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Subsequent Event Subsequent Event
9 Months Ended
Apr. 30, 2018
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NOTE 13 – Subsequent Events
On May 22, 2018, the United States District Court for the Eastern District of California returned a jury verdict for the Company on its fraud claim against KPIT for $4.7 million, and on its professional negligence claim against KPIT for $16.3 million, and the jury found for KPIT on its implied covenant counterclaim against the Company for $4.9 million. Post-trial proceedings are expected in this lawsuit. The award represents a gain contingency and will not be recognized in the Company’s financial statements until realized. See Note 10 – Legal Proceedings for further details.