Rafael (RFL) 10-Q 9 Jun 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Apr. 30, 2020	Jun. 08, 2020
Document Information Line Items
Entity Registrant Name	Rafael Holdings, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--07-31
Amendment Flag	false
Entity Central Index Key	0001713863
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Apr. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity File Number	000-55863
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Class A common stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		15,030,982
Class B common stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		787,163

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 8,430	$ 12,024
Trade accounts receivable, net of allowance for doubtful accounts of $143 and $122 at April 30, 2020 and July 31, 2019, respectively	261	450
Due from Rafael Pharmaceuticals	135	280
Prepaid expenses and other current assets	336	507
Total current assets	9,162	13,261
Property and equipment, net	47,811	48,733
Investments – Rafael Pharmaceuticals	70,018	70,018
Investments – Other Pharmaceuticals	1,705	2,000
Investments – Hedge Funds	5,617	5,125
Equity investment – RP Finance	53
Deferred income tax assets, net	6	19
In-process research and development and patents	1,575	1,575
Other assets	1,484	1,412
TOTAL ASSETS	137,431	142,143
CURRENT LIABILITIES
Trade accounts payable	700	795
Accrued expenses	728	605
Other current liabilities	57	27
Total current liabilities	1,485	1,427
Due to Related Party	27	65
Convertible note, net of discount of $0 and $54 – Related Party		14,946
Other liabilities	92	292
Accrued interest on convertible note – Related Party		649
TOTAL LIABILITIES	1,604	17,379
COMMITMENTS AND CONTINGENCIES
EQUITY
Additional paid-in capital	128,998	112,898
Accumulated deficit	(10,850)	(5,840)
Accumulated other comprehensive income related to foreign currency translation adjustment	3,752	3,784
Total equity attributable to Rafael Holdings, Inc.	122,057	110,981
Noncontrolling interests	13,770	13,783
TOTAL EQUITY	135,827	124,764
TOTAL LIABILITIES AND EQUITY	137,431	142,143
Class A common stock
EQUITY
Common stock value	8	8
Class B common stock
EQUITY
Common stock value	$ 149	$ 131

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Allowance for doubtful accounts (in Dollars)	$ 143	$ 122
Convertible note, net of discount (in Dollars)	$ 0	$ 54
Class A common stock
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	787,163	787,163
Common stock, shares outstanding	787,163	787,163
Class B common stock
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	15,034,931	13,142,502
Common stock, shares outstanding	15,028,869	13,142,502

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
REVENUE:
Rental – Third Party	$ 360	$ 588	$ 1,076	$ 1,277
Rental – Related Party	523	521	1,570	1,564
Parking	221	268	664	688
Other – Related Party	120		360
Total Revenue	1,224	1,377	3,670	3,529
COSTS AND EXPENSES
Selling, general and administrative	2,081	2,059	6,343	5,228
Research and development	634	300	1,327	949
Depreciation and amortization	474	436	1,413	1,296
Loss from Operations	(1,965)	(1,418)	(5,413)	(3,944)
Interest (expense) income, net		(221)	(31)	647
Net gain (loss) resulting from foreign exchange transactions		19	(5)	19
Gain on sales of marketable securities, net				330
Impairment of investments – Other Pharmaceuticals	(295)		(295)
Unrealized (loss) gain on investments – Hedge Funds	(28)	466	492	414
Loss Before Income Taxes	(2,288)	(1,154)	(5,252)	(2,534)
(Provision for) benefit from income taxes	(8)	7	(24)	21
Equity in earnings of RP Finance	53		53
Consolidated Net Loss	(2,243)	(1,147)	(5,223)	(2,513)
Net (loss) attributable to noncontrolling interests	(84)	(142)	(213)	(6)
Foreign currency translation adjustments	(4)	(54)	(32)	(52)
Net Loss Attributable to Rafael Holdings, Inc.	(2,159)	(1,005)	(5,010)	(2,507)
Net Loss	(2,243)	(1,147)	(5,223)	(2,513)
Total Comprehensive Loss	(2,247)	(1,201)	(5,255)	(2,565)
Comprehensive (loss) income attributable to noncontrolling interests	(3)	(18)	(19)	5
Total Comprehensive Loss attributable to Rafael Holdings, Inc.	$ (2,244)	$ (1,183)	$ (5,236)	$ (2,570)
Loss Per Share:
Basic and diluted (in Dollars per share)	$ (0.14)	$ (0.07)	$ (0.32)	$ (0.19)
Weighted average number of shares used in calculation of loss per share:
Basic and diluted (in Shares)	15,813,679	13,924,691	15,747,709	13,055,037

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock, Series A	Common Stock, Series B	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Noncontrolling Interests
BALANCE at Jul. 31, 2018	$ 116,124	$ 8	$ 118	$ 103,636	$ (1,108)	$ 4,043	$ 9,427
BALANCE (in Shares) at Jul. 31, 2018		787,163	11,762,346
Net loss	(2,513)				(2,507)		(6)
Adoption effect of ASU 2016-01					(39)	39
Purchase of Class B Common Shares	8,642		$ 12	8,630
Purchase of Class B Common Shares (in Shares)			1,254,200
Stock based compensation	151			151
Stock based compensation (in Shares)
Stock based compensation to Board of Directors	107			107
Stock based compensation to Board of Directors (in Shares)			12,609
Stock options exercised	190			190
Stock options exercised (in Shares)			38,710
Restricted stock units issued	12		$ 1	11
Restricted stock units issued (in Shares)			71,468
Debt discount on convertible debt	71			71
Capital contribution from noncontrolling interest	4,587						4,587
Foreign currency translation adjustment	52					52
BALANCE at Apr. 30, 2019	127,423	$ 8	$ 131	112,796	(3,654)	4,134	14,008
BALANCE (in Shares) at Apr. 30, 2019		787,163	13,139,333
BALANCE at Jan. 31, 2019	128,391	$ 8	$ 131	112,671	(2,649)	4,080	14,150
BALANCE (in Shares) at Jan. 31, 2019		787,163	13,133,069
Net loss	(1,147)				(1,005)		(142)
Stock based compensation	91			91
Stock based compensation (in Shares)			750
Stock options exercised	27			27
Stock options exercised (in Shares)			5,514
Restricted stock units issued	7			7
Restricted stock units issued (in Shares)
Foreign currency translation adjustment	54					54
BALANCE at Apr. 30, 2019	127,423	$ 8	$ 131	112,796	(3,654)	4,134	14,008
BALANCE (in Shares) at Apr. 30, 2019		787,163	13,139,333
BALANCE at Jul. 31, 2019	124,764	$ 8	$ 131	112,898	(5,840)	3,784	13,783
BALANCE (in Shares) at Jul. 31, 2019		787,163	13,142,502
Net loss	(5,223)				(5,010)		(213)
Stock based compensation	338			338
Stock based compensation (in Shares)			24,071
Stock based compensation to Board of Directors	208			208
Stock based compensation to Board of Directors (in Shares)			12,609
Shares issued for convertible debt	15,668		$ 18	15,650
Shares issued for convertible debt (in Shares)			1,849,749
Stock options exercised	29			29
Stock options exercised (in Shares)			6,000
Conversion of LipoMedix Bridge Notes	200						200
Shares withheld for payroll taxes	(125)			(125)
Shares withheld for payroll taxes (in Shares)			(6,062)
Foreign currency translation adjustment	(32)					(32)
BALANCE at Apr. 30, 2020	135,827	$ 8	$ 149	128,998	(10,850)	3,752	13,770
BALANCE (in Shares) at Apr. 30, 2020		787,163	15,028,869
BALANCE at Jan. 31, 2020	137,919	$ 8	$ 149	128,843	(8,691)	3,756	13,854
BALANCE (in Shares) at Jan. 31, 2020		787,163	15,020,485
Net loss	(2,243)				(2,159)		(84)
Stock based compensation	135			135
Stock based compensation (in Shares)			3,208
Stock options exercised	29			29
Stock options exercised (in Shares)			6,000
Shares withheld for payroll taxes	(9)			(9)
Shares withheld for payroll taxes (in Shares)			(824)
Foreign currency translation adjustment	(4)					(4)
BALANCE at Apr. 30, 2020	$ 135,827	$ 8	$ 149	$ 128,998	$ (10,850)	$ 3,752	$ 13,770
BALANCE (in Shares) at Apr. 30, 2020		787,163	15,028,869

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Operating activities
Net loss	$ (5,223)	$ (2,513)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,413	1,296
Deferred income taxes	13	(24)
Interest income on Series D Convertible Note		(848)
Net gain on sales of marketable securities		(330)
Impairment of investments – Other Pharmaceuticals	295
Unrealized gain on investments – Hedge Funds	(492)	(414)
Equity in earnings of RP Finance	(53)
Provision for doubtful accounts	48	86
Non-cash compensation	546	269
Amortization of debt discount	54	11
Change in assets and liabilities:
Trade accounts receivable	141	(471)
Prepaid expenses and other current assets	171	(419)
Other assets	(72)	(180)
Accounts payable and accrued expenses	28	91
Due to/from related parties	107	473
Accrued interest – Related Party	19	418
Other current liabilities		(5)
Other liabilities	30	22
Net cash used in operating activities	(2,975)	(2,538)
Investing activities
Purchases of property and equipment	(491)	(364)
Proceeds from sale and maturity of marketable securities, net		25,031
Investment in Rafael Pharmaceuticals		(55,870)
Net cash used in investing activities	(491)	(31,203)
Financing activities
Contribution from noncontrolling interest of consolidated entity		4,587
Repayment of Loan from Rafael Pharmaceuticals		3,300
Proceeds from exercise of options	29	190
Proceed from sale of shares		7,777
Proceeds from convertible notes payable - Related Party		15,000
Payments for taxes related to shares withheld for employee taxes	(125)
Net cash (used in) provided by financing activities	(96)	30,854
Effect of exchange rate changes on cash and cash equivalents	(32)	53
Net decrease in cash and cash equivalents	(3,594)	(2,834)
Cash and cash equivalents at beginning of period	12,024	15,803
Cash and cash equivalents at end of period	8,430	12,969
Supplemental Schedule of Non-Cash Investing and Financing Activities
Adoption effect of ASU 2016-01		39
Beneficial conversion feature of convertible debt – Related Party		71
Debt and accrued interest converted to Series D Preferred Stock		10,848
Related Party deposit utilized to purchase Class B Common Stock		864
Conversion of LipoMedix Bridge Note	200
Conversions of Related Party convertible notes payable and accrued interest	$ 15,668

