Document And Entity Information
| Document And Entity Information - shares | 9 Months Ended | |
| Apr. 30, 2016 | Jun. 10, 2016 | |
| Document And Entity Information [Abstract] | ||
| Entity Registrant Name | NON INVASIVE MONITORING SYSTEMS INC /FL/ | |
| Entity Central Index Key | 720,762 | |
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Apr. 30, 2016 | |
| Current Fiscal Year End Date | --07-31 | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Common Stock, Shares Outstanding | 79,007,423 | |
| Trading Symbol | NIMU | |
| Document Fiscal Period Focus | Q3 | |
| Document Fiscal Year Focus | 2,016 |
Condensed Consolidated Balance
| Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 30, 2016 | Jul. 31, 2015 |
| Current assets | ||
| Cash | $ 14 | $ 40 |
| Accounts receivable - trade | 1 | |
| Prepaid expenses, deposits, and other current assets | 8 | $ 52 |
| Total current assets | 23 | 92 |
| Inventories, net | $ 426 | 435 |
| Tooling and equipment, net | 1 | |
| Total assets | $ 449 | 528 |
| Current liabilities | ||
| Accounts payable and accrued expenses | 1,238 | 1,128 |
| Customer deposits | 4 | 4 |
| Total current liabilities | 1,242 | 1,132 |
| Long term liabilities | ||
| Notes payable - Related Party | 1,475 | 1,350 |
| Notes payable - Other | 50 | 50 |
| Total long term liabilities | 1,525 | 1,400 |
| Total liabilities | 2,767 | 2,532 |
| Shareholders' deficit | ||
| Common Stock, par value $0.01 per share; 400,000,000 shares authorized; 79,007,423 shares issued and outstanding | 790 | 790 |
| Additional paid in capital | 21,930 | 21,930 |
| Accumulated deficit | (25,055) | (24,741) |
| Accumulated other comprehensive loss | (48) | (48) |
| Total shareholders' deficit | (2,318) | (2,004) |
| Total liabilities and shareholders' deficit | $ 449 | $ 528 |
| Series B Preferred Stock [Member] | ||
| Shareholders' deficit | ||
| Preferred Stock, value | ||
| Total shareholders' deficit | ||
| Series C Preferred Stock [Member] | ||
| Shareholders' deficit | ||
| Preferred Stock, value | $ 62 | $ 62 |
| Total shareholders' deficit | 62 | 62 |
| Series D Preferred Stock [Member] | ||
| Shareholders' deficit | ||
| Preferred Stock, value | 3 | 3 |
| Total shareholders' deficit | $ 3 | $ 3 |
Condensed Consolidated Balance3
| Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Apr. 30, 2016 | Jul. 31, 2015 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 400,000,000 | 400,000,000 |
| Common stock, shares issued | 79,007,423 | 79,007,423 |
| Common stock, shares outstanding | 79,007,423 | 79,007,423 |
| Series B Preferred Stock [Member] | ||
| Preferred stock, par value | $ 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 | $ 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 | $ 1 | $ 1 |
| Preferred stock, shares authorized | 5,500 | 5,500 |
| Preferred stock, shares issued | 2,782 | 2,782 |
| Preferred stock, shares outstanding | 2,782 | 2,782 |
| Preferred stock, liquidation preference | $ 4,173 | $ 4,173 |
Condensed Consolidated Comprehe
| Condensed Consolidated Comprehensive Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | |
| Revenues | ||||
| Product sales, net | $ 7 | $ 23 | ||
| Total revenues | 7 | 23 | ||
| Operating costs and expenses | ||||
| Cost of sales | 3 | 9 | ||
| Selling, general and administrative | 71 | $ 50 | 205 | $ 203 |
| Total operating costs and expenses | 74 | 50 | 214 | 203 |
| Operating loss | (67) | (50) | (191) | (203) |
| Interest expense, net | (41) | (35) | (123) | (104) |
| Net loss | $ (108) | $ (85) | $ (314) | (307) |
| Other Comprehensive income currency translation adjustment | 1 | |||
| Comprehensive net loss | $ (108) | $ (85) | $ (314) | $ (306) |
| Weighted average number of common shares outstanding - Basic and diluted | 79,007 | 79,007 | 79,007 | 78,986 |
| Basic and diluted loss per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Condensed Consolidated Statemen
| Condensed Consolidated Statements of Changes in Shareholders' Deficit (Unaudited) - 9 months ended Apr. 30, 2016 - USD ($) $ in Thousands | 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] | Total |
| Balance, beginning at Jul. 31, 2015 | $ 790 | $ 21,930 | $ (24,741) | $ (48) | $ 62 | $ 3 | $ (2,004) | |
| Balance, beginning shares at Jul. 31, 2015 | 79,007,423 | 100 | 62,048 | 2,782 | ||||
| Net Loss | (314) | (314) | ||||||
| Balance, ending at Apr. 30, 2016 | $ 790 | $ 21,930 | $ (25,055) | $ (48) | $ 62 | $ 3 | $ (2,318) | |
| Balance, ending shares at Apr. 30, 2016 | 79,007,423 | 100 | 62,048 | 2,782 |
Condensed Consolidated Stateme6
| Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
| Apr. 30, 2016 | Apr. 30, 2015 | |
| Operating activities | ||
| Net Loss | $ (314) | $ (307) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | 1 | $ 1 |
| Changes in operating assets and liabilities | ||
| Accounts receivable – trade | (1) | |
| Inventories, net | 9 | |
| Prepaid expenses, deposits and other current assets | 44 | $ 41 |
| Accounts payable and accrued expenses | 110 | 125 |
| Net cash used in operating activities | (151) | (140) |
| Financing activities | ||
| Proceeds from note payable – related party | 125 | 200 |
| Net cash provided by financing activities | 125 | 200 |
| Net (decrease) increase in cash | (26) | 60 |
| Cash, beginning of period | 40 | 21 |
| Cash, end of period | $ 14 | $ 81 |
Organization and Business
| Organization and Business | 9 Months Ended |
