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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Operating activities    
Consolidated net loss $ (65,003) $ (2,215)
Less: Income from discontinued operations 6,478
Loss from continuing operations (65,003) (8,693)
Adjustments to reconcile consolidated net loss to net cash used in operating activities    
Depreciation and amortization 225 78
Gain on sale of property and equipment (27)
Net unrealized gain on investment - Hedge Funds (63) (220)
Unrealized gain on equity securities (33)
Realized loss on investment in equity securities 46
Realized gain on available-for-sale securities (1,772) (154)
Amortization of discount on available-for-sale securities (1,891) (1,195)
Impairment of investments - Other Pharmaceuticals 334
Loss on initial investment in Day Three upon acquisition 1,633
Realized gain in equity investments - Cyclo (424)
Unrealized gain in equity investments - Cyclo (37) (2,663)
Unrealized gain on convertible notes receivable, due from Cyclo (1,191)
Recovery of receivables from Cornerstone (31,305)
In-process research and development expense 89,861
Gain on dissolution of a business 18
Equity in loss of Day Three 422 203
Bad debt expense 20
Stock-based compensation 2,296 2,188
Change in assets and liabilities, net of effects from acquisitions and discontinued operations:    
Trade accounts receivable (150) (117)
Interest receivable (139) (247)
Prepaid expenses and other current assets 673 373
Other assets 22 (27)
Accounts payable and accrued expenses (146) (827)
Other current liabilities (938) 781
Due to related parties 138 (43)
Other liabilities (70) 15
Net cash used in continuing operations (7,802) (10,247)
Net cash used in discontinued operations (639)
Net cash used in operating activities (7,802) (10,886)
Investing activities    
Purchase of property and equipment (143)
Purchases of available-for-sale securities (155,657) (204,798)
Proceeds from the sale and maturities of available-for-sale securities 153,352 185,121
Proceeds from Day Three patent sale 270
Purchase of intangible assets (35)
Proceeds from sales of equity securities 271 1,325
Issuance of Convertible Notes, Due from Cyclo (4,000)
Issuance of convertible note receivable, related party (2,000)
Purchase of Investment in Day Three (3,000)
Purchase of Investment in Cyclo (6,786) (2,100)
Issuance of convertible note receivable (1,000)
Issuance of Day Three Promissory Notes (1,989)
Proceeds from investments - Other Pharmaceuticals 42 78
Purchases of equity securities (1,586)
Cash acquired in acquisition of Day Three, net of cash payments 1,099
Cash acquired in the Cornerstone Acquisition, net of cash payments 1,256
Proceeds from hedge funds 2,500
Net cash used in investing activities of continuing operations (10,820) (26,960)
Proceeds from sale of 520 Property - discontinued operations 49,400
Payment of transaction costs for sale of 520 Property - discontinued operations (1,229)
Net cash provided by investing activities of discontinued operations 48,171
Net cash (used in) provided by investing activities (10,820) 21,211
Financing activities    
Principal payments on installment note payable (800)
Payments for taxes related to shares withheld for employee taxes (136) (218)
Purchases of treasury stock (168)
Proceeds from sale of Rafael Medical Devices membership units 925
Net cash used in financing activities of continuing operations (179) (218)
Payment of Note Payable in connection with sale of 520 Property - discontinued operations (15,000)
Net cash used in financing activities of discontinued operations (15,000)
Net cash used in financing activities (179) (15,218)
Effect of exchange rate changes on cash and cash equivalents (22) (146)
Net decrease in cash and cash equivalents (18,823) (5,039)
Cash and cash equivalents, beginning of year 21,498 26,537
Cash and cash equivalents, end of year 2,675 21,498
Non-cash supplemental disclosure    
Acquisition of additional ownership interest in LipoMedix 16
Conversion of RFL Line of Credit into Cornerstone Common Stock 37,845
Conversion of 2023 Promissory Note into Cornerstone Common Stock 2,663
Recognition of noncontrolling interest in the Cornerstone Acquisition 27,501
Recognition of noncontrolling interest in the RP Finance Consolidation, net of elimination 9,585
Gain on RP Finance Consolidation recorded as an adjustment to additional paid-in capital due to related party nature of transaction, net of elimination 5,751
Noncash consideration received in exchange for equipment 34
Elimination of principal and accrued interest on the Day Three Promissory Notes included in consideration for acquisition of Day Three $ 2,000