Straight Path Communications 10-Q 9 Jun 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Apr. 30, 2017	Jun. 09, 2017
Entity Registrant Name	Straight Path Communications Inc.
Entity Central Index Key	1,574,460
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Document Type	10-Q
Trading Symbol	STRP
Document Period End Date	Apr. 30, 2017
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017
Entity Filer Category	Accelerated Filer
Class A Common Stock
Entity Common Stock, Shares Outstanding		787,163
Class B Common Stock
Entity Common Stock, Shares Outstanding		11,910,896

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2017	Jul. 31, 2016
Current assets:
Cash and cash equivalents	$ 14,555	$ 11,361
Trade accounts receivable, net of allowance for doubtful accounts of $7 and $0, respectively	68	40
Inventory	1,669
Assets held for sale - Intellectual Property Business	33
Prepaid expenses and other current assets	183	1,627
Total current assets	16,508	13,028
Prepaid expenses - related to the sale of Spectrum Business to Verizon	2,856
Prepaid expenses - related to the sale of IP Business to IDT	1,054
Intangible assets	365	365
Other assets	164	104
Total Assets	20,947	13,497
Current liabilities:
Trade accounts payable	5,238	684
Accrued expenses	916	1,042
Liabilities held for sale - Intellectual Property Business	329
Loans payable, net of debt discount of $2,119 and $0, respectively	10,256
FCC consent decree payable	7,000
Deferred revenue	132	73
Income taxes payable		225
Total current liabilities	23,871	2,024
Settlement payable - stockholders	7,200
Deferred revenue - long-term portion	75	92
Total liabilities	31,146	2,116
Commitments and contingencies
Straight Path Communications Inc. stockholders' equity:
Preferred stock, $0.01 par value; 3,000 shares authorized; no shares issued and outstanding
Additional paid-in capital	36,235	21,589
Accumulated deficit	(43,774)	(8,225)
Treasury stock, 40 shares at cost	(428)	(428)
Total Straight Path Communications Inc. stockholders' equity (deficiency)	(7,840)	13,058
Noncontrolling interests	(2,359)	(1,677)
Total equity (deficiency)	(10,199)	11,381
Total liabilities and equity (deficiency)	20,947	13,497
Class A Common Stock
Straight Path Communications Inc. stockholders' equity:
Common stock, value	8	8
Class B Common Stock
Straight Path Communications Inc. stockholders' equity:
Common stock, value	$ 119	$ 114

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Apr. 30, 2017	Jul. 31, 2016
Net of allowance for doubtful accounts	$ 7	$ 0
Loans payable, net of debt discount	$ 2,119	$ 0
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000	3,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Treasury stock, shares	40	40
Common Stock | Class A Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	2,000	2,000
Common stock, shares issued	787	787
Common stock, shares outstanding	787	787
Common Stock | Class B Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	40,000	40,000
Common stock, shares issued	11,949	11,431
Common stock, shares outstanding	11,909	11,391

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Statements of Operations [Abstract]
Revenues	$ 167	$ 219	$ 491	$ 2,034
Costs and expenses:
Direct cost of revenues	32	88	99	883
Research and development	144	505	433	879
Selling, general and administrative (related party of $2, $0, $207, and $0)	3,996	1,528	11,827	5,486
Total costs and expenses	4,172	2,121	12,359	7,248
Loss from operations before item listed below	(4,005)	(1,902)	(11,868)	(5,214)
Civil penalty - FCC consent decree			(15,000)
Stockholder settlement			(7,200)
Loss from operations	(4,005)	(1,902)	(34,068)	(5,214)
Other income (expense):
Interest expense, including amortization of debt discounts	(2,195)		(2,195)
Interest income	7	10	20	30
Other income		3	22	393
Total other income (expense)	(2,188)	13	(2,153)	423
Loss before income tax benefits (income taxes)	(6,193)	(1,889)	(36,221)	(4,791)
Provision for income tax benefits (income taxes)	(3)	25	(10)	19
Net loss	(6,196)	(1,864)	(36,231)	(4,772)
Net loss attributable to noncontrolling interests	203	19	682	269
Net loss attributable to Straight Path Communications Inc.	$ (5,993)	$ (1,845)	$ (35,549)	$ (4,503)
Loss per share attributable to Straight Path Communications Inc. stockholders:
Basic and diluted	$ (0.49)	$ (0.15)	$ (2.93)	$ (0.38)
Weighted-average number of shares used in calculation of loss per share:
Basic and diluted	12,186	11,905	12,117	11,856

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Statements of Operations [Abstract]
Selling, general and administrative related party	$ 2	$ 0	$ 207	$ 0

Consolidated Statement of Equit

Consolidated Statement of Equity (Deficiency) (Unaudited) - 9 months ended Apr. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-In Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interests
Balance at Jul. 31, 2016	$ 11,381	$ 8	$ 114	$ 21,589	$ (8,225)	$ (428)	$ (1,677)
Balance, shares at Jul. 31, 2016		787	11,431
Common stock issued for exercises of stock options	8			8
Common stock issued for exercises of stock options, shares			1
Issuance of warrants with loans payable	4,040			4,040
Issuance of warrants with loans payable, shares
Common stock issued for exercises of warrants	5,125		$ 1	5,124
Common stock issued for exercises of warrants, shares			148
Common stock issued for compensation	5,188		$ 4	5,184
Common stock issued for compensation, shares			369
Stock-based compensation	290			290
Net loss	(36,231)				(35,549)		(682)
Balance at Apr. 30, 2017	$ (10,199)	$ 8	$ 119	$ 36,235	$ (43,774)	$ (428)	$ (2,359)
Balance, shares at Apr. 30, 2017		787	11,949

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Operating activities:
Net loss	$ (36,231)	$ (4,772)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for compensation	5,188	2,191
Stock-based compensation	290
Amortization of debt discounts	2,001
Allowance for doubtful accounts	7
Depreciation		38
Changes in assets and liabilities:
Trade accounts receivable, net	(35)	43
Due from settlement		(65)
Inventory	(1,026)
Assets held for sale - Intellectual Property Business	(33)
Prepaid expenses - related to IP settlements and licensing		783
Prepaid expenses and other current assets	801	44
Prepaid expenses - development agreement		(300)
Other assets	(60)	9
Trade accounts payable	4,554	(68)
Accrued expenses	(126)	(392)
FCC consent decree payable	7,000
Liabilities held for sale - Intellectual Property Business	329
Deferred revenue	42	(1,577)
Income taxes payable	(225)
Settlement payable - stockholders	7,200
Net cash used in operating activities	(10,324)	(4,066)
Investing activities:
Prepaid expenses - related to sale of Spectrum business to Verizon	(2,856)
Prepaid expenses - related to sale of IP business to IDT	(1,054)
Purchases of property and equipment		(1,383)
Net cash used in investing activities	(3,910)	(1,383)
Financing activities:
Proceeds from loans payable	17,500
Costs related to loans payable	(80)
Common stock issued upon exercise of stock options	8	1
Net cash provided by financing activities	17,428	1
Net increase (decrease) in cash and cash equivalents	3,194	(5,448)
Cash and cash equivalents at beginning of period	11,361	18,620
Cash and cash equivalents at end of period	14,555	13,172
Supplemental schedule of noncash activities
Reclassification of prepaid marketing to inventory	643
Issuance of warrants with loans payable	4,040
Exercises of warrants reducing loans payable	5,125
Supplemental cash flow information
Cash paid during the period for interest	139
Cash paid during the period for income taxes	$ 10	$ 8

Basis of Presentation

Basis of Presentation	9 Months Ended
	Apr. 30, 2017
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 — Basis of Presentation The accompanying unaudited consolidated financial statements of Straight Path Communications Inc. (“Straight Path”) and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended April 30, 2017 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2017. The balance sheet at July 31, 2016 has been derived from Straight Path’s audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, please refer to the combined and consolidated financial statements and footnotes thereto included in Straight Path’s Annual Report on Form 10-K for the fiscal year ended July 31, 2016, as filed with the U.S. Securities and Exchange Commission (the “SEC”). Straight Path, a Delaware corporation, was incorporated in April 2013. Straight Path owns 100% of Straight Path Spectrum, Inc. (“Straight Path Spectrum”) and Straight Path Ventures, LLC (“Straight Path Ventures”), and 84.5% of Straight Path IP Group, Inc. (“Straight Path IP Group”). In these financial statements, the terms “the Company,” “Straight Path,” “we,” “us,” and “our” refer to Straight Path, Straight Path Spectrum, Straight Path Ventures, Straight Path IP Group, and their respective subsidiaries on a consolidated basis. All material intercompany balances and transactions have been eliminated in consolidation. Straight Path was formerly a subsidiary of IDT Corporation (“IDT”). On July 31, 2013, Straight Path was spun-off by IDT to its stockholders and became an independent public company (the “Spin-Off”). Straight Path authorized the issuance of two classes of its common stock, Class A (“Class A common stock”) and Class B (“Class B common stock”). On May 11, 2017, the Company entered into a merger agreement with Verizon Communications, Inc. (“Verizon”) and a Verizon subsidiary (see Note 2). On January 11, 2017, the Company entered into a consent decree with the Federal Communications Commission (the “FCC”) settling the FCC’s investigation regarding Straight Path Spectrum’s spectrum licenses (the “Consent Decree”). The Company agreed to pay an initial civil penalty of $15 million (the “Initial Civil Penalty”). For further discussion, see Note 14 – Regulatory Enforcement On March 7, 2017, the Company and lead plaintiff in Zacharia v. Straight Path Communications Inc. et al. Putative Class Action and Shareholder Derivative Action On April 9, 2017, the Company and IDT entered into a binding term sheet to settle potential claims related to certain claims under agreements related to the Spin-Off, and to sell the Company’s interest in Straight Path IP Group to IDT. See Note 3 – Settlement of Claims With IDT and Sale of Straight Path IP Group. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., Fiscal 2017 refers to the fiscal year ending July 31, 2017).

