Opiant Pharmaceuticals (OPNT) 10-Q 17 Mar 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jan. 31, 2015	Mar. 12, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Lightlake Therapeutics Inc.
Document Type	10-Q
Current Fiscal Year End Date	-24
Amendment Flag	FALSE
Entity Central Index Key	1385508
Entity Filer Category	Smaller Reporting Company
Document Period End Date	31-Jan-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Entity Common Stock, Shares Outstanding		1,827,562

Balance_Sheets

Balance Sheets (USD $)	Jan. 31, 2015	Jul. 31, 2014
Current assets
Cash and cash equivalents	$1,060,919	$254,770
Prepaid insurance	31,018	24,079
Total current assets	1,091,937	278,849
Other assets
Patents and patent applications (net of accumulated amortization of $6,329 at January 31, 2015 and $5,642 at July 31, 2014)	21,121	21,808
Total assets	1,113,058	300,657
Current liabilities
Accounts payable and accrued liabilities	77,618	200,604
Accrued salaries and wages	2,093,657	1,416,651
Due to related parties	130,000	350,000
Total current liabilities	2,301,275	1,967,255
Deferred revenue	4,811,957	1,411,470
Total liabilities	7,113,232	3,378,725
Stockholders' deficit
Common stock; par value $0.001; 200,000,000 shares authorized; 1,818,943 shares issued and outstanding at January 31, 2015 and 1,782,072 shares issued and outstanding at July 31, 2014	1,819	178,206
Additional paid-in capital	43,882,171	43,076,939
Accumulated deficit	-49,884,164	-46,333,213
Total stockholders' deficit	-6,000,174	-3,078,068
Total liabilities and stockholders' deficit	$1,113,058	$300,657

Balance_Sheets_Parentheticals

Balance Sheets (Parentheticals) (USD $)	Jan. 31, 2015	Jul. 31, 2014
Balance Sheets [Abstract]
Patents and patent applications, accumulated amortization (in Dollars)	$6,329	$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)	1,818,943	1,782,072
Common stock, shares outstanding (in Shares)	1,818,943	1,782,072

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended		6 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2015	Jan. 31, 2014
Statements of Operations [Abstract]
Net revenue	$560,000		$560,000
Operating expenses
General and administrative	2,138,609	5,059,362	2,846,622	6,541,345
Research and development	1,191,747	31,806	1,243,848	89,396
Total operating expenses	3,330,356	5,091,168	4,090,470	6,630,741
Loss from operations	-2,770,356	-5,091,168	-3,530,470	-6,630,741
Other income (expense)
Interest expense	-19,370	-6,242	-27,582	-131,789
Change in derivative		21,646		-27,067
Gain (loss) on foreign exchange	14,112	20,651	7,101	20,651
Total other income (expense)	-5,258	36,055	-20,481	-138,205
Loss before provision for income taxes	-2,775,614	-5,055,113	-3,550,951	-6,768,946
Provision for income taxes
Net loss	($2,775,614)	($5,055,113)	($3,550,951)	($6,768,946)
Loss per common share:
Basic and diluted	($1.54)	($2.96)	($1.98)	($3.94)
Weighted average common shares outstanding
Basic and diluted	1,806,303	1,705,624	1,797,032	1,716,199

Statement_of_Stockholders_Defi

Statement of Stockholders' Deficit (USD $)	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Deficit [Member]
Balance at Jul. 31, 2014	($3,078,068)	$1,782	$43,253,363	($46,333,213)
Balance, shares at Jul. 31, 2014	1,782,072	1,782,073
Stock issued for services	155,701	37	155,664
Stock issued for services, shares		36,861
Stock based compensation from issuance of stock options	328,420		328,420
Stock based compensation from issuance of warrants	144,724		144,724
Net loss	-3,550,951			-3,550,951
Balance at Jan. 31, 2015	($6,000,174)	$1,819	$43,882,171	($49,884,164)
Balance, shares at Jan. 31, 2015	1,818,943	1,818,934

