Rafael (RFL) 10-Q 14 Jun 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Apr. 30, 2022	Jun. 12, 2022
Document Information Line Items
Entity Registrant Name	RAFAEL HOLDINGS, INC.
Trading Symbol	RFL
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	Non-accelerated Filer
Document Period End Date	Apr. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-55863
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2296593
Entity Address, Address Line One	520 Broad Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	(212)
Local Phone Number	658-1450
Title of 12(b) Security	Class B common stock, par value $0.01 per share
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Class A Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		787,163
Class B Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		20,016,413

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 28,965	$ 7,854
Restricted cash		5,000
Available-for-sale securities	30,407
Interest receivable	258
Trade accounts receivable, net of allowance for doubtful accounts of $186 and $193 at April 30, 2022 and July 31, 2021, respectively	631	235
Due from Cornerstone Pharmaceuticals, net of allowance for losses on related party receivables of $720 and $0 at April 30, 2022 and July 31, 2021, respectively		600
Prepaid expenses and other current assets	2,251	1,075
Total current assets	62,512	14,764
Property and equipment, net	42,183	43,238
Equity investment – RP Finance LLC		575
Due from RP Finance LLC, net of allowance for losses on related party receivables of $9,375 and $0 at April 30, 2022 and July 31, 2021, respectively		7,500
Investments – Cornerstone Pharmaceuticals		79,141
Investments – Other Pharmaceuticals	477	477
Investments – Hedge Funds	4,684	5,268
In-process research and development and patents	1,575	1,575
Other assets	1,351	1,517
TOTAL ASSETS	112,782	154,055
CURRENT LIABILITIES
Trade accounts payable	873	1,160
Accrued expenses	1,335	1,227
Other current liabilities	611	252
Due to related parties	69	136
Note payable, net of debt issuance costs	14,903	14,528
Total current liabilities	17,791	17,303
Other liabilities	85	48
TOTAL LIABILITIES	17,876	17,351
COMMITMENTS AND CONTINGENCIES
EQUITY
Class A common stock, $0.01 par value; 35,000,000 shares authorized, 787,163 shares issued and outstanding as of April 30, 2022 and July 31, 2021, respectively	8	8
Class B common stock, $0.01 par value; 200,000,000 shares authorized, 20,004,234 issued and 19,981,157 outstanding as of April 30, 2022, and 16,947,066 issued and 16,936,864 outstanding as of July 31, 2021	200	169
Additional paid-in capital	254,892	159,136
Accumulated deficit	(160,673)	(40,799)
Accumulated other comprehensive loss related to unrealized loss on available-for-sale securities	(48)
Accumulated other comprehensive income related to foreign currency translation adjustment	3,767	3,772
Total equity attributable to Rafael Holdings, Inc.	98,146	122,286
Noncontrolling interests	(3,240)	14,418
TOTAL EQUITY	94,906	136,704
TOTAL LIABILITIES AND EQUITY	$ 112,782	$ 154,055

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
Allowance for doubtful accounts (in Dollars)	$ 186	$ 193
Allowance for losses on related party receivables (in Dollars)	720	0
Net of allowance for losses on related party receivables (in Dollars)	$ 9,375	$ 0
Class A Common Stock
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000,000	35,000,000
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	20,004,234	16,947,066
Common stock, shares outstanding	19,981,157	16,936,864

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
REVENUE
Rental – Third Party	$ 196	$ 228	$ 624	$ 654
Rental – Related Party	524	523	1,749	1,570
Parking	155	119	518	418
Other – Related Party		120	120	360
Total revenue	875	990	3,011	3,002
COSTS AND EXPENSES
Selling, general and administrative	3,940	3,006	15,936	8,365
Research and development	1,413	1,262	6,901	3,345
Depreciation and amortization	379	201	1,142	1,079
Provision for loss on receivable pursuant to line of credit			25,000
Provision for losses on related party receivables			10,095
Impairment - Altira				7,000
Loss from operations	(4,857)	(3,479)	(56,063)	(16,787)
Interest expense	(399)	(3)	(1,211)	(5)
Interest income	53	2	58	3
Gain on sale of building				749
Impairment of investments - Other Pharmaceuticals				(724)
Impairment of cost method investment - Cornerstone Pharmaceuticals			(79,141)
Loss on available-for-sale securities	(2)		(2)
Unrealized (loss) gain on investments - Hedge Funds	(341)	738	(584)	4,171
Loss before income taxes	(5,546)	(2,742)	(136,943)	(12,593)
Provision for income taxes	(2)	(4)	(6)	(13)
Equity in earnings (loss) of RP Finance		96	(575)	288
Consolidated net loss	(5,548)	(2,650)	(137,524)	(12,318)
Net loss attributable to noncontrolling interests	(19)	(97)	(17,650)	(154)
Net loss attributable to Rafael Holdings, Inc.	(5,529)	(2,553)	(119,874)	(12,164)
OTHER COMPREHENSIVE LOSS
Consolidated net loss	(5,548)	(2,650)	(137,524)	(12,318)
Unrealized loss on available-for-sale securities	(48)		(48)
Foreign currency translation adjustment	(160)	5	(5)	4
Total comprehensive loss	(5,756)	(2,645)	(137,577)	(12,314)
Comprehensive gain (loss) attributable to noncontrolling interests	4	(28)	(17,677)	(39)
Total comprehensive loss attributable to Rafael Holdings, Inc.	$ (5,760)	$ (2,617)	$ (119,900)	$ (12,275)
Loss per share
Basic and diluted (in Dollars per share)	$ (0.28)	$ (0.15)	$ (6.16)	$ (0.75)
Weighted average number of shares used in calculation of loss per share
Basic and diluted (in Shares)	19,759,114	16,668,624	19,472,178	16,216,969

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Accumulated Deficit	Accumulated other comprehensive income	Non controlling interests	Series ACommon Stock	Series BCommon Stock
Balance at Jul. 31, 2020	$ 130,528	$ 129,136	$ (16,255)	$ 3,762	$ 13,728	$ 8	$ 149
Balance (in Shares) at Jul. 31, 2020						787,163	15,028,536
Net loss	(12,318)		(12,164)		(154)
Stock-based compensation	737	737
Stock-based compensation (in Shares)							41,082
Stock-based compensation to Board of Directors	286	286
Stock-based compensation to Board of Directors (in Shares)							12,609
Shares issued - Securities Purchase Agreements	13,000	12,994					$ 6
Shares issued - Securities Purchase Agreements (in Shares)							567,437
Shares issued - Investment in Altira	6,250	6,248					$ 2
Shares issued - Investment in Altira (in Shares)							231,464
Shares withheld for payroll taxes	(185)	(185)
Shares withheld for payroll taxes (in Shares)							(7,214)
Warrants exercised	2,000	1,999					$ 1
Warrants exercised (in Shares)							87,298
Stock options exercised	43	43
Stock options exercised (in Shares)							8,750
Capital contribution for noncontrolling interest	912				912
Foreign currency translation adjustment	4			4
Balance at Apr. 30, 2021	141,257	151,258	(28,419)	3,766	14,486	$ 8	$ 158
Balance (in Shares) at Apr. 30, 2021						787,163	15,969,962
Balance at Jan. 31, 2021	135,387	142,746	(25,866)	3,761	14,583	$ 8	$ 155
Balance (in Shares) at Jan. 31, 2021						787,163	15,652,120
Net loss	(2,650)		(2,553)		(97)
Stock-based compensation	304	304
Shares issued - Investment in Altira	6,250	6,248					$ 2
Shares issued - Investment in Altira (in Shares)							231,464
Shares withheld for payroll taxes	(39)	(39)
Shares withheld for payroll taxes (in Shares)							(920)
Warrants exercised	2,000	1,999					$ 1
Warrants exercised (in Shares)							87,298
Foreign currency translation adjustment	5			5
Balance at Apr. 30, 2021	141,257	151,258	(28,419)	3,766	14,486	$ 8	$ 158
Balance (in Shares) at Apr. 30, 2021						787,163	15,969,962
Balance at Jul. 31, 2021	136,704	159,136	(40,799)	3,772	14,418	$ 8	$ 169
Balance (in Shares) at Jul. 31, 2021						787,163	16,936,864
Net loss	(137,524)		(119,874)		(17,650)
Stock-based compensation	16,890	16,879					$ 11
Stock-based compensation (in Shares)							1,050,902
Forfeiture of restricted stock	(18,978)	(18,969)					$ (9)
Forfeiture of restricted stock (in Shares)							(943,305)
Common stock sold to investors	99,170	99,142					$ 28
Common stock sold to investors (in Shares)							2,833,425
Transaction costs incurred in connection with sale of common stock	(6,228)	(6,228)
Common stock sold to related party	4,997	4,996					$ 1
Common stock sold to related party (in Shares)							112,501
Acquisition of additional ownership interest in LipoMedix		8			(8)
Shares withheld for payroll taxes	(72)	(72)
Shares withheld for payroll taxes (in Shares)							(9,230)
Unrealized loss on available-for-sale securities	(48)			(48)
Foreign currency translation adjustment	(5)			(5)
Balance at Apr. 30, 2022	94,906	254,892	(160,673)	3,719	(3,240)	$ 8	$ 200
Balance (in Shares) at Apr. 30, 2022						787,163	19,981,157
Balance at Jan. 31, 2022	99,656	253,896	(155,144)	3,927	(3,221)	$ 8	$ 190
Balance (in Shares) at Jan. 31, 2022						787,163	19,029,012
Net loss	(5,548)		(5,529)		(19)
Stock-based compensation	1,007	997					$ 10
Stock-based compensation (in Shares)							987,542
Forfeiture of restricted stock
Forfeiture of restricted stock (in Shares)							(34,808)
Shares withheld for payroll taxes	(1)	(1)
Shares withheld for payroll taxes (in Shares)							(589)
Unrealized loss on available-for-sale securities	(48)			(48)
Foreign currency translation adjustment	(160)			(160)
Balance at Apr. 30, 2022	$ 94,906	$ 254,892	$ (160,673)	$ 3,719	$ (3,240)	$ 8	$ 200
Balance (in Shares) at Apr. 30, 2022						787,163	19,981,157

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Operating activities
Consolidated net loss	$ (137,524)	$ (12,318)
Adjustments to reconcile consolidated net loss to net cash used in operating activities
Depreciation and amortization	1,142	1,079
Deferred income taxes		15
Net unrealized loss (gain) on investments - Hedge Funds	584	(4,171)
Realized loss on available-for-sale securities	2
Impairment of investments - Other Pharmaceuticals		724
Impairment of cost method investment - Cornerstone Pharmaceuticals	79,141
Impairment - Altira		7,000
Provision for loss on receivable pursuant to line of credit	25,000
Equity in loss (earnings) of RP Finance	575	(288)
Provision for losses on related party receivables	10,095
Provision for doubtful accounts	(7)	(183)
Stock-based compensation, net	(2,088)	1,023
Amortization of debt discount	375
Gain on sale of building		(749)
Change in assets and liabilities:
Interest receivable	(258)
Trade accounts receivable	(390)	202
Prepaid expenses and other current assets	(1,175)	(352)
Other assets	166	98
Accounts payable and accrued expenses	(179)	(459)
Other current liabilities	514	120
Due to related parties	(67)	60
Due from Cornerstone Pharmaceuticals	(120)	(362)
Other liabilities	37	(59)
Net cash used in operating activities	(24,177)	(8,620)
Investing activities
Purchases of property and equipment	(87)	(237)
Payment to fund RP Finance Line of Credit	(1,875)	(3,750)
Payment to Cornerstone Pharmaceuticals pursuant to Line of Credit	(25,000)
Purchases of available-for-sale securities	(32,957)
Proceeds from maturities of available-for-sale securities	2,500
Proceeds from sale of building		3,658
Proceeds related to distribution from Hedge Funds		2,000
Purchase of Investment in Altira		(1,250)
Investment in Cornerstone Pharmaceuticals		(9,123)
Net cash used in investing activities	(57,419)	(8,702)
Financing activities
Contribution from noncontrolling interest of consolidated entity		912
Proceeds from exercise of options		43
Proceeds from exercise of warrants		2,000
Proceeds from issuance of common stock	104,167	13,000
Payment of transaction costs incurred in connection with sale of common stock	(6,228)
Payments for taxes related to shares withheld for employee taxes	(72)	(185)
Net cash provided by financing activities	97,867	15,770
Effect of exchange rate changes on cash and cash equivalents	(160)	25
Net increase (decrease) in cash and cash equivalents and restricted cash	16,111	(1,527)
Cash and cash equivalents, and restricted cash, beginning of period	12,854	6,206
Cash and cash equivalents, and restricted cash, end of period	28,965	4,679
Supplemental schedule of noncash investing and financing activities
Common shares issued for payment of purchase price for Altira equity		6,250
Acquisition of additional ownership interest in LipoMedix	$ 8

