Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Oct. 31, 2014 | Dec. 05, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Lightlake Therapeutics Inc. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--07-31 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001385508 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Period End Date | 31-Oct-14 | ' |
Document Fiscal Year Focus | '2015 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Common Stock, Shares Outstanding | ' | 182,010,212 |
Balance_Sheets
Balance Sheets (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
Current assets | ' | ' |
Cash and cash equivalents | $1,147,636 | $254,770 |
Prepaid expenses and other current assets | 534,542 | 24,079 |
Total current assets | 1,682,178 | 278,849 |
Other assets | ' | ' |
Patents and patent applications (net of accumulated amortization of $5,986 at October 31, 2014 and $5,642 at July 31, 2014) | 21,464 | 21,808 |
Total assets | 1,703,642 | 300,657 |
Current liabilities | ' | ' |
Accounts payable and accrued liabilities | 71,750 | 200,604 |
Accrued salaries and wages | 1,638,231 | 1,416,651 |
Due to related parties | 350,000 | 350,000 |
Total current liabilities | 2,059,981 | 1,967,255 |
Deferred revenue | 3,278,344 | 1,411,470 |
Total liabilities | 5,338,325 | 3,378,725 |
Stockholders' deficit | ' | ' |
Common stock; par value $0.001; 200,000,000 shares authorized; 178,991,893 shares issued and outstanding at October 31, 2014 and 178,207,278 shares issued and outstanding at July 31, 2014 | 178,991 | 178,206 |
Additional paid-in capital | 43,294,876 | 43,076,939 |
Accumulated deficit during the development stage | -47,108,550 | -46,333,213 |
Total stockholders' deficit | -3,634,683 | -3,078,068 |
Total liabilities and stockholders' deficit | $1,703,642 | $300,657 |
Balance_Sheets_Parentheticals
Balance Sheets (Parentheticals) (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
Balance Sheets [Abstract] | ' | ' |
Patents and patent applications, accumulated amortization (in Dollars) | $5,986 | $5,642 |
Common stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, share authorized (in Shares) | 200,000,000 | 200,000,000 |
Common stock, share issued (in Shares) | 178,991,893 | 178,207,278 |
Common stock, shares outstanding (in Shares) | 178,991,893 | 178,207,278 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2013 | |
Operating expenses | ' | ' |
General and administrative | $708,013 | $1,481,983 |
Research and development | 52,101 | 57,590 |
Total operating expenses | 760,114 | 1,539,573 |
Loss from operations | -760,114 | -1,539,573 |
Other income (expense) | ' | ' |
Interest expense | -8,212 | -125,547 |
Change in derivative | ' | -48,713 |
Loss on foreign exchange | -7,011 | ' |
Total other income (expense) | -15,223 | -174,260 |
Loss before provision for income taxes | -775,337 | -1,713,833 |
Provision for income taxes | ' | ' |
Net loss | ($775,337) | ($1,713,833) |
Loss per common share: | ' | ' |
Basic and diluted | $0 | ($0.01) |
Weighted average common shares outstanding | ' | ' |
Basic and diluted | 178,836,694 | 166,210,611 |
Statement_of_Stockholders_Defi
Statement of Stockholders' Deficit (USD $) | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Deficit During the Development Stage [Member] |
Balance at Jul. 31, 2014 | ($3,078,068) | $178,206 | $43,076,939 | ($46,333,213) |
Balance, shares at Jul. 31, 2014 | 178,207,278 | 178,207,278 | ' | ' |
Stock issued for services | 44,723 | 785 | 43,938 | ' |
Stock issued for services, shares | ' | 784,615 | ' | ' |
Stock based compensation from issuance of stock options | 173,999 | ' | 173,999 | ' |
Net loss | -775,337 | ' | ' | -775,337 |
Balance at Oct. 31, 2014 | ($3,634,683) | $178,991 | $43,294,876 | ($47,108,550) |
Balance, shares at Oct. 31, 2014 | 178,991,893 | 178,991,893 | ' | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 3 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2013 | |
Cash flows provided by (used in) operating activities | ' | ' |
Net loss | ($775,337) | ($1,713,833) |
Adjustments to reconcile net loss to net cash used by operating activities: | ' | ' |
Amortization | 344 | 419 |
Issuance of common stock for services | 44,723 | 110,668 |
Stock based compensation from issuance of options | 173,999 | 1,080,201 |
Accreted interest on debt discounts | ' | 132,428 |
