Non-Invasive Monitoring Systems (NIMU) 10-Q 15 Dec 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Oct. 31, 2014	Dec. 14, 2014
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Oct-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	NON INVASIVE MONITORING SYSTEMS INC /FL/
Entity Central Index Key	720762
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Trading Symbol	NIMU
Entity Common Stock, Shares Outstanding		79,007,423

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Current assets
Cash	$42	$21
Inventories, net	455	455
Prepaid expenses, deposits, and other current assets	37	49
Total current assets	534	525
Tooling and equipment, net	1	1
Total assets	535	526
Current liabilities
Notes payable - Related party	1,200	1,150
Notes payable - other	50	50
Accounts payable and accrued expenses	973	909
Customer deposits	4	4
Total current liabilities	2,227	2,113
Total liabilities	2,227	2,113
Shareholders' deficit
Common Stock, par value $0.01 per share; 400,000,000 shares authorized; 79,007,423 and 78,942,423 shares issued and outstanding as of October 31, 2014 and July 31, 2014, respectively	790	789
Additional paid in capital	21,930	21,931
Accumulated deficit	-24,428	-24,323
Accumulated other comprehensive loss	-49	-49
Total shareholders' deficit	-1,692	-1,587
Total liabilities and shareholders' deficit	535	526
Series B Preferred Stock [Member]
Shareholders' deficit
Preferred Stock, Value, Issued	0	0
Total shareholders' deficit	0	0
Series C Preferred Stock [Member]
Shareholders' deficit
Preferred Stock, Value, Issued	62	62
Total shareholders' deficit	62	62
Series D Preferred Stock [Member]
Shareholders' deficit
Preferred Stock, Value, Issued	3	3
Total shareholders' deficit	$3	$3

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, except Share data, unless otherwise specified
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	79,007,423	78,942,423
Common stock, shares outstanding	79,007,423	78,942,423
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, shares authorized	100	100
Preferred stock, shares issued	100	100
Preferred stock, shares outstanding	100	100
Preferred stock, liquidation preference	$10	$10
Series C Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, shares authorized	62,048	62,048
Preferred stock, shares issued	62,048	62,048
Preferred stock, shares outstanding	62,048	62,048
Preferred stock, liquidation preference	62	62
Series D Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, shares authorized	5,500	5,500
Preferred stock, shares issued	2,782	2,795
Preferred stock, shares outstanding	2,782	2,795
Preferred stock, liquidation preference	$4,174	$4,174

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Revenues
Product sales, net	$0	$0
Royalties	0	1
Total revenues	0	1
Operating costs and expenses
Cost of sales	0	0
Selling, general and administrative	71	85
Research and development	0	1
Total operating costs and expenses	71	86
Operating loss	-71	-85
Other expense
Interest expense, net	-34	-33
Total other expense	-34	-33
Net loss	-105	-118
Comprehensive net loss	-105	-118
Net loss attributable to common shareholders	($105)	($118)
Weighted average number of common shares outstanding - basic and diluted	78,943	78,942
Basic and diluted loss per common share	$0	$0

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT (USD $)	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Series D Preferred Stock [Member]
In Thousands, except Share data
Balance at Jul. 31, 2014	($1,587)	$789	$21,931	($24,323)	($49)	$0	$62	$3
Balance, shares at Jul. 31, 2014		78,942,423				100	62,048	2,795
Conversion of Preferred Stock to Common Stock (in shares)		65,000				0	0	-13
Conversion of Preferred Stock to Common Stock	0	1	-1	0	0	0	0	0
Net loss	-105	0	0	-105	0	0	0	0
Balance at Oct. 31, 2014	($1,692)	$790	$21,930	($24,428)	($49)	$0	$62	$3
Balance, shares at Oct. 31, 2014		79,007,423				100	62,048	2,782

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Oct. 31, 2013
Operating activities
Net loss	($105)	($118)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	0	2
Stock-based compensation expense	0	1
Changes in operating assets and liabilities
Accounts and royalties receivable, net	0	0
Inventories, net	0	1
Prepaid expenses, deposits and other current assets	12	13
Accounts payable and accrued expenses	64	-8
Net cash used in operating activities	-29	-109
Financing activities
Proceeds from notes payable - related party	50	0
Net cash provided by financing activities	50	0
Net increase (decrease) in cash	21	-109
Cash, beginning of period	21	296
Cash, end of period	$42	$187

