XML 27 R12.htm IDEA: XBRL DOCUMENT

AGREEMENT WITH GREEN ERA LTD.	9 Months Ended
Apr. 30, 2013
Agreement With Green Era Ltd.
Note 6 - AGREEMENT WITH GREEN ERA LTD.	On February 17, 2011, we entered into a license agreement with GreenEra, Ltd., (“GreenEra”), a company formed under the laws of the Cyprus Republic, 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. GreenEra acquired these rights from the landowner in 2009. These rights expire on December 28, 2044. Explanation of additional rights and obligations associated with this agreement can be found in our 10-K annual report as of July 31, 2012, filed October 26, 2012 and are herein incorporated by reference. As of April 30, 2013, we have accrued $125,000 of costs on this contract and have made no cash payments to GreenEra. For the nine months ended April 30, 2013, we have imputed $4,659 of interest on the unpaid balance, charging Interest Expense and increasing Additional Paid in Capital.

AGREEMENT WITH GREEN ERA LTD.

9 Months Ended

Apr. 30, 2013

On February 17, 2011, we entered into a license agreement with GreenEra, Ltd., (“GreenEra”), a company formed under the laws of the Cyprus Republic, 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. GreenEra acquired these rights from the landowner in 2009. These rights expire on December 28, 2044.

Explanation of additional rights and obligations associated with this agreement can be found in our 10-K annual report as of July 31, 2012, filed October 26, 2012 and are herein incorporated by reference.

As of April 30, 2013, we have accrued $125,000 of costs on this contract and have made no cash payments to GreenEra. For the nine months ended April 30, 2013, we have imputed $4,659 of interest on the unpaid balance, charging Interest Expense and increasing Additional Paid in Capital.