Change in derivative | ' | 48,713 |
Changes in assets and liabilities: | ' | ' |
(Increase) decrease in prepaid expenses and other current assets | -510,463 | 8,500 |
Decrease in accounts payable | -128,854 | -16,424 |
Increase in accrued salaries and wages | 221,580 | 74,414 |
Net cash used by operating activities | -974,008 | -274,914 |
Cash flows provided by (used in) investing activities | ' | ' |
Cash flows provided by (used in) financing activities | ' | ' |
Borrowings from related parties | ' | ' |
Borrowings on convertible notes payable | ' | ' |
Payments to related parties on notes payable | ' | ' |
Investment received in exchange for royalty agreement | 1,866,874 | ' |
Issuance of common stock for cash | ' | ' |
Net cash provided from financing activities | 1,866,874 | ' |
Net increase (decrease) in cash and cash equivalents | 892,866 | -274,914 |
Cash and cash equivalents, beginning of period | 254,770 | 598,623 |
Cash and cash equivalents, end of period | 1,147,636 | 323,709 |
Supplemental disclosure | ' | ' |
Interest paid during the period | ' | 125,547 |
Taxes paid during the period | ' | ' |
Non-Cash Transactions | ' | ' |
Debt discounts attributable to derivative valuation | ' | 132,428 |
Settlement of derivative liability | ' | 8,820 |
Cashless exercise of warrants | ' | 1,524 |
Derivative liability | ' | $337,413 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 3 Months Ended | ||
Oct. 31, 2014 | |||
Organization and Basis of Presentation [Abstract] | ' | ||
Organization and Basis of Presentation | ' | ||
1 | Organization and Basis of Presentation | ||
Lightlake Therapeutics Inc. (“Lightlake”, “we”, “our”, the “Company”) is a biopharmaceutical company focused on treatments for common addictions, including Binge Eating Disorder, and related disorders, including a treatment to reverse opioid overdoses. | |||
The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these condensed financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the financial statements for the year ended July 31, 2014 and notes thereto and other pertinent information contained in the Form 10-K the Company has filed with the Securities and Exchange Commission (the “SEC”). | |||
The results of operations for the three months ended October 31, 2014 are not necessarily indicative of the results for the full fiscal year ending July 31, 2015. | |||
Going_Concern
Going Concern | 3 Months Ended | ||
Oct. 31, 2014 | |||
Going Concern [Abstract] | ' | ||
Going Concern | ' | ||
2 | Going Concern | ||
The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. However, the Company has incurred significant losses and is dependent on obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain the necessary funding it could cease operations as a new enterprise. This raises substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty. | |||
The Company will need to seek additional funding. The Company currently does not have a specific plan of how the Company will obtain such funding; however, the Company anticipates that additional funding will be in the form of debt financing and/or equity financing from the sale of the Company's common stock and/or in the form of financing from the sale of interests in the Company's prospective products. At this time, the Company cannot provide investors with any assurance that the Company will be able to obtain sufficient funding to meet the Company's obligations over the next twelve months. The Company does not have any arrangements in place for any future financing and may seek to obtain additional short-term loans from its officers and directors to meet its short-term funding needs. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended | ||
Oct. 31, 2014 | |||
Summary of Significant Accounting Policies [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
3 | Summary of Significant Accounting Policies | ||
Use of estimates | |||
The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||
Prepaid supplies | |||
As of October 31, 2014, the Company has prepaid supplies of $493,360, which it will use in its clinical trials and the development of its products for testing purposes to meet the U.S. Food and Drug Administration requirements for approval of its treatment to reverse opioid overdoses. The Company expects to amortize these prepaid supplies to research and development costs as these are used over the course of its clinical studies and testing period. | |||