ORGANIZATION_AND_BUSINESS

ORGANIZATION AND BUSINESS	3 Months Ended
	Oct. 31, 2014
Organization and Business [Abstract]
ORGANIZATION AND BUSINESS	1.                  ORGANIZATION AND BUSINESS
	Organization. Non-Invasive Monitoring Systems, Inc., a Florida corporation (together with its consolidated subsidiaries, the “Company” or “NIMS”), began business as a medical diagnostic monitoring company to develop computer-aided continuous monitoring devices to detect abnormal respiratory and cardiac events using sensors on the human body’s surface. It has ceased to operate in this market and has licensed the rights to its technology. The Company now focuses on developing and marketing its Exer-Rest® line of acceleration therapeutic platforms based upon unique, patented whole body periodic acceleration (“WBPA”) technology. The Exer-Rest line of acceleration therapeutic platforms currently includes the Exer-Rest AT3800 and AT4700 models.
	Business. The Company is developing and marketing its Exer-Rest® line of acceleration therapeutic platforms based upon unique, patented whole body periodic acceleration (“WBPA”) technology. The Exer-Rest line of acceleration therapeutic platforms currently includes the Exer-Rest AT3800 and AT4700 models.
	The Company received revenue from royalties on sales of diagnostic monitoring hardware and software by SensorMedics and from VivoMetrics in prior years. SensorMedics indicated they will discontinue licensed product sales after current inventory is depleted and, therefore, the royalty revenue from SensorMedics is expected to be minimal to none. VivoMetrics ceased operations in July 2009 and filed for Chapter 11 bankruptcy protection in October 2009. Pursuant to VivoMetrics’ approved bankruptcy plan of reorganization, our license with VivoMetrics was assigned to another company; however, there can be no assurance as to the future amount of royalty revenue, if any, that we may derive from this license or from our existing license with SensorMedics. In fiscal year 2009, NIMS began commercial sales of its third generation Exer-Rest therapeutic platforms.
	During the calendar years 2005 to 2007, the Company designed, developed and manufactured the first Exer-Rest platform (now the Exer-Rest AT), a second generation acceleration therapeutics platform, and updated its operations to promote the Exer-Rest AT overseas as an aid to improve circulation and joint mobility and to relieve minor aches and pains.
	The Company has developed a third generation of Exer-Rest acceleration therapeutic platforms (designated the Exer-Rest AT3800 and the Exer-Rest AT4700) that had been manufactured by Sing Lin Technologies Co. Ltd. (“Sing Lin”) based in Taichung, Taiwan (see Note 10).
	The Company’s condensed consolidated financial statements have been prepared and presented on a basis assuming it will continue as a going concern. As reflected in the accompanying unaudited condensed consolidated financial statements, the Company had net losses of $105,000 and $118,000 for the three month periods ended October 31, 2014 and 2013, respectively, and has experienced cash outflows from operating activities. The Company also has an accumulated deficit of $24.4 million as of October 31, 2014, and has potential purchase obligations at October 31, 2014 (see note 10). The Company had $42,000 of cash at October 31, 2014 and negative working capital of approximately $1,693,000.
	Absent any significant revenues from product sales, the Company will likely need to incur additional debt, equity financing or a strategic collaboration for the Company to continue its business activities. Management intends to obtain any additional capital needed to continue its business activities through new debt or equity financing, but there can be no assurance that it will be successful in this regard. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary from the outcome of this uncertainty.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Oct. 31, 2014
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2.                  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Consolidation.The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Non-Invasive Monitoring Systems of Florida, Inc., which has no current operations, and NIMS of Canada, Inc., a Canadian corporation, which has no current operations. All material inter-company accounts and transactions have been eliminated in consolidation.
	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions, such as accounts receivable, stock based compensation, warranty accrual and deferred taxes as estimates, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Such items include input variables for stock based compensation, accounts receivable, warranty accrual and deferred taxes. Actual results could differ materially from these estimates.
	Cash and Cash Equivalents. The Company considers all highly liquid short-term investments purchased with an original maturity date of three months or less to be cash equivalents. The Company had approximately $42,000 and $21,000 on deposit in bank operating accounts at October 31, 2014 and July 31, 2014, respectively.
	Allowances for Doubtful Accounts. Royalties and other receivables are recorded at the stated amount of the transactions. The Company provides an allowance for royalties and other receivables it believes it may not collect in full. Receivables are written off when they are deemed to be uncollectible and all collection attempts have ceased. The amount of bad debt recorded each period and the resulting adequacy of the allowance at the end of each period are determined using a combination of the Company’s historical loss experience, customer-by-customer analysis of the Company’s accounts receivable each period and subjective assessments of the Company’s future bad debt exposure.
	Inventories. Inventories are stated at lower of cost or market using the first-in, first-out method, and are evaluated at least annually for impairment. Inventories at October 31, 2014 and July 31, 2014 primarily consisted of finished Exer-Rest units and accessories. Provisions for potentially obsolete or slow-moving inventory are made based on management’s analysis of inventory levels, historical obsolescence and future sales forecasts.
	Tooling and Equipment. These assets are stated at cost and depreciated or amortized using the straight-line method, over their estimated useful lives.
	Long-lived Assets. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In performing the review for recoverability, the Company estimates the future undiscounted cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the expected future cash flows is less than the carrying amount of the assets, an impairment loss is recognized as the difference between the fair value and the carrying amount of the asset.
	Taxes Assessed on Revenue-Producing Transactions. The Company presents sales taxes assessed on revenue-producing transactions between a seller and customer using the net presentation; thus, sales and cost of revenues are not affected by such taxes.
	Income Taxes. The Company provides for income taxes using an asset and liability based approach. Deferred income tax assets and liabilities are recorded to reflect the tax consequences in future years of temporary differences between the carrying amounts of assets and liabilities for financial statement and income tax purposes. The deferred tax asset for loss carryforwards and other potential future tax benefits has been fully offset by a valuation allowance since it is uncertain whether any future benefit will be realized. The utilization of the loss carryforward is limited to future taxable earnings of the Company and may be subject to severe limitations if the Company undergoes an ownership change pursuant to the Internal Revenue Code Section 382. Tax years ranging from 2011 to 2014 remain open to examination by various taxing jurisdictions as the statute of limitations has not expired. It is the Company’s policy to include income tax interest and penalty expense in its tax provision.
	Revenue Recognition. Revenue from product sales is recognized when persuasive evidence of an arrangement exists, the goods are shipped and title has transferred, the price is fixed or determinable, and the collection of the sales proceeds is reasonably assured. The Company recognizes royalties as they are earned, based on reports from licensees. Research and consulting revenue and revenue from sales of extended warranties on therapeutic platforms are recognized over the term of the respective agreements.
	Advertising Costs. The Company expenses all costs of advertising and promotions as incurred. There were no advertising and promotional costs incurred for the three months ended October 31, 2014 and 2013.
	Research and Development Costs. Research and development costs are expensed as incurred, and primarily consist of payments to third parties for research and development of the Exer-Rest device and regulatory testing and other costs to obtain FDA approval.
	Warranties. The Company’s warranties are two years on all Exer-Rest products sold domestically and one year for products sold outside of the U.S. and are accrued based on management’s estimates and the history of warranty costs incurred. There were no material warranty costs incurred during the three months ended October 31, 2014 and 2013, and management estimates that the Company’s accrued warranty expense at October 31, 2014 will be sufficient to offset claims made for units under warranty.
	Stock-based compensation. The Company recognizes all share-based payments, including grants of stock options, as operating expenses, based on their grant date fair values. Stock-based compensation expense is recognized over the vesting life of the underlying stock options and is included in selling, general and administrative costs and expenses in the condensed consolidated comprehensive statements of operations for all periods presented.
	Fair Value of Financial Instruments. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of October 31, 2014 and July 31, 2014. The respective carrying value of certain on-balance-sheet financial instruments such as cash, royalties and other receivables, accounts payable and accrued expenses approximate fair values because they are short term in nature or they bear current market interest rates.
	As of October 31, 2014, the respective carrying value of the notes payable – related party and notes payable – other approximate our current borrowing rate for similar debt instruments of comparable maturity and are considered Level 3 measurements within the fair value hierarchy. Level 3 Inputs to the valuation methodology are those that are unobservable and significant to the fair value measurement.
	Foreign Currency Translation. The functional currency for the Company’s foreign subsidiary is the local currency. Assets and liabilities are translated at exchange rates in effect at the balance sheet date while income and expense amounts are translated at average exchange rates during the period. The resulting foreign currency translation adjustments are disclosed as a separate component of stockholders’ deficit and other comprehensive loss. There was no foreign currency translation adjustments for the three months ended October 31, 2014 and 2013.
	Comprehensive Income (Loss). Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including foreign currency translations.
	Loss Contingencies. We recognize contingent losses that are both probable and estimable. In this context, we define probability as circumstances under which events are likely to occur. In regards to legal costs, we record such costs as incurred.
	Recent Accounting Pronouncements.  In May 2014, the FASB issued an accounting standard update which affects the revenue recognition of entities that enter into either (1) certain contracts to transfer goods or services to customers or (2) certain contracts for the transfer of nonfinancial assets. The update indicates an entity should recognize revenue in an amount that reflects the consideration the entity expects to be entitled to in exchange for the goods or services transferred by the entity. The update is to be applied to the beginning of the year of implementation or retrospectively and is effective for annual periods beginning after December 15, 2016 and in interim periods in that reporting period. Early application is not permitted. The Company is currently evaluating the effect the update will have on its financial statement.