Description of Business

Description of Business	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS Rafael Holdings, Inc. (NYSE-RFL), (“Rafael Holdings” or the “Company”), a Delaware corporation, is focused on discovering and developing novel cancer and immune metabolism therapies with the potential to improve and extend the lives of patients. The Company also owns commercial real estate assets, which it operates as a separate line of business. The Company has an investment in Cornerstone Pharmaceuticals, Inc. (“Cornerstone Pharmaceuticals”), formerly known as Rafael Pharmaceuticals Inc., or Rafael Pharmaceuticals, that includes preferred and common equity interests and a warrant to purchase additional equity. On June 17, 2021, the Company entered into a merger agreement to acquire full ownership of Cornerstone Pharmaceuticals in exchange for issuing Company Class B common stock to the other stockholders of Cornerstone Pharmaceuticals. On October 28, 2021, the Company announced that the AVENGER 500 Phase 3 clinical trial for CPI-613® (devimistat), Cornerstone Pharmaceuticals’ lead product candidate, did not meet its primary endpoint of significant improvement in overall survival in patients with metastatic adenocarcinoma of the pancreas, and following a pre-specified interim analysis, the independent data monitoring committee for the ARMADA 2000 Phase 3 study for devimistat recommended the trial to be stopped due to a determination that it was unlikely to achieve the primary endpoint (the “Data Events”). In connection with the preparation of the Company’s first quarter financial statements, accounting principles generally accepted in the United States of America (“U.S. GAAP”) required that the Company assess the impact of the Data Events and determine whether the carrying values of the Company’s assets were impaired based upon the Company’s expectations to realize future value. In light of the Data Events, the Company concluded that currently the likelihood of further development of and prospects for CPI-613 is uncertain and has fully impaired in the Company’s financial statements for the nine months ended April 30, 2022, as well as the value of its loans, receivables, and investment in Cornerstone Pharmaceuticals based upon its valuation of Cornerstone Pharmaceuticals. On February 2, 2022, the Company withdrew its Registration Statement on Form S-4, which terminated the merger agreement pursuant to certain sections of the merger agreement, effective immediately. In 2019, the Company established the Barer Institute (“Barer”), an early-stage small molecule research institute focused on developing a pipeline of novel therapeutic compounds, including compounds to regulate cancer metabolism with potentially broader application in other indications beyond cancer. Barer is led by a team of scientists and academic advisors considered to be among the leading experts in cancer metabolism, chemistry, and drug development. In addition to its own internal discovery efforts, Barer is pursuing collaborative research agreements and in-licensing opportunities with leading scientists from top academic institutions. Farber Partners, LLC (“Farber”) was formed to support agreements with Princeton University’s Office of Technology Licensing for technology from the laboratory of Professor Joshua Rabinowitz, in the Department of Chemistry, Princeton University, including an exclusive worldwide license to its SHMT (serine hydroxymethyltransferase) inhibitor program. The Company also holds a majority equity interest in LipoMedix Pharmaceuticals Ltd. (“LipoMedix”), a clinical stage oncological pharmaceutical company based in Israel. In addition, the Company has recently initiated efforts to develop other early stage pharmaceutical ventures. The Company’s commercial real estate holdings consist of a building at 520 Broad Street in Newark, New Jersey that serves as headquarters for the Company and several tenants and an associated 800-car public garage, and a portion of a building in Israel. The Company has entered into an agreement to sell the building and garage. Refer to Note 19 for further details. The “Company” in these consolidated financial statements refers to Rafael Holdings and its subsidiaries on a consolidated basis. All significant intercompany accounts and transactions have been eliminated in consolidation. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances eliminated in consolidation or combination. In addition to Rafael Holdings, Inc., the subsidiaries included in these consolidated financial statements are as follows: Company Country of Incorporation Percentage Broad Atlantic Associates, LLC United States – Delaware 100 % IDT R.E. Holdings Ltd. Israel 100 % Rafael Holdings Realty, Inc. United States – Delaware 100 % Barer Institute, Inc. United States – Delaware 100 % The Barer Institute, LLC United States – Delaware 100 % Hillview Avenue Realty, JV United States – Delaware 100 % Hillview Avenue Realty, LLC United States – Delaware 100 % Rafael Medical Devices, LLC United States – Delaware 100 % Levco Pharmaceuticals Ltd. Israel 95 % Farber Partners, LLC United States – Delaware 93 % Pharma Holdings, LLC United States – Delaware 90 % LipoMedix Pharmaceuticals Ltd. Israel 84 % Altira Capital & Consulting, LLC United States – Delaware 67 % CS Pharma Holdings, LLC United States – Delaware 45 %* * 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. On March 15, 2022, the Company dissolved IDT 225 Old NB Road, LLC.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with 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 ended in the calendar year indicated (e.g., fiscal 2021 refers to the fiscal year ended July 31, 2021). Operating results for the three and nine months ended April 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2022. The balance sheet at July 31, 2021 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 fiscal 2021, or the 2021 Form 10-K, as filed with the U.S. Securities and Exchange Commission (the “SEC”). Reclassifications During the third quarter of fiscal 2022, the Company determined that it would revise the presentation of interest expense and interest income on its Consolidated Statements of Operations and Comprehensive Loss. The revised presentation is comprised of a reclassification of interest income out of interest expense, net and presentation of the two figures as separate line items on the Consolidated Statements of Operations and Comprehensive Loss for all periods presented. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. Liquidity As of April 30, 2022, the Company had cash and cash equivalents of $29.0 million, investments in corporate bonds valued at $30.4 million, and an investment in hedge funds valued at $4.7 million. The Company expects the balance of cash and cash equivalents, investments in corporate bonds, and investment in hedge funds to be sufficient to meet our obligations for the next 12 months from the issuance of these consolidated financial statements. Risks and Uncertainties - COVID-19, War in Ukraine In late 2019, a novel strain of coronavirus, SARS-CoV, which causes COVID-19, was identified and has proved to be highly contagious. It has since spread extensively throughout the world, including the United States, and was declared a global pandemic by the World Health Organization in March 2020. The Company actively monitors the outbreak, including the spread of new variants of interest, and its potential impact on the Company’s operations and those of the Company’s holdings. Even with growing availability of testing and vaccines and the relaxation of public health measures that were implemented to limit the spread of the pandemic, there continues to be uncertainty around the COVID-19 pandemic and its impact. The Company had implemented a number of measures to protect the health and safety of the Company’s workforce including a voluntary work-from-home policy for the Company’s workforce who can perform their jobs from home as well as restrictions on discretionary business travel. Most of our employees have returned to working from the office on a part-time basis. The full impact of the COVID-19 pandemic on the Company will depend on factors such as the length of time of the pandemic; the responses of federal, state and local governments; the impact of future variants that may emerge; vaccination rates among the population; the efficacy of the COVID-19 vaccines; the longer-term impact of the pandemic on the economy and consumer behavior; and the effect on our employees, vendors, and other partners. The short and long-term implications of Russia’s invasion of Ukraine are difficult to predict at this time. The imposition of sanctions and counter sanctions may have an adverse effect on the economic markets generally and could impact our business and the companies in which we have investments, financial condition, and results of operations. Because of the highly uncertain and dynamic nature of these events, it is not currently possible to estimate the impact of the Russian – Ukraine war on our business and the companies in which we have investments. Concentration of Credit Risk and Significant Customers The Company routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited. For the three and nine months ended April 30, 2022, related parties represented 60% and 58% of the Company’s revenue, respectively, and as of April 30, 2022, two customers, one of which is a related party, represented 70% and 18% of the Company’s accounts receivable balance, respectively. For the three and nine months ended April 30, 2021, related parties represented 62% and 63%, respectively, of the Company’s revenue, and as of April 30, 2021, two customers, one of which is a related party, represented 41% and 36% of the Company’s accounts receivable balance, respectively. Cash and Cash Equivalents The Company considers all liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Restricted Cash Restricted cash represented escrow funds held in bank accounts owned by the Company to be used to pay the severance due the chief executive officer for termination without cause, pursuant to his employment agreement. The Company did not have the right to use this cash balance for any other purpose. During February 2022, the Company paid approximately $5 million, from the restricted cash balance, in severance pay to Ameet Mallik, former CEO, in accordance with his separation and release agreement. Reserve for Receivables The Company evaluates accounts receivable, loans, interest and fees receivable for impairment under Accounting Standards Codification (“ASC”) 310, Receivables 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 include 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 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 the accompanying consolidated statements of operations and comprehensive loss, and a new basis in the investment is established. Investments - Hedge Funds The Company accounts for its investments in hedge funds in accordance with ASC 321 Investments – Equity Securities Corporate Bonds The Company’s marketable securities are considered to be available-for-sale as defined under ASC 320 “ Investments - Debt and Equity Securities Variable Interest Entities In accordance with 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 Revenue Recognition The Company applies the five-step approach as described in ASC 606, Revenue from Contracts with Customers 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 Research and development costs and expenses incurred by consolidated entities 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. Stock-Based Compensation The Company accounts for stock-based compensation using the provisions of ASC 718, Stock Based Compensation Recently Issued Accounting Standards Not Yet Adopted From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

Investment in Cornerstone Pharm

Investment in Cornerstone Pharmaceuticals	9 Months Ended
	Apr. 30, 2022
Schedule of Investments [Abstract]
INVESTMENT IN CORNERSTONE PHARMACEUTICALS	NOTE 3 – INVESTMENT IN CORNERSTONE PHARMACEUTICALS Equity Investment in Cornerstone Pharmaceuticals and Impairment of Cost Method Investment Cornerstone Pharmaceuticals is a clinical stage, cancer metabolism-based therapeutics 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 Cornerstone Pharmaceuticals through a 90%-owned non-operating subsidiary, Pharma Holdings, LLC, or Pharma Holdings. Pharma Holdings owns 50% of CS Pharma Holdings, LLC, or CS Pharma, a non-operating entity that owns equity interests in Cornerstone Pharmaceuticals. Accordingly, the Company holds an effective 45% indirect interest in the assets held by CS Pharma. A trust for the benefit of the children of Howard Jonas (Chairman of the Board and former Chief Executive Officer of the Company and Chairman of the Board of Cornerstone Pharmaceuticals) holds a financial instrument (the “Instrument”) that owns 10% of Pharma Holdings. Pharma Holdings holds 44.0 million shares of Cornerstone Pharmaceuticals Series D Convertible Preferred Stock and a warrant to increase the combined ownership of Pharma Holdings and CS Pharma to up to 56% of the fully diluted equity interests in Cornerstone Pharmaceuticals (the “Warrant”). The exercise price of the Warrant is the lower of 70% of the price sold in an equity financing, or $1.25 per share, subject to certain adjustments. On March 25, 2020, the Board of Directors of Cornerstone Pharmaceuticals extended the expiration date of the Warrant held by Pharma Holdings to purchase shares of the Warrant from December 31, 2020 to June 30, 2021, and on August 31, 2020 the Board of Directors of Cornerstone Pharmaceuticals further extended the expiration date of the Warrant held by Pharma Holdings, LLC to purchase shares of the Warrant to August 15, 2021. In connection with the merger agreement, the Warrant expiration was extended to April 1, 2022. The Company has asserted that it may be entitled to a further extension of the Warrant. At this time, the Company does not intend to exercise the Warrant. Pharma Holdings also holds certain governance rights in Cornerstone Pharmaceuticals including appointment of directors. Pharma Holdings is not the primary beneficiary of Cornerstone Pharmaceuticals as it does not control or direct the activities of Cornerstone Pharmaceuticals that most significantly impact Cornerstone Pharmaceuticals’ economic performance. CS Pharma holds 16.7 million shares of Cornerstone Pharmaceuticals Series D Convertible Preferred Stock. CS Pharma owned a $10 million Series D Convertible Note, with 3.5% interest, in Cornerstone Pharmaceuticals which was converted to shares of Series D Preferred Stock in January 2019. The Company and its subsidiaries collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 41% 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 Cornerstone Pharmaceuticals, prior to any dividends to any other class of capital stock of Cornerstone Pharmaceuticals. In the event of any liquidation, dissolution or winding up Cornerstone Pharmaceuticals, or in the event of any deemed liquidation, proceeds from such liquidation, dissolution or 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 Cornerstone 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 Cornerstone Pharmaceuticals in accordance with ASC 323, Investments - Equity Method and Joint Ventures, The Company has determined that Cornerstone 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 Cornerstone Pharmaceuticals that most significantly impact Cornerstone Pharmaceuticals’ economic performance. In addition, the interests held in Cornerstone Pharmaceuticals are Series D Convertible Preferred Stock and do not represent in-substance common stock. The Instrument holds a contractual right to receive additional shares of Cornerstone Pharmaceuticals capital stock equal to 10% of the fully diluted capital stock of Cornerstone Pharmaceuticals (the “Bonus Shares”) upon the achievement of certain milestones. The additional 10% is based on the fully diluted capital stock of Cornerstone 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. Pharma Holdings holds the Warrant to purchase a significant stake in Cornerstone Pharmaceuticals, as well as other equity and governance rights in Cornerstone Pharmaceuticals. The Company currently owns 51% of the issued and outstanding equity in Cornerstone Pharmaceuticals. Approximately 8% of the issued and outstanding equity is owned by the Company’s subsidiary CS Pharma and 43% is held by the Company’s subsidiary Pharma Holdings. The Company’s subsidiary Pharma Holdings holds the Warrant, which is non-dilutable and provides for the Company to increase its (via Pharma Holdings and CS Pharma and inclusive of the interests held by the other owners of those entities) total ownership to 56%. Based on the current shares issued and outstanding of Cornerstone Pharmaceuticals as of July 31, 2021, the Company, and the Company’s affiliates, would need to pay approximately $13.5 million to exercise the Warrant in full to 56%. On an as-converted fully diluted basis (for all convertible securities of Cornerstone Pharmaceuticals outstanding), the Company and the Company’s affiliates would need to pay approximately $118 million to exercise the Warrant in full (including to offset the impact of additional issuances of Cornerstone Pharmaceuticals equity under the Line of Credit, as defined below). The Instrument holds 10% of the interest in Pharma Holdings and would need to contribute 10% of any cash necessary to exercise any portion of the Warrant. Following any exercise, a portion of the Company’s interest in Cornerstone Pharmaceuticals would continue to be held for the benefit of the other equity holders in Pharma Holdings and CS Pharma. Given the Company’s anticipated available cash, the Company would not be able to exercise the Warrant in its entirety and the Company may never be able to exercise the Warrant in full. Cornerstone Pharmaceuticals may also issue additional equity interests, such as employee stock options, which will require the Company to pay additional cash to maintain the Company’s ownership percentage or exercise the Warrant in full. The terms of the Warrant provide that it expired on April 1, 2022, however the Company has asserted that it may be entitled to a further extension of the Warrant. At this time, the Company does not intend to exercise the Warrant. On January 28, 2021, Pharma Holdings partially exercised the Warrant to maintain the 51% ownership percentage and purchased 7.3 million shares of Cornerstone Pharmaceuticals’ Series D Preferred Stock for $9.1 million, of which $0.9 million was contributed by the holder of a minority interest in Pharma Holdings. Due to the Data Events, on October 28, 2021, the Company recorded an impairment charge of approximately $79.1 million related to the cost method investment in Cornerstone Pharmaceuticals representing the total amount of the Company’s cost method investment. The impairment loss was included in “Impairment of cost method investment – Cornerstone Pharmaceuticals” in the accompanying consolidated statements of operations and comprehensive loss for the nine months ended April 30, 2022. Approximately $17.3 million of the total impairment loss of $79.1 million was applicable to noncontrolling interests in certain of the Company’s subsidiaries and was allocated to the holders of interests in CS Pharma and Pharma Holdings in the approximate amounts of $10.4 million and $6.9 million, respectively. Line of Credit to Cornerstone Pharmaceuticals and Impairment of Related Receivable On September 24, 2021, the Company entered into a Line of Credit Loan Agreement (the “Line of Credit Agreement”) with Cornerstone Pharmaceuticals (the “Debtor”) in which the Debtor may borrow up to an aggregate amount of $25 million. The first advance made to the Debtor was in the amount of $1.9 million on September 24, 2021. On October 1, 2021, a second advance was made to the Debtor in the amount of $23.1 million. The line of credit agreement accrues interest at 9% per annum. The maturity date of the Line of Credit Agreement is June 17, 2022. All outstanding principal and unpaid accrued interest shall be paid on the maturity date unless earlier prepaid in accordance with the Line of Credit Agreement. Due to the Data Events, the Company recorded a full reserve on the amounts due the Company from Cornerstone Pharmaceuticals related to the Line of Credit Agreement for $25 million. The Company also recorded a loss on related party receivables of approximately $0.5 million and $2.0 million related to other amounts owed by Cornerstone Pharmaceuticals during the three and nine months ended April 30, 2022, respectively. The Company recorded a reserve on related party interest receivable of $0.5 million and $1.3 million in Interest income on the consolidated statements of operations and comprehensive loss during the three and nine months ended April 30, 2022, respectively.