Description of Business

Description of Business	9 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 — DESCRIPTION OF BUSINESS Rafael Holdings, Inc. (“Rafael Holdings” or the “Company”), a Delaware corporation, owns interests in clinical stage pharmaceutical companies and commercial real estate assets. The assets are operated as two separate lines of business. The pharmaceutical holdings include preferred equity interests and a warrant to purchase additional equity interests in Rafael Pharmaceuticals, Inc., or Rafael Pharmaceuticals, which is a clinical stage, oncology-focused, pharmaceutical company committed to the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells, and a majority equity interest and certain short-term debt interests in LipoMedix Pharmaceuticals Ltd., or LipoMedix, a clinical stage oncological pharmaceutical company based in Israel. In addition, we have more recently established the Barer Institute (“Barer”), a wholly-owned early stage venture focused on developing a pipeline of therapeutic compounds, including compounds to regulate cancer metabolism. The venture is pursuing collaborative research agreements with leading scientists from top academic institutions. The commercial real estate holdings consist of a building at 520 Broad Street in Newark, New Jersey that serves as headquarters for the Company and certain other entities and hosts other tenants and an associated 800-car public garage, an office/data center building in Piscataway, New Jersey and a portion of a building in Israel. On March 26, 2018, IDT Corporation, or IDT, the former parent corporation of the Company, completed a tax-free spinoff (the “Spin-Off”) of the Company’s capital stock, through a pro rata distribution of common stock to its stockholders of record as of the close of business on March 13, 2018. The “Company” in these financial statements refers to Rafael Holdings on a consolidated basis from the date of the Spin-Off. All significant intercompany accounts and transactions have been eliminated in consolidation. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances being eliminated in consolidation. The entities included in these financial statements are as follows: Company Country of Incorporation Percentage Rafael Holdings, Inc. United States – Delaware Broad Atlantic Associates, LLC United States – Delaware 100 % IDT 225 Old NB Road, LLC United States – Delaware 100 % IDT R.E. Holdings Ltd. Israel 100 % Rafael Realty Holdings, Inc. United States – Delaware 100 % Barer Institute, Inc. United States – Delaware 100 % Pharma Holdings, LLC United States – Delaware 90 % CS Pharma Holdings, LLC United States – Delaware 45 %* LipoMedix Pharmaceuticals Ltd. Israel 57.9 % * 50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation have been included. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal 2020 refers to the fiscal year ending July 31, 2020). Operating results for the three and nine months ended April 30, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2020. The balance sheet at July 31, 2019 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2019, or the 2019 Form 10-K, as filed with the U.S. Securities and Exchange Commission (“SEC”). Investments The method of accounting applied to long-term investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also includes the identification of any variable interests in which the Company is the primary beneficiary. The consolidated financial statements include the Company’s controlled affiliates. All significant intercompany accounts and transactions between the consolidated and combined affiliates are eliminated. Investments in businesses that the Company does not control, but in which the Company has the ability to exercise significant influence over operating and financial matters, are accounted for using the equity method. Investments in which the Company does not have the ability to exercise significant influence over operating and financial matters are accounted for using the cost method. The Company periodically evaluates its investments for impairment due to declines considered to be other than temporary. If the Company determines that a decline in fair value is other than temporary, then a charge to earnings is recorded in “Other Expenses, net” in the accompanying consolidated statements of operations and comprehensive loss, and a new basis in the investment is established. Variable Interest Entities In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, If an entity is determined to be a VIE, the Company evaluates whether the Company is the primary beneficiary. The primary beneficiary analysis is a qualitative analysis based on power and economics. The Company consolidates a VIE if both power and benefits belong to the Company – that is, the Company (i) has the power to direct the activities of a VIE that most significantly influence the VIE’s economic performance (power), and (ii) has the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE (benefits). The Company consolidates VIEs whenever it is determined that the Company is the primary beneficiary. Cost Method Investments - Equity Method Investments - The Company accounts for its investment in RP Finance using the equity method of accounting. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. Risks and Uncertainties - COVID-19 In December 2019, a new coronavirus, now known as COVID-19, which has proved to be highly contagious, emerged in Wuhan, China and has since spread around the globe. The Company actively monitors the outbreak and its potential impact on its operations and those of the Company’s holdings. Although the Company’s operations are mainly in the United States, the Company has assets outside of the United States, and some of the Company’s pharmaceutical holdings conduct operations, manufacturing and clinical trial activities in Europe and Asia. The impacts on the operations and specifically the ongoing clinical trials of our pharmaceutical holdings have been actively managed by respective pharmaceutical management teams who have worked closely with the appropriate regulatory agencies to continue clinical trial activities with as minimal impact as possible. The Company has granted a rent concession to two of its retail tenants during the month of April; however, the Company does not believe this is recurring and believes that the rental revenues will continue. The Company has implemented a number of measures to protect the health and safety of our workforce including a mandatory work-from-home policy for our workforce who can perform their jobs from home as well as restrictions on business travel and workplace and in-person meetings. Due to both known and unknown risks, including quarantines, closures and other restrictions resulting from the outbreak, operations and those of the Company’s holdings may be adversely impacted. Additionally, as there is an evolving nature to the COVID-19 situation, we cannot reasonably assess or predict at this time the full extent of the negative impact that the COVID-19 pandemic may have on our business, financial condition, results of operations and cash flows. The impact will depend on future developments such as the ultimate duration and the severity of the spread of the COVID-19 pandemic in the U.S. and globally, the effectiveness of federal, state, local and foreign government actions on mitigation and spread of COVID-19, the pandemic's impact on the U.S. and global economies, changes in our customers' behavior emanating from the pandemic and how quickly we can resume our normal operations, among others. For all these reasons, the Company may incur expenses or delays relating to such events outside of the Company’s control, which could have a material adverse impact on the Company’s business. Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) The Company disaggregates its revenue by source within its consolidated statements of operations and comprehensive loss. As an owner and operator of real estate, the Company derives the majority of its revenue from leasing office and parking space to tenants at its properties. In addition, the Company earns revenue from recoveries from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs. Revenue from recoveries from tenants is recorded together with rental income on the consolidated statements of operations and comprehensive loss which is also consistent with the guidance under ASC 842 , Leases Contractual rental revenue is reported on a straight-line basis over the terms of the respective leases. Accrued rental income, included within Other Assets on the consolidated balance sheets, represents cumulative rental income earned in excess of rent payments received pursuant to the terms of the individual lease agreements. The Company also earns revenue from parking which is derived primarily from monthly and transient daily parking. The monthly and transient daily parking revenue falls within the scope of ASC 606 and is accounted for at the point in time when control of the goods or services transfers to the customer and the Company’s performance obligation is satisfied, consistent with the Company’s previous accounting. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required rent payments or parking customers to pay amounts due. Research and Development Costs and Expenses Research and development costs and expenses consist primarily of salaries and related personnel expenses, stock-based compensation, fees paid to external service providers, laboratory supplies, costs for facilities and equipment, license costs, and other costs for research and development activities. Research and development expenses are recorded in operating expenses in the period in which they are incurred. Estimates have been used in determining the liability for certain costs where services have been performed but not yet invoiced. The Company monitors levels of performance under each significant contract for external service providers, including the extent of patient enrollment and other activities through communications with the service providers to reflect the actual amount expended. Contingent milestone payments associated with acquiring rights to intellectual property are recognized when probable and estimable. These amounts are expensed to research and development when there is no alternative future use associated with the intellectual property. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, Recently Adopted Accounting Pronouncements The FASB issued ASU 2016-02, Leases (Topic 842) The Company initially adopted the new lease accounting standard as of August 1, 2019 and elected the optional transition method to apply the new standard prospectively. The Company elected the package of transition practical expedients, and therefore did not reassess: (1) whether any expired or existing contracts are or contain leases; (2) lease classification for any expired or existing leases; and (3) initial direct costs for any existing leases. Further, as of April 30, 2020, the Company was not a lessee under any leasing arrangements. which had, and will have, the following impacts on the Company: Topic 842 changed certain requirements regarding the classification of leases that could result in the Company recognizing certain long-term leases entered into or modified after August 1, 2019 as sales-type leases, as opposed to operating leases. The Company did not have a cumulative-effect adjustment as of the adoption date. The Company elected the practical expedient to not separate certain non-lease components from the lease component to which they relate because the timing and pattern of transfer for the lease components and non-lease components are the same and the related lease component is classified as an operating lease. As a result, the Company continues to present all rentals and reimbursements from tenants as a single line item Rental Income within the consolidated statements of operations and comprehensive loss. No reclassifications to prior periods for comparability were required.

