Share-Based Compensation (Tables)

3 Months Ended

Oct. 31, 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, 2017		5,759,843	$	1.25	$	1,120,000
Granted		200,000	$	1.21
Exercised		—	$	—
Cancelled		—	$	—
Outstanding at October 31, 2017		5,959,843	$	1.25	$	544,000

Schedule of Fair Value Assumptions

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

	For the three months ended October 31,
	2017			2016
Volatility		86.98	%		74.71	%
Risk-free interest rate		1.80	%		0.93	%
Dividend yield		0.0	%		0.0	%
Expected life		5.45	years		2.81	years