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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2013

Income Tax Disclosure [Abstract]

Components of deferred tax assets

Deferred tax assets (liabilities) consist of the following at January 31:

		2013				2012
NOL carry forward		$	3,967,114			$	849,591
Stock options - exercisable			741,971				81,775
Contribution carryforward			8,740				6,970
Warrant liability			-				51,408
State income taxes			544				1,247
Accrual to cash			(243,300	)			(76,500	)
State income taxes, deferred			(310,478	)			(71,035	)
Impairment loss			-				89,964
Other, net			-				-
Net Deferred Tax Assets			4,164,591				933,420
Valuation Allowance			(4,164,591	)			(933,420	)
		$	-			$	-

Provision for income taxes

The provision for income taxes differs from the amount computed by applying the federal income tax rate as follows for the year ended January 31:

		2013				2012
Tax computed at the statutory rate (34%)			0.34	%			0.34	%
Stock options			(0.06	)%			(0.01	)%
Accrual to cash			-	%			0.01	%
Warrant liability			-	%			(0.05	)%
Impairment Loss			-	%			(0.08	)%
Non-cash stock compensation			-	%			(0.06	)%
Change in valuation			(0.28	)%			(0.15	)%
			-	%			-	%

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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