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	6 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Cash flows provided by (used in) operating activities
Net loss	($3,550,951)	($6,768,946)
Adjustments to reconcile net loss to net cash used by operating activities:
Amortization	687	686
Issuance of common stock for services	155,701	217,668
Stock based compensation from issuance of options	328,420	5,662,223
Stock based compensation from issuance of warrants	144,724
Accreted interest on debt discounts		132,428
Change in derivative		27,067
Gain on debt settlement/forgiveness		-20,651
Changes in assets and liabilities:
(Increase) decrease in prepaid insurance	-6,939	17,000
Decrease in accounts payable	-122,986	-27,715
Increase in accrued salaries and wages	677,006	328,545
Net cash used by operating activities	-2,374,338	-431,695
Cash flows provided by (used in) financing activities
Payments to related parties on notes payable	-220,000
Investment received in exchange for royalty agreement	3,400,487	253,500
Net cash provided from financing activities	3,180,487	253,500
Net increase (decrease) in cash and cash equivalents	806,149	-178,195
Cash and cash equivalents, beginning of period	254,770	598,623
Cash and cash equivalents, end of period	1,060,919	420,428
Supplemental disclosure
Interest paid during the period		125,547
Taxes paid during the period
Non-Cash Transactions
Conversion of debt to equity		8,056
Debt discounts attributable to derivative valuation		132,428
Settlement of derivative liability		506,574
Cashless exercise of warrants		8,988
Derivative liability		$337,413

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	6 Months Ended
	Jan. 31, 2015
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 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 six months ended January 31, 2015 are not necessarily indicative of the results for the full fiscal year ending July 31, 2015.
	Reverse Stock Split
	In December 2014, the Company effected a one-for-one hundred reverse stock split of its common stock (the “1:100 Reverse Stock Split”) which decreased the number of common shares issued and outstanding from approximately 182.7 million shares to approximately 1.827 million shares as of March 12, 2015. The number of authorized shares of common stock and preferred stock remained the same following the 1:100 Reverse Stock Split. Unless otherwise noted, impacted amounts included in the consolidated financial statements and notes thereto have been retroactively adjusted for the stock splits as if such stock splits occurred on the first day of the first period presented. Impacted amounts include but are not limited to shares of common stock issued and outstanding, stock options, shares reserved, exercise prices of warrants or options, and loss per share. There was no impact on preferred or common stock authorized resulting from the 1:100 Reverse Stock Split.

Going_Concern

Going Concern	6 Months Ended
	Jan. 31, 2015
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 generating sufficient revenues and/or obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to generate sufficient revenues and/or 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.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jan. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies		3	Summary of Significant Accounting Policies
	Revenue Recognition
	The Company recognizes revenues from nonrefundable, up-front license fees related to collaboration agreements, including the $500,000 received in December 2014 with respect to the licensing agreement with Adapt Pharma Operations Limited, as being recognized as revenue upon receipt. With respect to investments in interests in treatments, if an agreement provides an option that allows the investor in the treatment to convert an interest in a treatment into shares of common stock of the Company, then revenue is deferred until such time that the option expires or milestones are achieved that eliminate the investor's right to exercise the option. 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. When the period of performance is based on the period over which research and/or development is expected to occur, the Company is required to make estimates regarding drug development timelines. Because of the many risks and uncertainties associated with the development of drug candidates, these estimates regarding the period of performance may change. In the event the investor chooses to convert interests into shares of common stock, that transaction will be accounted for similar to a sale of shares of common stock for cash.
	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.
	Recently Issued Accounting Pronouncements
	In August 2014, the Company elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to development stage.
	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	6 Months Ended
	Jan. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions		4	Related Party Transactions
	At January 31, 2015 and July 31, 2014, the Company had loans outstanding with its three directors (two of which are officers), in the total amount of $130,000 and $350,000, respectively. $220,000 of the principal amount was repaid during the quarter ended January 31, 2014. The loans mature on April 30, 2016 and are subject to annual interest of 14.5%, which includes a penalty rate of 8.5% due to non-payment of the required repayment amounts.