Verizon Merger Agreement

Verizon Merger Agreement	9 Months Ended
	Apr. 30, 2017
Verizon Merger Agreement [Abstract]
Verizon Merger Agreement	Note 2 — Verizon Merger Agreement On May 11, 2017, the Company entered into an Agreement and Plan of Merger (the “Verizon Merger Agreement”) with Verizon, a Delaware corporation, and Waves Merger Sub I, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Verizon (“Merger Sub”). Pursuant to the Verizon Merger Agreement, among other things, Merger Sub will be merged with and into the Company (the “Merger”) with the Company being the surviving corporation of the Merger. At the effective time of the Merger (the “Effective Time”), each share of Class A common stock, par value $0.01 per share, of the Company and each share of Class B common stock, par value $0.01 per share, of the Company (collectively, the “Shares”) issued and outstanding immediately prior to the Effective Time (other than Shares owned by Verizon, Merger Sub or any other direct or indirect subsidiary of Verizon, and Shares owned by the Company or any direct or indirect subsidiary of the Company, and in each case not held on behalf of third parties) will be converted into the right to receive a number of validly issued, fully paid in and nonassessable shares of common stock of Verizon (“Verizon Shares”) equal to the quotient determined by dividing $184.00 by the five (5)-day volume-weighted average per share price ending on the second full trading day prior to the Effective Time, rounded to two decimal points, of Verizon Shares on the New York Stock Exchange (the “Verizon Share Value”) and rounded to the nearest ten-thousandth of a share (collectively and in the aggregate, the “Merger Consideration”). It is the Company’s intention that (i) the Merger shall qualify as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended, and the Treasury regulations promulgated thereunder, and (ii) the Verizon Merger Agreement shall constitute a plan of reorganization within the meaning of Treasury Regulation Section 1.368-2(g), as noted in the Verizon Merger Agreement. The board of directors (the “Board”) of the Company has unanimously approved the Verizon Merger Agreement and determined that the Verizon Merger Agreement and the transactions contemplated thereby, including the Merger, are fair to, and in the best interests of, the Company and its stockholders, and has resolved to recommend that the Company’s stockholders adopt the Verizon Merger Agreement. The Company has agreed, subject to certain exceptions with respect to unsolicited proposals, not to directly or indirectly solicit competing acquisition proposals or to participate in any discussions concerning, or provide non-public information in connection with, any unsolicited acquisition proposals. However, the Board may, subject to certain conditions, change its recommendation in favor of approval of the Verizon Merger Agreement if, in connection with receipt of a superior proposal or an event occurring after the date of the Verizon Merger Agreement with respect to the Company, it determines in good faith, after consultation with its financial advisors and outside legal counsel, that the failure to take such action would be inconsistent with its fiduciary duties to the Company’s stockholders under applicable law. The completion of the Merger is subject to the satisfaction or waiver of customary closing conditions, including: (i) adoption of the Verizon Merger Agreement by the Company’s stockholders; (ii) receipt of regulatory approvals, including receipt of consent to the Merger from the FCC and the expiration or termination of any waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”); (iii) there being no law or injunction prohibiting consummation of the transactions contemplated under the Verizon Merger Agreement; (iv) the effectiveness of a registration statement on Form S-4 relating to the Merger; (v) subject to specified materiality standards, the continuing accuracy of certain representations and warranties of each party; (vi) continued compliance by each party in all material respects with its covenants; (vii) no event having occurred that has had, or would reasonably be likely to have, a Material Adverse Effect (as defined in the Verizon Merger Agreement) on the Company; (viii) receipt by the Company of an opinion from its tax counsel to the effect that the Merger will qualify as a “reorganization” for United States federal income tax purposes within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended; (ix) receipt of approval for listing the Verizon Shares on the New York Stock Exchange and the NASDAQ Global Select Market, subject to official notice of issuance; and (x) the FCC consent referred to in clause (ii) of this paragraph having become a Final Order (as defined in the Verizon Merger Agreement). The Company has made customary representations and warranties in the Verizon Merger Agreement. The Verizon Merger Agreement also contains customary covenants and agreements, including covenants and agreements relating to the conduct of the Company’s business between the date of the signing of the Verizon Merger Agreement and the closing of the transactions contemplated under the Verizon Merger Agreement. The representations and warranties made by the Company are qualified by disclosures made in its disclosure schedules and SEC filings. None of the representations and warranties in the Verizon Merger Agreement survive the closing of the transactions contemplated by the Verizon Merger Agreement. The Verizon Merger Agreement contains certain termination rights for both the Company and Verizon including upon (i) an uncured breach by the other party which results in the failure of a closing condition, (ii) the failure to receive the approval of the Verizon Merger Agreement by the Company’s stockholders, and (iii) the Company’s Board changing its recommendation in favor of the Verizon Merger Agreement. The Verizon Merger Agreement further provides that, upon termination of the Verizon Merger Agreement, under certain circumstances following a change in recommendation by the Company in connection with its receipt of a superior proposal or due to an Intervening Event (as defined in the Verizon Merger Agreement), the Company may be required to pay Verizon a termination fee equal to $38 million. Either the Company or Verizon may terminate the Verizon Merger Agreement if the completion of the Merger has not occurred on or before February 12, 2018 (as it may be extended as provided below, the “Termination Date”); provided, however, that if regulatory approvals have not been obtained and all other conditions to closing have been satisfied or waived, the Termination Date will automatically be extended for an additional one hundred and eighty days. In addition, Verizon is required to pay the Company an aggregate amount equal to $85 million (the “Parent Termination Fee”) in the event that the Merger has not closed by the extended Termination Date, and all conditions to closing other than receipt of FCC consent or HSR approval (or expiration of the waiting period under the HSR) have been satisfied or waived. In the event that the Verizon Merger Agreement is terminated other than as a result of Verizon’s breach or under circumstances in which Verizon is required to pay the Parent Termination Fee, the Company will be required to pay Verizon an amount equal to the AT&T Termination Fee (as defined in the Verizon Merger Agreement) paid by Verizon on the Company’s behalf. The Verizon Merger Agreement was attached as Exhibit 2.1 to the Form 8-K filed by the Company with the SEC on May 11, 2017 to provide investors and security holders with information regarding its terms. It is not intended to provide any other factual information about the Company, Verizon or Merger Sub, or to modify or supplement any factual disclosures about the Company or Verizon in their public reports filed with the SEC. The Verizon Merger Agreement includes representations, warranties and covenants of the Company, Verizon and Merger Sub made solely for purposes of the Verizon Merger Agreement and which may be subject to important qualifications and limitations agreed to by the Company, Verizon and Merger Sub in connection with the negotiated terms of the Verizon Merger Agreement. Moreover, some of those representations and warranties may not be accurate or complete as of any specified date, may be subject to a contractual standard of materiality different from those generally applicable to the Company’s or Verizon’s SEC filings or may have been used for purposes of allocating risk among the Company, Verizon and Merger Sub rather than establishing matters as facts. The foregoing summary of the Verizon Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Verizon Merger Agreement, which was attached as Exhibit 2.1 to the Form 8-K filed by the Company with the SEC on May 11, 2017. In addition, Howard Jonas, who has the right to vote a majority of the voting power of the Company’s common stock has entered into a voting agreement with Verizon concurrently with the entry into the Verizon Merger Agreement (the “Voting Agreement”). The Voting Agreement provides that Mr. Jonas (holding his Class A shares through a trust) will vote his Class A shares in the Company in favor of the Merger and the other transactions contemplated in the Verizon Merger Agreement, on the terms and subject to the conditions set forth in the Voting Agreement. The Voting Agreement will terminate automatically upon the earliest to occur of (i) the effective time of the Merger, (ii) the valid termination of the Verizon Merger Agreement pursuant to Article VII thereof, (iii) a change of recommendation by the Board in the event of a Superior Proposal or Intervening Event, (iv) any change being made to the terms of the Verizon Merger Agreement that would terminate the Trust’s or Mr. Jonas’s obligation to vote in favor of the Merger (on the terms and subject to the conditions in the Verizon Merger Agreement) or (v) February 12, 2018. The Company is not a party to the Voting Agreement. The foregoing summary of the Voting Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the form of Voting Agreement, which is attached as Exhibit A to the Verizon Merger Agreement, which was attached as Exhibit 2.1 to the Form 8-K filed by the Company with the SEC on May 11, 2017. On May 11, 2017, the Agreement and Plan of Merger, dated as of April 9, 2017, by and among the Company, AT&T Inc. and Switchback Merger Sub Inc. (the “AT&T Merger Agreement”) was terminated in its entirety by the Company pursuant to the terms and conditions of the AT&T Merger Agreement. Also on May 11, 2017, Verizon paid to AT&T, on behalf of the Company, the $38 million Company Termination Fee (as defined in the AT&T Merger Agreement) concurrently with the termination of the AT&T Merger Agreement pursuant to the terms and conditions thereof. The Company has incurred costs totaling approximately $2,856,000 related to the Verizon Merger Agreement. These costs will be included in the gain/loss recognized if the Merger is consummated. If the Merger is not consummated, the costs will be charged to operations in the period when such determination is made. If the Merger is consummated, the Company estimates that it will incur various fees and expenses, which will be paid by Verizon. These fees and expenses include but are not limited to the following: 1. Payment to the FCC of 20% of the Proceeds (as defined in the FCC Consent Decree) (see Note 14 – Regulatory Enforcement 2. Financial advisor and legal fees - $63.9 million 3. Balance owed to PTPMS Communications, LLC (“PTPMS”) (see Note 14 – Other Commitments and Contingencies 4. Balance owed to Former Chief Executive Officer of Straight Path Spectrum (the “Former SPSI CEO”) - $3.0 million (see Note 14 – Other Commitments and Contingencies 5. Severance and retention payments to certain members of management – see below In connection with its entry into the AT&T Merger Agreement and then the Verizon Merger Agreement, the Company approved severance arrangements for Davidi Jonas (“Jonas”), Jonathan Rand (“Rand”), Zhouyue Pi and David Breau (“Breau”) (each an “Executive”, and collectively, the “Executives”). The severance arrangements provide that if, within two years following the consummation of the Merger, the Company terminates an Executive’s employment without “Cause” or an Executive resigns for “Good Reason” (each such term to be defined in the severance agreements to be entered into prior to the consummation of the Merger), the Executive shall be entitled to receive a lump sum payment equal to one and one-half times (1.5x) (two and one-half times (2.5x) for Jonas) the sum of the Executive’s annual base salary and target bonus, subject to the execution of a release of claims. The Company also approved retention bonus payments for Jonas, Rand and Breau in the amounts of $1,800,000, $1,000,000 and $1,000,000, respectively. Subject to continued employment through the consummation of the Merger, such individuals shall be entitled to receive their retention bonus payment in a lump sum within thirty days following the consummation of the Merger.

