Rafael (RFL) 10-Q 13 Jun 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Apr. 30, 2023	Jun. 09, 2023
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, 2023
Document Fiscal Year Focus	2023
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		23,507,565

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 15,441	$ 26,537
Available-for-sale securities	66,962	36,698
Interest receivable	352	140
Convertible note receivable, related party	1,898
Accounts receivable, net of allowance for doubtful accounts of $180 and $197 at April 30, 2023 and July 31, 2022, respectively	249	157
Prepaid expenses and other current assets	146	4,621
Assets held-for-sale		40,194
Total current assets	85,048	108,347
Property and equipment, net	1,713	1,770
Investments – Other Pharmaceuticals	126	477
Investments – Hedge Funds	4,884	4,764
Investment - Day Three	3,000
In-process research and development and patents	1,575	1,575
Other assets	9	1,387
TOTAL ASSETS	96,355	118,320
CURRENT LIABILITIES
Accounts payable	616	564
Accrued expenses	592	1,875
Other current liabilities	174	3,518
Due to related parties	29	69
Note payable, net of debt issuance costs, held-for-sale		15,000
Total current liabilities	1,411	21,026
Other liabilities	52	88
TOTAL LIABILITIES	1,463	21,114
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, 2023 and July 31, 2022, respectively	8	8
Class B common stock, $0.01 par value; 200,000,000 shares authorized, 23,636,084 issued and 23,507,108 outstanding as of April 30, 2023, and 23,712,449 issued and 23,687,964 outstanding as of July 31, 2022, respectively	236	237
Additional paid-in capital	263,505	262,023
Accumulated deficit	(168,552)	(165,457)
Accumulated other comprehensive loss related to unrealized loss on available-for-sale securities	(389)	(63)
Accumulated other comprehensive income related to foreign currency translation adjustment	3,720	3,767
Total equity attributable to Rafael Holdings, Inc.	98,528	100,515
Noncontrolling interests	(3,636)	(3,309)
TOTAL EQUITY	94,892	97,206
TOTAL LIABILITIES AND EQUITY	$ 96,355	$ 118,320

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Allowance for doubtful accounts (in Dollars)	$ 180	$ 197
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	23,636,084	23,712,449
Common stock, shares outstanding	23,507,108	23,687,964

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
REVENUE
Rental – Third Party	$ 44	$ 48	$ 130	$ 137
Rental – Related Party	27	28	81	84
Other – Related Party				120
Total revenue	71	76	211	341
COSTS AND EXPENSES
General and administrative	2,343	3,336	7,537	13,930
Research and development	740	1,413	5,046	6,901
Depreciation and amortization	19	17	60	54
Provision for loss on receivable from Cornerstone Pharmaceuticals pursuant to line of credit				25,000
Provision for losses on related party receivables				10,095
Loss from operations	(3,031)	(4,690)	(12,432)	(55,639)
Interest expense		(1)		(19)
Interest income	1,531	53	2,301	58
Impairment of investments - Other Pharmaceuticals	(128)		(351)
Impairment of cost method investment - Cornerstone Pharmaceuticals				(79,141)
Realized gain (loss) on available-for-sale securities		(2)	154	(2)
Unrealized gain (loss) on investments - Hedge Funds	(131)	(341)	120	(584)
Loss from continuing operations before income taxes	(1,759)	(4,981)	(10,208)	(135,327)
Benefit from (provision for) income taxes	269	(2)	259	(6)
Equity in loss of RP Finance				(575)
Consolidated net loss from continuing operations	(1,490)	(4,983)	(9,949)	(135,908)
Discontinued Operations (Note 3)
Loss from discontinued operations related to 520 Property		(565)	(241)	(1,616)
Gain on disposal of 520 Property			6,784
(Loss) income from discontinued operations		(565)	6,543	(1,616)
Consolidated net loss	(1,490)	(5,548)	(3,406)	(137,524)
Net loss attributable to noncontrolling interests	(53)	(19)	(311)	(17,650)
Net loss attributable to Rafael Holdings, Inc.	(1,437)	(5,529)	(3,095)	(119,874)
OTHER COMPREHENSIVE LOSS
Consolidated net loss	(1,490)	(5,548)	(3,406)	(137,524)
Unrealized loss on available-for-sale securities	(697)	(48)	(326)	(48)
Foreign currency translation adjustment	(21)	(160)	(47)	(5)
Total comprehensive loss	(2,208)	(5,756)	(3,779)	(137,577)
Comprehensive (loss) income attributable to noncontrolling interests	(53)	4	(308)	(17,677)
Total comprehensive loss attributable to Rafael Holdings, Inc.	$ (2,155)	$ (5,760)	$ (3,471)	$ (119,900)
Loss per share attributable to common stockholders
Continuing operations- basic and diluted (in Dollars per share)	$ (0.06)	$ (0.25)	$ (0.42)	$ (6.07)
Discontinued operations - basic and diluted (in Dollars per share)		(0.03)	0.28	(0.09)
Total basic and diluted (loss) per share (in Dollars per share)	$ (0.06)	$ (0.28)	$ (0.14)	$ (6.16)
Weighted average number of shares used in calculation of loss per share
Basic and diluted (in Shares)	23,372,136	19,759,114	23,179,364	19,472,178

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
REVENUE
Continuing operations - basic and diluted	$ (0.06)	$ (0.25)	$ (0.42)	$ (6.07)
Discontinued operations - basic and diluted		(0.03)	0.28	(0.09)
Total basic and diluted (loss) per share	$ (0.06)	$ (0.28)	$ (0.14)	$ (6.16)
Weighted average number of shares used in calculation of (loss) per share, Diluted (in Shares)	23,372,136	19,759,114	23,179,364	19,472,178

Consolidated Statements of Shar

Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Series A Common Stock	Series B Common Stock	Additional paid-in- capital	Accumulated deficit	Accumulated other comprehensive income	Noncontrolling interests	Total
Balance at Jul. 31, 2021	$ 8	$ 169	$ 159,136	$ (40,799)	$ 3,772	$ 14,418	$ 136,704
Balance (in Shares) at Jul. 31, 2021	787,163	16,936,864
Net loss				(119,874)		(17,650)	(137,524)
Stock-based compensation		$ 11	16,879				16,890
Stock-based compensation (in Shares)		1,050,902
Forfeiture of restricted stock		$ (9)	(18,969)				(18,978)
Forfeiture of restricted stock (in Shares)		(943,305)
Common stock sold to investors		$ 28	99,142				99,170
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		$ 1	4,996				4,997
Common stock sold to related party (in Shares)		112,501
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)
Acquisition of additional ownership interest in LipoMedix			8			(8)
Foreign currency translation adjustment					(5)		(5)
Balance at Apr. 30, 2022	$ 8	$ 200	254,892	(160,673)	3,719	(3,240)	94,906
Balance (in Shares) at Apr. 30, 2022	787,163	19,981,157
Balance at Jan. 31, 2022	$ 8	$ 190	253,896	(155,144)	3,927	(3,221)	99,656
Balance (in Shares) at Jan. 31, 2022	787,163	19,029,012
Net loss				(5,529)		(19)	(5,548)
Stock-based compensation		$ 10	997				1,007
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	$ 8	$ 200	254,892	(160,673)	3,719	(3,240)	94,906
Balance (in Shares) at Apr. 30, 2022	787,163	19,981,157
Balance at Jul. 31, 2022	$ 8	$ 237	262,023	(165,457)	3,704	(3,309)	97,206
Balance (in Shares) at Jul. 31, 2022	787,163	23,687,964
Net loss				(3,095)		(311)	(3,406)
Stock-based compensation		$ 2	2,549				2,551
Stock-based compensation (in Shares)		220,019
Forfeiture of restricted stock		$ (2)	(901)				(903)
Forfeiture of restricted stock (in Shares)		(296,384)
Shares withheld for payroll taxes		$ (1)	(182)				(183)
Shares withheld for payroll taxes (in Shares)		(104,491)
Unrealized loss on available-for-sale securities					(326)		(326)
Acquisition of additional ownership interest in LipoMedix			16			(16)
Foreign currency translation adjustment					(47)		(47)
Balance at Apr. 30, 2023	$ 8	$ 236	263,505	(168,552)	3,331	(3,636)	94,892
Balance (in Shares) at Apr. 30, 2023	787,163	23,507,108
Balance at Jan. 31, 2023	$ 8	$ 236	262,924	(167,115)	4,049	(3,567)	96,535
Balance (in Shares) at Jan. 31, 2023	787,163	23,522,995
Net loss				(1,437)		(53)	(1,490)
Stock-based compensation			591				591
Shares withheld for payroll taxes			(26)				(26)
Shares withheld for payroll taxes (in Shares)		(15,887)
Unrealized loss on available-for-sale securities					(697)		(697)
Acquisition of additional ownership interest in LipoMedix			16			(16)
Foreign currency translation adjustment					(21)		(21)
Balance at Apr. 30, 2023	$ 8	$ 236	$ 263,505	$ (168,552)	$ 3,331	$ (3,636)	$ 94,892
Balance (in Shares) at Apr. 30, 2023	787,163	23,507,108

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Operating activities
Consolidated net loss	$ (3,406)	$ (137,524)
Less: Income (loss) from discontinued operations	6,543	(1,616)
Loss from continuing operations	(9,949)	(135,908)
Adjustments to reconcile consolidated net loss to net cash used in operating activities
Depreciation and amortization	60	54
Net unrealized (gain) loss on investments - Hedge Funds	(120)	584
Realized (gain) loss on available-for-sale securities	(154)	2
Amortization of discount on available-for-sale securities	(707)
Impairment of investments - Other Pharmaceuticals	351
Impairment of cost method investment - Cornerstone Pharmaceuticals		79,141
Provision for loss on receivable from Cornerstone Pharmaceuticals pursuant to line of credit		25,000
Equity in loss of RP Finance		575
Provision for losses on related party receivables		10,095
Provision for doubtful accounts		(7)
Stock-based compensation, net	1,648	(2,088)
Amortization of debt discount		375
Change in assets and liabilities, net of effects from discontinued operations:
Trade accounts receivable	(88)	(390)
Interest receivable	(212)	(258)
Prepaid expenses and other current assets	1,188	(1,175)
Other assets	(25)	166
Accounts payable and accrued expenses	(715)	(179)
Other current liabilities		514
Due to related parties	(40)	(67)
Due from Cornerstone Pharmaceuticals		(120)
Other liabilities	12	37
Net cash used in continuing operations	(8,751)	(23,649)
Net cash used in discontinued operations	(687)	(528)
Net cash used in operating activities	(9,438)	(24,177)
Investing activities
Payment to Cornerstone Pharmaceuticals pursuant to Line of Credit		(25,000)
Purchases of property and equipment		(1)
Payment to fund RP Finance Line of Credit		(1,875)
Purchases of available-for-sale securities	(166,340)	(32,957)
Proceeds from the sale and maturities of available-for-sale securities	136,973	2,500
Issuance of convertible note receivable, related party	(2,000)
Purchase of Investment in Day Three	(3,000)
Net cash used in investing activities of continuing operations	(34,367)	(57,333)
Proceeds from sale of 520 Property - discontinued operations	49,400
Payment of transaction costs for sale of 520 Property - discontinued operations	(1,229)
Purchases of property and equipment - discontinued operations		(86)
Net cash provided by (used in) investing activities of discontinued operations	48,171	(86)
Net cash provided by (used in) investing activities	13,804	(57,419)
Financing activities
Proceeds from issuance of common stock		104,167
Payment of transaction costs incurred in connection with sale of common stock		(6,228)
Payments for taxes related to shares withheld for employee taxes	(183)	(72)
Net cash (used in) provided by continuing operations	(183)	97,867
Payment of Note Payable in connection with sale of 520 Property - discontinued operations	(15,000)
Net cash (used in) provided by financing activities	(15,183)	97,867
Effect of exchange rate changes on cash and cash equivalents	(279)	(160)
Net (decrease) increase in cash and cash equivalents	(11,096)	16,111
Cash and cash equivalents, beginning of period	26,537	12,854
Cash and cash equivalents, end of period	15,441	28,965
Non-cash supplemental disclosure
Acquisition of additional ownership interest in LipoMedix	$ 16	$ 8

