Cover
Cover - USD ($) | 12 Months Ended | ||
Jul. 31, 2024 | Nov. 13, 2024 | Jan. 31, 2024 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jul. 31, 2024 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2024 | ||
Current Fiscal Year End Date | --07-31 | ||
Entity File Number | 000-56196 | ||
Entity Registrant Name | ODYSSEY HEALTH, INC. | ||
Entity Central Index Key | 0001626644 | ||
Entity Tax Identification Number | 47-1022125 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 2300 West Sahara Avenue | ||
Entity Address, Address Line Two | Suite 800 - #4012 | ||
Entity Address, City or Town | Las Vegas | ||
Entity Address, State or Province | NV | ||
Entity Address, Postal Zip Code | 89102 | ||
City Area Code | 702 | ||
Local Phone Number | 780-6559 | ||
Trading Symbol | ODYY | ||
Title of 12(g) Security | Common Stock ($0.001 par value) | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 6,881,266 | ||
Entity Common Stock, Shares Outstanding | 96,709,763 | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Firm ID | 76 | ||
Auditor Name | Turner, Stone & Company, L.L.P. | ||
Auditor Location | Dallas, Texas |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Current assets: | ||
Cash | $ 2,379 | $ 36,865 |
Research and development rebate due from the Australian government | 22,625 | 276,566 |
Prepaid expenses and other current assets | 31,939 | 92,457 |
Total current assets | 56,943 | 405,888 |
Intangible assets, net | 0 | 49,905 |
Investment | 529,203 | 0 |
Total assets | 586,146 | 455,793 |
Current liabilities: | ||
Accounts payable | 1,275,996 | 1,797,656 |
Accrued wages | 1,648,586 | 1,402,348 |
Accrued interest | 223,754 | 142,032 |
Asset purchase liability | 1,125,026 | 1,125,026 |
Notes payable, officers and directors | 100,000 | 125,000 |
Notes payable, net of unamortized beneficial conversion feature, debt discount and closing costs of $38,134 and $280,340 | 1,546,533 | 2,019,660 |
Total current liabilities | 5,919,895 | 6,611,722 |
Commitments and contingencies | ||
Stockholders’ deficit: | ||
Preferred stock, $.001 par value; 100,000,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $.001 par value; 500,000,000 shares authorized with 96,709,763 and 79,067,879 issued and outstanding as of July 31, 2024 and July 31, 2023, respectively | 96,710 | 79,068 |
Additional paid-in capital | 55,572,687 | 53,862,378 |
Accumulated deficit | (61,003,146) | (60,097,375) |
Total stockholders’ deficit | (5,333,749) | (6,155,929) |
Total liabilities and stockholders’ deficit | $ 586,146 | $ 455,793 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Notes payable, net of unamortized beneficial conversion feature, debt discount and closing costs | $ 38,134 | $ 280,340 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 96,709,763 | 79,067,879 |
Common stock, shares outstanding | 96,709,763 | 79,067,879 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Income Statement [Abstract] | ||
In-process research and development expense | $ 0 | $ 170,000 |
Research and development expense | 55,166 | 201,329 |
Stock-based compensation | 577,805 | 2,820,311 |
General and administrative expense | 1,506,641 | 2,122,375 |
Gain on sale of asset | 16,400,687 | 0 |
Income (loss) from operations | 14,261,075 | (5,314,015) |
Impairment of investment | (12,955,437) | 0 |
Unrealized loss on investment | (1,638,743) | |
Interest expense | (518,476) | (614,083) |
Other income, net | 9,265 | 8,677 |
Net loss | (842,316) | (5,919,421) |
Deemed dividend | (63,455) | 0 |
Net loss attributable to common stockholders | $ (905,771) | $ (5,919,421) |
Basic net loss per share attributable to common stockholders | $ (0.01) | $ (0.07) |
Diluted net loss per share attributable to common stockholders | $ (0.01) | $ (0.07) |
Shares used for basic net loss per share attributable to common stockholders | 97,064,040 | 82,677,354 |
Shares used for diluted net loss per share attributable to common stockholders | 97,064,040 | 82,677,354 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jul. 31, 2022 | $ 77,861 | $ 49,456,476 | $ (54,177,954) | $ (4,643,617) |
Beginning balance, shares at Jul. 31, 2022 | 77,860,563 | |||
Stock-based compensation | $ 2,300 | 2,818,011 | 2,820,311 | |
Stock-based compensation, shares | 2,300,000 | |||
Common stock issued in equity financing | $ 3,634 | 576,586 | 580,220 | |
Common stock issued in equity financing, shares | 3,633,591 | |||
Common stock issued in conversion of debt | $ 2,860 | 475,140 | 478,000 | |
Common stock issued in conversion of debt, shares | 2,860,000 | |||
Common stock issued in debt financing | $ 213 | 13,230 | 13,443 | |
Common stock issued in debt financing, shares | 213,725 | |||
Common stock issued in option purchase agreement | $ 1,000 | 169,000 | 170,000 | |
Common stock issued in option purchase agreement, shares | 1,000,000 | |||
Warrants issued in debt financing | 345,135 | 345,135 | ||
Net loss | (5,919,421) | (5,919,421) | ||
Return of shares to treasury | $ (8,800) | 8,800 | 0 | 0 |
Return of shares to treasury, shares | (8,800,000) | |||
Ending balance, value at Jul. 31, 2023 | $ 79,068 | 53,862,378 | (60,097,375) | (6,155,929) |
Ending balance, shares at Jul. 31, 2023 | 79,067,879 | |||
Stock-based compensation | $ 1,850 | 575,955 | 577,805 | |
Stock-based compensation, shares | 1,850,000 | |||
Common stock issued in equity financing | $ 600 | 55,020 | 55,620 | |
Common stock issued in equity financing, shares | 600,000 | |||
Common stock issued in conversion of debt | $ 11,756 | 990,867 | 1,002,623 | |
Common stock issued in conversion of debt, shares | 11,754,781 | |||
Warrants issued in debt financing | 28,448 | 28,448 | ||
Warrants exercised in connection with debt financing | $ 3,536 | (3,536) | ||
Warrants exercised in connection with debt financing, shares | 3,537,103 | |||
Return of shares | $ (100) | 100 | ||
Return of shares to treasury, shares | (100,000) | |||
Deemed dividend | 63,455 | (63,455) | ||
Net loss | (842,316) | (842,316) | ||
Ending balance, value at Jul. 31, 2024 | $ 96,710 | $ 55,572,687 | $ (61,003,146) | $ (5,333,749) |
Ending balance, shares at Jul. 31, 2024 | 96,709,763 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (842,316) | $ (5,919,421) |
Adjustments to reconcile net loss to net cash flows used in operating activities: | ||
Amortization | 1,538 | 3,416 |
Stock-based compensation | 577,805 | 2,820,311 |
Gain on sale of asset | (16,400,687) | 0 |
Impairment of investment | 12,955,437 | 0 |
Unrealized loss on investment | 1,638,743 | |
Financing costs paid with issuance of common stock | 8,750 | 1,750 |
Amortization of beneficial conversion feature, debt discount and closing costs | 330,654 | 532,434 |
In-process research and development | 0 | 170,000 |
Changes in operating assets and liabilities: | ||
(Increase) decrease in prepaid expenses and other current assets | 60,518 | (5,048) |
Decrease in research and development rebate due from Australian government | 253,941 | 89,908 |
Increase (decrease) in accounts payable | (195,988) | 248,087 |
Increase in accrued wages | 246,238 | 505,648 |
Increase in accrued interest | 150,157 | 78,219 |
Net cash used in operating activities | (1,215,210) | (1,474,696) |
Cash flows from investing activities: | ||
Cash proceeds from sale of assets | 1,000,000 | 0 |
Purchase of intellectual property | 0 | (10,061) |
Net cash provided by (used in) investing activities | 1,000,000 | (10,061) |
Cash flows from financing activities: | ||
Proceeds from notes payable | 400,000 | 903,868 |
Principal payments made on notes payable | (274,896) | (35,000) |
Proceeds from equity financing | 55,620 | 580,220 |
Net cash provided by financing activities | 180,724 | 1,449,088 |
Decrease in cash | (34,486) | (35,669) |
Cash: | ||
Beginning of period | 36,865 | 72,534 |
End of period | 2,379 | 36,865 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 37,376 | 3,431 |
Supplemental disclosure of non-cash information: | ||
Common stock issued to settle notes payable | 925,437 | 478,000 |
Accrued interest paid with common stock | 68,435 | 0 |
Increase in fees related to extension of LGH debt maturity date recorded as additional principal | 60,000 | 0 |
Warrants issued in exchange for debt financing fees | 28,448 | 345,135 |
Shares returned to treasury | 100 | 8,800 |
Deemed dividend | 63,455 | 0 |
Original issue discount on debt | 0 | 98,048 |
Stock issued in exchange for closing costs | 0 | 13,443 |
Accounts payable assumed by Oragenics | 325,672 | 0 |
Increase in principal of notes payable | 0 | 406,132 |
Shares issued for exercised warrants | $ 3,537 | $ 0 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Pay vs Performance Disclosure [Table] | ||
Net Income (Loss) | $ (842,316) | $ (5,919,421) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jul. 31, 2024 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Nature of Operations and Going
Nature of Operations and Going Concern | 12 Months Ended |
Jul. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Going Concern | Note 1. Nature of Operations and Going Concern Our corporate mission is to create or acquire distinct assets, intellectual property, and technologies with an emphasis on acquisition targets that have clinical utility and will generate positive cash flow. Our business model is to develop or acquire medical related products, engage third parties to manufacture such products and then distribute the products through various distribution channels, including third parties. We have three different life saving technologies; the CardioMap® heart monitoring and screening device, the Save a Life choking rescue device and a 50% ownership in unique neurosteroid drug compound intended to treat rare brain disorders. We intend to acquire other technologies and assets and plan to be a trans-disciplinary product development company involved in the discovery, development and commercialization of products and technologies that may be applied over various medical markets. We plan to license, improve and/or develop our products and identify and select distribution channels. We intend to establish agreements with distributors to get products to market quickly as well as to undertake and engage in our own direct marketing efforts. We will determine the most effective method of distribution for each unique product that we include in our portfolio. We will engage third-party research and development firms who specialize in the creation of our products to assist us in the development of our own products and we will apply for trademarks and patents once we have developed proprietary products. We are not currently selling or marketing any products, as our products are in development and Food and Drug Administration (“FDA”) clearance or approval to market our products will be required to sell in the United States. In addition, it would require additional European union or country specific clearance or approvals to sell internationally. We did not recognize any revenues for the years ended July 31, 2024 (“fiscal 2024”) or 2023 (“fiscal 2023”) and we had an accumulated deficit of $ 61,003,146 5,919,895 56,943 5,862,952 The operating deficit and negative working capital at July 31, 2024 indicate substantial doubt about our ability to continue as a going concern. Our continued existence depends on the success of our efforts to raise additional capital necessary to meet our obligations as they come due and to obtain sufficient capital to execute our business plan. We may obtain capital primarily through issuances of debt or equity or entering into collaborative arrangements with corporate partners. There can be no assurance that we will be successful in completing additional financing or collaboration transactions or, if financing is available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we may be required to scale down or perhaps even cease operations. The issuance of additional equity securities could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, would increase our liabilities and future cash commitments. Our financial statements do not include adjustments