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v2.4.0.6
Note 11. Commitments and Contingencies
12 Months Ended
Jul. 31, 2012
Commitments and Contingencies Disclosure [Text Block]
Note 11. Commitments and Contingencies

The Company entered into a month to month lease agreement with Li-ion Motors Corp. for 5,000 square feet within Li-ion Motors’ Mooresville facility on April 16, 2008, at the rate of $3,038. Approximately 80% of this space had been converted into offices and a battery development workshop including a dry room. However, on May 31, 2012, Li-ion Motors closed the facility and terminated the Company’s lease.

Rent expense for the years ended July 31, 2012 and 2011, was $32,083 and $42,625, respectively.