| Apr. 30, 2016 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Organization and Business | 1. ORGANIZATION AND BUSINESS Organization. ® Business. ® The Company had historically received revenue from royalties on sales of diagnostic monitoring hardware and software by SensorMedics and from VivoMetrics in prior years. SensorMedics indicated they would discontinue licensed product sales after their inventory was depleted and we believe their inventory is depleted, therefore, we do not anticipate any royalty revenue from SensorMedics. 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 The Company has developed a third generation of Exer-Rest The Companys 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 $314,000 and $307,000 for the nine month periods ended April 30, 2016 and 2015, respectively, and has experienced cash outflows from operating activities. The Company also has an accumulated deficit of $25.1 million as of April 30, 2016, and has potential purchase obligations at April 30, 2016 (see note 10). The Company had $14,000 of cash at April 30, 2016 and negative working capital of approximately $1,219,000. These matters raise substantial doubt about the Companys ability to continue as a going concern. The Company is continuing its business activities without any significant revenues from product sales. Absent any significant revenues from product sales, the Company is seeking debt or equity financing or a strategic collaboration. There is no assurance that the Company will be successful in this regard, and, if not successful, that it will be able to continue its business activities. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary from the outcome of this uncertainty. |
Summary of Significant Accounti
| Summary of Significant Accounting Policies | 9 Months Ended |
| Apr. 30, 2016 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation. Use of Estimates. Cash and Cash Equivalents. Allowances for Doubtful Accounts. Inventories. Tooling and Equipment. Long-lived Assets. Taxes Assessed on Revenue-Producing Transactions. Income Taxes. The Company files its tax returns as prescribed by the laws of the jurisdictions in which it operates. Tax years ranging from 2012 to 2015 remain open to examination by various taxing jurisdictions as the statute of limitations has not expired. It is the Companys policy to include income tax interest and penalty expense in its tax provision. Revenue Recognition. Advertising Costs. Research and Development Costs. ® Warranties. ® Stock-based compensation. Fair Value of Financial Instruments. Foreign Currency Translation. Comprehensive Income (Loss). Loss Contingencies. Recent Accounting Pronouncements. In July 2015, the FASB issued an accounting standard update which affects the measurement of inventory. The update requires inventory to be measured using the lower of cost and net realizable value. Net realizable value is defined in the update as the estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. The update applies to all types of inventory except inventory measured using LIFO or the retail inventory method. The update is effective prospectively for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, with early adoption permitted as of the beginning of an interim or annual reporting period. The Company adopted the update as of August 1, 2015. The adoption did not have a material effect on the consolidated financial statements. 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, 2017 and in interim periods in that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the effect the update will have on its consolidated financial statements. |
Inventories
| Inventories | 9 Months Ended |
| Apr. 30, 2016 | |
| Inventory Disclosure [Abstract] | |
| Inventories | 3. INVENTORIES The Companys inventory consisted of the following at April 30, 2016 and July 31, 2015 (in thousands): April 30, 2016 July 31, 2015 Work-in-progress, spare parts and accessories $ 11 $ 11 Finished goods 415 424 Total inventories $ 426 $ 435 Although it does not plan to do so, if the Company were to dispose of the inventory outside the course of normal business, the amount recovered by the Company could be substantially less than cost. |
Stock-Based Compensation
| Stock-Based Compensation | 9 Months Ended |
| Apr. 30, 2016 | |
| Disclosure of Compensation Related Costs, Share-based Payments [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 Companys 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 did not record any stock-based compensation for the three and nine months ended April 30, 2016, and 2015. All stock-based compensation is included in the Companys selling, general and administrative costs and expenses. The Companys 2000 Stock Option Plan (the 2000 Plan), as amended, provides for the issuance of up to 2,000,000 shares of the Companys 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 Companys Board of Directors, but incentive stock options must be granted at an exercise price not less than the fair market value of the 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. 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 Companys 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 Companys 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 April 30, 2016. The Company did not grant any stock options during the nine months ended April 30, 2016 and 2015. A summary of the Companys stock option activity for the nine months ended April 30, 2016 is as follows: Shares Weighted Average Exercise Price Weighted average remaining contractual term (years) Aggregate intrinsic Value Options outstanding, July 31, 2015 378,750 $ 0.380 Options granted - n/a Options exercised - n/a Options forfeited or expired 178,750 $ 0.320 Options outstanding, April 30, 2016 200,000 $ 0.433 0.88 $ 0.00 Options expected to vest, April 30, 2016 200,000 $ 0.433 0.88 $ 0.00 Options exercisable, April 30, 2016 200,000 $ 0.433 0.88 $ 0.00 The 200,000 options outstanding at April 30, 2016 were all issued under the 2000 Plan. There were no options exercised during the three and nine month period ended April 30, 2016 and 2015. There were 178,750 options that expired during the three and nine month period ended April 30, 2016 and there were no options forfeited or expired during the nine month period ended April 30, 2015. As of April 30, 2016, there were no unrecognized costs related to outstanding stock options. |
Royalties
| Royalties | 9 Months Ended |
| Apr. 30, 2016 | |
| Royalties [Abstract] | |
| Royalties | 5. ROYALTIES The Company is a party to two licensing agreements with SensorMedics and VivoMetrics. The Company 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. There was no royalty income from the SensorMedics license during the three and nine months ended April 30, 2016 and 2015. 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 and nine months ended April 30, 2016 and 2015. 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. |
