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Subsequent Events
12 Months Ended
Jul. 31, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 22 – SUBSEQUENT EVENTS

 

Issuance of Class B Common Stock

 

On August 28, 2023, the Company granted 111,408 restricted shares of Class B common stock of the Company to Howard Jonas, the Chairman of the Board and Executive Chairman and former Chief Executive Officer of the Company and Member of the Board of Cornerstone Pharmaceuticals, pursuant to his employment agreement.

 

Rafael Medical Devices, LLC outside party investment

 

During the fourth quarter of the year ended July 31, 2023, the Company received $825 thousand as a deposit from outside third party investors for the purchase of membership units of Rafael Medical Devices, LLC. On August 1, 2023, the Company received an additional $100 thousand and closed on the sale of units in exchange of $925 thousand, whereby the Company will now hold 53.4% (on a fully diluted basis) ownership interests in Rafael Medical Devices, LLC. As of July 31, 2023, the Company recorded the funds received within prepaid expenses and other current assets and other current liabilities within the consolidated balance sheets.