Deferred revenue | |||
Amounts from nonrefundable investments received in exchange for net profit interests in the Company's prospective products are recognized as deferred revenue and will be amortized on a straight-line basis over the contracted or estimated period of performance. The period of performance over which the revenues are recognized is typically the period over which the research and/or development is expected to occur or manufacturing services are expected to be provided. Such investments are contingently convertible to equity and as such, no amortization to revenue has been recorded. (see Note 5) | |||
Recently Issued Accounting Pronouncements | |||
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations. | |||
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | ||
Oct. 31, 2014 | |||
Related Party Transactions [Abstract] | ' | ||
Related Party Transactions | ' | ||
4 | Related Party Transactions | ||
At October 31, and July 31, 2014, the Company had loans outstanding with its three directors (two of which are officers), in the total amount of $350,000. The loans mature on January 6, 2015 and are subject to annual interest of 8.5%. In the event that at least one-third and one-sixth of the amount due plus interest is not repaid by September 30, 2014 and December 25, 2014, respectively, certain penalties will apply. As of October 1, 2014, the outstanding loan balances are subject to a penalty rate of 6% per annum due to non-payment of the required repayment amounts. |
Deferred_Revenue
Deferred Revenue | 3 Months Ended | |
Oct. 31, 2014 | ||
Deferred Revenue [Abstract] | ' | |
Deferred Revenue | ' | |
5 | Deferred Revenue | |
On July 22, 2014, the Company received a $3,000,000 commitment from a foundation, from which the Company has the right to make capital calls for the research, development, marketing, commercialization, and any other activities connected to the Company's treatment to reverse opioid overdoses, certain operating expenses, and any other purpose consistent with the goals of the foundation. On August 13 and September 8, 2014 the Company received investments of $422,344 and $444,530, respectively, from the foundation in exchange for a 0.844687% and a 0.888906% interest, respectively, in the Company's opioid overdose reversal treatment. | ||
On September 9, 2014, the Company entered into an agreement and subsequently received funding from an individual investor in the amount of $500,000 for use by the Company for any purpose. In exchange for this funding, the Company agreed to provide the investor with a 0.98% interest in the Net Profit as related to the Company's treatment to reverse opioid overdoses. Net profit is defined as the pre-tax profit generated from the product after the deduction of all expenses incurred by and payments made by the Company in connection with the product, including but not limited to an allocation of Company overhead. The investor also has rights with respect to its 0.98% interest if the treatment is sold or the Company is sold. Additionally, the Company may buyback interests from the investor within two and one half years or after two and a half years of the investment at a price of two times or three and a half times, respectively, the relevant investment amount represented by the interests to be bought back. If the product is not introduced to the market and not approved by the U.S. Food and Drug Administration or an equivalent body in Europe and not marketed within 24 months the investor will have a 60 day option to receive 5,000,000 shares of common stock in lieu of the interest in the product. | ||
On September 17, 2014, the Company entered into an agreement and subsequently received additional funding totaling $500,000 for use by the Company for any purpose. In exchange for this funding, the Company agreed to provide the investor with a 1.0% interest in the Company's Binge Eating Disorder treatment product and pay the investor 1.0% of the net profit generated from this treatment in perpetuity. Net profit is defined as the pre-tax profit generated from the product after the deduction of all expenses incurred by and payments made by the Company in connection with the product, including but not limited to an allocation of Company overhead. If the product is not approved by the U.S. Food and Drug Administration within 36 months the investor will have a sixty day option to receive 6,250,000 shares of common stock in lieu of the 1.0% interest in the product. |