Notes Payable
| Notes Payable | 9 Months Ended |
| Apr. 30, 2016 | |
| Debt Disclosure [Abstract] | |
| Notes Payable | 6. NOTES PAYABLE 2010 Credit Facility 2011 Promissory Notes 2012 Promissory Note. 2013 Promissory Note. 2014 Promissory Note 2015 Promissory Notes. On April 16, 2015, the Company entered into a promissory note (April 2015 Frost Gamma Note) in the amount of $100,000 with Frost Gamma), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the April 2015 Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The April 2015 Frost Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On August 12, 2015, the Company entered into a promissory note in the principal amount of $25,000 with Frost Gamma (the August 2015 Frost Gamma Note), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the August 2015 Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The August 2015 Frost Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On October 27, 2015, the Company entered into a promissory note in the principal amount of $50,000 with Frost Gamma (the October 2015 Frost Gamma Note), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the October 2015 Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The October 2015 Frost Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On October 27, 2015, the Company entered into a promissory note in the principal amount of $50,000 with Jane Hsiao, the Companys Chairman of the Board and Interim Chief Executive Officer (the October 2015 Hsiao Note). The interest rate payable by the Company on the October 2015 Hsiao Note is 11% per annum, payable on the Promissory Notes Maturity Date. The October 2015 Hsiao Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. At April 30, 2016, the Company was obligated under the above described Credit Facility and promissory notes to make future principal payments (excluding interest) as follows: Year Ending July 31, 2017 1,525,000 $ 1,525,000 |
Shareholders' Equity
| Shareholders' Equity | 9 Months Ended |
| Apr. 30, 2016 | |
| 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 25shares of the Companys 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 Companys common stock. The conversion rate is subject to adjustments in the event of stock splits, stock dividends, reverse stock splits and certain other events. The Company did not issue any shares of the Companys common stock for the nine months ended April 30, 2016 and issued 65,000 shares of the Companys common stock for the conversion of 13 shares of Series D Preferred Stock during the nine months ended April 30, 2015. No preferred stock dividends were declared for the three and nine months ended April 30, 2016 and 2015. |
Basic and Diluted Loss per Shar
| Basic and Diluted Loss per Share | 9 Months Ended |
| Apr. 30, 2016 | |
| Earnings 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 and nine months ended April 30, 2016 and 2015, 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: April 30, 2016 April 30, 2015 Stock options 200,000 378,750 Series C Preferred Stock 1,551,200 1,551,200 Series D Preferred Stock 13,910,000 13,910,000 Total 15,661,200 15,839,950 |
Related Party Transactions
| Related Party Transactions | 9 Months Ended |
| Apr. 30, 2016 | |
| 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 Companys Common Stock. The rental payments under the Miami office lease, which commenced January 1, 2008 and expired on December 31, 2012, were approximately $1,250 per month and are on a month-to-month basis. In February 2016 the office space rent was reduced to $0 per month. The Company recorded rent expense related to the Miami lease of approximately $1,250 and $9,000 respectively, for the three and nine months ended April 30, 2016, and approximately $4,000 and $12,000, respectively, for the three and nine months ended April 30, 2015. As of April 30, 2016, the Company payable due on the Miami office lease was approximately $76,000. 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 Companys 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 with an unrelated third party. The Company did not record any rent expense related to the Hialeah warehouse for the three and nine months ended April 30, 2016 and $0 and $6,000, respectively, for the three and nine months ended April 30, 2015. 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 and nine months ended April 30, 2016. There was $1.0 million outstanding balance due, plus interest, on the Credit Facility as of April 30, 2016 and July 31, 2015 and there is no available balance remaining. The Credit Facility expires in July 31, 2017. On September 12, 2011, the Company entered into a Promissory Note in the principal amount of $50,000 with Frost Gamma Investments Trust (Frost Gamma), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock (the Frost Gamma Note). The interest rate payable on the Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date of July 31, 2017. The Company may prepay the Frost Gamma Note 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 Investments, L.P. (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 on the Hsu Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date of July 31, 2017. The Company may prepay the HSU Gamma Note 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 Companys Chairman of the Board and Interim Chief Executive Officer (the Hsiao Note). The interest rate payable by the Company on the Hsiao Note is 11% per annum, payable on the Promissory Notes Maturity Date of July 31, 2017. The Hsiao Note may be prepaid in advance of the Promissory Notes Maturity Date without penalty. 