that might result from the outcome of this uncertainty. We are continually adjusting our business plan to reflect our current liquidity expectations. If we are unable to raise additional capital, secure additional debt financing, secure additional equity financing, secure a strategic partner, reduce our operating expenditures, or seek bankruptcy protection, we will adjust our business plan. Given our recurring losses, negative cash flow, and accumulated deficit, there is substantial doubt about our ability to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jul. 31, 2024 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Basis of consolidation The consolidated financial statements include the accounts of Odyssey Health, Inc. and our wholly-owned subsidiary Odyssey Group International Australia, Pty Ltd (collectively, the “Company”). All intercompany balances and transactions have been eliminated. Use of estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) generally requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Basis of accounting We measure all of our assets and liabilities on the historical cost basis of accounting unless otherwise required by GAAP. Research and development rebate due from the Australian government We receive a 43.5% rebate at the end of each fiscal year from the Australian government on all research and development performed in Australia. We recorded the rebate as expenses were incurred as an offset to research and development as follows: Schedule of research and development offset Fiscal year ended July 31, 2024 2023 Research and development expense offset $ 53,578 $ 261,238 Prepaid expenses and other current assets Prepaid expenses and other current assets consist of loans and advances receivable and prepaid insurance. At July 31, 2024 we reserved $ 27,833 Intangible assets, net Intangible assets consisted of costs related to a patent for our concussion drug device combination. Amortization expense was as follows: Schedule of amortization expense Fiscal year ended July 31, 2024 2023 Amortization expense $ 1,538 $ 3,416 All intangible assets were sold in the second quarter of fiscal 2024. See Note 4. Investment Investment consists of 511,308 We also hold 7,488,692 The Preferred Stock was discounted based on conditions set forth in the Agreement stating 1) the Series F preferred stock converts into common stock on a 1-to-1 basis not exceeding 19.9% of the total outstanding shares of Oragenics’ common stock, 2) the continued listing of the Oragenics common stock on the NYSE American Exchange in order for the Series F to convert into common stock, 3) the Black-Scholes Pricing Model and 4) the limitations under SEC Rule 144, including (i) the number of shares available for sale, (ii) the prescribed holding period of six months, and (iii) affiliates restrictions on sell in excess of the greater of 1% of the total shares outstanding or the average of the previous four-week trading volume. Cost was originally determined utilizing the Black-Scholes pricing model inputs of (i) expected volatility of 79.4%, (ii) risk free interest rate of 5.6%, (ii) expected life of six months, and (iv) an implied discount rate of 25% for the known restrictions on the sale and conversion of the Series F preferred stock and the value at December 28, 2023 was $ 12,955,437 Due to the decrease in the value of underlying Oragenics common stock and based on conditions set forth in the Agreement above, we revalued the Series F preferred stock at July 31, 2024 and recorded a 100% impairment totaling $ 12,955,437 See Notes 4 and 6 for additional information regarding Oragenics. Beneficial conversion feature of convertible notes payable The beneficial conversion feature (“BCF”) of a convertible note (Note 7) is normally characterized as the convertible portion or feature of certain notes payable that provide a rate of conversion that is below market value or in-the-money when issued. We record a BCF related to the issuance of a convertible note when issued. Beneficial conversion features that are contingent upon the occurrence of a future event are recorded upon the occurrence of the event. The BCF of a convertible note is a reduction of the carrying amount of the convertible note equal to the intrinsic value of the conversion feature, both of which are credited to additional paid-in-capital and such discount is amortized over the expected term of the convertible note (or to the conversion date of the note, if sooner) and is charged to interest expense. Loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the year. Diluted net loss per share is computed giving effect to all potentially dilutive common stock and common stock equivalents, including stock options, convertible notes, RSUs and warrants. Basic and diluted net loss per share were the same for all years presented as we were in a loss position for all periods. See Note 12. Stock-based compensation We recognize stock-based compensation expense in accordance with ASC 718 for all restricted stock and stock option awards made to employees, directors and independent contractors. The fair value of stock option awards (Note 8) is estimated at the grant date using the Black-Scholes option-pricing model, and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period. We have elected to recognize compensation expense for all options with graded vesting on a straight-line basis over the vesting period of the entire option. The determination of fair value using the Black-Scholes pricing model is affected by our stock price, as well as by assumptions regarding a number of complex and subjective variables, including expected stock price volatility, risk free interest rate, expected dividends and projected stock option exercise behaviors. We estimate volatility based on historical volatility of our common stock, and estimate the expected term based on several criteria, including the vesting period of the grant and the term of the award. We estimate stock option exercise behavior based on assumptions regarding future exercise activity of unexercised, outstanding options. The fair value of stock awards is determined based on the fair value of our common stock on the date of grant. Fair value measurements The carrying values of cash, prepaid expenses and other current assets, accounts payable and accrued wages approximate their estimated fair values because of the short-term nature of these instruments. See Note 6. In-process research and development Our in-process research and development costs are expensed when incurred in accordance with with ASC 730-10-25-2(c) Topic 730 Research and Development. Pursuant to ASC 730-10-25-2(c), intangibles purchased from others for use in particular research and development projects and that have no alternative future use, in research and development or otherwise, represent costs of research and development as acquired, and therefore are expensed when incurred. In-process research and development relates to the value of 1,000,000 0.17 Research and development Research and development costs are expensed in the period when incurred. Income taxes Income taxes are accounted for based upon an asset and liability approach. Accordingly, deferred tax assets and liabilities arise from the difference between the tax basis of an asset or liability and its reported amount in the financial statements. Deferred tax amounts are determined using the tax rates expected to be in effect when the taxes will actually be paid or refunds received, as provided under currently enacted tax law. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense or benefit is the tax payable or refundable, respectively, for the period plus or minus the change in deferred tax assets and liabilities during the period. Accounting guidance requires the recognition of a financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant tax authority. We believe our income tax filing positions and deductions will be sustained upon examination and, accordingly, no reserves or related accruals for interest and penalties have been recorded at July 31, 2024 or 2023. We recognize interest and penalties on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Jul. 31, 2024 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | Note 3. New Accounting Pronouncements ASU 2020-06 In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40),” which simplifies the accounting for convertible instruments, reduces complexity for preparers and practitioners and improves the decision usefulness and relevance of the information provided to financial statement users. ASU 2020-06 also amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. We early adopted ASU 2020-06 for our fiscal year ending July 31, 2024. The adoption of ASU 2020-06 did not have any effect on our financial position, results of operations or cash flows except for the calculation of diluted earnings per share. ASU 2023-07 In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which enhances segment reporting under Topic 280 by expanding the breadth and frequency of segment disclosures. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. We have one segment. The adoption of ASU 2023-07 did not have any effect on our financial position, results of operations or cash flows. ASU 2023-09 In December 2023, the FASB issued ASU 2023-09, Income Taxes, which enhances the transparency of income tax disclosures by expanding annual disclosure requirements related to the rate reconciliation and income taxes paid. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures. |
Asset Sale Agreement with Orage
Asset Sale Agreement with Oragenics, Inc. | 12 Months Ended |
Jul. 31, 2024 | |
Asset Sale Agreement With Oragenics Inc. | |
Asset Sale Agreement with Oragenics, Inc. | Note 4. Asset Sale Agreement with Oragenics, Inc. On October 4, 2023, we entered into an Asset Sale Agreement (the “Agreement”) with Oragenics, which closed on December 28, 2023. Pursuant to the Agreement, we sold certain assets related to the treatment of brain related illnesses and diseases (the “Assets”) with a total carrying value of $ 48,367 1,000,000 8,000,000 325,672 16,449,054 16,400,687 The Assets include drug candidates for treating mild traumatic brain injury (“mTBI”), also known as concussion, and for treating Niemann Pick Disease Type C (“NPC”), as well as our proprietary powder formulation and its nasal delivery device. We received $ 500,000 500,000 8,000,000 511,308 511,308 Prior to closing, we were required to obtain the consent of Mast Hill Fund, L.P (“Mast Hill”) to consummate the closing of the Agreement. As part of the consent, we entered into a pledge agreement with Mast Hill granting a security interest in 154,545 The remaining shares of convertible Preferred Stock will convert upon Oragenics shareholder approval and upon certain listing and change in control criteria being achieved. Restrictions on the sale or conversion of the Preferred Stock must include all of the following: (i) the Corporation shall have applied for and been approved for initial listing on the NYSE American or another national securities exchange or shall have been delisted from the NYSE American, and (ii) if, and only if, required by the rules of the NYSE American, the Corporation’s shareholders shall have approved any change of control that could be deemed to occur upon the conversion of the Preferred Stock into Oragenics Common Stock, based on the facts and circumstances existing at such time. |
Asset Purchase Agreement and As
Asset Purchase Agreement and Asset Purchase Liability | 12 Months Ended |
Jul. 31, 2024 | |
Asset Purchase Agreement And Asset Purchase Liability | |
