419)	(1,604,812)
Cash Flows From Investing Activities:
Costs incurred for patents		(46,587)
Net Cash (Used in)/Provided By Investing Activities		(46,587)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	2,952	542
Net Cash Provided by Financing Activities	2,952	542
Effect of Exchange Rates on Cash	(22,729)	(8,765)
Net Decrease in Cash and Cash Equivalents	(718,197)	(1,659,622)
Cash and Cash Equivalents, Beginning of Period	749,965	3,269,489
Cash and Cash Equivalents, End of Period	$ 31,768	$ 1,609,867

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation: The accompanying unaudited interim consolidated financial statements (“interim statements”) have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and disclosures required by generally accepted accounting principles for complete financial statements are not included herein. The interim statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s latest Annual Report on Form 10-K. The results for the six month period ended January 31, 2016 may not be indicative of the results for the entire year. Interim statements are subject to possible adjustments in connection with the annual audit of the Company’s accounts for fiscal year 2016. In the Company’s opinion, all adjustments necessary for a fair presentation of these interim statements have been included and are of a normal and recurring nature. The Company has a limited history of operations and limited revenue to date. The Company has several product candidates that are in various research or early stages of pre-clinical and clinical development. There can be no assurance that the Company will be successful in obtaining regulatory clearance for the sale of existing or any future products or that any of the Company’s products will be commercially viable. Going Concern The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has experienced negative cash flows from operations since inception and has an accumulated deficit of approximately $374 million and a working capital deficiency of approximately $8.5 million at January 31, 2016. The Company has funded its activities to date almost exclusively from debt and equity financings, as well as the sale of non-essential real estate assets in fiscal 2012 through the first quarter of fiscal 2014. The Company will continue to require substantial funds to continue research and development, including pre-clinical studies and clinical trials of its product candidates, and to commence sales and marketing efforts, if the U.S. Food and Drug Administration or other regulatory approvals are obtained. Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, preferred stock offerings, issuances of debt and convertible debt instruments. Management is also actively pursuing financial and strategic alternatives, including strategic investments and divestitures, industry collaboration activities and strategic partners. Management has sold its non-essential real estate assets to augment its cash position. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. There are no assurances that such additional funding will be achieved and that the Company will succeed in its future operations. The interim statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue in existence. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and the Company may have to cease operations.