Investment in Altira

Investment in Altira	9 Months Ended
	Apr. 30, 2022
Investment In Altira [Abstract]
INVESTMENT IN ALTIRA	NOTE 4 – INVESTMENT IN ALTIRA The Company entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) on May 13, 2020 with a member (the “First Seller”) of Altira Capital & Consulting, LLC (“Altira”). Pursuant to the Purchase Agreement, on May 13, 2020, the First 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 Royalty Agreement between Altira and Cornerstone Pharmaceuticals) on sales of certain Cornerstone Pharmaceuticals’ products. The purchase consideration for the purchase of the membership interest consisted of 1) $1,000,000 that was payable monthly in four equal monthly installments of $250,000 each; 2) $3,000,000 payable on January 3, 2021; 3) $3,000,000 due within fifteen (15) days of interim data analysis in Rafael Pharmaceutical’s Phase 3 pivotal trial (AVENGER 500®) of CPI-613® (devimistat); and 4) $3,000,000 which is due within one-hundred and twenty (120) days from the date that Cornerstone 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 in the Purchase Agreement. The post-closing payments are to be made to the First Seller, 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 has accounted for the purchase of the initial 33.333% membership interest in Altira as an equity method investment in accordance with the guidance in ASC 323, Investments – Equity Method and Joint Ventures For the fiscal 2020, the Company determined that the investment in Altira was fully impaired as of the acquisition date as there were no probable cash flows, and accordingly, the investment had no value. The Company recorded an impairment charge of $4,000,000, which was the total amount of the Company’s investment recognized for the Purchase Agreement as of July 31, 2020. On December 7, 2020, the Company purchased an additional 33.333% of membership interests in Altira, pursuant to a Membership Interest Purchase Agreement (the “Second Altira Agreement”) between the Company and another Altira member, (the “Second Seller”). With this transaction, the Company now owns a right to an aggregate 66.666% of the membership interests in Altira. Pursuant to the Second Altira Agreement, on December 7, 2020, the Second Seller sold his 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 an additional 1% royalty on Net Sales (as defined in the Royalty Agreement between Altira and Cornerstone Pharmaceuticals) on sales of certain Cornerstone Pharmaceuticals’ products. The consideration for the purchase of the Membership Interest consists of 1) $1,000,000 that was payable monthly in four equal monthly installments of $250,000 each, commencing on January 4, 2021; 2) $3,000,000 payable on January 4, 2021; 3) $3,000,000 due within fifteen (15) days of the earlier to occur of either the completion of Cornerstone Pharmaceuticals’ Phase III pivotal trial (AVENGER 500®) of CPI-613® (devimistat) or May 31, 2021 and not before January 4, 2021; and 4) $3,000,000 which is due within one-hundred and twenty (120) days from the date that Cornerstone 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 in the Purchase Agreement. Certain of the post-closing payments may 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 purchase of the additional membership interests was accounted for as an asset acquisition, as Altira is not considered a business in accordance with the guidance in ASC 805, Business Combinations. For the nine months ended April 30, 2021, the Company determined that the investment in Altira was fully impaired as of the acquisition date as there were no probable cash flows, and accordingly, had no value. The Company recorded an impairment charge of $7,000,000, which was the total amount of the Company’s investment recognized for the Second Altira Agreement as of April 30, 2021. During fiscal 2021, the Company issued 129,620 shares of Class B Common Stock with a value of $3.5 million to the First Seller under the Purchase Agreement. Additionally, the Company issued 150,703 shares of Class B Common Stock with a value of $5 million to the Altira Second Seller, and cash payments totaling $2 million to satisfy the remaining non-contingent obligation due to the Altira Second Seller during fiscal 2021. Upon the December 2020 acquisition of the additional 33% membership interest, the Company had a majority interest in Altira, which would require consolidation. However, the assets and operations of Altira are not significant to the Company as a whole. The Company has identified the investment in Altira as a related party transaction (see Note 13).

Investment in RP Finance, LLC

Investment in RP Finance, LLC	9 Months Ended
	Apr. 30, 2022
Investment In RP Finance LLC [Abstract]
INVESTMENT IN RP FINANCE, LLC	NOTE 5 – INVESTMENT IN RP FINANCE, LLC On February 3, 2020, Cornerstone Pharmaceuticals entered into a Line of Credit Loan Agreement (“Line of Credit Agreement”) with 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 Cornerstone 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 Cornerstone Pharmaceuticals under the Line of Credit Agreement. The remaining 25% equity interests in RP Finance are owned by other shareholders of Cornerstone 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 Cornerstone Pharmaceuticals or a sale of Cornerstone Pharmaceuticals or its assets. Cornerstone 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 Cornerstone Pharmaceuticals. In connection with entering into the Line of Credit Agreement, Cornerstone Pharmaceuticals agreed to issue to RP Finance shares of its common stock representing 12% of the issued and outstanding shares of Cornerstone Pharmaceuticals common stock, with such interest subject to anti-dilution protection as set forth in the Line of Credit Agreement. The Company has determined that RP Finance is 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, the Company will use the equity method of accounting to record its investment in RP Finance. The Company has recognized approximately $0 and $96 thousand in earnings from its ownership interests of 37.5% in RP Finance for the three months ended April 30, 2022 and 2021, respectively, and a loss of $575 thousand and earnings of $288 thousand from its ownership interests of 37.5% in RP Finance for the nine months ended April 30, 2022 and 2021, respectively. The assets and operations of RP Finance are not significant and the Company has identified the equity investment in RP Finance as a related party transaction (see Note 13). In August 2020, Cornerstone Pharmaceuticals called for a $5 million draw on the line of credit facility and the facility was funded by RP Finance LLC in the amount of $5 million, paid in parts in August and September 2020. In November 2020, Cornerstone Pharmaceuticals called for a second $5 million draw on the line of credit facility and the facility was funded by RP Finance in the amount of $5 million. In June 2021 and July 2021, Cornerstone Pharmaceuticals called for a total aggregate $10 million draw on the line of credit facility and the facility was funded by RP Finance in the amount of $10 million. In September 2021, Cornerstone Pharmaceuticals called for a $5 million draw on the line of credit facility and the facility was funded by RP Finance LLC in the amount of $5 million, paid in September 2021. As of April 30, 2022, the Company has funded a cumulative total of $9.375 million in accordance with its 37.5% ownership interests in RP Finance. Impairment of Equity Method Investment Due to the Data Events, during the three months ended October 31, 2021, the Company recorded equity in the loss of RP Finance of $575 thousand. As of April 30, 2022, the equity method investment on the Company’s balance sheet was $0, and no additional equity loss of RP Finance was recorded during the three months ended April 30, 2022. The Company was not obligated to guarantee obligations of RP Finance and is not committed to provided further financial support for RP Finance. Additionally, during the nine months ended April 30, 2022, the Company recorded a loss on related party receivables of $9.375 million related to amounts owed by RP Finance.

Investment in LipoMedix Pharmac

Investment in LipoMedix Pharmaceuticals Ltd.	9 Months Ended
	Apr. 30, 2022
Business Combinations [Abstract]
INVESTMENT IN LIPOMEDIX PHARMACEUTICALS LTD.	NOTE 6 – INVESTMENT IN LIPOMEDIX PHARMACEUTICALS LTD. 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. As of April 30, 2022, the Company held 84% of the issued and outstanding ordinary shares of LipoMedix and has consolidated this investment from the second quarter of fiscal 2018. 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. In May 2020, the Company entered into a Share Purchase Agreement with LipoMedix to purchase 4,000,000 ordinary shares of LipoMedix for an aggregate purchase price of $1,000,000. The purchase consideration consisted 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, thereby increasing the Company’s ownership in LipoMedix from 58% to 68%. In March 2021, the Company provided bridge financing in the principal amount of up to $400,000 to LipoMedix with a maturity date of September 1, 2021, and an interest rate of 8% per annum. As of October 31, 2021, the Company has provided $400,000 of funding to LipoMedix. As of October 31, 2021, accrued and unpaid interest on the bridge financing amounted to $20,094. If the note is not repaid or extended by the maturity, the interest rate will increase to 15% per annum. 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. As of September 1, 2021, LipoMedix was in default on the terms of the loan and as such, the interest rate has increased to 15% per annum. On November 15, 2021, the Company entered into a share purchase agreement with LipoMedix to purchase up to 15,975,000 ordinary shares at $0.1878 per share for an aggregate purchase price of $3.0 million (the “Share Purchase Agreement”). Additionally, LipoMedix issued the Company a warrant to purchase up to 15,975,000 ordinary shares at an exercise price of $0.1878 per share which expires on November 11, 2022. As of the date of the Share Purchase Agreement, there was an outstanding loan balance including principal of $400 thousand and accrued interest of $21.8 thousand owed by LipoMedix to the Company on the note from March 2021. The amount due on the loan was netted against the approximately $3.0 million aggregate purchase price due to LipoMedix, resulting in a cash payment by the Company of approximately $2.6 million in exchange for the 15,975,000 shares purchased. As a result of the share purchase, the Company’s ownership of LipoMedix increased to approximately 84% with a noncontrolling interest of approximately 16%. The Company recorded approximately $8 thousand to adjust the carrying amount of the noncontrolling interest to reflect the Company’s increased ownership interest in LipoMedix’s net assets.

Investments in Marketable Secur

Investments in Marketable Securities	9 Months Ended
	Apr. 30, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN MARKETABLE SECURITIES	NOTE 7 – INVESTMENTS IN MARKETABLE SECURITIES The Company has classified its investments in corporate bonds as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive loss in stockholders’ equity until realized. Investment transactions are recorded on their trade date. Gains and losses on marketable security transactions are reported on the specific-identification method. Interest income is accrued daily and adjusted for amortization of premiums and accretion of discounts on the corporate bonds. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities as of April 30, 2022 are as follows: April 30, 2022 Amortized Gross Gross Fair value (unaudited, in thousands) Available-for-sale securities: Corporate bonds $ 30,455 $ 5 $ (53 ) $ 30,407 Total available-for-sale securities $ 30,455 $ 5 $ (53 ) $ 30,407 The Company did not hold any investments in corporate bonds as of July 31, 2021. During the three and nine months ended April 30, 2022, the Company reclassified approximately $2 thousand of unrealized losses out of accumulated other comprehensive loss related to maturities of available-for-sale securities into consolidated net loss in the Consolidated Statements of Operations in Realized losses on available-for-sale securities. Maturities of corporate bonds held as of April 30, 2022 were all due within one year. Marketable securities in an unrealized loss position as of April 30, 2022 were not deemed impaired at acquisition and subsequent declines in fair value are not deemed attributed to declines in credit quality. The Company believes that it is more likely than not that the securities will receive a full recovery of par value, although there can be no assurance that such recovery will occur.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 8 – FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: ● 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, 2022 and July 31, 2021: April 30, 2022 Level 1 Level 2 Level 3 Total (unaudited, in thousands) Assets: Available-for-sale securities $ — $ 30,407 $ — $ 30,407 Hedge funds — — 4,684 4,684 Total $ — $ 30,407 $ 4,684 $ 35,091 July 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Assets: Hedge funds $ — $ — $ 5,268 $ 5,268 Total $ — $ — $ 5,268 $ 5,268 At April 30, 2022 and July 31, 2021, the Company did not have any liabilities measured at fair value on a recurring basis. The following table summarizes the changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months Ended Nine Months Ended 2022 2021 2022 2021 (unaudited, in thousands) (unaudited, in thousands) Balance, beginning of period $ 5,025 $ 8,943 $ 5,268 $ 7,510 Liquidation of Hedge Fund Investments — — — (2,000 ) Total (loss) gain included in earnings (341 ) 738 (584 ) 4,171 Balance, end of period $ 4,684 $ 9,681 $ 4,684 $ 9,681 Hedge funds classified as Level 3 include investments and securities which may not be based on readily observable data inputs. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. The fair value of these assets is estimated based on information provided by the fund managers or the general partners. Therefore, these assets are classified as Level 3. In October 2020, the Company received a $2 million distribution of the Company’s investments in Hedge Funds. The Company holds $0.5 million in investments in securities in 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, investment in equity securities, trade accounts receivable, and accounts payable. Marketable securities. 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 amounts 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, 2022 or July 31, 2021.

