Debt and Convertible Debt (Tables)

9 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Schedule of debt and convertible debt

Outstanding debt consisted of the following: (In thousands)	April 30,			July 31,
	2018			2017
Note payable, payable upon maturity, bearing interest of 12% per annum, maturing September 15, 2018, provided, however, the Company shall have the right to request that the maturity date to be extended by one (1) additional period of ninety (90) days, until December 14, 2018. (See details below)	$	250		$	-
Note payable, payable upon maturity, bearing interest of 12% per annum, maturing September 15, 2018, provided, however, the Company shall have the right to request that the maturity date to be extended by one (1) additional period of ninety (90) days, until December 14, 2018. (See details below)		250			-
Note payable, payable upon maturity, bearing interest of 6% per annum, maturing February 28, 2019. (See details below)		125			-
Note payable, payable upon maturity, bearing interest of 0.00% per annum, maturing May 14, 2018, with an automatic extension until June 14, 2018. (See details below)		650			-
Note payable to Thermo Credit, LLC., interest payment for the first twenty-three months with a balloon payment on the twenty-fourth month, maturing April 30, 2020, collateralized byShift8's accounts receivable. Bearing an annual interest rate of prime plus 5.25%, adjusted quarterly on the first of each calendar quarter. However the rate will never be less than 9.50% per annum, a commitment fee of 2% and monthly monitoring fee of .33% of the credit facility. Shift8 is required to maintain the following financial covenants: 1) A consolidated debt service coverage ratio, as of the last day of each fiscal quarter, of at least 1.25 to 1.00, 2) A fixed charge coverage ratio, as of the last day of each fiscal quarter, of at least 1.25 to 1.00, and 3) A tangible net worth, at all times of at least $100,000. (See details below)		500			-
Note payable, payable upon maturity, bearing interest of 12% per annum, maturing June 27,2018. (See details below)		348			-
Total outstanding debt	$	2,123		$	-
Less discount on debt		(93	)		-
Total debt net of discount		2,030			-
Less debt due within 12 months		(1,530	)		-
Long-term portion of debt	$	500		$	-