Asset Purchase Agreement and Asset Purchase Liability | Note 5. Asset Purchase Agreement and Asset Purchase Liability On January 7, 2021, we entered into an Asset Purchase Agreement (the “APA”) with Prevacus, Inc. (“Prevacus”), pursuant to which we purchased the assets and all of the rights, interests and intellectual property in a certain drug program (ONP-002) for treating mild brain trauma (concussion) and the delivery device (collectively, the “Asset”) in exchange for (i) 7,000,000 The Milestone Consideration (“Milestone”) may be earned by Prevacus as follows: (i) 2,000,000 shares of our common stock when the United States Patents are revived in our name by the U.S. Patent and Trademark Office and any international patents that have lapsed also revived in our name by the respective country’s patent offices. The value of shares issued were not to exceed $6.0 million based on the price of our common stock on the date the payment would have been due. This milestone was not met as the relevant patents lapsed; (ii) 1,000,000 shares of our common stock upon successful first dosing in a Phase I Clinical Trial for the Asset. This milestone was met in March 2022; (iii) 2,000,000 shares of our common stock upon the grant and issuance to us of a Patent for the Asset from the U.S. Patent and Trademark Office, the value of which shall not exceed $10.0 million based on the price of our common stock on the date the payment is due; (iv) 1,000,000 shares of our common stock upon our receipt of net proceeds of at least $1.0 million in a Non-Dilutive Financing relating directly to the development of the Asset within one year after the Closing Date or, in the event of any Non-Dilutive Financing submitted prior to the one-year anniversary of the Closing Date, the milestone will stay effective until the second year anniversary of the Closing Date. This milestone will not be met as the one-year deadline lapsed; (v) 2,000,000 shares of our common stock if we sell the Asset to a Third Party resulting in net proceeds to us of at least $50.0 million after a Phase IB Clinical Trial for which we are the sponsor is complete, but prior to completion of a Phase II Clinical Trial. The value of the 2,000,000 shares related to this milestone shall not exceed $25.0 million based on the price of our common stock on the date the payment is due. This milestone was not met; (vi) 4,000,000 shares of our common stock upon the successful completion of a Phase II Clinical Trial for the Asset that leads to (I) our sale of the Asset to a Third Party resulting in net proceeds to us of at least $50.0 million; or (II) the administration of the first dose in a Phase III Clinical Trial for the Asset for which we are, or one of our affiliates or licensees is the sponsor; and (vii) 2,000,000 shares of our common stock after the first dosing in a Phase II Clinical Trial and the successful completion of a Phase 1B human clinical trial. All Milestone payments shall only be paid once, upon the initial achievement of the particular Milestone event. We, at our sole and absolute discretion, shall determine if any Milestone event has occurred. To the extent the related milestones are not achieved, the above-mentioned Milestone payments will terminate and cease to exist, and we will no longer be liable thereunder, if said Milestone is not completed within four years after the Closing Date. On March 1, 2021 (the “Closing Date”), our APA with Prevacus closed and we issued 6,000,000 7,080,000 1,125,026 In addition, 1,000,000 1,180,000 We determined that, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 730 Research and Development (ASC 730-10-25-2(c)) and pursuant to ASC 730-10-25-2(c), intangibles purchased from others for use in particular research and development projects and that have no alternative future use in research and development or otherwise, represent costs of research and development as acquired, and therefore are expensed when incurred. Accordingly, On March 1, 2021, the date of acquisition, we expensed $9,440,000 as In-process research and development. |
Fair Value, Commitments and Con
Fair Value, Commitments and Contingent Liabilities | 12 Months Ended |
Jul. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Commitments and Contingent Liabilities | Note 6. Fair Value, Commitments and Contingent Liabilities The fair value of financial assets and liabilities are determined utilizing a three-level framework as follows: Level 1 – Observable inputs, such as unadjusted quoted prices in active markets, for substantially identical assets and liabilities. Level 2 – Observable inputs other than quoted prices within Level 1 for similar assets and liabilities. These include quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. If the asset or liability has a specified or contractual term, the input must be observable for substantially the full term of the asset or liability. Level 3 – Unobservable inputs that are supported by little or no market activity, generally requiring a significant amount of judgment by management. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Further, although we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during the fiscal years ended July 31, 2024 or 2023. The carrying values of cash, prepaid expenses and other, accounts payable and accrued wages approximate their fair value due to their short maturities. No changes were made to our valuation techniques during the fiscal year ended July 31, 2024. Financial instruments that are carried at fair value consist of our common stock of Oragenics as follows: Schedule of fair value of financial instruments July 31, 2024 Level 1 Level 2 Level 3 Total Oragenics common stock $ 529,203 $ – $ – $ 529,204 There were no financial instruments carried at fair value at July 31, 2023. Valuation of Oragenics Common Stock Our 511,308 shares of Oragenics common stock were valued at $1.04 on July 31, 2024, as quoted on the NYSE American Stock Exchange. Valuation of Oragenics Series F Preferred Stock Cost was originally determined utilizing the Black-Scholes pricing model inputs of (i) expected volatility of 79.4%, (ii) risk free interest rate of 5.6%, (ii) expected life of six months, and (iv) an implied discount rate of 25% for the known restrictions on the sale and conversion of the Series F preferred stock and the value at December 28, 2023 was $12,955,437. As discussed in Note 2, we determined that our investment in Oragenics Preferred Stock was 100% impaired due to the decline in value of the underlying Oragenics common stock and based on conditions set forth in the Agreement stating 1) the Series F preferred stock converts into common stock on a 1-to-1 basis not exceeding 19.9% of the total outstanding shares of Oragenics’ common stock, 2) the continued listing of the Oragenics common stock on the NYSE American Exchange in order for the Series F to convert into common stock, 3) the Black-Scholes Pricing Model and 4) the limitations under SEC Rule 144, including (i) the number of shares available for sale, (ii) the prescribed holding period of six months, and (iii) affiliates restrictions on sell in excess of the greater of 1% of the total shares outstanding or the average of the previous four-week trading volume. Contingent Liabilities At July 31, 2024 and 2023, we had contingent consideration related to the acquisition of intellectual property, know-how and patents for an anti-choking, life-saving medical device in fiscal 2019. According to the agreement, we will make a one-time cash payment totaling $ 250,000 We also had contingent consideration at July 31, 2024 and 2023 related to milestones in our Asset Purchase Agreement with Prevacus, Inc. The fair value of the contingent consideration is reviewed quarterly and determined based on the current status of the project (Level 3). Based on these reviews, the fair value of the contingent consideration was determined to be zero at both periods as it is not yet probable that any of the remaining milestones will be met. Fixed-Rate Debt We have fixed-rate debt that is reported on our Balance Sheets at carrying value less unamortized debt discount and closing costs. The fair value of our fixed rate debt was calculated using a discounted cash flow methodology with estimated current interest rates based on similar risk profile and duration (Level 2). The carrying value, excluding unamortized debt discount and debt issuance costs, and the fair value of our fixed-rate long-term debt was as follows: Schedule of fair value of fixed-rate long-term debt July 31, 2024 2023 Carrying value $ 1,684,667 $ 2,425,000 Fair value $ 1,684,667 $ 2,425,000 |
Debt
Debt | 12 Months Ended |
Jul. 31, 2024 | |
Debt Disclosure [Abstract] | |
Debt | Note 7. Debt LGH Investments, LLC On September 29, 2022, we entered into Amendment No. 3 to the Convertible Promissory Note to the Securities Purchase Agreement dated April 5, 2021, with LGH Investments, LLC (“LGH”). Pursuant to Amendment No. 3, the maturity date of the note was extended to December 31, 2022 115,000 On November 10, 2022, LGH provided notice to convert $ 300,000 1,500,000 On December 29, 2022, we entered into Amendment No. 4 to the Convertible Promissory Note to the Securities Purchase Agreement dated April 5, 2021, with LGH. Pursuant to the Amendment No. 4, the maturity date of the note was extended to March 31, 2023 35,000 50,000 On March 31, 2023, we entered into Amendment No. 5 to the Convertible Promissory Note to the Securities Purchase Agreement dated April 5, 2021, with LGH. Pursuant to the Amendment No. 5, the maturity date of the note was extended to June 30, 2023 20,000 On July 6, 2023, we entered into Amendment No. 6 to the Convertible Promissory Note to the Securities Purchase Agreement dated April 5, 2021, with LGH. Pursuant to the Amendment No. 6, the maturity date of the note was extended to December 31, 2023 25,000 On August 28, 2023, we paid LGH $ 30,000 50,000 On December 30, 2023, we entered into Amendment No. 7 to the Convertible Promissory Note to the Securities Purchase Agreement dated April 5, 2021, with LGH. Pursuant to the Amendment, the maturity date of the note was extended to June 30, 2024 60,000 On June 30, 2024, we entered into Amendment No. 8 to the Convertible Promissory Note to the Securities Purchase Agreement dated April 5, 2021, with LGH. Pursuant to the Amendment, the maturity date of the note was extended to December 31, 2024. As consideration the note conversion price was changed to $0.072 per common share. Following these amendments and payments, at July 31, 2024, there was $ 1,035,000 173,880 1,055,000 89,781 Tysadco Partners, LLC/ClearThink Capital Partners, LLC On March 14, 2023, we entered into a Second Amendment to the Convertible Promissory Note (the “Second Amendment”) to the Securities Purchase Agreement dated August 29, 2021, with Tysadco Partners, LLC (“Tysadco”). Pursuant to the Second Amendment, the maturity date of the note was extended to December 31, 2023. As consideration, the conversion price was amended to $0.20 per share from $0.30 per share and, upon execution, we converted $ 100,000 500,000 175,000 20,000 On December 20, 2023, ClearThink Capital Partners, LLC (“ClearThink”) exercised their option to convert their convertible note payable of $ 175,000 20,000 975,000 Accredited Investor Promissory Note On February 13, 2024, we entered into a six-month promissory note for $ 50,000 10 30,000 50,000 2,316 Directors and Officers Promissory Notes On December 21, 2021, and December 22, 2021, we entered into a total of five Promissory Notes (the “Promissory Notes”) with three of our directors and two officers. Mr. Joseph Michael Redmond, President and Chief Executive Officer, Ms. Christine M. Farrell, Chief Financial Officer, Mr. Jerome H. Casey, Director, Mr. John P. Gandolfo, Director, and Mr. Ricky W. Richardson, Director, each loaned us $ 25,000 125,000 8 On October 19, 2023, John Gandolfo, former director, exercised his option to convert his convertible note of $ 25,000 3,655 238,792 On November 1, 2023, we entered into four Promissory Note Amendments (the “Amendments”) to the Promissory Notes entered into December 21, 2021, and December 22, 2021 with two directors and two officers to extend the maturity date of the Promissory Notes to January 31, 2024. All other terms and conditions remained the same. On July 31, 2024, we entered into four Promissory Note Amendments (the “Amendments”) to the Promissory Notes entered into December 21, 2021, and December 22, 