Description of Business

Description of Business	9 Months Ended
	Apr. 30, 2023
Description of Business [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS Description of Business Rafael Holdings, Inc. (NYSE:RFL), (“Rafael Holdings”, “we” or the “Company”), a Delaware corporation, is a holding company with interests in clinical and early-stage pharmaceutical companies (the “Pharmaceutical Companies”), including an investment in Cornerstone Pharmaceuticals, Inc., formerly known as Rafael Pharmaceuticals Inc., a cancer metabolism-based therapeutics company, a majority equity interest in LipoMedix Pharmaceuticals Ltd. (“LipoMedix”), a clinical stage pharmaceutical company, the activities of the Barer Institute Inc. (“Barer”), a wholly-owned preclinical cancer metabolism research operation, and Rafael Medical Devices, Inc., a wholly-owned orthopedic-focused medical device company developing instruments to advance minimally invasive surgeries (“Rafael Medical Devices” and together with the Pharmaceutical Companies, the “Healthcare Companies”). In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. The Company’s primary focus is to invest in, fund, and develop novel cancer therapies. We further seek to expand our portfolio through opportunistic investments in therapeutics which address high unmet medical needs including through acquisitions and strategic investments. Furthermore, in light of current market, macroeconomic, and industry conditions, the Company has determined to seek out, evaluate, and potentially invest in areas within and beyond biopharma. Historically, the Company owned multiple real estate assets. In 2020, the Company sold an office building located in Piscataway, New Jersey and, on August 22, 2022, the Company sold the building at 520 Broad Street in Newark, New Jersey that serves as headquarters for the Company and several tenants and an associated public garage (the “520 Property”). See Note 3 for further details on the sale transaction. Currently, the Company holds a portion of a commercial building in Jerusalem, Israel as its remaining real estate asset. The Company holds debt and equity investments in Cornerstone 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. In addition, 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 financial statements for the first quarter ended October 31, 2021, 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 the likelihood of further development of and prospects for CPI-613 is uncertain and fully impaired in the first quarter ended October 31, 2021 the value of its loans, receivables, and investment in Cornerstone Pharmaceuticals based upon its valuation of Cornerstone Pharmaceuticals. On February 2, 2022, the Company terminated the Merger Agreement with Cornerstone Pharmaceuticals, effective immediately, in accordance with its terms. Subsequently, on February 2, 2022, the Company withdrew its Registration Statement on Form S-4 related to the proposed Merger. In 2019, the Company established Barer, a preclinical cancer metabolism research operation, to focus on developing a pipeline of novel therapeutic compounds, including compounds to regulate cancer metabolism with potentially broader application in other indications beyond cancer. Barer has been comprised of scientists and academic advisors that are experts in cancer metabolism, chemistry, and drug development. In addition to its own internal discovery efforts, Barer pursued collaborative research agreements and in-licensing opportunities with leading scientists from top academic institutions. Barer’s subsidiary, Farber Partners, LLC (“Farber”), was formed around one such agreement with Princeton University’s Office of Technology Licensing for technology from the laboratory of Professor Joshua Rabinowitz, in the Department of Chemistry, Princeton University, for an exclusive worldwide license to its SHMT (serine hydroxymethyltransferase) inhibitor program. In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at the Barer Institute. The Company also holds a 95% investment in LipoMedix, a development-stage, privately held Israeli company focused on the development of an innovative, safe and effective cancer therapy based on liposome delivery. The “Company” in these consolidated financial statements refers to Rafael Holdings and its subsidiaries on a consolidated basis. The accompanying consolidated financial statements reflect the activity related to the 520 Property as discontinued operations. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances eliminated in consolidation. In addition to Rafael Holdings, Inc., the subsidiaries included in these consolidated financial statements are as follows: Company Country of Incorporation Percentage Rafael Holdings, Inc. United States – Delaware 100 % 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, Inc. 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 95 %**** Altira Capital & Consulting, LLC United States – Delaware 67 % CS Pharma Holdings, LLC United States – Delaware 45 %** * In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. ** 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. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). Refer to Note 4 for further details. *** During Fiscal 2022, the Company discontinued further material investment in Levco. **** On February 9, 2023, the Company increased its ownership interest in LipoMedix Pharmaceuticals Ltd. an additional 11% from 84% to 95%. 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, 2023
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 accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation have been included. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal year 2022 refers to the fiscal year ended July 31, 2022). Operating results for the three and nine months ended April 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2023. The balance sheet at July 31, 2022 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2022, or the 2022 Form 10-K, as filed with the U.S. Securities and Exchange Commission (the “SEC”). 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, 2023, the Company had cash and cash equivalents of approximately $15.4 million, and available-for-sale securities valued at approximately $67.0 million. On August 22, 2022, the Company received net proceeds of approximately $33 million in connection with the sale of the 520 Property (see Note 3 for further details). The Company expects the balance of cash and cash equivalents, and available-for-sale securities to be sufficient to meet our obligations for at least 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 invested. 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, 2023, including revenue from discontinued operations, related parties represented 39% and 43% of the Company’s revenue, respectively, and as of April 30, 2023, there were no customers that were a concentration of the Company’s accounts receivable balance. For the three and nine months ended April 30, 2022, including revenue from discontinued operations, 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 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. Reserve for Receivables The Company evaluates accounts receivable, loans, interest and fees receivable for impairment under Accounting Standards Codification (“ASC”) 310, Receivables Convertible Note Receivable, Related Party The Convertible Note Receivable is classified as available-for-sale as defined under ASC 320, Investments - Debt and Equity Securities The fair value of the convertible promissory note is estimated using a scenario-based analysis based on the probability-weighted present value of future investment returns, considering each of the possible outcomes available to the Company, including cash repayment, equity conversion, and collateral transfer scenarios. Estimating the fair value of the convertible note requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. 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 in accordance with ASC 321, Investments - Equity Securities Investments - Hedge Funds The Company accounts for its investments in hedge funds in accordance with ASC 321, Investments – Equity Securities Corporate Bonds and US Treasury Bills 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 Assets Held-for-Sale and Discontinued Operations The Company classifies assets as held-for-sale if all held-for-sale criteria are met pursuant to ASC 360-10, Property, Plant and Equipment Strategic changes in the Company’s operations can be considered a discontinued operation if both the operations and cash flows of the discontinued component have been (or will be) eliminated from the ongoing operations of the Company and the Company will not have any significant continuing involvement in the operations of the discontinued component after the disposal transaction. The results of the discontinued operations shall be reflected as a discontinued operation on the consolidated statements of operations and comprehensive loss and prior periods shall be recast to reflect the earnings from discontinued operations. As a result of the agreement to sell the 520 Property, the accompanying consolidated financial statements reflect the activity related to the sale of the 520 Property as discontinued operations. The Company determined that the 520 Property met the held-for-sale and discontinued operations criteria as of July 1, 2022. The 520 Property was disposed of during the three months ended October 31, 2022. See Note 3 for additional information regarding the results, major classes of assets and liabilities, significant non-cash operating items, and capital expenditures of discontinued operations. 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 The revenue derived from the 520 Property, which included leasing office and parking space to the tenants, is presented within discontinued operations in the consolidated statements of operations and comprehensive loss. 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 earned revenue from parking which was derived primarily from monthly and transient daily parking. The monthly and transient daily parking revenue falls within the scope of ASC 606 and was 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 Contingencies The Company accrues for loss contingencies when both (a) information available prior to issuance of the financial statements indicates that it is probable that a liability had been incurred at the date of the financial statements and (b) the amount of loss can reasonably be estimated. When the Company accrues for loss contingencies and the reasonable estimate of the loss is within a range, the Company records its best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount in the range. The Company discloses an estimated possible loss or a range of loss when it is at least reasonably possible that a loss may have been incurred. Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, which is 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. The three-tier hierarchy for inputs used to measure fair value, which prioritizes the inputs to valuation techniques used to measure fair value, is as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities; ● Level 2 - quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or ● Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. Loss Per Share Basic 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 is determined in the same manner as basic loss per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. The Company uses income from continuing operations as the “control number” or benchmark to determine whether potential common shares are dilutive or anti-dilutive for purposes of reporting earnings (loss) per share for discontinued operations. 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. In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Discontinued Operations

Discontinued Operations	9 Months Ended
	Apr. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 3 – DISCONTINUED OPERATIONS On July 1, 2022, the Company determined that the 520 Property met the held-for-sale criteria and the Company therefore classified the 520 Property as held-for-sale in the consolidated balance sheets at July 31, 2022. The sale of the 520 Property also represented a significant strategic shift that will have a major effect on the Company’s operations and financial results. Therefore, the Company has classified the results of operations related to the 520 Property as discontinued operations in the consolidated statements of operations and comprehensive loss. Depreciation on the 520 Property ceased on July 1, 2022, as a result of the 520 Property being classified as held-for-sale. On August 22, 2022, Broad Atlantic Associates, LLC, a wholly-owned subsidiary of the Company, completed the sale of the 520 Property for an aggregate gross purchase price of $49.4 million. The 520 Property was encumbered by a mortgage securing a $15 million note payable which was paid off in this transaction. Refer to Note 14 for further information on the note payable. After repaying the note payable, commissions, taxes, and other related costs, the Company received a net cash amount of approximately $33 million at closing. The carrying value of major classes of assets and liabilities related to discontinued operations at July 31, 2022 was as follows ($ in thousands): As of Current assets held-for-sale Building and Improvements $ 45,437 Land 10,412 Furniture and Fixtures 1,145 Other 205 Property and equipment 57,199 Less Accumulated Depreciation (17,005 ) Property and equipment, net 40,194 Total current assets held-for-sale 40,194 Total assets held-for-sale $ 40,194 Current liabilities held-for-sale Total current liabilities $ 15,000 The current portion of deferred rental income included in Prepaid Expenses and Other Current Assets was $0 and approximately $150 thousand as of April 30, 2023 and July 31, 2022, respectively. The noncurrent portion of deferred rental income included in Other Assets was $0 and approximately $1.3 million as of April 30, 2023 and July 31, 2022, respectively. The deferred rental income pertains to the 520 Property and was settled at the date of the sale of the 520 Property with the other working capital accounts of 520 Broad Street. Discontinued operations include (i) rental and parking revenues, (ii) payroll, benefits, facility costs, real estate taxes, consulting and professional fees dedicated to the 520 Property, (iii) depreciation and amortization expenses and (iv) interest (including amortization of debt issuance costs) on the note payable on the 520 Property. The operating results of these items are presented in our consolidated statements of operations and comprehensive loss as discontinued operations for all periods presented. The following table details the components comprising net loss from our discontinued operations ($ in thousands): Three Months Ended 2023 2022 Revenue from discontinued operations: Rental – Third Party $ — $ 148 Rental – Related Party — 496 Parking — 155 Total revenue from discontinued operations — 799 Costs and expenses from discontinued operations: General and administrative — 604 Depreciation and amortization — 362 Loss from discontinued operations — (167 ) Interest expense — (398 ) Loss from discontinued operations $ — $ (565 ) Nine Months Ended 2023 2022 Revenue from discontinued operations: Rental – Third Party $ 68 $ 487 Rental – Related Party 115 1,665 Parking 66 518 Total revenue from discontinued operations 249 2,670 Costs and expenses from discontinued operations: General and administrative 403 2,006 Depreciation and amortization — 1,088 Loss from discontinued operations (154 ) (424 ) Interest expense (87 ) (1,192 ) Loss from discontinued operations (241 ) (1,616 ) Gain on disposal of discontinued operations 6,784 — Gain (loss) from discontinued operations $ 6,543 $ (1,616 ) The gain on disposal of discontinued operations of approximately $6.8 million was derived from the gross proceeds of approximately $49.4 million from the sale of the 520 Property, less the carrying value of the 520 Property of approximately $40.2 million, net of approximately $1.2 million in transaction costs and the write off of approximately $1.2 million of deferred rental income.

Investment in Cornerstone Pharm

Investment in Cornerstone Pharmaceuticals	9 Months Ended
	Apr. 30, 2023
Schedule of Investments [Abstract]
INVESTMENT IN CORNERSTONE PHARMACEUTICALS	NOTE 4 – 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 focused on the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells. The Company owns debt and 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 Executive Chairman and former Chief Executive Officer of the Company and Member 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 42% 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 of 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 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. 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. 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. 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 consolidated statements of operations and comprehensive loss for the three months ended October 31, 2021. 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 under which Cornerstone Pharmaceuticals borrowed $25 million from the Company. The first advance was in the amount of $1.9 million on September 24, 2021. On October 1, 2021, a second advance was made 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 was June 17, 2022, and the amounts due on that date were not paid. The Company is in discussions with Cornerstone Pharmaceuticals and is evaluating its rights and plan of action with respect to the Line of Credit Agreement (in the contexts of all of its interests in Cornerstone Pharmaceuticals). 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 during the three months ended October 31, 2021. 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. There were no amounts recorded during the nine months ended April 30, 2023.