Stockholders_Equity
Stockholders' Equity | 3 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Stockholders' Equity [Abstract] | ' | ||||||||||||||||
Stockholders' Equity | ' | ||||||||||||||||
6 | Stockholders' Equity | ||||||||||||||||
Common Stock | |||||||||||||||||
On November 26, 2014, the Company amended its articles of incorporation to increase its authorized capital stock from 200,000,000 common shares to 1,000,000,000 common shares. | |||||||||||||||||
In August 2014, the Company issued 784,615 shares to consultants for services rendered. The shares have a fair value of $44,723 based on stock prices at issuance dates. | |||||||||||||||||
Stock Based Compensation | |||||||||||||||||
As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share based payment awards made to the officers and directors based on estimated fair values. Stock based compensation expense recognized for the three months ended October 31, 2014 was $173,999. | |||||||||||||||||
On August 2, 2014, the Company granted 3,000,000 stock options with an exercise price of $0.10 per share to a consultant for services rendered. These options have a term of 5 years and vested immediately. The Company has valued these options using the Black Scholes option pricing model which resulted in a fair market value of $173,999 which have been fully recognized as expense for the three months ended, October 31, 2014. The assumptions used in the valuation were as follows: | |||||||||||||||||
Market value of stock on measurement date | $ | 0.058 | |||||||||||||||
Risk-free interest rate | 1.73 | % | |||||||||||||||
Dividend yield | 0 | % | |||||||||||||||
Volatility factor | 413 | % | |||||||||||||||
Term | 5.0 years | ||||||||||||||||
Stock option activity for three months ended October 31, 2014 is presented in the table below: | |||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Shares | average | average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term (years) | |||||||||||||||||
Outstanding at July 31, 2014 | 304,750,000 | 0.09 | 8.56 | $ | 12,000 | ||||||||||||
Granted | 3,000,000 | 0.1 | 5 | ||||||||||||||
Forfeited/expired/cancelled | - | - | - | ||||||||||||||
Outstanding at October 31, 2014 | 307,750,000 | 0.09 | 8.27 | $ | - | ||||||||||||
Exercisable at October 31, 2014 | 162,025,000 | 0.1 | 8.19 | $ | - | ||||||||||||
Warrants | |||||||||||||||||
Warrant activity for quarter ended October 31, 2014 is presented in the table below: | |||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Shares | average | average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term (years) | |||||||||||||||||
Outstanding at July 31, 2014 | 125,475,239 | 0.2 | 4.33 | $ | - | ||||||||||||
Granted | - | - | |||||||||||||||
Exercised | - | - | |||||||||||||||
Outstanding at October 31, 2014 | 125,475,239 | 0.2 | 4.33 | $ | - | ||||||||||||
Exercisable at October 31, 2014 | 52,975,239 | 0.2 | 4.08 | $ | - |
Subsequent_Events
Subsequent Events | 3 Months Ended | ||
Oct. 31, 2014 | |||
Subsequent Events [Abstract] | ' | ||
Subsequent Events | ' | ||
7 | Subsequent Events | ||
On October 31, 2014, the Company entered into an agreement and subsequently received funding from an individual investor in the amount of $500,000 for use by the Company for any purpose. In exchange for this funding, the Company agreed to provide the investor with a 0.98% interest in the Net Profit as related to the Company's treatment to reverse opioid overdoses. Net profit is defined as the pre-tax profit generated from the product after the deduction of all expenses incurred by and payments made by the Company in connection with the product, including but not limited to an allocation of Company overhead. The investor also has rights with respect to its 0.98% interest if the treatment is sold or the Company is sold. Additionally, the Company may buyback the interest from the investor within two and one half years or after two and a half years but no later than four years of the investment at a price of two times or three and a half times, respectively, of the investment amount. If the product is not introduced to the market and not approved by the U.S. Food and Drug Administration or an equivalent body in Europe and not marketed within 24 months the investor will have a 60 day option to receive 5,000,000 shares of common stock in lieu of the interest in the product. | |||