Investment in Rafael Pharmaceut

Investment in Rafael Pharmaceuticals	9 Months Ended
	Apr. 30, 2020
Schedule of Investments [Abstract]
Cost-method Investments, Description [Text Block]	NOTE 3 – INVESTMENT IN RAFAEL PHARMACEUTICALS Rafael Pharmaceuticals is a clinical stage, oncology-focused pharmaceutical company committed to the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells. The Company owns equity interests and rights in Rafael Pharmaceuticals through a 90%-owned non-operating subsidiary, Pharma Holdings, LLC, or Pharma Holdings. Pharma Holdings owns 50% of CS Pharma Holdings, LLC (“CS Pharma”), a non-operating entity that owns equity interests in Rafael Pharmaceuticals. Accordingly, the Company holds an effective 45% indirect interest in the assets held by CS Pharma. Howard Jonas, Chairman of the Board and Chief Executive Officer of the Company, and Chairman of the Board of Rafael Pharmaceuticals owns 10% of Pharma Holdings. Pharma Holdings directly holds 36.7 million shares of Rafael Pharmaceuticals Series D Convertible Preferred Stock and a warrant to increase the collective ownership of Pharma Holdings and CS Pharma to up to 56% of the fully diluted equity interests in Rafael Pharmaceuticals (the “Warrant”). The Warrant is exercisable at the lower of 70% of the price sold in an equity financing, or $1.25 per share, subject to certain adjustments, and will expire upon the earlier of June 30, 2021, a qualified initial public offering, or liquidation event of Rafael Pharmaceuticals. On March 25, 2020, the Board of Directors of Rafael Pharmaceuticals extended the expiration date of the Warrant held by Pharma Holdings, LLC to purchase shares of the Warrant from December 31, 2020 to June 30, 2021. Pharma Holdings also holds certain governance rights in Rafael Pharmaceuticals including appointment of directors. CS Pharma holds 16.7 million shares of Rafael Pharmaceuticals Series D Convertible Preferred Stock. CS Pharma owned a $10 million Series D Convertible Note, with 3.5% interest, in Rafael Pharmaceuticals which was converted in January 2019. The Company and its subsidiaries collectively own securities representing 51% of the outstanding capital stock of Rafael Pharmaceuticals and 39% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). The Series D Convertible Preferred Stock has a stated value of $1.25 per share (subject to appropriate adjustment to reflect any stock split, combination, reclassification or reorganization of the Series D Preferred Stock or any dilutive issuances, as described below). Holders of Series D Stock are entitled to receive non-cumulative dividends when, as and if declared by the board of Rafael Pharmaceuticals, prior to any dividends to any other class of capital stock of Rafael Pharmaceuticals. In the event of any liquidation, dissolution or winding up of the Company, or in the event of any deemed liquidation, proceeds from such liquidation, dissolution, winding up shall be distributed first to the holders of Series D Stock. Except with respect to certain major decisions, or as required by law, holders of Series D Stock vote together with the holders of the other preferred stock and common stock and not as a separate class. The Company serves as the managing member of Pharma Holdings, and Pharma Holdings serves as the managing member of CS Pharma, with broad authority to make all key decisions regarding their respective holdings. Any distributions that are made to CS Pharma from Rafael Pharmaceuticals that are in turn distributed by CS Pharma, will need to be made pro rata to all members, which would entitle Pharma Holdings to 50% (based on current ownership) of such distributions. Similarly, if Pharma Holdings were to distribute proceeds it receives from CS Pharma, it would do so on a pro rata basis, entitling the Company to 90% (based on current ownership) of such distributions. The Company evaluated its investments in Rafael Pharmaceuticals in accordance with ASC 323 , Investments - Equity Method and Joint Ventures Rafael Pharmaceuticals is a VIE; however, the Company has determined that it is not the primary beneficiary as it does not have the power to direct the activities of Rafael Pharmaceuticals that most significantly impact Rafael Pharmaceuticals’ economic performance. In addition, the interests held in Rafael Pharmaceuticals are Series D Convertible Preferred Stock and do not represent in-substance common stock. Howard Jonas has additional contractual rights to receive additional Rafael Pharmaceutical shares (“Bonus Shares”) for an additional 10% of the fully diluted capital stock of Rafael Pharmaceuticals upon the achievement of certain milestones. The additional 10% is based on the fully diluted capital stock of Rafael Pharmaceuticals, excluding the remainder for the Warrant, at the time of issuance. If any of the milestones are met, the Bonus Shares are to be issued without any additional payment. Howard Jonas has the right to transfer the Bonus Shares, in his discretion, to others, including those who are instrumental to the future success of Rafael Pharmaceuticals.

Investment in RP Finance, LLC

Investment in RP Finance, LLC	9 Months Ended
	Apr. 30, 2020
Disclosure Text Block Supplement [Abstract]
Investment [Text Block]	NOTE 4 – INVESTMENT IN RP FINANCE, LLC On February 3, 2020, Rafael Pharmaceuticals entered into a Line of Credit Loan Agreement (“Line of Credit Agreement”) with RP Finance, LLC (“RP Finance”), which provides a revolving commitment of up to $50,000,000 to fund clinical trials and other capital needs. The Company owns 37.5% of the equity interests in RP Finance and is required to fund 37.5% of funding requests from Rafael Pharmaceuticals under the Line of Credit Agreement. Howard Jonas owns 37.5% of the equity interests in RP Finance, and is required to fund 37.5% of funding requests from Rafael Pharmaceuticals under the Line of Credit Agreement. The remaining 25% equity interests in RP Finance is owned by other shareholders of Rafael Pharmaceuticals. Under the Line of Credit Agreement, all funds borrowed will bear interest at the mid-term Applicable Federal Rate published by the U.S. Internal Revenue Service. The maturity date is the earlier of February 3, 2025, upon a change of control of Rafael Pharmaceuticals or a sale of Rafael Pharmaceuticals or its assets. Rafael Pharmaceuticals can draw on the facility on 60 days’ notice. The funds borrowed under the Line of Credit Agreement must be repaid out of certain proceeds from equity sales by Rafael Pharmaceuticals. In connection with entering into the Line of Credit Agreement, Rafael Pharmaceuticals agreed to issue to RP Finance shares of its common stock representing 12% of the issued and outstanding shares of Rafael Pharmaceuticals common stock, with such interest subject to anti-dilution protection as set forth in the Line of Credit Agreement. RP Finance has been identified as a VIE; however, the Company has determined that it is not the primary beneficiary as the Company does not have the power to direct the activities of RP Finance that most significantly impact RP Finance’s economic performance, and therefore is not required to consolidate RP Finance. Therefore, we will use the equity method of accounting to record our investment in RP Finance. The Company has recognized approximately $53 thousand in income from its ownership interests of 37.5% in RP Finance as of April 30, 2020.

Investment in LipoMedix

Investment in LipoMedix	9 Months Ended
	Apr. 30, 2020
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	NOTE 5 — INVESTMENT IN LIPOMEDIX LipoMedix is a development-stage, privately held Israeli company focused on the development of an innovative, safe and effective cancer therapy based on liposome delivery. The Company holds 57.9% of the issued and outstanding ordinary shares of LipoMedix and has consolidated this investment from the second quarter of fiscal 2018. In July 2018, the Company provided no-interest bridge financing of $875,000 to LipoMedix (the “2018 Bridge Note”), which was converted into 1,650,943 shares of LipoMedix on January 20, 2020 in accordance with its terms, thereby increasing the Company’s ownership from 52.1% to 57.9%. In April 2019, the Company provided no-interest bridge financing of $250,000 to LipoMedix (the “2019 Bridge Note”). The 2019 Bridge Note converted into 471,698 shares of LipoMedix on September 28, 2019 which increased the Company’s ownership on that date from 50.6% to 52.1%. In November 2019, the Company provided bridge financing in the principal amount of $100,000 to LipoMedix with a maturity date of May 3, 2020. Under the terms of the note, as long as it remains outstanding, LipoMedix may not incur any additional debt, make any shareholder distributions, or assume any liens on property or assets. In January 2020, the Company provided bridge financing in the principal amount of $125,000 to LipoMedix with a maturity date of May 3, 2020. Under the terms of the note, as long as it remains outstanding, LipoMedix may not incur any additional debt, make any shareholder distributions, or assume any liens on property or assets. In March 2020, the Company provided bridge financing in the principal amount of $75,000 to LipoMedix with a maturity date of April 20, 2020. Under the terms of the note, as long as it remains outstanding, LipoMedix may not incur any additional debt, make any shareholder distributions, or assume any liens on property or assets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 6 — FAIR VALUE MEASUREMENTS The Fair Value Measurements and Disclosures topic of the FASB ASC requires disclosures about how fair value is determined for assets and liabilities and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs as follows: Level 1 – Level 2 – Level 3 – The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a listing of the Company’s assets required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of April 30, 2020 and July 31, 2019: April 30, 2020 Level 1 Level 2 Level 3 Total Assets: (unaudited, in thousands) Investments – Hedge Funds $ — $ — $ 5,617 $ 5,617 Total $ — $ — $ 5,617 $ 5,617 July 31, 2019 Level 1 Level 2 Level 3 Total Assets: (unaudited, in thousands) Investments – Hedge Funds $ — $ — $ 5,125 $ 5,125 Total $ — $ — $ 5,125 $ 5,125 At April 30, 2020 and July 31, 2019, the Company did not have any liabilities measured at fair value on a recurring basis. The following table summarizes the change in the balance of the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Nine Months Ended 2020 2019 (unaudited, in thousands) Balance, beginning of period $ 5,125 $ 12,118 Conversion of Series D Convertible Note — (7,900 ) Total gain included in earnings 492 414 Balance, end of period $ 5,617 $ 4,632 At July 31, 2018, the fair value of the Rafael Pharmaceuticals convertible promissory notes, which were classified as Level 3, was estimated based on a valuation of Rafael Pharmaceuticals by reference to recent transactions in its securities, the September 2016 Series D Convertible Note investment, as well as utilizing a discounted cash flow technique under the Income Approach and other factors that could not be corroborated by the market. The Note was converted into shares of Series D Convertible Preferred Stock of Rafael Pharmaceuticals in January 2019. Prior to the Spin-Off, IDT contributed a $2.0 million investment in securities of another entity that are not liquid, which were included in Investments – Other Pharmaceuticals in the accompanying consolidated balance sheets. The investment is accounted for under ASC 321, Investments - Equity Securities Fair Value of Other Financial Instruments The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. Cash and cash equivalents, prepaid expenses and other current assets, and other current liabilities. Other assets and other liabilities. The Company’s financial instruments include trade accounts receivable, trade accounts payable, and due from related parties. The recorded carrying amount of trade accounts receivable, trade accounts payable and due from related parties approximate their fair value due to their short-term nature. Other than noted above, the Company did not have any other assets or liabilities that were measured at fair value on a recurring basis as of April 30, 2020 or July 31, 2019.