Convertible Note Receivable, Re

Convertible Note Receivable, Related Party	9 Months Ended
	Apr. 30, 2023
Table Text Block Supplement [Abstract]
CONVERTIBLE NOTE RECEIVABLE, RELATED PARTY	NOTE 5 – CONVERTIBLE NOTE RECEIVABLE, RELATED PARTY On March 21, 2023, the Company entered into a convertible promissory note (the “Promissory Note” or “Note”), with Cornerstone Pharmaceuticals, wherein, Cornerstone Pharmaceuticals promises to pay to the Company, $2 million (the “Principal Amount”), together with all interest accrued, on May 22, 2023 (the “Maturity Date”), or such earlier date as the Promissory Note is required or permitted to be repaid. As security for the Promissory Note, Cornerstone Pharmaceuticals granted to the Company a first priority security interest to the Company in all of Cornerstone Pharmaceuticals’ right, title and interest in and to all of the tangible and intangible assets purchased by Cornerstone Pharmaceuticals with the proceeds of the Promissory Note, all proceeds thereof and all rights to the data related to the acquisition (the “Collateral”). Cornerstone shall pay (or cause to be paid) interest to the Holder on the aggregate outstanding principal amount of this Promissory Note at the rate of seven and one-half percent (7.5%) per annum (eleven percent (11%) during any period of extension of the Maturity Date beyond May 22, 2023), which shall accrue from the date hereof until the date that the outstanding Principal Amount hereunder is paid in full or converted as provided herein, and, if applicable, at the Default Interest Rate per annum, which shall accrue on a quarterly basis during the period when such interest shall accrue as set forth above. Following the occurrence of and during the continuation of an uncured Event of Default (as defined below), the outstanding Principal Amount shall bear interest at the rate of fourteen percent (14%) per annum (the “Default Interest Rate”) until the earliest of (i) cure of such Event of Default, (ii) repayment of all outstanding amounts due under the Note, (iii) conversion of all then outstanding obligations under the Note, or (iv) transfer of all its rights related to the Transferred APA Assets (as defined in the Purchase Agreement). The entire (and not less than the entire) outstanding Principal Amount due under this Promissory Note together with all accrued unpaid interest thereon and other amounts owing hereunder (together, the “Owed Amount”), may, at Cornerstone’s election at any time prior to the Maturity Date be converted into a number of Shares (the “Conversion Shares”) calculated by dividing the entire Owed Amount by the conversion price used by Cornerstone in a Qualified Offering/Conversion, and if no such Qualified Offering/Conversion has been consummated, the fair market value for the Conversion as determined by an independent third party valuation firm (the “Conversion Price”). “Qualified Offering/Conversion” means an offering of Cornerstone’s equity securities (or Company securities convertible, exercisable or exchangeable for Company equity securities (“Convertible Securities”)) occurring after the date of this Promissory Note with gross cash proceeds to Cornerstone of not less than Ten Million Dollars ($10,000,000) ($12,000,000) The Promissory Note contains certain Trigger Events (as defined in the Note) that generally, if uncured within five (5) trading days, may result in an event of default in accordance with the terms of the Notes (such event, an “Event of Default”). Upon an Event of a Default, the Lender may consider the Promissory Note immediately due and payable. Upon an Event of Default, the interest rate may also be increased to the lesser of 18% per annum or the maximum rate permitted under applicable law. The Company recorded the Promissory Note at fair value as the security is classified as available for sale. Subsequent changes in fair value are recorded as unrealized gain or loss as a component of other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. The fair value of the convertible promissory note is estimated using a scenario-based analysis based on the probability-weighted present value of future investment returns, considering each of the possible outcomes available to the Company, including cash repayment, equity conversion, and collateral transfer scenarios. Estimating the fair value of the convertible note requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. For the three and nine months ended April 30, 2023, the Company recorded a change in fair value of approximately $102 thousand related to the decrease in fair value of the Note which was recognized in other comprehensive income (loss) on the consolidated statements of operations and comprehensive loss. Interest income on the Promissory Note totaled approximately $16 thousand for the three and nine months ended April 30, 2023 and is recorded in interest receivable on the consolidated balance sheets.

Investment in RP Finance, LLC

Investment in RP Finance, LLC	9 Months Ended
	Apr. 30, 2023
Investment in RP Finance, LLC [Abstract]
INVESTMENT IN RP FINANCE, LLC	NOTE 6 – INVESTMENT IN RP FINANCE, LLC On February 3, 2020, Cornerstone Pharmaceuticals entered into a Line of Credit with RP Finance (“RPF Line of Credit”) 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 RPF Line of Credit. The Instrument 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 RPF Line of Credit. The remaining 25% equity interests in RP Finance are owned by other stockholders of Cornerstone Pharmaceuticals. Under the RPF Line of Credit, 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 earliest 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 RPF Line of Credit must be repaid out of certain proceeds from equity sales by Cornerstone Pharmaceuticals. In connection with entering into the RPF Line of Credit, 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 RPF Line of Credit. 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 $0 in earnings from its ownership interests of 37.5% in RP Finance for the three months ended April 30, 2023 and 2022, respectively, and a loss of $0 and $575 thousand from its ownership interests of 37.5% in RP Finance for the nine months ended April 30, 2023 and 2022, 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 15). In August 2020, Cornerstone Pharmaceuticals called for a $5 million draw on the RPF Line of Credit and the facility was funded by RP Finance in the amount of $5 million. In November 2020, Cornerstone Pharmaceuticals called for a second $5 million draw on the RPF Line of Credit 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 of $10 million in draws on the line of RPF Line of Credit 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 RPF Line of Credit and the facility was funded by RP Finance LLC in the amount of $5 million. As of April 30, 2023, 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, 2023 and July 31, 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 nine months ended April 30, 2023. 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 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, 2023
Investment in LipoMedix Pharmaceuticals Ltd. [Abstract]
INVESTMENT IN LIPOMEDIX PHARMACEUTICALS LTD.	NOTE 7 – 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, 2023, the Company held 95% of the issued and outstanding ordinary shares of LipoMedix and has consolidated this investment from the second quarter of fiscal 2018. 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 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 “LipoMedix SPA”). 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 expired on November 11, 2022. As of the date of the LipoMedix SPA, 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 a note made by LipoMedix in favor of the Company issued in 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. On February 9, 2023, the Company entered into a Share Purchase Agreement with LipoMedix to purchase 70,000,000 ordinary shares at $0.03 per share for an aggregate purchase price of $2.1 million (the “2023 LipoMedix SPA”). As a result of the share purchase, the Company’s ownership of LipoMedix increased to approximately 95% with a noncontrolling interest of approximately 5%. The Company recorded approximately $16 thousand to adjust the carrying amount of the noncontrolling interest to reflect the Company’s increased ownership interest in LipoMedix’s net assets.

Investment in Day Three Labs In

Investment in Day Three Labs Inc.	9 Months Ended
	Apr. 30, 2023
Investments in Marketable Securities [Abstract]
INVESTMENT IN DAY THREE LABS INC.	NOTE 8 – INVESTMENT IN DAY THREE LABS INC. On April 7, 2023, the Company entered into a Common Stock Purchase Agreement (the “Purchase Agreement”) with Day Three Labs, Inc. (“Day Three”). Pursuant to the Purchase Agreement, the Company purchased 4,302,224 shares of common stock representing 38% of the outstanding shares of common stock of Day Three (33.333% on a fully diluted basis), for a purchase price of $3.0 million. The Company also received a warrant exercisable for 7,528,893 shares of common stock at an aggregate purchase price of $3 million, which expires five years from the issuance date. As of April 30, 2023, the Company has not exercised the warrant. The Company has accounted for this investment as an equity method investment in accordance with the guidance in ASC 323, Investments – Equity Method and Joint Ventures The Company has determined that Day Three is a VIE; however, the Company is not the primary beneficiary as it does not have the power to direct the activities that most significantly impact Day Three’s economic performance. The Company has therefore concluded it is not required to consolidate Day Three. The Company will use the equity method of accounting to record its investment in Day Three. Day Three’s fiscal year ends on December 31, and as a result, the Company will recognize its share of Day Three’s earnings/loss on a one-month lag. For the three and nine months ended April 30, 2023, the Company did not recognize any earnings/loss, as the Company had no right to Day Three’s results through March 31, 2023. The assets and operations of Day Three are not significant.

Investments

Investments	9 Months Ended
	Apr. 30, 2023
Investments in Marketable Securities [Abstract]
INVESTMENTS	NOTE 9 – INVESTMENTS The Company has classified its investments in corporate bonds, U.S. treasury bills, and convertible note receivable 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 and U.S. treasury bills. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities as of April 30, 2023 and July 31, 2022 are as follows: April 30, 2023 Amortized cost Gross unrealized gains Gross unrealized (losses) Fair value (in thousands) Available-for-sale securities: Corporate bonds $ 67,249 $ 3,922 $ (4,209 ) $ 66,962 Convertible note receivable, related party 2,000 — (102 ) 1,898 Total available-for-sale securities $ 69,249 $ 3,922 $ (4,311 ) $ 68,860 July 31, 2022 Amortized cost Gross unrealized gains Gross unrealized (losses) Fair value (in thousands) Available-for-sale securities: Corporate bonds $ 36,761 $ 81 $ (144 ) $ 36,698 Total available-for-sale securities $ 36,761 $ 81 $ (144 ) $ 36,698 During the three and nine months ended April 30, 2023, the Company reclassified approximately $0 thousand and $154 thousand of unrealized gains out of accumulated other comprehensive loss related to the sale of available-for-sale securities into consolidated net loss in the consolidated statements of operations and comprehensive loss in realized gain on available-for-sale securities. Maturities of corporate bonds held as of April 30, 2023 were all due within one year. Marketable securities in an unrealized loss position as of April 30, 2023 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 it will receive a full recovery of par value on the securities, although there can be no assurance that such recovery will occur.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 10 – 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, 2023 and July 31, 2022: April 30, 2023 Level 1 Level 2 Level 3 Total Assets: (in thousands) Available-for-sale securities - Corporate Bonds $ — $ 66,962 $ — $ 66,962 Hedge funds — — 4,884 4,884 Convertible note receivable, related party — — 1,898 1,898 Total $ — $ 66,962 $ 6,782 $ 73,744 July 31, 2022 Level 1 Level 2 Level 3 Total Assets: (in thousands) Available-for-sale securities - Corporate Bonds $ — $ 36,698 $ — $ 36,698 Hedge funds — — 4,764 4,764 Total $ — $ 36,698 $ 4,764 $ 41,462 As of April 30, 2023 and July 31, 2022, 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 2023 2022 2023 2022 (in thousands) (in thousands) Balance, beginning of period $ 5,015 $ 5,025 $ 4,764 $ 5,268 Total (loss) gain included in earnings (131 ) (341 ) 120 (584 ) Convertible note receivable, related party 2,000 — 2,000 — Total loss included in other comprehensive income (102 ) — (102 ) — Balance, end of period $ 6,782 $ 4,684 $ 6,782 $ 4,684 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. Available-for-sale securities classified as Level 3 include a convertible note receivable which may not be based on readily observable data inputs. The availability of observable inputs can vary 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 this asset is estimated based using a scenario-based analysis based on the probability-weighted present value of future investments returns, considering each of the possible outcomes available to us, including cash repayment, equity conversion, and collateral transfer scenarios. Estimating the fair value of the convertible note requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Therefore, this asset is classified as Level 3. The Company holds $0.1 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. 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 accounts receivable, accounts payable and due to related parties approximate their fair value due to their short-term nature.

Accounts Receivable

Accounts Receivable	9 Months Ended
	Apr. 30, 2023
Trade Accounts Receivable [Abstract]
ACCOUNTS RECEIVABLE	NOTE 11 – ACCOUNTS RECEIVABLE Accounts receivable consisted of the following: April 30, July 31, (in thousands) Accounts Receivable - Third Party $ 247 $ 196 Accounts Receivable - Related Party 182 158 Less Allowance for Doubtful Accounts (180 ) (197 ) Accounts Receivable, net $ 249 $ 157

Property and Equipment

Property and Equipment	9 Months Ended
	Apr. 30, 2023
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 12 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following: April 30, July 31, 2023 2022 (in thousands) Building and Improvements $ 2,505 $ 2,505 Other 68 68 2,573 2,573 Less Accumulated Depreciation (860 ) (803 ) Total $ 1,713 $ 1,770 Other property and equipment consist of other equipment and miscellaneous computer hardware. Depreciation expense pertaining to property and equipment was approximately $19 thousand and $17 thousand for the three months ended April 30, 2023 and 2022, respectively. Depreciation expense pertaining to property and equipment was approximately $60 thousand and $54 thousand for the nine months ended April 30, 2023 and 2022, respectively. The Company’s headquarters are located at 520 Broad Street in Newark, New Jersey, where it occupies office space and which was previously owned by the Company. The table above excludes the assets of the 520 Property which were classified as held-for-sale as of July 31, 2022 and subsequently sold on August 22, 2022. Refer to Note 3 for further information on the 520 Property.