Settlement of Claims with IDT a

Settlement of Claims with IDT and Sale of Straight Path IP Group	9 Months Ended
	Apr. 30, 2017
Settlement of Claims with IDT and Sale of Straight Path IP Group [Abstract]
Settlement of Claims with IDT and Sale of Straight Path IP Group	Note 3 — Settlement of Claims with IDT and Sale of Straight Path IP Group On April 9, 2017, the Company and IDT entered into a binding term sheet (the “Term Sheet”), providing for the settlement and mutual release of potential indemnification claims asserted by each of the Company and IDT in connection with liabilities that may exist or arise relating to the subject matter of the investigation by (including but not limited to fines, fees or penalties imposed by) the FCC (the “Mutual Release”). Pursuant to the Term Sheet, in exchange for the Mutual Release, IDT will pay the Company $16 million, the Company will transfer to IDT its ownership interest in Straight Path IP Group, and stockholders of the Company will receive 22 percent of the net proceeds, if any, received by Straight Path IP Group from any license, and certain transfers or assignments of any of the patent rights held, or any settlement, award or judgment involving any of the patent rights (including any net proceeds received after the closing of the merger of the Company with Verizon). As of the date of the filing of this report, the provisions under the Term Sheet have not been consummated. As such, the assets and liabilities of Straight Path IP Group have been classified as assets held for sale and liabilities held for sale on the consolidated balance sheet. The Company incurred costs totaling approximately $1,054,000 related to the negotiation and execution of the Term Sheet. These costs will be included in the gain/loss recognized if the transaction is consummated. If the transaction is not consummated, the costs will be charged to operations in the period when such determination is made. For a further discussion of the transaction, see the Form 8-K filed by the Company with the SEC on April 10, 2017.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recent Pronouncements	9 Months Ended
	Apr. 30, 2017
Summary of Significant Accounting Policies and Recent Pronouncements [Abstract]
Summary of Significant Accounting Policies and Recent Pronouncements	Note 4 — Summary of Significant Accounting Policies and Recent Pronouncements The Company’s significant accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended July 31, 2016. In May 2014, ASU No. 2014-09, “ Revenue from Contracts with Customers ASU 2014-09 was scheduled to be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. In August 2015, the FASB issued ASU 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date In June 2014, ASU 2014-15, “ Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern Effective August 1, 2016, the Company adopted ASU 2015-01, “ Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items Effective August 1, 2016, the Company adopted ASU 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis Effective August 1, 2016, the Company adopted ASU 2015-03, “ Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In January 2016, the FASB issued ASU 2016-01, “ Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, “ Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU 2016-10, “ Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers In May 2016, the FASB issued ASU 2016-12, “ Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, “ Statement of Cash Flows (Topic 230): Restricted Cash In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business” (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The guidance is effective for annual periods beginning after December 15, 2017 (quarter ended October 31, 2018 for the Company), including interim periods within those periods. The Company is currently evaluating the impact of adopting ASU 2017-01 on its consolidated financial statements but the adoption is not expected to have a significant impact as of the filing of this report. The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial statements.

Fair Value Measures

Fair Value Measures	9 Months Ended
	Apr. 30, 2017
Fair Value Measures [Abstract]
Fair Value Measures	Note 5 — Fair Value Measures At April 30, 2017 and July 31, 2016, the Company did not have any assets or liabilities measured at fair value on a recurring basis. At April 30, 2017 and July 31, 2016, the carrying amounts of the financial instruments included in cash and cash equivalents, trade accounts receivable, prepaid expenses and other current assets, trade accounts payable, and accrued expenses approximated fair value due to their short-term nature. The carrying value of the loans payable approximated its fair value as of April 30, 2017 as the interest rate approximated market.

Inventory

Inventory	9 Months Ended
	Apr. 30, 2017
Inventory [Abstract]
Inventory	Note 6 — Inventory Inventory, consisting solely of finished goods, is valued at the lower of cost or market.

Loan Payable

Loan Payable	9 Months Ended
	Apr. 30, 2017
Loan Payable [Abstract]
Loan Payable	Note 7 — Loan Payable On February 6, 2017, the Company entered into a Loan Agreement with a syndicate of investors (the “Lenders”) pursuant to which the Company borrowed $17.5 million (the “Loan Amount”). The loan matures on December 29, 2017. Interest accrues at a rate of 5% per annum until June 30, 2017 and then increases to a rate of 10% per annum. Other significant terms of the Loan Agreement include the following: 1. $15 million of the Loan Amount was used to pay the Initial Civil Penalty provided for in the Consent Decree in accordance with the payment requirements set forth in the Consent Decree. The remainder of the Loan Amount will be used for general corporate purposes and working capital needs. 2. The Lenders received warrants to purchase 252,161 shares of the Company’s Class B common stock with an aggregate exercise price equal to $7.5 million based on an exercise price of $34.70 per share. The exercise price was based on the weighted average trading price for the Class B common stock for the five trading days preceding the funding date. The warrants expire at the earlier of December 31, 2018 or a liquidation event (as defined). Warrants to purchase 147,682 shares of Class B common stock were exercised by the holders in the third quarter of Fiscal 2017 (see Note 8). 3. If any portion of the Loan Amount remains outstanding after June 30, 2017, the Lenders will receive additional warrants on a monthly basis with an aggregate exercise price equal to 10% (dropping to 7.5% in September 2017) of the then outstanding Loan Amount. The exercise price will be based on the weighted average trading price for the Class B common stock for the ten trading days preceding the warrant issue date. 4. To the extent the warrants are held by a Lender at the time of exercise, the exercise price will be paid by the reduction of the outstanding Loan Amount. As of April 30, 2017, the Loan Amount was reduced by $5,125,000 as the result of the exercise of 147,682 warrants referred to above (see Note 8). The fair value of the warrants at the date of grant totaled approximately $4,040,000. The Company estimated the fair value of the warrants using the Black-Scholes option pricing model with the following assumptions: Risk-free rate – 1.16%; dividend yield – 0%; Volatility – 96.68% and expected term – 1.92 years. Expected volatility is based on historical volatility of the Company’s common stock; the expected term until exercise represents the weighted-average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and the Company’s historical exercise patterns; and the risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company has not paid any dividends since its inception and does not anticipate paying any dividends for the foreseeable future, so the dividend yield is assumed to be zero. The Company also incurred $80,000 of costs in connection with the loan that were paid in cash. The fair value of the warrants and the cash loan costs are being amortized to interest expense over the term of the Loan Agreement. Amortization amounted to $2,001,000 for the three and nine months ended April 30, 2017. Interest expense incurred under the Loan Agreement totaled $194,000 for the three and nine months ended April 30, 2017. At April 30, 2017, loans payable were $10,256,000 which is net of unamortized debt discounts of $2,119,000.