INVENTORIES

INVENTORIES	3 Months Ended
	Oct. 31, 2014
Inventory Disclosure [Abstract]
INVENTORIES	3.                  INVENTORIES
	The Company’s inventory consisted of the following at October 31, 2014 and July 31, 2014 (in thousands):
		October 31, 2014		July 31, 2014
	Work-in-progress, spare parts and accessories	$	9	$	9
	Finished goods		446		446
	Total inventories	$	455	$	455

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Oct. 31, 2014
Stock-Based Compensation [Abstract]
STOCK-BASED COMPENSATION	4.                  STOCK-BASED COMPENSATION
	The Company measures the cost of employee, officer and director services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The fair value of the Company’s stock option awards is expensed over the vesting life of the underlying stock options using the graded vesting method, with each tranche of vesting options valued separately. The Company recorded stock-based compensation of $0 and $1,000, respectively, for the three months ended October 31, 2014 and 2013, respectively. All stock-based compensation is included in the Company’s selling, general and administrative costs and expenses.
	The Company’s 2000 Stock Option Plan, as amended (the “2000 Plan”), provides for the issuance of up to 2,000,000 shares of the Company’s common stock. The 2000 Plan allows the issuance of incentive stock options, stock appreciation rights and restricted stock awards. The exercise price of the options is determined by the compensation committee of the Company’s Board of Directors, but incentive stock options, if any, must be granted at an exercise price not less than the fair market value of the Company’s common stock as of the grant date or an exercise price of not less than 110% of the fair value for a 10% shareholder. Options expire up to ten years from the date of the grant and are exercisable according to the terms of the individual option agreements. The 2000 Plan expired on March 1, 2012. No additional grants may be made under the 2000 Plan; however, previously granted options will remain in force pursuant to the terms of the individual grants.
	In November 2010, the Company’s Board and Compensation Committee approved the Non-Invasive Monitoring Systems, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). Awards granted under the 2011 Plan may consist of incentive stock options, stock appreciation rights (SAR), restricted stock grants, restricted stock units (RSU) performance shares, performance units or cash awards. Subject to adjustment in certain circumstances, the 2011 Plan authorizes up to 4,000,000 shares of the Company’s common stock for issuance pursuant to the terms of the 2011 Plan. The 2011 Plan was approved by our shareholders in March 2012 and no awards have been granted under the 2011 Plan as of October 31, 2014.
	The Company did not grant any stock options during the three months ended October 31, 2014 or 2013.
	A summary of the Company’s stock option activity for the three months ended October 31, 2014 is as follows:
		Shares	Weighted		Weighted	Aggregate
			Average		average	intrinsic
			Exercise		remaining	Value
			Price		contractual
					term (years)
	Options outstanding, July 31, 2014	378,750	$	0.38
	Options granted	-		n/a
	Options exercised	-		n/a
	Options forfeited or expired	-		n/a
	Options outstanding, October 31, 2014	378,750	$	0.38	1.88	$	0
	Options expected to vest, October 31, 2014	378,750	$	0.38	1.88	$	0
	Options exercisable, October 31, 2014	378,750	$	0.38	1.88	$	0
	Of the 378,750 options outstanding at October 31, 2014, 378,750 were issued under the 2000 Plan and none were issued outside of shareholder approved plans. There were no options exercised during the three month periods ended October 31, 2014 and 2013. There were no options forfeited or expired during the three month periods ending October 31, 2014 and there were 75,000 options forfeited or expired during the three month periods ending October 31, 2013.
	As of October 31, 2014, there was no unrecognized costs related to outstanding stock options.

ROYALTIES

ROYALTIES	3 Months Ended
	Oct. 31, 2014
Royalties [Abstract]
ROYALTIES	5.                  ROYALTIES
	The Company is a party to two licensing agreements with SensorMedics and VivoMetrics. The Company previously received royalty income from the sale of its diagnostic monitoring hardware and software from SensorMedics and previously received royalties from VivoMetrics prior to its bankruptcy.
	Royalty income from the SensorMedics license amounted to $0 and $1,000 for the three months ended October 31, 2014 and 2013, respectively. SensorMedics indicated they will discontinue licensed product sales after inventory is depleted and, therefore, the royalty revenue from SensorMedics is expected to be minimal to none. There were no royalties recognized from VivoMeterics for the three months ended October 31, 2014 and 2013. VivoMetrics ceased operations in July 2009 and filed for Chapter 11 bankruptcy protection in October 2009. Under VivoMetrics’ approved bankruptcy plan of reorganization, our license with VivoMetrics was assigned to another company; however, there can be no assurance as to the future amount of royalty income, if any, that may result from this license or from our existing license with SensorMedics.

NOTES_PAYABLE

NOTES PAYABLE	3 Months Ended
	Oct. 31, 2014
Notes Payable [Abstract]
NOTES PAYABLE	6.                   NOTES PAYABLE
	2010 Credit Facility. On March 31, 2010, the Company entered into a new Note and Security Agreement with Frost Gamma Investments Trust, a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Company’s common stock (“Frost Gamma”), and Hsu Gamma Investments, LP, an entity controlled by the Company’s Chairman and Interim CEO (“Hsu Gamma” and together with Frost Gamma, the “Lenders”), pursuant to which the Lenders have provided a revolving credit line (the “Credit Facility”) in the aggregate principal amount of up to $1.0 million, secured by all of the Company’s personal property. The Company is permitted to borrow and reborrow from time to time under the Credit Facility until July 31, 2015 (the “Credit Facility Maturity Date”). The interest rate payable on amounts outstanding under the Credit Facility is 11% per annum, and increases to 16% per annum after the Credit Facility Maturity Date or after an event of default. All amounts owing under the Credit Facility are required to be repaid by the Credit Facility Maturity Date, and amounts outstanding are prepayable at any time without premium or penalty. As of October 31, 2014, the Company had drawn an aggregate of $1,000,000 under the Credit Facility and there is no available balance remaining.
	2011 Promissory Notes. On September 12, 2011, the Company entered into two promissory notes in the principal amount of $50,000 each with Frost Gamma, a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Company’s common stock, and with an unrelated third party for a total of $100,000. The interest rate payable by NIMS on both the Frost Gamma Note and the unrelated third party note is 11% per annum, payable on the maturity date of July 31, 2015 (the “Promissory Notes Maturity Date”). The Company may prepay either or both notes in advance of the Promissory Notes Maturity Date without premium or penalty.
	2012 Promissory Note. On May 30, 2012, the Company entered into a promissory note in the principal amount of $50,000 with Hsu Gamma, an entity controlled by NIMS’ Chairman of the Board and Interim Chief Executive Officer, Jane H. Hsiao, (the “Hsu Gamma Note”). The interest rate payable by NIMS on the Hsu Gamma Note is 11% per annum, payable on the maturity date of July 31, 2015. The Hsu Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
	2013 Promissory Note. On February 22, 2013, the Company entered into a promissory note in the amount of $50,000 with Jane Hsiao, the Company’s Chairman of the Board and Interim Chief Executive Officer (the “2013 Hsiao Note”). The interest rate payable by the Company on the 2013 Hsiao Note is 11% per annum, payable on the maturity date of July 31, 2015. The 2013 Hsiao Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
	2014 Promissory Note. On September 24, 2014, the Company entered into a promissory note (the “2014 Hsiao Note”) in the principal amount of $50,000 with Jane Hsiao, NIMS' Chairman of the Board and Interim Chief Executive Officer. The interest rate payable by NIMS on the 2014 Hsiao Note is 11% per annum, payable on the maturity date of July 31, 2015. The 2014 Hsiao Note may be prepaid in advance of the Maturity Date without penalty.
	At October 31, 2014, the Company was obligated under the above described Credit Facility and promissory notes to make future principal payments (excluding interest) as follows:
	Year Ending October 31,
	2015		1,250,000
		$	1,250,000