2021 with two directors and two officers to extend the maturity date of the Promissory Notes to January 31, 2025 At July 31, 2024 and July 31, 2023, we had $ 100,000 125,000 20,865 16,058 Mast Hill Fund L.P. On December 13, 2022, we entered into a Securities Purchase Agreement (the “SPA”) with Mast Hill Fund, L.P. Pursuant to the SPA, we sold Mast Hill (i) an $ 870,000 10 2,000,000 4,000,000 723,868 213,725 13,443 On June 13, 2023, we entered into Amendment No. 1 to the SPA dated December 13, 2022. Pursuant to the Amendment, we (i) increased the principal balance by $ 50,000 920,000 1,000,000 28,448 On March 13, 2024, we entered into Amendment No. 2 to the Securities Purchase Agreement dated December 13, 2022, with Mast Hill. Pursuant to the Amendment, the $ 200,000 December 13, 2024 Mast Hill converted the following amounts of principal, interest and fees to shares of our common stock: Schedule of principal, interest and fees to shares of common stock Date Principal Interest Fees Total Conversion price per share Number of shares of our common stock received June 15, 2023 $ – $ 40,250 $ 1,750 $ 42,000 $0.075 560,000 October 9, 2023 47,653 637 1,750 50,040 0.120 417,000 November 6, 2023 42,710 5,580 1,750 50,040 0.072 695,000 November 9, 2023 43,975 4,315 1,750 50,040 0.072 695,000 December 22, 2023 46,833 1,457 1,750 50,040 0.072 695,000 January 18, 2024 44,266 4,024 1,750 50,040 0.072 695,000 Total $ 225,437 $ 56,263 $ 10,500 $ 292,200 0.078 3,757,000 Payments made to Mast Hill were as follows: Schedule of payments made to Mast Hill Date Principal Interest Total September 13, 2023 $ 100,000 $ 26,382 $ 126,382 October 6, 2023 44,896 5,167 50,063 December 13, 2023 50,000 2,458 52,458 Total $ 194,896 $ 34,007 $ 228,903 On August 7, 2023, Mast Hill converted their outstanding warrant exercisable for 2,000,000 1,610,390 Due to the remaining 5,000,000 Mast Hill warrants containing a down-round provision, which was triggered prior to July 31, 2023, we issued an additional 12,444,445 63,455 On March 14, 2024, Mast Hill converted their outstanding warrant for 2,778,778 1,926,713 14,666,667 Following these repayments and conversions, at July 31, 2024, and July 31, 2023, respectively, there was $ 499,667 920,000 26,694 15,009 14,666,667 7,000,000 Accredited Investors Note Purchase Agreement On July 7, 2023, we received a $ 150,000 500,000 On December 29, 2023, the two accredited investors provided notice to convert their NPA. On January 26, 2024, we converted $ 500,000 28,767 528,767 7,343,989 no Notes Payable Outstanding Schedule of notes payable outstanding July 31, 2024 July 31, 2023 Convertible note issued to LGH due December 31, 2024, with a set interest amount of $84,000 through July 7, 2023, then an interest rate of 8.0% per annum of outstanding principal and convertible at $0.072 per share $ 1,035,000 $ 1,055,000 Promissory notes issued to officers and directors due December 31, 2024, with an interest rate of 8.0% per annum and convertible at $0.12 per share 100,000 125,000 Accredited investor promissory note due August 11, 2024, with an interest rate of 10% per annum and convertible into 30,000 shares of Oragenics common stock held by us. As of the date of this filing, this note remains outstanding. 50,000 – Note purchase agreement issued to two accredited investors due August 15, 2024, with an interest rate of 12% per annum – 150,000 ClearThink convertible promissory note due December 31, 2023, with a set interest amount of $20,000 and convertible at $0.20 per share – 175,000 Mast Hill convertible promissory note due December 13, 2024, with an interest rate of 10% per annum and convertible at $0.072 per share 499,667 920,000 1,684,667 2,425,000 Unamortized debt discount and closing costs (38,134 ) (246,866 ) Unamortized beneficial conversion feature – (33,474 ) $ 1,646,533 $ 2,144,660 See Note 14 for discussion of a $300,000 promissory note entered into in August 2024. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jul. 31, 2024 | |
Equity [Abstract] | |
Stock-Based Compensation | Note 8. Stock-Based Compensation 2021 Omnibus Stock Incentive Plan At our annual stockholder meeting held September 14, 2021, the stockholders approved the Amended and Restated 2021 Omnibus Stock Incentive Plan (the “2021 Plan”). The purpose of the 2021 Plan is to enable us to recruit and retain highly qualified employees, directors and consultants and to provide incentives for productivity and the opportunity to share in our growth and value. Subject to certain adjustments, the maximum number of shares of common stock, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, cash or other stock-based awards that may be issued under the 2021 Plan is 20,000,000 830,000 17,625,000 1,995,000 Stock Options Stock option activity during fiscal 2024 was as follows: Schedule of stock option activity Number of Options Weighted Average Exercise Price Options outstanding at July 31, 2023 11,795,000 $ 0.34 Options granted 10,475,000 0.10 Options canceled (2,800,000 ) (0.57 ) Options expired (250,000 ) (0.30 ) Options forfeited (750,000 ) (0.26 ) Options outstanding at July 31, 2024 18,470,000 0.17 Criteria used for determining the Black-Scholes value of options granted were as follows: Schedule of assumptions Year Ended July 31, 2024 2023 Expected stock price volatility 147 166 140 151 Risk free interest rate 3.84 4.72 2.73 4.25 Expected life of options (years) 5.0 10.0 3.0 10.0 Expected dividend yield – – Restricted Stock Units (“RSUs”) RSU activity during fiscal 2024 was as follows: Schedule of RSU activity Number of RSUs Weighted Average Grant Date Fair Value RSUs outstanding at July 31, 2023 3,055,554 $ 0.28 RSUs vested (3,055,554 ) (0.28 ) RSUs outstanding at July 31, 2024 – – Warrants Warrant activity during fiscal 2024 was as follows: Schedule of warrant activity Number of Warrants Weighted Average Exercise Price Warrants outstanding at July 31, 2023 14,558,607 $ 0.46 Warrants issued 12,444,445 0.07 Warrants exercised (3,537,103 ) 0.07 Warrants cancelled (1,740,675 ) 0.34 Warrants outstanding at July 31, 2024 21,725,274 0.27 Unrecognized Stock-Based Compensation Costs At July 31, 2024, we had total unrecognized stock-based compensation of $ 198,149 0.75 |
Common Stock
Common Stock | 12 Months Ended |
Jul. 31, 2024 | |
Equity [Abstract] | |
Common Stock | Note 9. Common Stock Mast Hill On August 7, 2023, Mast Hill converted their outstanding warrant exercisable for 2,000,000 1,610,390 On March 14, 2024, Mast Hill converted their outstanding warrant for 2,778,778 1,926,713 14,666,667 During fiscal 2024, Mast Hill converted a total of $ 225,437 16,013 8,750 3,197,000 Return of Shares On August 24, 2023, ClearThink voluntarily returned 100,000 Convertible Notes Payable On October 19, 2023, John Gandolfo, former director, exercised his option to convert his convertible note of $ 25,000 3,655 238,792 On December 29, 2023, ClearThink exercised their option to convert their convertible note payable of $ 175,000 20,000 975,000 Accredited Investors Note Purchase Agreement On December 29, 2023, the accredited investors provided notice to convert their notes. On January 26, 2024, we converted a total of $ 500,000 28,767 528,767 7,343,989 Restricted Shares Issued to Consultants In September and October 2022 and March 2023, in connection with entering into consulting agreements, we issued consultants 2,300,000 0.19 433,800 Lincoln Park Capital Fund October 2021 Securities Purchase Agreement On October 22, 2021, we entered into a Securities Purchase Agreement (the “SPA”) with Lincoln Park Capital Fund, LLC (“LPC”) pursuant to which we received $ 250,000 1,500,000 833,333 0.50 August 2020 Securities Purchase Agreement On August 14, 2020, we entered into a Purchase Agreement (the “LPC Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park” or “LPC”). Pursuant to the LPC Purchase Agreement, we had the right, in our sole discretion, to sell to LPC up to $10,250,000 in shares of our common stock, from time to time until the expiration on December 31, 2023. In consideration for entering into the LPC Purchase Agreement, we issued 793,802 Upon entering into the LPC Purchase Agreement, we sold 602,422 250,000 7,982,518 2,656,106 600,000 3,633,591 55,620 580,220 In connection with the LPC transaction, we engaged A.G.P. as a placement agent to help raise capital. A.G.P. introduced us to LPC, for which we paid A.G.P. a fee of 8% of the amount of the funds received from LPC., which totaled $111,468 over the life of the LPC Purchase. In addition, and in consideration for the service provided in connection with Labrys and LPC, we granted warrants that were immediately exercisable for a total of 550,000 0.50 220,000 August 6, 2024 LGH In connection with an amendment to the LGH Note, dated February 1, 2022, we issued LGH 100,000 51,000 Prevacus Option Agreement On November 21, 2022, we entered into an Option to Purchase Intellectual Property Agreement (the “Option Agreement”) with Prevacus, Inc., which expired May 20, 2023. We had the option to purchase and acquire from Prevacus, free and clear of all encumbrances, 100% of Prevacus’ right, title, and interest in the worldwide and USPTO Patents to ONP-001 and one Enantiomer. As consideration, we issued Prevacus 1,000,000 0.17 170,000 2,000,000 1,000,000 Common Stock Issued in Connection with Debt Financings As discussed above in Note 7, we issued the following shares of our common stock in connection with debt financings during fiscal 2024 and 2023: · 1,500,000 300,000 · 213,725 13,443 · 500,000 100,000 · 560,000 40,250 1,750 · 1,610,390 2,000,000 · 238,792 25,000 · 417,000 47,653 5,167 1,750 · 695,000 42,710 5,580 1,750 · 695,000 43,975 4,315 1,750 · 695,000 46,833 1,457 1,750 · 975,000 175,000 20,000 · 7,343,989 500,000 28,767 · 695,000 44,266 4,024 1,750 · 1,926,713 2,778,778 |
Income Taxes
Income Taxes | 12 Months Ended |
Jul. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10. Income Taxes We file income tax returns in the U.S. federal jurisdiction and the various states in which we operate. We registered with the Franchise Tax Board in the State of California in tax year 2020. Our tax returns are not currently under examination for any year. Our deferred tax assets consist of federal net operating loss carryforwards that expire through the year 2036. The deferred tax assets are net of a 100% valuation allowance as it is more likely than not at this time that the deferred tax assets will not be realized within the carryforward period due to substantial uncertainty as to our ability to continue as a going concern (Note 1). The following table reconciles the U.S. federal statutory rate to our effective tax rate: Schedule of effective income tax rate reconciliation For the year ended July 31, 2024 2023 US federal statutory rates 21% 21% Valuation allowance (21% ) (21% ) Effective tax rate 0% 0% Our tax provision (benefit) was as follows: Schedule of components of income tax expense (benefit) For the year ended July 31, 2024 2023 Current deferred $ 97,900 $ 485,300 Increase in valuation allowance (97,900 ) (485,300 ) Total $ – $ – Our net deferred tax asset was as follows: Schedule of net deferred tax assets July 31, 2024 2023 Deferred tax asset $ 2,862,500 $ 2,960,400 Valuation allowance (2,862,500 ) (2,960,400 ) Net deferred tax asset $ – $ – As of July 31, 2024, we had $ 28,831,391 We provide for a valuation allowance when it is more likely than not that they will not realize a portion of the deferred tax assets. We established a valuation allowance against our net deferred tax asset due to the uncertainty that enough taxable income will be generated in those taxing jurisdictions to utilize the assets. Therefore, we have not reflected any benefit from such deferred tax assets in the accompanying financial statements. We reviewed the issuance of stock to certain senior executives who received stock in conjunction with becoming an officer and director. In this case, as an officer and director of a publicly-traded company, the sale of shares could be subject to the short-swing profits rules of Securities Exchange