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, 2017. The 2014 Hsiao Note may be prepaid in advance of the Maturity Date without penalty. On February 2, 2015, the Company entered into a promissory note (the 2015 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 the Company on the 2015 Hsiao Note is 11% per annum, payable on the maturity date of July 31, 2017. The 2015 Hsiao Note may be prepaid in advance of the Maturity Date without penalty. On April 16, 2015, the Company entered into a promissory note (2015 Frost Note) in the amount of $100,000 with Frost Gamma. The interest rate payable by the Company on the 2015 Frost Note is 11% per annum, payable on the maturity date of July 31, 2017. The 2015 Frost Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On August 12, 2015, the Company entered into a promissory note in the principal amount of $25,000 with Frost Gamma (the August 2015 Frost Gamma Note), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the August 2015 Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The August 2015 Frost Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On October 27, 2015, the Company entered into a promissory note in the principal amount of $50,000 with Frost Gamma (the October 2015 Frost Gamma Note), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the October 2015 Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The October 2015 Frost Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On October 27, 2015, the Company entered into a promissory note in the principal amount of $50,000 with Jane Hsiao, the Companys Chairman of the Board and Interim Chief Executive Officer (the October 2015 Hsiao Note). The interest rate payable by the Company on the October 2015 Hsiao Note is 11% per annum, payable on the Promissory Notes Maturity Date. The October 2015 Hsiao Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On June 1, 2016, the Company entered into a promissory note in the principal amount of $100,000 with Frost Gamma (the June 2016 Frost Gamma Note), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the June 2016 Frost Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The June 2016 Frost Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. On June 1, 2016, the Company entered into a promissory note in the principal amount of $100,000 with Hsu Gamma, an entity controlled by NIMS Chairman of the Board and Interim Chief Executive Officer, Jane H. Hsiao, (the June 2016 Hsu Gamma Note). The interest rate payable by NIMS on the June 2016 Hsu Gamma Note is 11% per annum, payable on the Promissory Notes Maturity Date. The June 2016 Hsu Gamma Note may be prepaid in advance of the Promissory Notes Maturity Date without premium or penalty. The Company also incurred interest expense related to the Credit Facility of approximately $27,000 and $83,000 for the three and nine months ended April 30, 2016, as well as for the three and nine months ended April 30 2015, respectively. The Company also incurred interest expense related to the promissory notes of approximately $14,000 and $40,000 for the three and nine months ended April 30, 2016, respectively, and $8,000 and $21,000 for the three and nine months ended April 30, 2015, respectively. Approximately $764,000 and $641,000 of accrued interest remained outstanding for all debt at April 30, 2016 and July 31, 2015, respectively. Dr. Hsiao, Dr. Frost and directors Steven Rubin and Rao Uppaluri are each stockholders, current or former 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 IDI, Inc. (IDI) (formerly known as Tiger Media), a publicly-traded data fusion company. The Companys Chief Financial Officer also served as the Chief Financial Officer of TransEnterix until October 2, 2013. The Companys Chief Financial Officer continued as an employee of TransEnterix until March 3, 2014, during which he supervised the Miami based accounting staff of TransEnterix under a cost sharing arrangement whereby the total salaries of the Miami based accounting staff was shared by the Company and TransEnterix. Since December 2009, the Companys Chief Legal Officer has served under a similar cost sharing arrangement as Corporate Counsel of IDI and as the Chief Legal Officer of each of TransEnterix and Tiger X. The Company recorded additions to selling, general and administrative costs and expenses to account for the sharing of costs under these arrangements of $9,000 and $27,000, respectively, for the three and nine months ended April 30, 2016, and $9,000 and $27,000, respectively, for the three and nine months ended April 30, 2015. Accounts payable to TransEnterix related to these arrangements totaled approximately $800 and $1,200 respectively, at April 30, 2016 and July 31, 2015. |
Commitments and Contingencies
| Commitments and Contingencies | 9 Months Ended |
| Apr. 30, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 10. COMMITMENTS AND CONTINGENCIES Leases. The Company is under an operating lease agreement for office space that expired in 2012 and continued on a month to month basis. In February 2016 the office space rent was reduced to $0 per month. We house our inventory in approximately 4,000 square feet of warehouse space in Pembroke Park, Florida. The lease commenced September 15, 2014 and originally expired on September 30, 2015 and we have exercised our one year option to renew that extends the expiration to September 15, 2016. We then have available an additional one year option to extend. 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 $41,000 and $45,000 for the nine months ended April 30, 2016 and 2015, respectively. Future minimum rental commitments under non-cancelable leases are approximately as follows for the years ended July 31: 2016 $ 11,000 2017 7,000 Total $ 18,000 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 partys obligations under the Agreement were to be limited to obligations related to confirm 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 Companys 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 April 30, 2016, the Company had paid Sing Lin $1.7 million in connection with orders placed through that date. Of this amount, $90,000 was previously included as advances to contract manufacturer. As of April 30, 2016, the Company has approximately $41,000 of payables due to Sing Lin. As of April 30, 2016 and July 31, 2015, aggregate minimum future purchases under the Agreement totaled approximately $13.9 million. As of April 30, 2016, 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 June 10, 2016, 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. |