Equity

Equity	9 Months Ended
	Apr. 30, 2017
Equity [Abstract]
Equity	Note 8 — Equity Issuances of Class B Common Stock: Class B common stock activity for the nine months ended April 30, 2017 was as follows: 1. The Company issued 180,000 restricted shares 2. The Company issued 108,000 restricted shares to other officers and 56,000 restricted shares to other employees as compensation 3. The Company issued 24,000 shares to directors as compensation. 4. The Company issued 1,250 restricted shares to a consultant as compensation. 5. The Company issued 1,440 shares upon the exercise of stock options and received proceeds of approximately $8,000. 6. The Company issued 147,682 shares to various Lenders upon the exercise of warrants and reduced the Loan Amount by $5,125,000. In the period from May 1, 2017 to the filing of this report, the Company issued 1,865 shares for the exercise of stock options and received proceeds of approximately $11,000 . See Note 9 - Stock-Based Compensation below for a further discussion. Issuances of Warrants: As discussed in Note 7, the Company issued warrants to purchase 252,161 shares of the Company’s Class B common stock as part of the Loan Agreement. The Company issued 147,682 shares to various Lenders for the exercise of certain of these warrants Treasury Stock for Payroll Tax Withholding: Treasury stock consists of shares of Class B common stock that were tendered by employees of ours to satisfy the employees’ tax withholding obligations in connection with the lapsing of restrictions on awards of restricted stock. The fair market value of the shares tendered was based on the trading day immediately prior to the vesting date and the proceeds utilized to pay the withholding taxes due upon such vesting event. At both April 30, 2017 and July 31, 2016, there were 39,693 shares of treasury stock totaling approximately $428,000.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Apr. 30, 2017
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 9 — Stock-Based Compensation Stock Options: Effective as of July 31, 2013, the Company adopted the 2013 Stock Option and Incentive Plan (as amended and restated to date, the “2013 Plan”). As of April 30, 2017, there are 1,503,532 shares of the Company’s Class B common stock reserved for the grant of awards under the 2013 Plan. No stock options were issued in the nine months ended April 30, 2017. Stock-based compensation is included in selling, general and administrative and, with respect to stock options granted, amounted to approximately $97,000 and $0 for the three months ended April 30, 2017 and 2016, respectively, and approximately $290,000 and $0 for the nine months ended April 30, 2017 and 2016, respectively. In October 2016, the Company granted officers and employees 164,000 restricted shares of Class B common stock. The shares will vest over a two-to-four-year period. The aggregate fair value of the grant was approximately $4,392,000 which is being charged to expense on a straight-line basis over the vesting periods In addition, in October 2016, the Company issued 120,000 restricted shares of Class B common stock 1. 60,000 shares which vested immediately. The aggregate fair value of the grant was $1,866,000 which was charged to expense in the period issued. 2. 60,000 shares which will vest over a three-year period. The aggregate fair value of the grant was $1,866,000 which is being charged to expense on a straight-line basis over the vesting period. On September 9, 2016, the Company issued 1,250 restricted shares of Class B common stock The aggregate fair value of the grant is being charged to expense on a straight-line basis over the vesting period. On January 5, 2017, the Company granted three of its directors an aggregate of 24,000 restricted shares of Class B common stock. These grants are the annual grants to non-employee directors provided for in the Plan. The shares vested immediately. The aggregate fair value of the grant was approximately $886,000. On April 10, 2017, the Company granted Jonas 60,000 restricted shares of Class B common stock. The shares will vest over a three-year period. The aggregate fair value of the grant was approximately $2,144,000 which is being charged to expense on a straight-line basis over the vesting periods Stock-based compensation is included in selling, general and administrative expense and, with respect to restricted stock granted, amounted to approximately $901,000 and $605,000 for the three months ended April 30, 2017 and 2016, respectively, and approximately $5,188,000 and $2,191,000 for the nine months ended April 30, 2017 and 2016, respectively. As of April 30, 2017, there was approximately $8,357,000 of total unrecognized compensation cost related to non-vested restricted shares. The Company expects to recognize the unrecognized compensation cost as follows: Fiscal 2017 - $973,000, Fiscal 2018 - $3,496,000, Fiscal 2019 - $2,704,000, Fiscal 2020 - $1,121,000 and Fiscal 2021 - $63,000.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Apr. 30, 2017
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	Note 10 — Earnings (Loss) Per Share Basic (loss) earnings per share is computed by dividing net (loss) income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. The following table sets forth the number of Class B shares of common stock issuable upon the exercise of stock options which were excluded from the diluted (loss) earnings per share calculation even though the exercise price was less than the average market price of the Class B common shares and non-vested restricted Class B common stock because the effect of including these potential shares was anti-dilutive due to the net loss incurred during that period: Three Months Ended Nine Months Ended 2017 2016 2017 2016 (in thousands) Stock options 45 3 22 4 Warrants 61 - 43 - Non-vested restricted Class B common stock 265 179 225 175 Shares excluded from the calculation of diluted (loss) earnings per share 371 182 290 179 There were no stock options or warrants to purchase Class B common stock which were excluded from the diluted per share calculation because the exercise price was greater than the average market price of the Class B common shares.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Apr. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 — Related Party Transactions Legal Fees The Company retained the services of a law firm to perform legal services. One of the partners of the firm is a non-employee director of the Company. Legal fees incurred amounted to approximately $2,000 and $207,000 for the three and nine months ended April 30, 2017, respectively. There were no fees incurred in fiscal year 2016. At both April 30, 2017 and July 31, 2016, the Company owed the law firm $0. IDT In connection with the Spin-Off, the Company and IDT entered into a Separation and Distribution Agreement and a Tax Separation Agreement to complete the separation of the Company’s businesses from IDT, to distribute the Company’s common stock to IDT’s stockholders and set forth certain understandings related to the Spin-Off. These agreements govern the relationship between the Company and IDT after the distribution and also provide for the allocation of employee benefits, taxes and other liabilities and obligations attributable to periods prior to the distribution. These agreements reflect terms between affiliated parties established without arms-length negotiation. The Company believes that the terms of these agreements equitably reflect the benefits and costs of the Company’s ongoing relationships with IDT. Pursuant to the Separation and Distribution Agreement, the Company has agreed to indemnify IDT and IDT has agreed to indemnify the Company for losses related to the failure of the other to pay, perform or otherwise discharge, any of the liabilities and obligations set forth in the agreement. The Separation and Distribution Agreement includes, among other things, that IDT is obligated to reimburse the Company for the payment of any liabilities of the Company arising or related to the period prior to the Spin-Off. No payments were received in Fiscal 2016 or through January 31, 2017. Certain potential indemnification obligations will be released in exchange for the payments provided for in, and other provisions of, the Term Sheet, as described in Note 3 above. At the Spin-Off, the Company entered into a Transition Services Agreement (“TSA”) with IDT, pursuant to which IDT has provided certain services, including, but not limited to information and technology, human resources, payroll, tax, accounts payable, purchasing, treasury, financial systems, investor relations, legal, corporate accounting, internal audit, and facilities for an agreed period following the Spin-Off. As of January 1, 2015, all of these services are provided by other vendors. The Company and IDT extended the TSA enabling the Company to seek input from IDT on an ad hoc basis if the Company deemed it necessary. No services were provided under the TSA in the three and nine months ended April 30, 2017 and 2016.

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2017
Income Taxes [Abstract]
Income Taxes	Note 12 — Income Taxes The Company recorded no federal income tax expense for Fiscal 2017 and Fiscal 2016 because the estimated annual effective tax rate was zero. As of April 30, 2017, the Company continues to provide a valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be fully realized. The provision for both the three and nine months ended April 30, 2017 and 2016 represents state income taxes. The federal return of Straight Path for the year ended July 31, 2015 is currently under audit by the Internal Revenue Service (“IRS”). No significant issues have been raised but as the audit has not been completed, the Company cannot determine if the IRS will assess additional tax, interest, and penalties.