Loss Per Share

Loss Per Share	9 Months Ended
	Apr. 30, 2023
Loss Per Share [Abstract]
LOSS PER SHARE	NOTE 13 – LOSS PER SHARE Basic 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, 2023 and 2022 because inclusion of all such securities would have been 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 2023 2022 2023 2022 Shares issuable upon exercise of stock options 389,142 1,021,277 389,142 1,021,277 Shares issuable upon vesting of restricted stock 921,318 1,062,773 921,318 1,062,773 Shares issuable upon exercise of warrants to purchase Class B common stock — 26,189 — 26,189 1,310,460 2,110,239 1,310,460 2,110,239 The diluted loss per share computation equals basic loss per share for the three and nine months ended April 30, 2023 and 2022 because the Company had a net loss from continuing operations 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. The following table summarizes the basic and diluted loss per share calculations (in thousands, except for share and per share amounts): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss from continuing operations $ (1,490 ) $ (4,983 ) $ (9,949 ) $ (135,908 ) Net loss attributable to noncontrolling interests (53 ) (19 ) (311 ) (17,650 ) Numerator for net loss from continuing operations (1,437 ) (4,964 ) (9,638 ) (118,258 ) Numerator for discontinued operations — (565 ) 6,543 (1,616 ) Net loss attributable to Rafael Holdings, Inc. $ (1,437 ) $ (5,529 ) $ (3,095 ) $ (119,874 ) Denominator: Weighted average basic and diluted shares outstanding 23,372,136 19,759,114 23,179,364 19,472,178 Loss per share attributable to common stockholders Basic and diluted: Continuing operations $ (0.06 ) $ (0.25 ) $ (0.42 ) $ (6.07 ) Discontinued operations — (0.03 ) 0.28 (0.09 ) Total basic and diluted earnings (loss) per share $ (0.06 ) $ (0.28 ) $ (0.14 ) $ (6.16 )

Note Payable, Held-For-Sale

Note Payable, Held-For-Sale	9 Months Ended
	Apr. 30, 2023
Note Payable, Held-For-Sale [Abstract]
NOTE PAYABLE, HELD-FOR-SALE	NOTE 14 – NOTE PAYABLE, HELD-FOR-SALE 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 provided 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 bore interest at a rate per annum equal to seven and one-quarter percent (7.25%) from July 9, 2021 through July 31, 2021 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 contained customary affirmative covenants, negative covenants and events of default, as defined in the Loan Agreement, including covenants and restrictions that, among other things, restricted 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 would have permitted 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 was in compli In connection with the sale of the 520 Property, on August 22, 2022, the Company paid off the outstanding principal balance of $15 million and accrued interest of approximately $87,000 on the Note Payable. Refer to Note 3 for further details on the subsequent sale of the 520 Property. Interest expense under the Note Payable, which is recognized in loss on discontinued operations, amounted to $0 and $87 thousand for the three and nine months ended April 30, 2023, respectively, and $273 thousand and $817 thousand for the three and nine months ended April 30, 2022, respectively. Unamortized debt issuance costs on the Note Payable totaled approximately $0 and $97 thousand as of April 30, 2023 and 2022, respectively. Amortization of the debt discount on the Note Payable totaled approximately $0 and $125 thousand for the three months ended April 30, 2023 and 2022, and $0 thousand and $375 thousand for the nine months ended April 30, 2023 and 2022, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Apr. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 15 – 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 receives rental income from IDT. The Company recorded expense of approximately $53 thousand and $92 thousand in related party services to IDT for the three months ended April 30, 2023 and 2022, respectively. The Company recorded expense of approximately $140 thousand and $248 thousand in related party services to IDT for the nine months ended April 30, 2023 and 2022, respectively, of which $0 and $69 thousand is included in due to related parties at April 30, 2023 and July 31, 2022, respectively. IDT leased, prior to the Company’s sale of the property, approximately 80,000 square feet of office space plus parking at 520 Broad Street, Newark, New Jersey and leases approximately 3,600 square feet of office space in Jerusalem, Israel. The Company invoiced IDT approximately $28 thousand for the three months ended April 30, 2023. The Company invoiced IDT approximately $147 thousand of which approximately $147 thousand is included in discontinued operations for office rent and parking during the three months ended April 30, 2022. The Company invoiced IDT approximately $184 thousand of which approximately $102 thousand is included in discontinued operations during the nine months ended April 30, 2023. The Company invoiced IDT approximately $1.0 million of which approximately $1.0 million is included in discontinued operations for office rent and parking during the nine months ended April 30, 2022. As of April 30, 2023 and July 31, 2022, IDT owed the Company approximately $181 thousand and $157 thousand, respectively, for office rent and parking. Cornerstone Pharmaceuticals Until October 31, 2021, the Company had provided Cornerstone Pharmaceuticals with administrative, finance, accounting, tax and legal services. Howard S. Jonas and William Conkling currently serve on the Board of Directors of Cornerstone Pharmaceuticals. The Company billed Cornerstone Pharmaceuticals $120 thousand for the nine months ended April 30, 2022. As of April 30, 2023 and July 31, 2022, Cornerstone Pharmaceuticals owed the Company $720 thousand, for which a full allowance for uncollectibility has been recorded. Due to the Data Events, in the nine months ended April 30, 2022, the balance owed to the Company by Cornerstone Pharmaceuticals was fully reserved, resulting in a loss on related party receivable of $720 thousand (see Note 4). On March 21, 2023, the Company entered into a Promissory Note with Cornerstone Pharmaceuticals, wherein, Cornerstone Pharmaceuticals promises to pay the Company $2 million together with all interest accrued on May 22, 2023, or such earlier date as the Promissory Note is required or permitted to be repaid (see Note 5). Related Party Rental Income The Company leased space to related parties (including IDT Corporation - see above) which represented approximately 39% and 60% of the Company’s total revenue for the three months ended April 30, 2023 and 2022, respectively and 43% and 58% of the Company’s total revenue for the nine months ended April 30, 2023 and 2022, respectively. The portion of related party rental income pertaining to the 520 Property has been classified in discontinued operations on the consolidated statements of operations and comprehensive loss for the three months ended April 30, 2022 and the nine months ended April 30, 2023 and 2022. There was no related party rental income for the three months ended April 30, 2023. RP Finance For each of the three months ended April 30, 2023 and 2022, the Company recognized $0 from its ownership interests of 37.5% in RP Finance. For the nine months ended April 30, 2023 and 2022, the Company recognized $0 and loss of $575 thousand in income from its ownership interests of 37.5% in RP Finance, respectively. Howard Jonas, Chairman of the Board and Former Chief Executive Officer In December 2020, IDT Corporation and Genie Energy Ltd, on whose Boards of Directors Howard Jonas, the Company’s Chairman of the Board and Executive Chairman 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 expired on June 6, 2022. The Issued Warrants were not exercised. 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. On June 22, 2022, the Company entered into a Stock Purchase Agreement (the “I9 SPA”) with I9 Plus, LLC. On July 6, 2022, pursuant to the I9 SPA, the Company sold 3,225,806 shares of the Company’s Class B common stock to I9 Plus, LLC at a price per share of $1.86 and an aggregate sale price of $6 million. LipoMedix Pharmaceuticals, Ltd. As of the date of the LipoMedix SPA, 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%. On February 9, 2023, the Company entered into a share purchase agreement with LipoMedix to purchase 70,000,000 ordinary shares at $0.03 per share for an aggregate purchase price of $2.1 million. As a result of the share purchase, the Company’s ownership of LipoMedix increased to approximately 95% with a noncontrolling interest of approximately 5%. The Company recorded approximately $16 thousand to adjust the carrying amount of the noncontrolling interest to reflect the Company’s increased ownership interest in LipoMedix’s net assets.

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2023
Income Taxes [Abstract]
INCOME TAXES	NOTE 16 – INCOME TAXES During the three months ended April 30, 2023 and 2022, the Company recognized an income tax benefit (provision) of $269 thousand on loss from continuing operations before income tax of $1.8 million, and $(2) thousand on a loss from continuing operations before income tax of $5.0 million, respectively. During the nine months ended April 30, 2023 and 2022, the Company recognized an income tax benefit (provision) of $259 thousand on loss from continuing operations before income tax of $10.2 million, and $6 thousand on a loss from continuing operations before income tax of $135.3 million, respectively. The change in income tax benefit (expense) in relation to the loss before income tax during the three and nine months ended April 30, 2023 compared to the three and nine months ended April 30, 2022 was primarily due to differences in the amount of taxable (loss) income in the various taxing jurisdictions and the associated valuation allowances, and the sale of tax benefits discussed below. As of April 30, 2023 and July 31, 2022, the Company recorded valuation allowances for the total net deferred tax asset balances. In accordance with the State of New Jersey’s Technology Business Tax Certificate Transfer Program, which allowed certain high technology and biotechnology companies to sell unused net operating loss carryforwards (“NOLs”) to other New Jersey-based corporate taxpayers based in New Jersey, the Company received approximately $274 thousand for the sale of the 2018 and 2019 credits in the third quarter of fiscal 2023 which was recorded in the benefit from (provision for) income taxes on the consolidated statements of operations and comprehensive loss. 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 Cuts and Jobs Act of 2017, 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, 2023
Business Segment Information [Abstract]
BUSINESS SEGMENT INFORMATION	NOTE 17 – BUSINESS SEGMENT INFORMATION The Company conducts business as two operating segments, Healthcare 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 Chief Executive Officer who is the 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 Healthcare segment based primarily on research and development efforts and results of clinical trials and the Real Estate segment based primarily on results of operations. The Healthcare 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, Farber, and Rafael Medical Devices. To date, the Healthcare segment has not generated any revenues. The Real Estate segment consists of the Company’s real estate holdings, which is currently comprised of a portion of a commercial building in Israel. The revenue, (loss) income from operations, and (loss) income before taxes of the 520 Property have been excluded from the Real Estate segment in the figures below due to its classification of held-for-sale and discontinued operations, and the sale of the 520 Property on August 22, 2022. Operating results for the business segments of the Company are as follows: (in thousands) Healthcare Real Estate Total Three Months Ended April 30, 2023 Revenues $ — $ 71 $ 71 (Loss) income from operations (3,049 ) 18 (3,031 ) (Loss) income before income taxes (1,777 ) 18 (1,759 ) Three Months Ended April 30, 2022 Revenues $ — $ 76 $ 76 (Loss) income from operations (4,704 ) 14 (4,690 ) (Loss) income before income taxes (4,995 ) 14 (4,981 ) (in thousands) Healthcare Real Estate Total Nine Months Ended April 30, 2023 Revenues $ — $ 211 $ 211 (Loss) income from operations (12,494 ) 62 (12,432 ) (Loss) income before income taxes (10,270 ) 62 (10,208 ) Nine Months Ended April 30, 2022 Revenues $ — $ 341 $ 341 (Loss) income from operations (55,795 ) 156 (55,639 ) (Loss) income before income taxes (135,483 ) 156 (135,327 ) Geographic Information Revenues from tenants located outside of the United States were generated entirely from related parties located in Israel. Revenues from these non-U.S. customers as a percentage of total revenues, which are inclusive of revenue from discontinued operations, were as follows (revenues by country are determined based on the location of the related facility): Three Months Ended April 30, 2023 2022 Revenue from tenants located in Israel 100 % 7 % Net property, plant, and equipment and total assets held outside of the United States, which are located in Israel, were as follows: (in thousands) United States Israel Total April 30, 2023 Property, plant, and equipment, net $ 296 $ 1,417 $ 1,713 Total assets 91,898 4,457 96,355 July 31, 2022 Property, plant, and equipment, net $ 305 $ 1,465 $ 1,770 Total assets 114,053 4,267 118,320

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Apr. 30, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 18 – COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company may from time to time be subject to legal proceedings that may arise in the ordinary course of business. Although there can be no assurance in this regard, the Company does not expect any of those legal proceedings to have a material adverse effect on the Company’s results of operations, cash flows or financial condition. In December 2022, the Company’s subsidiary Broad Atlantic Associates, LLC entered into a settlement agreement with a vendor providing for the payment by the Company of $113,000 representing payment in full for repair work done on the premises prior to our sale of the 520 Property. This amount is included in discontinued operations on the consolidated statements of operations and comprehensive loss.

