Straight Path Communications 10-Q 11 Dec 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Oct. 31, 2017	Dec. 11, 2017
Entity Registrant Name	Straight Path Communications Inc.
Entity Central Index Key	1,574,460
Trading Symbol	STRP
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Document Type	10-Q
Document Period End Date	Oct. 31, 2017
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018
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		11,980,664

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2017	Jul. 31, 2017
Current assets:
Cash and cash equivalents	$ 7,559	$ 8,535
Trade accounts receivable, net of allowance for doubtful accounts of $19 and $19, respectively	25	51
Inventory	1,588	1,588
Assets held for sale - Straight Path IP Group		3
Prepaid expenses and other current assets	402	118
Total current assets	9,574	10,295
Prepaid expenses - related to the sale of Straight Path IP Group		1,029
Intangible assets	365	365
Other assets	158	161
Total assets	10,097	11,850
Current liabilities:
Trade accounts payable (related party of $57 and $29, respectively)	3,495	3,210
Accrued expenses (related party of $0 and $900, respectively)	12,360	3,502
Dividend payable	3,750
Liabilities held for sale - Straight Path IP Group		357
FCC consent decree payable		3,500
Loans payable, net of debt discount of $541 and $1,101	3,334	11,274
Deferred revenue	174	217
Total current liabilities	23,113	22,060
Settlement of litigation	7,200	7,200
Deferred revenue - long-term portion	64	75
Total liabilities	30,377	29,335
Commitments and contingencies
Straight Path Communications Inc. stockholders' deficiency:
Preferred stock, $0.01 par value; 3,000 shares authorized; no shares issued and outstanding
Additional paid-in capital	52,719	38,377
Accumulated deficit	(72,699)	(52,872)
Treasury stock, 40 shares at cost at October 31, 2017 and July 31, 2017	(428)	(428)
Total Straight Path Communications Inc. stockholders' deficiency	(20,280)	(14,795)
Noncontrolling interests		(2,690)
Total deficiency	(20,280)	(17,485)
Total liabilities and deficiency	10,097	11,850
Class A Common Stock
Straight Path Communications Inc. stockholders' deficiency:
Common stock value	8	8
Class B Common Stock
Straight Path Communications Inc. stockholders' deficiency:
Common stock value	$ 120	$ 120

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Oct. 31, 2017	Jul. 31, 2017
Net of allowance for doubtful accounts	$ 19	$ 19
Trade accounts payable related party	57	29
Accrued expenses related party	0	900
Loans payable, net of debt discount	$ 541	$ 1,101
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	12,020	11,989
Common stock, shares outstanding	11,980	11,949

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Statements of Operations [Abstract]
Revenues	$ 165	$ 159
Costs and expenses:
Direct cost of revenues	17	41
Research and development	137	160
Selling, general and administrative (related party of $21 and $128, respectively)	3,241	3,361
Total costs and expenses	3,395	3,562
Loss from operations before profit sharing settlement	(3,230)	(3,403)
Profit sharing settlement	10,000
Loss from operations	(13,230)	(3,403)
Other income (expense):
Interest expense including amortization of debt discounts	(836)
Interest income	6	7
Other income		22
Total other income (expense)	(830)	29
Loss from continuing operations before provision for income taxes	(14,060)	(3,374)
Provision for income taxes	(7)	(7)
Loss from continuing operations	(14,067)	(3,381)
Loss from discontinued operations:
Loss from discontinued operations	(1,489)	(874)
Loss attributable to noncontrolling interests	229	124
Loss from discontinued operations attributable to Straight Path Communications Inc.	(1,260)	(750)
Net loss attributable to Straight Path Communications Inc.	$ (15,327)	$ (4,131)
Loss per share attributable to Straight Path Communications Inc. stockholders:
Basic and diluted - continuing operations	$ (1.13)	$ (0.28)
Basic and diluted - discontinued operations	(0.10)	(0.06)
Basic and diluted - total	$ (1.23)	$ (0.34)
Weighted-average number of shares used in calculation of loss per share:
Basic and diluted	12,403	12,018

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Statements of Operations [Abstract]
Selling, general and administrative related party	$ 21	$ 128

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 3 months ended Oct. 31, 2017 - USD ($) $ in Thousands	Total	Additional Paid-In Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interests	Common StockClass A Common Stock	Common StockClass B Common Stock
Balance at Jul. 31, 2017	$ (17,485)	$ 38,377	$ (52,872)	$ (428)	$ (2,690)	$ 8	$ 120
Balance, shares at Jul. 31, 2017						787	11,989
Capital contribution related to IDT settlement agreement and release	10,000	10,000
Gain on sale of Straight Path IP Group	5,195	5,195
Removal of noncontrolling interests due to sale of Straight Path IP Group		(2,919)			2,919
Stock-based compensation - restricted common stock	951	951
Common stock issued for exercises of stock options	8	8
Common stock issued for exercises of stock options, shares							1
Common stock issued for exercises of warrants	1,057	1,057
Common stock issued for exercises of warrants, shares							30
Issuance of warrants with loans payable	50	50
Dividends	(4,500)		(4,500)
Net loss	(15,556)		(15,327)		(229)
Balance at Oct. 31, 2017	$ (20,280)	$ 52,719	$ (72,699)	$ (428)		$ 8	$ 120
Balance, shares at Oct. 31, 2017						787	12,020

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Operating activities:
Net loss	$ (15,556)	$ (4,255)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation - restricted common stock	951	2,417
Stock-based compensation - stock options		97
Amortization of debt discounts	649
Changes in assets and liabilities:
Trade accounts receivable, net	26	(7)
Inventory
Assets held for sale - Straight Path IP Group	3
Prepaid expenses and other current assets	(1,308)	(7)
Prepaid expenses - related to sale of Straight Path IP Group	1,029
Other assets	3	(1)
Trade accounts payable	285	383
Accrued expenses	9,077	(520)
Liabilities held for sale - Straight Path IP Group	(357)
FCC consent decree payable	(3,500)
Deferred revenue	(54)	95
Income taxes payable		(2)
Net cash used in operating activities	(8,752)	(1,800)
Investing activities:
Proceeds from sale of Straight Path IP Group	6,000
Net cash provided by investing activities	6,000
Financing activities:
Capital contribution related to IDT settlement agreement and release	10,000
Dividend related to IDT settlement agreement and release	(750)
Payments of loans payable	(8,500)
Costs related to loans payable	(39)
Common stock issued upon exercise of warrants	1,057
Common stock issued upon exercise of stock options	8
Net cash provided by financing activities	1,776
Net decrease in cash and cash equivalents	(976)	(1,800)
Cash and cash equivalents at beginning of period	8,535	11,361
Cash and cash equivalents at end of period	7,559	9,561
Supplemental schedule of noncash activities
Gain on sale of Straight Path IP Group classified as additional paid-in capital	5,195
Elimination of noncontrolling interests due to sale of Straight Path IP Group	2,919
Issuance of warrants with loans payable	50
Dvidend payable	3,750
Supplemental cash flow information
Cash paid during the period for interest	383
Cash paid during the period for income taxes	$ 7	$ 7