Trade Accounts Receivable

Trade Accounts Receivable	9 Months Ended
	Apr. 30, 2022
Receivables [Abstract]
TRADE ACCOUNTS RECEIVABLE	NOTE 9 – TRADE ACCOUNTS RECEIVABLE Trade Accounts Receivable consisted of the following: April 30, July 31, (unaudited, in thousands) (in thousands) Trade Accounts Receivable $ 207 $ 315 Accounts Receivable - Related Party 610 113 Less Allowance for Doubtful Accounts (186 ) (193 ) Trade Accounts Receivable, net $ 631 $ 235 The current portion of deferred rental income included in Prepaid Expenses and Other Current Assets was approximately $114 thousand and $111 thousand as of April 30, 2022 and July 31, 2021, respectively. The noncurrent portion of deferred rental income included in Other Assets was approximately $1.3 million and $1.5 million as of April 30, 2022 and July 31, 2021, respectively.

Property and Equipment

Property and Equipment	9 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 10 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following: April 30, July 31, (unaudited, in thousands) (in thousands) Building and Improvements $ 47,926 $ 47,841 Land 10,412 10,412 Furniture and Fixtures 1,145 1,145 Other 273 271 59,756 59,669 Less Accumulated Depreciation (17,573 ) (16,431 ) Total $ 42,183 $ 43,238 Other property and equipment consist of other equipment and miscellaneous computer hardware. Depreciation expense pertaining to property and equipment was approximately $0.4 million and $0.2 million for the three months ended April 30, 2022 and 2021, respectively, and $1.1 million for each of the nine months ended April 30, 2022 and 2021. The Company’s headquarters are located at 520 Broad Street in Newark, New Jersey, where it occupies office space in a building owned by its subsidiary. Refer to Note 19 for further information on 520 Broad Street.

Loss Per Share

Loss Per Share	9 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
LOSS PER SHARE	NOTE 11 – 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, unvested restricted stock, warrants to purchase common stock, and other convertible instruments unless the result of inclusion would be anti-dilutive. The securities set forth below have been excluded from the calculation of diluted net loss per share for the three and nine months ended April 30, 2022 and 2021 because all such securities are anti-dilutive for all periods presented. The following table summarizes the Company’s potentially dilutive securities, in common share equivalents, which have been excluded from the calculation of dilutive loss per share as their effect would be anti-dilutive: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Shares issuable upon exercise of stock options 1,021,277 689,210 1,021,277 689,210 Shares issuable upon vesting of restricted stock 1,062,773 95,728 1,062,773 95,728 Shares issuable upon exercise of warrants to purchase Class B common stock 26,189 26,189 26,189 26,189 2,110,239 811,127 2,110,239 811,127 The diluted loss per share computation equals basic loss per share for the three and nine months ended April 30, 2022 and 2021 because the Company had a net loss in all such periods and the impact of the assumed exercise of non-vested restricted shares, stock options, and warrants would have been anti-dilutive.

Note Payable

Note Payable	9 Months Ended
	Apr. 30, 2022
Debt Disclosure [Abstract]
NOTE PAYABLE	NOTE 12 – NOTE PAYABLE On July 9, 2021, the Company, as guarantor, Rafael Holdings Realty, Inc., a wholly-owned subsidiary of the Company (“Realty”), as pledgor, and Broad-Atlantic Associates, LLC, a wholly-owned subsidiary of Realty (the “Borrower,” and together with the Company and Realty, the “Borrower Parties”), as borrower, entered into a loan agreement (the “Loan Agreement”) with 520 Broad Street LLC, a third-party lender (the “Lender”). The Loan Agreement provides for a loan in the amount of $15 million (the “Note Payable”) from Lender to Borrower secured by (i) a first mortgage on 520 Broad Street, Newark, New Jersey 07102; and (ii) a first priority security interest in the equity of the Borrower as set forth in the Pledge and Security Agreement between Realty and Lender. The Note Payable bears interest at a rate per annum equal to seven and one-quarter percent (7.25%) and thereafter at an interest rate per annum equal to the 30-day LIBOR Rate, as published in The Wall Street Journal The Loan Agreement contains customary affirmative covenants, negative covenants and events of default, as defined in the Loan Agreement, including covenants and restrictions that, among other things, restrict the Borrower’s ability to incur liens, or transfer, lease or sell the collateral as defined in the Loan Agreement. A failure to comply with these covenants could permit the Lender to declare the Borrower’s obligations under the Loan Agreement, together with accrued interest and fees, to be immediately due and payable. The Company is in compliance with the covenants in the Loan Agreement as of April 30, 2022. Interest expense under the Note Payable amounted to $273 thousand for the three months ended April 30, 2022, and $817 thousand for the nine months ended April 30, 2022. Unamortized debt issuance costs on the Note Payable totaled $97 thousand as of April 30, 2022. Amortization of the debt discount on the Note Payable totaled approximately $125 thousand for the three months ended April 30, 2022, and $375 thousand for the nine months ended April 30, 2022.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 13 – RELATED PARTY TRANSACTIONS IDT Corporation 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 Corporation, or IDT, and payroll costs for the Company’s personnel that were paid by IDT. The Company also receives rental income from various companies under common control to IDT. The Company recorded expense of approximately $92 thousand and $91 thousand in related party services to IDT for the three months ended April 30, 2022 and 2021, respectively. The Company recorded expense of approximately $248 thousand and $247 thousand in related party services to IDT for the nine months ended April 30, 2022 and 2021, respectively, of which approximately $69 thousand and $61 thousand is included in Due to Related Parties at April 30, 2022 and 2021, respectively. IDT leases approximately 80,000 square feet of office space plus parking at 520 Broad Street, Newark, New Jersey and approximately 3,600 square feet of office space in Jerusalem, Israel. IDT paid the Company approximately $147 thousand and $461 thousand for office rent and parking during the three months ended April 30, 2022 and 2021, respectively, and approximately $1.0 million and $1.4 million for office rent and parking during the nine months ended April 30, 2022 and 2021, respectively. As of April 30, 2022 and 2021, IDT owed the Company approximately $486 thousand and $152 thousand, respectively, for office rent and parking. Cornerstone Pharmaceuticals The Company had provided Cornerstone Pharmaceuticals with administrative, finance, accounting, tax and legal services. Howard S. Jonas currently serves as the former Chairman of the Board of Cornerstone Pharmaceuticals and owns an equity interest in Cornerstone Pharmaceuticals. The Company billed Cornerstone Pharmaceuticals $0 and $120 thousand for the three months ended April 30, 2022 and 2021, respectively and $120 thousand and $360 thousand for the nine months ended April 30, 2022 and 2021, respectively. As of April 30, 2022 and July 31, 2021, Cornerstone Pharmaceuticals owed the Company $720 thousand, for which a full allowance for uncollectibility has been recorded, and $600 thousand, respectively, included in Due from Cornerstone Pharmaceuticals. Due to the Data Events, in the nine months ended April 30, 2022, the balance owed to the Company by Cornerstone Pharmaceuticals as of April 30, 2022, was fully reserved, resulting in a loss on related party receivable of $720 thousand (See Note 3). Levco Pharmaceuticals Ltd On September 8, 2020, Levco Pharmaceuticals Ltd. (“Levco”) entered into a research and development consulting agreement with Dr. Alberto Gabizon for a two-year period. Under the agreement, in exchange for the services provided, Levco will pay Dr. Gabizon $3,000 per month and issued to him common shares representing up to 5% of common stock outstanding. Additionally, Levco will provide a lab grant in the amount of $120,000 to support the project. On September 8, 2020, Levco entered into a Sponsored Research Agreement with a company for a research program related to patent applications with payments totaling $120,000 plus value-added tax. The research period is over 13 months, with two additional 12-month options to extend. Farber Partners, LLC Farber, a controlled subsidiary of the Company, reached agreements with Princeton University including to in-license certain patents and related information related to the serine hydroxymethyltransferase (SHMT) inhibitor program developed by the laboratory of Dr. Joshua D. Rabinowitz at Princeton. Farber will pay Princeton minimum annual royalty payments, in addition to percentage royalties and a percentage of any sublicense revenue. Additionally, there are development milestone payments which Farber will pay Princeton for the first three products developed by Farber, or any sublicensees or affiliates. Pharma Holdings On January 28, 2021, Pharma Holdings partially exercised the Warrant and purchased 7.3 million shares of Cornerstone Pharmaceuticals’ Series D Preferred Stock for $9.1 million, of which $0.9 million was contributed by the holder of a minority interest in Pharma Holdings. Related Party Rental Income The Company leases space to related parties (including IDT Corporation - see above) which represented approximately 60% and 62% of the Company’s total revenue for the three months ended April 30, 2022 and 2021, respectively, and 58% and 63% for the nine months ended April 30, 2022 and 2021, respectively. See Note 18 for future minimum rent payments from related parties and other tenants. Investment in Altira In May 2020, the Company acquired its first membership interest of 33.333% in Altira, a related party. In December 2020, the Company acquired an additional 33.333% membership interest in Altira, for an aggregate of a 66.666% membership interest (see Note 4). RP Finance The Company recognized approximately $0 and $96 thousand in earnings from its ownership interests of 37.5% in RP Finance for the three months ended April 30, 2022 and 2021, respectively, and a loss of $575 thousand and earnings of $288 thousand from its ownership interests of 37.5% in RP Finance for the nine months ended April 30, 2022 and 2021, respectively. As of April 30, 2022, the equity method investment in RP Finance on the Company’s balance sheet was $0. The Company recorded a loss on related party receivables of $9.375 million related to amounts owed by RP Finance (see Note 5). Howard Jonas, Chairman of the Board and Former Chief Executive Officer In December 2020, two entities, on whose Boards of Directors Howard Jonas, the Registrant’s Chairman of the Board and former Chief Executive Officer serves, each purchased 218,245 shares of Class B common stock for consideration of $5 million each. In connection with the purchases, each purchaser was granted warrants (the “Issued Warrants”) to purchase twenty percent (20%) of the shares of Class B common stock purchased by such purchaser. The Issued Warrants have an exercise price of $22.91 per share and expire on June 6, 2022. The shares and Issued Warrants were issued in reliance on the exemption from registration provided for under Section 4(a)(2) of the Securities Act of 1933, as amended. LipoMedix Pharmaceuticals, Ltd. As of the date of the Share Purchase Agreement, on November 15, 2021, there was an outstanding loan balance including principal of $400 thousand and accrued interest of $21.8 thousand owed by LipoMedix to the Company on the note from March 2021. The amount due on the loan was netted against the $3.0 million aggregate purchase price due LipoMedix, resulting in a cash payment by the Company of approximately $2.6 million in exchange for the 15,975,000 shares purchased. As a result of the share purchase, the Company’s ownership of LipoMedix increased to approximately 84% with a noncontrolling interest of approximately 16%.

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 14 – INCOME TAXES During the nine months ended April 30, 2022 and 2021, the Company recognized an income tax provision of $0 on loss before income tax of $136,943, and $0 on a loss before income tax of $12,593, respectively. The change in income tax expense in relation to the loss before income tax during the nine months ended April 30, 2022 compared to the nine months ended April 30, 2021 was primarily due to differences in the amount of taxable (loss) income in the various taxing jurisdictions and the associated valuation allowances. As of April 30, 2022 and 2021, the Company recorded valuation allowances for the total deferred tax asset balances, which included a net increase of approximately $33.3 million, primarily due to the impairment of the investment in Cornerstone Pharmaceuticals, which has been fully reserved for. The Company anticipates that its assumptions and estimates may change as a result of future guidance and interpretation from the Internal Revenue Service, the SEC, 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 balances.