Effects of Recent Accounting Pr

Effects of Recent Accounting Pronouncements	6 Months Ended
	Jan. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Effects of Recent Accounting Pronouncements	Note 2 – Effects of Recent Accounting Pronouncements: Recently Issued Accounting Pronouncements In November 2014, the FASB issued guidance regarding Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. In August 2014, the FASB issued guidance regarding disclosure of uncertainties about an entity’s ability to continue as a going concern. The guidance will be effective for the Company’s fiscal year ended July 31, 2017 and subsequent interim periods. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation:	Note 3 – Stock-Based Compensation: As of January 31, 2016, the Company had two stockholder-approved stock incentive plans under which shares and options exercisable for shares of common stock have been or may be granted to employees, directors, consultants and advisors. A total of 12,000,000 shares of common stock are reserved for issuance under the 2001 Stock Option Plan (the 2001 Plan) and 135,000,000 shares of common stock are reserved for issuance under the 2006 Stock Plan as amended (the 2006 Plan). At January 31, 2016, there were 2,338,916 and 63,284,808 shares of common stock reserved for future awards under the 2001 Plan and 2006 Plan, respectively. The Company issues new shares of common stock from the shares reserved under the respective Plans upon conversion or exercise of options and issuance of restricted shares. The 2001 and 2006 Plans (the Plans) are administered by the Board of Directors (the Board). The Board is authorized to select from among eligible employees, directors, advisors and consultants those individuals to whom options are to be granted and to determine the number of shares to be subject to, and the terms and conditions of the options. The Board is also authorized to prescribe, amend and rescind terms relating to options granted under the Plans. Generally, the interpretation and construction of any provision of the Plans or any options granted hereunder is within the discretion of the Board. The Plans provide that options may or may not be Incentive Stock Options (ISOs) within the meaning of Section 422 of the Internal Revenue Code. Only employees of the Company are eligible to receive ISOs, while employees and non-employee directors, advisors and consultants are eligible to receive options which are not ISOs, i.e. “Non-Qualified Options.” The options granted by the Board in connection with its adoption of the Plans were Non-Qualified Options. In addition, the 2006 Plan also provides for restricted stock grants. The fair value of each option granted is estimated on the grant date using the Black-Scholes option pricing model or the value of the services provided, whichever is more readily determinable. The Black-Scholes option pricing model takes into account, as of the grant date, the exercise price and expected life of the option, the current price of the underlying stock and its expected volatility, expected dividends on the stock and the risk-free interest rate for the term of the option. The Black-Scholes option pricing model was not used to estimate the fair value any option grants in the quarter ended January 31, 2016 or in the fiscal year ended July 31, 2015. The following is a summary of the common stock options granted, forfeited or expired and exercised under the Plans for the Six months ended January 31, 2016: Options Weighted Average Exercise Price per Share Aggregate Intrinsic Value Outstanding, August 1, 2015 30,233,074 $ 0.0468 Add: Granted (note 7) 18,345,768 0.0010 Less: Exercised 2,952,404 0.0010 Outstanding, January 31, 2016 45,626,438 $ 0.0314 $ 275,725 Exercisable January 31, 2016 45,626,438 $ 0.0314 $ 275,725 The 45,626,438 outstanding options at January 31, 2016 had a weighted average remaining contractual term of 2.99 years. Options typically vest over a period of two to four years and have a contractual life of five to ten years. There were no non-vested common stock options granted, vested or forfeited under the Plan for the six months ended January 31, 2016. There was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Plans at January 31, 2016.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Jan. 31, 2016
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Note 4 – Accounts Payable and Accrued Expenses: Accounts payable and accrued expenses consist of the following: January 31, 2016 July 31, 2015 Accounts Payable and Accruals - General and Administrative $ 3,679,408 $ 3,156,951 Accounts Payable and Accruals - Research and Development 4,078,817 3,861,902 Accounts Payable and Accruals - Selling and Marketing 325,949 326,250 Accrued Make-whole Payments on Convertible Preferred Stock (see Note 7) 202,500 315,900 Executive Compensation and Directors’ Fees Payable 250,542 357,330 Total $ 8,537,216 $ 8,018,333 On September 23, 2015, the Company signed an amendment to a letter agreement which was originally signed in September 2011 and extended in October 2012. The letter agreement agreed to convert an unsecured payable from May 2009 in the amount of approximately $1.1 million to a non-interest bearing balance of approximately $2.25 million included in Accounts Payable & Accruals - General and Administrative In the six months ended January 31, 2015 the Company had a gain on extinguishment of debt of $327,839 related to the final settlement of a previously owed balance to a vendor. This is reported on the Company’s consolidated statement of operations under the caption “Gain on extinguishment of debt” and is included in the changes in accounts payable and accrued expenses category in the consolidated statement of cash flows.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Pending Litigation	Note 5 – Commitments and Contingencies: Pending Litigation In February 2001, a former business associate of the former Vice President of Research and Development (“VP”) of the Company and an entity known as Centrum Technologies Inc. (“CTI”) commenced an action in the Ontario Superior Court of Justice against the Company and the VP seeking, among other things, damages for alleged breaches of contract and tortious acts related to a business relationship between this former associate and the VP that ceased in July 1996. The plaintiffs’ statement of claim also seeks to enjoin the use, if any, by the Company of three patents allegedly owned by CTI. The three patents are entitled Liquid Formulations for Proteinic Pharmaceuticals Vaccine Delivery System for Immunization, Using Biodegradable Polymer Microspheres Controlled Releases of Drugs or Hormones in Biodegradable Polymer Microspheres On May 20, 2011, Ms. Perri filed a statement of claim (subsequently amended) in the Ontario Superior Court of Justice, naming as defendants the Company and certain directors of the Company, Mr. Barratt, Ms. Masterson, Mr. McGee, and Mr. Fletcher. In this action, Ms. Perri has alleged that defendants engaged in discrimination, harassment, bad faith and infliction of mental distress in connection with the termination of her employment with the Company. Ms. Perri is seeking damages in this action in excess of $7,000,000 for, among other things, breach of contract, breach of fiduciary duty, violations of the Ontario Human Rights Code and aggravated and punitive damages. On September 20, 2011, the defendants filed a statement of defense and counterclaim, also naming Time Release Corp., Khazak Group Consulting Corp., and David Khazak, C.A. as defendants by counterclaim, and seeking damages of approximately $2.3 million in funds that the defendants allege Ms. Perri wrongly caused the Company to pay to third parties in varying amounts over several years and an accounting of certain third-party payments, plus interests and costs. The factual basis for the counterclaim involves payments made by the Company to third parties believed to be related to Ms. Perri. The Company intends to defend this action and pursue its counterclaim vigorously and is not able to predict the ultimate outcome of this legal proceeding at the present time or to estimate an amount or range of potential loss, if any, from this legal proceeding. On June 1, 2011, Golden Bull Estates Ltd. filed a claim (subsequently amended) in the Ontario Superior Court of Justice, naming the Company, 1097346 Ontario, Inc. and Generex Pharmaceuticals, Inc. as defendants. The plaintiff, Golden Bull Estates, is controlled by Ms. Perri. The plaintiff alleges damages in the amount of $550,000 for breach of contract, $50,000 for punitive damages, plus interest and costs. The plaintiff’s claims relate to an alleged contract between the plaintiff and the Company for property management services for certain Ontario properties owned by the Company. The Company terminated the plaintiff’s property management services in April 2011. Following the close of pleadings, the Company served a motion for summary judgment. The plaintiff responded by amending its statement of claim to include a claim to the Company’s interest in certain of its real estate holdings. The plaintiff moved for leave to issue and register a Certificate of Pending Litigation in respect of this real estate. The motion was not successful in respect of any current real estate holdings of the Company. The Company is not able to predict the ultimate outcome of this legal proceeding at the present time or to estimate an amount or range of potential loss, if any, from this legal proceeding. In December 2011, a vendor of the Company commenced an action against the Company and its subsidiary, Generex Pharmaceuticals, Inc., in the Ontario Superior Court of Justice claiming damages for unpaid invoices including interest in the amount of $429,000, in addition to costs and further interest. The Company responded to this statement of claim and also asserted a counterclaim in the proceeding for $200,000 arising from the vendor’s breach of contract and detinue, together with interest and costs. On November 16, 2012, the parties agreed to settle this action and the Company has agreed to pay the plaintiff $125,000, following the spinout of its subsidiary Antigen, from the proceeds of any public or private financing related to Antigen subsequent to such spinout. Each party agreed to execute mutual releases to the claim and counterclaim to be held in trust by each party’s counsel until payment of the settlement amount. Following payment to the plaintiff, the parties agree that a Consent Dismissal Order without costs will be filed with the court. If the Company fails to make the payment following completion of any post-spinout financing related to Antigen or any other subsidiaries, the Plaintiffs may take out a judgment in the amount of the claim plus interest of 3% per annum and costs fixed at $25,000. The Company is involved in certain other legal proceedings in addition to those specifically described herein. Subject to the uncertainty inherent in all litigation, the Company does not believe at the present time that the resolution of any of these legal proceedings is likely to have a material adverse effect on the Company’s consolidated financial position, operations or cash flows. With respect to all litigation, as additional information concerning the estimates used by the Company becomes known, the Company reassesses its position both with respect to accrued liabilities and other potential exposures.