On November 13, 2014, the Company made a capital call of $1,033,614 from the aforementioned foundation (see Note 5) in exchange for a 2.067228% interest in the Company's opioid overdose reversal treatment. | |||
On December 1, 2014, the Company and Aegis Therapeutics, LLC (“Aegis”), entered into a Material Transfer, Option and Research License Agreement (the “License Agreement”) that provides the Company with an exclusive royalty-free research license for a period of time to Aegis' proprietary delivery enhancement and stabilization agents, including Aegis' ProTek® and Intravail® technologies (collectively, the “Technology”) to enable the Company to conduct a feasibility study of opioid antagonists when used with the Technology. During this period of time, the Company may also evaluate its interest in having an exclusive license to the Technology for use with opioid antagonists to treat, diagnose, predict, detect or prevent any disease, disorder, state, condition or malady in humans (the “Possible License”). Aegis has granted the Company an exclusive option to obtain the Possible License for a certain period after the study is completed. | |||
In consideration of the license granted to the Company pursuant to the License Agreement, the Company is required to pay to Aegis a nonrefundable study fee. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Oct. 31, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Use of estimates | ' |
Use of estimates | |
The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Prepaid supplies | ' |
Prepaid supplies | |
As of October 31, 2014, the Company has prepaid supplies of $493,360, which it will use in its clinical trials and the development of its products for testing purposes to meet the U.S. Food and Drug Administration requirements for approval of its treatment to reverse opioid overdoses. The Company expects to amortize these prepaid supplies to research and development costs as these are used over the course of its clinical studies and testing period. | |
Deferred revenue | ' |
Deferred revenue | |
Amounts from nonrefundable investments received in exchange for net profit interests in the Company's prospective products are recognized as deferred revenue and will be amortized on a straight-line basis over the contracted or estimated period of performance. The period of performance over which the revenues are recognized is typically the period over which the research and/or development is expected to occur or manufacturing services are expected to be provided. Such investments are contingently convertible to equity and as such, no amortization to revenue has been recorded. (see Note 5) | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 3 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Stockholders' Equity [Abstract] | ' | ||||||||||||||||
Schedule of Assumptions Used in the Valuation | ' | ||||||||||||||||
Market value of stock on measurement date | $ | 0.058 | |||||||||||||||
Risk-free interest rate | 1.73 | % | |||||||||||||||
Dividend yield | 0 | % | |||||||||||||||
Volatility factor | 413 | % | |||||||||||||||
Term | 5.0 years | ||||||||||||||||
Schedule of Options and Warrants Outstanding | ' | ||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Shares | average | average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term (years) | |||||||||||||||||
Outstanding at July 31, 2014 | 304,750,000 | 0.09 | 8.56 | $ | 12,000 | ||||||||||||
Granted | 3,000,000 | 0.1 | 5 | ||||||||||||||
Forfeited/expired/cancelled | - | - | - | ||||||||||||||
Outstanding at October 31, 2014 | 307,750,000 | 0.09 | 8.27 | $ | - | ||||||||||||
Exercisable at October 31, 2014 | 162,025,000 | 0.1 | 8.19 | $ | - | ||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Shares | average | average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term (years) | |||||||||||||||||
Outstanding at July 31, 2014 | 125,475,239 | 0.2 | 4.33 | $ | - | ||||||||||||
Granted | - | - | |||||||||||||||
Exercised | - | - | |||||||||||||||
Outstanding at October 31, 2014 | 125,475,239 | 0.2 | 4.33 | $ | - | ||||||||||||