Equity

Equity	9 Months Ended
	Apr. 30, 2023
Equity [Abstract]
EQUITY	NOTE 19 – EQUITY Share Repurchase Program In April 2023, the Company’s Board of Directors approved a share repurchase program (the “2023 Share Repurchase Program”) authorizing the repurchase of up to $5 million of the Company’s Class B common stock. Under the 2023 Share Repurchase Program, which took effect on April 14, 2023, the Company may purchase its shares from time to time until the earlier of June 16, 2023 (the “Plan Termination Date”) or when $5 million worth of shares at $1.75 per share or below have been purchased. The timing and amount of any share repurchases under the Share Repurchase will be determined at the Company’s discretion and based on market conditions and other considerations. Share repurchases under the authorizations may be made through open market purchases or pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934. The program does not obligate the Company to acquire any particular amount of its Class B common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. During the three months ended April 30, 2023, the Company did not repurchase any of its Class B common stock. 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 to issue 48,859 shares of Class B common stock for payment due on the purchase of Altira, an investment which has been subsequently fully impaired. 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 shares 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. The 2018 Equity Incentive Plan was created and adopted by the Company in March 2018. On January 19, 2022, the Company’s stockholders approved the 2021 Equity Incentive Plan (the “2021 Plan”). The 2018 Equity Incentive Plan was suspended and replaced by the 2021 Plan, and, following January 19, 2022, no new grants are to be awarded under the 2018 Equity Incentive Plan. 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. On January 19, 2022, the Company filed a Registration Statement on Form S-8 registering 1,919,025 shares Class B Common Stock reserved for issuance under the 2021 Plan. On November 28, 2022, the Company’s Board of Directors approved an amendment to the 2021 Plan that, among other things, increases the number of shares of the Company’s Class B Common Stock available for the grant of awards thereunder by an additional 696,770, which the stockholders approved on January 23, 2023. The maximum number of shares of Class B common stock that may be issued under the 2021 Plan is 2,615,795 shares. As of April 30, 2023, there were 928,812 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 Weighted Weighted Aggregate Outstanding at July 31, 2022 1,021,277 $ 12.11 4.47 $ — Granted 175,000 2.08 9.76 — Expired (589,205 ) — — — Cancelled / Forfeited (217,930 ) — — — Outstanding at April 30, 2023 389,142 $ 14.49 8.96 $ — Exercisable at April 30, 2023 59,518 $ 22.61 8.35 $ — At April 30, 2023, there is unrecognized compensation costs related to non-vested stock options of $1.4 million, which are expected to be recognized over the next 3.4 years. 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, 2023: Risk-free interest rate 3.60 - 3.66 % Expected term (in years) 6.11 Expected volatility 95.00 % Expected dividend yield — % The options granted had a $1.58 weighted average grant date fair value during the nine months ended April 30, 2023. Rafael Medical Devices, Inc. Stock Options The Rafael Medical Devices, Inc. 2022 Equity Incentive Plan (the “RMD 2022 Plan”) was created and adopted by the Company in May 2022. The RMD 2022 Plan allows for the issuance of up to 10,000 shares of Class B common stock which may be awarded in the form of incentive stock options or restricted shares. There are 4,734 shares available for issuance under the RMD 2022 Plan as of April 30, 2023. A summary of stock option activity for Rafael Medical Devices, Inc. is as follows: Number of Weighted Weighted Aggregate Outstanding at July 31, 2022 5,266 $ 3.82 9.76 $ — Granted — — — — Outstanding at April 30, 2023 5,266 $ 3.82 9.01 — Exercisable at April 30, 2023 2,633 $ 3.82 9.01 $ — At April 30, 2023, there are unrecognized compensation costs related to non-vested stock options of $7 thousand, which are expected to be recognized over the next 1.69 years. 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. 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 under the 2018 Equity Incentive Plan, and 15,024 of which were granted under 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 general and administrative expense in the consolidated statement of operations and comprehensive loss. On February 1, 2022, the Company issued 986,835 shares of Class B restricted stock to two members of the executive team. Approximately 24% of the restricted shares vest in December 2022, with the remaining shares vesting ratably each quarter through December 2025. On June 14, 2022, the Company issued 452,130 shares of Class B restricted stock to Howard S. Jonas. In January 2023, the Company issued 120,019 shares of Class B restricted stock to certain members of its Board of Directors, and 100,000 shares of Class B restricted stock to its new Chief Financial Officer. During January 2023, 296,384 shares of Class B restricted stock were cancelled or forfeited due to (i) the cancellation of 285,036 shares of restricted stock in connection with the departure of the Company’s former Chief Financial Officer and (ii) the remaining shares forfeited upon the termination of certain employees of the Company. In connection with Patrick Fabbio’s January 27, 2023 departure as the Company’s Chief Financial Officer, the Company and Mr. Fabbio entered into a Separation and General Release Agreement (the “Separation Agreement”), which provides, among other things, that the Company shall pay Mr. Fabbio severance in the amount of $307,913, which is included in selling, general and administrative expense on the consolidated statement of operations and comprehensive loss for the nine months ended April 30, 2023. In connection with the termination of Mr. Fabbio’s position as Chief Financial Officer of the Company, there was a material forfeiture of his Class B restricted shares and stock options resulting in a reversal of approximately $915 thousand in stock-based compensation expense for the nine months ended April 30, 2023 that was previously recorded to selling, general and administrative expense. A summary of the status of the Company’s grants of restricted shares of Class B common stock is presented below: Number of Weighted Outstanding at July 31, 2022 1,507,373 $ 4.22 Granted 220,019 1.99 Vested (509,690 ) 3.50 Cancelled / Forfeited (296,384 ) (5.05 ) Non-vested shares at April 30, 2023 921,318 $ 3.82 At April 30, 2023, there was $2.1 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements, which is expected to be recognized over the next four 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 and comprehensive loss for the nine months ended April 30, 2022. A summary of the stock-based compensation expense for the Company’s equity incentive plans is presented below: For the Three Months For the Nine Months 2023 2022 2023 2022 General and administrative $ 564 $ 928 $ 2,531 $ 16,354 Research and development 27 79 167 536 Forfeiture of RSUs within general and administrative — — (931 ) (18,978 ) Forfeiture of RSUs within research and development — — (119 ) — Net stock-based compensation expense $ 591 $ 1,007 $ 1,648 $ (2,088 )

Leases

Leases	9 Months Ended
	Apr. 30, 2023
Leases [Abstract]
LEASES	NOTE 20 – LEASES The Company is the lessor of the Israeli property which is leased to tenants under net operating leases with a term expiration date within 2025. Lease income included on the consolidated statements of operations and comprehensive loss was $0.1 million and $0.1 million for the three months ended April 30, 2023 and 2022, respectively, and $0.2 million and $0.2 million for the nine months ended April 30, 2023 and 2022, respectively. During the three and nine months ended April 30, 2023 and 2022, no real estate property taxes were included in rental income. The future contractual minimum lease payments to be received (excluding operating expense reimbursements) by the Company as of April 30, 2023, under non-cancellable operating leases which expire on various dates through 2025 are as follows: Year ending July 31, Related Parties Other Total (in thousands) 2023 (remaining) $ 19 $ — $ 19 2024 77 — 77 2025 78 — 78 Total Minimum Future Rental Income $ 174 $ — $ 174 A related party has the right to terminate the Israeli lease upon four months’ notice.

Subsequent Events

Subsequent Events	9 Months Ended
	Apr. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 21 – SUBSEQUENT EVENTS On May 2, 2023, the Company entered into a Securities Purchase Agreement (the “Cyclo SPA”) with Cyclo Therapeutics Inc., a Nevada corporation (“Cyclo”) Nasdaq: CYTH, whereby the Company purchased from Cyclo (i) 2,514,970 common shares (the “Purchased Shares”) and (ii) a warrant to purchase 2,514,970 common shares with an exercise price of $0.71 per share (the “Cyclo Warrant”), at a combined purchase price equal to $0.835 per Purchased Share and Cyclo Warrant to purchase one share, for an aggregate purchase price of $2,100,000. The Cyclo Warrant may be exercised for the seven-year period following the date Cyclo obtains the approval of the stockholders of Cyclo to the exercise of the Cyclo Warrant in accordance with Listing Rules 5635(b) and 5635(d) of The Nasdaq Stock Market, Inc. The funds used to purchase the Purchased Shares and the Cyclo Warrant are from the working capital of the Company. On June 1, 2023, the Company entered into another Securities Purchase Agreement (the “Cyclo II SPA”) with Cyclo. Pursuant to the Cyclo II SPA, the Company has agreed to purchase 4,000,000 shares of common stock (the “Cyclo II Shares”), and a warrant to purchase an additional 4,000,000 Shares (the “Cyclo II Warrant”), for an aggregate purchase price of $5,000,000. The Cyclo II Warrant will have an exercise price of $1.25 per share and be exercisable for a period of seven years following the date of issuance. The obligations of the Company and Cyclo to consummate the closing of the Cyclo II SPA are subject to, among other standard closing conditions, Cyclo obtaining the approval of its stockholders to the consummation of the transactions contemplated by the Cyclo II SPA in accordance with Listing Rule 5635 of The Nasdaq Stock Market, Inc. Pursuant to the Cyclo II SPA, the Registration Rights Agreement between the Company and Cyclo, dated May 2, 2023, has been amended to require the Company to file a registration statement with the Securities and Exchange Commission to register the resale of the Cyclo II Shares and shares of common stock underlying the Cyclo II Warrants, upon the request of the Company, and (ii) Cyclo agreed to appoint a designee of the Company (in addition to William Conkling, the Company’s Chief Executive Officer), to Cyclo’s Board of Directors, and to nominate such designee to serve as a director of Cyclo in connection with Cyclo’s solicitation of proxies for Cyclo’s next Annual Meeting of Stockholders.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Apr. 30, 2023
Description of Business [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation have been included. The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal year 2022 refers to the fiscal year ended July 31, 2022). Operating results for the three and nine months ended April 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2023. The balance sheet at July 31, 2022 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2022, or the 2022 Form 10-K, as filed with the U.S. Securities and Exchange Commission (the “SEC”).
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, 2023, the Company had cash and cash equivalents of approximately $15.4 million, and available-for-sale securities valued at approximately $67.0 million. On August 22, 2022, the Company received net proceeds of approximately $33 million in connection with the sale of the 520 Property (see Note 3 for further details). The Company expects the balance of cash and cash equivalents, and available-for-sale securities to be sufficient to meet our obligations for at least 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 invested.
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, 2023, including revenue from discontinued operations, related parties represented 39% and 43% of the Company’s revenue, respectively, and as of April 30, 2023, there were no customers that were a concentration of the Company’s accounts receivable balance. For the three and nine months ended April 30, 2022, including revenue from discontinued operations, 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 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.
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 in accordance with ASC 321, Investments - Equity Securities
Investments - Hedge Funds	Investments - Hedge Funds The Company accounts for its investments in hedge funds in accordance with ASC 321, Investments – Equity Securities
Corporate Bonds and US Treasury Bills	Corporate Bonds and US Treasury Bills 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	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
Assets Held-for-Sale and Discontinued Operations	Assets Held-for-Sale and Discontinued Operations The Company classifies assets as held-for-sale if all held-for-sale criteria are met pursuant to ASC 360-10, Property, Plant and Equipment Strategic changes in the Company’s operations can be considered a discontinued operation if both the operations and cash flows of the discontinued component have been (or will be) eliminated from the ongoing operations of the Company and the Company will not have any significant continuing involvement in the operations of the discontinued component after the disposal transaction. The results of the discontinued operations shall be reflected as a discontinued operation on the consolidated statements of operations and comprehensive loss and prior periods shall be recast to reflect the earnings from discontinued operations. As a result of the agreement to sell the 520 Property, the accompanying consolidated financial statements reflect the activity related to the sale of the 520 Property as discontinued operations. The Company determined that the 520 Property met the held-for-sale and discontinued operations criteria as of July 1, 2022. The 520 Property was disposed of during the three months ended October 31, 2022. See Note 3 for additional information regarding the results, major classes of assets and liabilities, significant non-cash operating items, and capital expenditures of discontinued operations.
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 The revenue derived from the 520 Property, which included leasing office and parking space to the tenants, is presented within discontinued operations in the consolidated statements of operations and comprehensive loss. 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 earned revenue from parking which was derived primarily from monthly and transient daily parking. The monthly and transient daily parking revenue falls within the scope of ASC 606 and was 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
Contingencies	Contingencies The Company accrues for loss contingencies when both (a) information available prior to issuance of the financial statements indicates that it is probable that a liability had been incurred at the date of the financial statements and (b) the amount of loss can reasonably be estimated. When the Company accrues for loss contingencies and the reasonable estimate of the loss is within a range, the Company records its best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount in the range. The Company discloses an estimated possible loss or a range of loss when it is at least reasonably possible that a loss may have been incurred.
Fair Value Measurements	Fair Value Measurements Fair value of financial and non-financial assets and liabilities is defined as an exit price, which is 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. The three-tier hierarchy for inputs used to measure fair value, which prioritizes the inputs to valuation techniques used to measure fair value, is as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities; ● Level 2 - quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or ● Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.
Loss Per Share	Loss Per Share Basic 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 is determined in the same manner as basic loss per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. The Company uses income from continuing operations as the “control number” or benchmark to determine whether potential common shares are dilutive or anti-dilutive for purposes of reporting earnings (loss) per share for discontinued operations.
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. In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity
Convertible Note Receivable, Related Party	Convertible Note Receivable, Related Party The Convertible Note Receivable is classified as available-for-sale as defined under ASC 320, Investments - Debt and Equity Securities The fair value of the convertible promissory note is estimated using a scenario-based analysis based on the probability-weighted present value of future investment returns, considering each of the possible outcomes available to the Company, including cash repayment, equity conversion, and collateral transfer scenarios. Estimating the fair value of the convertible note requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors.

Description of Business (Tables

Description of Business (Tables)	9 Months Ended
	Apr. 30, 2023
Description of Business [Abstract]
Schedule of all majority-owned subsidiaries are consolidated	Company Country of Incorporation Percentage Rafael Holdings, Inc. United States – Delaware 100 % 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, Inc. 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 95 %**** Altira Capital & Consulting, LLC United States – Delaware 67 % CS Pharma Holdings, LLC United States – Delaware 45 %** * In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. ** 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. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). Refer to Note 4 for further details. *** During Fiscal 2022, the Company discontinued further material investment in Levco. **** On February 9, 2023, the Company increased its ownership interest in LipoMedix Pharmaceuticals Ltd. an additional 11% from 84% to 95%.