Business Segment Information

Business Segment Information	9 Months Ended
	Apr. 30, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	NOTE 15 – 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 Cornerstone Pharmaceuticals and assets and expenses associated with LipoMedix, Barer, Levco, Farber, and Rafael Medical Devices are tracked separately in the Pharmaceuticals segment. The Pharmaceuticals segment is comprised of preferred and common equity interests and the Warrant to purchase equity interests in Cornerstone Pharmaceuticals, a majority equity interest in LipoMedix, Barer, Levco, Farber, and Rafael Medical Devices. 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 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, 2022 Revenues $ — $ 875 $ 875 Loss from operations (4,703 ) (154 ) (4,857 ) Loss before income taxes (5,392 ) (154 ) (5,546 ) Three Months Ended April 30, 2021 Revenues $ — $ 990 $ 990 Loss from operations (3,307 ) (172 ) (3,479 ) Loss before income taxes (2,570 ) (172 ) (2,742 ) (unaudited, in thousands) Pharmaceuticals Real Estate Total Nine Months Ended April 30, 2022 Revenues $ — $ 3,011 $ 3,011 Loss from operations (55,669 ) (394 ) (56,063 ) Loss before income taxes (136,549 ) (394 ) (136,943 ) Nine Months Ended April 30, 2021 Revenues $ — $ 3,002 $ 3,002 Loss from operations (15,743 ) (1,044 ) (16,787 ) Loss before income taxes (12,298 ) (295 ) (12,593 ) Geographic Information Revenues from tenants located outside of the United States were generated entirely from related parties 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) 2022 2021 Revenue from tenants located in Israel 9 % 7 % Nine Months Ended April 30, (unaudited) 2022 2021 Revenue from tenants located in Israel 7 % 7 % 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, 2022 Long-lived assets, net $ 40,701 $ 1,482 $ 42,183 Total assets 108,331 4,451 112,782 July 31, 2021 Long-lived assets, net $ 41,704 $ 1,534 $ 43,238 Total assets 150,847 3,208 154,055

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 16 – COMMITMENTS AND CONTINGENCIES Legal Proceedings 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, which the Company has fully paid. On December 31, 2019, an employee of the Company filed a complaint 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 is vigorously defending its interests in 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, other than noted above, 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, 2022
Stockholders' Equity Note [Abstract]
EQUITY	NOTE 17 – EQUITY Class A Common Stock and Class B Common Stock The rights of holders of Class A common stock and Class B common stock are identical except for certain voting and conversion rights and restrictions on transferability. The holders of Class A common stock and Class B common stock receive identical dividends per share when and if declared by the Company’s Board of Directors. In addition, the holders of Class A common stock and Class B common stock have identical and equal priority rights per share in liquidation. The Class A common stock and Class B common stock do not have any other contractual participation rights. The holders of Class A common stock are entitled to three votes per share and the holders of Class B common stock are entitled to one-tenth of a vote per share. Each share of Class A common stock may be converted into one share of Class B common stock, at any time, at the option of the holder. Shares of Class A common stock are subject to certain limitations on transferability that do not apply to shares of Class B common stock. On May 27, 2021, the Company filed a Registration Statement on Form S-3, whereby the Company may sell up to $250 million of Class B common stock. This Registration Statement was declared effective on June 7, 2021. On June 1, 2021, the Company filed a Registration Statement on Form S-3 and issued 48,859 shares of Class B common stock to the Altira Second Seller totaling $2.25 million to satisfy a portion of the remaining non-contingent obligation due to the Altira Second Seller. On August 19, 2021, the Company entered into a Securities Purchase Agreement (the “Institutional Purchase Agreement”) with Institutional Investors and a Securities Purchase Agreement with I9Plus, LLC, (the “Jonas Purchase Agreement”), an entity affiliated with Howard S. Jonas, the Chairman of the Board of Directors of the Company. On August 24, 2021, the Company issued 2,833,425 shares of Class B common stock (the “Institutional Shares”), par value $0.01 per share, to the Institutional Investors, at a purchase price equal to $35.00 per share, for aggregate gross proceeds of approximately $99.2 million, before deducting placement agent fees and other offering expenses. Additionally, pursuant to the Jonas Purchase Agreement, the Company issued 112,501 of Class B common stock to I9Plus, LLC, at a purchase price equal to $44.42 per share, which was equal to the closing price of a share of the Class B common stock on the New York Stock Exchange on August 19, 2021 (the “Jonas Offering”). The Jonas Offering resulted in additional aggregate gross proceeds of approximately $5.0 million. The total net proceeds from the issuance of shares was $98.0 million after deducting transaction costs of $6.2 million. On August 19, 2021, in connection with the Institutional Purchase Agreement, the Company entered into a Registration Rights Agreement with the Institutional Investors whereby the Company agreed to prepare and file a registration statement with the SEC within 30 days after the earlier of (i) the date of the closing of the Merger Agreement, and (ii) the date the Merger Agreement is terminated in accordance with its terms, for purposes of registering the resale of the Institutional Shares and any shares of Class B common stock issued as a dividend or other distribution with respect to the Institutional Shares. On January 19, 2022, the Company approved the 2021 Equity Incentive Plan (“the “2021 Plan”). The 2018 Equity Incentive Plan was suspended and replaced by the 2021 Plan, and no new grants were awarded under the 2018 Equity Incentive Plan as of January 19, 2022. Existing grants under the 2018 Equity Incentive Plan will not be impacted by the adoption of the 2021 Plan. Any of the Company’s employees, directors, consultants, and other service providers, and those of the Company’s affiliates, are eligible to participate in the 2021 Plan. In accordance with applicable tax rules, only employees (and the employees of parent or subsidiary corporations) are eligible to be granted incentive stock options. The 2021 Plan authorizes stock options (both incentive stock options or non-qualified stock options), stock appreciation rights, restricted stock, restricted stock units, and cash or other stock-based awards. The maximum number of shares of Class B common stock that may be issued under the 2021 Plan is 1,919,025 shares. During the three and nine months ended April 30, 2022, 987,542 restricted shares and 0 options were issued pursuant to the 2021 Plan, and 1,002,566 restricted shares and 237,761 options were issued pursuant to the 2021 Plan, respectively. As of April 30, 2022, there were 684,198 shares still available for issuance under the 2021 Plan. On February 15, 2022, the Company filed a Registration Statement on Form S-3 (as amended on March 2, 2022) registering the resale by institutional investors (the “Institutional Investors”) of the shares purchased by them. The Registration Statement was declared effective on March 7, 2022. Stock Options A summary of stock option activity for the Company is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at July 31, 2021 683,414 $ 11.13 3.05 $ 26,982 Granted 518,304 20.54 Cancelled / Forfeited (180,441 ) — Outstanding at April 30, 2022 1,021,277 $ 12.11 4.72 $ — Exercisable at April 30, 2022 594,607 $ 6.69 1.31 $ — At April 30, 2022, there are unrecognized compensation costs related to non-vested stock options of $4.4 million, which are expected to be recognized over the next 4.4 years. Vesting terms of options granted to two executive team members during the nine months ended April 30, 2022 were modified to extend the vesting period by one year. This was accounted for as a modification, and no incremental compensation cost was recorded as the amount is nominal. The value of option grants is calculated using the Black-Scholes option pricing model with the following assumptions for options granted during the nine months ended April 30, 2022: Risk-free interest rate 0.67% - 1.7% Expected term (in years) 6.04 - 6.11 Expected volatility 75% - 93% Expected dividend yield — % 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: Number of Non-vested Shares Weighted Average Grant Date Fair Value Outstanding at July 31, 2021 1,007,975 $ 46.77 Granted 1,078,810 5.22 Vested (80,707 ) 14.58 Cancelled / Forfeited (943,305 ) (48.50 ) Non-vested shares at April 30, 2022 1,062,773 $ 5.50 At April 30, 2022, there was $4.9 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements, which is expected to be recognized over the next 3.50 years. On November 21, 2021, Ameet Mallik resigned as Chief Executive Officer of the Company, effective January 31, 2022. In connection with his resignation, there was a material forfeiture of the former CEO’s Class B restricted shares, resulting in a reversal of approximately $19.0 million in stock-based compensation expense that was previously recorded to selling, general and administrative expense. Additionally, pursuant to the terms of his employment agreement, the Company paid $5.0 million relating to his severance payout, which is included in selling, general and administrative expense on the consolidated statement of operations for the nine months ended April 30, 2022. Three Months Ended Nine Months Ended 2022 2021 2022 2021 (unaudited, in thousands) (unaudited, in thousands) General and administrative $ 928 $ 112 $ 16,277 $ 619 Research and development 80 192 613 404 Forfeiture of RSUs within general and administrative — — (18,978 ) — Net stock-based compensation expense $ 1,008 $ 304 $ (2,088 ) $ 1,023 Securities Purchase Agreement On December 7, 2020, Rafael Holdings entered into a Securities Purchase Agreement (the “SPA”) for the sale of 567,437 shares of the Company’s Class B common stock at a price per share of $22.91 (which was the closing price for the Class B common stock on the New York Stock Exchange on December 4, 2020, the trading day immediately preceding the date of the SPA) for an aggregate purchase price of $13 million. Approximately $8.2 million of the proceeds received pursuant to the SPA were used by the Company to exercise an additional portion of the Warrant in order to maintain the Company’s relative position in Cornerstone Pharmaceuticals in light of issuances of Cornerstone Pharmaceuticals equity securities to third-party shareholders of Cornerstone Pharmaceuticals, due to warrant exercises by these shareholders. The Company is using the remaining proceeds to fund the operations of its drug development programs including its Barer Institute subsidiary, and for general corporate purposes. Under the SPA, two entities, on whose Boards of Directors Howard Jonas, the Registrant’s Chairman of the Board and former Chief Executive Officer serves, each purchased 218,245 shares of Class B common stock for consideration of $5 million each. The shares and warrants were issued in reliance on the exemption from registration provided for under Section 4(a)(2) of the Securities Act of 1933, as amended. Equity-classified Warrants In connection with the Share Purchase Agreement, each purchaser was granted warrants to purchase twenty percent (20%) of the shares of Class B common stock purchased by such purchaser. The Company issued warrants to purchase 113,487 shares of Class B common stock to the purchasers. The warrants are exercisable at a per share exercise price of $22.91, and are exercisable at any time on or after December 7, 2020 through June 6, 2022. The Company determined that these warrants are equity-classified. During fiscal 2021, IDT and Genie each exercised 43,649 warrants, resulting in a total of 87,298 shares of Class B common stock issued for proceeds of approximately $2 million. There were no exercises of warrants during the nine months ended April 30, 2022. At April 30, 2022, the Company had outstanding warrants to purchase 26,189 shares of common stock at an exercise price of $22.91 per share, all of which expire June 6, 2022. Grant to Board of Directors In January 2022, the Company granted 33,360 restricted shares of Class B common stock to non-employee directors, 18,336 of which were granted from the 2018 Equity Incentive Plan, and 15,024 of which were granted from the 2021 Plan. The restricted shares vested immediately on the grant date. The share based compensation cost was approximately $151 thousand, which was included in selling, general and administrative expense in the consolidated statement of operations and comprehensive loss. In January 2021, the Company granted a total of 12,609 restricted shares of Class B common stock to non-employee directors, all of which were granted from the 2018 Equity Incentive Plan. The restricted shares vested immediately on the grant date. The share based compensation cost was approximately $286 thousand, which was included in selling, general and administrative expense in the consolidated statement of operations and comprehensive loss.