Trade Accounts Receivable

Trade Accounts Receivable	9 Months Ended
	Apr. 30, 2020
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 7 — TRADE ACCOUNTS RECEIVABLE Trade Accounts Receivable consisted of the following: April 30, July 31, (unaudited, in thousands) Trade Accounts Receivable – Third Party $ 267 $ 561 Trade Accounts Receivable – Related Party 137 11 Less: Allowance for Doubtful Accounts (143 ) (122 ) Trade Accounts Receivable, net $ 261 $ 450 The current portion of deferred rental income included in Prepaid Expenses and Other Current Assets was approximately $17,000 and $34,000 as of April 30, 2020 and July 31, 2019, respectively. The noncurrent portion of deferred rental income included in Other Assets was approximately $1.4 million as of April 30, 2020 and July 31, 2019.

Property and Equipment

Property and Equipment	9 Months Ended
	Apr. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 8 — PROPERTY AND EQUIPMENT Property and equipment consisted of the following: April 30, July 31, (unaudited, in thousands) Building and Improvements $ 54,711 $ 54,241 Land 10,412 10,412 Furniture and Fixtures 1,145 1,145 Other 276 255 66,544 66,053 Less: Accumulated Depreciation and Amortization (18,733 ) (17,320 ) Total $ 47,811 $ 48,733 Other property and equipment consists of furniture and fixtures, office and other equipment and miscellaneous computer hardware. Depreciation and amortization expense pertaining to property and equipment was approximately $474,000 and $436,000 for the three months ended April 30, 2020 and 2019, respectively, and $1.4 million and $1.3 million for the nine months ended April 30, 2020 and 2019, respectively. The Company’s headquarters are located at 520 Broad Street in Newark, New Jersey where it occupies office space in the building owned by its subsidiary.

Loss Per Share

Loss Per Share	9 Months Ended
	Apr. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 9 — LOSS PER SHARE Basic net loss per share is computed by dividing net loss attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted loss per share includes potentially dilutive securities such as stock options and other convertible instruments. The following table summarizes the Company’s potentially dilutive securities which have been excluded from the calculation of dilutive loss per share as their effect would be anti-dilutive: April 30, July 31, (unaudited) Stock Options 580,874 587,133 Convertible Note — 1,847,594 Total 580,874 2,434,727 In the three and nine months ended April 30, 2020 and 2019, the diluted loss per share computation equals basic loss per share because the Company had a net loss and the impact of the assumed exercise of stock options and conversion of the convertible note would have been anti-dilutive.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Apr. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 10 — RELATED PARTY TRANSACTIONS The Company has historically maintained an intercompany balance due to/from related parties that relates to cash advances for investments, loan repayments, charges for services provided to the Company by IDT and payroll costs for the Company’s personnel that were paid by IDT. This is partially offset by rental income paid to the Company by various companies under common control to IDT. The Company recorded expense of approximately $205,000 in related party services to IDT, of which approximately $27,000 is included in due to related parties at April 30, 2020. The Company provides Rafael Pharmaceuticals with administrative, finance, accounting, tax and legal services. Howard S. Jonas serves as a Chairman of the Board of Rafael Pharmaceuticals and owns an equity interest in Rafael Pharmaceuticals. The Company billed Rafael Pharmaceuticals $120,000 during each of the first three quarters of fiscal 2020. As of April 30, 2020, Rafael Pharmaceuticals owed the Company $135,000 included in due from Rafael Pharmaceuticals. On November 15, 2018, Howard Jonas entered into an agreement to purchase a convertible note from the Company for $15.0 million convertible into shares of Class B common stock at $8.47 per share. The term of the note was three years with interest on the principal amount at a rate of 6% per annum, compounded quarterly. At issuance, the Company recorded a debt discount of approximately $70,000 related to the beneficial conversion feature of the note and amortized approximately $16,000 of the discount in fiscal 2019 which was recorded as interest expense. In addition, the Company recorded approximately $650,000 of interest expense for the year ended July 31, 2019. In August 2019, the note including accrued interest of approximately $667,000 was converted into 1,849,749 shares of common stock. On January 10, 2019, Pharma Holdings partially exercised a warrant to purchase 5.1 million shares of Series D Convertible Preferred Stock of Rafael Pharmaceuticals for $6.4 million, of which $640,000 was contributed by Howard Jonas and the remainder by the Company. On January 23, 2019, Pharma Holdings partially exercised a warrant to purchase 36.3 million shares of Series D Convertible Preferred Stock of Rafael Pharmaceuticals for $34.4 million, of which $3.4 million was contributed by Howard Jonas and the remainder by the Company. On January 29, 2020, in connection with the vesting of certain restricted shares of Class B common stock held by an officer of the Company, the Company withheld 5,238 shares to pay for the payroll taxes on the officer’s behalf, totaling approximately $116,000. The Company leases space to related parties which represented approximately 43% and 44% of the Company’s total revenue for the three months ended April 30, 2020 and 2019, respectively, and 43% and 38% for the nine months ended April 30, 2020 and 2019, respectively. See Note 15 for future minimum rent payments from related parties and other tenants. On April 6, 2020, the Howard S. Jonas 2017 Annuity Trust transferred 787,163 shares of Class A common stock of the Company (representing all of the issued and outstanding shares of the Class A common stock) and 4,306,738 shares of the Company’s Class B common stock to trusts for the benefit of eight of Howard Jonas’ children, with independent trustees, which shares were beneficially owned by Mr. Jonas, the Company’s Chairman and then controlling stockholder of the Company. Following the transfer, Mr. Jonas is no longer a controlling stockholder of the Company and the Company is no longer a controlled company as defined in Section 303A of the New York Stock Exchange Listed Company Manual.

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 11 — INCOME TAXES On December 22, 2017, the U.S. government enacted “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018”, which is commonly referred to as “The Tax Cuts and Jobs Act” (the “Tax Act”). The Tax Act provides for comprehensive tax legislation that, among other things, reduces the U.S. federal statutory corporate tax rate from 35.0% to 21.0% effective January 1, 2018, broadens the U.S. federal income tax base, requires companies to pay a one-time repatriation tax on earnings of certain foreign subsidiaries that were previously tax deferred (“transition tax”), and creates new taxes on certain foreign sourced earnings. At July 31, 2019, the Company did not have any undistributed earnings of its foreign subsidiaries. As a result, no additional income or withholding taxes were provided for, for the undistributed earnings or any additional outside basis differences inherent in the foreign entities. The Company reviewed the global intangible low taxed income (“GILTI”) and base erosion anti-abuse tax (“BEAT) that became effective August 1, 2018 and has not recorded any impact associated with either. At July 31, 2019, the Company had federal net operating loss (“NOL”) carryforwards from domestic operations of approximately $22.3 million to offset future taxable income. The Company has state NOLs of $3.2 million. The Company has NOL carryforwards from foreign operations of $1.2 million. As part of the Tax Act, federal NOLs generated in 2018 and later are not subject to an expiration period and are available to offset 80% of taxable income in the year in which they are utilized. The federal NOL carryforwards generated prior to 2018 will begin to expire in 2026. The state NOLs will begin to expire in 2038 and foreign NOLs do not expire. The Company anticipates that its assumptions and estimates may change as a result of future guidance and interpretation from the Internal Revenue Service, the FASB, and various other taxing jurisdictions. In particular, the Company anticipates that the U.S. state jurisdictions will continue to determine and announce their conformity with or decoupling from the Tax Act, either in its entirety or with respect to specific provisions. Legislative and interpretive actions could result in adjustments to the Company’s provisional estimates when the accounting for the income tax effects of the Tax Act is completed.

Business Segment Information

Business Segment Information	9 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 12 — BUSINESS SEGMENT INFORMATION The Company conducts business as two operating segments, Pharmaceuticals and Real Estate. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s CEO and chief operating decision-maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its Pharmaceuticals segment based primarily on research and development efforts and results of clinical trials and the Real Estate segment based primarily on results of operations. All investments in Rafael Pharmaceuticals and assets and expenses associated with LipoMedix and Barer are tracked separately in the Pharmaceuticals segment. All corporate costs are allocated to the Real Estate segment. The Pharmaceuticals segment is comprised of preferred equity interests and the Warrant to purchase equity interests in Rafael Pharmaceuticals, a majority equity interest in LipoMedix and Barer. To date, the Pharmaceuticals segment has not generated any revenues. The Real Estate segment consists of the Company’s real estate holdings, including a building at 520 Broad Street in Newark, New Jersey that houses headquarters for the Company and certain affiliates and its associated public garage, an office/data center building in Piscataway, New Jersey and a portion of an office building in Israel. Operating results for the business segments of the Company are as follows: (unaudited, in thousands) Pharmaceuticals Real Estate Total Three Months Ended April 30, 2020 Revenues $ — $ 1,224 $ 1,224 Loss from operations (778 ) (1,187 ) (1,965 ) Three Months Ended April 30, 2019 Revenues $ — $ 1,377 $ 1,377 Loss from operations (311 ) (1,107 ) (1,418 ) (unaudited, in thousands) Pharmaceuticals Real Estate Total Nine Months Ended April 30, 2020 Revenues $ — $ 3,670 $ 3,670 Loss from operations (1,558 ) (3,855 ) (5,413 ) Nine Months Ended April 30, 2019 Revenues $ — $ 3,529 $ 3,529 Loss from operations (1,014 ) (2,930 ) (3,944 ) Geographic Information Revenues from tenants located outside of the United States were generated entirely from tenants located in Israel. Revenues from these non-United States customers as a percentage of total revenues were as follows (revenues by country are determined based on the location of the related facility): Three Months Ended April 30, (unaudited) 2020 2019 Revenue from tenants located in Israel 6 % 2 % Nine Months Ended April 30, (unaudited) 2020 2019 Revenue from tenants located in Israel 6 % 2 % Net long-lived assets and total assets held outside of the United States, which are located in Israel, were as follows: (unaudited, in thousands) United States Israel Total April 30, 2020 Long-lived assets, net $ 46,201 $ 1,610 $ 47,811 Total assets 133,933 3,498 137,431 July 31, 2019 Long-lived assets, net $ 47,096 $ 1,637 $ 48,733 Total assets 138,535 3,608 142,143