Act Section 16(b) and is subject to a substantial risk of forfeiture per IRC § 83 (c)(3)(A). Given that such stock is subject to a substantial risk of forfeiture, such stock is treated as nonvested stock under IRC § 83. As the stock received was nonvested stock, income inclusion is deferred until the year in which the stock vests unless the employee makes an affirmative election to include income in the year of receipt. We reviewed all income tax positions taken or that are expected to be taken for all open years and determined that our income tax positions are appropriately stated and supported for all open years. We are subject to U.S. federal income tax examinations by tax authorities for years after 2024 due to unexpired net operating loss carryforwards originating in and subsequent to that year. We may be subject to income tax examinations for the various taxing authorities which vary by jurisdiction. Our policy is to record interest and penalties associated with unrecognized tax benefits as additional income taxes in the statements of operations. As of July 31, 2024, there were no |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jul. 31, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 11. Related Party Transactions Due to Officers The following amounts were due to our officers for reimbursement of expenses and were included in Accounts payable on our Consolidated Balance Sheets: Schedule of related party payables July 31, 2024 2023 Joseph M. Redmond, CEO $ 12,313 $ 668 Christine Farrell, CFO 2,836 1,633 $ 15,149 $ 2,301 The amount of unpaid salary and bonus due to our officers was included in Accrued wages on our Consolidated Balance Sheets and was as follows: Schedule of accrued wages July 31, 2024 2023 Joseph M. Redmond, CEO $ 1,138,400 $ 935,831 Christine Farrell, CFO 370,309 257,771 $ 1,508,710 $ 1,193,602 See Note 7 for a discussion of $ 25,000 |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Jul. 31, 2024 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Note 12. Net Loss Per Share The following securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive: Schedule of anti-dilutive securities Fiscal Year Ended July 31, 2024 2023 Options to purchase common stock 18,470,000 11,795,000 Equivalent shares of convertible notes into common stock – 25,547,822 Warrants to purchase common stock 7,558,607 14,558,607 Unvested restricted stock units – 3,055,554 Total potentially dilutive securities 26,028,607 54,956,983 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jul. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 13. Commitments and Contingencies We were a party to a lawsuit in Superior Court, Kent County in the State of Rhode Island entitled Robert Hainey v. Vdex Diabetes Holdings, Inc. et. al, Case No. KC-2023-0952. 20,000 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jul. 31, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 14. Subsequent Events Promissory Note On August 14, 2024, we entered into a $300,000 promissory note (the “Note”) with an accredited investor. The $300,000 was received on August 22, 2024. The Note has a one-year maturity, becoming due on August 22, 2025, and bears interest at the rate of 18% per annum. In addition, we issued the investor a warrant to purchase 300,000 shares of our common stock at $0.10 per share that expires August 14, 2029. Accredited Investor Note Amendment In August 2024, we amended our six-month $50,000 promissory note with Jonathan Lutz to extended the maturity date to February 13, 2025. See Note 7. Mast Hill On October 29, 2024, we entered into Amendment No. 3 to the Securities Purchase Agreement dated December 13, 2022, with Mast Hill. Pursuant to the Amendment, the $200,000 amortization payment due September 13, 2024, was extended to March 13, 2025, and the maturity date was extended to June 13, 2025. As consideration, we entered into a Pledge Agreement, pledging one million (1,000,000) shares of Oragenics’ stock held by us as collateral, until the note is paid. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jul. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of consolidation | Basis of consolidation The consolidated financial statements include the accounts of Odyssey Health, Inc. and our wholly-owned subsidiary Odyssey Group International Australia, Pty Ltd (collectively, the “Company”). All intercompany balances and transactions have been eliminated. |
Use of estimates | Use of estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) generally requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. |
Basis of accounting | Basis of accounting We measure all of our assets and liabilities on the historical cost basis of accounting unless otherwise required by GAAP. |
Research and development rebate due from the Australian government | Research and development rebate due from the Australian government We receive a 43.5% rebate at the end of each fiscal year from the Australian government on all research and development performed in Australia. We recorded the rebate as expenses were incurred as an offset to research and development as follows: Schedule of research and development offset Fiscal year ended July 31, 2024 2023 Research and development expense offset $ 53,578 $ 261,238 |
Prepaid expenses and other current assets | Prepaid expenses and other current assets Prepaid expenses and other current assets consist of loans and advances receivable and prepaid insurance. At July 31, 2024 we reserved $ 27,833 |
Intangible assets, net | Intangible assets, net Intangible assets consisted of costs related to a patent for our concussion drug device combination. Amortization expense was as follows: Schedule of amortization expense Fiscal year ended July 31, 2024 2023 Amortization expense $ 1,538 $ 3,416 All intangible assets were sold in the second quarter of fiscal 2024. See Note 4. |
Investment | Investment Investment consists of 511,308 We also hold 7,488,692 The Preferred Stock was discounted based on conditions set forth in the Agreement stating 1) the Series F preferred stock converts into common stock on a 1-to-1 basis not exceeding 19.9% of the total outstanding shares of Oragenics’ common stock, 2) the continued listing of the Oragenics common stock on the NYSE American Exchange in order for the Series F to convert into common stock, 3) the Black-Scholes Pricing Model and 4) the limitations under SEC Rule 144, including (i) the number of shares available for sale, (ii) the prescribed holding period of six months, and (iii) affiliates restrictions on sell in excess of the greater of 1% of the total shares outstanding or the average of the previous four-week trading volume. Cost was originally determined utilizing the Black-Scholes pricing model inputs of (i) expected volatility of 79.4%, (ii) risk free interest rate of 5.6%, (ii) expected life of six months, and (iv) an implied discount rate of 25% for the known restrictions on the sale and conversion of the Series F preferred stock and the value at December 28, 2023 was $ 12,955,437 Due to the decrease in the value of underlying Oragenics common stock and based on conditions set forth in the Agreement above, we revalued the Series F preferred stock at July 31, 2024 and recorded a 100% impairment totaling $ 12,955,437 See Notes 4 and 6 for additional information regarding Oragenics. |
Beneficial conversion feature of convertible notes payable | Beneficial conversion feature of convertible notes payable The beneficial conversion feature (“BCF”) of a convertible note (Note 7) is normally characterized as the convertible portion or feature of certain notes payable that provide a rate of conversion that is below market value or in-the-money when issued. We record a BCF related to the issuance of a convertible note when issued. Beneficial conversion features that are contingent upon the occurrence of a future event are recorded upon the occurrence of the event. The BCF of a convertible note is a reduction of the carrying amount of the convertible note equal to the intrinsic value of the conversion feature, both of which are credited to additional paid-in-capital and such discount is amortized over the expected term of the convertible note (or to the conversion date of the note, if sooner) and is charged to interest expense. |
Loss per share | Loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the year. Diluted net loss per share is computed giving effect to all potentially dilutive common stock and common stock equivalents, including stock options, convertible notes, RSUs and warrants. Basic and diluted net loss per share were the same for all years presented as we were in a loss position for all periods. See Note 12. |
Stock-based compensation | Stock-based compensation We recognize stock-based compensation expense in accordance with ASC 718 for all restricted stock and stock option awards made to employees, directors and independent contractors. The fair value of stock option awards (Note 8) is estimated at the grant date using the Black-Scholes option-pricing model, and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period. We have elected to recognize compensation expense for all options with graded vesting on a straight-line basis over the vesting period of the entire option. The determination of fair value using the Black-Scholes pricing model is affected by our stock price, as well as by assumptions regarding a number of complex and subjective variables, including expected stock price volatility, risk free interest rate, expected dividends and projected stock option exercise behaviors. We estimate volatility based on historical volatility of our common stock, and estimate the expected term based on several criteria, including the vesting period of the grant and the term of the award. We estimate stock option exercise behavior based on assumptions regarding future exercise activity of unexercised, outstanding options. The fair value of stock awards is determined based on the fair value of our common stock on the date of grant. |
Fair value measurements | Fair value measurements The carrying values of cash, prepaid expenses and other current assets, accounts payable and accrued wages approximate their estimated fair values because of the short-term nature of these instruments. See Note 6. |
In-process research and development | In-process research and development Our in-process research and development costs are expensed when incurred in accordance with with ASC 730-10-25-2(c) Topic 730 Research and Development. Pursuant to ASC 730-10-25-2(c), intangibles purchased from others for use in particular research and development projects and that have no alternative future use, in research and development or otherwise, represent costs of research and development as acquired, and therefore are expensed when incurred. In-process research and development relates to the value of 1,000,000 0.17 |
Research and development | Research and development Research and development costs are expensed in the period when incurred. |
Income taxes | Income taxes Income taxes are accounted for based upon an asset and liability approach. Accordingly, deferred tax assets and liabilities arise from the difference between the tax basis of an asset or liability and its reported amount in the financial statements. Deferred tax amounts are determined using the tax rates expected to be in effect when the taxes will actually be paid or refunds received, as provided under currently enacted tax law. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense or benefit is the tax payable or refundable, respectively, for the period plus or minus the change in deferred tax assets and liabilities during the period. Accounting guidance requires the recognition of a financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant tax authority. We believe our income tax filing positions and deductions will be sustained upon examination and, accordingly, no reserves or related accruals for interest and penalties have been recorded at July 31, 2024 or 2023. We recognize interest and penalties on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Accounting Policies [Abstract] | |