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Oct. 31, 2014
Shareholders' Equity [Abstract]
SHAREHOLDERS' EQUITY	7.                  SHAREHOLDERS' EQUITY
	The Company has three classes of Preferred Stock. Holders of Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock are entitled to vote with the holders of common stock as a single class on all matters.
	Series B Preferred Stock is not redeemable by the Company and has a liquidation value of $100 per share, plus declared and unpaid dividends, if any. Dividends are non-cumulative, and are at the rate of $10 per share, if declared.
	Series C Preferred Stock is redeemable by the Company at a price of $0.10 per share upon 30 days prior written notice. This series has a liquidation value of $1.00 per share plus declared and unpaid dividends, if any. Dividends are non-cumulative, and are at the rate of $0.10 per share, if declared. Each share of Series C Preferred Stock is convertible into 25 shares of the Company’s common stock upon payment of a conversion premium of $4.20 per share of common stock. The conversion rate and the conversion premium are subject to adjustments in the event of stock splits, stock dividends, reverse stock splits and certain other events.
	Series D Preferred Stock is not redeemable by the Company. This series has a liquidation value of $1,500 per share, plus declared and unpaid dividends, if any. Each share of Series D Preferred Stock is convertible into 5,000 shares of the Company’s common stock. The conversion rate is subject to adjustments in the event of stock splits, stock dividends, reverse stock splits and certain other events. In October 2014, a holder of the Company’s Series D Preferred Stock converted 13 shares into 65,000 shares of the Company’s common stock.
	On April 8, 2013, the Company entered into a stock purchase agreement (the “Stock Purchase Agreement”) with 12 investors (the “Investors”) pursuant to which the Investors agreed to purchase in a private placement an aggregate of 10,020,000 shares of the Company’s common stock, par value $0.01 (the “Shares”), at a price of $0.05 per share, for aggregate consideration of $501,000. The $0.05 per share price was less than the market price, which was approximately $0.12 as of the date of the agreement. Among the Investors purchasing Shares pursuant to the agreement were Dr. Jane Hsiao, the Company’s Chairman of the Board and Interim Chief Executive Officer and Frost Gamma, an entity controlled by Dr. Phillip Frost, one of the largest beneficial owners of the Company’s common stock. Dr. Hsiao purchased 2.0 million Shares and Frost Gamma purchased 2.0 million Shares.
	The Company issued 65,000 shares of the Company’s common stock for the conversion of 13 shares Series D Preferred Stock during the three months ended October 31, 2014 and did not issue any shares of the Company’s common stock for the three months ended October 31, 2013. No preferred stock dividends were declared for the three months ended October 31, 2014 and 2013.

BASIC_AND_DILUTED_LOSS_PER_SHA

BASIC AND DILUTED LOSS PER SHARE	3 Months Ended
	Oct. 31, 2014
Basic and Diluted Loss Per Share [Abstract]
BASIC AND DILUTED LOSS PER SHARE	8.                  BASIC AND DILUTED LOSS PER SHARE
	Basic net loss per common share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed giving effect to all dilutive potential common shares that were outstanding during the period. Diluted potential common shares consist of incremental shares issuable upon exercise of stock options and warrants and conversion of preferred stock. In computing diluted net loss per share for the three months ended October 31, 2014 and 2013, no dilution adjustment has been made to the weighted average outstanding common shares because the assumed exercise of outstanding options and warrants and the conversion of preferred stock would be anti-dilutive.
	Potential common shares not included in calculating diluted net loss per share are as follows:
		October 31, 2014		October 31, 2013
	Stock options		378,750		538,750
	Series C Preferred Stock		1,551,200		1,551,200
	Series D Preferred Stock		13,910,000		13,975,000
	Total		15,839,950		16,064,950