Deferred_Revenue

Deferred Revenue	6 Months Ended
	Jan. 31, 2015
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, September 8 and November 13, 2014, the Company made capital calls for $422,344, $444,530, and $1,033,614, respectively, from the foundation in exchange for 0.844687%, 0.88906%, and 2.067228% interests 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 includes the pre-tax profit received by the Company derived from the sale of 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 50,000 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 includes 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 62,500 shares of common stock in lieu of the 1.0% interest in the product.
	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 includes the pre-tax profit received by the Company derived from the sale of 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 FDA or an equivalent body in Europe and not marketed within 24 months the investor will have a 60 day option to receive 50,000 shares of common stock in lieu of the interest in the product.
	With respect to investments in interests in treatments, if an agreement provides an option that allows the investor in the treatment to convert an interest in a treatment into shares of common stock of the Company, then revenue is deferred until such time that the option expires or milestones are achieved that eliminate the investor's right to exercise the option. 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. When the period of performance is based on the period over which research and/or development is expected to occur, the Company is required to make estimates regarding drug development timelines. Because of the many risks and uncertainties associated with the development of drug candidates, these estimates regarding the period of performance may change. In the event the investor chooses to convert interests into shares of common stock, that transaction will be accounted for similar to a sale of shares of common stock for cash.

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Jan. 31, 2015
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 7,846 shares to consultants for services rendered. The shares have a fair value of $44,723 based on stock prices at issuance dates.
	In December 2014, the Company issued 24,015 shares to a company for services rendered. The shares have a fair value of $91,258 based on the stock prices at issuance dates.
	In January 2015, the Company issued a total of 5,000 shares to two consultants for services rendered. The shares have a fair value of $19,720 based on the 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 six months ended January 31, 2015 was $0.
	On August 2, 2014, the Company granted 30,000 stock options with an exercise price of $10.00 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 six months ended January 31, 2015. The assumptions used in the valuation were as follows:
	On November 12, 2014, the Company granted 30,000 stock options with an exercise price of $10.00 per share to a consultant for services rendered. These options have a term of 5 years and vest over 3 years. The Company has valued these options using the Black-Scholes option pricing model which resulted in a fair market value of $115,499, of which $9,625 has been fully recognized as expense for the six months ended January 31, 2015.
	On November 12, 2014, the Company granted 20,000 stock options with an exercise price of $15.00 per share to a consultant for services rendered. These options have a term of 5 years and vest over three years. The Company has valued these options using the Black-Scholes option pricing model which resulted in a fair market value of $76,999, of which $6,148 has been fully recognized as expense for the six months ended, January 31, 2015.
	On January 9, 2015, the Company granted 15,000 stock options with an exercise price of $10.00 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 $65,163 which have been fully recognized as expense for the six months ended January 31, 2015.
	On January 25, 2015, the Company granted 10,000 stock options with an exercise price of $10.00 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 $36,169 which have been fully recognized as expense for the six months ended January 31, 2015.
	The Company also recognized stock based compensation expense of $37,046 in connection with vested options granted in prior periods.
	The assumptions used in the valuation for all of the options granted for the six months ended January 31, 2015 were as follows:
	Market value of stock on measurement date		$	3.75 to 5.80
	Risk-free interest rate			1.28 to 1.73	%
	Dividend yield			0	%
	Volatility factor			204% to 413	%
	Term			5.0 years
	Stock option activity for six months ended January 31, 2015 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			3,047,500			9		8.56	$	12,000
	Granted			105,000			10		5
	Forfeited/expired/cancelled			-85,000			11.21		-
	Outstanding at January 31, 2015			3, 067,500			9		8.27	$	-
	Exercisable at January 31, 2015			1,570,416			10		8.19	$	-
	Warrants
	On December 16, 2015, the Company granted 38,800 stock options with an exercise price of $8.00 per share to a consultant for services rendered. These options have a term of 10 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 $144,724 which have been fully recognized as expense for the six months ended January 31, 2015.
	Warrant activity for quarter ended January 31, 2015 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			1,254,752			20		4.33	$	-
	Granted			38,800			8		-
	Exercised			-			-		-
	Outstanding at January 31, 2015			1,293,552			20		4.33	$	-
	Exercisable at January 31, 2015			568,552			20		4.08	$	-