Exercisable at October 31, 2014 | 52,975,239 | 0.2 | 4.08 | $ | - |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | Oct. 31, 2014 |
Summary of Significant Accounting Policies [Abstract] | ' |
Prepaid supplies | $493,360 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | Oct. 31, 2014 | Jul. 31, 2014 |
Related Party Transaction [Line Items] | ' | ' |
Due to related parties | $350,000 | $350,000 |
Debt instrument, interest rate | 8.50% | ' |
Penalty rate | 6.00% | ' |
Deferred_Revenue_Details
Deferred Revenue (Details) (USD $) | 0 Months Ended | ||||
Sep. 08, 2014 | Sep. 09, 2014 | Aug. 13, 2014 | Jul. 22, 2014 | Sep. 17, 2013 | |
Deferred Revenue Arrangement [Line Items] | ' | ' | ' | ' | ' |
Proceeds from funding agreement | $444,530 | $500,000 | $422,344 | ' | $500,000 |
Interest in asset | 0.89% | 0.98% | 0.84% | ' | 1.00% |
Number of shares issuable | ' | 5,000,000 | ' | ' | 6,250,000 |
Deferred Revenue, Additions | ' | ' | ' | $3,000,000 | ' |
Stockholders_Equity_Common_Sto
Stockholders' Equity (Common Stock) (Details) (USD $) | 1 Months Ended | 3 Months Ended | ||
Aug. 31, 2014 | Oct. 31, 2014 | Nov. 26, 2014 | Jul. 31, 2014 | |
Stockholders' Equity [Abstract] | ' | ' | ' | ' |
Common stock, share authorized (in Shares) | ' | 200,000,000 | 1,000,000,000 | 200,000,000 |
Stock issued for services, shares | 784,615 | ' | ' | ' |
Stock issued for services | $44,723 | $44,723 | ' | ' |
Stockholders_Equity_Stock_Base
Stockholders' Equity (Stock Based Compensation) (Details) (USD $) | 0 Months Ended | 3 Months Ended |
Aug. 02, 2014 | Oct. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock based compensation expense | ' | $173,999 |
Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options granted | 3,000,000 | 3,000,000 |
Options granted, exercise price | $0.10 | $0.10 |
Expiration period | '5 years | ' |
Market value of stock on measurement date | ' | $0.06 |
Risk-free interest rate | ' | 1.73% |
Dividend yield | ' | 0.00% |
Volatility factor | ' | 413.00% |
Term | ' | '5 years |
Stock Option [Member] | August 2 Option Grant [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock based compensation expense | ' | $173,999 |
Stockholders_Equity_Schedule_o
Stockholders' Equity (Schedule of Outstanding Options and Warrants) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended |
Aug. 02, 2014 | Oct. 31, 2014 | Jul. 31, 2014 | |
WARRANTS [Member] | ' | ' | ' |
Number of Shares | ' | ' | ' |
Outstanding, beginning balance | 125,475,239 | 125,475,239 | ' |
Granted | ' | ' | ' |
Exercised | ' | ' | ' |
Outstanding, ending balance | ' | 125,475,239 | 125,475,239 |
Exercisable | ' | 52,975,239 | ' |
Weighted- average Exercise Price | ' | ' | ' |
Outstanding | $0.20 | $0.20 | ' |
Granted | ' | ' | ' |
Exercised | ' | ' | ' |
Outstanding | ' | $0.20 | $0.20 |
Exercisable | ' | $0.20 | ' |
Weighted- average Remaining Contractual Term (years) | ' | ' | ' |
Outstanding | ' | '4 years 3 months 29 days | '4 years 3 months 29 days |
Exercisable | ' | '4 years 29 days | ' |
Aggregate Intrinsic Value | ' | ' | ' |
Outstanding | ' | ' | ' |
Exercisable | ' | ' | ' |
OPTIONS [Member] | ' | ' | ' |
Number of Shares | ' | ' | ' |
Outstanding, beginning balance | 304,750,000 | 304,750,000 | ' |
Granted | 3,000,000 | 3,000,000 | ' |
Forfeited/expired/cancelled | ' | ' | ' |
Outstanding, ending balance | ' | 307,750,000 | 304,750,000 |
Exercisable | ' | 162,025,000 | ' |
Weighted- average Exercise Price | ' | ' | ' |
Outstanding | $0.09 | $0.09 | ' |
Granted | $0.10 | $0.10 | ' |
Forfeited/expired/cancelled | ' | ' | ' |
Outstanding | ' | $0.09 | $0.09 |
Exercisable | ' | $0.10 | ' |
Weighted- average Remaining Contractual Term (years) | ' | ' | ' |
Granted | ' | '5 years | ' |
Outstanding | ' | '8 years 3 months 7 days | '8 years 6 months 22 days |
Exercisable | ' | '8 years 2 months 8 days | ' |
Aggregate Intrinsic Value | ' | ' | ' |
Outstanding | ' | ' | 12,000 |
Exercisable | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 0 Months Ended | |||||
Sep. 08, 2014 | Sep. 09, 2014 | Aug. 13, 2014 | Sep. 17, 2013 | Nov. 13, 2014 | Oct. 31, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' |
Proceeds from funding agreement | $444,530 | $500,000 | $422,344 | $500,000 | $1,033,614 | $500,000 |
Interest in asset | 0.89% | 0.98% | 0.84% | 1.00% | 2.07% | 98.00% |
Number of shares issuable | ' | 5,000,000 | ' | 6,250,000 | ' | 5,000,000 |