6. Loans From Shareholders	12 Months Ended
Jul. 31, 2012
Notes
6. Loans From Shareholders	6. LOANS FROM SHAREHOLDERS The Company has a loan from a shareholder (who is also the Company’s CEO) of $19,338 which does not bear interest and is due on demand. The Company has recognized imputed interest in the amount of $1,172 in the year ended July 31, 2012 on the loan, which is included in interest expense and in additional paid-in capital, since the imputed interest is not payable. The company has loans from another shareholder and companies related to shareholders which arose in the year ended July 31, 2012 in the amount of $127,189, including accrued interest of $4,247. These loans are due on demand and bear interest at the rate of 8% per annum.

6. Loans From Shareholders

12 Months Ended

Jul. 31, 2012

6. LOANS FROM SHAREHOLDERS

The Company has a loan from a shareholder (who is also the Company’s CEO) of $19,338 which does not bear interest and is due on demand. The Company has recognized imputed interest in the amount of $1,172 in the year ended July 31, 2012 on the loan, which is included in interest expense and in additional paid-in capital, since the imputed interest is not payable.

The company has loans from another shareholder and companies related to shareholders which arose in the year ended July 31, 2012 in the amount of $127,189, including accrued interest of $4,247. These loans are due on demand and bear interest at the rate of 8% per annum.

MAGNUS INTERNATIONAL RESOURCES, INC. 10-K/A