Net (Loss) _ Income Per Share (

Net (Loss) / Income Per Share (EPS)	6 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Net Income (Loss) Per Share (EPS)	Note 6 – Net (Loss) / Income Per Share (“EPS”): Basic EPS and Diluted EPS for the three and six-month periods ended January 31, 2016 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding during each period. All outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 621,837,475 incremental shares at January 31, 2016, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the losses generated during these periods. Basic EPS and Diluted EPS for the three and six-month periods ended January 31, 2015 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding during each period. All outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 319,509,495 incremental shares at January 31, 2015, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the losses generated during these periods.

Stockholders_ Deficiency

Stockholders’ Deficiency	6 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Stockholders’ Deficiency	Note 7 – Stockholders’ Deficiency: Common Stock During the six months ended January 31, 2016, the Company issued or committed to issue 300,000 shares of common stock to various consultants for services rendered, valued at $4,500. During the six months ended January 31, 2016, the Company issued 27,999,999 shares of common stock in conjunction with the conversion of 420 shares of the Series F 9% Convertible Preferred Stock and 13,576,707 shares of common stock as “make-whole” dividend payments on the Series F 9% Convertible Preferred Stock. During the six months ended January 31, 2016, the Company issued 2,952,404 to various employees in exchange for services rendered in the amount of $27,344. During the six months ended January 31, 2016, the Company received proceeds of $2,952 from exercises of options at $0.001 per share. The Company issued 2,952,404 shares of common stock as a result of these exercises. During the six months ended January 31, 2016 company granted total of 15,393,364 options to satisfy the deferred salary of $123,146 to the Corporate officers at an exercise price of $0.001 per share. The stockholders’ deficiency transactions for the six months ended January 31, 2016, including the transactions described above are summarized below: Common Stock Shares Amount Additional Paid-In Capital Stockholders’ Deficiency Balance at August 1, 2015 825,496,238 $ 825,495 $ 362,556,710 $ (8,290,320 ) Issuance of common stock on conversion of convertible preferred stock 27,999,999 28,000 (28,000 ) — Issuance of common stock as make-whole payments on convertible preferred stock 13,576,707 13,577 99,823 113,400 Issuance of common stock for services 300,000 300 4,200 4,500 Issuance of stock options for services — — 27,344 27,344 Issuance of Stock Options for Executive deferred salary 123,147 123,147 Exercise of stock options 2,952,404 2,953 — 2,953 Balance at January 31, 2016 870,325,348 $ 870,325 $ 362,783,224 Other changes to Stockholders’ Deficiency Net loss for Six months ended January 31, 2016 (1,778,655 ) Currency translation adjustment (5,087 ) Stockholders’ Deficiency at January 31, 2016 $ (9,802,719 ) Warrants There are 512,911,037 warrants outstanding as of January 31, 2016. There were no warrants issued, or exercised for the six months ended January 31, 2016. The outstanding warrants at January 31, 2016 have a weighted average exercise price of $0.015 per share and have a weighted average remaining life of 1.94 years. As of January 31, 2016, the Company has 512,911,037 warrants with a current exercise price of $0.015 which have price protection provisions that allow for the reduction in the current exercise price upon the occurrence of certain events, including the Company’s issuance of common stock or securities convertible into or exercisable for common stock, such as options and warrants, at a price per share less than the exercise price then in effect. For instance, if the Company issues shares of its common stock or options exercisable for or securities convertible into common stock at an effective price per share of common stock less than the exercise price then in effect, the exercise price will be reduced to the effective price of the new issuance. Simultaneously with any reduction to the exercise price, the number of shares of common stock that may be purchased upon exercise of each of these warrants shall be increased proportionately, so that after such adjustment the aggregate exercise price payable for the adjusted number of warrants shall be the same as the aggregate exercise price in effect immediately prior to such adjustment. There are a limited number of permitted types of stock and equity instrument issuances for each series of warrants which will not invoke the price protection provisions of these warrants. The Company accounts for the warrants with price protection provisions in accordance with FASB ASC Topic 815 as described in Note 8 - Derivative Liabilities Series A, B, C, D and E 9% Convertible Preferred Stock All of the Company’s Series A, B, C, D and E 9% Convertible Preferred Stock was converted prior to the beginning of the Company’s 2016 fiscal year. Series F and G 9% Convertible Preferred Stock The Company has authorized 4,150 shares of Series F 9% Convertible Preferred Stock with a stated value of one thousand ($1,000) per share. Pursuant to a securities purchase agreement dated March 27, 2014, the Company sold an aggregate of 2,075 shares of Series F convertible preferred stock, as well as accompanying warrants to purchase 69,166,667 shares of common stock. An aggregate of 69,166,667 shares of the Company’s common stock were issuable upon conversion of the Series F convertible preferred stock which was issued at the closing on March 27, 2014. The Company has authorized 1,000 shares of Series G 9% Convertible Preferred Stock with a stated value of one thousand ($1,000) per share. Pursuant to a securities purchase agreement dated June 24, 2015, the Company sold an aggregate of 500 shares of Series G convertible preferred stock, as well as accompanying warrants to purchase 33,333,333 shares of common stock. An aggregate of 33,333,333 shares of the Company’s common stock are issuable upon conversion of the Series G convertible preferred stock which was issued at the closing on June 24, 2015. Subject to certain ownership limitations, the convertible preferred stock is convertible at the option of the holder at any time into shares of the Company’s common stock at an effective conversion price of $0.015 per share (Note: The conversion price for the Series F Convertible Preferred Stock was adjusted from $0.03 to $0.015 in conjunction with the Series G Convertible Preferred Stock financing on June 24, 2015), and will accrue a 9% dividend until the third year anniversary of the issuances. On each one year anniversary thereafter, such dividend rate will increase by an additional 3%. The dividend is payable quarterly on September 30, December 31, March 31 and June 30, beginning on June 30, 2014 and June 30, 2015, respectively, and on each conversion date in cash, or at the Company’s option, in shares of common stock. In the event that the Series F and G convertible preferred stock is converted prior to March 27, 2017 and June 24, 2018, respectively, the Company will pay the holder of the converted preferred stock an amount equal to $270 per $1,000 of stated value of the convertible preferred stock, less the amount of all prior quarterly dividends paid on such converted preferred stock before the relevant conversion date. Such “make-whole payment” may be made in cash or, at the Company’s option, in shares of its common stock. In addition, beginning on the third anniversary date of the issuances, the Company will pay dividends on shares of preferred stock equal to (on an as-if-converted-to-common-stock basis) and in the same form as dividends (other than dividends in the form of common stock) actually paid on shares of the common stock when, and if such dividends are paid. The Company will incur a late fee of 18% per annum on unpaid dividends. The conversion price of the convertible preferred stock is subject to adjustment in the case of stock