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Apr. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 13 — COMMITMENTS AND CONTINGENCIES Legal Proceedings Under a Founders Agreement among LipoMedix and other parties, two of LipoMedix founders would become entitled to consulting payments in the approximate amounts of $385,000 and $358,000, respectively, upon the satisfaction of certain conditions thereto. LipoMedix believes that those conditions have not been satisfied and does not believe that they are likely to be satisfied until LipoMedix is successful in raising significant capital in the future. On September 17, 2018, LipoMedix was notified of a claim initiated by one of its founders seeking payment of consulting fees in the amount of approximately $377,000 and seeking to place restrictions on LipoMedix’s bank accounts and other assets to protect his claim. LipoMedix did not believe that the individual had the right to receive any payment at the current time. LipoMedix responded to the demand for the placement of restrictions on its assets. On November 26, 2018, the court denied the request by the founder to place restrictions on the assets. In May 2019, LipoMedix received a letter from the other founder requesting payment of his consulting fees. On July 15, 2019, the parties settled the matters and the two founders will be paid a percentage of future investments and certain other proceeds. On July 12, 2019, the Company received a Citation and Notification of Penalty from the Occupational Safety and Health Administration of the U.S. Department of Labor, or OSHA, related to an OSHA inspection of 520 Broad Street, Newark, New Jersey. The citation seeks to impose penalties related to alleged violations of the Occupation Safety and Health Act of 1970 at 520 Broad Street. On July 31, 2019, the Company filed a Notice of Contest with OSHA contesting the citation in its entirety. On February 14, 2020, the Company entered into a Settlement Agreement with OSHA, as related to the citation received on July 12, 2019. As part of the Settlement Agreement, the Company agreed to pay a penalty of $127,294 in eight quarterly installment payments through November 2021. The Company accounts for contingencies when a loss is considered probable and can be reasonably estimated. For the matters disclosed above, a legal accrual for approximately $225,000 has been recorded for legal fees and losses believed to be both probable and reasonably estimable, but an exposure to additional loss may exist in excess of the amount accrued. On December 31, 2019, an employee of the Company filed a complaint in connection with the incident that led to the OSHA inspection noted above for personal injuries against the Company and other parties in the New Jersey Supreme Court for an incident that took place on January 31, 2019 at 520 Broad Street, Newark, New Jersey. The Company intends to vigorously defend this matter. The loss is considered remote and no accrual has been recorded. The Company may from time to time be subject to legal proceedings that may arise in the ordinary course of business. Although there can be no assurance in this regard, the Company does not expect any of those legal proceedings to have a material adverse effect on the Company’s results of operations, cash flows or financial condition.

Equity

Equity	9 Months Ended
	Apr. 30, 2020
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 14 — EQUITY On November 15, 2018, Howard Jonas entered into an agreement to purchase a convertible note from the Company for $15.0 million that was convertible into shares of Class B common stock at $8.47 per share. The term of the note was three years with interest on the principal amount at a rate of 6% per annum, compounded quarterly. In August 2019, the note, including interest of approximately $667,000 was converted into 1,849,749 shares of Class B common stock. Pursuant to the Company’s 2018 Equity Incentive Plan, each of our three non-employee directors of the Company was granted 4,203 restricted shares of our Class B common stock in January 2020 which fully vested on the date of the grant. The fair value of the awards on the date of the grant was approximately $208,000 which was included in selling, general and administrative expense. Stock Options A summary of stock option activity for the Company is as follows: Number of Weighted- Weighted- Aggregate Outstanding at July 31, 2019 587,133 $ 4.90 3.66 $ 2,877 Granted — — — — Exercised (6,000 ) 4.90 2.91 (31 ) Cancelled / Forfeited (259 ) 4.90 — — Outstanding at April 30, 2020 580,874 $ 4.90 2.91 $ 2,846 Exercisable at April 30, 2020 580,874 $ 4.90 2.91 $ 2,846 During the nine months ended April 30, 2020, 259 options were canceled due to employee terminations. At April 30, 2020, there was no unrecognized compensation cost related to non-vested stock options. Restricted Stock The fair value of restricted shares of the Company’s Class B common stock is determined based on the closing price of the Company’s Class B common stock on the grant date. Share awards generally vest on a graded basis over three years of service. A summary of the status of the Company’s grants of restricted shares of Class B common stock is presented below: (unaudited) Number of Weighted- Fair Value Outstanding at July 31, 2019 156,426 $ 10.41 Granted 24,071 19.87 Vested (53,935 ) 8.36 Cancelled / Forfeited — — NON-VESTED SHARES AT April 30, 2020 126,562 $ 10.91 At April 30, 2020, there was $1.3 million of total unrecognized compensation cost related to non-vested restricted stock grants, which is expected to be recognized over the next 2.55 years.

Leases

Leases	9 Months Ended
	Apr. 30, 2020
Disclosure Text Block [Abstract]
Leases of Lessor Disclosure [Text Block]	NOTE 15 — LEASES The Company is the lessor of certain properties which are leased to tenants under net operating leases with initial term expiration dates ranging from 2021 to 2029. Lease income included on the consolidated statements of operations and comprehensive loss for the three and nine months ended April 30, 2020, was $883 thousand and $2.6 million, respectively. The future contractual minimum lease payments to be received (excluding operating expense reimbursements) by the Company as of April 30, 2020, under non-cancelable operating leases which expire on various dates through 2028 are as follows: Year ending July 31, Related Parties Other Total (unaudited, in thousands) 2020 $ 507 $ 287 $ 794 2021 2,041 1,112 3,153 2022 2,078 967 3,045 2023 2,117 640 2,757 2024 2,155 538 2,693 Thereafter 1,659 2,498 4,157 Total Minimum Future Rental Income $ 10,557 $ 6,042 $ 16,599 The Company has related party leases that expire in April 2025 for (i) an aggregate of 88,631 square feet, which includes two parking spots per thousand square feet of space leased at 520 Broad Street, Newark, New Jersey, and (ii) 3,595 square feet in Israel. The annual rent is approximately $2.0 million in the aggregate. The related parties have the right to terminate the domestic leases upon four months’ notice, and upon early termination will pay a termination penalty equal to 25% of the portion of the rent due over the course of the remaining term. A related party has the right to terminate the Israeli lease upon four months’ notice. IDT has the right to lease an additional 50,000 square feet, in 25,000-foot increments, in the building located at 520 Broad Street, Newark, New Jersey on the same terms as their base lease, and other rights should 25,000 square feet or less remain available to lessees in the building. Upon expiration of the lease, related parties have the right to renew the leases for another five years.

