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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jan. 31, 2022
Jul. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 2,844 $ 1,489
Accounts receivable, net 616 617
Prepaid and other current assets 226 232
Total current assets 3,686 2,338
LONG-TERM ASSETS:    
Intangible assets, net 11,836 8,527
Goodwill 5,273 3,931
Property and equipment, net 503 529
Other assets 80 76
Investment in Itellum 185 185
Right-of-use asset 887 934
Total assets 22,450 16,520
CURRENT LIABILITIES:    
Accounts payable 2,291 1,653
Accrued liabilities 2,892 2,570
Equipment financing 19 37
Convertible note payable, current, net $180 and $340, respectively 2,008 1,049
Note payable, current, related party, net $0 and $0, respectively 1,186 998
Note payable, current, net $0 and $714, respectively 50 2,963
Acquisition payable 1,000
Deferred income 3 20
Derivative liability 15,824 16,773
Operating lease liability, current 515 503
Total current liabilities 25,788 26,566
LONG-TERM LIABILITIES:    
Notes payable, related party, net $0 and $0, respectively 200 136
Note payable, net $0 and $4,641, respectively 22,247 6,241
Operating lease liability 372 431
Total long-term liabilities 22,819 6,808
Total liabilities 48,607 33,374
Commitments and contingencies
STOCKHOLDERS’ DEFICIT:    
Preferred stock, $0.001, 50,000,000 shares authorized Convertible Series A Preferred stock, $0.001, 1,500,000 shares designated, 225,000 and 225,000 issued and outstanding, respectively
Convertible Series B Preferred stock, $0.001, 1,000,000 shares designated, 425,442 and 425,442 issued and outstanding, respectively
Convertible Series C Preferred stock, $0.001, 1,000,000 shares designated, 55,400 and 55,400 issued and outstanding, respectively
Series F Super Voting Preferred stock, $0.001, 100 shares designated, 100 and 100 issued and outstanding, respectively
Common stock, $0.001, 500,000,000 shares authorized, 139,738,039 and 138,538,039 issued and outstanding, respectively (25,000,000 reserved in Treasury) 139 139
Additional paid in capital 89,175 89,100
Accumulated deficit (113,998) (105,380)
Other comprehensive income 1 1
Total Digerati’s stockholders’ deficit (24,683) (16,140)
Noncontrolling interest (1,474) (714)
Total stockholders’ deficit (26,157) (16,854)
Total liabilities and stockholders’ deficit $ 22,450 $ 16,520