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COMMITMENTS AND CONTINGENCIES
12 Months Ended
Jul. 31, 2012
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

NOTE 10 – COMMITMENTS AND CONTINGENCIES

 

On February 17, 2011, we entered into an agreement with GreenEra, Ltd. to acquire the rights of exploitation of a 60,000 hectares (approximately 150,000 acres) of forest land in Novo Aripuana, State of Amazones, Brazil (see Note 6). This agreement obligates us to pay $5,000 per month for approximately 34 years.

 

Payout on this contract over the next five years is $60,000 per year.