Basis of Presentation

Basis of Presentation	3 Months Ended
	Oct. 31, 2017
Basis of Presentation [Abstract]
Basis of Presentation	Note 1—Basis of Presentation The accompanying unaudited Consolidated Financial Statements of Straight Path Communications Inc. and its subsidiaries (“Straight Path”) 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 months ended October 31, 2017 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2018. The balance sheet at July 31, 2017 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 consolidated financial statements and footnotes thereto included in Straight Path’s Annual Report on Form 10-K for the fiscal year ended July 31, 2017, as filed with the U.S. Securities and Exchange Commission (the “SEC”). Straight Path Communications Inc., 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 until October 24, 2017, we owned 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. The Company was formerly a subsidiary of IDT Corporation (“IDT”). On July 31, 2013, the Company was spun-off by IDT to its stockholders and became an independent public company (the “Spin-Off”). The Company 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. For a further discussion, see Note 2 – Verizon Merger Agreement 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 – Commitments and Contingencies Regulatory Enforcement On March 7, 2017, the Company and lead plaintiff in Zacharia v. Straight Path Communications Inc. et al Commitments and Contingencies Shareholder Litigation On April 9, 2017, the Company and IDT entered into a binding term sheet (the “IDT 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. On October 24, 2017, the Company, IDT and other parties entered into a Settlement Agreement and Release (the “IDT Settlement Agreement”) and related agreements and consummated the settlement. For further discussion, 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 2018 refers to the fiscal year ending July 31, 2018).

Verizon Merger Agreement

Verizon Merger Agreement	3 Months Ended
	Oct. 31, 2017
Verizon Merger Agreement [Abstract]
Verizon Merger Agreement	Note 2—Verizon Merger Agreement On April 9, 2017, we signed the Agreement and Plan of Merger with AT&T Inc. and Switchback Merger Sub Inc. (the “AT&T Merger Agreement”). Among the terms, the AT&T Merger Agreement allowed us to terminate the AT&T Merger Agreement if we received a better offer (as defined). If such an offer was accepted, we would be required to pay AT&T a termination fee of $38 million. We did receive better offers from Verizon. On May 11, 2017, we 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”). The Verizon Merger Agreement called for Verizon to pay the $38 million to AT&T on our behalf. Such payment was made by Verizon on May 11, 2017. Per Section 7.3(b) of the Verizon Merger Agreement, “Termination by the Company,” if we terminated the Verizon agreement as a result of receiving a Superior Proposal (as defined), before the Requisite Company Vote (as defined) being obtained, then we would repay Verizon the $38 million paid to AT&T. This contingency would create a liability to us only if we accepted a Superior Proposal. As of July 31, 2017, we did not receive and did not enter into an agreement for a Superior Proposal. The Requisite Company Vote occurred on August 2, 2017, as further noted below. As a result, we never owed the termination fee to Verizon. 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 our 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. Our board of directors (the “Board”) 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 our stockholders adopt the Verizon Merger Agreement. We 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. On August 2, 2017, we held a special meeting of our stockholders to vote on a proposal to adopt the Verizon Merger Agreement. At such meeting, the proposal to adopt the Verizon Merger Agreement was approved with 89% of the votes entitled to be cast at the special meeting voting; and of the votes cast, approximately 99% of the votes cast in favor of the proposal to adopt the Verizon Merger Agreement. That approval terminated the Board’s ability to consider unsolicited acquisition proposals, change its recommendation of the Merger and terminate the Verizon Merger Agreement in connection therewith. The completion of the Merger is subject to the satisfaction or waiver of customary closing conditions, including: (i) 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”); (ii) there being no law or injunction prohibiting consummation of the transactions contemplated under the Verizon Merger Agreement; (iii) the effectiveness of a registration statement on Form S-4 relating to the Merger; (iv) subject to specified materiality standards, the continuing accuracy of certain representations and warranties of each party; (v) continued compliance by each party in all material respects with its covenants; (vi) 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; (vii) 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; (viii) 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 (ix) the FCC consent referred to in clause (i) of this paragraph having become a Final Order (as defined in the Verizon Merger Agreement). We and Verizon filed notification and report forms under the HSR Act with the Federal Trade Commission and the Antitrust Division of the Department of Justice on May 19, 2017. The HSR Act waiting period expired on June 19, 2017, and the condition for HSR Act clearance was satisfied. On June 1, 2017, we and Verizon submitted applications to the FCC seeking consent to transfer control of the Company’s spectrum licenses to Verizon. For further discussion, see Note 14 – Commitments and Contingencies Regulatory Enforcement We have 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 our 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 us 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. As a result of the adoption of the Verizon Merger Agreement at the special meeting of our stockholders on August 2, 2017, we never owed the termination fee to Verizon. 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 us 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, we 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 our 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, entered into a voting agreement with Verizon concurrently with the entry into the Verizon Merger Agreement (the “Voting Agreement”). The Voting Agreement provided that Mr. Jonas (holding his Class A shares through a trust) would 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 would 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. We are not a party to the Voting Agreement. At the special meeting of our stockholders on August 2, 2017, Mr. Jonas voted his shares in the Company in favor of the Merger. 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 us with the SEC on May 11, 2017 and is incorporated herein by reference. The Company has incurred costs totaling approximately $60,000 related to the Verizon Merger Agreement in Fiscal 2018. These costs were included in selling, general and administrative expenses. 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 – Commitments and Contingencies Regulatory Enforcement 2. Financial advisor and legal fees - $63.9 million 3. Balance owed to PTPMS Communications, LLC (“PTPMS”) (see Note 14 – Commitments and Contingencies PTPMS 4. Balance owed to Former Chief Executive Officer of Straight Path Spectrum (the “Former SPSI CEO”) - $3.0 million (see Note 14 – Commitments and Contingencies Other Commitments and Contingencies 5. The following severance and retention payments to certain members of management: 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”), the Company’s Chief Executive Officer and President, Jonathan Rand (“Rand”), the Company’s Chief Financial Officer and treasurer, Zhouyue (Jerry) Pi (“Pi”), the Company’s Chief Technology Officer, and David Breau (“Breau”), the Company’s General Counsel (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	3 Months Ended
	Oct. 31, 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 the IDT 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”). On October 24, 2017, the Company, IDT and other parties entered into a Settlement Agreement and Release (the “IDT Settlement Agreement”) and related agreements, and consummated the settlement. Pursuant to the IDT Settlement Agreement, in exchange for the Mutual Release, the parties effected the following actions: 1. IDT paid the Company $10 million and the right to receive 22% of the net proceeds of the Straight Path IP Group patent portfolio (as described in more detail below) in settlement of various claims. Such payment was deemed to be a tax-free contribution to capital by IDT effective prior to the Spinoff; 2. IDT paid the Company $6 million for the Company’s ownership interest in Straight Path IP Group; and 3. The Company created a trust (the beneficial interests in which will be owned by Class B common stockholders of the Company) that will be entitled to 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). The Company agreed to contribute $4,500,000 to the trust. Such contribution has been classified as a dividend. As of October 31, 2017 and to the date of the filing of this report, the Company contributed $750,000. The trust agreement provides that the Company will pay the remaining $3.75 million at the earlier of (i) the closing date under the Verizon Merger Agreement or (ii) August 11, 2018. As discussed above, we sold our interest in Straight Path IP Group and the Company recognized a gain of $2,276,000 net of noncontrolling interests. Such gain was classified as an increase to additional paid-in capital due to the voting interests Howard Jonas has in each entity. The Company incurred costs totaling approximately $1,029,000 related to the negotiation and execution of the IDT Settlement Agreement. These costs were included in calculating the gain recognized by the Company. As a result of the sale, the operations of Straight Path IP Group are classified as discontinued operations in the consolidated statements of operations. The statement of operations for Fiscal 2017 have been restated to conform to the current presentation. The discontinued operations of Straight Path IP Group for Fiscal 2018 and Fiscal 2017 are summarized below: Three Months Ended October 31, 2017 2016 (in thousands) Revenues $ - $ - Costs and expenses: Selling, general and administrative 1,294 875 Total costs and expenses 1,294 875 Loss from operations (1,294 ) (875 ) Other income (expense): Interest expense including amortization of debt discounts (195 ) - Interest income - 2 Total other income (expense) (195 ) 2 Loss provision for income taxes (1,489 ) (873 ) Provision for income taxes - (1 ) Net loss (1,489 ) (874 ) Loss attributable to noncontrolling interests 229 124 Net loss from discontinued operations attributable to Straight Path Communications Inc. $ (1,260 ) $ (750 )