Long-Lived Assets
| Long-Lived Assets | 9 Months Ended |
| Apr. 30, 2016 | |
| Property, Plant and Equipment [Abstract] | |
| Long-Lived Assets | 11. LONG-LIVED ASSETS The Companys long-lived assets include furniture and equipment, office equipment and computers, tooling, websites and software, leasehold improvements, patents and trademarks. Tooling and equipment, net of accumulated depreciation, consists of the following at April 30, 2016 and July 31, 2015 (in thousands): Estimated Useful Life April 30, 2016 July 31, 2015 Furniture and fixtures, leasehold improvements, office equipment and computers 3 5years $ 85 $ 85 Website and software 3 years 26 26 111 111 Less accumulated depreciation (111 ) (110 ) Tooling and equipment, net $ - $ 1 Depreciation expense was $0 and $1,000 during the three and nine months ended April 30, 2016 and was $0 and $1,000 during the three and nine months ended April 30, 2015. Nine Exer-Rest ® |
Subsequent Events
| Subsequent Events | 9 Months Ended |
| Apr. 30, 2016 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 12. SUBSEQUENT EVENTS On June 1, 2016, the Company entered into a promissory note in the principal amount of $100,000 with Frost Gamma (the June 2016 Frost Gamma Note), a trust controlled by Dr. Phillip Frost, which beneficially owns in excess of 10% of the Companys common stock. The interest rate payable by the Company on the June 2016 Frost Gamma Note is 11% per annum, payable on the July 31, 2017 maturity date. The June 2016 Frost Gamma Note may be prepaid in advance of the July 31, 2017 maturity date without premium or penalty. On June 1, 2016, the Company entered into a promissory note in the principal amount of $100,000 with Hsu Gamma, an entity controlled by NIMS Chairman of the Board and Interim Chief Executive Officer, Jane H. Hsiao, (the June 2016 Hsu Gamma Note). The interest rate payable by NIMS on the June 2016 Hsu Gamma Note is 11% per annum, payable on the July 31, 2017 maturity date. The June 2016 Hsu Gamma Note may be prepaid in advance of the July 31, 2017 maturity date without premium or penalty. |
Summary of Significant Accoun19
| Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
| Apr. 30, 2016 | |
| Accounting Policies [Abstract] | |
| Consolidation | Consolidation. |
| Use of Estimates | Use of Estimates. |
| Cash and Cash Equivalents | Cash and Cash Equivalents. |
| Allowances for Doubtful Accounts | Allowances for Doubtful Accounts. |
| Inventories | Inventories. |
| Tooling and Equipment | Tooling and Equipment. |
| Long-lived Assets | Long-lived Assets. |
| Taxes Assessed on Revenue-Producing Transactions | Taxes Assessed on Revenue-Producing Transactions. |
| Income Taxes | Income Taxes. The Company files its tax returns as prescribed by the laws of the jurisdictions in which it operates. Tax years ranging from 2012 to 2015 remain open to examination by various taxing jurisdictions as the statute of limitations has not expired. It is the Companys policy to include income tax interest and penalty expense in its tax provision. |
| Revenue Recognition | Revenue Recognition. |
| Advertising Costs | Advertising Costs. |
| Research and Development Costs | Research and Development Costs. ® |
| Warranties | Warranties. |
| Stock-based Compensation | Stock-based compensation. |
| Fair Value of Financial Instruments | Fair Value of Financial Instruments. |
| Foreign Currency Translation | Foreign Currency Translation. |
| Comprehensive Income (Loss) | Comprehensive Income (Loss). |
| Loss Contingencies | Loss Contingencies. |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements. In July 2015, the FASB issued an accounting standard update which affects the measurement of inventory. The update requires inventory to be measured using the lower of cost and net realizable value. Net realizable value is defined in the update as the estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. The update applies to all types of inventory except inventory measured using LIFO or the retail inventory method. The update is effective prospectively for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, with early adoption permitted as of the beginning of an interim or annual reporting period. The Company adopted the update as of August 1, 2015. The adoption did not have a material effect on the consolidated financial statements. 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, 2017 and in interim periods in that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the effect the update will have on its consolidated financial statements. |
Inventories (Tables)
| Inventories (Tables) | 9 Months Ended |
| Apr. 30, 2016 | |
| Inventory Disclosure [Abstract] | |
| Schedule of Inventory | The Companys inventory consisted of the following at April 30, 2016 and July 31, 2015 (in thousands): April 30, 2016 July 31, 2015 Work-in-progress, spare parts and accessories $ 11 $ 11 Finished goods 415 424 Total inventories $ 426 $ 435 |
Stock-Based Compensation (Table
| Stock-Based Compensation (Tables) | 9 Months Ended |
| Apr. 30, 2016 | |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Schedule of Share-based Compensation Stock Options Activity | A summary of the Companys stock option activity for the nine months ended April 30, 2016 is as follows: Shares Weighted Average Exercise Price Weighted average remaining contractual term (years) Aggregate intrinsic Value Options outstanding, July 31, 2015 378,750 $ 0.380 Options granted - n/a Options exercised - n/a Options forfeited or expired 178,750 $ 0.320 Options outstanding, April 30, 2016 200,000 $ 0.433 0.88 $ 0.00 Options expected to vest, April 30, 2016 200,000 $ 0.433 0.88 $ 0.00 Options exercisable, April 30, 2016 200,000 $ 0.433 0.88 $ 0.00 |
Notes Payable (Tables)
| Notes Payable (Tables) | 9 Months Ended |
| Apr. 30, 2016 | |
| Debt Disclosure [Abstract] | |