Leases

Leases	9 Months Ended
	Apr. 30, 2022
Leases [Abstract]
LEASES	NOTE 18 – 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 was $0.7 million and $0.8 million for the three months ended April 30, 2022 and 2021, respectively, and $2.4 million and $2.2 million for the nine months ended April 30, 2022 and 2021, respectively. During the three months ended April 30, 2022 and 2021, approximately $0 and $37 thousand, respectively, of real estate property taxes are included in rental income. During the nine months ended April 30, 2022 and 2021, approximately $212 thousand and $37 thousand, respectively, of real estate property taxes are included in rental income. The future contractual minimum lease payments to be received (excluding operating expense reimbursements) by the Company as of April 30, 2022, under non-cancellable operating leases which expire on various dates through 2028 are as follows: Year ending July 31, Related Parties Other Total (in thousands) 2022 (remaining) $ 526 $ 140 $ 666 2023 2,117 592 2,709 2024 2,155 538 2,693 2025 1,659 550 2,209 2026 — 562 562 Thereafter — 1,570 1,570 Total Minimum Future Rental Income $ 6,457 $ 3,952 $ 10,409 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, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 19 – SUBSEQUENT EVENTS Non-refundable Deposit on Contract of Sale On February 18, 2022, Broad Atlantic Associate LLC (the “Seller”), subsidiary of the Company, entered into a Contract of Sale with 520 Broad Street Propco LLC (the “Purchaser”) for the sale of the building owned by the Seller located at 520 Broad Street in Newark, New Jersey and an associated 800-car public garage (the “Property”) for a purchase price of $49.4 million (the “Contract of Sale”). The Property serves as the Company’s headquarters and has several tenants. In connection with the executed Contract of Sale, the Purchaser paid $1,000,000 into escrow as a deposit (“Initial Deposit”), of which $375,000 became nonrefundable on April 4, 2022. On May 2, 2022, the Purchaser deposited an additional $1,500,000 into escrow. On May 3, 2022, the remaining $2,125,000 of the deposit held in escrow became non-refundable. The deposit will be recorded as a deferred liability as of the date of deposit. As of April 30, 2022, the Property does not meet the criteria to be classified as held for sale in accordance with the guidance at ASC 360, Property, Plant, and Equipment Furthermore, if the Purchaser extends the closing date of the sale, in addition to paying a supplemental deposit of $750,000 into escrow, the Purchaser would be required to pay to the Company as additional consideration, $203,125 (consisting of a $112,500 extension fee payable by the Company to the holder of the mortgage and 30 days of interest on the mortgage in the amount of $90,625). If the sale were not to be consummated for any reason, the Company would retain the $203,125 payment. If the transaction were to close, the parties would determine the actual extra costs and expenses incurred by the Company with respect to the mortgage as a result of the extension of the closing date, and if the actual costs were to exceed $203,125, the Purchaser would be required to pay the excess to the Company and if such costs were be less than $203,125, the Purchaser would receive a credit in the amount of the shortfall. Rafael Pharmaceuticals Name Change On May 11, 2022, the Board of Directors of Rafael Pharmaceuticals approved a name change from “Rafael Pharmaceuticals, Inc.” to “Cornerstone Pharmaceuticals, Inc.” New Employment Agreement On June 13, 2022, the Company entered into an employment agreement with Howard S. Jonas (who serves as the Chairman of the Board and Executive Chairman of the Company) (the “Employment Agreement”), which provides, among other things: (i) a term of five years (subject to extension unless either party elects not to renew); (ii) an annual base salary of $260,000, of which $250,000 is payable through the issuance of restricted shares of the Company’s Class B common stock (“Class B Stock”) with the value of the shares based upon the volume weighted closing price of the Class B Stock on the NYSE on the thirty days ending with the NYSE trading day immediately preceding the issuance to be issued within thirty days of the date of the Employment Agreement (the “Start Date”) and each annual anniversary, and such shares vesting, contingent on Mr. Jonas’ remaining in continuous service to the Company, in substantially equal amounts on the three, six, nine and twelve month anniversaries of the Start Date or annual anniversary; and (iii) a grant of restricted shares of Class B stock with a value of $600,000, issuable within 30 days with the value of the shares based upon the volume weighted closing price of the Class B Stock on the NYSE on the thirty days ending with the NYSE trading day immediately preceding the issuance and such shares, and vesting, contingent on Mr. Jonas’ remaining in continuous service to the Company, in substantially equal amounts on the first and second annual anniversaries of the Start Date.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with 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 ended in the calendar year indicated (e.g., fiscal 2021 refers to the fiscal year ended July 31, 2021). Operating results for the three and nine months ended April 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2022. The balance sheet at July 31, 2021 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 fiscal 2021, or the 2021 Form 10-K, as filed with the U.S. Securities and Exchange Commission (the “SEC”).
Reclassifications	Reclassifications During the third quarter of fiscal 2022, the Company determined that it would revise the presentation of interest expense and interest income on its Consolidated Statements of Operations and Comprehensive Loss. The revised presentation is comprised of a reclassification of interest income out of interest expense, net and presentation of the two figures as separate line items on the Consolidated Statements of Operations and Comprehensive Loss for all periods presented.
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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates.
Liquidity	Liquidity As of April 30, 2022, the Company had cash and cash equivalents of $29.0 million, investments in corporate bonds valued at $30.4 million, and an investment in hedge funds valued at $4.7 million. The Company expects the balance of cash and cash equivalents, investments in corporate bonds, and investment in hedge funds to be sufficient to meet our obligations for the next 12 months from the issuance of these consolidated financial statements.
Risks and Uncertainties - COVID-19, War in Ukraine	Risks and Uncertainties - COVID-19, War in Ukraine In late 2019, a novel strain of coronavirus, SARS-CoV, which causes COVID-19, was identified and has proved to be highly contagious. It has since spread extensively throughout the world, including the United States, and was declared a global pandemic by the World Health Organization in March 2020. The Company actively monitors the outbreak, including the spread of new variants of interest, and its potential impact on the Company’s operations and those of the Company’s holdings. Even with growing availability of testing and vaccines and the relaxation of public health measures that were implemented to limit the spread of the pandemic, there continues to be uncertainty around the COVID-19 pandemic and its impact. The Company had implemented a number of measures to protect the health and safety of the Company’s workforce including a voluntary work-from-home policy for the Company’s workforce who can perform their jobs from home as well as restrictions on discretionary business travel. Most of our employees have returned to working from the office on a part-time basis. The full impact of the COVID-19 pandemic on the Company will depend on factors such as the length of time of the pandemic; the responses of federal, state and local governments; the impact of future variants that may emerge; vaccination rates among the population; the efficacy of the COVID-19 vaccines; the longer-term impact of the pandemic on the economy and consumer behavior; and the effect on our employees, vendors, and other partners. The short and long-term implications of Russia’s invasion of Ukraine are difficult to predict at this time. The imposition of sanctions and counter sanctions may have an adverse effect on the economic markets generally and could impact our business and the companies in which we have investments, financial condition, and results of operations. Because of the highly uncertain and dynamic nature of these events, it is not currently possible to estimate the impact of the Russian – Ukraine war on our business and the companies in which we have investments.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers The Company routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited. For the three and nine months ended April 30, 2022, related parties represented 60% and 58% of the Company’s revenue, respectively, and as of April 30, 2022, two customers, one of which is a related party, represented 70% and 18% of the Company’s accounts receivable balance, respectively. For the three and nine months ended April 30, 2021, related parties represented 62% and 63%, respectively, of the Company’s revenue, and as of April 30, 2021, two customers, one of which is a related party, represented 41% and 36% of the Company’s accounts receivable balance, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Restricted Cash	Restricted Cash Restricted cash represented escrow funds held in bank accounts owned by the Company to be used to pay the severance due the chief executive officer for termination without cause, pursuant to his employment agreement. The Company did not have the right to use this cash balance for any other purpose. During February 2022, the Company paid approximately $5 million, from the restricted cash balance, in severance pay to Ameet Mallik, former CEO, in accordance with his separation and release agreement.
Reserve for Receivables	Reserve for Receivables The Company evaluates accounts receivable, loans, interest and fees receivable for impairment under Accounting Standards Codification (“ASC”) 310, Receivables
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 include 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 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 the accompanying consolidated statements of operations and comprehensive loss, and a new basis in the investment is established.
Investments - Hedge Funds	Investments - Hedge Funds The Company accounts for its investments in hedge funds in accordance with ASC 321 Investments – Equity Securities. Unrealized gains and losses resulting from the change in fair value of these securities is included in unrealized (loss) gain on investments – Hedge Funds in the Consolidated Statements of Operations.
Corporate Bonds	Corporate Bonds The Company’s marketable securities are considered to be available-for-sale as defined under ASC 320 “Investments - Debt and Equity Securities,” and are recorded at fair value. Unrealized gains or losses are included in accumulated other comprehensive income. Realized gains or losses are released from accumulated other comprehensive income and into earnings on the Consolidated Statements of Operations and Comprehensive Loss.
Variable Interest Entities	Variable Interest Entities In accordance with 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
Revenue Recognition	Revenue Recognition The Company applies the five-step approach as described in ASC 606, Revenue from Contracts with Customers 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	Research and Development Costs Research and development costs and expenses incurred by consolidated entities 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.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation using the provisions of ASC 718, Stock Based Compensation
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

Description of Business (Tables

Description of Business (Tables)	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Schedule of entities majority-owned subsidiaries	Company Country of Incorporation Percentage Broad Atlantic Associates, LLC United States – Delaware 100 % IDT R.E. Holdings Ltd. Israel 100 % Rafael Holdings Realty, Inc. United States – Delaware 100 % Barer Institute, Inc. United States – Delaware 100 % The Barer Institute, LLC United States – Delaware 100 % Hillview Avenue Realty, JV United States – Delaware 100 % Hillview Avenue Realty, LLC United States – Delaware 100 % Rafael Medical Devices, LLC United States – Delaware 100 % Levco Pharmaceuticals Ltd. Israel 95 % Farber Partners, LLC United States – Delaware 93 % Pharma Holdings, LLC United States – Delaware 90 % LipoMedix Pharmaceuticals Ltd. Israel 84 % Altira Capital & Consulting, LLC United States – Delaware 67 % CS Pharma Holdings, LLC United States – Delaware 45 %* * 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.

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	9 Months Ended
	Apr. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of fair value for available-for-sale securities	April 30, 2022 Amortized Gross Gross Fair value (unaudited, in thousands) Available-for-sale securities: Corporate bonds $ 30,455 $ 5 $ (53 ) $ 30,407 Total available-for-sale securities $ 30,455 $ 5 $ (53 ) $ 30,407

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy	April 30, 2022 Level 1 Level 2 Level 3 Total (unaudited, in thousands) Assets: Available-for-sale securities $ — $ 30,407 $ — $ 30,407 Hedge funds — — 4,684 4,684 Total $ — $ 30,407 $ 4,684 $ 35,091 July 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Assets: Hedge funds $ — $ — $ 5,268 $ 5,268 Total $ — $ — $ 5,268 $ 5,268
Schedule of changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Three Months Ended Nine Months Ended 2022 2021 2022 2021 (unaudited, in thousands) (unaudited, in thousands) Balance, beginning of period $ 5,025 $ 8,943 $ 5,268 $ 7,510 Liquidation of Hedge Fund Investments — — — (2,000 ) Total (loss) gain included in earnings (341 ) 738 (584 ) 4,171 Balance, end of period $ 4,684 $ 9,681 $ 4,684 $ 9,681

Trade Accounts Receivable (Tabl

Trade Accounts Receivable (Tables)	9 Months Ended
	Apr. 30, 2022
Receivables [Abstract]
Schedule of trade accounts receivable	April 30, July 31, (unaudited, in thousands) (in thousands) Trade Accounts Receivable $ 207 $ 315 Accounts Receivable - Related Party 610 113 Less Allowance for Doubtful Accounts (186 ) (193 ) Trade Accounts Receivable, net $ 631 $ 235

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	April 30, July 31, (unaudited, in thousands) (in thousands) Building and Improvements $ 47,926 $ 47,841 Land 10,412 10,412 Furniture and Fixtures 1,145 1,145 Other 273 271 59,756 59,669 Less Accumulated Depreciation (17,573 ) (16,431 ) Total $ 42,183 $ 43,238

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Schedule of dilutive loss per share	Three Months Ended Nine Months Ended 2022 2021 2022 2021 Shares issuable upon exercise of stock options 1,021,277 689,210 1,021,277 689,210 Shares issuable upon vesting of restricted stock 1,062,773 95,728 1,062,773 95,728 Shares issuable upon exercise of warrants to purchase Class B common stock 26,189 26,189 26,189 26,189 2,110,239 811,127 2,110,239 811,127

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Apr. 30, 2022
Segment Reporting [Abstract]
Schedule of operating results for the business segments	(unaudited, in thousands) Pharmaceuticals Real Estate Total Three Months Ended April 30, 2022 Revenues $ — $ 875 $ 875 Loss from operations (4,703 ) (154 ) (4,857 ) Loss before income taxes (5,392 ) (154 ) (5,546 ) Three Months Ended April 30, 2021 Revenues $ — $ 990 $ 990 Loss from operations (3,307 ) (172 ) (3,479 ) Loss before income taxes (2,570 ) (172 ) (2,742 ) (unaudited, in thousands) Pharmaceuticals Real Estate Total Nine Months Ended April 30, 2022 Revenues $ — $ 3,011 $ 3,011 Loss from operations (55,669 ) (394 ) (56,063 ) Loss before income taxes (136,549 ) (394 ) (136,943 ) Nine Months Ended April 30, 2021 Revenues $ — $ 3,002 $ 3,002 Loss from operations (15,743 ) (1,044 ) (16,787 ) Loss before income taxes (12,298 ) (295 ) (12,593 )
Schedule of revenues from these non-United States customers as a percentage of total revenues	Three Months Ended April 30, (unaudited) 2022 2021 Revenue from tenants located in Israel 9 % 7 % Nine Months Ended April 30, (unaudited) 2022 2021 Revenue from tenants located in Israel 7 % 7 %
Schedule of net long-lived assets	(unaudited, in thousands) United States Israel Total April 30, 2022 Long-lived assets, net $ 40,701 $ 1,482 $ 42,183 Total assets 108,331 4,451 112,782 July 31, 2021 Long-lived assets, net $ 41,704 $ 1,534 $ 43,238 Total assets 150,847 3,208 154,055

Equity (Tables)

Equity (Tables)	9 Months Ended
	Apr. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of stock option activity	Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at July 31, 2021 683,414 $ 11.13 3.05 $ 26,982 Granted 518,304 20.54 Cancelled / Forfeited (180,441 ) — Outstanding at April 30, 2022 1,021,277 $ 12.11 4.72 $ — Exercisable at April 30, 2022 594,607 $ 6.69 1.31 $ —
Schedule of Black-Scholes option pricing model	Risk-free interest rate 0.67% - 1.7% Expected term (in years) 6.04 - 6.11 Expected volatility 75% - 93% Expected dividend yield — %
Schedule of grants of restricted shares of Class B common stock	Number of Non-vested Shares Weighted Average Grant Date Fair Value Outstanding at July 31, 2021 1,007,975 $ 46.77 Granted 1,078,810 5.22 Vested (80,707 ) 14.58 Cancelled / Forfeited (943,305 ) (48.50 ) Non-vested shares at April 30, 2022 1,062,773 $ 5.50
Schedule of general and administrative expense	Three Months Ended Nine Months Ended 2022 2021 2022 2021 (unaudited, in thousands) (unaudited, in thousands) General and administrative $ 928 $ 112 $ 16,277 $ 619 Research and development 80 192 613 404 Forfeiture of RSUs within general and administrative — — (18,978 ) — Net stock-based compensation expense $ 1,008 $ 304 $ (2,088 ) $ 1,023

Leases (Tables)

Leases (Tables)	9 Months Ended
	Apr. 30, 2022
Leases [Abstract]
Schedule of future contractual minimum lease payments	Year ending July 31, Related Parties Other Total (in thousands) 2022 (remaining) $ 526 $ 140 $ 666 2023 2,117 592 2,709 2024 2,155 538 2,693 2025 1,659 550 2,209 2026 — 562 562 Thereafter — 1,570 1,570 Total Minimum Future Rental Income $ 6,457 $ 3,952 $ 10,409

Description of Business (Detail

Description of Business (Details)	9 Months Ended
	Apr. 30, 2022
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, 2022
Broad Atlantic Associates, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
IDT R.E. Holdings Ltd. [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	Israel
Percentage Owned	100.00%
Rafael Holdings Realty, Inc. [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
Barer Institute, Inc. [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
The Barer Institute, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
Hillview Avenue Realty, JV [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
Hillview Avenue Realty, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
Rafael Medical Devices, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100.00%
Levco Pharmaceuticals Ltd. [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	Israel
Percentage Owned	95.00%
Farber Partners, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	93.00%
Pharma Holdings, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	90.00%
LipoMedix Pharmaceuticals Ltd. [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	Israel
Percentage Owned	84.00%
Altira Capital & Consulting, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	67.00%
CS Pharma Holdings, LLC [Member]
Variable Interest Entity [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	45.00%	[1]
[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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Summary of Significant Accounting Policies (Details) [Line Items]
Cash and cash equivalents (in Dollars)	$ 29		$ 29
Corporate bonds investment (in Dollars)			30.4
Hedge fund investment (in Dollars)	$ 4.7		$ 4.7
Debt due	12 months		12 months
Concentration risk, percentage	60.00%		58.00%
Restricted cash (in Dollars)	$ 5		$ 5
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk, percentage		62.00%		63.00%
Two Customers [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk, percentage		41.00%		36.00%
Two Customers [Member] | Revenue Net [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk, percentage	70.00%		18.00%