Schedule of research and development offset | Schedule of research and development offset Fiscal year ended July 31, 2024 2023 Research and development expense offset $ 53,578 $ 261,238 |
Schedule of amortization expense | Schedule of amortization expense Fiscal year ended July 31, 2024 2023 Amortization expense $ 1,538 $ 3,416 |
Fair Value, Commitments and C_2
Fair Value, Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Schedule of fair value of financial instruments | Schedule of fair value of financial instruments July 31, 2024 Level 1 Level 2 Level 3 Total Oragenics common stock $ 529,203 $ – $ – $ 529,204 |
Schedule of fair value of fixed-rate long-term debt | Schedule of fair value of fixed-rate long-term debt July 31, 2024 2023 Carrying value $ 1,684,667 $ 2,425,000 Fair value $ 1,684,667 $ 2,425,000 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of principal, interest and fees to shares of common stock | Schedule of principal, interest and fees to shares of common stock Date Principal Interest Fees Total Conversion price per share Number of shares of our common stock received June 15, 2023 $ – $ 40,250 $ 1,750 $ 42,000 $0.075 560,000 October 9, 2023 47,653 637 1,750 50,040 0.120 417,000 November 6, 2023 42,710 5,580 1,750 50,040 0.072 695,000 November 9, 2023 43,975 4,315 1,750 50,040 0.072 695,000 December 22, 2023 46,833 1,457 1,750 50,040 0.072 695,000 January 18, 2024 44,266 4,024 1,750 50,040 0.072 695,000 Total $ 225,437 $ 56,263 $ 10,500 $ 292,200 0.078 3,757,000 |
Schedule of payments made to Mast Hill | Schedule of payments made to Mast Hill Date Principal Interest Total September 13, 2023 $ 100,000 $ 26,382 $ 126,382 October 6, 2023 44,896 5,167 50,063 December 13, 2023 50,000 2,458 52,458 Total $ 194,896 $ 34,007 $ 228,903 |
Schedule of notes payable outstanding | Schedule of notes payable outstanding July 31, 2024 July 31, 2023 Convertible note issued to LGH due December 31, 2024, with a set interest amount of $84,000 through July 7, 2023, then an interest rate of 8.0% per annum of outstanding principal and convertible at $0.072 per share $ 1,035,000 $ 1,055,000 Promissory notes issued to officers and directors due December 31, 2024, with an interest rate of 8.0% per annum and convertible at $0.12 per share 100,000 125,000 Accredited investor promissory note due August 11, 2024, with an interest rate of 10% per annum and convertible into 30,000 shares of Oragenics common stock held by us. As of the date of this filing, this note remains outstanding. 50,000 – Note purchase agreement issued to two accredited investors due August 15, 2024, with an interest rate of 12% per annum – 150,000 ClearThink convertible promissory note due December 31, 2023, with a set interest amount of $20,000 and convertible at $0.20 per share – 175,000 Mast Hill convertible promissory note due December 13, 2024, with an interest rate of 10% per annum and convertible at $0.072 per share 499,667 920,000 1,684,667 2,425,000 Unamortized debt discount and closing costs (38,134 ) (246,866 ) Unamortized beneficial conversion feature – (33,474 ) $ 1,646,533 $ 2,144,660 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Equity [Abstract] | |
Schedule of stock option activity | Schedule of stock option activity Number of Options Weighted Average Exercise Price Options outstanding at July 31, 2023 11,795,000 $ 0.34 Options granted 10,475,000 0.10 Options canceled (2,800,000 ) (0.57 ) Options expired (250,000 ) (0.30 ) Options forfeited (750,000 ) (0.26 ) Options outstanding at July 31, 2024 18,470,000 0.17 |
Schedule of assumptions | Schedule of assumptions Year Ended July 31, 2024 2023 Expected stock price volatility 147 166 140 151 Risk free interest rate 3.84 4.72 2.73 4.25 Expected life of options (years) 5.0 10.0 3.0 10.0 Expected dividend yield – – |
Schedule of RSU activity | Schedule of RSU activity Number of RSUs Weighted Average Grant Date Fair Value RSUs outstanding at July 31, 2023 3,055,554 $ 0.28 RSUs vested (3,055,554 ) (0.28 ) RSUs outstanding at July 31, 2024 – – |
Schedule of warrant activity | Schedule of warrant activity Number of Warrants Weighted Average Exercise Price Warrants outstanding at July 31, 2023 14,558,607 $ 0.46 Warrants issued 12,444,445 0.07 Warrants exercised (3,537,103 ) 0.07 Warrants cancelled (1,740,675 ) 0.34 Warrants outstanding at July 31, 2024 21,725,274 0.27 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
Schedule of effective income tax rate reconciliation | Schedule of effective income tax rate reconciliation For the year ended July 31, 2024 2023 US federal statutory rates 21% 21% Valuation allowance (21% ) (21% ) Effective tax rate 0% 0% |
Schedule of components of income tax expense (benefit) | Schedule of components of income tax expense (benefit) For the year ended July 31, 2024 2023 Current deferred $ 97,900 $ 485,300 Increase in valuation allowance (97,900 ) (485,300 ) Total $ – $ – |
Schedule of net deferred tax assets | Schedule of net deferred tax assets July 31, 2024 2023 Deferred tax asset $ 2,862,500 $ 2,960,400 Valuation allowance (2,862,500 ) (2,960,400 ) Net deferred tax asset $ – $ – |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Related Party Transactions [Abstract] | |
Schedule of related party payables | Schedule of related party payables July 31, 2024 2023 Joseph M. Redmond, CEO $ 12,313 $ 668 Christine Farrell, CFO 2,836 1,633 $ 15,149 $ 2,301 |
Schedule of accrued wages | Schedule of accrued wages July 31, 2024 2023 Joseph M. Redmond, CEO $ 1,138,400 $ 935,831 Christine Farrell, CFO 370,309 257,771 $ 1,508,710 $ 1,193,602 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Jul. 31, 2024 | |
Earnings Per Share [Abstract] | |
Schedule of anti-dilutive securities | Schedule of anti-dilutive securities Fiscal Year Ended July 31, 2024 2023 Options to purchase common stock 18,470,000 11,795,000 Equivalent shares of convertible notes into common stock – 25,547,822 Warrants to purchase common stock 7,558,607 14,558,607 Unvested restricted stock units – 3,055,554 Total potentially dilutive securities 26,028,607 54,956,983 |
Nature of Operations and Goin_2
Nature of Operations and Going Concern (Details Narrative) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retained Earnings (Accumulated Deficit) | $ 61,003,146 | $ 60,097,375 |
Liabilities, Current | 5,919,895 | 6,611,722 |
Assets, Current | 56,943 | $ 405,888 |
Working capital deficit | $ 5,862,952 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details - Research and development) - USD ($) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Accounting Policies [Abstract] | ||
Research and development expense offset | $ 53,578 | $ 261,238 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details - Amortization expense) - USD ($) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Accounting Policies [Abstract] | ||
Amortization expense | $ 1,538 | $ 3,416 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Nov. 30, 2022 | Jul. 31, 2024 | Jul. 31, 2023 | Dec. 28, 2023 | |
Prepaid Expense and Other Assets, Current | $ 31,939 | $ 92,457 | ||
Preferred stock value | 0 | 0 | ||
Impairment of investment | 12,955,437 | $ 0 | ||
Prevacus Option Agreement [Member] | ||||
Stock Issued During Period, Shares, Purchase of Assets | 1,000,000 | |||
Shares Issued, Price Per Share | $ 0.17 | |||
Oragenics Convertible Series F Preferred Stock [Member] | ||||
Impairment of investment | $ 12,955,437 | |||
Series F Preferred Stock [Member] | ||||
Preferred stock value | $ 12,955,437 | |||
Oragenics [Member] | Oragenics Convertible Series F Stock [Member] | ||||
Investment Owned, Balance, Shares | 511,308 | |||
Oragenics [Member] | Oragenics Convertible Series F Preferred Stock [Member] | ||||
Investment Owned, Balance, Shares | 7,488,692 | |||
Loans And Advances Receivable [Member] | ||||
Prepaid Expense and Other Assets, Current | $ 27,833 |
Asset Sale Agreement with Ora_2
Asset Sale Agreement with Oragenics, Inc. (Details Narrative) - USD ($) | 12 Months Ended | ||||
Dec. 28, 2023 | Dec. 11, 2023 | Oct. 04, 2023 | Jul. 31, 2024 | Jul. 31, 2023 | |
Gain on sale of assets | $ 16,400,687 | $ 0 | |||
Oragenics Asset Purchase Agreement [Member] | |||||
Fair value of assets received | $ 48,367 | ||||
Proceeds diverstiture of business | 1,000,000 | ||||
Assumption of accounts receivable for asset sale | 16,449,054 | ||||
Gain on sale of assets | $ 16,400,687 | ||||
Oragenics Asset Purchase Agreement [Member] | Mast Hill Fund LP [Member] | |||||
Security interest, shares | 154,545 | ||||
Oragenics Asset Purchase Agreement [Member] | Tranche 1 [Member] | |||||
Proceeds diverstiture of business | $ 500,000 | ||||
Oragenics Asset Purchase Agreement [Member] | Tranche 2 [Member] | |||||
Proceeds diverstiture of business | $ 500,000 | ||||
Oragenics Asset Purchase Agreement [Member] | Oragenics Convertible Series F Preferred Stock [Member] | |||||
Stock received for acquisition | 8,000,000 | ||||
Equity received on sale | 325,672 | ||||
Oragenics Asset Purchase Agreement [Member] | Oragenics Preferred Stock [Member] | |||||
Preferred stock shares received | 8,000,000 | ||||
Conversion of stock, shares converted | 511,308 | ||||
Oragenics Asset Purchase Agreement [Member] | Oragenics Restricted Common Stock [Member] | |||||
Conversion of stock, shares issued | 511,308 |
Asset Purchase Agreement and _2
Asset Purchase Agreement and Asset Purchase Liability (Details Narrative) - USD ($) | 1 Months Ended | ||||
Mar. 02, 2021 | Jan. 07, 2021 | Mar. 31, 2022 | Jul. 31, 2024 | Jul. 31, 2023 | |
Asset Acquisition [Line Items] | |||||
Asset purchase liability | $ 1,125,026 | $ 1,125,026 | |||
Prevacus Asset Purchase Agreement [Member] | |||||
Asset Acquisition [Line Items] | |||||
Asset purchase liability | $ 1,125,026 | $ 1,125,026 | |||
Prevacus [Member] | |||||
Asset Acquisition [Line Items] | |||||
Stock issued for assets, shares | 1,000,000 | ||||
Stock issued for assets, value | $ 1,180,000 | ||||
Prevacus [Member] | Asset Purchase Agreement [Member] | |||||
Asset Acquisition [Line Items] | |||||
Stock issued for assets, shares | 7,000,000 | ||||
Prevacus [Member] | Tranche 1 [Member] | |||||
Asset Acquisition [Line Items] | |||||
Stock issued for assets, shares | 6,000,000 | ||||
Stock issued for assets, value | $ 7,080,000 |
Fair Value, Commitments and C_3
Fair Value, Commitments and Contingent Liabilities (Details - Financial instruments carried at fair value) - Oragenics Common Stock [Member] | Jul. 31, 2024 USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity method investment | $ 529,204 |
Fair Value, Inputs, Level 1 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity method investment | 529,203 |
Fair Value, Inputs, Level 2 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity method investment | 0 |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity method investment | $ 0 |
Fair Value, Commitments and C_4
Fair Value, Commitments and Contingent Liabilities (Details - Fixed-rate debt) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Fair Value Disclosures [Abstract] | ||
Carrying value | $ 1,684,667 | $ 2,425,000 |
Fair value | $ 1,684,667 | $ 2,425,000 |
Fair Value, Commitments and C_5
Fair Value, Commitments and Contingent Liabilities (Details Narrative) | Jul. 31, 2024 USD ($) |
Intellectual Property Related To Medical Device [Member] | |
Research and Development Asset Acquired in Transaction Other than Business Combination or Joint Venture Formation [Line Items] | |
Contingent consideration | $ 250,000 |
Debt (Details - Mast Hill)
Debt (Details - Mast Hill) - Mast Hill Fund LP [Member] - Common Stock [Member] - USD ($) | 12 Months Ended | ||||||
Jan. 18, 2024 | Dec. 22, 2023 | Nov. 09, 2023 | Nov. 06, 2023 | Oct. 09, 2023 | Jun. 15, 2023 | Jul. 31, 2024 | |
Principal | $ 44,266 | $ 46,833 | $ 43,975 | $ 42,710 | $ 47,653 | $ 0 | $ 225,437 |
Interest | 4,024 | 1,457 | 4,315 | 5,580 | 637 | 40,250 | 56,263 |
Fees | 1,750 | 1,750 | 1,750 | 1,750 | 1,750 | 1,750 | 10,500 |
