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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2021
Jul. 31, 2020
OPERATING REVENUES:    
Cloud software and service revenue $ 12,416 $ 6,279
Total operating revenues 12,416 6,279
OPERATING EXPENSES:    
Cost of services (exclusive of depreciation and amortization) 5,135 3,035
Selling, general and administrative expense 7,019 4,106
Legal and professional fees 894 642
Bad debt expense (recovery) 17 (5)
Depreciation and amortization expense 1,749 613
Total operating expenses 14,814 8,391
OPERATING LOSS (2,398) (2,112)
OTHER INCOME (EXPENSE):    
Gain (loss) on derivative instruments (9,935) 263
Gain on settlement of debt 560 129
Income tax benefit (expense) (183) 33
Other income (expense) (294) 116
Interest expense (4,765) (1,853)
Total other income (expense) (14,617) (1,312)
NET LOSS INCLUDING NONCONTROLLING INTEREST (17,015) (3,424)
Less: Net loss attributable to the noncontrolling interests 332 47
NET LOSS ATTRIBUTABLE TO DIGERATI’S SHAREHOLDERS (16,683) (3,377)
Deemed dividend on Series A Convertible preferred stock (20) (19)
NET LOSS ATTRIBUTABLE TO DIGERATI’S COMMON SHAREHOLDERS $ (16,703) $ (3,396)
LOSS PER COMMON SHARE - BASIC (in Dollars per share) $ (0.13) $ (0.06)
LOSS PER COMMON SHARE - DILUTED (in Dollars per share) $ (0.13) $ (0.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC (in Shares) 129,411,947 53,883,966
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in Shares) 129,411,947 53,883,966