Business Segment Information

Business Segment Information	9 Months Ended
	Apr. 30, 2017
Business Segment Information [Abstract]
Business Segment Information	Note 13 — Business Segment Information Prior to November 1, 2015, the Company had two reportable business segments, Straight Path Spectrum, which holds fixed and mobile wireless spectrum, and Straight Path IP Group, which holds intellectual property primarily related to communications over computer networks, and the licensing and other businesses related to this intellectual property. Effective November 1, 2015, a third segment, referred to as Straight Path Ventures was designated. Straight Path Ventures, whose results were previously included in our Straight Path Spectrum segment, focuses on developing next generation wireless technology for 39 GHz at the Company’s Gigabit Mobility Lab in Plano, Texas. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations. There are no significant asymmetrical allocations to segments. The Company allocates all of the corporate general and administrative expenses of Straight Path to Straight Path IP Group, Straight Path Spectrum, and Straight Path Ventures based upon the relative time of management and other corporate resources expended relative to each business as well as the revenues earned by each division. For all periods through January 31, 2016, these were allocated 80% to Straight Path IP Group and 20% to Straight Path Spectrum. No expenses were allocated to Straight Path Ventures because the amount of management’s time and other resources dedicated to Straight Path Ventures were deemed to be immaterial. Commencing on February 1, 2016, these expenses are being allocated 20% to Straight Path IP Group and 80% to Straight Path Spectrum, except for the following: 1. Expenses related to the Gigabit Mobility Lab are being allocated 100% to Straight Path Ventures; 2. Employment expenses of our Chief Technology Officer are being allocated 20% to Straight Path IP Group, 20% to Straight Path Spectrum, and 60% to Straight Path Ventures; 3. Employment expenses related to one employee are being allocated 20% to Straight Path Spectrum and 80% to Straight Path Ventures; 4. Employment expenses related to several other employees are being allocated 100% to Straight Path Spectrum. The changes in allocations were brought about by the expiration of the licensed patents held by Straight Path IP Group and the increase in activities of Straight Path Ventures. Straight Path IP Group recognized revenues over the terms of the settlements and license agreements related to such patents entered into in prior periods. With the expiration of the key patents and the increase in activities of Straight Path Ventures, the Company determined to modify the allocation, and in light of the anticipated level of activity in Straight Path IP Group’s enforcement activities and Straight Path Ventures’ development activities, the Company determined that a general 20% allocation to Straight Path IP Group, subject to the specific allocations listed above, represented the appropriate split in light of all factors. Operating results for the business segments of the Company were as follows: Straight Path Spectrum Straight Path IP Straight Path Ventures Total (in thousands) Three Months Ended April 30, 2017 Revenues $ 167 $ - $ - $ 167 Loss from operations before FCC Consent Decree and stockholder settlement (2,683 ) (881 ) (441 ) (4,005 ) Three Months Ended April 30, 2016 Revenues $ 122 $ 97 $ - $ 219 Loss from operations before FCC Consent Decree and stockholder settlement (1,308 ) (160 ) (434 ) (1,902 ) Nine Months Ended April 30, 2017 Revenues $ 491 $ - $ - $ 491 Loss from operations before FCC Consent Decree and stockholder settlement (7,973 ) (2,612 ) (1,283 ) (11,868 ) Nine Months Ended April 30, 2016 Revenues $ 339 $ 1,695 $ - $ 2,034 Loss from operations before FCC Consent Decree and stockholder settlement (2,484 ) (2,173 ) (557 ) (5,214 ) Total assets for the business segments of the Company were as follows: Straight Path Straight Path Straight Path Spectrum IP Group Ventures Total (in thousands) Total assets April 30, 2017 $ 4,048 $ 15,799 $ 1,100 $ 20,947 July 31, 2016 10,174 2,223 1,100 13,497 None of the Company’s revenues were generated outside of the United States for either Fiscal 2017 or Fiscal 2016. The Company did not have any assets outside the United States at April 30, 2017 or July 31, 2016.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Apr. 30, 2017
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 14 — Commitments and Contingencies Legal Proceedings Regulatory Enforcement Allegations were made in an anonymous report released in November 2015 regarding the circumstances under which certain of our spectrum licenses were renewed by the FCC in 2011 and 2012. The Company conducted an independent investigation into these allegations. We met with the FCC and shared the Company’s conclusions, and the Company subsequently provided certain additional information requested by the FCC. On January 11, 2017, the Company entered into the Consent Decree with the FCC settling the FCC’s investigation regarding Straight Path Spectrum’s spectrum licenses on the terms specified therein. Material terms of the Consent Decree include the following: 1. The FCC agreed to terminate its investigation. 2. Straight Path Spectrum agreed to surrender 93 of its 828 39 GHz economic area spectrum licenses to the FCC, as well as 103 rectangular service area licenses that the Company does not believe were material assets of the Company. 3. Straight Path Spectrum keeps all of its 28 GHz spectrum licenses. 4. The Company agreed to pay the Initial Civil Penalty of $15 million in four installments as follows - $4 million on or before February 11, 2017; $4 million on or before April 11, 2017; $3.5 million on or before July 11, 2017; and $3.5 million on or before October 11, 2017. If the Company sells its remaining spectrum licenses (see below) prior to the due date of any installation payment, any remaining installation payments will become due on the date of such closing. 5. The Company agreed to submit to the FCC an application for approval of a sale of its remaining 39 GHz and 28 GHz spectrum licenses on or before January 11, 2018 and pay the FCC 20% of the proceeds from such the sale(s). 6. If the Company does not submit to the FCC an application for approval of a sale of its remaining spectrum licenses on or before January 11, 2018, the Company will pay an additional penalty of $85 million or surrender its remaining spectrum licenses. The Company recorded the Initial Civil Penalty of $15 million. The liability is classified as “FCC consent decree payable” on the consolidated balance sheet and the associated expense is classified as “civil penalty – FCC consent decree” on the consolidated statement of operations. The first two installments of the Initial Civil Penalty totaling $8 million have been paid. As of April 30, 2017, FCC consent decree payable was $7 million. As discussed in Note 2, the Company entered into the Verizon Merger Agreement. The fee owed per Item 5 above will be paid by Verizon as part of the Merger. If the Merger is consummated, the Company believes that the Merger would satisfy the requirement under the Consent Decree as described in Item 5 above. However, if the Merger is not completed for any reason, including as a result of the Company’s stockholders failing to adopt the Verizon Merger Agreement, there is no guarantee that the Company will be able to otherwise sell its remaining spectrum licenses. If the Merger is not completed for any reason and the Company does not submit applications to the FCC seeking consent to the sale of its remaining spectrum licenses to an alternative acquirer by January 12, 2018, there is no guarantee that the FCC would not seek to require the Company to pay the $85 million penalty or seek the forfeiture of the Company’s remaining spectrum licenses. If the penalty is imposed by the FCC, there is no guarantee that the Company will be able to obtain sufficient financing to pay the additional $85 million or repay the remaining amount due of the $17.5 million loan from the Lenders. A failure by the Company to comply with these requirements could lead to a default by the Company under the Consent Decree, loss of the Company’s remaining spectrum licenses, either of which will have a material adverse effect on the Company’s financial condition and results of operations. Putative Class Action and Shareholder Derivative Action On November 13, 2015, a putative shareholder class action was filed in the federal district court for the District of New Jersey against Straight Path Communications Inc., and Jonas and Rand (the “individual defendants”). The case is captioned Zacharia v. Straight Path Communications, Inc. et al. On March 7, 2017, the Company and lead plaintiff in Zacharia v. Straight Path Communications Inc. et al. On January 29, 2016, a shareholder derivative action captioned Hofer v. Jonas et al. Zacharia Sipnet Appeal and Related IPRs On April 11, 2013, Sipnet EU S.R.O. (“Sipnet”), a Czech company, filed a petition for an inter partes As discussed in more detail below, following the CAFC’s decision in Sipnet, the PTAB denied found that the petitioners were unable to show the unpatentability of the vast majority of the challenged claims. The petitioners have appealed the PTAB’s decisions to the CAFC. On June 5, 2017, the CAFC heard oral argument in the appeal, and a decision is pending. On August 22, 2014, Samsung Electronics Co., Ltd. (“Samsung”) filed three petitions with the PTAB for IPR of certain claims of the ‘704 Patent and U.S. Patent Nos. 6,009,469 (the “‘469 Patent”) and 6,131,121 (the “‘121 Patent”). On March 6, 2015, the PTAB instituted the requested IPR. On June 15, 2015, Cisco Systems, Inc. (“Cisco”) and Avaya, Inc. (“Avaya”) joined this instituted IPR. On March 4, 2016, the PTAB issued a final written decision holding that Samsung failed to show that any claims of the ‘704 and ‘121 Patents were unpatentable. The PTAB also held that Samsung failed to show that the majority of the claims of the ‘469 Patent were unpatentable. On May 5, 2016, Samsung filed a notice of appeal to the CAFC. On May 6, 2016, Cisco and Avaya also filed notices of appeal. On October 31, 2014, LG Electronics Inc. et al. (“LG”), Toshiba Corporation et al. (“Toshiba”), Vizio, Inc. (“Vizio”), and Hulu LLC (“Hulu”) filed three petitions with the PTAB for IPR of certain claims of the ‘704, ‘469, and ‘121 Patents. On May 15, 2015, the PTAB instituted the requested IPRs. On November 10, 2015, the PTAB granted petitions filed by Cisco and Avaya to join these IPRs. On November 24, 2015, the PTAB granted related petitions filed by Verizon Services Corp. and Verizon Business Network Services Inc. (the “Verizon affiliates”) to join for the ‘704 and ‘469 Patents. On May 9, 2016, the PTAB issued a final written decision holding that the petitioners failed to show that any claims of the ‘704 Patent were unpatentable. The PTAB also held that the petitioners failed to show that the majority of the claims of the ‘469 and ‘121 Patents were unpatentable. On May 20, 2016, the petitioners filed a notice of appeal to the CAFC, and this appeal was