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Apr. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of classes of assets and liabilities	As of Current assets held-for-sale Building and Improvements $ 45,437 Land 10,412 Furniture and Fixtures 1,145 Other 205 Property and equipment 57,199 Less Accumulated Depreciation (17,005 ) Property and equipment, net 40,194 Total current assets held-for-sale 40,194 Total assets held-for-sale $ 40,194 Current liabilities held-for-sale Total current liabilities $ 15,000
Schedule of components comprising net loss	Three Months Ended 2023 2022 Revenue from discontinued operations: Rental – Third Party $ — $ 148 Rental – Related Party — 496 Parking — 155 Total revenue from discontinued operations — 799 Costs and expenses from discontinued operations: General and administrative — 604 Depreciation and amortization — 362 Loss from discontinued operations — (167 ) Interest expense — (398 ) Loss from discontinued operations $ — $ (565 ) Nine Months Ended 2023 2022 Revenue from discontinued operations: Rental – Third Party $ 68 $ 487 Rental – Related Party 115 1,665 Parking 66 518 Total revenue from discontinued operations 249 2,670 Costs and expenses from discontinued operations: General and administrative 403 2,006 Depreciation and amortization — 1,088 Loss from discontinued operations (154 ) (424 ) Interest expense (87 ) (1,192 ) Loss from discontinued operations (241 ) (1,616 ) Gain on disposal of discontinued operations 6,784 — Gain (loss) from discontinued operations $ 6,543 $ (1,616 )

Investments (Tables)

Investments (Tables)	9 Months Ended
	Apr. 30, 2023
Investments in Marketable Securities [Abstract]
Schedule of fair value for available-for-sale securities	April 30, 2023 Amortized cost Gross unrealized gains Gross unrealized (losses) Fair value (in thousands) Available-for-sale securities: Corporate bonds $ 67,249 $ 3,922 $ (4,209 ) $ 66,962 Convertible note receivable, related party 2,000 — (102 ) 1,898 Total available-for-sale securities $ 69,249 $ 3,922 $ (4,311 ) $ 68,860 July 31, 2022 Amortized cost Gross unrealized gains Gross unrealized (losses) Fair value (in thousands) Available-for-sale securities: Corporate bonds $ 36,761 $ 81 $ (144 ) $ 36,698 Total available-for-sale securities $ 36,761 $ 81 $ (144 ) $ 36,698

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis and where they are classified within the fair value hierarchy	April 30, 2023 Level 1 Level 2 Level 3 Total Assets: (in thousands) Available-for-sale securities - Corporate Bonds $ — $ 66,962 $ — $ 66,962 Hedge funds — — 4,884 4,884 Convertible note receivable, related party — — 1,898 1,898 Total $ — $ 66,962 $ 6,782 $ 73,744 July 31, 2022 Level 1 Level 2 Level 3 Total Assets: (in thousands) Available-for-sale securities - Corporate Bonds $ — $ 36,698 $ — $ 36,698 Hedge funds — — 4,764 4,764 Total $ — $ 36,698 $ 4,764 $ 41,462
Schedule of changes in the fair value of the assets measured at fair value on a recurring basis using significant unobservable inputs	Three Months Ended Nine Months Ended 2023 2022 2023 2022 (in thousands) (in thousands) Balance, beginning of period $ 5,015 $ 5,025 $ 4,764 $ 5,268 Total (loss) gain included in earnings (131 ) (341 ) 120 (584 ) Convertible note receivable, related party 2,000 — 2,000 — Total loss included in other comprehensive income (102 ) — (102 ) — Balance, end of period $ 6,782 $ 4,684 $ 6,782 $ 4,684

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Apr. 30, 2023
Trade Accounts Receivable [Abstract]
Schedule of trade accounts receivable	April 30, July 31, (in thousands) Accounts Receivable - Third Party $ 247 $ 196 Accounts Receivable - Related Party 182 158 Less Allowance for Doubtful Accounts (180 ) (197 ) Accounts Receivable, net $ 249 $ 157

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Apr. 30, 2023
Property and Equipment [Abstract]
Schedule of property and equipment	April 30, July 31, 2023 2022 (in thousands) Building and Improvements $ 2,505 $ 2,505 Other 68 68 2,573 2,573 Less Accumulated Depreciation (860 ) (803 ) Total $ 1,713 $ 1,770

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Apr. 30, 2023
Earnings Per Share [Abstract]
Schedule of basic and diluted loss per share	Three Months Ended Nine Months Ended 2023 2022 2023 2022 Shares issuable upon exercise of stock options 389,142 1,021,277 389,142 1,021,277 Shares issuable upon vesting of restricted stock 921,318 1,062,773 921,318 1,062,773 Shares issuable upon exercise of warrants to purchase Class B common stock — 26,189 — 26,189 1,310,460 2,110,239 1,310,460 2,110,239
Schedule of basic and diluted loss per share	Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss from continuing operations $ (1,490 ) $ (4,983 ) $ (9,949 ) $ (135,908 ) Net loss attributable to noncontrolling interests (53 ) (19 ) (311 ) (17,650 ) Numerator for net loss from continuing operations (1,437 ) (4,964 ) (9,638 ) (118,258 ) Numerator for discontinued operations — (565 ) 6,543 (1,616 ) Net loss attributable to Rafael Holdings, Inc. $ (1,437 ) $ (5,529 ) $ (3,095 ) $ (119,874 ) Denominator: Weighted average basic and diluted shares outstanding 23,372,136 19,759,114 23,179,364 19,472,178 Loss per share attributable to common stockholders Basic and diluted: Continuing operations $ (0.06 ) $ (0.25 ) $ (0.42 ) $ (6.07 ) Discontinued operations — (0.03 ) 0.28 (0.09 ) Total basic and diluted earnings (loss) per share $ (0.06 ) $ (0.28 ) $ (0.14 ) $ (6.16 )

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Apr. 30, 2023
Business Segment Information [Abstract]
Schedule of operating results for the business segments	(in thousands) Healthcare Real Estate Total Three Months Ended April 30, 2023 Revenues $ — $ 71 $ 71 (Loss) income from operations (3,049 ) 18 (3,031 ) (Loss) income before income taxes (1,777 ) 18 (1,759 ) Three Months Ended April 30, 2022 Revenues $ — $ 76 $ 76 (Loss) income from operations (4,704 ) 14 (4,690 ) (Loss) income before income taxes (4,995 ) 14 (4,981 ) (in thousands) Healthcare Real Estate Total Nine Months Ended April 30, 2023 Revenues $ — $ 211 $ 211 (Loss) income from operations (12,494 ) 62 (12,432 ) (Loss) income before income taxes (10,270 ) 62 (10,208 ) Nine Months Ended April 30, 2022 Revenues $ — $ 341 $ 341 (Loss) income from operations (55,795 ) 156 (55,639 ) (Loss) income before income taxes (135,483 ) 156 (135,327 )
Schedule of revenues from these non-United States customers as a percentage of total revenues	Three Months Ended April 30, 2023 2022 Revenue from tenants located in Israel 100 % 7 %
Schedule of net long-lived assets	(in thousands) United States Israel Total April 30, 2023 Property, plant, and equipment, net $ 296 $ 1,417 $ 1,713 Total assets 91,898 4,457 96,355 July 31, 2022 Property, plant, and equipment, net $ 305 $ 1,465 $ 1,770 Total assets 114,053 4,267 118,320

Equity (Tables)

Equity (Tables)	9 Months Ended
	Apr. 30, 2023
Equity [Abstract]
Schedule of stock option activity	Number of Weighted Weighted Aggregate Outstanding at July 31, 2022 1,021,277 $ 12.11 4.47 $ — Granted 175,000 2.08 9.76 — Expired (589,205 ) — — — Cancelled / Forfeited (217,930 ) — — — Outstanding at April 30, 2023 389,142 $ 14.49 8.96 $ — Exercisable at April 30, 2023 59,518 $ 22.61 8.35 $ — Number of Weighted Weighted Aggregate Outstanding at July 31, 2022 5,266 $ 3.82 9.76 $ — Granted — — — — Outstanding at April 30, 2023 5,266 $ 3.82 9.01 — Exercisable at April 30, 2023 2,633 $ 3.82 9.01 $ —
Schedule of black-scholes option pricing model	Risk-free interest rate 3.60 - 3.66 % Expected term (in years) 6.11 Expected volatility 95.00 % Expected dividend yield — %
Schedule of grants of restricted shares of Class B common stock	Number of Weighted Outstanding at July 31, 2022 1,507,373 $ 4.22 Granted 220,019 1.99 Vested (509,690 ) 3.50 Cancelled / Forfeited (296,384 ) (5.05 ) Non-vested shares at April 30, 2023 921,318 $ 3.82
Schedule of general and administrative expense	For the Three Months For the Nine Months 2023 2022 2023 2022 General and administrative $ 564 $ 928 $ 2,531 $ 16,354 Research and development 27 79 167 536 Forfeiture of RSUs within general and administrative — — (931 ) (18,978 ) Forfeiture of RSUs within research and development — — (119 ) — Net stock-based compensation expense $ 591 $ 1,007 $ 1,648 $ (2,088 )

Leases (Tables)

Leases (Tables)	9 Months Ended
	Apr. 30, 2023
Leases [Abstract]
Schedule of future contractual minimum lease payments	Year ending July 31, Related Parties Other Total (in thousands) 2023 (remaining) $ 19 $ — $ 19 2024 77 — 77 2025 78 — 78 Total Minimum Future Rental Income $ 174 $ — $ 174

Description of Business (Detail

Description of Business (Details)		9 Months Ended
	Feb. 09, 2023	Apr. 30, 2023
Description of Business (Details) [Line Items]
Outstanding capital stock percentage		51%
Capital stock percentage		42%
CS Pharma Holdings, LLC [Member]
Description of Business (Details) [Line Items]
Percentage owned		50%
Interest percentage		45%
Pharma Holdings, LLC [Member]
Description of Business (Details) [Line Items]
Percentage owned		90%
LipoMedix Pharmaceuticals Ltd. [Member]
Description of Business (Details) [Line Items]
Ownership interest	11%
LipoMedix Pharmaceuticals Ltd. [Member] | Minimum [Member]
Description of Business (Details) [Line Items]
Ownership interest	84%
LipoMedix Pharmaceuticals Ltd. [Member] | Maximum [Member]
Description of Business (Details) [Line Items]
Ownership interest	95%
LipoMedix [Member]
Description of Business (Details) [Line Items]
Investment, percentage		95%

Description of Business (Deta_2

Description of Business (Details) - Schedule of all majority-owned subsidiaries are consolidated	9 Months Ended
	Apr. 30, 2023
Rafael Realty Holdings, Inc [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Broad Atlantic Associates, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
IDT R.E. Holdings Ltd. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	Israel
Percentage Owned	100%
Rafael Holdings Realty, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Barer Institute, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%	[1]
The Barer Institute, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%	[1]
Hillview Avenue Realty, JV [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Hillview Avenue Realty, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Rafael Medical Devices, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	100%
Levco Pharmaceuticals Ltd. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	Israel
Percentage Owned	95%	[2]
Farber Partners, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	93%
Pharma Holdings, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	90%
LipoMedix Pharmaceuticals Ltd. [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	Israel
Percentage Owned	95%	[3]
Altira Capital & Consulting, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	67%
CS Pharma Holdings, LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Country of Incorporation	United States – Delaware
Percentage Owned	45%	[4]
[1] In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. During Fiscal 2022, the Company discontinued further material investment in Levco. On February 9, 2023, the Company increased its ownership interest in LipoMedix Pharmaceuticals Ltd. an additional 11% from 84% to 95%. 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. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis (excluding the remainder of the Warrant). Refer to Note 4 for further details.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 22, 2022	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Accounting Policies [Abstract]
Cash and cash equivalents (in Dollars)		$ 15.4		$ 15.4
Available-for-sale securities (in Dollars)				$ 67
Net proceeds received (in Dollars)	$ 33
Concentration risk percentage.		39%		43%	58%
One Customers [Member]
Accounting Policies [Abstract]
Concentration risk percentage.			60%
Maximum [Member]
Accounting Policies [Abstract]
Concentration risk Percentages			41%
Minimum [Member]
Accounting Policies [Abstract]
Concentration risk Percentages			36%

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands		9 Months Ended
	Aug. 22, 2022	Apr. 30, 2023	Jan. 31, 2023	Jul. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Property purchase price	$ 49,400
Note payable		$ 15,000
Net cash amount		33,000
Prepaid Expense		0
Other Current Assets				$ 150
Other assets		0		$ 1,300
Gain on disposal of discontinued operations		6,800
Gross proceeds		49,400
Carrying value of property		$ 40,200
Transaction costs			$ 1,200
Deferred rental income			$ 1,200

Discontinued Operations (Deta_2

Discontinued Operations (Details) - Schedule of classes of assets and liabilities - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Current assets held-for-sale
Building and Improvements		$ 45,437
Land		10,412
Furniture and Fixtures		1,145
Other		205
Property and equipment		57,199
Less Accumulated Depreciation		(17,005)
Property and equipment, net		40,194
Total current assets held-for-sale		40,194
Total assets held-for-sale		40,194
Current liabilities held-for-sale
Total current liabilities		$ 15,000