splits, stock dividends, combinations of shares, similar recapitalization transactions and certain pro-rata distributions to common stockholders. The conversion price will also be adjusted if the Company sells or grants any shares of common stock or securities convertible into, or rights to acquire, common stock at an effective price per share that is lower than the then conversion price, except in the event of certain exempt issuances. In addition, the holders of convertible preferred stock will be entitled to receive any securities or rights to acquire securities or property granted or issued by the Company pro rata to the holders of its common stock to the same extent as if such holders had converted all of their shares of convertible preferred stock. In the event of a fundamental transaction, such as a merger, consolidation, sale of substantially all assets and similar reorganizations or recapitalizations, the holders of convertible preferred stock will be entitled to receive, upon conversion of their shares, any securities or other consideration received by the holders of the Company’s common stock pursuant to the fundamental transaction. The conversion price for the Series F Convertible Preferred Stock was adjusted from $0.03 to $0.015 in conjunction with the Series G Convertible Preferred Stock on June 24, 2015 and the number of common shares underlying the 838 Series F Convertible Preferred Stock outstanding at that date increased from 27,941,667 to 55,883,333. In conjunction with the issuance of the Series F convertible preferred stock in March 2014 and the issuance of the Series G convertible preferred stock in June 2015, the Company also issued 69,166,667 and 33,333,333 warrants, respectively to the investors. Subject to certain ownership limitations, the warrants will be exercisable at any time after their respective dates of issuance and on or before the fifth-year anniversary thereafter at an exercise price of $0.015 per share of common stock (Note: The conversion price for the warrants issued in the Series F Convertible Preferred Stock financing was adjusted from $0.03 to $0.015 in conjunction with the Series G Convertible Preferred Stock financing on June 24, 2015 and the number of warrants increased from 69,166,667 to 138,333,334). The exercise price of the warrants and, in some cases, the number of shares issuable upon exercise, are subject to adjustment in the case of stock splits, stock dividends, combinations of shares, similar recapitalization transactions and certain pro-rata distributions to common stockholders. The exercise price and number of shares of common stock issuable upon exercise will also be adjusted if the Company sells or grants any shares of common stock or securities convertible into, or rights to acquire, common stock at an effective price per share that is lower than the then exercise price, except in the event of certain exempt issuances. In addition, the warrant holders will be entitled to receive any securities or rights to acquire securities or property granted or issued by the Company pro rata to the holders of its common stock to the same extent as if such holders had exercised all of their warrants. In the event of a fundamental transaction, such as a merger, consolidation, sale of substantially all assets and similar reorganizations or recapitalizations, the warrant holders will be entitled to receive, upon exercise of their warrants, any securities or other consideration received by the holders of the Company’s common stock pursuant to the fundamental transaction. These warrants have been classified as derivative liabilities and are described further in Note 8 – Derivative Liabilities In addition, until the first anniversary date of the March 2014 securities purchase agreement and the first anniversary of the August 19, 2015 shareholder approval of the increase in authorized stock, respectively, each investor may, in its sole determination, elect to purchase, severally and not jointly with the other investors, in one or more purchases, in the ratio of such investor's original subscription amount to the original aggregate subscription amount of all investors, additional units consisting of convertible preferred stock and warrants at a purchase price of $1,000 per unit with an aggregate subscription amount thereof of up to $2,075,000 and $500,000, respectively, which units will have terms identical to the units of convertible preferred stock and warrants issued in connection with the March 2014 and June 2015 closings. These additional investment rights of the investors have been classified as derivative liabilities and are described further in Note 8 – Derivative Liabilities As of January 31, 2016, 1,825 of the Series F convertible preferred stock had been converted to common stock. There were 80,441,665 shares of common stock issued upon the conversion of the Series F convertible preferred stock and 29,971,378 shares of common stock issued as “make-whole payments” on such conversions. As of January 31, 2016, none of the Series G convertible preferred stock had been converted to common stock. Accounting for proceeds from the Series F convertible preferred stock financing The initial cash proceeds, net of issuance costs of $55,000, from the Series F convertible preferred stock financing in March 2014 were $2,020,000. The proceeds from the financing were allocated first to the warrants that were issued in the financing, second to the additional investment rights associated with the financing and then to the make whole payments and subsequent issuance costs. As the assigned fair values were greater than the net cash proceeds from the transaction, the excess was treated as a “deemed dividend” for accounting purposes and was reported on the Company’s consolidated statement of comprehensive (loss) / income for the fiscal year ended July 31, 2014 under the caption “Preferred Stock Dividend”. The calculation methodologies for the fair values of the derivative warrant liability and the derivative additional investment rights liability are described in Note 8 – Derivative Liabilities Accounting allocation of initial proceeds Net proceeds $ 2,020,000 Derivative warrant liability fair value (2,016,064 ) Derivative additional investment rights fair value (863,735 ) Other issuance costs (finders’ fee) (166,000 ) Make whole payments liability (560,250 ) Deemed dividend $ (1,586,050 ) The initial “make-whole payments” of $560,250 on the Series F convertible preferred stock were accrued as of the date of the financing and the remaining balance of $67,500 (after conversions) is included in Accounts Payable and Accrued Expenses (see Note 4) at January 31, 2016. Accounting for proceeds from the Series G convertible preferred stock financing The initial cash proceeds, net of issuance costs of $25,000, from the Series G convertible preferred stock financing in June 2015 were $475,000. The proceeds from the financing were allocated first to the warrants that were issued in the financing, second to the additional investment rights associated with the financing and then to the make whole payments and subsequent issuance costs. As the assigned fair values were greater than the net cash proceeds from the transaction, the excess was treated as a “deemed dividend” for accounting purposes and was reported on the Company’s consolidated statement of comprehensive (loss) / income for the fiscal year ended July 31, 2015 under the caption “Preferred Stock Dividend”. The calculation methodologies for the fair values of the derivative warrant liability and the derivative additional investment rights liability are described in Note 8 – Derivative Liabilities Accounting allocation of initial proceeds Net proceeds $ 475,000 Derivative warrant liability fair value (354,535 ) Derivative additional investment rights fair value (285,048 ) Other issuance costs (finders’ fee) (40,000 ) Make whole payments liability (135,000 ) Deemed dividend $ (339,583 ) The initial “make-whole payments” of $135,000 on the Series G convertible preferred stock were accrued as of the date of the financing and the remaining balance of $135,000 (after conversions) is included in Accounts Payable and Accrued Expenses (see Note 4) at January 31, 2016.