| Schedule of Credit Facility and Promissory Notes to Future Principal Payments | At April 30, 2016, the Company was obligated under the above described Credit Facility and promissory notes to make future principal payments (excluding interest) as follows: Year Ending July 31, 2017 1,525,000 $ 1,525,000 |
Basic and Diluted Loss per Sh23
| Basic and Diluted Loss per Share (Tables) | 9 Months Ended |
| Apr. 30, 2016 | |
| Earnings Per Share [Abstract] | |
| Schedule of Common Shares Not Included in Calcutation of Diluted EPS | Potential common shares not included in calculating diluted net loss per share are as follows: April 30, 2016 April 30, 2015 Stock options 200,000 378,750 Series C Preferred Stock 1,551,200 1,551,200 Series D Preferred Stock 13,910,000 13,910,000 Total 15,661,200 15,839,950 |
Commitments and Contingencies (
| Commitments and Contingencies (Tables) | 9 Months Ended |
| Apr. 30, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Schedule of Future Minimum Rental Commitments Under Non-cancelable Leases | Future minimum rental commitments under non-cancelable leases are approximately as follows for the years ended July 31: 2016 $ 11,000 2017 7,000 Total $ 18,000 |
Long-Lived Assets (Tables)
| Long-Lived Assets (Tables) | 9 Months Ended |
| Apr. 30, 2016 | |
| Property, Plant and Equipment [Abstract] | |
| Schedule of Long Lived Assets Held-for-Sale | The Companys long-lived assets include furniture and equipment, office equipment and computers, tooling, websites and software, leasehold improvements, patents and trademarks. Tooling and equipment, net of accumulated depreciation, consists of the following at April 30, 2016 and July 31, 2015 (in thousands): Estimated Useful Life April 30, 2016 July 31, 2015 Furniture and fixtures, leasehold improvements, office equipment and computers 3 5years $ 85 $ 85 Website and software 3 years 26 26 111 111 Less accumulated depreciation (111 ) (110 ) Tooling and equipment, net $ - $ 1 |
Organization and Business (Deta
| Organization and Business (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | Jul. 31, 2015 | Jul. 31, 2014 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||
| Net income (loss) | $ (108) | $ (85) | $ (314) | $ (307) | ||
| Accumulated deficit | (25,055) | (25,055) | $ (24,741) | |||
| Cash | 14 | $ 81 | 14 | $ 81 | $ 40 | $ 21 |
| Negative working capital | $ 1,219 | $ 1,219 | ||||
Summary of Significant Accoun27
| Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | Jul. 31, 2015 | Jul. 31, 2014 | |
| Cash | $ 14 | $ 81 | $ 14 | $ 81 | $ 40 | $ 21 |
| Advertising and promotional costs | 0 | 0 | 0 | 0 | ||
| Warranty costs | $ 0 | $ 0 | $ 0 | 0 | ||
| Foreign currency translation adjustments | $ 1 | |||||
| Exer-Rest® Products [Member] | U.S. [Member] | ||||||
| Product warranties period | 2 years | |||||
| Exer-Rest® Products [Member] | Outside U.S. [Member] | ||||||
| Product warranties period | 1 year | |||||
| Minimum [Member] | ||||||
| Income tax examination year under examination | 2,012 | |||||
| Maximum [Member] | ||||||
| Income tax examination year under examination | 2,015 | |||||
Inventories - Schedule of Inven
| Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands | Apr. 30, 2016 | Jul. 31, 2015 |
| Inventory Disclosure [Abstract] | ||
| Work-in-progress, spare parts and accessories | $ 11 | $ 11 |
| Finished goods | 415 | 424 |
| Total inventories | $ 426 | $ 435 |
Stock-Based Compensation (Detai
| Stock-Based Compensation (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | Jul. 31, 2015 | Nov. 30, 2010 | |
| Allocated Share-based compensation expense | $ 0 | $ 0 | $ 0 | $ 0 | ||
| Share-based compensation options outstanding | 200,000 | 200,000 | 378,750 | |||
| Share-based compensation options exercised | ||||||
| Share-based compensation options forfeited or expired | 178,750 | 178,750 | ||||
| Unrecognized costs related to outstanding stock options | $ 0 | $ 0 | ||||
| 2011 Stock Incentive Plan [Member] | ||||||
| Maximum number of shares authorized for issuance under the plan | 4,000,000 | |||||
| 2000 Stock Option Plan [Member] | ||||||
| Maximum number of shares authorized for issuance under the plan | 2,000,000 | 2,000,000 | ||||
| 2000 Stock Option Plan [Member] | ||||||
| Share-based compensation, Description | The exercise price of the options is determined by the compensation committee of the Companys Board of Directors, but incentive stock options must be granted at an exercise price not less than the fair market value of the 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. | |||||
| Stock option plan expiration date | Mar. 1, 2012 | |||||
| 2000 Stock Option Plan [Member] | Maximum [Member] | ||||||
| Options expire term | 10 years | |||||
Stock-Based Compensation - Sche
| Stock-Based Compensation - Schedule of Share-based Compensation Stock Options Activity (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
| Options Outstanding Shares, beginning balance | 378,750 | |||
| Options granted | ||||
| Options exercised | ||||
| Options forfeited or expired | 178,750 | |||
| Options Outstanding Shares, Ending balance | 200,000 | 200,000 | ||
| Options expected to vest, Shares | 200,000 | 200,000 | ||
| Options exercisable, Shares | 200,000 | 200,000 | ||
| Weighted Average Exercise Price Options Outstanding, Beginning balance | $ 0.380 | |||
| Weighted Average Exercise Price Options granted | ||||
| Weighted Average Exercise Price Options exercised | ||||
| Weighted Average Exercise Price Options forfeited or expired | $ 0.320 | |||
| Weighted Average Exercise Price Options Outstanding, Ending balance | $ 0.433 | 0.433 | ||
| Weighted Average Exercise Price Options expected to vest | 0.433 | 0.433 | ||
| Weighted Average Exercise Price Options exercisable | 0.433 | $ 0.433 | ||
| Weighted average remaining contractual term (years) Options outstanding | 10 months 17 days | |||
| Weighted average remaining contractual term (years) Options expected to vest | 10 months 17 days | |||
| Weighted average remaining contractual term (years) Options exercisable | 10 months 17 days | |||
