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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Oct. 31, 2021
Jul. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 1,646 $ 1,489
Accounts receivable, net 471 617
Prepaid and other current assets 218 232
Total current assets 2,335 2,338
LONG-TERM ASSETS:    
Intangible assets, net 8,093 8,527
Goodwill, net 3,931 3,931
Property and equipment, net 499 529
Other assets 79 76
Investment in Itellum 185 185
Right-of-use asset 822 934
Total assets 15,944 16,520
CURRENT LIABILITIES:    
Accounts payable 1,937 1,653
Accrued liabilities 2,703 2,570
Equipment financing 28 37
Convertible note payable, current, net $212 and $340, respectively 1,477 1,049
Note payable, current, related party, net $0 and $0, respectively 1,000 998
Note payable, current, net $286 and $714, respectively 3,438 2,963
Deferred income 3 20
Derivative liability 12,340 16,773
Operating lease liability, current 478 503
Total current liabilities 23,404 26,566
LONG-TERM LIABILITIES:    
Notes payable, related party, net $0 and $0, respectively 136
Note payable, net $4,293 and $4,641, respectively 6,727 6,241
Operating lease liability 344 431
Total long-term liabilities 7,071 6,808
Total liabilities 30,475 33,374
Commitments and contingencies
STOCKHOLDERS’ DEFICIT:    
Preferred stock, $0.001, 50,000,000 shares authorized Convertible Series A Preferred stock, $0.001, 1,500,000 shares designated, 225,000 and 225,000 issued and outstanding, respectively
Convertible Series B Preferred stock, $0.001, 1,000,000 shares designated, 425,442 and 0 issued and outstanding, respectively
Convertible Series C Preferred stock, $0.001, 1,000,000 shares designated, 55,400 and 0 issued and outstanding, respectively
Series F Super Voting Preferred stock, $0.001, 100 shares designated, 100 and 0 issued and outstanding, respectively
Common stock, $0.001, 500,000,000 shares authorized, 139,138,039 and 138,538,039 issued and outstanding, respectively (25,000,000 reserved in Treasury) 139 139
Additional paid in capital 89,157 89,100
Accumulated deficit (102,956) (105,380)
Other comprehensive income 1 1
Total Digerati’s stockholders’ deficit (13,659) (16,140)
Noncontrolling interest (872) (714)
Total stockholders’ deficit (14,531) (16,854)
Total liabilities and stockholders’ deficit $ 15,944 $ 16,520