Income Taxes (Tables)

12 Months Ended

Jul. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Federal Income Tax Rate and Income Taxes

The difference between income taxes at the statutory federal income tax rate of 21% in 2018 and 34% in 2017 and income taxes reported in the consolidated comprehensive statements of operations are attributable to the following (in thousands):

	July 31, 2018			July 31, 2017
Income tax benefit at the federal statutory rate	$	(95	)	$	(166	)
State and local income taxes, net of effect of federal taxes		(20	)		10
Stock-based compensation		-			272
Tax Reform – Reduction in tax rate		2,013			-
Decrease in valuation allowance		(1,898	)		(116	)
Provision for income tax	$	-		$	-

Schedule of Deferred Tax Assets

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets consist of the following (in thousands):

	July 31, 2018			July 31, 2017
Federal and State net operating loss	$	4,146		$	5,988
Foreign net operating loss		18			18
Stock-based compensation and other		116			173
		4,281			6,179
Less: Valuation allowance		(4,281	)		(6,179	)
Net deferred tax asset	$	–		$	–