Derivative Liabilities

Derivative Liabilities	6 Months Ended
	Jan. 31, 2016
Notes to Financial Statements
Derivative Liabilities	Note 8 – Derivative Liabilities: Derivative warrant liability The Company has warrants outstanding with price protection provisions that allow for the reduction in the exercise price of the warrants in the event the Company subsequently issues stock or securities convertible into stock at a price lower than the exercise price of the warrants. Simultaneously with any reduction to the exercise price, the number of shares of common stock that may be purchased upon exercise of each of these warrants shall be increased or decreased proportionately, so that after such adjustment the aggregate exercise price payable for the adjusted number of warrants shall be the same as the aggregate exercise price in effect immediately prior to such adjustment. Accounting for Derivative Warrant Liability The Company’s derivative instruments have been measured at fair value at January 31, 2016 and July 31, 2015 using the binomial lattice model. The Company recognizes all of its warrants with price protection in its consolidated balance sheets as a liability. The liability is revalued at each reporting period and changes in fair value are recognized currently in the consolidated statements of comprehensive income. The initial recognition and subsequent changes in fair value of the derivative warrant liability have no effect on the Company’s consolidated cash flows. The derivative warrants outstanding at January 31, 2016 are all currently exercisable with a weighted-average remaining life of 1.97 years. The revaluation of the warrants at the end of the respective reporting periods resulted in the recognition of a gain of $30,684 within the Company’s consolidated statements of operations for the six months ended January 31, 2016 and a gain of $1,144,784 within the Company’s consolidated statements of comprehensive (loss) / income for the six months ended January 31, 2015, which are included in the consolidated statement of comprehensive (loss) / income under the caption “Change in fair value of derivative liabilities”. The fair values of the warrants at January 31, 2016 and July 31, 2015 were $2,332,731 and $2,363,415, respectively, which are reported on the consolidated balance sheets under the caption “Derivative Warrant Liability”. The following summarizes the changes in the value of the derivative warrant liability from August 1, 2015 until January 31, 2016: Value No. of Warrants Balance at August 1, 2015 – Derivative warrant liability $ 2,363,415 512,911,037 Decrease in fair value of derivative warrant liability (30,684 ) n/a Balance at January 31, 2016 – Derivative warrant liability $ 2,332,731 512,911,037 Fair Value Assumptions Used in Accounting for Derivative Warrant Liability The Company has determined its derivative warrant liability to be a Level 2 fair value measurement and has used the binominal lattice pricing model to calculate the fair value as of January 31, 2016 and July 31, 2015. The binomial lattice model requires six basic data inputs: the exercise or strike price, time to expiration, the risk free interest rate, the current stock price, the estimated volatility of the stock price in the future, and the dividend rate. Because the warrants contain the price protection feature, the probability that the exercise price of the warrants would decrease as the stock price decreased was incorporated into the valuation calculations. The key inputs used in the January 31, 2016 and July 31, 2015 fair value calculations were as follows: January 31, 2016 July 31, 2015 Current exercise price $ 0.015 $ 0.015 Time to expiration 1.97 years 2.5 years Risk-free interest rate 0.97 % 1.08 % Estimated volatility 121 % 82 % Dividend -0- -0- Stock price at period end date $ 0.0076 $ 0.01 Fair Value Assumptions Used in Accounting for Derivative Additional Investment Rights Liability The Company has determined the derivative additional investment rights liability to be a Level 2 fair value measurement and has used the binominal lattice pricing model to measure the fair value. The Series F additional investment rights expired in March 2015. The fair value of the Series G derivative liability associated with the additional investment rights was determined to be $276,980 at January 31, 2016 (July 31, 2015 - $142,662). The key inputs used in the fair value calculation at January 31, 2016 and July 31, 2015 were as follows: January 31, 2016 July 31, 2015 Underlying number of units of convertible preferred stock 500 500 Underlying number of units of warrants 33,333,333 33,333,333 Current exercise price of warrants 0.015 0.015 Current conversion price of preferred stock 0.015 0.015 Time to expiration 0.55 years 1.05 years Risk-free interest rate 0.43 % 0.30 % Estimated volatility 149 % 79 % Dividend -0- -0- Stock price at period end date $ 0.0076 $ 0.01 The revaluation of the additional investment rights in the six-month period ended January 31, 2016, resulted in the recognition of a loss of $134,318 and in the six-month period ended January 31, 2015, the revaluation resulted in the recognition of a loss of $24,109. The respective loss and gain are recorded within the Company’s consolidated statements of comprehensive (loss) / income under the caption “Change in fair value of derivative liabilities”.

