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INCOME TAXES
 3 Months Ended
Oct. 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 $479,000 at October 31, 2012 resulting in a potential tax benefit of approximately $186,769.

 

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

 

    October 31, 2012     Jul 31, 2012  
Net operating loss carry-forwards     186,769       164,333  
Valuation allowance     (186,769 )     (164,333 )
Net deferred tax asset   $ 0     $ 0