| Aggregate intrinsic value Options outstanding | $ 0 | |||
| Aggregate intrinsic Value Options expected to vest | 0 | 0 | ||
| Aggregate intrinsic Value Options exercisable | $ 0 | $ 0 | ||
Royalties (Details Narrative)
| Royalties (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | |
| SensorMedics [Member] | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Royalty income | $ 0 | $ 0 | $ 0 | $ 0 |
| VivoMetrics [Member] | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Royalty income | $ 0 | $ 0 | $ 0 | $ 0 |
Notes Payable (Details Narrtive
| Notes Payable (Details Narrtive) - USD ($) | Apr. 16, 2015 | Feb. 02, 2015 | Sep. 24, 2014 | Feb. 22, 2013 | May 30, 2012 | Sep. 12, 2011 | Mar. 31, 2010 | Apr. 30, 2016 | Apr. 30, 2015 | Oct. 27, 2015 | Aug. 12, 2015 | Jul. 31, 2015 |
| Short-term Debt [Line Items] | ||||||||||||
| Proceeds from unrelated party | $ 125,000 | $ 200,000 | ||||||||||
| 2011 Promissory Notes [Member] | Frost Gamma Investment Trust [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Beneficial ownership percentage | 10.00% | |||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||
| Proceeds from unrelated party | $ 100,000 | |||||||||||
| 2012 Promissory Note [Member] | Hsu Gamma Investments L P [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||
| 2013 Promissory Note [Member] | Jane Hsiao [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||
| 2014 Promissory Note [Member] | Jane Hsiao [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||
| 2015 Promissory Note [Member] | Frost Gamma Investment Trust [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Beneficial ownership percentage | 10.00% | 10.00% | 10.00% | |||||||||
| Debt instrument face amount | $ 100,000 | $ 50,000 | $ 25,000 | |||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | 11.00% | 11.00% | |||||||||
| 2015 Promissory Note [Member] | Jane Hsiao [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Debt instrument face amount | $ 50,000 | $ 50,000 | ||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | 11.00% | ||||||||||
| 2010 Credit Facility [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Line of credit facility outstanding | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||||||||
| 2010 Credit Facility [Member] | Frost Gamma and Hsu Gamma [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Beneficial ownership percentage | 10.00% | |||||||||||
| Debt instrument face amount | $ 1,000,000 | |||||||||||
| Debt instrument maturity date | Jul. 31, 2017 | |||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||
| 2010 Credit Facility [Member] | Maximum [Member] | Frost Gamma and Hsu Gamma [Member] | ||||||||||||
| Short-term Debt [Line Items] | ||||||||||||
| Debt instrument interest rate | 16.00% |
Notes Payable - Schedule of Cre
| Notes Payable - Schedule of Credit Facility and Promissory Notes to Future Principal Payments (Details) $ in Thousands | Apr. 30, 2016USD ($) |
| Debt Disclosure [Abstract] | |
| 2,017 | $ 1,525 |
| Total | $ 1,525 |
Shareholders' Equity (Details N
| Shareholders' Equity (Details Narrative) - $ / shares | 9 Months Ended | |
| Apr. 30, 2016 | Apr. 30, 2015 | |
| 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] | ||
| Preferred stock liquidation preference | 1 | |
| Dividends payable amount per share | 0.10 | |
| Preferred stock, redemption price per share | $ 0.10 | |
| Convertible preferred stock, shares issued upon conversion | 25 | |
| Preferred stock conversion premium | $ 4.20 | |
| Preferred stock, conversion basis | Each share of Series C Preferred Stock is convertible into 25 shares | |
| Series D Preferred Stock [Member] | ||
| Subsidiary, Sale of Stock [Line Items] | ||
| Preferred stock liquidation preference | $ 1,500 | |
| Convertible preferred stock, shares issued upon conversion | 5,000 | 65,000 |
| Preferred stock, conversion basis | Each share of Series D Preferred Stock is convertible into 5,000 shares of the Company's common stock. | |
| Conversion of stock, shares converted | 13 | |
Basic and Diluted Loss per Sh35
| Basic and Diluted Loss per Share - Schedule of Common Shares Not Included in Calcutation of Diluted EPS (Details) - shares | 9 Months Ended | |
| Apr. 30, 2016 | Apr. 30, 2015 | |
| Class of Stock [Line Items] | ||
| Total | 15,661,200 | 15,839,950 |
| 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 | 13,910,000 |
| Stock Option [Member] | ||
| Class of Stock [Line Items] | ||
| Total | 200,000 | 378,750 |
Related Party Transactions (Det
| Related Party Transactions (Details Narrative) - USD ($) | Feb. 29, 2016 | Apr. 16, 2015 | Feb. 02, 2015 | Sep. 24, 2014 | Feb. 22, 2013 | May 30, 2012 | Sep. 12, 2011 | Jan. 01, 2008 | Feb. 29, 2016 | Mar. 31, 2010 | Feb. 01, 2009 | Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | Oct. 27, 2015 | Aug. 12, 2015 | Jul. 31, 2015 |
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Rent expenses | $ 0 | |||||||||||||||||
| Operating leases, rent expense | $ 0 | $ 41,000 | $ 45,000 | |||||||||||||||
| Interest expense | $ 27,000 | $ 27,000 | 83,000 | 83,000 | ||||||||||||||
| Interest expense related to promissory notes | 14,000 | 8,000 | 40,000 | 21,000 | ||||||||||||||
| Accrued interest | 764,000 | 764,000 | $ 641,000 | |||||||||||||||
| Related party transaction selling general and administrative expenses from transactions with related party | $ 9,000 | 9,000 | $ 27,000 | 27,000 | ||||||||||||||
| 2011 Promissory Notes [Member] | Frost Gamma Investment Trust [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Beneficial ownership percentage | 10.00% | |||||||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||||||||
| 2012 Promissory Note [Member] | Hsu Gamma Investments L P [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||||||||
| 2013 Promissory Note [Member] | Jane Hsiao [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||||||||
| 2014 Promissory Note [Member] | Jane Hsiao [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt instrument face amount | $ 50,000 | |||||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Debt instrument interest rate | 11.00% | |||||||||||||||||
