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Business Segment Information
 12 Months Ended
Jul. 31, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION

NOTE 15 – BUSINESS SEGMENT INFORMATION

 

The Company conducts business as two operating segments, Healthcare and Real Estate. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s CEO and the chief operating decision-maker.

 

The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its Healthcare segment based primarily on research and development efforts and results of clinical trials and the Real Estate segment based primarily on results of operations. All investments in Cornerstone Pharmaceuticals and assets and expenses associated with LipoMedix, Barer, Farber, and Rafael Medical Devices are tracked separately in the Healthcare segment.

 

The Healthcare segment is comprised of preferred and common equity interests and the Warrant to purchase equity interests in Cornerstone Pharmaceuticals, a majority equity interest in LipoMedix, Barer, Farber, and Rafael Medical Devices. To date, the Healthcare segment has not generated any revenues.

 

The Real Estate segment consists of the Company’s real estate holdings, comprised of a portion of a commercial building in Israel.

 

Operating results for the business segments of the Company are as follows:

 

(in thousands)  Healthcare   Real Estate   Total 
Year Ended July 31, 2022            
Revenues  $
—
   $410   $410 
(Loss) income from operations   (60,658)   181    (60,477)
(Loss) income from continuing operations before income taxes   (140,153)   181    (139,972)
                
Year Ended July 31, 2021               
Revenues  $
—
   $802   $802 
(Loss) income from operations   (28,811)   612    (28,199)
(Loss) income from continuing operations before income taxes   (24,787)   1,361    (23,426)

 

Geographic Information

 

Revenues from tenants located outside of the United States were generated entirely from related parties located in Israel. Revenues from these non-United States customers as a percentage of total revenues were as follows (revenues by country are determined based on the location of the related facility):

 

Year Ended July 31,  2022   2021 
Revenue from tenants located in Israel   7%   7%

 

Net long-lived assets and total assets held outside of the United States, which are located in Israel, were as follows:

 

(in thousands)  United States   Israel   Total 
July 31, 2022            
Long-lived assets, net  $305   $1,465   $1,770 
Total assets   114,053    4,267    118,320 
                
July 31, 2021               
Long-lived assets, net  $306   $1,534   $1,840 
Total assets   150,847    3,208    154,055