Subsequent Events

Subsequent Events	9 Months Ended
	Apr. 30, 2020
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 16 — SUBSEQUENT EVENTS The Company entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) on May 13, 2020 with a member (the “Seller”) of Altira Capital & Consulting, LLC (“Altira”). Pursuant to the Purchase Agreement, on May 13, 2020, the Seller sold the economic rights related to a 33.333% membership interest in Altira to the Company and in effect the Company purchased the potential right to receive a 1% royalty on Net Sales (as defined in the Altira Royalty Agreement) on sales of certain Rafael Pharmaceutical products. The purchase consideration for the purchase of the membership interest consists of 1) $1,000,000 payable monthly in four equal installments of $250,000 each; 2) payment of $3,000,000 due on January 3, 2021; 3) $3,000,000 due upon the completion of Rafael Pharmaceuticals’ Phase III pivotal trial (AVENGER 500®) of CPI-613® (devimistat); and 4) payment of $3,000,000 which is due within one-hundred and twenty (120) days from the date that Rafael Pharmaceuticals files a new drug application with the U.S. Food and Drug Administration for approval of devimistat (CPI-613) as a first in-line therapy for pancreatic cancer, as defined within the Purchase Agreement. The post-closing payments are to be made, at the Company’s discretion, in cash or shares of the Company’s Class B common stock based on the ten day average share price of the Company’s Class B common stock prior to the date of payment or any combination thereof. The Company entered into a Share Purchase Agreement, on May 20, 2020, with LipoMedix to purchase 4,000,000 ordinary shares of LipoMedix, for an aggregate purchase price of $1,000,000. The purchase consideration consists of the outstanding Promissory Notes between the Company and LipoMedix dated November 13, 2019, January 21, 2020 and March 27, 2020 in the total principal amount of $300,000 plus accrued interest, for an aggregate amount of $306,737, and $693,263 of cash.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation have been included. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal 2020 refers to the fiscal year ending July 31, 2020). Operating results for the three and nine months ended April 30, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2020. The balance sheet at July 31, 2019 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2019, or the 2019 Form 10-K, as filed with the U.S. Securities and Exchange Commission (“SEC”).
Investments	Investments The method of accounting applied to long-term investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also includes the identification of any variable interests in which the Company is the primary beneficiary. The consolidated financial statements include the Company’s controlled affiliates. All significant intercompany accounts and transactions between the consolidated and combined affiliates are eliminated. Investments in businesses that the Company does not control, but in which the Company has the ability to exercise significant influence over operating and financial matters, are accounted for using the equity method. Investments in which the Company does not have the ability to exercise significant influence over operating and financial matters are accounted for using the cost method. The Company periodically evaluates its investments for impairment due to declines considered to be other than temporary. If the Company determines that a decline in fair value is other than temporary, then a charge to earnings is recorded in “Other Expenses, net” in the accompanying consolidated statements of operations and comprehensive loss, and a new basis in the investment is established.
Variable Interest Entities	Variable Interest Entities In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, If an entity is determined to be a VIE, the Company evaluates whether the Company is the primary beneficiary. The primary beneficiary analysis is a qualitative analysis based on power and economics. The Company consolidates a VIE if both power and benefits belong to the Company – that is, the Company (i) has the power to direct the activities of a VIE that most significantly influence the VIE’s economic performance (power), and (ii) has the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE (benefits). The Company consolidates VIEs whenever it is determined that the Company is the primary beneficiary.
Cost Method Investments	Cost Method Investments -
Equity Method Investments	Equity Method Investments - The Company accounts for its investment in RP Finance using the equity method of accounting.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates.
Risks and Uncertainties - COVID-19	Risks and Uncertainties - COVID-19 In December 2019, a new coronavirus, now known as COVID-19, which has proved to be highly contagious, emerged in Wuhan, China and has since spread around the globe. The Company actively monitors the outbreak and its potential impact on its operations and those of the Company’s holdings. Although the Company’s operations are mainly in the United States, the Company has assets outside of the United States, and some of the Company’s pharmaceutical holdings conduct operations, manufacturing and clinical trial activities in Europe and Asia. The impacts on the operations and specifically the ongoing clinical trials of our pharmaceutical holdings have been actively managed by respective pharmaceutical management teams who have worked closely with the appropriate regulatory agencies to continue clinical trial activities with as minimal impact as possible. The Company has granted a rent concession to two of its retail tenants during the month of April; however, the Company does not believe this is recurring and believes that the rental revenues will continue. The Company has implemented a number of measures to protect the health and safety of our workforce including a mandatory work-from-home policy for our workforce who can perform their jobs from home as well as restrictions on business travel and workplace and in-person meetings. Due to both known and unknown risks, including quarantines, closures and other restrictions resulting from the outbreak, operations and those of the Company’s holdings may be adversely impacted. Additionally, as there is an evolving nature to the COVID-19 situation, we cannot reasonably assess or predict at this time the full extent of the negative impact that the COVID-19 pandemic may have on our business, financial condition, results of operations and cash flows. The impact will depend on future developments such as the ultimate duration and the severity of the spread of the COVID-19 pandemic in the U.S. and globally, the effectiveness of federal, state, local and foreign government actions on mitigation and spread of COVID-19, the pandemic's impact on the U.S. and global economies, changes in our customers' behavior emanating from the pandemic and how quickly we can resume our normal operations, among others. For all these reasons, the Company may incur expenses or delays relating to such events outside of the Company’s control, which could have a material adverse impact on the Company’s business.
Revenue Recognition	Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) The Company disaggregates its revenue by source within its consolidated statements of operations and comprehensive loss. As an owner and operator of real estate, the Company derives the majority of its revenue from leasing office and parking space to tenants at its properties. In addition, the Company earns revenue from recoveries from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs. Revenue from recoveries from tenants is recorded together with rental income on the consolidated statements of operations and comprehensive loss which is also consistent with the guidance under ASC 842 , Leases Contractual rental revenue is reported on a straight-line basis over the terms of the respective leases. Accrued rental income, included within Other Assets on the consolidated balance sheets, represents cumulative rental income earned in excess of rent payments received pursuant to the terms of the individual lease agreements. The Company also earns revenue from parking which is derived primarily from monthly and transient daily parking. The monthly and transient daily parking revenue falls within the scope of ASC 606 and is accounted for at the point in time when control of the goods or services transfers to the customer and the Company’s performance obligation is satisfied, consistent with the Company’s previous accounting. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required rent payments or parking customers to pay amounts due.
Research and Development Costs and Expenses	Research and Development Costs and Expenses Research and development costs and expenses consist primarily of salaries and related personnel expenses, stock-based compensation, fees paid to external service providers, laboratory supplies, costs for facilities and equipment, license costs, and other costs for research and development activities. Research and development expenses are recorded in operating expenses in the period in which they are incurred. Estimates have been used in determining the liability for certain costs where services have been performed but not yet invoiced. The Company monitors levels of performance under each significant contract for external service providers, including the extent of patient enrollment and other activities through communications with the service providers to reflect the actual amount expended. Contingent milestone payments associated with acquiring rights to intellectual property are recognized when probable and estimable. These amounts are expensed to research and development when there is no alternative future use associated with the intellectual property.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements The FASB issued ASU 2016-02, Leases (Topic 842) The Company initially adopted the new lease accounting standard as of August 1, 2019 and elected the optional transition method to apply the new standard prospectively. The Company elected the package of transition practical expedients, and therefore did not reassess: (1) whether any expired or existing contracts are or contain leases; (2) lease classification for any expired or existing leases; and (3) initial direct costs for any existing leases. Further, as of April 30, 2020, the Company was not a lessee under any leasing arrangements. which had, and will have, the following impacts on the Company: Topic 842 changed certain requirements regarding the classification of leases that could result in the Company recognizing certain long-term leases entered into or modified after August 1, 2019 as sales-type leases, as opposed to operating leases. The Company did not have a cumulative-effect adjustment as of the adoption date. The Company elected the practical expedient to not separate certain non-lease components from the lease component to which they relate because the timing and pattern of transfer for the lease components and non-lease components are the same and the related lease component is classified as an operating lease. As a result, the Company continues to present all rentals and reimbursements from tenants as a single line item Rental Income within the consolidated statements of operations and comprehensive loss. No reclassifications to prior periods for comparability were required.

Description of Business (Tables

Description of Business (Tables)	3 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
Schedule of entities majority-owned subsidiaries	Company Country of Incorporation Percentage Rafael Holdings, Inc. United States – Delaware Broad Atlantic Associates, LLC United States – Delaware 100 % IDT 225 Old NB Road, LLC United States – Delaware 100 % IDT R.E. Holdings Ltd. Israel 100 % Rafael Realty Holdings, Inc. United States – Delaware 100 % Barer Institute, Inc. United States – Delaware 100 % Pharma Holdings, LLC United States – Delaware 90 % CS Pharma Holdings, LLC United States – Delaware 45 %* LipoMedix Pharmaceuticals Ltd. Israel 57.9 % * 50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	April 30, 2020 Level 1 Level 2 Level 3 Total Assets: (unaudited, in thousands) Investments – Hedge Funds $ — $ — $ 5,617 $ 5,617 Total $ — $ — $ 5,617 $ 5,617 July 31, 2019 Level 1 Level 2 Level 3 Total Assets: (unaudited, in thousands) Investments – Hedge Funds $ — $ — $ 5,125 $ 5,125 Total $ — $ — $ 5,125 $ 5,125
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Nine Months Ended 2020 2019 (unaudited, in thousands) Balance, beginning of period $ 5,125 $ 12,118 Conversion of Series D Convertible Note — (7,900 ) Total gain included in earnings 492 414 Balance, end of period $ 5,617 $ 4,632

Trade Accounts Receivable (Tabl

Trade Accounts Receivable (Tables)	9 Months Ended
	Apr. 30, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	April 30, July 31, (unaudited, in thousands) Trade Accounts Receivable – Third Party $ 267 $ 561 Trade Accounts Receivable – Related Party 137 11 Less: Allowance for Doubtful Accounts (143 ) (122 ) Trade Accounts Receivable, net $ 261 $ 450

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Apr. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	April 30, July 31, (unaudited, in thousands) Building and Improvements $ 54,711 $ 54,241 Land 10,412 10,412 Furniture and Fixtures 1,145 1,145 Other 276 255 66,544 66,053 Less: Accumulated Depreciation and Amortization (18,733 ) (17,320 ) Total $ 47,811 $ 48,733

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Apr. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	April 30, July 31, (unaudited) Stock Options 580,874 587,133 Convertible Note — 1,847,594 Total 580,874 2,434,727

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	(unaudited, in thousands) Pharmaceuticals Real Estate Total Three Months Ended April 30, 2020 Revenues $ — $ 1,224 $ 1,224 Loss from operations (778 ) (1,187 ) (1,965 ) Three Months Ended April 30, 2019 Revenues $ — $ 1,377 $ 1,377 Loss from operations (311 ) (1,107 ) (1,418 ) (unaudited, in thousands) Pharmaceuticals Real Estate Total Nine Months Ended April 30, 2020 Revenues $ — $ 3,670 $ 3,670 Loss from operations (1,558 ) (3,855 ) (5,413 ) Nine Months Ended April 30, 2019 Revenues $ — $ 3,529 $ 3,529 Loss from operations (1,014 ) (2,930 ) (3,944 )
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended April 30, (unaudited) 2020 2019 Revenue from tenants located in Israel 6 % 2 % Nine Months Ended April 30, (unaudited) 2020 2019 Revenue from tenants located in Israel 6 % 2 %
Long-lived Assets by Geographic Areas [Table Text Block]	(unaudited, in thousands) United States Israel Total April 30, 2020 Long-lived assets, net $ 46,201 $ 1,610 $ 47,811 Total assets 133,933 3,498 137,431 July 31, 2019 Long-lived assets, net $ 47,096 $ 1,637 $ 48,733 Total assets 138,535 3,608 142,143

Equity (Tables)

Equity (Tables)	9 Months Ended
	Apr. 30, 2020
Equity [Abstract]
Share-based Payment Arrangement, Activity [Table Text Block]	Number of Weighted- Weighted- Aggregate Outstanding at July 31, 2019 587,133 $ 4.90 3.66 $ 2,877 Granted — — — — Exercised (6,000 ) 4.90 2.91 (31 ) Cancelled / Forfeited (259 ) 4.90 — — Outstanding at April 30, 2020 580,874 $ 4.90 2.91 $ 2,846 Exercisable at April 30, 2020 580,874 $ 4.90 2.91 $ 2,846
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	(unaudited) Number of Weighted- Fair Value Outstanding at July 31, 2019 156,426 $ 10.41 Granted 24,071 19.87 Vested (53,935 ) 8.36 Cancelled / Forfeited — — NON-VESTED SHARES AT April 30, 2020 126,562 $ 10.91

Leases (Tables)

Leases (Tables)	9 Months Ended
	Apr. 30, 2020
Disclosure Text Block [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year ending July 31, Related Parties Other Total (unaudited, in thousands) 2020 $ 507 $ 287 $ 794 2021 2,041 1,112 3,153 2022 2,078 967 3,045 2023 2,117 640 2,757 2024 2,155 538 2,693 Thereafter 1,659 2,498 4,157 Total Minimum Future Rental Income $ 10,557 $ 6,042 $ 16,599

Description of Business (Detail

Description of Business (Details)	9 Months Ended
	Apr. 30, 2020
CS Pharma Holdings, LLC [Member]
Description of Business (Details) [Line Items]
Percentage owned	50.00%
Interest percentage	45.00%
Pharma Holdings, LLC [Member]
Description of Business (Details) [Line Items]
Percentage owned	90.00%

Description of Business (Deta_2

Description of Business (Details) - Schedule of entities majority-owned subsidiaries	9 Months Ended
	Apr. 30, 2020
Rafael Holdings, Inc. [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Broad Atlantic Associates, LLC [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Percentage Owned	100.00%
IDT 225 Old NB Road, LLC [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Percentage Owned	100.00%
IDT R.E. Holdings Ltd. [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	Israel
Percentage Owned	100.00%
Rafael Realty Holdings, Inc. [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Percentage Owned	100.00%
Barer Institute, Inc. [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Percentage Owned	100.00%
Pharma Holdings, LLC [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Percentage Owned	90.00%
CS Pharma Holdings, LLC [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	United States - Delaware
Percentage Owned	45.00%	[1]
Lipomedix Pharmaceuticals Ltd. [Member]
Description of Business (Details) - Schedule of entities majority-owned subsidiaries [Line Items]
Country of Incorporation	Israel
Percentage Owned	57.90%
[1]	50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC.

