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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Operating activities    
Consolidated net loss $ (2,215) $ (142,377)
Less: Income (loss) from discontinued operations 6,478 (1,830)
Loss from continuing operations (8,693) (140,547)
Adjustments to reconcile consolidated net loss to net cash used in operating activities    
Depreciation and amortization 78 72
Net unrealized (gain) loss on investments - Hedge Funds (220) 504
Unrealized gain on equity securities (33)
Unrealized gain in equity investments - Cyclo Therapeutics Inc. (2,663)
Realized (gain) loss on available-for-sale securities (154) 45
Amortization of discount on available-for-sale securities (1,195)
Impairment of investments - Other Pharmaceuticals 334
Impairment of cost method investment - Cornerstone Pharmaceuticals 79,141
Provision for loss on receivable from Cornerstone Pharmaceuticals pursuant to line of credit 25,000
Equity in loss of RP Finance 575
Equity in loss of Day Three Labs Inc. 203
Provision for losses on related party receivables 10,095
Provision for doubtful accounts 4
Stock-based compensation, net 2,188 (917)
Change in assets and liabilities, net of effects from discontinued operations:    
Trade accounts receivable (117) 74
Interest receivable (247) (140)
Prepaid expenses and other current assets 373 (3,545)
Other assets (27) 130
Accounts payable and accrued expenses (827) 52
Other current liabilities 781 3,566
Due to related parties (43) (67)
Due from Cornerstone Pharmaceuticals (120)
Other liabilities 15 40
Net cash used in continuing operations (10,247) (26,038)
Net cash used in discontinued operations (639) (41)
Net cash used in operating activities (10,886) (26,079)
Investing activities    
Payment to Cornerstone Pharmaceuticals pursuant to Line of Credit (25,000)
Purchases of property and equipment (2)
Payment to fund RP Finance Line of Credit (1,875)
Purchases of available-for-sale securities (204,798) (65,306)
Proceeds from the sale and maturities of available-for-sale securities 185,121 28,500
Issuance of convertible note receivable, related party (2,000)
Proceeds from investments - Other Pharmaceuticals 78
Purchases of equity securities (1,586)
Proceeds from sales of equity securities 1,325
Purchase of Investment in Day Three Labs Inc. (3,000)
Purchase of Investment in Cyclo Therapeutics Inc. (2,100)
Net cash used in investing activities of continuing operations (26,960) (63,683)
Net cash provided by (used in) investing activities of discontinued operations 48,171 (113)
Net cash provided by (used in) investing activities 21,211 (63,796)
Financing activities    
Proceeds from issuance of common stock 99,170
Proceeds from issuance of common stock from related party 10,997
Payment of transaction costs incurred in connection with sale of common stock (6,228)
Payments for taxes related to shares withheld for employee taxes (218) (75)
Net cash (used in) provided by continuing operations (218) 103,864
Net cash used in financing activities of discontinued operations (15,000)
Net cash (used in) provided by financing activities (15,218) 103,864
Effect of exchange rate changes on cash and cash equivalents (146) (306)
Net (decrease) increase in cash and cash equivalents (5,039) 13,683
Cash and cash equivalents, beginning of year 26,537 12,854
Cash and cash equivalents, end of year 21,498 26,537
Non-cash supplemental disclosure    
Acquisition of additional ownership interest in LipoMedix $ 16 $ 8