Goodwill and Intangible Assets (Tables)

12 Months Ended

Jul. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consist of the following at:

		July 31,			July 31,
	Estimated Useful Lives	2020			2019
In-Process Research & Development		$	6,302,427		$	8,761,427
Non-compete agreements	3 years		1,210,000			1,210,000
Developed software/technology	5 years		131,000			131,000
Intellectual Property	5 years		2,459,000			—
Patents	20 years		51,274			51,274
			10,153,701			10,153,701
Less accumulated amortization			(788,175	)		(319,432	)
		$	9,365,526		$	9,834,269

Estimated amortization expense

The estimated amortization expense remainder of the current fiscal year and for the next five years and thereafter is as follows:

Year Ending July 31,	Amount
2021	$	923,897
2022		654,189
2023		520,564
2024		500,914
2025		458,202
Thereafter		5,334
Total	$	3,063,099

Changes in value of goodwill

Changes in the value of goodwill:

Balance as of July 31, 2018	$	—
Acquisition of Veneto (revaluation)		15,051,768
Acquisition of Regentys (revaluation)		13,834,581
Acquisition of Olaregen (revaluation)		9,411,224
Balance as of July 31, 2019	$	38,297,573
Acquisition of MediSource and Pantheon		603,553
Impairment of Veneto		(3,808,231	)
Impairment of MediSource and Pantheon		(603,553	)
Balance as of July 31, 2020	$	34,489,342