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recent Pronouncements	3 Months Ended
	Oct. 31, 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 to Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended July 31, 2017. 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, “R evenue from Contracts with Customers (Topic 606): Deferral of Effective Date Effective February 1, 2017, 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) Effective August 1, 2017, the Company adopted 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 May 2017, the FASB issued ASU 2017-09, “ Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting ” 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	3 Months Ended
	Oct. 31, 2017
Fair Value Measures [Abstract]
Fair Value Measures	Note 5—Fair Value Measures At October 31, 2017 and July 31, 2017, the Company did not have any assets or liabilities measured at fair value on a recurring basis. At October 31, 2017 and July 31, 2017, 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 October 31, 2017 and July 31, 2017 as the interest rate approximated market.

Inventory

Inventory	3 Months Ended
	Oct. 31, 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	3 Months Ended
	Oct. 31, 2017
Loan Payable [Abstract]
Loan Payable	Note 7—Loan Payable On February 6, 2017, the Company entered into a loan agreement (“Original Loan Agreement”) with a syndicate of investors (the “Lenders”) pursuant to which the Company borrowed $17.5 million (the “Loan Amount”). The loan was scheduled to mature on December 29, 2017. Interest accrued at a rate of 5% per annum until June 30, 2017 and then increased to a rate of 10% per annum. Other significant terms of the Original Loan Agreement include the following: 1. $15 million of the Loan Amount was required to be 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 is being used for general corporate purposes and working capital needs. 2. Upon funding the Loan Amount, 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 – Equity 3. From and after June 30, 2017, the Lenders were entitled to receive additional warrants on a monthly basis with an aggregate value equal to 10% of the then outstanding Loan Amount for the months of July 2017 and August 2017 and then 7.5% of the then outstanding Loan Amount for the months of August 2017 through December 2017. The exercise price for such warrants was based on the weighted average trading price for the Class B common stock for the ten trading days preceding the warrant issue date. Under this provision, the Lenders received the following warrants: a. On July 3, 2017, the Lenders received warrants to purchase 6,899 shares of the Company’s Class B common stock with an exercise price of $179.62 per share. b. On August 1, 2017, the Lenders received warrants to purchase 6,911 shares of the Company’s Class B common stock with an exercise price of $179.26 per share. c. On September 1, 2017, the Lenders received warrants to purchase 5,188 shares of the Company’s Class B common stock with an exercise price of $179.18 per share. d. On October 2, 2017, the Lenders received warrants to purchase 5,152 shares of the Company’s Class B common stock with an exercise price of $180.48 per share. e. On November 1, 2017, the Lenders received warrants to purchase 1,610 shares of the Company’s Class B common stock with an exercise price of $181.29 per share. f. On December 1, 2017, the Lenders received warrants to purchase 1,605 shares of the Company’s Class B common stock with an exercise price of $182.02 per share. 4. If 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 to the extent of such outstanding amounts. As of October 31, 2017, the Loan Amount was reduced by $5,125,000 as the result of the exercise of 147,682 warrants received by the Lenders upon making the loan (see Note 8 – Equity 5. The Original Loan Agreement is secured by a first priority security interest in primarily all of the assets of the Company. On October 22, 2017, the Company entered into an omnibus amendment and waiver agreement (“Amended Loan Agreement”) with the Lenders. Significant terms of the Amended Loan Agreement include the following: 1. The maturity date of the loan was changed to the earlier of (i) March 31, 2018 or (ii) the consummation of the Merger. 2. The Company paid the Lenders $8.5 million of the outstanding Loan Amount and a 1% prepayment premium of $85,000. 3. Each warrantholder is entitled to elect, solely at the discretion of the warrantholder, to exercise any warrants held by such warrantholder (i) by cashless exercise in accordance with their terms or (ii) by paying the applicable warrant price per share (in which case such exercise will not result in any corresponding reduction of the Loan Amount and interest outstanding). 4. The Company paid the Lenders an amendment fee of $38,754. 5. The Lenders consented to the sale of Straight Path IP Group by the Company and the release of the security interest related to Straight Path IP Group. 6. No additional warrants shall be issued after December 1, 2017. The fair value of the warrants at the date of grants in Fiscal 2018 was estimated using the Black-Scholes option pricing model with the following assumptions: Risk-free interest rate 1.01% - 1.15 % Dividend yield 0 % Volatility 5 % Expected term (in years) 1.25 - 1.42 Volatility is based on the estimated future volatility of the Company’s common stock over the terms of the warrants since the Company entered into the Verizon Merger Agreement; 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. In addition, in Fiscal 2017, the Company also incurred cash costs of $80,000 in connection with the loan. The fair value of the warrants, the cash loan costs and the amendment fee paid are amortized to interest expense over the terms of the Loan Agreements. Amortization amounted to $530,000 and $0 for Fiscal 2018 and Fiscal 2017, respectively. Amortization included in discontinued operations amounted to $119,000 and $0 for Fiscal 2018 and Fiscal 2017, respectively. Interest expense incurred under the Loan Agreement totaled $306,000 and $0 for Fiscal 2018 and Fiscal 2017, respectively. Interest expense included in discontinued operations amounted to $76,000 and $0 for Fiscal 2018 and Fiscal 2017, respectively. At October 31, 2017, loans payable were $3,334,000, which is net of unamortized debt discounts of $541,000. At July 31, 2017, loans payable were $11,274,000, which is net of unamortized debt discounts of $1,101,000.

