Acquisition of Hema Diagnostics Systems, LLC (Tables)

6 Months Ended

Jan. 31, 2017

Business Combinations [Abstract]

Net purchase price of HDS

	Stock Price at Closing		Shares		Fair Value
Purchase price:
Common Stock at closing	$	4.77		53,191	$	253,721
Common Stock after closing	$	4.77		20		95
Common Stock post reverse stock split	$	4.77		230,000		1,097,100
Net purchase price					$	1,350,916

Preliminary purchase price allocation of HDS

Purchase price allocation:
Net assets of HDS			(13,642,900	)
Non-controlling interest			(1,297,939	)
In-Process Research & Development			1,955,932
Goodwill			14,335,823
Total Purchase Price	51% Ownership	$	1,350,916
Non-controlling interest	49% Ownership	$	1,297,939

Carrying amount of goodwill and other intangible assets

	Total			Goodwill			Other Intangibles, net
Balance as of July 31, 2016	$	—		$	—		$	—
Acquisition of HDS		16,291,754			14,335,822			1,955,932
Current year amortization		—			—			—
Impairment of goodwill		(14,335,822	)		(14,335,822	)		—
Balance as of January 31, 2017	$	1,955,932		$	—		$	1,955,932