Subsequent Events

Subsequent Events	6 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 9 – Subsequent Events: The Company has evaluated subsequent events occurring after the balance sheet date through the date the interim statements were issued and determined that there are no events requiring financial statement disclosure.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Going Concern	Going Concern The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has experienced negative cash flows from operations since inception and has an accumulated deficit of approximately $374 million and a working capital deficiency of approximately $8.5 million at January 31, 2016. The Company has funded its activities to date almost exclusively from debt and equity financings, as well as the sale of non-essential real estate assets in fiscal 2012 through the first quarter of fiscal 2014. The Company will continue to require substantial funds to continue research and development, including pre-clinical studies and clinical trials of its product candidates, and to commence sales and marketing efforts, if the U.S. Food and Drug Administration or other regulatory approvals are obtained. Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, preferred stock offerings, issuances of debt and convertible debt instruments. Management is also actively pursuing financial and strategic alternatives, including strategic investments and divestitures, industry collaboration activities and strategic partners. Management has sold its non-essential real estate assets to augment its cash position. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. There are no assurances that such additional funding will be achieved and that the Company will succeed in its future operations. The interim statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue in existence. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and the Company may have to cease operations.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Common stock options granted, forfeited or expired and exercised	Options Weighted Average Exercise Price per Share Aggregate Intrinsic Value Outstanding, August 1, 2015 30,233,074 $ 0.0468 Add: Granted (note 7) 18,345,768 0.0010 Less: Exercised 2,952,404 0.0010 Outstanding, January 31, 2016 45,626,438 $ 0.0314 $ 275,725 Exercisable January 31, 2016 45,626,438 $ 0.0314 $ 275,725

Accounts Payable and Accrued 17

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jan. 31, 2016
Payables and Accruals [Abstract]
Accounts payable and accrues expenses	January 31, 2016 July 31, 2015 Accounts Payable and Accruals - General and Administrative $ 3,679,408 $ 3,156,951 Accounts Payable and Accruals - Research and Development 4,078,817 3,861,902 Accounts Payable and Accruals - Selling and Marketing 325,949 326,250 Accrued Make-whole Payments on Convertible Preferred Stock (see Note 7) 202,500 315,900 Executive Compensation and Directors’ Fees Payable 250,542 357,330 Total $ 8,537,216 $ 8,018,333

Stockholders' Deficiency (Table

Stockholders' Deficiency (Tables)	6 Months Ended
	Jan. 31, 2016
Stockholders' deficiency transactions	Common Stock Shares Amount Additional Paid-In Capital Stockholders’ Deficiency Balance at August 1, 2015 825,496,238 $ 825,495 $ 362,556,710 $ (8,290,320 ) Issuance of common stock on conversion of convertible preferred stock 27,999,999 28,000 (28,000 ) — Issuance of common stock as make-whole payments on convertible preferred stock 13,576,707 13,577 99,823 113,400 Issuance of common stock for services 300,000 300 4,200 4,500 Issuance of stock options for services — — 27,344 27,344 Issuance of Stock Options for Executive deferred salary 123,147 123,147 Exercise of stock options 2,952,404 2,953 — 2,953 Balance at January 31, 2016 870,325,348 $ 870,325 $ 362,783,224 Other changes to Stockholders’ Deficiency Net loss for Six months ended January 31, 2016 (1,778,655 ) Currency translation adjustment (5,087 ) Stockholders’ Deficiency at January 31, 2016 $ (9,802,719 )
Series F Convertible Preferred Stock
Allocation of initial proceeds	Accounting allocation of initial proceeds Net proceeds $ 2,020,000 Derivative warrant liability fair value (2,016,064 ) Derivative additional investment rights fair value (863,735 ) Other issuance costs (finders’ fee) (166,000 ) Make whole payments liability (560,250 ) Deemed dividend $ (1,586,050 )
Series G Convertible Preferred Stock
Allocation of initial proceeds	Accounting allocation of initial proceeds Net proceeds $ 475,000 Derivative warrant liability fair value (354,535 ) Derivative additional investment rights fair value (285,048 ) Other issuance costs (finders’ fee) (40,000 ) Make whole payments liability (135,000 ) Deemed dividend $ (339,583 )

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	6 Months Ended
	Jan. 31, 2016
Notes to Financial Statements
Derivative warrant liability	Value No. of Warrants Balance at August 1, 2015 – Derivative warrant liability $ 2,363,415 512,911,037 Decrease in fair value of derivative warrant liability (30,684 ) n/a Balance at January 31, 2016 – Derivative warrant liability $ 2,332,731 512,911,037
Fair value assumptions, derivative warrant liability	January 31, 2016 July 31, 2015 Current exercise price $ 0.015 $ 0.015 Time to expiration 1.97 years 2.5 years Risk-free interest rate 0.97 % 1.08 % Estimated volatility 121 % 82 % Dividend -0- -0- Stock price at period end date $ 0.0076 $ 0.01
Fair value assumptions, derivative additional investment rights liability	January 31, 2016 July 31, 2015 Underlying number of units of convertible preferred stock 500 500 Underlying number of units of warrants 33,333,333 33,333,333 Current exercise price of warrants 0.015 0.015 Current conversion price of preferred stock 0.015 0.015 Time to expiration 0.55 years 1.05 years Risk-free interest rate 0.43 % 0.30 % Estimated volatility 149 % 79 % Dividend -0- -0- Stock price at period end date $ 0.0076 $ 0.01

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Accounting Policies [Abstract]
Accumulated deficit	$ (374,259,918)	$ (372,481,263)
Working capital deficiency	$ 8,500,000