Equity

Equity	3 Months Ended
	Oct. 31, 2017
Equity [Abstract]
Equity	Note 8—Equity Issuances of Class B Common Stock: Class B common stock activity for Fiscal 2018 was as follows: 1. The Company issued 1,434 shares upon the exercise of stock options and received proceeds of $8,100. 2. The Company issued 30,475 shares to various Lenders upon the exercise of warrants and received proceeds of $1,057,000 (see Note 7 – Loan Payable Class B common stock activity from November 1, 2017 to the date of the filing of this report was as follows: 1. The Company issued 50 shares upon the exercise of stock options and received proceeds of $283. See Note 9 – Stock-Based Compensation Issuances of Warrants: As discussed in Note 7 – Loan Payable Warrants Weighted- Weighted- Aggregate Outstanding as of August 1, 2017 111,378 $ 43.68 1.4 $ 15,118 Granted 17,251 179.60 Exercised (30,475 ) 34.70 Cancelled/Forfeited — — Outstanding and exercisable as of October 31, 2017 98,154 $ 70.35 1.1 $ 10,911 The following table summarizes information about warrants outstanding and exercisable at October 31, 2017: Warrants Outstanding and Exercisable Number Weighted- Weighted- Number Exercise prices: $34.70 74,004 1.1 $ 34.70 74,004 $ 179.18 - $180.48 24,150 1.1 179.61 24,150 98,154 1.1 $ 70.35 98,154 The total intrinsic value of warrants exercised during Fiscal 2018 was $4,467,330. The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $181.51 as of October 31, 2017, which would have been received by the warrant holders had all warrant holders exercised their warrants as of that date. For the period from November 1, 2017 to the date of the filing of this report, the Company issued warrants to purchase 3,215 shares of the Company’s Class B Common Stock (see Note 7 – Loan Payable Treasury Stock: Treasury stock consists of shares of Class B common stock that were tendered by our employees to satisfy their tax withholding obligations in connection with the lapsing of restrictions on awards of restricted stock. The cost 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 October 31, 2017 and July 31, 2017, there were 39,693 shares of treasury stock at a value of $427,916.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Oct. 31, 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 October 31, 2017, there are 64,033 shares of the Company’s Class B common stock available for the grant of awards under the 2013 Plan. No stock options were issued in Fiscal 2018. Stock-based compensation is included in selling, general and administrative and, with respect to stock options granted, amounted to approximately $0 and $78,000 for Fiscal 2018 and Fiscal 2017, respectively. Stock-based compensation with respect to stock options included in discontinued operations amounted to $0 and $19,000 for Fiscal 2018 and Fiscal 2017, respectively. Common Stock: From time to time, the Company issues Class B common stock (and options to purchase Class B common stock) to non-employee directors, officers, other employees, and other service providers. There were no issuances of Class B common stock in Fiscal 2018. Stock-based compensation is included in selling, general and administrative expense and, with respect to common stock, amounted to approximately $819,000 and $1,966,000 for Fiscal 2018 and Fiscal 2017, respectively. Stock-based compensation with respect to common stock included in discontinued operations amounted to $132,000 and $451,000 for Fiscal 2018 and Fiscal 2017, respectively. As of October 31, 2017, there were 244,000 restricted shares of Class B common stock that had not vested. As of October 31, 2017, there was approximately $6,433,000 of total unrecognized compensation cost related to issued but non-vested restricted shares. The Company expects to recognize the unrecognized compensation cost as follows: Fiscal 2018 - $2,544,000, Fiscal 2019 - $2,705,000, Fiscal 2020 - $1,121,000 and Fiscal 2021 - $63,000.

Loss Per Share

Loss Per Share	3 Months Ended
	Oct. 31, 2017
Loss Per Share [Abstract]
Loss Per Share	Note 10—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 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 2017 2016 (in thousands) Stock options 42 3 Warrants 60 — Non-vested restricted Class B common stock 269 118 Shares excluded from the calculation of diluted loss per share 371 121 The following table sets forth the number of stock options 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: Three Months Ended 2017 2016 (in thousands) Warrants 5 — Stock options — 88 Shares excluded from the calculation of diluted loss per share 5 88

Related Party Transactions

Related Party Transactions	3 Months Ended
	Oct. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 11—Related Party Transactions Legal Fees The Company retained the services of two law firms to perform legal services. With respect to each of the firms, a non-employee director of the Company is a partner. Legal fees incurred amounted to approximately $21,000 in Fiscal 2018 and $128,000 in Fiscal 2017. At October 31, 2017 and July 31, 2017, the accounts payable balances owed to the law firms amounted to approximately $57,000 and $29,000, respectively. Accrued expenses incurred to the law firms at October 31, 2017 and July 31, 2017 totaled $0 and $900,000, respectively. 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 provided 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, Fiscal 2017 or through October 31, 2017, except as follows. On October 24, 2017, the Company and IDT entered into the IDT Settlement Agreement, providing for the settlement and mutual release of certain potential indemnification claims asserted by each of the Company and IDT, and to sell the Company’s interest in Straight Path IP Group to IDT. For further discussion, please see Note 3 – Settlement of Claims with IDT and Sale of Straight Path IP Group 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 Fiscal 2018 and Fiscal 2017.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 31, 2017
Income Taxes [Abstract]
Income Taxes	Note 12—Income Taxes The Company recorded no federal income tax expense for Fiscal 2018 and Fiscal 2017 because the estimated annual effective tax rate was zero. As of October 31, 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 Fiscal 2018 and Fiscal 2017 represents state income taxes. The federal return of Straight Path for the year ended July 31, 2015 was audited by the Internal Revenue Service (“IRS”). The IRS made two adjustments which did not lead to any taxes being due or changes to the financial statements and as such the Company decided not to appeal them. The only change is to reduce our net operating loss carryforward.