Investment in Cornerstone Pha_2

Investment in Cornerstone Pharmaceuticals (Details) - USD ($) shares in Millions, $ in Millions	Oct. 01, 2021	Oct. 01, 2021	Jan. 31, 2019	Sep. 24, 2021	Jan. 28, 2021	Apr. 30, 2022	Apr. 30, 2022
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary							50.00%
Principal amount			$ 10
Total impairment loss							$ 17.3
Noncontrolling interests						$ 79.1	79.1
Interest amount							$ 10.4
Rafael Pharmaceuticals [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary							90.00%
Fully diluted						10.00%	10.00%
Percentage of outstanding capital stock							51.00%
Percentage of outstanding capital stock on fully diluted basis							41.00%
Impairment charge of approximately							$ 79.1
CS Pharma Holdings, LLC [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in subsidiary and holds percentage of interest							50.00%
Indirect interest in assets held, percentage							45.00%
Fully diluted						10.00%	10.00%
Convertible promissory note, rate of interest			3.50%
Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary							90.00%
Exercise price of warrants or rights, description							The Company currently owns 51% of the issued and outstanding equity in Cornerstone Pharmaceuticals. Approximately 8% of the issued and outstanding equity is owned by the Company’s subsidiary CS Pharma and 43% is held by the Company’s subsidiary Pharma Holdings. The Company’s subsidiary Pharma Holdings holds the Warrant, which is non-dilutable and provides for the Company to increase its (via Pharma Holdings and CS Pharma and inclusive of the interests held by the other owners of those entities) total ownership to 56%. Based on the current shares issued and outstanding of Cornerstone Pharmaceuticals as of July 31, 2021, the Company, and the Company’s affiliates, would need to pay approximately $13.5 million to exercise the Warrant in full to 56%. On an as-converted fully diluted basis (for all convertible securities of Cornerstone Pharmaceuticals outstanding), the Company and the Company’s affiliates would need to pay approximately $118 million to exercise the Warrant in full (including to offset the impact of additional issuances of Cornerstone Pharmaceuticals equity under the Line of Credit, as defined below). The Instrument holds 10% of the interest in Pharma Holdings and would need to contribute 10% of any cash necessary to exercise any portion of the Warrant.
Exercise of warrants purchases, description					On January 28, 2021, Pharma Holdings partially exercised the Warrant to maintain the 51% ownership percentage and purchased 7.3 million shares of Cornerstone Pharmaceuticals’ Series D Preferred Stock for $9.1 million, of which $0.9 million was contributed by the holder of a minority interest in Pharma Holdings.
Aggregate amount				$ 25
Agreement accrues interest per annum		9.00%
Reserve amount							$ 25
Other amounts						$ 0.5	2
Related party interest receivable						$ 0.5	1.3
CS Pharma and Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Interest amount							$ 6.9
First Advance [Member] | Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Advance amount of debtor				$ 1.9
Second Advance [Member] | Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Advance amount of debtor	$ 23.1
Howard Jonas [Member] | Rafael Pharmaceuticals [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Fully diluted						10.00%	10.00%
Series D Convertible Preferred Stock [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
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 Cornerstone Pharmaceuticals, prior to any dividends to any other class of capital stock of Cornerstone Pharmaceuticals. In the event of any liquidation, dissolution or winding up Cornerstone Pharmaceuticals, or in the event of any deemed liquidation, proceeds from such liquidation, dissolution or 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.
Series D Convertible Preferred Stock [Member] | CS Pharma Holdings, LLC [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Exercise price of warrants or rights, description							Pharma Holdings holds 44.0 million shares of Cornerstone Pharmaceuticals Series D Convertible Preferred Stock and a warrant to increase the combined ownership of Pharma Holdings and CS Pharma to up to 56% of the fully diluted equity interests in Cornerstone Pharmaceuticals (the “Warrant”). The exercise price of the Warrant is the lower of 70% of the price sold in an equity financing, or $1.25 per share, subject to certain adjustments.
Purchase of exercise the warrant, shares (in Shares)							16.7

Investment in Altira (Details)

Investment in Altira (Details) - USD ($)	Dec. 07, 2020	May 13, 2020	Apr. 30, 2021	Dec. 31, 2020	May 31, 2020	Apr. 30, 2022	Dec. 31, 2021	Jul. 31, 2020
Investment in Altira (Details) [Line Items]
Percentage of membership interest						33.333%
Cost of investments						$ 7,000,000
Impairment charges			$ 7,000,000
Issuance of shares (in Shares)					4,000,000
Membership interest				33.00%
Business Combination [Member]
Investment in Altira (Details) [Line Items]
Investment in acquired description	the Company purchased an additional 33.333% of membership interests in Altira, pursuant to a Membership Interest Purchase Agreement (the “Second Altira Agreement”) between the Company and another Altira member, (the “Second Seller”). With this transaction, the Company now owns a right to an aggregate 66.666% of the membership interests in Altira. Pursuant to the Second Altira Agreement, on December 7, 2020, the Second Seller sold his 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 an additional 1% royalty on Net Sales (as defined in the Royalty Agreement between Altira and Cornerstone Pharmaceuticals) on sales of certain Cornerstone Pharmaceuticals’ products. The consideration for the purchase of the Membership Interest consists of 1) $1,000,000 that was payable monthly in four equal monthly installments of $250,000 each, commencing on January 4, 2021; 2) $3,000,000 payable on January 4, 2021; 3) $3,000,000 due within fifteen (15) days of the earlier to occur of either the completion of Cornerstone Pharmaceuticals’ Phase III pivotal trial (AVENGER 500®) of CPI-613® (devimistat) or May 31, 2021 and not before January 4, 2021; and 4) $3,000,000 which is due within one-hundred and twenty (120) days from the date that Cornerstone 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 in the Purchase Agreement.
Altira [Member]
Investment in Altira (Details) [Line Items]
Percentage of membership interest						33.333%
Cost of investments						$ 4,000,000
Contingent consideration						$ 6,000,000
Impairment charge								$ 4,000,000
Purchase Agreement [Member]
Investment in Altira (Details) [Line Items]
Purchase agreement, description		the First 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 Royalty Agreement between Altira and Cornerstone Pharmaceuticals) on sales of certain Cornerstone Pharmaceuticals’ products. The purchase consideration for the purchase of the membership interest consisted of 1) $1,000,000 that was payable monthly in four equal monthly installments of $250,000 each; 2) $3,000,000 payable on January 3, 2021; 3) $3,000,000 due within fifteen (15) days of interim data analysis in Rafael Pharmaceutical’s Phase 3 pivotal trial (AVENGER 500®) of CPI-613® (devimistat); and 4) $3,000,000 which is due within one-hundred and twenty (120) days from the date that Cornerstone 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 in the Purchase Agreement. The post-closing payments are to be made to the First Seller, 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.
Class B Common Stock [Member] | Purchase Agreement [Member]
Investment in Altira (Details) [Line Items]
Issuance of shares (in Shares)							129,620
Class B Common Stock [Member] | First Seller [Member]
Investment in Altira (Details) [Line Items]
Issuance of value							$ 3,500,000
Class B Common Stock [Member] | Altira Second Seller [Member]
Investment in Altira (Details) [Line Items]
Issuance of shares (in Shares)							150,703
Issuance of value							$ 5,000,000
Cash payments							$ 2,000,000

Investment in RP Finance, LLC (

Investment in RP Finance, LLC (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Aug. 31, 2020	Apr. 30, 2022	Oct. 31, 2021	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021	Sep. 30, 2021	Jul. 31, 2021	Jun. 30, 2021	Nov. 30, 2020	Feb. 03, 2020
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds							$ 5,000	$ 10,000	$ 10,000	$ 5,000
Income from interest					$ 0	$ 96
Line of credit facility, description	In August 2020, Cornerstone Pharmaceuticals called for a $5 million draw on the line of credit facility and the facility was funded by RP Finance LLC in the amount of $5 million, paid in parts in August and September 2020.
Cumulative funds description					As of April 30, 2022, the Company has funded a cumulative total of $9.375 million in accordance with its 37.5% ownership interests in RP Finance.
Rafael Pharmaceuticals [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds							$ 5,000			$ 5,000
Percentage of issued and outstanding shares		12.00%			12.00%
Related party receivable					$ 9,375
RP Finance [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Income from interest					$ 575	$ 288
Percentage of ownership interest		37.50%		37.50%	37.50%	37.50%
Equity loss			$ 575
Equity method investment		$ 0			$ 0
Line of Credit Agreement [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Amount of revolving commitment to funds											$ 50,000,000
Description line of credit facility					The Company owns 37.5% of the equity interests in RP Finance and is required to fund 37.5% of funding requests from Cornerstone 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 Cornerstone Pharmaceuticals under the Line of Credit Agreement. The remaining 25% equity interests in RP Finance are owned by other shareholders of Cornerstone Pharmaceuticals.

Investment in LipoMedix Pharm_2

Investment in LipoMedix Pharmaceuticals Ltd. (Details) - USD ($)

Nov. 15, 2021

Sep. 01, 2021

Mar. 27, 2020

Oct. 31, 2021

Mar. 31, 2021

May 31, 2020

Mar. 31, 2020

Jan. 31, 2020

Jan. 21, 2020

Nov. 30, 2019

Apr. 30, 2022

Jan. 21, 2021

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Issued and outstanding ordinary shares, percentage

84.00%

Bridge finance

$ 75,000

$ 125,000

$ 100,000

Maturity date

April 20, 2020

May 3, 2020

May 3, 2020

Ordinary shares (in Shares)

4,000,000

Purchase price

$ 0.1878

$ 1,000,000

Total principal amount

$ 300,000

Interest, for an aggregate amount

$ 693,263

$ 306,737

Bridge financing amounted

$ 20,094

Interest rate increase

15.00%

15.00%

Ordinary shares (in Shares)

15,975,000

Aggregate purchase price

$ 3,000,000

Noncontrolling interest

$ 8,000

Lipomedix Pharmaceuticals Ltd. [Member]

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Maturity date

September 1, 2021

Principal amount

$ 400,000

Interest rate

8.00%

Fund amount

$ 400,000

Ordinary shares (in Shares)

15,975,000

Aggregate purchase price

$ 3,000,000

Principal amount outstanding

$ 400,000

Accrued interest

21,800

Cash payment

$ 2,600,000

Minimum [Member]

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Percentage of noncontrolling interest

16.00%

Minimum [Member] | Lipomedix Pharmaceuticals Ltd. [Member]

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Ownership percentage

58.00%

Maximum [Member]

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Percentage of noncontrolling interest

84.00%

Maximum [Member] | Lipomedix Pharmaceuticals Ltd. [Member]

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Ownership percentage

68.00%

Warrant [Member]

Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]

Purchase price

$ 0.1878

Ordinary shares (in Shares)

15,975,000

Investments in Marketable Sec_3

Investments in Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2022	Apr. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Unrealized losses out of accumulated other comprehensive loss	$ 2	$ 2

Investments in Marketable Sec_4

Investments in Marketable Securities (Details) - Schedule of fair value for available-for-sale securities $ in Thousands	9 Months Ended
	Apr. 30, 2022USD ($)
Corporate bonds [Member]
Available-for-sale securities:
Amortized cost	$ 30,455
Gross unrealized gains	5
Gross unrealized (losses)	(53)
Fair value	30,407
Total available-for-sale securities [Member]
Available-for-sale securities:
Amortized cost	30,455
Gross unrealized gains	5
Gross unrealized (losses)	(53)
Fair value	$ 30,407

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Investment hedge funds					$ 2,000,000
Investments in securities	$ 500,000		$ 500,000
Impairment loss	$ 0	$ 0	$ 0	$ 700,000

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities	$ 30,407
Hedge funds	4,684	$ 5,268
Total	35,091	5,268
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities
Hedge funds
Total
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities	30,407
Hedge funds
Total	30,407
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy [Line Items]
Available-for-sale securities
Hedge funds	4,684	5,268
Total	$ 4,684	$ 5,268

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of period	$ 5,025	$ 8,943	$ 5,268	$ 7,510
Liquidation of Hedge Fund Investments				(2,000)
Total (loss) gain included in earnings	(341)	738	(584)	4,171
Balance, end of period	$ 4,684	$ 9,681	$ 4,684	$ 9,681

Trade Accounts Receivable (Deta

Trade Accounts Receivable (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
Receivables [Abstract]
Prepaid expenses and other current assets	$ 114	$ 111
Other assets	$ 1,300	$ 1,500

Trade Accounts Receivable (De_2

Trade Accounts Receivable (Details) - Schedule of trade accounts receivable - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
Schedule of trade accounts receivable [Abstract]
Trade Accounts Receivable	$ 207	$ 315
Accounts Receivable - Related Party	610	113
Less Allowance for Doubtful Accounts	(186)	(193)
Trade Accounts Receivable, net	$ 631	$ 235

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Property and Equipment [Member]
Property and Equipment (Details) [Line Items]
Depreciation expense	$ 0.4	$ 0.2	$ 1.1	$ 1.1

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - Property and Equipment [Member] - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
Property, Plant and Equipment [Line Items]
Building and Improvements	$ 47,926	$ 47,841
Land	10,412	10,412
Furniture and Fixtures	1,145	1,145
Other	273	271
Property and equipment, gross	59,756	59,669
Less Accumulated Depreciation	(17,573)	(16,431)
Total	$ 42,183	$ 43,238

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of dilutive loss per share - shares	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Schedule of dilutive loss per share [Abstract]
Shares issuable upon exercise of stock options	1,021,277	689,210	1,021,277	689,210
Shares issuable upon vesting of restricted stock	1,062,773	95,728	1,062,773	95,728
Shares issuable upon exercise of warrants to purchase Class B common stock	26,189	26,189	26,189	26,189
Total	2,110,239	811,127	2,110,239	811,127

Note Payable (Details)

Note Payable (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2022	Apr. 30, 2022	Jul. 09, 2021
Debt Disclosure [Abstract]
Note payable			$ 15,000
Note payable bears interest rate, description		The Note Payable bears interest at a rate per annum equal to seven and one-quarter percent (7.25%) and thereafter at an interest rate per annum equal to the 30-day LIBOR Rate, as published in The Wall Street Journal, plus 6.90% per annum, but in no event less than seven and one-quarter percent (7.25%) per annum. The Note Payable is due on August 1, 2022, subject to the Company’s option to extend the maturity date until August 1, 2023 for a fee equal to three-quarters of one percent (0.75%) of the Note Payable.
Interest expense	$ 273	$ 817
Unamortized debt issuance costs	97	97
Amortization of the debt discount	$ 125	$ 375