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Oct. 31, 2014
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	9.                  RELATED PARTY TRANSACTIONS
	The Company signed a five year lease for office space in Miami, Florida with a company owned by Dr. Phillip Frost, who is the beneficial owner of more than 10% of the Company’s Common Stock. The current rental payments under the Miami office lease, which commenced January 1, 2008 and expired on December 31, 2012, are approximately $1,250 per month and are currently on a month-to-month basis. The Company recorded rent expense related to the Miami lease of approximately $4,000 and $4,000, respectively, for the three months ended October 31, 2014 and 2013.
	The Company signed a three year lease for warehouse space in Hialeah, Florida with a company jointly controlled by Dr. Frost and Dr. Jane Hsiao, the Company’s Chairman and Interim CEO. The rental payments under the Hialeah warehouse lease, which commenced February 1, 2009 and expired on January 31, 2012, then continued on a month-to-month basis. As further described in Note 10, the Company vacated the Hialeah warehouse in September 2014 and entered into a new lease. The Company recorded rent expense related to the Hialeah warehouse of approximately $6,000 and $11,000, respectively, for the three months ended October 31, 2014 and 2013.
	As more fully described in Note 6, the Company entered into a $1.0 million Credit Facility in March 2010 with both an entity controlled by Dr. Frost and an entity controlled by Dr. Hsiao. There were no advances under the Credit Facility during the three months ended October 31, 2014. There was $1.0 million outstanding balance due, plus interest, on the Credit Facility as of October 31, 2014 and July 31, 2014 and there is no available balance remaining. The Credit Facility expires in July 31, 2015.
	On September 12, 2011, the Company entered into a promissory note in the principal amount of $50,000 with Frost Gamma, a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of our common stock. The interest rate payable by NIMS on the Frost Gamma note is 11% per annum, payable on July 31, 2015. The Frost Gamma note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
	On May 30, 2012, the Company entered into a promissory note in the principal amount of $50,000 with Hsu Gamma, an entity controlled by our Chairman of the Board and Interim Chief Executive Officer, Jane H. Hsiao. The interest rate payable by NIMS on the Hsu Gamma note is 11% per annum, payable on the Promissory Notes Maturity Date. The Hsu Gamma note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
	On February 22, 2013, the Company entered into a promissory note in the amount of $50,000 with Jane Hsiao, the Company’s Chairman of the Board and Interim Chief Executive Officer. The interest rate payable by the Company on the 2013 Hsiao Note is 11% per annum, payable on the Promissory Notes Maturity Date. The 2013 Hsiao Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty.
	On September 24, 2014, the Company entered into a promissory note in the principal amount of $50,000 with Jane Hsiao, NIMS' Chairman of the Board and Interim Chief Executive Officer. The interest rate payable by NIMS on the 2014 Hsiao Note is 11% per annum, payable on the maturity date of July 31, 2015. The 2014 Hsiao Note may be prepaid in advance of the Maturity Date without penalty.
	The Company incurred interest expense related to the Credit Facility of approximately $28,000 for the three months ended October 31, 2014 and 2013. The Company also incurred interest expense related to the promissory notes of approximately $6,000 and $5,000 for the three months ended October 31, 2014 and 2013, respectively. Approximately $532,000 and $498,000 of accrued interest remained outstanding on the Credit Facility and promissory notes at October 31, 2014 and July 31, 2014, respectively.
	Dr. Hsiao, Dr. Frost and directors Steven Rubin and Rao Uppaluri are each significant stockholders, officers and/or directors or former directors of TransEnterix, Inc. (formerly SafeStitch Medical, Inc.) (“TransEnterix”), a publicly-traded, medical device manufacturer, Tiger X Medical, Inc. (“Tiger X”) (formerly known as Cardo Medical, Inc.), a publicly traded former medical device company, and Tiger Media, Inc. (“Tiger Media”) (formerly known as SearchMedia Holdings Limited), a publicly-traded media company operating primarily in China. The Company’s Chief Financial Officer also served as the Chief Financial Officer of TransEnterix until October 2, 2013. The Company’s Chief Financial Officer continued as an employee of TransEnterix until March 3, 2014, during which he supervised the Miami based accounting staffs of TransEnterix under a cost sharing arrangement whereby the total salaries of the Miami based accounting staffs of NIMS and TransEnterix were shared.  Since December 2009, the Company’s Chief Legal Officer has served under a similar cost sharing arrangement as Corporate Counsel of Tiger Media and as the Chief Legal Officer of each of TransEnterix and Tiger X. The Company recorded to selling, general and administrative costs and expenses to account for the sharing of costs under these arrangements of $7,800 and $9,000, respectively, for the three months ended October 31, 2014, and 2013. Accounts payable to TransEnterix related to these arrangements totaled approximately $5,000 and $3,000 respectively, at October 31, 2014 and July 31, 2014.

COMMITMENTS

COMMITMENTS	3 Months Ended
	Oct. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	10.                  COMMITMENTS
	Leases.
	The Company is under an operating lease agreement for office space that expired in 2012 and continues on a month to month basis. The Company is also under an operating lease agreement for warehouse space that runs through September 2015 and requires for the payment of taxes, insurance and utilities.
	Generally, the lease agreements require the payment of base rent plus escalations for increases in building operating costs and real estate taxes. Rental expense for operating leases amounted to $17,000 and $15,000 for the three months ended October 31, 2014 and 2013, respectively.
	Product Development and Supply Agreement.
	On September 4, 2007, the Company entered into a Product Development and Supply Agreement (the “Agreement”) with Sing Lin Technologies Co. Ltd., a company based in Taichung, Taiwan ("Sing Lin"). Pursuant to the Agreement, the Company consigned to Sing Lin the development and design of the next generation Exer-Rest and related devices. The Agreement commenced as of September 3, 2007 and had a term that extended three years from the acceptance by NIMS of the first run of production units. Thereafter, the Agreement automatically renewed for successive one year terms unless either party sent the other a notice of non-renewal. Either party was permitted to terminate the Agreement with ninety days prior written notice. Upon termination, each party’s obligations under the Agreement were to be limited to obligations related to confirmed orders placed prior to the termination date.
	Pursuant to the Agreement, Sing Lin designed, developed and manufactured the tooling required to manufacture the acceleration therapeutic platforms for a total cost to the Company of $471,000. Sing Lin utilized the tooling in the performance of its production obligations under the Agreement. The Company paid Sing Lin $150,000 of the tooling cost upon execution of the Agreement and $150,000 upon the Company’s approval of the product prototype concepts and designs. The balance of the final tooling cost became due and payable in September 2008 upon acceptance of the first units produced using the tooling, and was paid in full during the year ended July 31, 2009.
	Under the now-terminated Agreement, the Company also granted Sing Lin the exclusive distribution rights for the products in certain countries in the Far East, including Taiwan, China, Japan, South Korea, Malaysia, Indonesia and certain other countries. Sing Lin agreed not to sell the Products outside its geographic areas in the Far East.
	The Agreement provided for the Company to purchase approximately $2.6 million of Exer-Rest units within one year of the September 2008 acceptance of the final product. The Agreement further provided for the Company to purchase $4.1 million and $8.8 million of Exer-Rest products in the second and third years following such acceptance, respectively. These minimum purchase amounts were based upon 2007 product costs multiplied by volume commitments. Through October 31, 2014, the Company had paid Sing Lin $1.7 million in connection with orders placed through that date. As of October 31, 2014, the Company has approximately $41,000 of payables due to Sing Lin. As of October 31, 2014, aggregate minimum future purchases under the Agreement totaled approximately $13.9 million.
	As of October 31, 2014, the Company had not placed orders sufficient to meet the first-year or second-year minimum purchase obligations under the Agreement. The Company notified Sing Lin in June 2010 that it was terminating the Agreement effective September 2010, and Sing Lin in July 2010 demanded that the Company place orders sufficient to fulfill the three year minimum purchase obligations in the Agreement. As of the date of the issuance of these financial statements Sing Lin has not followed up on its July 2010 demand. There can be no assurance that Sing Lin will not attempt to enforce its remedies under the Agreement, or pursue other potential remedies.