Discontinued Operations (Deta_3

Discontinued Operations (Details) - Schedule of components comprising net loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Revenue from discontinued operations:
Total revenue from discontinued operations		$ 799	$ 249	$ 2,670
Costs and expenses from discontinued operations:
General and administrative		604	403	2,006
Depreciation and amortization		362		1,088
Loss from discontinued operations		(167)	(154)	(424)
Interest expense		(398)	(87)	(1,192)
Loss from discontinued operations		(565)	(241)	(1,616)
Gain on disposal of discontinued operations			6,784
Gain (loss) from discontinued operations			6,543	(1,616)
Parking [Member]
Revenue from discontinued operations:
Total revenue from discontinued operations		155	66	518
Rental – Third Party [Member]
Revenue from discontinued operations:
Total revenue from discontinued operations		148	68	487
Rental – Related Party [Member]
Revenue from discontinued operations:
Total revenue from discontinued operations		$ 496	$ 115	$ 1,665

Investment in Cornerstone Pha_2

Investment in Cornerstone Pharmaceuticals (Details) - USD ($) $ in Thousands, shares in Millions				1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 01, 2021	Mar. 25, 2020	Jan. 31, 2019	Oct. 28, 2021	Sep. 24, 2021	Apr. 30, 2022	Oct. 31, 2021	Apr. 30, 2023	Apr. 30, 2022	Feb. 09, 2023
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary								50%
Principal amount			$ 10,000
Total impairment loss								$ 17,300
Noncontrolling interests								79,100		$ 16
Interest amount								$ 10,400
Rafael Pharmaceuticals [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in non-operating subsidiary								90%
Fully diluted								10%
Percentage of outstanding capital stock								51%
Percentage of outstanding capital stock on fully diluted basis								42%
Impairment charge				$ 79,100
CS Pharma Holdings, LLC [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Ownership percentage in subsidiary and holds percentage of interest								50%
Indirect interest in assets held, percentage								45%
Fully diluted								10%
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%
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. 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. 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.
Exercise of warrants purchases, description		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.
Aggregate amount					$ 25,000
Agreement accrues interest per annum								9%
Reserve amount							$ 25,000
Other amounts						$ 500			$ 2,000
CS Pharma and Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Interest amount								$ 6,900
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 of 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			16.7
Howard Jonas [Member] | Rafael Pharmaceuticals [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Fully diluted								10%
First Advance [Member] | Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Advance amount of debtor					$ 1,900
Second Advance [Member] | Pharma Holdings [Member]
Investment in Cornerstone Pharmaceuticals (Details) [Line Items]
Advance amount of debtor	$ 23,100

Convertible Note Receivable, _2

Convertible Note Receivable, Related Party (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2023	Apr. 30, 2023	Mar. 21, 2023
Table Text Block Supplement [Abstract]
Principal amount			$ 2,000
Rate of promissory note		7.50%
Extension of promissory note		11%
Maturity date	May 22, 2023	May 22, 2023
Bearing interest rate	14%	14%
Conversion into equity securities
Interest rat	18%	18%
Fair value	$ 102	$ 102
Interest income	$ 16	$ 16

Investment in RP Finance, LLC (

Investment in RP Finance, LLC (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Oct. 31, 2021	Apr. 30, 2023	Apr. 30, 2022	Jul. 31, 2022	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			$ 5,000			$ 5,000	$ 10,000	$ 10,000	$ 5,000
Income from interest	0	$ 575
Percentage of ownership interest				37.50%
Cumulative funds description				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			$ 5,000			$ 5,000
Percentage of issued and outstanding shares	12%			12%
Related party receivable					$ 9,375
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 RPF Line of Credit. The Instrument 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 RPF Line of Credit. The remaining 25% equity interests in RP Finance are owned by other stockholders of Cornerstone Pharmaceuticals.
RP Finance [Member]
Investment in RP Finance, LLC (Details) [Line Items]
Income from interest				$ 0
Percentage of ownership interest				37.50%
Equity loss			$ 575
Equity method investment	$ 0			$ 0		$ 0

Investment in LipoMedix Pharm_2

Investment in LipoMedix Pharmaceuticals Ltd. (Details) - USD ($)									1 Months Ended	9 Months Ended
	Jun. 01, 2023	May 02, 2023	Apr. 07, 2023	Feb. 09, 2023	Feb. 09, 2023	Nov. 11, 2022	Nov. 15, 2021	Sep. 01, 2021	Mar. 31, 2021	Apr. 30, 2023
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Issued and outstanding ordinary shares, percentage			38%							95%
Interest rate increase								15%
Ordinary shares (in Shares)			4,302,224	70,000,000	70,000,000		15,975,000
Exercise price			$ 3,000,000		$ 0.03		$ 0.1878
Aggregate purchase price	$ 5,000,000	$ 2,100,000		$ 2,100,000	2,100,000		$ 3,000,000
Noncontrolling interest										$ 8,000
Carrying amount of noncontrolling interest				$ 16,000	$ 16,000					$ 79,100,000
Lipomedix Pharmaceuticals Ltd. [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Principal amount									$ 400,000
Interest rate									8%
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
Warrant [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Ordinary shares (in Shares)						15,975,000
Exercise price			7,528,893			$ 0.1878
Aggregate purchase price			$ 3,000,000
Maximum [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Percentage of noncontrolling interest					95%					84%
Minimum [Member]
Investment in LipoMedix Pharmaceuticals Ltd. (Details) [Line Items]
Percentage of noncontrolling interest					5%					16%

Investment in Day Three Labs _2

Investment in Day Three Labs Inc. (Details) - USD ($)								9 Months Ended
	Jun. 01, 2023	May 02, 2023	Apr. 07, 2023	Feb. 09, 2023	Feb. 09, 2023	Nov. 11, 2022	Nov. 15, 2021	Apr. 30, 2023
Investment in Day Three Labs Inc. (Details) [Line Items]
Shares, Issued			4,302,224	70,000,000	70,000,000		15,975,000
Issued and outstanding ordinary shares, percentage			38%					95%
Diluted basis share percentage			33.333%
Purchase price			$ 3,000,000		$ 0.03		$ 0.1878
Aggregate purchase price	$ 5,000,000	$ 2,100,000		$ 2,100,000	$ 2,100,000		$ 3,000,000
Issuance expires term			5 years
Ownership interest percentage								38%
Warrant [Member]
Investment in Day Three Labs Inc. (Details) [Line Items]
Shares, Issued						15,975,000
Purchase price			$ 7,528,893			$ 0.1878
Aggregate purchase price			$ 3,000,000

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 30, 2023	Apr. 30, 2023
Investments in Marketable Securities [Abstract]
Unrealized losses out of accumulated other comprehensive loss	$ 0	$ 154

Investments (Details) - Schedul

Investments (Details) - Schedule of fair value for available-for-sale securities - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Apr. 30, 2023	Jul. 31, 2022
Corporate Bonds [Member]
Available-for-sale securities:
Amortized cost	$ 67,249	$ 36,761
Gross unrealized gains	3,922	81
Gross unrealized (losses)	(4,209)	(144)
Fair value	66,962	36,698
Convertible Note Receivable, Related Party [Member]
Available-for-sale securities:
Amortized cost	2,000
Gross unrealized gains
Gross unrealized (losses)	(102)
Fair value	1,898
Total Available-for-Sale Securities [Member]
Available-for-sale securities:
Amortized cost	69,249	36,761
Gross unrealized gains	3,922	81
Gross unrealized (losses)	(4,311)	(144)
Fair value	$ 68,860	$ 36,698

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Fair Value Disclosures [Abstract]
Investments in securities	$ 100,000		$ 100,000
Impairment loss	$ 128,000	$ 0	$ 351,000	$ 0

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, 2023	Jul. 31, 2022
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 - U.S. Treasury Bills	$ 66,962	$ 36,698
Hedge funds	4,884	4,764
Convertible note receivable, related party	1,898
Total	73,744	41,462
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 - U.S. Treasury Bills
Hedge funds
Convertible note receivable, related party
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 - U.S. Treasury Bills	66,962	36,698
Hedge funds
Convertible note receivable, related party
Total	66,962	36,698
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 - U.S. Treasury Bills
Hedge funds	4,884	4,764
Convertible note receivable, related party	1,898
Total	$ 6,782	$ 4,764

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 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of period	$ 5,015	$ 5,025	$ 4,764	$ 5,268
Total (loss) gain included in earnings	(131)	(341)	120	(584)
Convertible note receivable, related party	2,000		2,000
Total loss included in other comprehensive income	(102)		(102)
Balance, end of period	$ 6,782	$ 4,684	$ 6,782	$ 4,684

Accounts Receivable (Details) -

Accounts Receivable (Details) - Schedule of trade accounts receivable - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Schedule of Trade Accounts Receivable [Abstract]
Accounts Receivable - Third Party	$ 247	$ 196
Accounts Receivable - Related Party	182	158
Less Allowance for Doubtful Accounts	(180)	(197)
Accounts Receivable, net	$ 249	$ 157

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Property and Equipment (Details) [Line Items]
Depreciation expense			$ 60	$ 54
Property and Equipment [Member]
Property and Equipment (Details) [Line Items]
Depreciation expense	$ 19	$ 17

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - Property and Equipment [Member] - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Property, Plant and Equipment [Line Items]
Building and Improvements	$ 2,505	$ 2,505
Other	68	68
Property and equipment, gross	2,573	2,573
Less Accumulated Depreciation	(860)	(803)
Total	$ 1,713	$ 1,770

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of dilutive loss per share - shares	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Schedule of Dilutive Loss Per Share [Abstract]
Shares issuable upon exercise of stock options	389,142	1,021,277	389,142	1,021,277
Shares issuable upon vesting of restricted stock	921,318	1,062,773	921,318	1,062,773
Shares issuable upon exercise of warrants to purchase Class B common stock		26,189		26,189
Total	1,310,460	2,110,239	1,310,460	2,110,239

Loss Per Share (Details) - Sc_2

Loss Per Share (Details) - Schedule of basic and diluted loss per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Numerator:
Net loss from continuing operations	$ (1,490)	$ (4,983)	$ (9,949)	$ (135,908)
Net loss attributable to noncontrolling interests	(53)	(19)	(311)	(17,650)
Numerator for net loss from continuing operations	(1,437)	(4,964)	(9,638)	(118,258)
Numerator for discontinued operations		(565)	6,543	(1,616)
Net loss attributable to Rafael Holdings, Inc.	$ (1,437)	$ (5,529)	$ (3,095)	$ (119,874)
Denominator:
Weighted average basic and diluted shares outstanding (in Shares)	23,372,136	19,759,114	23,179,364	19,472,178
Basic and diluted:
Continuing operations - basic and diluted (in Dollars per share)	$ (0.06)	$ (0.25)	$ (0.42)	$ (6.07)
Discontinued operations - basic and diluted (in Dollars per share)		(0.03)	0.28	(0.09)
Total basic and diluted earnings (loss) per share (in Dollars per share)	$ (0.06)	$ (0.28)	$ (0.14)	$ (6.16)

Loss Per Share (Details) - Sc_3

Loss Per Share (Details) - Schedule of basic and diluted loss per share (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Schedule of basic and diluted loss per share [Abstract]
Weighted average diluted shares outstanding (in Shares)	23,372,136	19,759,114	23,179,364	19,472,178
Continuing operations - basic and diluted	$ (0.06)	$ (0.25)	$ (0.42)	$ (6.07)
Discontinued operations - basic and diluted		(0.03)	0.28	(0.09)
Diluted earnings (loss) per share (in Dollars per share)	$ (0.06)	$ (0.28)	$ (0.14)	$ (6.16)

Note Payable, Held-For-Sale (De

Note Payable, Held-For-Sale (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		9 Months Ended
	Jul. 29, 2022	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Apr. 30, 2023	Apr. 30, 2022	Aug. 22, 2022	Jul. 09, 2021
Note Payable, Held-For-Sale [Abstract]
Note payable								$ 87,000	$ 15,000
Note payable bears interest rate, description						The Note Payable bore interest at a rate per annum equal to seven and one-quarter percent (7.25%) from July 9, 2021 through July 31, 2021 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 was 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.
Paid extension fee	$37,500
Outstanding principal balance								$ 15,000
Interest expense		$ 0	$ 87	$ 273	$ 817
Unamortized debt issuance costs						$ 0	$ 97
Amortization of the debt discount		$ 0	$ 125			$ 0	$ 375

