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Equity Investments (Tables) | 3 Months Ended
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Oct. 31, 2023
Cash and Cash Equivalents [Abstract] |
Schedule of Equity Investments | Equity investments consist of the following: Schedule of Equity Investments
|  | October 31, 2023 |  |  | July 31, 2023 |
|  | (in thousands) |
Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2023 and July 31, 2023 |  | $ | 81 |  |  | $ | 89 |
Rafael Holdings, Inc. Class B common stock, 278,810 shares at October 31, 2023 and July 31, 2023 |  |  | 496 |  |  |  | 558 |
Other marketable equity securities |  |  | 281 |  |  |  | 1,497 |
Fixed income mutual funds |  |  | 3,903 |  |  |  | 4,054 |
Current equity investments |  | $ | 4,761 |  |  | $ | 6,198 |
Visa Inc. Series C Convertible Participating Preferred Stock (“Visa Series C Preferred”) |  | $ | 1,249 |  |  | $ | 1,263 |
Convertible preferred stock—equity method investment |  |  | 2,444 |  |  |  | 2,784 |
Hedge funds |  |  | 3,002 |  |  |  | 3,002 |
Other |  |  | 1,455 |  |  |  | 2,825 |
Noncurrent equity investments |  | $ | 8,150 |  |  | $ | 9,874 |
Schedule of Carrying Value of Equity Investments | The changes in the carrying value of the Company’s equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows: Schedule of Carrying Value of Equity Investments
|  | Three Months Ended October 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Balance, beginning of period |  | $ | 1,632 |  |  | $ | 1,501 |
Adjustment for observable transactions involving a similar investment from the same issuer |  |  | (14 | ) |  |  | (27 | )
Upward adjustment |  |  | 129 |  |  |  | — |
Impairments |  |  | — |  |  |  | — |
Balance, end of the period |  | $ | 1,747 |  |  | $ | 1,474 |
Schedule of Unrealized (losses) Gains for All Equity Investments | Unrealized losses for all equity investments measured at fair value included the following: Schedule of Unrealized (losses) Gains for All Equity Investments
|  | Three Months Ended October 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Net losses recognized during the period on equity investments |  | $ | (917 | ) |  | $ | (1,941 | )
Plus: net losses recognized during the period on equity investments sold during the period |  |  | — |  |  |  | 4 |
Unrealized losses recognized during the period on equity investments still held at the reporting date |  | $ | (917 | ) |  | $ | (1,937 | )
The unrealized gains and losses for all equity investments measured at fair value in the table above included the following:
|  | Three Months Ended October 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Unrealized losses recognized during the period on equity investments: |  |  |  |  |  |
Rafael Class B common stock |  | $ | (62 | ) |  | $ | (72 | )
Zedge Class B common stock |  | $ | (8 | ) |  | $ | (27 | )
Unrealized losses recognized during the period on equity investments still held at the reporting date |  | $ | (917 | ) |  | $ | (1,937 | )
Summary of Changes in Equity Method Investments | The following table summarizes the change in the balance of the Company’s equity method investment: Summary of Changes in Equity Method Investments
|  | Three Months Ended October 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Balance, beginning of period |  | $ | 2,784 |  |  | $ | 1,001 |
Purchase of convertible preferred stock |  |  | 672 |  |  |  | — |
Equity in the net loss of investee |  |  | (670 | ) |  |  | (470 | )
Amortization of equity method basis difference |  |  | (342 | ) |  |  | (182 | )
Balance, end of period |  | $ | 2,444 |  |  | $ | 349 |
Summary of Statements of Operations | Summarized financial information of the EMI was as follows: Summary of Statements of Operations
|  | Three Months Ended October 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Revenues |  | $ | 2,551 |  |  | $ | 1,873 |
Costs and expenses: |  |  |  |  |  |  |  |
Direct cost of revenues |  |  | 2,193 |  |  |  | 1,694 |
Selling, general and administrative |  |  | 2,093 |  |  |  | 1,636 |
Total costs and expenses |  |  | 4,286 |  |  |  | 3,330 |
Loss from operations |  |  | (1,735 | ) |  |  | (1,457 | )
Other expense, net |  |  | (104 | ) |  |  | (344 | )
Net loss |  | $ | (1,839 | ) |  | $ | (1,801 | )

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