consolidated with the appeal of the Samsung IPR discussed above. On October 14, 2016, the appellants filed their opening brief. The respondents filed their opposition brief on December 7, 2016, and the appellants filed their reply brief on January 4, 2017. On June 5, 2017, the CAFC heard oral argument in the appeal, and a decision is pending. On September 28, 2015, Cisco, Avaya, and the Verizon affiliates filed a petition for an IPR with the PTAB for all claims of U.S. Patent No. 6,701,365 (the “‘365 Patent”). On April 6, 2016, the PTAB denied the petition, finding that the petitioners had not demonstrated a reasonable likelihood that any challenged claim was unpatentable. This decision was not appealed to the CAFC. Patent Enforcement Following the CAFC’s decision in Sipnet and the PTAB’s decisions in the related IPRs, Straight Path IP Group has taken steps to re-commence its patent enforcement actions in federal district court that had been stayed or dismissed without prejudice during the pendency of the Sipnet Appeal and related IPRs. On August 1, 2013, Straight Path IP Group filed complaints in the United States District Court for the Eastern District of Virginia against LG, Toshiba, and Vizio alleging infringement of the ‘704, ‘469, and ‘121 Patents and seeking damages related to such infringement. The actions were consolidated (the “consolidated action”) and assigned to Judge Anthony J. Trenga. In October 2014, Hulu intervened in the consolidated action as to Hulu’s streaming functionality in the accused products. In that same month, Amazon.com, Inc. (“Amazon”) moved to intervene, sever, and stay claims related to Amazon’s streaming functionality in the accused products. On October 13, 2014, Amazon filed an action in the United States District Court for the Northern District of California seeking declaratory relief of non-infringement of the ‘704, ‘469, and ‘121 Patents based in part on the allegations related to the consolidated action in Virginia (the “Amazon action”). On December 5, 2014, Straight Path IP Group filed a motion to dismiss Amazon’s complaint, or in the alternative, to transfer venue to the Eastern District of Virginia. On May 28, 2015, the California court transferred the Amazon action to Virginia, and the Virginia court later formally severed the Amazon action from the consolidated action. In November 2014, the parties jointly moved to stay the consolidated action and the Amazon action pending the completion of the Sipnet Appeal and related IPRs. On November 4, 2014, the court granted the stay. On May 23, 2016, Straight Path IP Group filed status reports with the court in both the consolidated action and the Amazon action requesting that the stay be lifted, and the defendants filed a statement and request for leave to file a motion to continue the stay. The court held oral argument, and on August 8, 2016, the court continued the stay pending the outcome of the defendants’ appeals of the PTAB’s denial of their IPRs. On August 23, 2013, Straight Path IP Group filed a complaint in the United States District Court for the Eastern District of Texas against Samsung alleging infringement of the ‘704, ‘469, and ‘121 Patents and seeking damages related to such infringement. In September 2014, Straight Path IP Group and Samsung jointly filed a motion to stay the action. On October 29, 2014, the court granted the motion and stayed the action pending the outcome of the Sipnet Appeal and the Samsung IPR petitions. On May 31, 2016, Straight Path IP Group filed a notice informing the court of the results of the Samsung IPR and the Sipnet Appeal and requesting that the stay be lifted. On June 2, 2016, the defendants filed a notice asserting that the stay should remain pending their appeal of the PTAB’s decision in the Samsung IPR. The court has not ruled on Straight Path IP Group’s request. On September 24, 2014, Straight Path IP Group filed complaints against each of Apple, Inc. (“Apple”), Avaya, and Cisco in the United States District Court for the Northern District of California. Straight Path IP Group claims that (a) Apple’s telecommunications products, including FaceTime software, infringe four of Straight Path IP Group’s patents (the ‘704, ‘469, and ’121 Patents and U.S. Patent No. 7,149,208); (b) Avaya’s IP telephony, video conference, and telepresence products such as its Aura Platform infringe four of the Straight Path IP Group’s patents (the ‘704, ‘469, ‘121, and ‘365 Patents); and (c) Cisco’s IP telephony, video conference, and telepresence products such as the Unified Communications Solutions infringe four of Straight Path IP Group’s patents (the ‘704, ‘469, ‘121, and ‘365 Patents). On December 24, 2014, Straight Path IP Group dismissed the complaints against Avaya and Cisco without prejudice. On January 5, 2015, Straight Path IP Group dismissed the complaint against Apple without prejudice. On June 21, 2016, Straight Path IP Group filed new complaints against Avaya and Cisco alleging that certain of their products infringe four of Straight Path IP Group’s patents. On August 5, 2016, Avaya filed its answer, affirmative defenses, and counterclaims for declaratory judgments of noninfringement and invalidity of Straight Path IP Group’s patents, and the parties have commenced discovery. Also on August 5, 2016, Cisco filed its answer and affirmative defenses, and the parties have commenced discovery. On June 24, 2016, Straight Path IP Group filed a new complaint against Apple alleging that its FaceTime product infringes five of Straight Path IP Group’s patents. On August 5, 2016, Apple filed a partial motion to dismiss as well as its answer, affirmative defenses, and counterclaims for declaratory judgments of noninfringement and invalidity of Straight Path IP Group’s patents. Following oral argument, on October 21, 2016, the court granted in part and denied in part Apple’s motion. The court dismissed one claim as to the ‘469 Patent but denied Apple’s motion with respect to the other four patents at issue in the litigation. Discovery is underway in the Apple and Cisco actions. On January 19, 2017, Avaya filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. On May 2, 2017, Straight Path IP Group filed a proof of claim in the Avaya bankruptcy proceeding. On September 26, 2014, Straight Path IP Group filed a complaint against the Verizon affiliates and Verizon Communications in the United States District Court for the Southern District of New York. Straight Path IP Group claims the defendants’ telephony products such as its Advanced Communications Products, including Unified Communications and Collaboration and VOIP infringe on the ‘704, ‘469, and ‘365 Patents. On November 24, 2014, Straight Path IP Group dismissed the complaint without prejudice subject to a confidential standstill agreement with the defendants. On June 7, 2016, Straight Path IP Group filed a new complaint in the United States District Court for the Southern District of New York against the original Verizon parties as well as Verizon affiliate Cellco Partnership d/b/a Verizon Wireless, alleging that defendants’ IP telephony products such as FIOS Digital Voice, Unified Communications and Collaboration, Verizon Enterprise Solutions VoIP, Virtual Communications Express, Voice over LTE, and related hardware and software infringe the ‘704, ‘469 and ‘365 Patents. On August 5, 2016, Verizon filed its answer and affirmative defenses, and the parties commenced discovery. On September 13, 2016, Verizon filed a motion to stay the litigation pending a decision from the CAFC in the appeal of the Samsung IPR. On October 18, 2016, the court granted Verizon’s motion and stayed the litigation. Straight Path IP Group generally pays law firms that represent it in litigation against alleged infringers of its intellectual property rights a percentage of the amounts recovered ranging from 0% to 40% depending on several factors. FCC License Renewal Our spectrum licenses in the local multipoint distribution service (“LMDS”) and 39 GHz bands have historically been granted for ten-year terms. On April 20, 2016, and based on our submission of a renewal application and substantial service demonstration, the FCC granted our application to renew our LMDS BTA license for the LMDS A1 band (27.5 – 28.35 GHz) that covers parts of the New York City BTA for a ten-year period, until February 1, 2026. We have 15 other LMDS A1 licenses; nine of these licenses currently have a renewal date of August 10, 2018, and six of these licenses have a renewal date of September 21, 2018. However, following the adoption of the Upper Microwave Flexible Use (“UMFU”) Report and Order, we are only required to submit an application for renewal at those deadlines; we are not required to submit a substantial service demonstration for these licenses until the next build-out date specified in the UFMU Report and Order, which is June 1, 2024. It is likely that the FCC will separate the renewal and substantial service deadlines for licenses that contain both A1 spectrum (for which mobile capabilities were adopted in the UMFU Report and Order) and A2 and A3 spectrum (for which mobile capabilities were not added). Of the 15 BTAs in which we hold LMDS A2 band (29.1 – 29.25 GHz) and A3 band (31.075 – 31.225 GHz) spectrum, nine licenses currently have a renewal and possible substantial service deadline of August 10, 2018 and six of these licenses currently have a renewal and possible substantial service deadline of September 21, 2018. The UMFU Report and Order does not affect the LMDS B band spectrum – the substantial service deadlines remain the same as the renewal deadlines. Of our 117 LMDS B band (31.0 – 31.075 GHz and 31.225 – 31.300 GHz) spectrum, five licenses currently have a renewal and substantial service deadline of August 10, 2018 and 112 licenses currently have a renewal and substantial service deadline of September 21, 2018. The UMFU Report and Order substantial service deadline of June 1, 2024 also applies to our 735 39 GHz licenses, which currently have a renewal deadline of October 18, 2020. For further discussion, please see “ Regulatory Enforcement Other Commitments and Contingencies Former SPSI CEO The Former SPSI CEO is entitled to receive payments from future revenues generated from the leasing, licensing or sale of rights in certain of Straight Path Spectrum’s wireless spectrum licenses. Those payments are to be made out of 50% of the covered revenue and are in a maximum aggregate amount of $3.25 million. The payments arise under the June 2013 settlement of certain claims and disputes with the Former SPSI CEO and parties related to the Former SPSI CEO. Approximately $19,000 and $6,000 was incurred to the Former SPSI CEO for this obligation for the three months ended April 30, 2017 and 2016, respectively, and approximately $58,000 and $36,000 for the nine months ended April 30, 2017 and 2016, respectively. For further discussion, see Note 2 above. PTPMS On May 29, 2012, the Company acquired certain licenses from PTPMS under an asset purchase agreement. Under the terms of the agreement, PTPMS is entitled to a “profit share” of 20% of the net proceeds from any partition, sale, assignment, etc., of any or all of the licenses acquired. For further discussion, see Note 2 above.

