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INCOME TAXES
 6 Months Ended
Jan. 31, 2012
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

NOTE 4 – INCOME TAXES

 

 

The Company has tax losses which may be applied against future taxable income. The potential tax benefits arising from these loss carry-forwards expire beginning in 2029 and are offset by a valuation allowance due to the uncertainty of profitable operations in the future. The estimated net tax loss carry-forward was approximately $307,000 at January 31, 2012 resulting in a potential tax benefit of approximately $119,760.

 

The significant components of the deferred tax asset as of January 31, 2012 and July 31, 2011 are as follows:

 

 

      Jan 31, 2012       Jul 31, 2011  
Net operating loss carry-forwards     119,760       62,537  
Valuation allowance     (119,760 )     (62,537 )
Net deferred tax asset   $ -     $ -