LONGLIVED_ASSETS

LONG-LIVED ASSETS	3 Months Ended
	Oct. 31, 2014
Long Lived Assets [Abstract]
LONG-LIVED ASSETS	11.                  LONG-LIVED ASSETS
	The Company’s long-lived assets include furniture and equipment, tooling, websites and software, leasehold improvements, patents and trademarks. Tooling and equipment, net of accumulated depreciation, consists of the following at October 31 and July 31, 2014 (in thousands):
		Estimated	October 31,		July 31,
		Useful Life	2014		2014
	Furniture and fixtures, leasehold improvements, office equipment and computers	3 – 5 years	$	85	$	85
	Website and software	3 years		26		26
				111		111
	Less accumulated depreciation			-110		-110
	Tooling and equipment, net		$	1	$	1
	Depreciation expense was $0 and $2,000 during the three months ended October 31, 2014 and 2013, respectively. Nine Exer-Rest AT3800 and AT4700 demonstration units are included in furniture and fixtures at an aggregate cost of $25,000. These units were placed in service in fiscal 2009 and 2010, and are being depreciated based upon five-year estimated useful lives. In June 2014, the Company transferred an Exer-Rest unit with a net book value of $0 from long-lived assets to inventory.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Oct. 31, 2014
Accounting Policies [Abstract]
Consolidation	Consolidation.The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Non-Invasive Monitoring Systems of Florida, Inc., which has no current operations, and NIMS of Canada, Inc., a Canadian corporation, which has no current operations. All material inter-company accounts and transactions have been eliminated in consolidation
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions, such as accounts receivable, stock based compensation, warranty accrual and deferred taxes as estimates, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Such items include input variables for stock based compensation, accounts receivable, warranty accrual and deferred taxes. Actual results could differ materially from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Company considers all highly liquid short-term investments purchased with an original maturity date of three months or less to be cash equivalents. The Company had approximately $42,000 and $21,000 on deposit in bank operating accounts at October 31, 2014 and July 31, 2014, respectively.
Allowances for Doubtful Accounts	Allowances for Doubtful Accounts. Royalties and other receivables are recorded at the stated amount of the transactions. The Company provides an allowance for royalties and other receivables it believes it may not collect in full. Receivables are written off when they are deemed to be uncollectible and all collection attempts have ceased. The amount of bad debt recorded each period and the resulting adequacy of the allowance at the end of each period are determined using a combination of the Company’s historical loss experience, customer-by-customer analysis of the Company’s accounts receivable each period and subjective assessments of the Company’s future bad debt exposure.
Inventory	Inventories. Inventories are stated at lower of cost or market using the first-in, first-out method, and are evaluated at least annually for impairment. Inventories at October 31, 2014 and July 31, 2014 primarily consisted of finished Exer-Rest units and accessories. Provisions for potentially obsolete or slow-moving inventory are made based on management’s analysis of inventory levels, historical obsolescence and future sales forecasts.
Tooling and Equipment	Tooling and Equipment. These assets are stated at cost and depreciated or amortized using the straight-line method, over their estimated useful lives.
Long-lived Assets	Long-lived Assets. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In performing the review for recoverability, the Company estimates the future undiscounted cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the expected future cash flows is less than the carrying amount of the assets, an impairment loss is recognized as the difference between the fair value and the carrying amount of the asset.
Taxes Assessed On Revenue-Producing Transactions	Taxes Assessed on Revenue-Producing Transactions. The Company presents sales taxes assessed on revenue-producing transactions between a seller and customer using the net presentation; thus, sales and cost of revenues are not affected by such taxes.
Income Taxes	Income Taxes. The Company provides for income taxes using an asset and liability based approach. Deferred income tax assets and liabilities are recorded to reflect the tax consequences in future years of temporary differences between the carrying amounts of assets and liabilities for financial statement and income tax purposes. The deferred tax asset for loss carryforwards and other potential future tax benefits has been fully offset by a valuation allowance since it is uncertain whether any future benefit will be realized. The utilization of the loss carryforward is limited to future taxable earnings of the Company and may be subject to severe limitations if the Company undergoes an ownership change pursuant to the Internal Revenue Code Section 382. Tax years ranging from 2011 to 2014 remain open to examination by various taxing jurisdictions as the statute of limitations has not expired. It is the Company’s policy to include income tax interest and penalty expense in its tax provision.
Revenue Recognition	Revenue Recognition. Revenue from product sales is recognized when persuasive evidence of an arrangement exists, the goods are shipped and title has transferred, the price is fixed or determinable, and the collection of the sales proceeds is reasonably assured. The Company recognizes royalties as they are earned, based on reports from licensees. Research and consulting revenue and revenue from sales of extended warranties on therapeutic platforms are recognized over the term of the respective agreements.
Advertising Costs	Advertising Costs. The Company expenses all costs of advertising and promotions as incurred. There were no advertising and promotional costs incurred for the three months ended October 31, 2014 and 2013.
Research and Development Costs	Research and Development Costs. Research and development costs are expensed as incurred, and primarily consist of payments to third parties for research and development of the Exer-Rest device and regulatory testing and other costs to obtain FDA approval.
Warranties	Warranties. The Company’s warranties are two years on all Exer-Rest products sold domestically and one year for products sold outside of the U.S. and are accrued based on management’s estimates and the history of warranty costs incurred. There were no material warranty costs incurred during the three months ended October 31, 2014 and 2013, and management estimates that the Company’s accrued warranty expense at October 31, 2014 will be sufficient to offset claims made for units under warranty.
Stock-based compensation	Stock-based compensation. The Company recognizes all share-based payments, including grants of stock options, as operating expenses, based on their grant date fair values. Stock-based compensation expense is recognized over the vesting life of the underlying stock options and is included in selling, general and administrative costs and expenses in the condensed consolidated comprehensive statements of operations for all periods presented.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of October 31, 2014 and July 31, 2014. The respective carrying value of certain on-balance-sheet financial instruments such as cash, royalties and other receivables, accounts payable and accrued expenses approximate fair values because they are short term in nature or they bear current market interest rates.
	As of October 31, 2014, the respective carrying value of the notes payable – related party and notes payable – other approximate our current borrowing rate for similar debt instruments of comparable maturity and are considered Level 3 measurements within the fair value hierarchy. Level 3 Inputs to the valuation methodology are those that are unobservable and significant to the fair value measurement.
Foreign Currency Translation	Foreign Currency Translation. The functional currency for the Company’s foreign subsidiary is the local currency. Assets and liabilities are translated at exchange rates in effect at the balance sheet date while income and expense amounts are translated at average exchange rates during the period. The resulting foreign currency translation adjustments are disclosed as a separate component of stockholders’ deficit and other comprehensive loss. There was no foreign currency translation adjustments for the three months ended October 31, 2014 and 2013.
Comprehensive Income (Loss)	Comprehensive Income (Loss). Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including foreign currency translations.
Loss Contingencies	Loss Contingencies. We recognize contingent losses that are both probable and estimable. In this context, we define probability as circumstances under which events are likely to occur. In regards to legal costs, we record such costs as incurred.
Recent Accounting Pronouncements	Recent Accounting Pronouncements.  In May 2014, the FASB issued an accounting standard update which affects the revenue recognition of entities that enter into either (1) certain contracts to transfer goods or services to customers or (2) certain contracts for the transfer of nonfinancial assets. The update indicates an entity should recognize revenue in an amount that reflects the consideration the entity expects to be entitled to in exchange for the goods or services transferred by the entity. The update is to be applied to the beginning of the year of implementation or retrospectively and is effective for annual periods beginning after December 15, 2016 and in interim periods in that reporting period. Early application is not permitted. The Company is currently evaluating the effect the update will have on its financial statement.