Subsequent_Events

Subsequent Events	6 Months Ended
	Jan. 31, 2015
Subsequent Events [Abstract]
Subsequent Events		7	Subsequent Events
	On February 17, 2015, the Company made a capital call of $988,043 from the aforementioned foundation (see Note 5) in exchange for a 1.976085% interest in the Company's opioid overdose reversal treatment.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jan. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition
	The Company recognizes revenues from nonrefundable, up-front license fees related to collaboration agreements, including the $500,000 received in December 2014 with respect to the licensing agreement with Adapt Pharma Operations Limited, as being recognized as revenue upon receipt. With respect to investments in interests in treatments, if an agreement provides an option that allows the investor in the treatment to convert an interest in a treatment into shares of common stock of the Company, then revenue is deferred until such time that the option expires or milestones are achieved that eliminate the investor's right to exercise the option. 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. When the period of performance is based on the period over which research and/or development is expected to occur, the Company is required to make estimates regarding drug development timelines. Because of the many risks and uncertainties associated with the development of drug candidates, these estimates regarding the period of performance may change. In the event the investor chooses to convert interests into shares of common stock, that transaction will be accounted for similar to a sale of shares of common stock for cash.
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.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements
	In August 2014, the Company elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to development stage.
	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)	6 Months Ended
	Jan. 31, 2015
Stockholders' Equity [Abstract]
Schedule of Assumptions Used in the Valuation	Market value of stock on measurement date	$	3.75 to 5.80
	Risk-free interest rate		1.28 to 1.73	%
	Dividend yield		0	%
	Volatility factor		204% to 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		3,047,500			9		8.56	$	12,000
	Granted		105,000			10		5
	Forfeited/expired/cancelled		-85,000			11.21		-
	Outstanding at January 31, 2015		3, 067,500			9		8.27	$	-
	Exercisable at January 31, 2015		1,570,416			10		8.19	$	-
		Number of			Weighted-		Weighted-		Aggregate
		Shares			average		average		Intrinsic
					Exercise		Remaining		Value
					Price		Contractual
							Term (years)
	Outstanding at July 31, 2014		1,254,752			20		4.33	$	-
	Granted		38,800			8		-
	Exercised		-			-		-
	Outstanding at January 31, 2015		1,293,552			20		4.33	$	-
	Exercisable at January 31, 2015		568,552			20		4.08	$	-

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Details)	6 Months Ended
	Jan. 31, 2015	Mar. 12, 2015	Jul. 31, 2014
Conversion ratio for reverse stock split	0.01
Common stock, share issued (in Shares)	1,818,943	1,827,000	1,782,072
Common stock, shares outstanding (in Shares)	1,818,943	1,827,000	1,782,072
As Previously Reported [Member]
Common stock, shares outstanding (in Shares)	182,700,000

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	1 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Proceeds from up-front license fees	$500,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	6 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Jul. 31, 2014
Related Party Transaction [Line Items]
Due to related parties	$130,000		$350,000
Penalty rate	8.50%
Debt instrument, interest rate	14.50%
Repayments of related party debt	$220,000

Deferred_Revenue_Details

Deferred Revenue (Details) (USD $)	0 Months Ended
	Nov. 13, 2014	Oct. 31, 2014	Sep. 08, 2014	Sep. 09, 2014	Aug. 13, 2014	Jul. 22, 2014	Sep. 17, 2013
Deferred Revenue Arrangement [Line Items]
Proceeds from funding agreement	$1,033,614	$500,000	$444,530	$500,000	$422,344		$500,000
Interest in asset	2.07%	0.98%	0.89%	0.98%	0.84%		1.00%
Number of shares issuable		50,000		50,000			62,500
Deferred Revenue, Additions						$3,000,000