Interest | $ 50,040 | $ 50,040 | $ 50,040 | $ 50,040 | $ 50,040 | $ 42,000 | $ 292,200 |
Conversion price per share | $ 0.072 | $ 0.072 | $ 0.072 | $ 0.072 | $ 0.120 | $ 0.075 | $ 0.078 |
Number of shares of our common stock received | 695,000 | 695,000 | 695,000 | 695,000 | 417,000 | 560,000 | 3,757,000 |
Debt (Details - Debt payment ma
Debt (Details - Debt payment made to Mast Hill) - Mast Hill Fund LP [Member] - USD ($) | 12 Months Ended | |||
Dec. 13, 2023 | Oct. 06, 2023 | Sep. 13, 2023 | Jul. 31, 2024 | |
Principal | $ 50,000 | $ 44,896 | $ 100,000 | $ 194,896 |
Interest | 2,458 | 5,167 | 26,382 | 34,007 |
Total | $ 52,458 | $ 50,063 | $ 126,382 | $ 228,903 |
Debt (Details - Notes payable o
Debt (Details - Notes payable outstanding) - USD ($) | Jul. 31, 2024 | Feb. 13, 2024 | Jul. 31, 2023 |
Debt Instrument [Line Items] | |||
Notes payable | $ 1,684,667 | $ 2,425,000 | |
Unamortized debt discount and closing costs | (38,134) | (246,866) | |
Unamortized beneficial conversion feature | 0 | (33,474) | |
Notes payable current | 1,646,533 | 2,144,660 | |
Accredited Investor [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | 50,000 | $ 50,000 | |
Convertible Notes [Member] | LGH Investments LLC [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | 1,035,000 | 1,055,000 | |
Promissory Notes [Member] | Mast Hill Fund LP [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | 499,667 | 920,000 | |
Promissory Notes [Member] | Officers And Directors [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | 100,000 | 125,000 | |
Promissory Notes [Member] | Accredited Investor [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | 50,000 | 0 | |
Promissory Notes [Member] | Clear Think [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | 0 | 175,000 | |
Notes Purchase Agreement [Member] | Two Accredited Investor [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable | $ 0 | $ 150,000 |
Debt (Details Narrative)
Debt (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Mar. 14, 2024 | Jan. 26, 2024 | Jan. 18, 2024 | Dec. 31, 2023 | Dec. 29, 2023 | Dec. 22, 2023 | Dec. 20, 2023 | Dec. 15, 2023 | Dec. 13, 2023 | Nov. 09, 2023 | Nov. 06, 2023 | Oct. 19, 2023 | Oct. 09, 2023 | Oct. 06, 2023 | Sep. 13, 2023 | Aug. 28, 2023 | Aug. 07, 2023 | Jul. 07, 2023 | Jul. 06, 2023 | Jun. 15, 2023 | Jun. 13, 2023 | Mar. 31, 2023 | Mar. 14, 2023 | Dec. 29, 2022 | Dec. 13, 2022 | Nov. 10, 2022 | Sep. 29, 2022 | Jun. 30, 2024 | Jul. 31, 2024 | Jul. 31, 2023 | Feb. 13, 2024 | Jan. 31, 2024 | |
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Repayment of note payable | $ 274,896 | $ 35,000 | ||||||||||||||||||||||||||||||
Notes payable | 1,684,667 | 2,425,000 | ||||||||||||||||||||||||||||||
Accrued interest | 223,754 | 142,032 | ||||||||||||||||||||||||||||||
Proceeds from note payable | 400,000 | 903,868 | ||||||||||||||||||||||||||||||
Accredited Investors Note Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 500,000 | |||||||||||||||||||||||||||||||
Conversion of debt, shares issued | 7,343,989 | |||||||||||||||||||||||||||||||
Notes payable | 0 | |||||||||||||||||||||||||||||||
[custom:DebtConversionConvertedInterest1] | $ 28,767 | |||||||||||||||||||||||||||||||
Repayments of Long-Term Debt | $ 528,767 | |||||||||||||||||||||||||||||||
Mast Hill Fund LP [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Accrued interest | 26,694 | 15,009 | ||||||||||||||||||||||||||||||
Warrants issued | 12,444,445 | |||||||||||||||||||||||||||||||
Debt outstanding, balance | $ 499,667 | $ 920,000 | ||||||||||||||||||||||||||||||
Warrants issued, value | $ 63,455 | |||||||||||||||||||||||||||||||
Warrants exercisable | 14,666,667 | 7,000,000 | ||||||||||||||||||||||||||||||
Repayments of Long-Term Debt | $ 52,458 | $ 50,063 | $ 126,382 | $ 228,903 | ||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund LP [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Interest rate per annum | 10% | |||||||||||||||||||||||||||||||
Debt face amount | $ 870,000 | |||||||||||||||||||||||||||||||
Proceeds from note payable | $ 723,868 | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund LP [Member] | Carter Terry And Company [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued, shares | 213,725 | |||||||||||||||||||||||||||||||
Number of shares issued, value | $ 13,443 | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund LP [Member] | Amendment No 1 [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Warrants issued | 1,000,000 | |||||||||||||||||||||||||||||||
Increase in debt | $ 50,000 | |||||||||||||||||||||||||||||||
Debt outstanding, balance | 920,000 | |||||||||||||||||||||||||||||||
Warrants issued, value | $ 28,448 | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund LP [Member] | Amendment No 2 [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Maturity date | Dec. 13, 2024 | |||||||||||||||||||||||||||||||
Amortization payment | $ 200,000 | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund LP [Member] | Purchase Warrant [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Warrants issued | 2,000,000 | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund LP [Member] | Default Warrants [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Warrants issued | 4,000,000 | |||||||||||||||||||||||||||||||
John Gandolfo [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Conversion of debt, shares issued | 238,792 | |||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 25,000 | |||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 3,655 | |||||||||||||||||||||||||||||||
Accredited Investor [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 500,000 | |||||||||||||||||||||||||||||||
Conversion of debt, shares issued | 7,343,989 | |||||||||||||||||||||||||||||||
Debt face amount | $ 28,767 | |||||||||||||||||||||||||||||||
Proceeds from Related Party Debt | $ 150,000 | |||||||||||||||||||||||||||||||
The Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Proceeds from debt | $ 125,000 | |||||||||||||||||||||||||||||||
Interest rate per annum | 8% | |||||||||||||||||||||||||||||||
Directors And Officers Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Maturity date | Jan. 31, 2025 | |||||||||||||||||||||||||||||||
Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Notes payable | $ 100,000 | $ 125,000 | ||||||||||||||||||||||||||||||
Accrued interest | 20,865 | 16,058 | ||||||||||||||||||||||||||||||
Warrants [Member] | Mast Hill Fund LP [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Warrants converted | 2,778,778 | 2,000,000 | ||||||||||||||||||||||||||||||
Warrants issued | 1,926,713 | 1,610,390 | ||||||||||||||||||||||||||||||
Warrants exercisable | 14,666,667 | |||||||||||||||||||||||||||||||
Common Stock [Member] | Mast Hill Fund LP [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 50,040 | $ 50,040 | $ 50,040 | $ 50,040 | $ 50,040 | $ 42,000 | $ 292,200 | |||||||||||||||||||||||||
Conversion of debt, shares issued | 695,000 | 695,000 | 695,000 | 695,000 | 417,000 | 560,000 | 3,757,000 | |||||||||||||||||||||||||
Debt converted, amount converted | $ 44,266 | $ 46,833 | $ 43,975 | $ 42,710 | $ 47,653 | $ 0 | $ 225,437 | |||||||||||||||||||||||||
Warrants issued | 1,926,713 | 1,610,390 | 3,197,000 | |||||||||||||||||||||||||||||
[custom:DebtConversionConvertedInterest1] | $ 4,024 | $ 1,457 | $ 4,315 | $ 5,580 | $ 637 | $ 40,250 | $ 56,263 | |||||||||||||||||||||||||
LGH Investments LLC [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 300,000 | |||||||||||||||||||||||||||||||
Conversion of debt, shares issued | 1,500,000 | |||||||||||||||||||||||||||||||
Clear Think [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Conversion of debt, shares issued | 975,000 | |||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 175,000 | |||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 20,000 | |||||||||||||||||||||||||||||||
Accredited Investor [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Accrued interest | 2,316 | |||||||||||||||||||||||||||||||
Notes payable | 50,000 | $ 50,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | |||||||||||||||||||||||||||||||
Accredited Investor [Member] | Oragenics Common Stock [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued, shares | 30,000 | |||||||||||||||||||||||||||||||
Mr Joseph Michael Redmond [Member] | The Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Loans payable | 25,000 | |||||||||||||||||||||||||||||||
Ms Christine M Farrell [Member] | The Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Loans payable | 25,000 | |||||||||||||||||||||||||||||||
Mr Jerome H Casey [Member] | The Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Loans payable | 25,000 | |||||||||||||||||||||||||||||||
Mr John P Gandolfo [Member] | The Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Loans payable | 25,000 | |||||||||||||||||||||||||||||||
Mr Ricky W Richardson [Member] | The Promissory Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Loans payable | 25,000 | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Tysadco Partners L L C [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 100,000 | |||||||||||||||||||||||||||||||
Conversion of debt, shares issued | 500,000 | |||||||||||||||||||||||||||||||
Convertible note payable | 175,000 | |||||||||||||||||||||||||||||||
Accrued interest | 20,000 | |||||||||||||||||||||||||||||||
Note Purchase Agreement [Member] | Accredited Investor [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||||||||||||||||||||||||
Convertible Promissory Note [Member] | Securities Purchase Agreement [Member] | LGH Investments LLC [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||
Maturity date | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |||||||||||||||||||||||||||
Increase in debt | $ 60,000 | $ 25,000 | $ 20,000 | $ 50,000 | $ 115,000 | |||||||||||||||||||||||||||
Repayment of note payable | $ 50,000 | $ 30,000 | $ 35,000 | |||||||||||||||||||||||||||||
Convertible note payable | 1,035,000 | 1,055,000 | ||||||||||||||||||||||||||||||
Accrued interest | $ 173,880 | $ 89,781 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details - Stock Option Activity) | 12 Months Ended |
Jul. 31, 2024 $ / shares shares | |
Equity [Abstract] | |
Options outstanding at beginning | shares | 11,795,000 |
Options outstanding, weighted average exercise price | $ 0.34 |
Options granted | 10,475,000 |
Options granted, weighted average exercise price | $ 0.10 |
Options canceled | shares | (2,800,000) |
Options canceled, weighted average exercise price | $ (0.57) |
Options expired | shares | (250,000) |
Options expired, weighted average exercise price | $ (0.30) |
Options forfeited | shares | (750,000) |
Options forfeited, weighted average exercise price | $ (0.26) |
Options outstanding at end | shares | 18,470,000 |
Options outstanding, weighted average exercise price | $ 0.17 |
Stock-Based Compensation (Det_2
Stock-Based Compensation (Details - Assumptions) - Equity Option [Member] | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expected dividend yield | 0% | 0% |
Minimum [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expected stock price volatility | 147% | 140% |
Risk free interest rate | 3.84% | 2.73% |
Expected life of options (years) | 5 years | 3 years |
Maximum [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expected stock price volatility | 166% | 151% |
Risk free interest rate | 4.72% | 4.25% |
Expected life of options (years) | 10 years | 10 years |
Stock-Based Compensation (Det_3
Stock-Based Compensation (Details - RSU Activity) - Restricted Stock Units (RSUs) [Member] | 12 Months Ended |
Jul. 31, 2024 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
RSUs outstanding, beginning balance | shares | 3,055,554 |
Weighted average exercise price restricted stock units at beginning | $ / shares | $ 0.28 |
RSUs vested | shares | (3,055,554) |
Weighted average exercise price restricted stock units vested | $ / shares | $ (0.28) |
RSUs outstanding, ending balance | shares | 0 |
Weighted average exercise price restricted stock units at ending | $ / shares | $ 0 |
Stock-Based Compensation (Det_4
