Income Taxes (Tables)

12 Months Ended

Jul. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Loss before Income Taxes

The components of loss from continuing operations before income taxes are as follows:

	For the Years Ended July 31,
	2023			2022
	(in thousands)
Domestic	$	(6,056	)	$	(137,978	)
Foreign		(2,689	)		(1,994	)
Loss before income taxes	$	(8,745	)	$	(139,972	)

Schedule of Consolidated Statements of Operations and Comprehensive Loss

Benefit from income taxes as presented in the consolidated statements of operations and comprehensive loss consisted of the following:

	For the Year Ended July 31,
	2023			2022
	(in thousands)
Current:
Foreign	$	19		$	—
Federal		—			—
State		(274	)		—
Total current expense (benefit)		(255	)		—
Deferred:
Foreign		—			—
Federal		—			—
State		—			—
Total deferred expense		—			—
Benefit from income taxes	$	(255	)	$	—

Schedule of U.S. Federal Statutory Income Tax Rate

The differences between income taxes expected at the U.S. federal statutory income tax rate attributable to pretax loss from continuing operations and income taxes attributable to pretax loss from continuing operations are reported as follows:

	At July 31,
	2023			2022
	(in thousands)
U.S. federal income tax at statutory rate	$	(1,877	)	$	(29,514	)
State income tax		(479	)		(8,752	)
Valuation allowance		2,958			35,001
Foreign tax rate differential		(583	)		(459	)
Tax law change		—			—
Permanent differences		—			3,632
Rate change		—			—
Sale of state NOLs		(274	)		-
Other		-			92
Benefit from income taxes	$	(255	)	$	—

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and deferred tax liabilities are as follows:

	At July 31,
	2023			2022
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	17,852		$	15,170
Unrealized gain/loss		30,236			31,850
Depreciation		(1	)		1
R&D amortization		689			-
Reserves and accruals		237			236
Stock-based compensation		1,858			1,839
Gross deferred tax assets		50,871			49,096
Less valuation allowance		(50,871	)		(49,096	)
Total deferred tax assets		—			—
Total deferred tax liabilities		—			—
Deferred tax assets, net	$	—		$	—