INVENTORIES_Tables

INVENTORIES (Tables)	3 Months Ended
	Oct. 31, 2014
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The Company’s inventory consisted of the following at October 31, 2014 and July 31, 2014 (in thousands):
		October 31, 2014		July 31, 2014
	Work-in-progress, spare parts and accessories	$	9	$	9
	Finished goods		446		446
	Total inventories	$	455	$	455

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Oct. 31, 2014
Stock-Based Compensation [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	A summary of the Company’s stock option activity for the three months ended October 31, 2014 is as follows:
		Shares	Weighted		Weighted	Aggregate
			Average		average	intrinsic
			Exercise		remaining	Value
			Price		contractual
					term (years)
	Options outstanding, July 31, 2014	378,750	$	0.38
	Options granted	-		n/a
	Options exercised	-		n/a
	Options forfeited or expired	-		n/a
	Options outstanding, October 31, 2014	378,750	$	0.38	1.88	$	0
	Options expected to vest, October 31, 2014	378,750	$	0.38	1.88	$	0
	Options exercisable, October 31, 2014	378,750	$	0.38	1.88	$	0

NOTES_PAYABLE_Tables

NOTES PAYABLE (Tables)	3 Months Ended
	Oct. 31, 2014
Notes Payable [Abstract]
Schedule of Line of Credit Facilities	At October 31, 2014, the Company was obligated under the above described Credit Facility and promissory notes to make future principal payments (excluding interest) as follows:
	Year Ending October 31,
	2015		1,250,000
		$	1,250,000

BASIC_AND_DILUTED_LOSS_PER_SHA1

BASIC AND DILUTED LOSS PER SHARE (Tables)	3 Months Ended
	Oct. 31, 2014
Basic and Diluted Loss Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Potential common shares not included in calculating diluted net loss per share are as follows:
		October 31, 2014		October 31, 2013
	Stock options		378,750		538,750
	Series C Preferred Stock		1,551,200		1,551,200
	Series D Preferred Stock		13,910,000		13,975,000
	Total		15,839,950		16,064,950

LONGLIVED_ASSETS_Tables

LONG-LIVED ASSETS (Tables)	3 Months Ended
	Oct. 31, 2014
Long Lived Assets [Abstract]
Schedule of Long Lived Assets Held-for-sale	The Company’s long-lived assets include furniture and equipment, tooling, websites and software, leasehold improvements, patents and trademarks. Tooling and equipment, net of accumulated depreciation, consists of the following at October 31 and July 31, 2014 (in thousands):
		Estimated	October 31,		July 31,
		Useful Life	2014		2014
	Furniture and fixtures, leasehold improvements, office equipment and computers	3 – 5 years	$	85	$	85
	Website and software	3 years		26		26
				111		111
	Less accumulated depreciation			-110		-110
	Tooling and equipment, net		$	1	$	1

ORGANIZATION_AND_BUSINESS_Deta

ORGANIZATION AND BUSINESS (Details Textual) (USD $)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013	Jul. 31, 2014
Net loss	($105,000)	($118,000)
Accumulated deficit	-24,428,000		-24,323,000
Cash	42,000		21,000
Negative Working Capital	$1,693,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	Oct. 31, 2014	Jul. 31, 2014	Oct. 31, 2013	Jul. 31, 2013
In Thousands, unless otherwise specified
Cash, end of period	$42	$21	$187	$296

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Oct. 31, 2014	Jul. 31, 2014
In Thousands, unless otherwise specified
Work-in-progress, spare parts and accessories	$9	$9
Finished goods	446	446
Total inventories	$455	$455

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended
	Oct. 31, 2014
Options outstanding Shares, Beginning balance	378,750
Options granted Shares	0
Options exercised Shares	0
Options forfeited or expired Shares	0
Options outstanding Shares, Ending balance	378,750
Options expected to vest, Shares	378,750
Options exercisable, Shares	378,750
Options outstanding Weighted Average Exercise Price, Beginning balance	$0.38
Options outstanding Weighted Average Exercise Price, Ending balance	$0.38
Options expected to vest, Weighted Average Exercise Price	$0.38
Options exercisable, Weighted Average Exercise Price	$0.38
Options outstanding, Weighted average remaining contractual term (years)	1 year 10 months 17 days
Options expected to vest, Weighted average remaining contractual term (years)	1 year 10 months 17 days
Options exercisable, Weighted average remaining contractual term (years)	1 year 10 months 17 days
Options outstanding, Aggregate intrinsic Value	$0
Options expected to vest, Aggregate intrinsic Value	0
Options exercisable, Aggregate intrinsic Value	$0

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details Textual) (USD $)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013	Jul. 31, 2014	Nov. 30, 2010
Allocated Share-based Compensation Expense	$0	$1,000
Share-based Compensation Arrangement by Share-based Payment Award, Description	Companys common stock as of the grant date or an exercise price of not less than 110% of the fair value for a 10% shareholder.
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Number	378,750		378,750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period		75,000
2000 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Other Increases (Decreases) in Period	378,750
2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				4,000,000

ROYALTIES_Details_Textual

ROYALTIES (Details Textual) (Sensormedics [Member], USD $)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Sensormedics [Member]
Indefinite-lived Intangible Assets [Line Items]
Royalty Income, Nonoperating	$0	$1,000

NOTES_PAYABLE_Details

NOTES PAYABLE (Details) (USD $)	Oct. 31, 2014
2015	$1,250,000
Total	$1,250,000

NOTES_PAYABLE_Details_Textual

NOTES PAYABLE (Details Textual) (USD $)	1 Months Ended
	30-May-12	Feb. 22, 2013	Sep. 24, 2014	Mar. 31, 2010	Oct. 31, 2014	Jul. 31, 2014	Sep. 12, 2011
Short-term Debt [Line Items]
Line of Credit Facility, Amount Outstanding					$1,000,000	$1,000,000
2011 Promissory Notes [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount							100,000
2011 Promissory Notes [Member] | Frost Gamma Investment Trust [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							11.00%
Debt Instrument, Face Amount							50,000
Beneficial Ownership Percentage							10.00%
2012 Promissory Notes [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount	50,000
2012 Promissory Notes [Member] | Hsu Gamma Investments, L.P [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	11.00%
Debt Instrument, Face Amount	50,000
Debt Instrument, Maturity Date	31-Jul-15
2013 Promissory Notes [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount		50,000
2013 Promissory Notes [Member] | Jane Hsiao [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		11.00%
Debt Instrument, Face Amount		50,000
Debt Instrument, Maturity Date		31-Jul-15
2014 Promissory Notes [Member] | Jane Hsiao [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			11.00%
Debt Instrument, Face Amount			50,000
Debt Instrument, Maturity Date			31-Jul-15
2010 Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount Outstanding					1,000,000
2010 Credit Facility [Member] | Maximum [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				16.00%
2010 Credit Facility [Member] | Minimum [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				11.00%
2010 Credit Facility [Member] | Frost Gamma Investment Trust [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount Outstanding				$1,000,000
Debt Instrument, Maturity Date				31-Jul-15
Beneficial Ownership Percentage				10.00%			10.00%