Business Segment Information

Business Segment Information	3 Months Ended
	Oct. 31, 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, leases, and markets fixed 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, has been designated. Straight Path Ventures 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, Straight Path Spectrum, and Straight Path Ventures and prior to October 24, 2017, Straight Path IP Group 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. For the period from February 1, 2016 to October 23, 2017, these expenses were 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 were allocated 100% to Straight Path Ventures; 2. Employment expenses of our Chief Technology Officer were 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 were allocated 20% to Straight Path Spectrum and 80% to Straight Path Ventures; 4. Employment expenses related to several other employees were 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 then-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. As a result of the sale of Straight Path IP Group on October 24, 2017, the Company changed its allocations again as follows: 1. Expenses related to the Gigabit Mobility Lab are being allocated 100% to Straight Path Ventures; 2. Employment expenses of our Chief Technology Officer and one other employee are being allocated 20% to Straight Path Spectrum, and 80% to Straight Path Ventures; 3. All of the corporate general and administrative expenses of Straight Path are being allocated 100% to Straight Path Spectrum; 4. Employment expenses related to several other employees are being allocated 100% to Straight Path Spectrum. Operating results for the continuing business segments of the Company were as follows: Straight Straight Path Path Spectrum Ventures Total (in thousands) Three Months Ended October 31, 2017 Revenues $ 165 $ - $ 165 Loss from operations (12,739 ) (491 ) (13,230 ) Three Months Ended October 31, 2016 Revenues $ 159 $ - $ 159 Loss from operations (2,986 ) (417 ) (3,403 ) Total assets for the continuing business segments of the Company were as follows: Straight Straight Path Path Spectrum Ventures Total (in thousands) October 31, 2017 $ 8,997 $ 1,100 $ 10,097 July 31, 2017 8.740 1,100 9,840

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 31, 2017
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 14—Commitments and Contingencies Legal Proceedings Regulatory Enforcement 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. Straight Path Spectrum is barred from entering into any new leases of its spectrum. 5. 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. 6. 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). 7. 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. We recorded the Initial Civil Penalty of $15 million in Fiscal 2017. The associated expense was classified as “civil penalty – FCC consent decree” on the consolidated statement of operations in the third quarter of Fiscal 2017. All of the installments of the Initial Civil Penalty totaling $15 million were paid. As discussed in Note 2, we entered into the Verizon Merger Agreement. If the Merger is consummated, the fee owed per Item 6 above will be paid by Verizon as part of the Merger. On June 1, 2017, the Company and Verizon submitted applications to the FCC seeking consent to transfer control of the Company’s spectrum licenses to Verizon. The transfer of control applications was referenced on an FCC Public Notice on July 21, 2017, and the FCC established a pleading cycle, allowing interested parties to comment on why the transaction should be approved or denied. Petitions to deny the application were due on August 11, 2017, oppositions to those petitions due on August 18, 2017 and replies to those oppositions were due on August 25, 2017. Three parties – the Competitive Carriers Association, Public Knowledge and New America’s Open Technology Institute, and U.S. Telepacific – filed petitions to deny the transaction, change its recommendation of the Merger and terminate the Verizon Merger Agreement in connection therewith. The petitioning parties argued that approval of the transaction would result in excessive spectrum aggregation in local markets, undermine competition in 5G mobile broadband by precluding others from acquiring 5G spectrum, improperly benefit Straight Path in violation of the FCC Consent Decree, and terminate existing spectrum leases. In response, the Company and Verizon argued that approval of this transaction will advance 5G leadership. We and Verizon explained that the transaction will not create any competitive issues, and, once Verizon acquires the spectrum, it will remain below the FCC’s spectrum threshold for competitive review across the vast majority of markets. We and Verizon argued that opponents of the transaction cannot use the transaction to challenge the Consent Decree, review of this transaction must be limited to the transaction, and that the terms of the Consent Decree are final and are the result of the FCC’s deliberate and sound policy choices. We and Verizon clarified that Verizon will honor our contractual obligations under existing spectrum leases with third parties. In their replies, the parties opposing the transaction maintained their prior arguments, and also argued that the FCC should auction the Company’s spectrum licenses instead of approving the transaction and that the transaction is not in the public interest. On September 7, 2017, and September 21, 2017, Hammer Fiber Optics (“Hammer”) filed ex parte letters noting a number of meetings with staff from the FCC’s Wireless Telecommunications Bureau (“WTB”) and Office of Engineering and Technology, and meetings with Chairman Ajit Pai’s, Commissioner Mignon Clyburn’s, and Commissioner Brendan Carr’s legal advisors. In the letters, Hammer discussed the relevance of the transaction with respect to the service it is providing, and also stated that it did not object to Verizon’s acquisition of our LMDS spectrum. On October 23, 2017, October 24, 2017 and November 9, 2017, the Competitive Carriers Association filed ex parte letters, noting meetings with staff from the WTB and Chairman Ajit Pai’s and Commissioner Brendan Carr’s legal advisors, and supplementing its prior filings in the transaction. In the letters, the Competitive Carriers Association reiterated its prior arguments regarding spectrum aggregation in local markets, 5G mobile broadband competition, and the Consent Decree. We believe that the submission to the FCC by us and Verizon of an application to transfer control of our spectrum licenses to Verizon satisfies the requirement under the Consent Decree as described in Item 6 above. However, if the Merger is not completed for any reason, there is no guarantee that the FCC would not seek to require us 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 we 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 our remaining spectrum licenses, either of which will have a material adverse effect on our financial condition and results of operations. Shareholder Litigation On July 5, 2017, JDS1 LLC, a putative Straight Path stockholder, filed a class action and derivative complaint in the Delaware Court of Chancery captioned JDS1, LLC v. IDT Corp. The Arbitrage Fund v. Jonas In re Straight Path Communications Inc. Consolidated Stockholder Litigation 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 On January 29, 2016, a shareholder derivative action captioned Hofer v. Jonas et al Zacharia Settlement of Claims with IDT and Sale of Straight Path IP Group On April 9, 2017, the Company and IDT entered into the IDT 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”). For further discussion, please see Note 3 – Settlement of Claims with IDT and Sale of Straight Path IP Group PTPMS On May 29, 2012, the Company acquired certain licenses from PTPMS under an asset purchase agreement (the “PTPMS agreement”). On October 5, 2017, PTPMS filed a declaratory judgment action against the Company in the Superior Court of New Jersey, Law Division: Union County captioned PTPMS Communications, LLC v. Straight Path Communications Inc. Other Legal In addition to the foregoing, the Company may from time to time be subject to other legal proceedings that arise in the ordinary course of business. FCC License Renewal Our spectrum licenses in the 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. That deadline was confirmed by the FCC in its Order on Reconsideration adopted on November 16, 2017. 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 deadline of August 10, 2018 and six of these licenses currently have a renewal deadline of September 21, 2018. 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. On August 3, 2017, the FCC adopted new rules governing the process by which licensees may seek renewal of their authorizations. Pursuant to those new rules, we believe that incumbent LMDS licensees that have already renewed their authorizations once (as we have) will not be required to demonstrate substantial service at renewal. Therefore, while we will be required to renew our authorizations for LMDS A2, A3 and B Blocks in 2018, no substantial service demonstration will be required until 2023. 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 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 $22,000 and $17,000 was incurred to the Former SPSI CEO for this obligation for Fiscal 2018 and Fiscal 2017, respectively. For a further discussion, see Note 2 – Verizon Merger Agreement

Summary of Significant Accoun22

Summary of Significant Accounting Policies and Recent Pronouncements (Policies)	3 Months Ended
	Oct. 31, 2017
Summary of Significant Accounting Policies and Recent Pronouncements [Abstract]
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, 2017. 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, “R evenue from Contracts with Customers (Topic 606): Deferral of Effective Date Effective February 1, 2017, 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) Effective August 1, 2017, the Company adopted 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 May 2017, the FASB issued ASU 2017-09, “ Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting ” 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.