Investment in Rafael Pharmace_2

Investment in Rafael Pharmaceuticals (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	9 Months Ended
	Jan. 31, 2019	Apr. 30, 2020
Investment in Rafael Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary		50.00%
Principal amount (in Dollars)	$ 10
Convertible promissory note, rate of interest	3.50%
Rafael Pharmaceuticals [Member]
Investment in Rafael Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary		90.00%
Ownership percentage in subsidiary and holds percentage of interest		50.00%
Indirect interest in assets held, percentage		45.00%
IDT-Rafael Holdings, LLC [Member]
Investment in Rafael Pharmaceuticals (Details) [Line Items]
Fully diluted		51.00%
Bonus shares		39.00%
Series D Convertible Preferred Stock [Member] | IDT-Rafael Holdings, LLC [Member]
Investment in Rafael Pharmaceuticals (Details) [Line Items]
Exercise price of warrants or rights, description		Pharma Holdings directly holds 36.7 million shares of Rafael Pharmaceuticals Series D Convertible Preferred Stock and a warrant to increase the collective ownership of Pharma Holdings and CS Pharma to up to 56% of the fully diluted equity interests in Rafael Pharmaceuticals (the “Warrant”). The Warrant is exercisable at the lower of 70% of the price sold in an equity financing, or $1.25 per share
Purchase of exercise the warrant, shares (in Shares)		16.7
Exercise of warrants purchases, description		The Series D Convertible Preferred Stock has a stated value of $1.25 per share (subject to appropriate adjustment to reflect any stock split, combination, reclassification or reorganization of the Series D Preferred Stock or any dilutive issuances, as described below). Holders of Series D Stock are entitled to receive non-cumulative dividends when, as and if declared by the board of Rafael Pharmaceuticals, prior to any dividends to any other class of capital stock of Rafael Pharmaceuticals. In the event of any liquidation, dissolution or winding up of the Company, or in the event of any deemed liquidation, proceeds from such liquidation, dissolution, winding up shall be distributed first to the holders of Series D Stock. Except with respect to certain major decisions, or as required by law, holders of Series D Stock vote together with the holders of the other preferred stock and common stock and not as a separate class.
Warrants expiry date		Jun. 30, 2021
Howard Jonas [Member]
Investment in Rafael Pharmaceuticals (Details) [Line Items]
Fully diluted		10.00%
Howard Jonas [Member] | Rafael Pharmaceuticals [Member]
Investment in Rafael Pharmaceuticals (Details) [Line Items]
Fully diluted		10.00%

Investment in RP Finance, LLC (

Investment in RP Finance, LLC (Details) - USD ($)	Feb. 03, 2020	Apr. 30, 2020
Investment in RP Finance, LLC (Details) [Line Items]
Income from interest		$ 53,000
Percentage of ownership interest		37.50%
Line of Credit Agreement [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds	$ 50,000,000
Line of Credit Facility, Interest Rate Description	The Company owns 37.5% of the equity interests in RP Finance and is required to fund 37.5% of funding requests from Rafael Pharmaceuticals under the Line of Credit Agreement. Howard Jonas owns 37.5% of the equity interests in RP Finance, and is required to fund 37.5% of funding requests from Rafael Pharmaceuticals under the Line of Credit Agreement. The remaining 25% equity interests in RP Finance is owned by other shareholders of Rafael Pharmaceuticals.
Rafael Pharmaceuticals [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Percentage of issued and outstanding shares		12.00%

Investment in LipoMedix (Detail

Investment in LipoMedix (Details) - LipoMedix [Member] - USD ($)	1 Months Ended					3 Months Ended
	Mar. 31, 2020	Jan. 31, 2020	Jan. 20, 2020	Nov. 30, 2019	Sep. 28, 2019	Jan. 31, 2018	Apr. 30, 2019	Jul. 31, 2018
Investment in LipoMedix (Details) [Line Items]
Issued and outstanding ordinary shares, percentage						57.90%
No-interest bridge financing (in Dollars)							$ 250,000	$ 875,000
Bridge Note Converted (in Shares)			1,650,943		471,698
Description of acquisition entity	the Company provided bridge financing in the principal amount of $75,000 to LipoMedix with a maturity date of April 20, 2020.	the Company provided bridge financing in the principal amount of $125,000 to LipoMedix with a maturity date of May 3, 2020.		the Company provided bridge financing in the principal amount of $100,000 to LipoMedix with a maturity date of May 3, 2020.
Minimum [Member]
Investment in LipoMedix (Details) [Line Items]
Ownership Percentage			52.10%		50.60%
Maximum [Member]
Investment in LipoMedix (Details) [Line Items]
Ownership Percentage			57.90%		52.10%

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	9 Months Ended
	Apr. 30, 2020USD ($)
Fair Value Disclosures [Abstract]
Spin-Off, IDT contribution investment amount	$ 2
Unrealized loss	$ 0.3

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of balance of assets measured at fair value on a recurring basis - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Fair Value Measurements (Details) - Schedule of balance of assets measured at fair value on a recurring basis [Line Items]
Investments – Hedge Funds	$ 5,617	$ 5,125
Total	5,617	5,125
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of balance of assets measured at fair value on a recurring basis [Line Items]
Investments – Hedge Funds
Total
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of balance of assets measured at fair value on a recurring basis [Line Items]
Investments – Hedge Funds
Total
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of balance of assets measured at fair value on a recurring basis [Line Items]
Investments – Hedge Funds	5,617	5,125
Total	$ 5,617	$ 5,125

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of period	$ 5,125	$ 12,118
Conversion of Series D Convertible Note		(7,900)
Total gain included in earnings	492	414
Balance, end of period	$ 5,617	$ 4,632

Trade Accounts Receivable (Deta

Trade Accounts Receivable (Details) - USD ($)	Apr. 30, 2020	Jul. 31, 2019
Current Portion of Deferred Rental Income [Member]
Trade Accounts Receivable (Details) [Line Items]
Prepaid expenses and other current assets	$ 17,000	$ 34,000
Noncurrent Portion of Deferred Rental Income [Member]
Trade Accounts Receivable (Details) [Line Items]
Other assets	$ 1,400,000	$ 1,400,000

Trade Accounts Receivable (De_2

Trade Accounts Receivable (Details) - Schedule of trade accounts receivable - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Schedule of trade accounts receivable [Abstract]
Trade Accounts Receivable – Third Party	$ 267	$ 561
Trade Accounts Receivable – Related Party	137	11
Less: Allowance for Doubtful Accounts	(143)	(122)
Trade Accounts Receivable, net	$ 261	$ 450

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense pertaining to property and equipment	$ 474	$ 436	$ 1,413	$ 1,296
Depreciation expenses			$ 1,400	$ 1,300

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Schedule of property and equipment [Abstract]
Building and Improvements	$ 54,711	$ 54,241
Land	10,412	10,412
Furniture and Fixtures	1,145	1,145
Other	276	255
Property and equipment, gross	66,544	66,053
Less: Accumulated Depreciation and Amortization	(18,733)	(17,320)
Total	$ 47,811	$ 48,733

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of common share equivalents, basic and dilutive loss per share - shares	3 Months Ended	12 Months Ended
	Apr. 30, 2020	Jul. 31, 2019
Loss Per Share (Details) - Schedule of common share equivalents, basic and dilutive loss per share [Line Items]
Total	580,874	2,434,727
Convertible Note [Member]
Loss Per Share (Details) - Schedule of common share equivalents, basic and dilutive loss per share [Line Items]
Total		1,847,594
Stock Options [Member]
Loss Per Share (Details) - Schedule of common share equivalents, basic and dilutive loss per share [Line Items]
Total	580,874	587,133

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)

Jan. 10, 2019

Jan. 29, 2020

Aug. 31, 2019

Jan. 23, 2019

Apr. 30, 2020

Apr. 30, 2019

Apr. 30, 2020

Apr. 30, 2019

Jul. 31, 2019

Apr. 06, 2020

Jan. 31, 2020

Nov. 15, 2018

Related Party Transactions (Details) [Line Items]

Debt discount

$ 54,000

$ 11,000

Percentage of total revenue

43.00%

44.00%

43.00%

38.00%

IDT [Member]

Related Party Transactions (Details) [Line Items]

Due to related parties

$ 205,000

$ 205,000

Due from related parties

27,000

27,000

Rafael Pharmaceuticals [Member]

Related Party Transactions (Details) [Line Items]

Due from related parties

$ 135,000

$ 135,000

$ 120,000

Howard S. Jonas [Member]

Related Party Transactions (Details) [Line Items]

Convertible debt

$ 15,000,000

Convertible conversion price per share (in Dollars per share)

$ 8.47

Interest rate on principal amount

6.00%

IDT Rafael Holdings, LLC [Member]

Related Party Transactions (Details) [Line Items]

Warrant exercised (in Shares)

5,100,000

36,300,000

Proceeds from warrant exercises

$ 6,400,000

$ 34,400,000

At issuance [Member]

Related Party Transactions (Details) [Line Items]

Beneficial conversion feature

$ 70,000

Debt discount

16,000

Interest expense

$ 650,000

Class B common stock [Member]

Related Party Transactions (Details) [Line Items]

Interest expense

$ 667,000

Conversion of common stock shares (in Shares)

1,849,749

Restricted shares vested (in Shares)

4,203

Annuity trust transferred shares (in Shares)

4,306,738

Class A common stock [Member]

Related Party Transactions (Details) [Line Items]

Annuity trust transferred shares (in Shares)

787,163

Howard S. Jonas [Member]

Related Party Transactions (Details) [Line Items]

Due to related parties

$ 640,000

Howard S. Jonas [Member]

Related Party Transactions (Details) [Line Items]

Due to related parties

$ 3,400,000

Officer's [Member] | Class B common stock [Member]

Related Party Transactions (Details) [Line Items]

Restricted shares vested (in Shares)

5,238

Payroll Taxes

$ 116,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Apr. 30, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Federal statutory corporate tax, description	The Tax Act provides for comprehensive tax legislation that, among other things, reduces the U.S. federal statutory corporate tax rate from 35.0% to 21.0% effective January 1, 2018, broadens the U.S. federal income tax base, requires companies to pay a one-time repatriation tax on earnings of certain foreign subsidiaries that were previously tax deferred (“transition tax”), and creates new taxes on certain foreign sourced earnings.
Federal net operating loss		$ 22.3
State net operating loss		3.2
Net operating loss foreign operations		$ 1.2
Percentage of available to offset of taxable income		80.00%
Description of Net Operating Loss	The federal NOL carryforwards generated prior to 2018 will begin to expire in 2026. The state NOLs will begin to expire in 2038 and foreign NOLs do not expire.