Related Party Transactions (Det

Related Party Transactions (Details)								1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 01, 2023 USD ($)	May 02, 2023 USD ($)	Feb. 09, 2023 USD ($) $ / shares	Feb. 09, 2023 USD ($) $ / shares shares	Jul. 06, 2022 USD ($) $ / shares shares	Jun. 06, 2022 $ / shares	Nov. 15, 2021 USD ($)	Nov. 15, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Apr. 30, 2023 USD ($) ft² shares	Apr. 30, 2022 USD ($)	Apr. 30, 2023 USD ($) ft² shares	Apr. 30, 2022 USD ($)	Jul. 31, 2022 USD ($) shares	May 22, 2023 USD ($)
Related Party Transactions (Details) [Line Items]
Related party expenses										$ 53,000	$ 92,000	$ 140,000	$ 248,000
Due to related parties										$ 0		$ 0		$ 69,000
Area of land (in Square Feet) | ft²										80,000		80,000
Rent and parking expenses												$ 102,000	1,000
Rent and parking expense											$ 147,000	184,000	1,000
Due from related parties												40,000	$ 67,000
Related party receivables										$ 720,000		$ 720,000
Accrued interest															$ 2,000,000
Total revenue percentage										39%	60%	43%	58%
Company recognized										$ 0
Ownership interests											37.50%
Recognized loss of earnings												$ 0	$ 575,000
Income percentage				95%
Common stock for consideration													$ (6,228,000)
Warrants percentage									20%
Exercise price (in Dollars per share) | $ / shares						$ 22.91
Price per share (in Dollars per share) | $ / shares					$ 1.86
Aggregate sale price					$ 6,000,000
Ordinary shares, purchased (in Shares) | shares				70,000,000
Ordinary shares, price per share (in Dollars per share) | $ / shares			$ 0.03	$ 0.03
Aggregate purchase price	$ 5,000,000	$ 2,100,000	$ 2,100,000	$ 2,100,000			$ 3,000,000
Carrying amount of the noncontrolling interest			$ 16,000	$ 16,000
LipoMedix [Member]
Related Party Transactions (Details) [Line Items]
Noncontrolling interest percentage			5%	5%
Israel [Member]
Related Party Transactions (Details) [Line Items]
Area of land (in Square Feet) | ft²										3,600		3,600
Class B Common Stock [Member]
Related Party Transactions (Details) [Line Items]
Shares issued (in Shares) | shares					3,225,806					23,636,084		23,636,084		23,712,449
RP Finance [Member]
Related Party Transactions (Details) [Line Items]
Income percentage								84%					37.50%
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 Owed [Member]
Related Party Transactions (Details) [Line Items]
Rent and parking expenses												$ 181,000		$ 157,000
Rafael Pharmaceuticals [Member]
Related Party Transactions (Details) [Line Items]
Due from related parties												120,000
Due from owed amount										$ 720,000		$ 720,000		$ 720,000
LipoMedix Pharmaceuticals, Ltd. [Member]
Related Party Transactions (Details) [Line Items]
Due from owed amount							3,000,000	$ 3,000,000
Accrued interest							21,800	21,800
Outstanding loan balance							400,000	400,000
Cash payment							$ 2,600,000	$ 2,600,000
Purchased shares (in Shares) | shares								15,975,000
Noncontrolling Interest Percentage								16%
IDT [Member]
Related Party Transactions (Details) [Line Items]
Rent and parking expenses										$ 28,000
IDT [Member]
Related Party Transactions (Details) [Line Items]
Rent and parking expenses											$ 147,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Taxes [Abstract]
Income tax provision	$ 269	$ 1,800	$ 259	$ 10,200
Before income tax	(2)	$ 5,000	6	$ 135,300
Approximately	$ 274		$ 274

Business Segment Information (D

Business Segment Information (Details) - Schedule of operating results for the business segments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 71	$ 76	$ 211	$ 341
(Loss) income from operations	(3,031)	(4,690)	(12,432)	(55,639)
(Loss) income before income taxes	(1,759)	(4,981)	(10,208)	(135,327)
Healthcare [Member]
Segment Reporting Information [Line Items]
Revenues
(Loss) income from operations	(3,049)	(4,704)	(12,494)	(55,795)
(Loss) income before income taxes	(1,777)	(4,995)	(10,270)	(135,483)
Real Estate [Member]
Segment Reporting Information [Line Items]
Revenues	71	76	211	341
(Loss) income from operations	18	14	62	156
(Loss) income before income taxes	$ 18	$ 14	$ 62	$ 156

Business Segment Information _2

Business Segment Information (Details) - Schedule of revenues from these non-United States customers as a percentage of total revenues	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Segment Reporting Information [Line Items]
Revenue from tenants located in Israel	100%	7%

Business Segment Information _3

Business Segment Information (Details) - Schedule of net long-lived assets - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Long-lived assets, net	$ 1,713	$ 1,770
Total assets	96,355	118,320
United States [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	296	305
Total assets	91,898	114,053
Israel [Member]
Segment Reporting Information [Line Items]
Long-lived assets, net	1,417	1,465
Total assets	$ 4,457	$ 4,267

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	1 Months Ended
	Dec. 31, 2022 USD ($)
Commitments and Contingencies [Abstract]
Vendor payment	$ 113,000

Equity (Details)

Equity (Details) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

Jun. 01, 2023

Nov. 28, 2022

Jun. 14, 2022

Feb. 01, 2022

Jan. 19, 2022

Jun. 01, 2021

Jan. 31, 2023

Aug. 24, 2021

Apr. 30, 2023

Jan. 31, 2023

Apr. 30, 2022

Jan. 31, 2023

Jan. 31, 2022

Apr. 30, 2023

Apr. 30, 2022

Aug. 19, 2021

May 27, 2021

Equity (Details) [Line Items]

Authorizing the repurchase (in Dollars)

$ 5,000,000

$ 5,000,000

Purchased per share (in Dollars per share)

$ 1.75

$ 1.75

Restricted stock units, description

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.

Options were granted

175,000

Additional shares

4,000,000

Common stock shares issued

928,812

Total unrecognized compensation cost (in Dollars)

$ 7,000

$ 7,000

Recognized compensation cost over next period

1 year 8 months 8 days

Options granted (in Dollars per share)

$ 1.58

Restricted shares granted

33,360

Share based compensation cost (in Dollars)

591,000

$ 1,007,000

$ 1,648,000

$ (2,088,000)

Restricted stock

452,130

986,835

120,019

Restricted shares percentage

24%

Restricted stock

100,000

Forfeited shares

296,384

Cancellation of restricted stock

285,036

Selling amount (in Dollars)

$ 307,913

307,913

Stock based compensation (in Dollars)

$ 915,000

Compensation expense (in Dollars)

19,000,000

Employment agreement (in Dollars)

$ 5,000,000

5,000,000

Stock Options [Member]

Equity (Details) [Line Items]

Total unrecognized compensation cost (in Dollars)

1,400,000

$ 1,400,000

Recognized compensation cost over next period

3 years 4 months 24 days

Restricted Stock [Member]

Equity (Details) [Line Items]

Total unrecognized compensation cost (in Dollars)

$ 2,100,000

$ 2,100,000

Recognized compensation cost over next period

4 years

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

2022 Plan [Member]

Equity (Details) [Line Items]

Common stock shares issued

10,000

Issuance of shares

4,734

4,734

2018 Equity Incentive Plan [Member]

Equity (Details) [Line Items]

Share based compensation cost (in Dollars)

$ 151,000

Class B common stock

Equity (Details) [Line Items]

Authorizing the repurchase (in Dollars)

$ 5,000,000

$ 5,000,000

Sale of common stock (in Dollars)

$ 250,000,000

Sale of stock issued

1,919,025

48,859

Share issued

112,501

Share per price (in Dollars per share)

$ 44.42

Additional shares

696,770

Class B common stock | 2021 Plan [Member]

Equity (Details) [Line Items]

Common stock shares issued

2,615,795

Grant to Board of Directors [Member]

Equity (Details) [Line Items]

Restricted shares granted

18,336

Grant to Board of Directors [Member] | 2018 Equity Incentive Plan [Member]

Equity (Details) [Line Items]

Restricted shares granted

15,024

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock option activity	9 Months Ended
	Apr. 30, 2023 USD ($) $ / shares shares
Equity (Details) - Schedule of stock option activity [Line Items]
Number of Options, Outstanding, Beginning balance | shares	1,021,277
Weighted Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 12.11
Weighted Average Remaining Contractual Term (in years), Outstanding, Beginning balance	4 years 5 months 19 days
Aggregate Intrinsic Value, Outstanding, Beginning balance | $
Number of Options, Granted | shares	175,000
Weighted Average Exercise Price, Granted | $ / shares	$ 2.08
Weighted Average Remaining Contractual Term (in years), Granted	9 years 9 months 3 days
Aggregate Intrinsic Value, Outstanding, Granted | $
Number of Options, Expired | shares	(589,205)
Weighted Average Exercise Price, Expired | $ / shares
Weighted Average Remaining Contractual Term (in years), Expired
Aggregate Intrinsic Value, Outstanding, Expired | $
Number of Options, Cancelled / Forfeited | shares	(217,930)
Weighted Average Exercise Price, Cancelled / Forfeited | $ / shares
Weighted Average Remaining Contractual Term (in years), Cancelled / Forfeited
Aggregate Intrinsic Value, Cancelled / Forfeited | $
Number of Options, Outstanding, Ending balance | shares	389,142
Weighted-Average Exercise Price, Outstanding, Ending balance | $ / shares	$ 14.49
Weighted-Average Remaining Contractual Term, Outstanding, Ending balance	8 years 11 months 15 days
Aggregate Intrinsic Value, Outstanding, Ending balance | $
Number of Options, Exercisable | shares	59,518
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 22.61
Weighted-Average Remaining Contractual Term, Outstanding, Exercisable	8 years 4 months 6 days
Aggregate Intrinsic Value, Outstanding, Exercisable | $
Rafael Medical Devices, LLC [Member]
Equity (Details) - Schedule of stock option activity [Line Items]
Number of Options, Outstanding, Beginning balance | shares	5,266
Weighted Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 3.82
Weighted Average Remaining Contractual Term (in years), Outstanding, Beginning balance	9 years 9 months 3 days
Aggregate Intrinsic Value, Outstanding, Beginning balance | $
Number of Options, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Weighted Average Remaining Contractual Term (in years), Granted
Aggregate Intrinsic Value, Outstanding, Granted | $
Number of Options, Outstanding, Ending balance | shares	5,266
Weighted-Average Exercise Price, Outstanding, Ending balance | $ / shares	$ 3.82
Weighted-Average Remaining Contractual Term, Outstanding, Ending balance	9 years 3 days
Aggregate Intrinsic Value, Outstanding, Ending balance | $
Number of Options, Exercisable | shares	2,633
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 3.82
Weighted-Average Remaining Contractual Term, Outstanding, Exercisable	9 years 3 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, 2023
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Expected term (in years)	6 years 1 month 9 days
Expected volatility	95%
Expected dividend yield
Minimum [Member]
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Risk-free interest rate	3.60%
Maximum [Member]
Equity (Details) - Schedule of Black-Scholes option pricing model [Line Items]
Risk-free interest rate	3.66%

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of grants of restricted shares of Class B common stock	9 Months Ended
	Apr. 30, 2023 $ / shares shares
Schedule of Grants of Restricted Shares of Class B Common Stock [Abstract]
Number of Non-vested Shares, Outstanding beginning balance | shares	1,507,373
Weighted Average Grant Date Fair Value, Outstanding beginning balance | $ / shares	$ 4.22
Number of Non-vested Shares, Granted | shares	220,019
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 1.99
Number of Non-vested Shares, Vested | shares	(509,690)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 3.5
Number of Non-vested Shares, Cancelled / Forfeited | shares	(296,384)
Weighted Average Grant Date Fair Value, Cancelled / Forfeited | $ / shares	$ (5.05)
Number of Non-vested Shares, Ending Balance | shares	921,318
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 3.82

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of general and administrative expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Schedule of General and Administrative Expense [Abstract]
General and administrative	$ 564	$ 928	$ 2,531	$ 16,354
Research and development	27	79	167	536
Forfeiture of RSUs within general and administrative			(931)	(18,978)
Forfeiture of RSUs within research and development			(119)
Net stock-based compensation expense	$ 591	$ 1,007	$ 1,648	$ (2,088)

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Leases [Abstract]
Net operating leases with initial term expiration dates, description			The Company is the lessor of the Israeli property which is leased to tenants under net operating leases with a term expiration date within 2025.
Comprehensive loss	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Leases (Details) - Schedule of

Leases (Details) - Schedule of future contractual minimum lease payments $ in Thousands	Jul. 31, 2022 USD ($)
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2023 (remaining)	$ 19
2024	77
2025	78
Total Minimum Future Rental Income	174
Related Parties [Member]
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2023 (remaining)	19
2024	77
2025	78
Total Minimum Future Rental Income	174
Other [Member]
Leases (Details) - Schedule of future contractual minimum lease payments [Line Items]
2023 (remaining)
2024
2025
Total Minimum Future Rental Income

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jun. 01, 2023	May 02, 2023	Feb. 09, 2023	Feb. 09, 2023	Nov. 15, 2021
Subsequent Events (Details) [Line Items]
Purchase price per share		$ 0.835
Aggregate purchase price	$ 5,000,000	$ 2,100,000	$ 2,100,000	$ 2,100,000	$ 3,000,000
Purchase of common stock share	4,000,000
Additional shares	4,000,000
Exercise price	$ 1.25
Exercisable period	7 years
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Share purchase agreement		2,514,970
Common stock price per share		$ 2,514,970
Sale price		$ 710,000