Acquisition of Hema Diagnostics Systems, LLC (Tables)

12 Months Ended

Jul. 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
Total purchase price					$	1,350,916

Preliminary purchase price allocation of HDS

Cash and cash equivalents			12,363
Accounts receivable, net			980
Inventory, net			21,141
Other current assets			91,474
Property and equipment, net			4,249
Other assets, net			39,675
Accounts payable and accrued expenses			(489,390	)
Loan to related parties			(13,323,391	)
Net assets of HDS			(13,642,899	)
Non-controlling interest			(1,297,939	)
In-Process Research & Development			2,911,377
Goodwill			13,380,377
Total Purchase Price	51% Ownership	$	1,350,916

Fair Value Assumptions Used in Accounting for Warrants

	July 31, 2017
Exercise price		2.50
Time to expiration		4.47 years
Risk-free interest rate		1.84	%
Estimated volatility		122.7	%
Dividend		—
Stock price at valuation date	$	5.05

Fair Value Assumptions Used in Accounting for Call Options

	July 31, 2017
Risk-free interest rate		1.34	%
Estimated volatility		143.9	%
Remaining Term		2.47
Stock price at valuation date	$	5.05

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			13,380,377			2,911,377
Current year amortization		—			—			—
Impairment of goodwill		(13,380,377	)		(13,380,377	)		—
Balance as of July 31, 2017	$	2,911,377		$	—		$	2,911,377