Stock-Based Compensation (Tables)

9 Months Ended

Apr. 30, 2020

Share-based Payment Arrangement [Abstract]

Common stock options granted, forfeited or expired and exercised

The following is a summary of the common stock options granted, forfeited or expired and exercised under the Plan:

	Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Life (Years)		Aggregate Intrinsic Value
Outstanding - July 31, 2019		8,116,495		$	0.84		7.21	$	15,961,391
Granted		1,404,200		$	1.49		4.42		—
Forfeited or expired		(642,500	)	$	0.79		5.78		—
Exercised		—			—		—		—
Outstanding – April 30, 2020		8,878,195		$	0.93		6.20	$	439,979

Fair value assumptions used in Black-Scholes option-pricing

The following assumptions were used in the Black-Scholes option-pricing model:

	April 30, 2020
Exercise price		$1.44 – 1.49
Time to expiration		5 years
Risk-free interest rate		1.51% - 1.59	%
Estimated volatility		153.4	%
Expected dividend		—
Stock price at valuation date		$1.44 – 1.49