Summary of Significant Accoun22

Summary of Significant Accounting Policies and Recent Pronouncements (Policies)	9 Months Ended
	Apr. 30, 2017
Summary of Significant Accounting Policies and Recent Pronouncements [Abstract]
Summary of Significant Accounting Policies and Recent Pronouncements	Note 4 — Summary of Significant Accounting Policies and Recent Pronouncements The Company’s significant accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended July 31, 2016. In May 2014, ASU No. 2014-09, “ Revenue from Contracts with Customers ASU 2014-09 was scheduled to be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. In August 2015, the FASB issued ASU 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date In June 2014, ASU 2014-15, “ Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern Effective August 1, 2016, the Company adopted ASU 2015-01, “ Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items Effective August 1, 2016, the Company adopted ASU 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis Effective August 1, 2016, the Company adopted ASU 2015-03, “ Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In January 2016, the FASB issued ASU 2016-01, “ Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, “ Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU 2016-10, “ Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers In May 2016, the FASB issued ASU 2016-12, “ Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, “ Statement of Cash Flows (Topic 230): Restricted Cash In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business” (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The guidance is effective for annual periods beginning after December 15, 2017 (quarter ended October 31, 2018 for the Company), including interim periods within those periods. The Company is currently evaluating the impact of adopting ASU 2017-01 on its consolidated financial statements but the adoption is not expected to have a significant impact as of the filing of this report. The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial statements.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Apr. 30, 2017
Earnings (Loss) Per Share [Abstract]
Summary of shares excluded from diluted earnings per share computations	Three Months Ended Nine Months Ended 2017 2016 2017 2016 (in thousands) Stock options 45 3 22 4 Warrants 61 - 43 - Non-vested restricted Class B common stock 265 179 225 175 Shares excluded from the calculation of diluted (loss) earnings per share 371 182 290 179

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Apr. 30, 2017
Business Segment Information [Abstract]
Summary of operating results for the business segments	Straight Path Spectrum Straight Path IP Straight Path Ventures Total (in thousands) Three Months Ended April 30, 2017 Revenues $ 167 $ - $ - $ 167 Loss from operations before FCC Consent Decree and stockholder settlement (2,683 ) (881 ) (441 ) (4,005 ) Three Months Ended April 30, 2016 Revenues $ 122 $ 97 $ - $ 219 Loss from operations before FCC Consent Decree and stockholder settlement (1,308 ) (160 ) (434 ) (1,902 ) Nine Months Ended April 30, 2017 Revenues $ 491 $ - $ - $ 491 Loss from operations before FCC Consent Decree and stockholder settlement (7,973 ) (2,612 ) (1,283 ) (11,868 ) Nine Months Ended April 30, 2016 Revenues $ 339 $ 1,695 $ - $ 2,034 Loss from operations before FCC Consent Decree and stockholder settlement (2,484 ) (2,173 ) (557 ) (5,214 )
Summary of total assets for the business segments	Straight Path Straight Path Straight Path Spectrum IP Group Ventures Total (in thousands) Total assets April 30, 2017 $ 4,048 $ 15,799 $ 1,100 $ 20,947 July 31, 2016 10,174 2,223 1,100 13,497

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Mar. 07, 2017	Jan. 11, 2017	Apr. 30, 2017
Basis of Presentation (Textual)
Initial penalty payment		$ 15,000
Settlement of initial payment	$ 2,250
Additional settlement payment	$ 7,200
Straight Path [Member]
Basis of Presentation (Textual)
Ownership in straight path spectrum			100.00%
Straight Path IP Group [Member]
Basis of Presentation (Textual)
Ownership in straight path spectrum			84.50%

Verizon Merger Agreement (Detai

Verizon Merger Agreement (Details) - Subsequent Event [Member]	May 11, 2017USD ($)$ / shares
Verizon Merger Agreement (Textual)
Nonassessable shares of common stock, value	$ 184
Termination fee	38,000,000
Parent termination fee	85,000,000
Incurred costs in merger agreement	$ 2,856,000
Merger consideration, description	Five (5)-day volume-weighted average per share price ending on the second full trading day prior to the Effective Time, rounded to two decimal points, of Verizon Shares on the New York Stock Exchange (the “Verizon Share Value”) and rounded to the nearest ten-thousandth of a share (collectively and in the aggregate, the “Merger Consideration”).
Payment to consent decree, percentage	20.00%
Financial advisor and legal fees	$ 63,900,000
Rand [Member]
Verizon Merger Agreement (Textual)
Retention bonus payment	1,000,000
Breau [Member]
Verizon Merger Agreement (Textual)
Retention bonus payment	1,000,000
Jonas [Member]
Verizon Merger Agreement (Textual)
Retention bonus payment	1,800,000
Former SPSI CEO [Member]
Verizon Merger Agreement (Textual)
Balance owed of straight path spectrum	$ 3,000,000
Common Class A [Member]
Verizon Merger Agreement (Textual)
Common stock, par value | $ / shares	$ 0.01
Common Class B [Member]
Verizon Merger Agreement (Textual)
Common stock, par value | $ / shares	$ 0.01

Settlement of Claims with IDT27

Settlement of Claims with IDT and Sale of Straight Path IP Group (Details)	Apr. 09, 2017USD ($)
Settlement of Claims with IDT and Sale of Straight Path IP Group [Abstract]
Payment of IDT	$ 16,000,000
Percentage of net proceeds received by shareholders	22.00%
Total incurred cost of negotiation and execution of term sheet	$ 1,054,000

Loan Payable (Details)

Loan Payable (Details) - USD ($)	Feb. 06, 2017	Apr. 30, 2017	Apr. 30, 2017	Jul. 31, 2016
Debt Instrument [Line Items]
Borrowed from investors		$ 10,256,000	$ 10,256,000
Class B common stock [Member]
Debt Instrument [Line Items]
Warrant issued to purchase common stock	252,161		147,682
Warrants exercise price	$ 34.70
Warrants expire date	Dec. 31, 2018
Proceeds from aggregate warrants	$ 7,500,000
Loan Agreement [Member]
Debt Instrument [Line Items]
Borrowed from investors	$ 17,500,000
Interest rate	5.00%
Interest rate, Increase (Decrease)	10.00%
Loan maturity date	Dec. 29, 2017
Payments of initial civil penalty	$ 15,000,000
Payments of first installment			$ 5,125,000
Warrant issued to purchase common stock			147,682
Percentage of warrant description	The Lenders will receive additional warrants on a monthly basis with an aggregate exercise price equal to 10% (dropping to 7.5% in September 2017) of the then outstanding Loan Amount.
Fair value of warrants			$ 4,040,000
Risk-free rate			1.16%
Dividend yield			0.00%
Volatility			96.68%
Expected term			1 year 11 months 1 day
Paid in cash for loan			$ 80,000
Amortization amount		2,001,000	2,001,000
Interest expense, debt		194,000	194,000
Loans payable		10,256,000	10,256,000
Unamortized debt discounts		$ 2,119,000	$ 2,119,000

Equity (Details)