Stock-Based Compensation (Details - Warrant Activity) - Warrant [Member] | 12 Months Ended |
Jul. 31, 2024 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Number of warrants outstanding at beginning | shares | 14,558,607 |
Weighted average exercise price at beginning | $ / shares | $ 0.46 |
Number of warrants issued | shares | 12,444,445 |
Weighted average exercise price, warrants issued | $ / shares | $ 0.07 |
Number of warrants exercised | shares | (3,537,103) |
Weighted average exercise price, warrants exercised | $ / shares | $ 0.07 |
Number of warrants cancelled | shares | (1,740,675) |
Weighted average exercise price, warrants cancelled | $ / shares | $ 0.34 |
Number of warrants outstanding at ending | shares | 21,725,274 |
Weighted average exercise price at ending | $ / shares | $ 0.27 |
Stock-Based Compensation (Det_5
Stock-Based Compensation (Details Narrative) - USD ($) | 12 Months Ended | ||
Jul. 31, 2024 | Jul. 31, 2023 | Sep. 14, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Shares outstanding | 18,470,000 | 11,795,000 | |
Unrecognized stock-based compensation | $ 198,149 | ||
Weighted average remaining vesting period | 9 months | ||
2021 Plan [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Shares authorized for issuance | 20,000,000 | ||
Shares remaining under plan | 830,000 | ||
Shares reserved for issuance under plan | 17,625,000 | ||
Outside The Plan [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Shares outstanding | 1,995,000 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Mar. 14, 2024 | Jan. 26, 2024 | Jan. 18, 2024 | Dec. 29, 2023 | Dec. 22, 2023 | Dec. 20, 2023 | Dec. 13, 2023 | Nov. 29, 2023 | Nov. 09, 2023 | Nov. 06, 2023 | Oct. 29, 2023 | Oct. 19, 2023 | Oct. 09, 2023 | Oct. 06, 2023 | Sep. 13, 2023 | Aug. 24, 2023 | Aug. 07, 2023 | Jun. 15, 2023 | Mar. 14, 2023 | Dec. 13, 2022 | Nov. 21, 2022 | Nov. 10, 2022 | Feb. 02, 2022 | Oct. 22, 2021 | Aug. 14, 2020 | Mar. 31, 2023 | Oct. 31, 2022 | Sep. 30, 2022 | Jul. 31, 2024 | Jul. 31, 2023 | Jan. 31, 2024 | |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
General and administrative expenses | $ 1,506,641 | $ 2,122,375 | |||||||||||||||||||||||||||||
Issuance of shares value | $ 55,620 | $ 580,220 | |||||||||||||||||||||||||||||
Lincoln Park Capital Fund [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 600,000 | 3,633,591 | |||||||||||||||||||||||||||||
Proceeds from sale of stock | $ 55,620 | $ 580,220 | |||||||||||||||||||||||||||||
Lincoln Park Capital Fund [Member] | Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 793,802 | ||||||||||||||||||||||||||||||
Proceeds from sale of stock | $ 250,000 | ||||||||||||||||||||||||||||||
Lincoln Park Capital Fund [Member] | Initial Purchase [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 602,422 | ||||||||||||||||||||||||||||||
Lincoln Park Capital Fund [Member] | L P C Purchased [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 7,982,518 | ||||||||||||||||||||||||||||||
Proceeds from sale of stock | $ 2,656,106 | ||||||||||||||||||||||||||||||
A G P [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants exercisable price per share | $ 0.50 | ||||||||||||||||||||||||||||||
Warrants issued, common shares eligible | 550,000 | ||||||||||||||||||||||||||||||
Warrants issued, value | $ 220,000 | ||||||||||||||||||||||||||||||
Warrants expiration date | Aug. 06, 2024 | ||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lincoln Park Capital Fund [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Proceeds from sale of stock | $ 250,000 | ||||||||||||||||||||||||||||||
Restricted Stock [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 2,300,000 | 2,300,000 | 2,300,000 | ||||||||||||||||||||||||||||
Share price | $ 0.19 | $ 0.19 | $ 0.19 | ||||||||||||||||||||||||||||
General and administrative expenses | $ 433,800 | $ 433,800 | $ 433,800 | ||||||||||||||||||||||||||||
Accredited Investors Note Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Conversion of debt, shares | 7,343,989 | ||||||||||||||||||||||||||||||
Conversion of debt, amount | $ 500,000 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | 28,767 | ||||||||||||||||||||||||||||||
Debt converted, principal amount | $ 528,767 | ||||||||||||||||||||||||||||||
Prevacus Option Agreement [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 2,000,000 | ||||||||||||||||||||||||||||||
Share price | $ 0.17 | ||||||||||||||||||||||||||||||
Shares issued | 1,000,000 | ||||||||||||||||||||||||||||||
In process research and development expenses | $ 170,000 | ||||||||||||||||||||||||||||||
John Gandolfo [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 25,000 | ||||||||||||||||||||||||||||||
Debt converted, interest amount | $ 3,655 | ||||||||||||||||||||||||||||||
Conversion of debt, shares | 238,792 | ||||||||||||||||||||||||||||||
Accredited Investor [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Conversion of debt, shares | 7,343,989 | ||||||||||||||||||||||||||||||
Conversion of debt, amount | $ 500,000 | ||||||||||||||||||||||||||||||
Accrued interest | 28,767 | ||||||||||||||||||||||||||||||
Conversion of principal amount | 28,767 | ||||||||||||||||||||||||||||||
Warrants [Member] | Securities Purchase Agreement [Member] | Lincoln Park Capital Fund [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued shares | 833,333 | ||||||||||||||||||||||||||||||
Warrants exercisable price per share | $ 0.50 | ||||||||||||||||||||||||||||||
Restricted Common Stock [Member] | Securities Purchase Agreement [Member] | Lincoln Park Capital Fund [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 1,500,000 | ||||||||||||||||||||||||||||||
Mast Hill Fund LP [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants exercisable | 14,666,667 | 7,000,000 | |||||||||||||||||||||||||||||
Converted amount | $ 225,437 | ||||||||||||||||||||||||||||||
Conversion of stock, interest converted | 16,013 | ||||||||||||||||||||||||||||||
Conversion of stock, fees converted | 8,750 | ||||||||||||||||||||||||||||||
Debt converted, principal amount | $ 52,458 | $ 50,063 | $ 126,382 | $ 228,903 | |||||||||||||||||||||||||||
Warrants issued, common shares eligible | 12,444,445 | ||||||||||||||||||||||||||||||
Warrants issued, value | $ 63,455 | ||||||||||||||||||||||||||||||
Mast Hill Fund LP [Member] | Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants converted | 2,778,778 | 2,000,000 | |||||||||||||||||||||||||||||
Warrants issued | 1,926,713 | 1,610,390 | |||||||||||||||||||||||||||||
Warrants exercisable | 14,666,667 | ||||||||||||||||||||||||||||||
Mast Hill Fund LP [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued | 1,926,713 | 1,610,390 | 3,197,000 | ||||||||||||||||||||||||||||
Debt converted, amount converted | $ 44,266 | $ 46,833 | $ 43,975 | $ 42,710 | $ 47,653 | $ 0 | $ 225,437 | ||||||||||||||||||||||||
Conversion of debt, shares | 695,000 | 695,000 | 695,000 | 695,000 | 417,000 | 560,000 | 3,757,000 | ||||||||||||||||||||||||
Conversion of debt, amount | $ 50,040 | $ 50,040 | $ 50,040 | $ 50,040 | $ 50,040 | $ 42,000 | $ 292,200 | ||||||||||||||||||||||||
Debt converted, interest converted | $ 4,024 | $ 1,457 | $ 4,315 | $ 5,580 | $ 637 | $ 40,250 | $ 56,263 | ||||||||||||||||||||||||
Clear Think [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants converted | 500,000 | ||||||||||||||||||||||||||||||
Converted amount | $ 100,000 | ||||||||||||||||||||||||||||||
Stock returned, shares returned | 100,000 | ||||||||||||||||||||||||||||||
Debt converted, amount converted | 175,000 | ||||||||||||||||||||||||||||||
Debt converted, interest amount | $ 20,000 | ||||||||||||||||||||||||||||||
Conversion of debt, shares | 975,000 | 975,000 | |||||||||||||||||||||||||||||
Conversion of debt, amount | $ 175,000 | ||||||||||||||||||||||||||||||
Accrued interest | $ 20,000 | ||||||||||||||||||||||||||||||
L G H [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Conversion of debt, shares | 1,500,000 | ||||||||||||||||||||||||||||||
Conversion of debt, amount | $ 300,000 | ||||||||||||||||||||||||||||||
Number of shares common stock issued | 100,000 | ||||||||||||||||||||||||||||||
Issuance of shares value | $ 51,000 | ||||||||||||||||||||||||||||||
Odyssey [Member] | Prevacus Option Agreement [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares common stock issued | 1,000,000 | ||||||||||||||||||||||||||||||
Carter Terry Company Inc [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares issued other | 213,725 | ||||||||||||||||||||||||||||||
Number of value issued other | $ 13,443 | ||||||||||||||||||||||||||||||
Mast Hill [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Conversion of debt, shares | 695,000 | 695,000 | 695,000 | 695,000 | 417,000 | 560,000 | |||||||||||||||||||||||||
Accrued interest | $ 4,024 | $ 1,457 | $ 4,315 | $ 5,580 | $ 5,167 | $ 40,250 | |||||||||||||||||||||||||
Debt fees | 1,750 | 1,750 | 1,750 | 1,750 | 1,750 | $ 1,750 | |||||||||||||||||||||||||
Conversion of principal amount | $ 44,266 | $ 46,833 | $ 43,975 | $ 42,710 | $ 47,653 |
Income Taxes (Details - Income
Income Taxes (Details - Income tax rate reconciliation) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | ||
US federal statutory rates | 21% | 21% |
Valuation allowance | (21.00%) | (21.00%) |
Effective tax rate | 0% | 0% |
Income Taxes (Details - Tax pro
Income Taxes (Details - Tax provision (benefit)) - USD ($) | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | ||
Current deferred | $ 97,900 | $ 485,300 |
Increase in valuation allowance | (97,900) | (485,300) |
Total | $ 0 | $ 0 |
Income Taxes (Details - Deferre
Income Taxes (Details - Deferred tax asset) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Income Tax Disclosure [Abstract] | ||
Deferred tax asset | $ 2,862,500 | $ 2,960,400 |
Valuation allowance | (2,862,500) | (2,960,400) |
Net deferred tax asset | $ 0 | $ 0 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | Jul. 31, 2024 USD ($) |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 28,831,391 |
Unrecognized tax benefits | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details - Due to officers) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Related Party Transaction [Line Items] | ||
Due to related party | $ 1,275,996 | $ 1,797,656 |
Related Party [Member] | ||
Related Party Transaction [Line Items] | ||
Due to related party | 15,149 | 2,301 |
Related Party [Member] | Chief Executive Officer [Member] | ||
Related Party Transaction [Line Items] | ||
Due to related party | 12,313 | 668 |
Related Party [Member] | Chief Financial Officer [Member] | ||
Related Party Transaction [Line Items] | ||
Due to related party | $ 2,836 | $ 1,633 |
Related Party Transactions (D_2
Related Party Transactions (Details - Accrued compensation) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Salary and bonus payable | $ 1,508,710 | $ 1,193,602 |
Chief Executive Officer [Member] | ||
Salary and bonus payable | 1,138,400 | 935,831 |
Chief Financial Officer [Member] | ||
Salary and bonus payable | $ 370,309 | $ 257,771 |
Related Party Transactions (D_3
Related Party Transactions (Details Narrative) - USD ($) | Jul. 31, 2024 | Jul. 31, 2023 |
Related Party Transaction [Line Items] | ||
Notes payable | $ 1,684,667 | $ 2,425,000 |
Two Officers And Two Directors [Member] | ||
Related Party Transaction [Line Items] | ||
Notes payable | $ 25,000 |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details - Antidilutive shares) - shares | 12 Months Ended | |
Jul. 31, 2024 | Jul. 31, 2023 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 26,028,607 | 54,956,983 |
Equity Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 18,470,000 | 11,795,000 |
Convertible Notes [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 0 | 25,547,822 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 7,558,607 | 14,558,607 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive shares | 0 | 3,055,554 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | Jul. 31, 2024 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Litigation reserve | $ 20,000 |