Share-Based Compensation (Tables)

9 Months Ended

Apr. 30, 2017

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

Schedule of Stock Option Activity

A summary of our stock option activity is as follows:

	Shares			Weighted- Average Exercise Price		Aggregate Intrinsic Value
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	$	48,000
Granted		1,735,000		$	0.89
Exercised		—		$	—
Cancelled		(253,125	)	$	1.42
Outstanding at April 30, 2017		3,759,843		$	1.29	$	222,000

Schedule of Fair Value Assumptions

The fair value of options granted is estimated at the date of grant using the following weighted average assumptions for the three and nine months ended April 30, 2017 and 2016:

	Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
	April 30, 2017			April 30, 2016			April 30, 2017			April 30, 2016
Volatility		74.10	%		82.36	%		74.13	%		84.20	%
Risk-free interest rate		1.51	%		0.67	%		1.48	%		0.70	%
Dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life		2.88 years			1.62 years			2.87 years			1.73 years