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Equity (Tables) | 3 Months Ended
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Oct. 31, 2023
Equity [Abstract] |
Schedule of Stock Option Activity | A summary of stock option activity for the Company is as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at July 31, 2023 |  |  | 388,409 |  |  | $ | 14.51 |  |  |  | 8.71 |  |  | $ | — |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cancelled / Forfeited |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at October 31, 2023 |  |  | 388,409 |  |  | $ | 14.51 |  |  |  | 8.45 |  |  | $ | — |
Exercisable at October 31, 2023 |  |  | 115,800 |  |  | $ | 27.76 |  |  |  | 7.73 |  |  | $ | — |
A summary of option activity for Rafael Medical Devices, LLC is as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at July 31, 2023 |  |  | 5,266 |  |  | $ | 3.82 |  |  |  | 9.76 |  |  | $ | — |
Granted |  |  | 43,878 |  |  |  | 10.00 |  |  |  | 9.75 |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Cancelled / Forfeited |  |  | (5,266 | ) |  |  | 3.82 |  |  |  | — |  |  |  | — |
Outstanding at October 31, 2023 |  |  | 43,878 |  |  | $ | 10.00 |  |  |  | 9.75 |  |  | $ | — |
Exercisable at October 31, 2023 |  |  | 11,886 |  |  | $ | 10.00 |  |  |  | 9.75 |  |  | $ | — |
Schedule of Fair Value of Units Granted | The following table summarizes assumptions used to compute the fair value of Units granted under the RMD 2023 Plan during the three months ended October 31, 2023:
Risk-free interest rate |  |  | 4.24-4.54% |
Expected term (in years) |  |  | 5-6.25 |
Expected volatility |  |  | 113% |
Expected dividend yield |  |  | —% |
Schedule of Grants of Restricted Shares of Class B Common Stock | A summary of the status of the Company’s grants of restricted shares of Class B common stock is presented below:
|  | Number of Non-vested Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at July 31, 2023 |  |  | 684,766 |  |  | $ | 4.22 |
Granted |  |  | 246,408 |  |  |  | 1.84 |
Vested |  |  | (76,001 | ) |  |  | 4.03 |
Non-vested shares at October 31, 2023 |  |  | 855,173 |  |  | $ | 3.41 |
Schedule of Stock-Based Compensation Expense | A summary of the stock-based compensation expense for the Company’s equity incentive plans is presented below (in thousands):
|  | For the Three Months Ended, October 31 |
|  | 2023 |  |  | 2022 |
General and administrative |  | $ | 508 |  |  | $ | 1,083 |
Research and development |  |  | 141 |  |  |  | 97 |
Net stock-based compensation expense |  | $ | 649 |  |  | $ | 1,180 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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