Income Taxes (Tables)

12 Months Ended

Jul. 31, 2014

Income Taxes [Abstract]

Summary of (benefit from) provision for income taxes

Year ended July 31  (in thousands)	2014			2013
Current:
Federal	$	(21	)	$	(560	)
State and local		(6	)		(113	)
		(27	)		(673	)
Deferred:
Federal		(1,925	)		560
State and local		(401	)		121
		(2,326	)		681
(BENEFIT FROM) PROVISION FOR INCOME TAXES	$	(2,353	)	$	8

Summary of deferred income tax assets

July 31  (in thousands)	2014			2013
Deferred income tax assets:
Current:
Accrued expenses	$	333		$	177
Stock based compensation		51			—
Deferred revenue on litigation settlements		2,079			—
Valuation allowance		(71	)		(177	)
TOTAL CURRENT DEFERRED INCOME TAX ASSETS	$	2,392		$	—
Non-Current:
Deferred revenue on litigation settlements	$	313		$	—
Stock based compensation		104			—
Net operating loss carryforward		50,120			50,620
Valuation allowance		(50,120	)		(50,620	)
TOTAL NON-CURRENT DEFERRED INCOME TAX ASSETS	$	417		$	—

Schedule of differece between income taxes expected at the federal statutory income tax rate and income taxes provided

Year ended July 31  (in thousands)	2014			2013
Federal income tax at statutory rate	$	(99	)	$	1,445
Valuation allowance		(2,250	)		(1,445	)
State and local income tax, net of federal benefit		(4	)		8
(BENEFIT FROM) PROVISION FOR INCOME TAXES	$	(2,353	)	$	8

Schedule of change in the valuation allowance for deferred income taxes

Year ended July 31  (in thousands)	Balance  at beginning of year		Additions charged to costs and expenses		Deductions			Balance at  end of year
2014
Reserves deducted from deferred income taxes, net:
Valuation allowance	$	50,797	$	—	$	(606	)	$	50,191
2013
Reserves deducted from deferred income taxes, net:
Valuation allowance	$	49,982	$	815	$			$	50,797