Stockholders_Equity_Common_Sto

Stockholders' Equity (Common Stock) (Details) (USD $)	1 Months Ended			6 Months Ended
	Jan. 31, 2015	Dec. 31, 2014	Aug. 31, 2014	Jan. 31, 2015	Nov. 26, 2014	Jul. 31, 2014
Stockholders' Equity [Abstract]
Common stock, share authorized (in Shares)	200,000,000			200,000,000	1,000,000,000	200,000,000
Stock issued for services, shares	5,000	24,015	7,846
Stock issued for services	$19,720	$91,258	$44,723	$155,701

Stockholders_Equity_Stock_Base

Stockholders' Equity (Stock Based Compensation) (Details) (USD $)	6 Months Ended	0 Months Ended
	Jan. 31, 2015	Aug. 02, 2014	Nov. 12, 2014	Jan. 09, 2015	Jan. 25, 2015	Dec. 16, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$0
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	105,000
Options granted, exercise price	$10
Dividend yield	0.00%
Term	5 years
Stock Option [Member] | August 2 Option Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted		30,000
Options granted, exercise price		$10
Expiration period		5 years
Stock based compensation expense	173,999
Stock Option [Member] | November 12 Option Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			30,000
Options granted, exercise price			$10
Expiration period			5 years
Vesting period			3 years
Fair value of options granted			115,499
Stock based compensation expense	9,625
Stock Option [Member] | November 12 Option Grant Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			20,000
Options granted, exercise price			$15
Expiration period			5 years
Vesting period			3 years
Fair value of options granted			76,999
Stock based compensation expense	6,148
Stock Option [Member] | January 9 Option Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted				15,000
Options granted, exercise price				$10
Expiration period				5 years
Stock based compensation expense	65,163
Stock Option [Member] | January 25 Option Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted					10,000
Options granted, exercise price					$10
Expiration period					5 years
Stock based compensation expense	36,169
Stock Option [Member] | Vested Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	37,046
Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of stock on measurement date	$3.75
Risk-free interest rate	1.28%
Volatility factor	204.00%
Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of stock on measurement date	$5.80
Risk-free interest rate	1.73%
Volatility factor	413.00%
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	38,800
Options granted, exercise price	$8
Term
Warrant [Member] | December 16 Option Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted						38,800
Options granted, exercise price						$8
Expiration period						10 years
Stock based compensation expense	$144,724

Stockholders_Equity_Schedule_o

Stockholders' Equity (Schedule of Outstanding Options and Warrants) (Details) (USD $)	6 Months Ended	12 Months Ended
	Jan. 31, 2015	Jul. 31, 2014
Options [Member]
Number of Shares
Outstanding, beginning balance	3,047,500
Granted	105,000
Forfeited/expired/cancelled	-85,000
Outstanding, ending balance	3,067,500	3,047,500
Exercisable	1,570,416
Weighted- average Exercise Price
Outstanding	$9
Granted	$10
Forfeited/expired/cancelled	$11.21
Outstanding	$9	$9
Exercisable	$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
Warrants [Member]
Number of Shares
Outstanding, beginning balance	1,254,752
Granted	38,800
Exercised
Outstanding, ending balance	1,293,552	1,254,752
Exercisable	568,552
Weighted- average Exercise Price
Outstanding	$20
Granted	$8
Exercised
Outstanding	$20	$20
Exercisable	$20
Weighted- average Remaining Contractual Term (years)
Granted
Outstanding	4 years 3 months 29 days	4 years 3 months 29 days
Exercisable	4 years 29 days
Aggregate Intrinsic Value
Outstanding
Exercisable

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	0 Months Ended
	Nov. 13, 2014	Oct. 31, 2014	Sep. 08, 2014	Sep. 09, 2014	Aug. 13, 2014	Sep. 17, 2013	Feb. 17, 2015
Subsequent Event [Line Items]
Proceeds from funding agreement	$1,033,614	$500,000	$444,530	$500,000	$422,344	$500,000
Interest in asset	2.07%	0.98%	0.89%	0.98%	0.84%	1.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from funding agreement							$988,043
Interest in asset							1.98%