Common stock options granted, f

Common stock options granted, forfeited or expired and exercised - Stock-Based Compensation (Details Narrative) - $ / shares	18 Months Ended
	Jan. 31, 2016	Jul. 31, 2015
Options
Options Outstanding	45,626,438	30,233,074
Options Granted	18,345,768
Options Exercised	2,952,404
Options Exercisable	45,626,438
Weighted Average Exercise Price per Share	$ 0.0314	$ 0.0468
Weighted Average Exercise Price per Share, Granted	0.0010
Weighted Average Exercise Price per Share, Exercised	0.0010
Weighted Average Exercise Price per Share, Exercisable	$ 0.0314
Aggregate Intrinsic Vaalue
Options Outstanding	275,725
Options Exercisable	275,725

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative)	6 Months Ended
	Jan. 31, 2016shares
Stock Option Plan 2001
Common stock reserved for future issuance	12,000,000
Common stock reserved for future awards	2,338,916
Stock Option Plan 2006
Common stock reserved for future issuance	135,000,000
Common stock reserved for future awards	63,284,808
Stock Options
Outstanding options	45,626,438
Outstanding options, weighted average remaining contractual term	2 years 11 months

Accounts Payable and Accrued 23

Accounts Payable and Accrued Expenses - Accounts payable and accrues expenses (Details) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accruals – General and Administrative	$ 3,679,408	$ 3,156,951
Accounts Payable and Accruals – Research and Development	4,078,817	3,861,902
Accounts Payable and Accruals – Selling and Marketing	325,949	326,250
Accrued Make-whole Payments on Convertible Preferred Stock (see Note 8)	202,500	315,900
Executive Compensation and Directors’ Fees Payable	250,542	357,330
Total	$ 8,537,216	$ 8,018,333

Accounts Payable and Accrued 24

Accounts Payable and Accrued Expenses (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended			6 Months Ended
	Sep. 30, 2015	May 31, 2009	Jan. 31, 2016	Oct. 31, 2015	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Payables and Accruals [Abstract]
Unsecured payable original value	$ 2,540,000	$ 1,100,000
Converted note value	$ 3,150,000	$ 2,250,000
Converted note interest rate		0.00%
General and administrative expense				$ 610,000
Gain on extinguishment of debt							$ (327,839)

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	12 Months Ended
	Nov. 16, 2012	Jul. 31, 2012	Jul. 31, 2011	May 20, 2011	Jul. 20, 2001
Shares of CBI owned by former business associate					50.00%
Shares of CBI owned by Company					50.00%
Termination Of Employee
Value of damages sought			$ 7,000,000
Counterclaim proceeding				$ 2,300,000
Lawsuit filing date			20-May-11
Name of Plaintiff			Ms. Perri
Breach of contract and detinue
Value of damages sought			$ 550,000
Counterclaim proceeding			$ 200,000
Lawsuit filing date			1-Jun-11
Name of Plaintiff			Golden Bull Estates
Punitive Damages
Value of damages sought			$ 50,000
Damages for Unpaid Invoices
Value of damages sought		$ 429,000
Lawsuit filing date		31-Dec-11
Name of Plaintiff		Vendor
Settlement of litigation	$ 125,000
Interest per annum, failure to pay settlement		3.00%
Fixed cost per annum, failure to pay settlement		$ 25,000

Net Income (Loss) Per Share (EP

Net Income (Loss) Per Share (EPS) (Details Narrative) - shares	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Accounting Policies [Abstract]
Incremental shares	621,837,475	319,509,495

Stockholders_ Deficiency - Stoc

Stockholders’ Deficiency - Stockholders’ deficiency transactions (Details) - USD ($)	Aug. 02, 2015	Aug. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Net (loss)			$ (47,390)	$ (511,916)	$ (1,778,655)	$ (462,293)
Currency translation adjustment					(5,087)
Stockholders' Deficiency					$ (9,802,719)
Common Stock
Total, Shares	825,496,238				870,325,348
Total, Amount	$ 825,495				$ 870,325
Issuance of common stock on conversion of convertible preferred stock, Shares					27,999,999
Issuance of common stock on conversion of convertible preferred stock, Amount					$ 28,000
Issuance of common stock as make-whole payments on convertible preferred stock, Shares					13,576,707
Issuance of common stock as make-whole payments on convertible preferred stock, Amount					$ 13,577
Issuance of common stock for services, Shares					300,000
Issuance of common stock for services, Amount					$ 300
Exercise of employee stock options, Shares					2,952,404
Exercise of employee stock options, Amount					$ 2,953
Additional Paid-In Capital
Total, Amount		$ 362,556,710			362,783,224
Issuance of common stock on conversion of convertible preferred stock, Amount					(28,000)
Issuance of common stock as make-whole payments on convertible preferred stock, Amount					99,823
Issuance of common stock for services, Amount					4,200
Issuance of Stock Options for Executive deferred salary					123,147
Exercise of employee stock options, Amount
Change to Stockholders Equity
Total, Amount	$ (8,290,320)
Issuance of common stock on conversion of convertible preferred stock, Amount
Issuance of common stock as make-whole payments on convertible preferred stock, Amount					113,400
Issuance of common stock for services, Amount					4,500
Issuance of Stock Options for Executive deferred salary					123,147
Exercise of employee stock options, Amount					$ 2,953

Stockholders' Deficiency - Allo

Stockholders' Deficiency - Allocation of initial proceeds (Details)	6 Months Ended
	Jan. 31, 2016USD ($)
Series F Convertible Preferred Stock
Net proceeds	$ 2,020,000
Derivative warrant liability fair value	(2,016,064)
Derivative additional investment rights fair value	(863,735)
Other issuance costs (finders' fee)	(166,000)
Make whole payments liability	(560,250)
Deemed dividend	(1,586,050)
Series G Convertible Preferred Stock
Net proceeds	475,000
Derivative warrant liability fair value	(354,535)
Derivative additional investment rights fair value	(285,048)
Other issuance costs (finders' fee)	(40,000)
Make whole payments liability	(135,000)
Deemed dividend	$ (339,583)

