Stockholders' Equity

12 Months Ended

Jul. 31, 2015

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 16. Stockholders’ Equity

Upon completion of the reverse merger between Valley Forge and Synergetics on September 22, 2005, the Company reincorporated in Delaware, decreased the par value of common stock from $0.01 2/3 to $0.001, increased the authorized common shares to 50,000,000 and eliminated the outstanding treasury shares.

The holders of common stock have no preemptive rights and the common stock has no redemption, sinking fund or conversion provisions.  Each share of common stock is entitled to one vote on any matter submitted to the holders and to equal rights in the assets of the Company upon liquidation.  All of the outstanding shares of common stock are fully paid and nonassessable.

In addition to shares issued under employee and director compensation plans, 13,958 shares were granted to advisory consultants under the 2001 Plan during the fiscal year ended July 31, 2015.