| 2015 Promissory Note [Member] | Frost Gamma Investment Trust [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Beneficial ownership percentage | 10.00% | 10.00% | 10.00% | |||||||||||||||
| Debt instrument face amount | $ 100,000 | $ 50,000 | $ 25,000 | |||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Debt instrument interest rate | 11.00% | 11.00% | 11.00% | |||||||||||||||
| 2015 Promissory Note [Member] | Jane Hsiao [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt instrument face amount | $ 50,000 | $ 50,000 | ||||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Debt instrument interest rate | 11.00% | 11.00% | ||||||||||||||||
| 2016 Promissory Note [Member] | Frost Gamma Investment Trust [Member] | June 1, 2016 [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Beneficial ownership percentage | 10.00% | 10.00% | ||||||||||||||||
| Debt instrument face amount | $ 100,000 | $ 100,000 | ||||||||||||||||
| Debt instrument interest rate | 11.00% | 11.00% | ||||||||||||||||
| 2016 Promissory Note [Member] | Jane Hsiao [Member] | June 1, 2016 [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt instrument face amount | $ 100,000 | $ 100,000 | ||||||||||||||||
| Debt instrument interest rate | 11.00% | 11.00% | ||||||||||||||||
| 2010 Credit Facility [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Line of credit facility outstanding | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | 1,000,000 | ||||||||||||||
| Debt instrument, maturity date | Jul. 31, 2017 | |||||||||||||||||
| Dr Phillip Frost [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Beneficial ownership percentage | 10.00% | |||||||||||||||||
| Miami Lease [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Lease for office space, term | 5 years | |||||||||||||||||
| Due to lease amount | 76,000 | $ 76,000 | ||||||||||||||||
| Lease expire date | Dec. 31, 2012 | |||||||||||||||||
| Payments for Rent | $ 1,250 | |||||||||||||||||
| Operating leases, rent expense | 1,250 | 4,000 | 9,000 | $ 12,000 | ||||||||||||||
| Hialeah Lease [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Lease for office space, term | 3 years | |||||||||||||||||
| Lease expire date | Jan. 31, 2012 | |||||||||||||||||
| Operating leases, rent expense | 0 | $ 0 | 0 | $ 6,000 | ||||||||||||||
| TransEnterix [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Accounts payable, related parties | $ 800 | $ 800 | $ 1,200 |
Commitments and Contingencies37
| Commitments and Contingencies (Details Narrative) $ in Thousands | Feb. 29, 2016USD ($) | Sep. 04, 2007USD ($) | Apr. 30, 2016USD ($)a | Apr. 30, 2015USD ($) | Jul. 31, 2015USD ($) |
| Area of land | a | 4,000 | ||||
| Lease expiration date description | The lease commenced September 15, 2014 and originally expired on September 30, 2015 and we have exercised our one year option to renew that extends the expiration to September 15, 2016. We then have available an additional one year option to extend. | ||||
| Operating leases, rent expense | $ 0 | $ 41 | $ 45 | ||
| Manufacturing costs | $ 471 | ||||
| Cost of utilities | $ 150 | ||||
| Payments to suppliers | 1,700 | ||||
| Advances to contract manufacturer | 90 | ||||
| Purchase obligation | 13,900 | $ 13,900 | |||
| Exer Rest Units [Member] | |||||
| Purchase obligation, due in next twelve months | 2,600 | ||||
| Purchase obligation, due in second year | 4,100 | ||||
| Purchase obligation, due in third year | 8,800 | ||||
| Sing Lin [Member] | |||||
| Payables to customers | $ 41 |
Commitments and Contingencies -
| Commitments and Contingencies - Schedule of Future Minimum Rental Commitments Under Non-cancelable Leases (Details) $ in Thousands | Apr. 30, 2016USD ($) |
| Commitments and Contingencies Disclosure [Abstract] | |
| 2,016 | $ 11 |
| 2,017 | 7 |
| Total | $ 18 |
Long-Lived Assets (Details Narr
| Long-Lived Assets (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
| Apr. 30, 2016 | Apr. 30, 2015 | Apr. 30, 2016 | Apr. 30, 2015 | Jul. 31, 2015 | |
| Long Lived Assets [Line Items] | |||||
| Depreciation expense | $ 0 | $ 0 | $ 1 | $ 1 | |
| Aggregate cost of furniture and fixture | 111 | $ 111 | $ 111 | ||
| Estimated useful lives | 5 years | ||||
| Furniture and Fixtures [Member] | |||||
| Long Lived Assets [Line Items] | |||||
| Aggregate cost of furniture and fixture | $ 26 | $ 26 | |||
Long-Lived Assets - Schedule of
| Long-Lived Assets - Schedule of Long Lived Assets Held-for-Sale (Details) - USD ($) $ in Thousands | 9 Months Ended | |
| Apr. 30, 2016 | Jul. 31, 2015 | |
| Long Lived Assets Held-for-sale [Line Items] | ||
| Estimated Useful Life | 5 years | |
| Tooling and equipment, gross | $ 111 | $ 111 |
| Less accumulated depreciation | $ (111) | (110) |
| Tooling and equipment, net | 1 | |
| Furniture and Fixtures Leasehold Improvements Office Equipment and Computers [Member] | ||
| Long Lived Assets Held-for-sale [Line Items] | ||
| Tooling and equipment, gross | $ 85 | 85 |
| Furniture and Fixtures Leasehold Improvements Office Equipment and Computers [Member] | Minimum [Member] | ||
| Long Lived Assets Held-for-sale [Line Items] | ||
| Estimated Useful Life | 3 years | |
| Furniture and Fixtures Leasehold Improvements Office Equipment and Computers [Member] | Maximum [Member] | ||
| Long Lived Assets Held-for-sale [Line Items] | ||
| Estimated Useful Life | 5 years | |
| Website and Software [Member] | ||
| Long Lived Assets Held-for-sale [Line Items] | ||
| Estimated Useful Life | 3 years | |
| Tooling and equipment, gross | $ 26 | $ 26 |
Subsequent Events (Details Narr
| Subsequent Events (Details Narrative) - Subsequent Event [Member] $ in Thousands | Jun. 01, 2016USD ($) |
| Frost Gamma Note [Member] | |
| Promissory note principal amount | $ 100 |
| Beneficial ownership percentage | 10.00% |
| Debt instrument interest rate | 11.00% |
| Debt instrument, maturity date | Jul. 31, 2017 |
| Hsu Gamma Note [Member] | |
| Promissory note principal amount | $ 100 |
| Debt instrument interest rate | 11.00% |
| Debt instrument, maturity date | Jul. 31, 2017 |