Settlement of Claims with IDT23

Settlement of Claims with IDT and Sale of Straight Path IP Group (Tables)	3 Months Ended
	Oct. 31, 2017
Settlement of Claims with IDT and Sale of Straight Path IP Group [Abstract]
Schedule of discontinued operations of straight path IP group	Three Months Ended October 31, 2017 2016 (in thousands) Revenues $ - $ - Costs and expenses: Selling, general and administrative 1,294 875 Total costs and expenses 1,294 875 Loss from operations (1,294 ) (875 ) Other income (expense): Interest expense including amortization of debt discounts (195 ) - Interest income - 2 Total other income (expense) (195 ) 2 Loss provision for income taxes (1,489 ) (873 ) Provision for income taxes - (1 ) Net loss (1,489 ) (874 ) Loss attributable to noncontrolling interests 229 124 Net loss from discontinued operations attributable to Straight Path Communications Inc. $ (1,260 ) $ (750 )

Loan Payable (Tables)

Loan Payable (Tables)	3 Months Ended
	Oct. 31, 2017
Loan Payable [Abstract]
Schedule of fair value of the warrants using the Black-Scholes option pricing model	Risk-free interest rate 1.01% - 1.15 % Dividend yield 0 % Volatility 5 % Expected term (in years) 1.25 - 1.42

Equity (Tables)

Equity (Tables)	3 Months Ended
	Oct. 31, 2017
Equity [Abstract]
Schedule of options warrant activity	Warrants Weighted- Weighted- Aggregate Outstanding as of August 1, 2017 111,378 $ 43.68 1.4 $ 15,118 Granted 17,251 179.60 Exercised (30,475 ) 34.70 Cancelled/Forfeited — — Outstanding and exercisable as of October 31, 2017 98,154 $ 70.35 1.1 $ 10,911
Schedule of warrants and excercisable	Warrants Outstanding and Exercisable Number Weighted- Weighted- Number Exercise prices: $34.70 74,004 1.1 $ 34.70 74,004 $ 179.18 - $180.48 24,150 1.1 179.61 24,150 98,154 1.1 $ 70.35 98,154

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Oct. 31, 2017
Loss Per Share [Abstract]
Summary of shares excluded from diluted earnings per share computations	Three Months Ended 2017 2016 (in thousands) Stock options 42 3 Warrants 60 — Non-vested restricted Class B common stock 269 118 Shares excluded from the calculation of diluted loss per share 371 121
Schedule of number of stock options to purchase Class B common stock which were excluded from the diluted per share	Three Months Ended 2017 2016 (in thousands) Warrants 5 — Stock options — 88 Shares excluded from the calculation of diluted loss per share 5 88

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Oct. 31, 2017
Business Segment Information [Abstract]
Summary of operating results for the business segments	Straight Straight Path Path Spectrum Ventures Total (in thousands) Three Months Ended October 31, 2017 Revenues $ 165 $ - $ 165 Loss from operations (12,739 ) (491 ) (13,230 ) Three Months Ended October 31, 2016 Revenues $ 159 $ - $ 159 Loss from operations (2,986 ) (417 ) (3,403 )
Summary of total assets for the business segments	Straight Straight Path Path Spectrum Ventures Total (in thousands) October 31, 2017 $ 8,997 $ 1,100 $ 10,097 July 31, 2017 8.740 1,100 9,840

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Mar. 07, 2017	Jan. 11, 2017	Oct. 31, 2017
Basis of Presentation (Textual)
Initial civil penalty payment		$ 15,000
Settlement of initial payment	$ 2,250
Additional settlement payment	$ 7,200
Straight Path Spectrum [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) - USD ($)	May 11, 2017	Apr. 09, 2017	Oct. 31, 2017	Aug. 02, 2017
Verizon Merger Agreement (Textual)
Nonassessable shares of common stock, value	$ 184
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").
Termination fee	$ 38,000,000	$ 38,000,000	$ 38,000,000
Parent termination fee			85,000,000
Incurred costs in merger agreement	$ 60,000
Payment to consent decree, percentage	20.00%
Financial advisor and legal fees	$ 63,900,000
Special meeting voting percentage		22.00%		99.00%
Verizon Merger Agreement [Member]
Verizon Merger Agreement (Textual)
Special meeting voting percentage				89.00%
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
Superior offer [Member]
Verizon Merger Agreement (Textual)
Termination fee			$ 38,000,000
Common Class A [Member] | Verizon Merger Agreement [Member]
Verizon Merger Agreement (Textual)
Common stock, par value	$ 0.01
Common Class B [Member] | Verizon Merger Agreement [Member]
Verizon Merger Agreement (Textual)
Common stock, par value	$ 0.01

Settlement of Claims with IDT30

Settlement of Claims with IDT and Sale of Straight Path IP Group (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 165	$ 159
Costs and expenses:
Selling, general and administrative	3,241	3,361
Total costs and expenses	3,395	3,562
Loss from operations	(13,230)	(3,403)
Other income (expense):
Interest expense including amortization of debt discounts	836
Interest income	6	7
Total other income (expense)	(830)	29
Loss provision for income taxes	(14,060)	(3,374)
Provision for income taxes	(7)	(7)
Net loss	(15,556)	(4,255)
Net loss from discontinued operations attributable to Straight Path Communications Inc.	(15,327)	(4,131)
Discontinued Straight Path IP Group [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues
Costs and expenses:
Selling, general and administrative	1,294	875
Total costs and expenses	1,294	875
Loss from operations	(1,294)	(875)
Other income (expense):
Interest expense including amortization of debt discounts	(195)
Interest income		2
Total other income (expense)	(195)	2
Loss provision for income taxes	(1,489)	(873)
Provision for income taxes		(1)
Net loss	(1,489)	(874)
Loss attributable to noncontrolling interests	229	124
Net loss from discontinued operations attributable to Straight Path Communications Inc.	$ (1,260)	$ (750)

Settlement of Claims with IDT31

Settlement of Claims with IDT and Sale of Straight Path IP Group (Details Textual) - USD ($)	Apr. 09, 2017	Oct. 31, 2017	Aug. 02, 2017
Settlement of Claims with IDT and Sale of Straight Path IP Group (Textual)
Payment of IDT	$ 10,000,000
Percentage of net proceeds received by shareholders	22.00%		99.00%
Total incurred costs of negotiation and execution of term sheet	$ 1,029,000
Recognized a profit	2,276,000
Company contributed to trust		$ 750,000
Payement of remaining trust	3,750,000
Agreed amount to contribute to trust	4,500,000
Payment for ownership interest	$ 6,000,000

