Fair Value, Commitments and Contingent Liabilities

12 Months Ended

Jul. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value, Commitments and Contingent Liabilities

Note 6.    Fair Value, Commitments and Contingent Liabilities

The Company had no financial instruments carried at fair value as of July 31, 2025. Financial instruments that were carried at fair value as of July 31, 2024, consisted of our investment in the common stock of Oragenics as follows:

	Fiscal Year Ended July 31, 2024
	Level 1		Level 2		Level 3		Total
Oragenics common stock	$	529,203	$	–	$	–	$	529,203

Valuation of Oragenics Common Stock

Our shares of Oragenics common stock were valued based on the quoted price on the NYSE American Stock Exchange.

Fair Value of Current Assets and Liabilities

The carrying values of Cash, Prepaid expenses and other current assets, Accounts payable and accrued wages, Accounts payable and accrued wages, officers, Accrued interest and Notes payable approximate their fair value due to their short maturities.

Contingent Liabilities

At July 31, 2025 and 2024, we had contingent consideration related to the acquisition of intellectual property, know-how and patents for an anti-choking, life-saving medical device in fiscal 2019. According to the agreement, we will make a one-time cash payment totaling $250,000 upon FDA clearance of the device. The fair value of the contingent consideration is reviewed quarterly and determined based on the current status of the project (Level 3). We determined the value was zero at both periods since it is not yet probable that we will file for FDA clearance.

We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during the fiscal years ended July 31, 2025 or 2024.