Share-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Option Activity

A summary of our stock option activity for the fiscal year ended July 31, 2016 and 2015 is as follows:

	Shares			Weighted- Average Exercise Price		Aggregate Intrinsic Value
Outstanding at July 31, 2014		462,343		$	3.95	$	22,000
Granted		—		$	—
Exercised		—		$	—
Cancelled		(28,125	)	$	2.20
Outstanding at July 31, 2015		434,218		$	4.07	$	—
Granted		1,850,000		$	1.07
Exercised		—		$	—
Cancelled		(6,250	)	$	14.72
Outstanding at July 31, 2016		2,277,968		$	1.60	$	46,000

Schedule of Fair Value Assumptions

The fair value of stock options was estimated at the grant date using the following weighted average assumptions:

	July 31, 2016
Volatility		82.12	%
Risk-free interest rate		0.83	%
Dividend yield		0.0	%
Expected life		2.13 years