Loan Payable (Details)

Loan Payable (Details)	3 Months Ended
	Oct. 31, 2017
Schedule of fair value assumptions
Dividend yield	0.00%
Volatility	5.00%
Minimum [Member]
Schedule of fair value assumptions
Risk-free interest rate	1.01%
Expected term (in years)	1 year 2 months 30 days
Maximum [Member]
Schedule of fair value assumptions
Risk-free interest rate	1.15%
Expected term (in years)	1 year 5 months 1 day

Loan Payable (Details Textual)

Loan Payable (Details Textual) - USD ($)	Dec. 01, 2017	Nov. 01, 2017	Oct. 02, 2017	Sep. 01, 2017	Aug. 02, 2017	Jul. 03, 2017	Feb. 06, 2017	Oct. 22, 2017	Oct. 31, 2017	Apr. 30, 2017	Oct. 31, 2016	Jul. 31, 2017
Loan Payable (Textual)
Loans payable									$ 3,334,000			$ 11,274,000
Proceeds from aggregate warrants									1,057,000
Amendment and waiver agreement, description								Significant terms of the Amended Loan Agreement include the following: 1. The maturity date of the loan was changed to the earlier of (i) March 31, 2018 or (ii) the consummation of the Merger. 2. The Company paid the Lenders $8.5 million of the outstanding Loan Amount and a 1% prepayment premium of $85,000. 3. Each warrantholder is entitled to elect, solely at the discretion of the warrantholder, to exercise any warrants held by such warrantholder (i) by cashless exercise in accordance with their terms or (ii) by paying the applicable warrant price per share (in which case such exercise will not result in any corresponding reduction of the Loan Amount and interest outstanding). 4. The Company paid the Lenders an amendment fee of $38,754. 5. The Lenders consented to the sale of Straight Path IP Group by the Company and the release of the security interest related to Straight Path IP Group. 6. No additional warrants shall be issued after December 1, 2017.
Class B common stock [Member]
Loan Payable (Textual)
Warrant issued to purchase common stock			5,152	5,188	6,911	6,899	252,161			147,682
Warrants exercise price			$ 180.48	$ 179.18	$ 179.26	$ 179.62	$ 34.70
Warrants expire date							Dec. 31, 2018
Proceeds from aggregate warrants							$ 7,500,000
Subsequent Event [Member] | Class B common stock [Member]
Loan Payable (Textual)
Warrant issued to purchase common stock	1,605	1,610
Warrants exercise price	$ 182.02	$ 181.29
Loan Agreement [Member]
Loan Payable (Textual)
Borrowed from investors							$ 17,500,000
Interest rate							5.00%
Interest rate, increased							10.00%
Loan maturity date							Dec. 29, 2017
Payments of initial civil penalty							$ 15,000,000
Payments of first installments									$ 5,125,000
Warrant issued to purchase common stock									147,682
Percentage of warrant description									The Lenders were entitled to receive additional warrants on a monthly basis with an aggregate value equal to 10% of the then outstanding Loan Amount for the months of July 2017 and August 2017 and then 7.5% of the then outstanding Loan Amount for the months of August 2017 through December 2017.
Cash costs												80,000
Amortization amount									$ 530,000			0
Amortization in discontinued operations									119,000			0
Interest expense, debt									306,000			0
Interest expense in discontinued operations									76,000			0
Loans payable									3,334,000			11,274,000
Unamortized debt discounts									$ 541,000			$ 1,101,000

Equity (Details)

Equity (Details) - Warrant [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2017USD ($)$ / sharesshares
Class of Warrant or Right [Line Items]
Warrants Outstanding, Beginning Balance | shares	111,378
Warrants, Granted | shares	17,251
Warrants, Exercised | shares	(30,475)
Warrants, Cancelled/Forfeited | shares
Warrants Outstanding, and exercisable | shares	98,154
Weighted-average Exercise Price, Beginning Balance | $ / shares	$ 43.68
Weighted-average Exercise Price, Granted | $ / shares	179.60
Weighted-average Exercise Price, Exercised | $ / shares	34.70
Weighted-average Exercise Price, Cancelled/Forfeited | $ / shares
Weighted-average Exercise Price Outstanding and Exercisable | $ / shares	$ 70.35
Weighted-average Remaining Contractual Term (in years), Outstanding	1 year 4 months 24 days
Weighted-average Remaining Contractual Term (in years), Exercisable	1 year 1 month 6 days
Aggregate Intrinsic Value, Beginning Balance | $	$ 15,118
Aggregate Intrinsic Value, Outstanding and exercisable | $	$ 10,911

Equity (Details 1)

Equity (Details 1) - Warrant [Member] - $ / shares	3 Months Ended
	Oct. 31, 2017	Jul. 31, 2017
Class of Warrant or Right [Line Items]
Warrants Outstanding, Ending Balance	98,154	111,378
Warrants Outstanding, Weighted-Average Remaining Life In Years	1 year 4 months 24 days
Warrants Outstanding, Weighted-average Exercise Price	$ 70.35	$ 43.68
Warrants Outstanding, Number Exercisable	98,154
$ 34.70 [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding, Ending Balance	74,004
Warrants Outstanding, Weighted-Average Remaining Life In Years	1 year 1 month 6 days
Warrants Outstanding, Weighted-average Exercise Price	$ 34.70
Warrants Outstanding, Number Exercisable	74,004
$ 179.18 - $180.48 [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding, Ending Balance	24,150
Warrants Outstanding, Weighted-Average Remaining Life In Years	1 year 1 month 6 days
Warrants Outstanding, Weighted-average Exercise Price	$ 179.61
Warrants Outstanding, Number Exercisable	24,150

Equity (Details Textual)