Equity (Details) - USD ($)	May 01, 2017	Apr. 30, 2017	Jul. 31, 2016
Equity (Textual)
Treasury stock, shares		40,000	40,000
Treasury stock, value		$ 428,000	$ 428,000
Common stock issued for exercises of stock options		$ 8,000
Warrants outstanding		104,479
Warrants [Member]
Equity (Textual)
Common stock issued for exercises of warrants, shares		147,682
Class B Common Stock [Member]
Equity (Textual)
Issuances of warrants to purchase		252,161
Class B Common Stock [Member] | Stock options [Member]
Equity (Textual)
Common stock issued for exercises of stock options, Shares		1,440
Common stock issued for exercises of stock options		$ 8,000
Class B Common Stock [Member] | Warrants [Member]
Equity (Textual)
Common stock issued for exercises of warrants, shares		147,682
Common stock issued for exercises of stock options, value		$ 5,125,000
Class B Common Stock [Member] | Warrants [Member] | Subsequent Event [Member]
Equity (Textual)
Common stock issued for exercises of stock options, Shares	1,865
Common stock issued for exercises of stock options	$ 11,000
Class B Common Stock [Member] | Other officers [Member]
Equity (Textual)
Stock issued during period as compensation		108,000
Class B Common Stock [Member] | Other employees [Member]
Equity (Textual)
Stock issued during period as compensation		56,000
Class B Common Stock [Member] | Jonas [Member]
Equity (Textual)
Stock issued during period as compensation		180,000
Class B Common Stock [Member] | Consultant [Member]
Equity (Textual)
Stock issued during period as compensation		1,250
Class B Common Stock [Member] | Director [Member]
Equity (Textual)
Stock issued during period as compensation		24,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	Apr. 10, 2017USD ($)shares	Jan. 05, 2017USD ($)Directorsshares	Sep. 09, 2016shares	Oct. 31, 2016USD ($)shares	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2017USD ($)shares	Apr. 30, 2016USD ($)
Stock-Based Compensation (Textual)
Class B common stock reserved for grant of awards under 2013 Plan | shares							1,503,532
Stock-based compensation is included in selling, general and administrative					$ 97,000		$ 290,000
Officers and Employees [Member]
Stock-Based Compensation (Textual)
Granted restricted shares of Class B common stock | shares				164,000
Fair value of granted restricted shares of Class B common stock				$ 4,392,000
Officers and Employees [Member] | Minimum [Member]
Stock-Based Compensation (Textual)
Vesting period				2 years
Officers and Employees [Member] | Maximum [Member]
Stock-Based Compensation (Textual)
Vesting period				4 years
Jonas [Member]
Stock-Based Compensation (Textual)
Granted restricted shares of Class B common stock | shares	60,000			120,000
Fair value of granted restricted shares of Class B common stock	$ 2,144,000
Vesting period	3 years
Jonas [Member] | Vested one [Member]
Stock-Based Compensation (Textual)
Granted restricted shares of Class B common stock | shares				60,000
Fair value of granted restricted shares of Class B common stock				$ 1,866,000
Jonas [Member] | Vested two [Member]
Stock-Based Compensation (Textual)
Granted restricted shares of Class B common stock | shares				60,000
Fair value of granted restricted shares of Class B common stock				$ 1,866,000
Vesting period				3 years
Consultant [Member]
Stock-Based Compensation (Textual)
Granted restricted shares of Class B common stock | shares			1,250
Vesting period			13 months
Directors [Member]
Stock-Based Compensation (Textual)
Granted restricted shares of Class B common stock | shares		24,000
Fair value of granted restricted shares of Class B common stock		$ 886,000
Number of directors | Directors		3
Stock options [Member]
Stock-Based Compensation (Textual)
Stock-based compensation is included in selling, general and administrative					901,000	$ 605,000	5,188,000	$ 2,191,000
Unrecognized compensation cost related to non-vested restricted shares					$ 8,357,000		8,357,000
Unrecognized compensation cost 2017							973,000
Unrecognized compensation cost 2018							3,496,000
Unrecognized compensation cost 2019							2,704,000
Unrecognized compensation cost 2020							1,121,000
Unrecognized compensation cost 2021							$ 63,000

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Earnings Per Share, Diluted, Other Disclosures [Abstract]
Shares excluded from the calculation of diluted (loss) earnings per share	371	182	290	179
Non-vested restricted Class B common stock [Member]
Earnings Per Share, Diluted, Other Disclosures [Abstract]
Shares excluded from the calculation of diluted (loss) earnings per share	265	179	225	175
Warrant [Member]
Earnings Per Share, Diluted, Other Disclosures [Abstract]
Shares excluded from the calculation of diluted (loss) earnings per share	61		43
Stock options [Member]
Earnings Per Share, Diluted, Other Disclosures [Abstract]
Shares excluded from the calculation of diluted (loss) earnings per share	45	3	22	4

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2017	Apr. 30, 2017	Jul. 31, 2016
Related party transactions (Textual)
Legal fees	$ 2,000	$ 207,000
Law firm owned		$ 0	$ 0

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Summary of operating results for the business segments
Revenues	$ 167	$ 219	$ 491	$ 2,034
Loss from operations before FCC Consent Decree and stockholder settlement	(4,005)	(1,902)	(34,068)	(5,214)
Straight Path Spectrum [Member]
Summary of operating results for the business segments
Revenues	167	122	491	339
Loss from operations before FCC Consent Decree and stockholder settlement	(2,683)	(1,308)	(7,973)	(2,484)
Straight Path IP Group [Member]
Summary of operating results for the business segments
Revenues		97		1,695
Loss from operations before FCC Consent Decree and stockholder settlement	(881)	(160)	(2,612)	(2,173)
Straight Path Ventures [Member]
Summary of operating results for the business segments
Revenues
Loss from operations before FCC Consent Decree and stockholder settlement	$ (441)	$ (434)	$ (1,283)	$ (557)

Business Segment Information 34

Business Segment Information (Details 1) - USD ($) $ in Thousands	Apr. 30, 2017	Jul. 31, 2016
Summary of total assets for the business segments
Total assets:	$ 20,947	$ 13,497
Straight Path Spectrum [Member]
Summary of total assets for the business segments
Total assets:	4,048	10,174
Straight Path IP Group [Member]
Summary of total assets for the business segments
Total assets:	15,799	2,223
Straight Path Ventures [Member]
Summary of total assets for the business segments
Total assets:	$ 1,100	$ 1,100

Business Segment Information 35

Business Segment Information (Details Textual) - Segment	Feb. 01, 2016	Jan. 31, 2016	Apr. 30, 2017
Business Segment Information (Textual)
Reportable Segments			2
Straight Path IP Group [Member]
Business Segment Information (Textual)
Percentage of general and administrative expenses	20.00%	80.00%	20.00%
Employment expenses of Chief Technology Officer	20.00%
Straight Path Spectrum [Member]
Business Segment Information (Textual)
Percentage of general and administrative expenses	80.00%	20.00%
Employment expenses of Chief Technology Officer	20.00%
Employment expenses related to one employee	20.00%
Employee expenses related to several other employees	100.00%
Straight Path Ventures [Member]
Business Segment Information (Textual)
Percentage of general and administrative expenses	100.00%
Employment expenses of Chief Technology Officer	60.00%
Employment expenses related to one employee	80.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) $ in Thousands

Oct. 11, 2017USD ($)

Jul. 11, 2017USD ($)

May 11, 2017

Apr. 11, 2017USD ($)

Mar. 07, 2017USD ($)

Feb. 11, 2017USD ($)

Jan. 11, 2017USD ($)Installments

Jun. 30, 2013USD ($)

May 29, 2012

Apr. 30, 2017USD ($)

Apr. 30, 2016USD ($)

Apr. 30, 2017USD ($)

Apr. 30, 2016USD ($)

Commitments and Contingencies (Textual)

FCC Consent decree payable

$ 7,000

Payment of penalty

85,000

Additional payment

$ 85,000

85,000

Loan from lenders

$ 17,500

Description of legal settlement agreement

The Company will provide for a $2.25 million initial payment (the "Initial Payment") and a $7.2 million additional payment (the "Additional Payment"). The Initial Payment will be paid into an escrow account within 15 days following preliminary court approval of the settlement, and will be fully covered by insurance policies maintained by the Company. The Additional Payment of $7.2 million will be paid within 60 days after the closing of a transaction to sell the Company's spectrum licenses as specified in the Consent Decree with the Federal Communications Commission dated January 11, 2017 (the "Consent Decree"), or, in the event that the Company pays the non-transfer penalty specified in the Consent Decree, within 60 days after that payment is paid.

Settlement of initial payment

$ 2,250

Additional settlement payment

$ 7,200

Percentage of profit share

20.00%

Subsequent Event [Member]

Commitments and Contingencies (Textual)

Payment to consent decree, percentage

20.00%

Minimum [Member]

Commitments and Contingencies (Textual)

Recoverable contingency patents allegedly infringed, percentage

0.00%

Maximum [Member]

Commitments and Contingencies (Textual)

Recoverable contingency patents allegedly infringed, percentage

40.00%

Subsidiaries [Member] | Former Chief Executive Officer [Member]

Commitments and Contingencies (Textual)

Amount of maximum future payment for wireless spectrum licenses

$ 3,250

Amount incurred for obligation

$ 19,000

$ 6,000

$ 58,000

$ 36,000

Payments to be made from revenue, percentage

50.00%

Straight Path IP Group [Member]

Commitments and Contingencies (Textual)

Settlement of litigation, description

Straight Path IP Group generally pays law firms that represent it in litigation against alleged infringers of its intellectual property rights a percentage of the amounts recovered ranging from 0% to 40% depending on several factors.

Straight Path Spectrum'S Spectrum Licenses [Member]

Commitments and Contingencies (Textual)

Payments of initial civil penalty

$ 15,000

Installment value

$ 4,000

$ 4,000

Number of installments | Installments

4

Initial civil penalty

$ 15,000

Payments of additional penalty

85,000

Payment of two installments of initial civil penalty

$ 8,000

Straight Path Spectrum'S Spectrum Licenses [Member] | Subsequent Event [Member]

Commitments and Contingencies (Textual)

Installment value

$ 3,500

$ 3,500