Don't get too excited, it was $27,000. And since the note was convertible into shares, they probably didn't want any more selling pressure on the stock. Funny how they never quite give the entire story in their 8Ks.
"Additionally, on November 17, 2010, the Company borrowed $55,000 from an investor under a convertible promissory note at an annual interest rate of 8%. As of July 31, 2011, the Company accrued interest payable of $4,693. The conversion features of the note require derivative accounting treatment. During the three months ended July 31, 2011, the Company issued an aggregate of 24,090,909 shares of common stock in settlement of $28,000 of the convertible promissory note with a remaining outstanding balance as of July 31, 2011 of $27,000. See note 11 - Derivative Liability."
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