Stockholders' (Deficiency) (Det

Stockholders' (Deficiency) (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2016	Jul. 31, 2015
Common stock issued, or committed to issue, Shares	300,000
Common stock issued, or committed to issue, Amount	$ 4,500
Common stock, value per share	$ 0.001	$ 0.001
Conversion of shares of Series F, Convertible Preferred Stock	27,999,999
Stock issued to employees for services rendered	2,952,404
Stock issued to employees for services rendered, Amount	$ 27,344
Options granted to satisfy deferred salaries, Shares	15,393,364
Options granted to satisfy deferred salaries, Amount	$ 123,146
Proceeds from exercise of options	$ 2,952
Proceeds from exercise of options, Shares	2,952,404
Warrants Outstanding	512,911,037
Total Warrants Outstanding, Value	$ 2,332,731
Outstanding warrants, weighted average exercise price	$ 0.015
Outstanding warrants, weighted average remaining life (in years)	1 year 11 months
Series F Convertible Preferred Stock
Common stock issued, or committed to issue, Shares	27,999,999
Conversion of shares of Series F, Convertible Preferred Stock	420
Common stock as make whole payments	13,576,707

Stockholders_ Deficiency (Detai

Stockholders’ Deficiency (Details Narrative 2) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 24, 2015	Mar. 27, 2014	Jan. 31, 2016	Jul. 31, 2015
Accounts payable and accrued expenses			$ 8,537,216	$ 8,018,333
Series G Convertible Preferred Stock
Convertible preferred stock, shares authorized	1,000
Convertible preferred stock, cumulative percentage of interest	9.00%
Convertible preferred stock, par value (in dollars per share)	$ 1,000
Convertible preferred stock, shares issued	500
Common stock issued upon conversion of preferred stock	33,333,333
Converted stock amount, payment to holder	$ 1,000
Late fee per annum	18.00%
Initial cash proceeds	$ 475,000
Accounts payable and accrued expenses	$ 135,000
Series F Convertible Preferred Stock
Convertible preferred stock, shares authorized		4,150	4,150	4,150
Convertible preferred stock, cumulative percentage of interest		9.00%	9.00%	9.00%
Convertible preferred stock, par value (in dollars per share)		$ 1,000	$ 1,000	$ 1,000
Convertible preferred stock, shares issued		2,075	250	670
Common stock issued upon conversion of preferred stock		69,166,667	41,224,999
Convertible preferred stock conversion price		$ 0.03
Converted stock amount, payment to holder		$ 270
Late fee per annum		18.00%
Preferred stock outstanding	55,883,333	27,941,667
Conversion of stock, amount converted			$ 1,825
Common stock issued on conversion of preferred stock			80,441,665
Common stock issued as "make-whole payments" on conversions of preferred stock			29,971,378
Initial cash proceeds		$ 2,020,000
Issuance costs		55,000
Initial "Make-whole payments"		560,250
Accounts payable and accrued expenses		$ 67,500
Series G Convertible Preferred Stock
Convertible preferred stock, shares authorized			1,000	1,000
Convertible preferred stock, cumulative percentage of interest			9.00%	9.00%
Convertible preferred stock, par value (in dollars per share)			$ 1,000	$ 1,000
Convertible preferred stock, shares issued			500	500
Convertible preferred stock conversion price	$ 0.015
Preferred stock outstanding	138,333,334
Issuance costs	$ 25,000
Initial "Make-whole payments"	$ 135,000

Derivative Liabilities - Deriva

Derivative Liabilities - Derivative warrant liability (Details) - USD ($)	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jul. 31, 2015
Notes to Financial Statements
Balance - Derivative warrant liability Value	$ 2,332,731
Increase (Decrease) in fair value of derivative warrant liability	30,684	$ 1,144,784
Balance - Derivative warrant liability Value	$ 2,363,415
No. of Warrants - Derivative warrant liability	512,911,037		512,911,037

Derivative Liabilities - Fair v

Derivative Liabilities - Fair value assumptions, derivative warrant liability (Details) - $ / shares	Aug. 02, 2015	Jan. 31, 2016	Jul. 31, 2015
Notes to Financial Statements
Current exercise price		$ 0.015	$ 0.015
Time to expiration	2 years 6 months	1 year 11 months
Risk-free interest rate	1.08%	97.00%
Estimated volatility	82.00%	121.00%
Dividend	0.00%	0.00%
Stock price at period end date		$ 0.0076	$ 0.01

Derivative Liabilities - Fair33

Derivative Liabilities - Fair value assumptions, derivative additional investment rights liability (Details)	Aug. 02, 2015$ / sharesshares	Jan. 31, 2016$ / sharesshares	Jul. 31, 2015$ / shares
Notes to Financial Statements
Underlying number of units of convertible preferred stock | shares	500	500
Underlying number of units of warrants | shares	33,333,333	33,333,333
Current exercise price of warrants		$ 0.015	$ 0.015
Current conversion price of preferred stock	$ 0.015	$ 0.015
Time to expiration	1 year	6 months
Risk-free interest rate	0.0030	0.0043
Estimated volatility	0.79	1.49
Dividend	0.00%	0.00%
Stock price at period end date		$ 0.0076	$ 0.01

Derivative Liabilities (Details

Derivative Liabilities (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jul. 31, 2015
Derivative warrants weighted average remaining life	1 year 11 months
Decrease in fair value of derivative warrant liability	$ 30,684	$ 1,144,784
Fair value of derivative liability	2,332,731		$ 2,363,415
Additional recognition of gain, “Change in fair value of derivative liabilities”	(134,318)	$ (24,109)
Series G Convertible Preferred Stock
Fair value of derivative liability	$ 276,980		$ 142,662