Equity (Details Textual) - USD ($)	Nov. 01, 2017	Feb. 06, 2017	Oct. 31, 2017	Oct. 31, 2016	Jul. 31, 2017
Equity (Textual)
Treasury stock, shares			40,000		40,000
Common stock issued for exercises of stock options			$ 8,000
Proceeds from warrant exercise received			1,057,000
Treasury Stock [Member]
Equity (Textual)
Number of shares held in treasury stock value			$ 427,916		$ 427,916
Treasury stock, shares			39,693		39,693
Common stock issued for exercises of stock options
Warrant [Member]
Equity (Textual)
Intrinsic value of warrants exercised			$ 4,467,330
Closing stock price			$ 181.51
Warrants Outstanding, Weighted-average Exercise Price			$ 70.35		$ 43.68
Class B common stock [Member]
Equity (Textual)
Proceeds from warrant exercise received		$ 7,500,000
Class B common stock [Member] | Common Stock [Member]
Equity (Textual)
Common stock issued for exercises of stock options, shares			1
Class B common stock [Member] | Warrant [Member]
Equity (Textual)
Common stock issued for exercises of warrants, shares			30,475,000
Proceeds from warrant exercise received			$ 1,057,000
Class B common stock [Member] | Warrant [Member] | Subsequent Event [Member]
Equity (Textual)
Issuances of warrants to purchase	3,215,000
Common stock issued for exercises of stock options	$ 283,000
Common stock issued for exercises of stock options, shares	50,000
Stock options [Member] | Class B common stock [Member]
Equity (Textual)
Common stock issued for exercises of stock options			$ 8,100,000
Common stock issued for exercises of stock options, shares			1,434,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	3 Months Ended	12 Months Ended
	Oct. 31, 2017	Jul. 31, 2017
Stock-Based Compensation (Textual)
Common stock shares reserved	64,033
Unrecognized compensation cost related to non-vested restricted share value	$ 6,433,000
Unrecognized compensation cost in fiscal 2018	2,544,000
Unrecognized compensation cost in fiscal 2019	2,705,000
Unrecognized compensation cost in fiscal 2020	1,121,000
Unrecognized compensation cost in fiscal 2021	63,000
Stock Options [Member]
Stock-Based Compensation (Textual)
Stock-based compensation	0	$ 19,000
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation (Textual)
Stock-based compensation	0	78,000
Class B common stock [Member]
Stock-Based Compensation (Textual)
Stock-based compensation	$ 132,000	451,000
Restricted common stock non vested -shares	244,000
Class B common stock [Member] | Selling, General and Administrative Expenses [Member]
Stock-Based Compensation (Textual)
Stock-based compensation	$ 819,000	$ 1,966,000

Loss Per Share (Details)

Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Shares excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted loss per share	371	121
Warrants [Member]
Shares excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted loss per share	60
Non-vested restricted Class B common stock [Member]
Shares excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted loss per share	269	118
Stock options [Member]
Shares excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted loss per share	42	3

Loss Per Share (Details 1)

Loss Per Share (Details 1) - shares shares in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Class of Stock [Line Items]
Shares excluded from the calculation of diluted loss per share	5	88
Warrants [Member]
Class of Stock [Line Items]
Shares excluded from the calculation of diluted loss per share	5
Stock options [Member]
Class of Stock [Line Items]
Shares excluded from the calculation of diluted loss per share		88

Related Party Transactions (Det

Related Party Transactions (Details) - Law firm [Member] - USD ($)	3 Months Ended	12 Months Ended
	Oct. 31, 2017	Jul. 31, 2017
Related Party Transactions (Textual)
Legal fees	$ 21,000	$ 128,000
Law firm owned accounts payable	57,000	29,000
Legal accrued expense	$ 0	$ 900,000

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Summary of operating results for the business segments
Revenues	$ 165	$ 159
Loss from operations	(13,230)	(3,403)
Straight Path Spectrum [Member]
Summary of operating results for the business segments
Revenues	165	159
Loss from operations	(12,739)	(2,986)
Straight Path Ventures [Member]
Summary of operating results for the business segments
Revenues
Loss from operations	$ (491)	$ (417)

Business Segment Information 42

Business Segment Information (Details 1) - USD ($) $ in Thousands	Oct. 31, 2017	Jul. 31, 2017
Summary of total assets for the business segments
Total assets	$ 10,097	$ 11,850
Straight Path Spectrum [Member]
Summary of total assets for the business segments
Total assets	8,997	8,740
Straight Path Ventures [Member]
Summary of total assets for the business segments
Total assets	$ 1,100	$ 1,100

Business Segment Information 43

Business Segment Information (Details Textual) - Segments	1 Months Ended		3 Months Ended	21 Months Ended
	Oct. 24, 2017	Jan. 31, 2016	Oct. 31, 2017	Oct. 23, 2017
Business Segment Information (Textual)
Reportable segments			2
Straight Path Ventures [Member] | Gigabit Mobility Lab [Member]
Business Segment Information (Textual)
Percentage of employment expenses	100.00%			100.00%
Straight Path Ventures [Member] | Chief Technology Officer [Member]
Business Segment Information (Textual)
Percentage of employment expenses				60.00%
Straight Path Ventures [Member] | One Employee [Member]
Business Segment Information (Textual)
Percentage of employment expenses				80.00%
Straight Path Ventures [Member] | One Other Employee [Member]
Business Segment Information (Textual)
Percentage of employment expenses	80.00%
Straight Path IP Group [Member]
Business Segment Information (Textual)
Percentage of employment expenses	20.00%	80.00%		20.00%
Straight Path IP Group [Member] | Chief Technology Officer [Member]
Business Segment Information (Textual)
Percentage of employment expenses				20.00%
Straight Path Spectrum [Member]
Business Segment Information (Textual)
Percentage of employment expenses		20.00%		80.00%
Straight Path Spectrum [Member] | General and Administrative Expense [Member]
Business Segment Information (Textual)
Percentage of employment expenses	100.00%
Straight Path Spectrum [Member] | Chief Technology Officer [Member]
Business Segment Information (Textual)
Percentage of employment expenses	20.00%			20.00%
Straight Path Spectrum [Member] | One Employee [Member]
Business Segment Information (Textual)
Percentage of employment expenses				20.00%
Straight Path Spectrum [Member] | Other Employees [Member]
Business Segment Information (Textual)
Percentage of employment expenses	100.00%			100.00%

Commitments and Contingencies (

Commitments and Contingencies (Details)	Jul. 11, 2017USD ($)	May 11, 2017	Apr. 11, 2017USD ($)	Mar. 07, 2017USD ($)	Feb. 11, 2017USD ($)	Jan. 11, 2017USD ($)Installments	Sep. 24, 2014Patent	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Jul. 31, 2016License
Commitments and Contingencies (Textual)
Infringe of patents | Patent							4
Payment to consent decree, percentage		20.00%
Payment of penalty								$ 85,000,000
Additional payment								85,000,000
Loans from lenders								$ 17,500,000
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 FCC, 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 litigation				$ 2,250,000
Straight Path Spectrum [Member] | LMDS 28 GHz range [Member] | Licenses expire on august 10, 2018 [Member]
Commitments and Contingencies (Textual)
Licenses to be expired | License										5
Straight Path Spectrum [Member] | LMDS 28 GHz range [Member] | Licenses expire on september 21,2018 [Member]
Commitments and Contingencies (Textual)
Licenses to be expired | License										112
Straight Path Spectrum [Member] | Former Chief Executive Officer [Member]
Commitments and Contingencies (Textual)
Payments to be made from revenue, percentage								50.00%
Amount of maximum future payment for wireless spectrum licenses								$ 3,250,000
Amount incurred for obligation								$ 22,000	$ 17,000
Straight Path Spectrum'S Spectrum Licenses [Member]
Commitments and Contingencies (Textual)
Payments of initial civil penalty						$ 15,000,000
Installment value	$ 3,500,000		$ 4,000,000		$ 4,000,000
Number of installments | Installments						4
Initial civil penalty						$ 15,000,000
Payments of additional penalty						$ 85,000,000