Income Taxes	3 Months Ended
Oct. 31, 2017
Income Taxes [Abstract]
Income Taxes	Note 12—Income Taxes The Company recorded no federal income tax expense for Fiscal 2018 and Fiscal 2017 because the estimated annual effective tax rate was zero. As of October 31, 2017, the Company continues to provide a valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be fully realized. The provision for both Fiscal 2018 and Fiscal 2017 represents state income taxes. The federal return of Straight Path for the year ended July 31, 2015 was audited by the Internal Revenue Service (“IRS”). The IRS made two adjustments which did not lead to any taxes being due or changes to the financial statements and as such the Company decided not to appeal them. The only change is to reduce our net operating loss carryforward.

Income Taxes

3 Months Ended

Oct. 31, 2017

Note 12—Income Taxes

The Company recorded no federal income tax expense for Fiscal 2018 and Fiscal 2017 because the estimated annual effective tax rate was zero. As of October 31, 2017, the Company continues to provide a valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be fully realized.

The provision for both Fiscal 2018 and Fiscal 2017 represents state income taxes.

The federal return of Straight Path for the year ended July 31, 2015 was audited by the Internal Revenue Service (“IRS”). The IRS made two adjustments which did not lead to any taxes being due or changes to the financial statements and as such the Company decided not to appeal them. The only change is to reduce our net operating loss carryforward.