Related Party Transactions (Det

Related Party Transactions (Details)	Sep. 08, 2020USD ($)	Nov. 15, 2021USD ($)shares	Jan. 28, 2021	Dec. 31, 2020USD ($)$ / sharesshares	May 31, 2020	Apr. 30, 2022USD ($)m²	Apr. 30, 2021USD ($)	Apr. 30, 2022USD ($)m²	Apr. 30, 2021USD ($)	Jul. 31, 2021USD ($)
Related Party Transactions (Details) [Line Items]
Related party expenses						$ 92,000	$ 91,000	$ 248,000	$ 247,000
Due to related parties						$ 69,000	61,000	$ 69,000	61,000
Area of land (in Square Meters) | m²						3,600		3,600
Rent and parking expenses						$ 147,000	$ 461,000	$ 1,000,000	$ 1,400,000
Related party receivables						$ 720,000		$ 720,000
Services charges	$ 3,000
Percentage of shares outstanding	5.00%
Payments to grant amount	$ 120,000
Related party transaction, description	The research period is over 13 months, with two additional 12-month options to extend.
Description of pharma holdings			On January 28, 2021, Pharma Holdings partially exercised the Warrant and purchased 7.3 million shares of Cornerstone Pharmaceuticals’ Series D Preferred Stock for $9.1 million, of which $0.9 million was contributed by the holder of a minority interest in Pharma Holdings.
Percentage of total revenue						60.00%	62.00%	58.00%	63.00%
Acquired an additional membership interest				33.333%	33.333%
Aggregate of a membership interest				66.666%
RP finance LLC, description								The Company recognized approximately $0 and $96 thousand in earnings from its ownership interests of 37.5% in RP Finance for the three months ended April 30, 2022 and 2021, respectively, and a loss of $575 thousand and earnings of $288 thousand from its ownership interests of 37.5% in RP Finance for the nine months ended April 30, 2022 and 2021, respectively. As of April 30, 2022, the equity method investment in RP Finance on the Company’s balance sheet was $0. The Company recorded a loss on related party receivables of $9.375 million related to amounts owed by RP Finance (see Note 5).
Common stock for consideration								$ (6,228,000)
Warrants percentage				20.00%
Exercise price (in Dollars per share) | $ / shares				$ 22.91
Ownership percentage		84.00%
Securities Purchase Agreement [Member]
Related Party Transactions (Details) [Line Items]
Shares purchased (in Shares) | shares				218,245
Common stock for consideration				$ 5,000,000
IDT [Member]
Related Party Transactions (Details) [Line Items]
Rent and parking expenses								486,000	$ 152,000
Rafael Pharmaceuticals [Member]
Related Party Transactions (Details) [Line Items]
Due from related parties						$ 0	$ 120,000	120,000	$ 360,000
Due from owed amount						$ 720,000		$ 720,000		$ 600,000
Levco Pharmaceuticals Ltd [Member]
Related Party Transactions (Details) [Line Items]
Payments to grant amount	$ 120,000
LipoMedix Pharmaceuticals, Ltd. [Member]
Related Party Transactions (Details) [Line Items]
Due from owed amount		$ 3,000,000
Outstanding loan balance		400,000
Accrued interest		21,800
Cash payment		$ 2,600,000
Purchased shares (in Shares) | shares		15,975,000
Noncontrolling interest percentage		16.00%
IDT [Member]
Related Party Transactions (Details) [Line Items]
Area of land (in Square Meters) | m²						80,000		80,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Recognized income tax provision	$ 0	$ 136,943
Loss before income tax	0	12,593
Deferred tax asset valuation allowances	$ 33,300,000	$ 33,300,000

Business Segment Information (D

Business Segment Information (Details)	9 Months Ended
	Apr. 30, 2022
Segment Reporting [Abstract]
Number of operating segments	2
Real estate segment, description	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 and a portion of an office building in Israel.

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, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 875	$ 990	$ 3,011	$ 3,002
Loss from operations	(4,857)	(3,479)	(56,063)	(16,787)
Loss before income taxes	(5,546)	(2,742)	(136,943)	(12,593)
Pharmaceuticals [Member]
Segment Reporting Information [Line Items]
Revenues
Loss from operations	(4,703)	(3,307)	(55,669)	(15,743)
Loss before income taxes	(5,392)	(2,570)	(136,549)	(12,298)
Real Estate [Member]
Segment Reporting Information [Line Items]
Revenues	875	990	3,011	3,002
Loss from operations	(154)	(172)	(394)	(1,044)
Loss before income taxes	$ (154)	$ (172)	$ (394)	$ (295)

Business Segment Information _3

Business Segment Information (Details) - Schedule of revenues from these non-United States customers as a percentage of total revenues	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Segment Reporting Information [Line Items]
Revenue from tenants located in Israel	9.00%	7.00%	7.00%	7.00%

Business Segment Information _4

Business Segment Information (Details) - Schedule of net long-lived assets - USD ($) $ in Thousands	Apr. 30, 2022	Jul. 31, 2021
Segment Reporting Information [Line Items]
Long-lived assets, net	$ 42,183	$ 43,238
Total assets	112,782	154,055
United States [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	40,701	41,704
Total assets	108,331	150,847
Israel [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	1,482	1,534
Total assets	$ 4,451	$ 3,208

Commitments and Contingencies (

Commitments and Contingencies (Details)	9 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Settlement agreement, description	As part of the Settlement Agreement, the Company agreed to pay a penalty of $127,294 in eight quarterly installment payments through November 2021, which the Company has fully paid.

Equity (Details)

Equity (Details) - USD ($)	Jan. 19, 2022	Nov. 21, 2021	Jun. 01, 2021	Dec. 07, 2020	Jan. 31, 2022	Aug. 24, 2021	Jan. 31, 2021	Apr. 30, 2022	Apr. 30, 2022	Jul. 31, 2021	May 27, 2021
Equity (Details) [Line Items]
Restricted stock units, description						On August 24, 2021, the Company issued 2,833,425 shares of Class B common stock (the “Institutional Shares”), par value $0.01 per share, to the Institutional Investors, at a purchase price equal to $35.00 per share, for aggregate gross proceeds of approximately $99.2 million, before deducting placement agent fees and other offering expenses.
Securities Purchase Agreement [Member]
Equity (Details) [Line Items]
Proceeds from issuance of warrants (in Dollars)									$ 8,200,000
Chief Executive Officer [Member]
Equity (Details) [Line Items]
Stock-based compensation expense (in Dollars)		$ 19,000,000
Severance expense (in Dollars)		$ 5,000,000
Grant to Board of Directors [Member]
Equity (Details) [Line Items]
Restricted shares granted					18,336		286,000
Selling, general and administrative expense (in Dollars)					$ 151,000
Stock Options [Member]
Equity (Details) [Line Items]
Total unrecognized compensation cost (in Dollars)								$ 4,400,000	$ 4,400,000
Unrecognized compensation cost over next period									4 years 4 months 24 days
Restricted Stock [Member]
Equity (Details) [Line Items]
Total unrecognized compensation cost (in Dollars)								$ 4,900,000	$ 4,900,000
Unrecognized compensation cost over next period									3 years 6 months
Class B Common Stock [Member]
Equity (Details) [Line Items]
Sale of common stock (in Dollars)			$ 2,250,000								$ 250,000,000
Sale of stock issued			48,859
Share issued						112,501
Share per price (in Dollars per share)						$ 44.42
Proceeds from issuance of common stock (in Dollars)										$ 2,000,000
Class B Common Stock [Member] | Securities Purchase Agreement [Member]
Equity (Details) [Line Items]
Sale of stock issued				567,437
Sale of stock price per share (in Dollars per share)				$ 22.91
Aggregate purchase price (in Dollars)				$ 13,000,000
Aggregate shares of common stock									218,245
Cash consideration (in Dollars)									$ 5,000,000
Class B Common Stock [Member] | Grant to Board of Directors [Member]
Equity (Details) [Line Items]
Restricted shares granted					33,360		12,609
Warrant [Member]
Equity (Details) [Line Items]
Purchase of warrants granted, percentage									(20.00%)
Warrants exercisable, description									The warrants are exercisable at a per share exercise price of $22.91, and are exercisable at any time on or after December 7, 2020 through June 6, 2022.
Warrants outstanding								26,189	26,189
Exercise price (in Dollars per share)								$ 22.91	$ 22.91
Warrant [Member] | IDT [Member]
Equity (Details) [Line Items]
Warrants exercised										43,649
Warrant [Member] | Class B Common Stock [Member]
Equity (Details) [Line Items]
Warrants to purchase								113,487	113,487
Warrants exercised										87,298
2018 Equity Incentive Plan [Member]
Equity (Details) [Line Items]
Issuance of restricted shares									5,000,000
Options were granted									98,000,000
Deducting transaction costs (in Dollars)									$ 6,200,000
2021 Plan [Member]
Equity (Details) [Line Items]
Sale of stock issued								1,002,566	237,761
Restricted shares (in Dollars)								$ 987,542	$ 0
Issuance of shares								684,198	684,198
2021 Plan [Member] | Class B Common Stock [Member]
Equity (Details) [Line Items]
Common stock shares issued	1,919,025
Equity Incentive Plan [Member] | Grant to Board of Directors [Member]
Equity (Details) [Line Items]
Restricted shares granted					15,024

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock option activity $ / shares in Units, $ in Thousands	9 Months Ended
	Apr. 30, 2022USD ($)$ / sharesshares
Schedule of stock option activity [Abstract]
Number of Options, Outstanding, Beginning balance | shares	683,414
Weighted-Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 11.13
Weighted-Average Remaining Contractual Term, Outstanding, Beginning	3 years 18 days
Aggregate Intrinsic Value, Outstanding, Beginning balance | $	$ 26,982
Number of Options, Granted | shares	518,304
Weighted-Average Exercise Price, Granted | $ / shares	$ 20.54
Number of Options, Cancelled / Forfeited | shares	(180,441)
Weighted-Average Exercise Price, Cancelled / Forfeited | $ / shares
Number of Options, Outstanding, Ending balance | shares	1,021,277
Weighted-Average Exercise Price, Outstanding, Ending balance | $ / shares	$ 12.11
Weighted-Average Remaining Contractual Term, Outstanding, Ending balance	4 years 8 months 19 days
Aggregate Intrinsic Value, Outstanding, Ending balance | $
Number of Options, Exercisable | shares	594,607
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 6.69
Weighted-Average Remaining Contractual Term, Outstanding, Exercisable	1 year 3 months 21 days
Aggregate Intrinsic Value, Outstanding, Exercisable | $

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of Black-Scholes option pricing model	9 Months Ended
	Apr. 30, 2022
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Expected dividend yield
Minimum [Member]
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Risk-free interest rate	0.67%
Expected term (in years)	6 years 14 days
Expected volatility	75.00%
Maximum [Member]
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Risk-free interest rate	1.70%
Expected term (in years)	6 years 1 month 9 days
Expected volatility	93.00%

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of grants of restricted shares of Class B common stock	9 Months Ended
	Apr. 30, 2022$ / sharesshares
Schedule of grants of restricted shares of Class B common stock [Abstract]
Number of Non-vested Shares, Beginning Balance | shares	1,007,975
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 46.77
Number of Non-vested Shares, Granted | shares	1,078,810
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 5.22
Number of Non-vested Shares, Vested | shares	(80,707)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 14.58
Number of Non-vested Shares, Cancelled / Forfeited | shares	(943,305)
Weighted Average Grant Date Fair Value, Cancelled / Forfeited | $ / shares	$ (48.5)
Number of Non-vested Shares, Ending Balance | shares	1,062,773
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 5.5

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of general and administrative expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Schedule of general and administrative expense [Abstract]
General and administrative	$ 928	$ 112	$ 16,277	$ 619
Research and development	80	192	613	404
Forfeiture of RSUs within general and administrative			(18,978)
Net stock-based compensation expense	$ 1,008	$ 304	$ (2,088)	$ 1,023

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Leases [Abstract]
Net operating leases with initial term expiration dates ,description			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.
Comprehensive loss	$ 700,000	$ 800,000	$ 2,400,000	$ 2,200,000
Real estate property taxes	$ 0	$ 37,000	$ 212,000	$ 37,000
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			$ 2,000,000
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 future contractual minimum lease payments $ in Thousands	Apr. 30, 2022USD ($)
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2022 (remaining)	$ 666
2023	2,709
2024	2,693
2025	2,209
2026	562
Thereafter	1,570
Total Minimum Future Rental Income	10,409
Related Parties [Member]
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2022 (remaining)	526
2023	2,117
2024	2,155
2025	1,659
2026
Thereafter
Total Minimum Future Rental Income	6,457
Other [Member]
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2022 (remaining)	140
2023	592
2024	538
2025	550
2026	562
Thereafter	1,570
Total Minimum Future Rental Income	$ 3,952

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jun. 13, 2022	Feb. 18, 2022	Apr. 30, 2022	May 03, 2022	May 02, 2022	Apr. 04, 2022
Subsequent Events (Details) [Line Items]
Contract sale purchase price		$ 49,400,000
Escrow deposit			$ 750,000			$ 1,000,000
Escrow deposit nonrefundable						$ 375,000
Escrow deposits additional			203,125
Fee payable			112,500
Interest on mortgage amount			90,625
Company retain payment			203,125
Exceed of actual costs			203,125
Purchaser receive credit amount			$ 203,125
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Escrow deposit nonrefundable				$ 2,125,000
Escrow deposits additional					$ 1,500,000
Employment agreement term	5 years
Annual base salary	$ 260,000
Class B Common Stock [Member] | Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Issuance of restricted shares value	250,000
Grant of restricted shares value	$ 600,000