SHAREHOLDERS_EQUITY_Details_Te

SHAREHOLDERS' EQUITY (Details Textual) (USD $)	3 Months Ended	0 Months Ended
	Oct. 31, 2014	Apr. 08, 2013
Subsidiary, Sale of Stock [Line Items]
Conversion of Stock, Shares Converted	13
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion	65,000
Dr.Hsiao [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		2,000,000
Frost Gamma [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		2,000,000
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		10,020,000
Stock Issued During Period, Value, New Issues		501,000
Common Stock,Par Value		0.01
Share Price		0.12
Sale of Stock, Price Per Share		0.05
Series B Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Preferred stock, liquidation preference	100
Dividends Payable, Amount Per Share	10
Series C Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion	25
Preferred stock, liquidation preference	1
Dividends Payable, Amount Per Share	0.1
Preferred Stock, Redemption Price Per Share	0.1
Preferred Stock Conversion Premium	4.2
Series D Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion	5,000
Preferred stock, liquidation preference	1,500

BASIC_AND_DILUTED_LOSS_PER_SHA2

BASIC AND DILUTED LOSS PER SHARE (Details)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Class of Stock [Line Items]
Total	15,839,950	16,064,950
Stock Options [Member]
Class of Stock [Line Items]
Total	378,750	538,750
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Total	1,551,200	1,551,200
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Total	13,910,000	13,975,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	3 Months Ended		1 Months Ended
	Oct. 31, 2014	Oct. 31, 2013	Jan. 31, 2008	Jul. 31, 2014	Sep. 12, 2011	30-May-12	Feb. 22, 2013	Sep. 24, 2014	Mar. 31, 2010
Related Party Transaction [Line Items]
Operating Leases, Rent Expense	$17,000	$15,000
Line of Credit Facility, Amount Outstanding	1,000,000			1,000,000
Interest Payable	532,000			498,000
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party	7,800	9,000
2011 Promissory Notes [Member]
Related Party Transaction [Line Items]
Debt Instrument, Face Amount					100,000
2011 Promissory Notes [Member] | Frost Gamma Investment Trust [Member]
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					11.00%
Debt Instrument, Face Amount					50,000
Beneficial Ownership Percentage					10.00%
2012 Promissory Notes [Member]
Related Party Transaction [Line Items]
Debt Instrument, Face Amount						50,000
2012 Promissory Notes [Member] | Hsu Gamma Investments, L.P [Member]
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						11.00%
Debt Instrument, Face Amount						50,000
2013 Promissory Notes [Member]
Related Party Transaction [Line Items]
Debt Instrument, Face Amount							50,000
2013 Promissory Notes [Member] | Jane Hsiao [Member]
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							11.00%
Debt Instrument, Face Amount							50,000
Promissory Notes [Member]
Related Party Transaction [Line Items]
Debt Instrument, Face Amount								50,000
Interest Payable	6,000	5,000
Promissory Notes [Member] | Jane Hsiao [Member]
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage								11.00%
Miami Lease [Member]
Related Party Transaction [Line Items]
Payments for Rent	4,000	4,000	1,250
Hialeah Lease [Member]
Related Party Transaction [Line Items]
Operating Leases, Rent Expense	6,000	11,000
Dr Phillip Frost [Member]
Related Party Transaction [Line Items]
Beneficial Ownership Percentage	10.00%
TransEnterix [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties	5,000			3,000
2010 Credit Facility [Member]
Related Party Transaction [Line Items]
Line of Credit Facility, Amount Outstanding	1,000,000
2010 Credit Facility [Member] | Frost Gamma Investment Trust [Member]
Related Party Transaction [Line Items]
Beneficial Ownership Percentage					10.00%				10.00%
Line of Credit Facility, Amount Outstanding									1,000,000
Credit Facility [Member]
Related Party Transaction [Line Items]
Interest Payable	$28,000	$28,000

COMMITMENTS_Details_Textual

COMMITMENTS (Details Textual) (USD $)	0 Months Ended	3 Months Ended
	Sep. 04, 2007	Oct. 31, 2014	Oct. 31, 2013
Commitments And Contingencies [Line Items]
Operating Leases, Rent Expense		$17,000	$15,000
Manufacturing Costs	471,000
Cost of Utilities	150,000
Payments to Suppliers		1,700,000
Payments On Approval Of Product Prototype Concepts And Designs	150,000
Purchase Obligation		13,900,000
Exer Rest Units [Member]
Commitments And Contingencies [Line Items]
Purchase Obligation, Due in Next Twelve Months		2,600,000
Purchase Obligation, Due in Second Year		4,100,000
Purchase Obligation, Due in Third Year		8,800,000
Sing Lin [Member]
Commitments And Contingencies [Line Items]
Payables to Customers		$41,000

LONGLIVED_ASSETS_Details

LONG-LIVED ASSETS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Jul. 31, 2014
Long Lived Assets Held-for-sale [Line Items]
Property, Plant and Equipment, Gross	$111	$111
Less accumulated depreciation	-110	-110
Tooling and equipment, net	1	1
Furniture and Fixtures Leasehold Improvements Office Equipment and Computers [Member]
Long Lived Assets Held-for-sale [Line Items]
Property, Plant and Equipment, Gross	85	85
Website and Software [Member]
Long Lived Assets Held-for-sale [Line Items]
Property, Plant and Equipment, Gross	$26	$26
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] | Furniture and Fixtures Leasehold Improvements Office Equipment and Computers [Member]
Long Lived Assets Held-for-sale [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] | Furniture and Fixtures Leasehold Improvements Office Equipment and Computers [Member]
Long Lived Assets Held-for-sale [Line Items]
Property, Plant and Equipment, Useful Life	5 years

LONGLIVED_ASSETS_Details_Textu

LONG-LIVED ASSETS (Details Textual) (USD $)	3 Months Ended
	Oct. 31, 2014	Oct. 31, 2013	Jul. 31, 2014	Jun. 30, 2014
Long Lived Assets [Line Items]
Depreciation, Total	$0	$2,000
Property, Plant and Equipment, Gross	111,000		111,000
Inventory Exchanges [Member]
Long Lived Assets [Line Items]
Long-Lived Assets				0
Furniture and Fixtures [Member]
Long Lived Assets [Line Items]
Property, Plant and Equipment, Gross	$25,000