Business Segment Information (D

Business Segment Information (Details)	9 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Number of operating segments	2

Business Segment Information _2

Business Segment Information (Details) - Schedule of operating results for the business segments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,224	$ 1,377	$ 3,670	$ 3,529
Loss from operations	(1,965)	(1,418)	(5,413)	(3,944)
Real Estate [Member]
Segment Reporting Information [Line Items]
Revenues	1,224	1,377	3,670	3,529
Loss from operations	(1,187)	(1,107)	(3,855)	(2,930)
Pharmaceuticals [Member]
Segment Reporting Information [Line Items]
Revenues
Loss from operations	$ (778)	$ (311)	$ (1,558)	$ (1,014)

Business Segment Information _3

Business Segment Information (Details) - Schedule of revenue from tenants by geographic areas	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Segment Reporting Information [Line Items]
Revenue from tenants located in Israel	6.00%	2.00%	6.00%	2.00%

Business Segment Information _4

Business Segment Information (Details) - Schedule of net long-lived assets and total assets by geographic areas - USD ($) $ in Thousands	Apr. 30, 2020	Jul. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 137,431	$ 142,143
Business Segment [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	47,811	48,733
Total assets	137,431	142,143
United States [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	46,201	47,096
Total assets	133,933	138,535
Israel [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	1,610	1,637
Total assets	$ 3,498	$ 3,608

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Jul. 12, 2019	Sep. 17, 2018	Apr. 30, 2020
Commitments and Contingencies (Details) [Line Items]
Settlement agreement, Description	the Company agreed to pay a penalty of $127,294 in eight quarterly installment payments through November 2021.
Legal fees			$ 225,000
LipoMedix Pharmaceuticals Ltd. [Member]
Commitments and Contingencies (Details) [Line Items]
Consulting payments amounts			385,000
Payment of consulting fees		$ 377,000
Other parties [Member]
Commitments and Contingencies (Details) [Line Items]
Consulting payments amounts			$ 358,000

Equity (Details)

Equity (Details)	1 Months Ended		6 Months Ended	9 Months Ended
	Aug. 31, 2019USD ($)$ / shares	Nov. 15, 2018USD ($)$ / shares	Jan. 31, 2020	Apr. 30, 2020USD ($)shares
Equity (Details) [Line Items]
Numbet of non non-employee directors				3
Number of options, cancelled shares (in Shares) | shares				259
Total unrecognized compensation cost				$ 1,300,000
Unrecognized compensation cost over next period			2 years 200 days
Class B common stock
Equity (Details) [Line Items]
Conversion of common stock		$ 15,000,000
Conversion of common stock price per share (in Dollars per share) | $ / shares	$ 1,849,749	$ 8.47
Common stock conversion term		3 years
Debt instrument interest percent		6.00%
Interest expense	$ 667,000
Restricted shares granted (in Shares) | shares				4,203
Fair value of restricted shares				$ 208,000

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock option activity $ / shares in Units, $ in Thousands	9 Months Ended
	Apr. 30, 2020USD ($)$ / sharesshares
Equity [Abstract]
Number of Options, Outstanding, Beginning balance | shares	587,133
Weighted-Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 4.90
Weighted-Average Remaining Contractual Term, Outstanding, Beginning	3 years 240 days
Aggregate Intrinsic Value, Outstanding, | $	$ 2,877
Number of Options, Granted | shares
Weighted-Average Exercise Price, Granted | $ / shares
Weighted-Average Remaining Contractual Term, Outstanding, Granted
Aggregate Intrinsic Value, Outstanding, Granted | $
Number of Options, Exercised | shares	(6,000)
Weighted-Average Exercise Price, Exercised | $ / shares	$ 4.90
Weighted-Average Remaining Contractual Term, Outstanding, Exercised	2 years 332 days
Aggregate Intrinsic Value, Outstanding, Exercised | $	$ (31)
Number of Options, Cancelled / Forfeited | shares	(259)
Weighted-Average Exercise Price, Cancelled / Forfeited | $ / shares	$ 4.90
Weighted-Average Remaining Contractual Term, Outstanding, Cancelled / Forfeited
Aggregate Intrinsic Value, Outstanding, Cancelled / Forfeited | $
Number of Options, Outstanding, Beginning balance | shares	580,874
Weighted-Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 4.90
Weighted-Average Remaining Contractual Term, Outstanding, Beginning	2 years 332 days
Aggregate Intrinsic Value, Outstanding | $	$ 2,846
Number of Options, Exercisable | shares	580,874
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 4.90
Weighted-Average Remaining Contractual Term, Outstanding, Exercisable	2 years 332 days
Aggregate Intrinsic Value, Outstanding, Exercisable | $	$ 2,846

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of grants of restricted shares of Class B common stock	9 Months Ended
	Apr. 30, 2020$ / sharesshares
Equity [Abstract]
Number of Non-vested Shares, Beginning Balance | shares	156,426
Weighted- Average Grant- Date Fair Value, Beginning balance | $ / shares	$ 10.41
Number of Non-vested Shares, Granted | shares	24,071
Weighted- Average Grant- Date Fair Value, Granted | $ / shares	$ 19.87
Number of Non-vested Shares, Vested | shares	(53,935)
Weighted- Average Grant- Date Fair Value, Vested | $ / shares	$ 8.36
Number of Non-vested Shares, Cancelled / Forfeited | shares
Weighted- Average Grant- Date Fair Value, Cancelled / Forfeited | $ / shares
Number of Non-vested Shares, Ending Balance | shares	126,562
Weighted- Average Grant- Date Fair Value, Ending balance | $ / shares	$ 10.91

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2020	Apr. 30, 2020
Disclosure Text Block [Abstract]
Net operating leases with initial term expiration dates		The Company is the lessor of certain properties which are leased to tenants under net operating leases with initial term expiration dates ranging from 2021 to 2029.
Other income	$ 883	$ 2,600
Related party leases expire, description		The Company has related party leases that expire in April 2025 for (i) an aggregate of 88,631 square feet, which includes two parking spots per thousand square feet of space leased at 520 Broad Street, Newark, New Jersey, and (ii) 3,595 square feet in Israel.
Annual rent		$ 2,000
Related parties terminate leases, description		The related parties have the right to terminate the domestic leases upon four months’ notice, and upon early termination will pay a termination penalty equal to 25% of the portion of the rent due over the course of the remaining term. A related party has the right to terminate the Israeli lease upon four months’ notice. IDT has the right to lease an additional 50,000 square feet, in 25,000-foot increments, in the building located at 520 Broad Street, Newark, New Jersey on the same terms as their base lease, and other rights should 25,000 square feet or less remain available to lessees in the building. Upon expiration of the lease, related parties have the right to renew the leases for another five years.

Leases (Details) - Schedule of

Leases (Details) - Schedule of non-cancelable operating leases	Apr. 30, 2020USD ($)
Leases (Details) - Schedule of non-cancelable operating leases [Line Items]
2020	$ 794
2021	3,153
2022	3,045
2023	2,757
2024	2,693
Thereafter	4,157
Total Minimum Future Rental Income	16,599
Related Parties [Member]
Leases (Details) - Schedule of non-cancelable operating leases [Line Items]
2020	507
2021	2,041
2022	2,078
2023	2,117
2024	2,155
Thereafter	1,659
Total Minimum Future Rental Income	10,557
Other [Member]
Leases (Details) - Schedule of non-cancelable operating leases [Line Items]
2020	287
2021	1,112
2022	967
2023	640
2024	538
Thereafter	2,498
Total Minimum Future Rental Income	$ 6,042

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended	9 Months Ended
	May 20, 2020	Apr. 30, 2020	May 13, 2020
Subsequent Events (Details) [Line Items]
Percentage of royality interest on net sales			1.00%
Purchase agreement periodic payments, description		The purchase consideration for the purchase of the membership interest consists of 1) $1,000,000 payable monthly in four equal installments of $250,000 each; 2) payment of $3,000,000 due on January 3, 2021; 3) $3,000,000 due upon the completion of Rafael Pharmaceuticals’ Phase III pivotal trial (AVENGER 500®) of CPI-613® (devimistat); and 4) payment of $3,000,000 which is due within one-hundred and twenty (120) days from the date that Rafael Pharmaceuticals files a new drug application with the U.S. Food and Drug Administration for approval of devimistat (CPI-613) as a first in-line therapy for pancreatic cancer, as defined within the Purchase Agreement.
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Percentage of membership interest sold			33.333%
Number of shares purchased in share purchase agreement (in Shares)	4,000,000
Amount of shares purchased in share purchase agreement	$ 1,000,000
Total principal amount	300,000
Total aggregate amount	306,737
cash	$ 693,263