XML 41 R31.htm IDEA: XBRL DOCUMENT v3.23.3
Description of Business (Tables)
 3 Months Ended
Oct. 31, 2023
Description of Business [Abstract]  
Schedule of All Majority-Owned Subsidiaries are Consolidated All majority-owned subsidiaries are consolidated with all intercompany transactions and balances eliminated in consolidation. In addition to Rafael Holdings, Inc., the subsidiaries included in these consolidated financial statements are as follows:
Company  Country of Incorporation 

Percentage

Owned

 
Broad Atlantic Associates, LLC  United States – Delaware   100%
IDT R.E. Holdings Ltd.  Israel   100%
Rafael Holdings Realty, Inc.  United States – Delaware   100%
Barer Institute, Inc.  United States – Delaware   100%*
Hillview Avenue Realty, JV  United States – Delaware   100%
Hillview Avenue Realty, LLC  United States – Delaware   100%
Rafael Medical Devices, LLC  United States – Delaware   68%*****
Levco Pharmaceuticals Ltd.  Israel   95%***
Farber Partners, LLC  United States – Delaware   93%
Pharma Holdings, LLC  United States – Delaware   90%
LipoMedix Pharmaceuticals Ltd.  Israel   95%****
Altira Capital & Consulting, LLC  United States – Delaware   67%
CS Pharma Holdings, LLC  United States – Delaware   45%**
*In November 2022, the Company resolved to curtail its early-stage development efforts, including pre-clinical research at Barer. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities.
**50% of CS Pharma Holdings, LLC is owned by Pharma Holdings, LLC. We have a 90% ownership in Pharma Holdings, LLC and, therefore, an effective 45% interest in CS Pharma Holdings, LLC. The Company, along with CS Pharma and Pharma Holdings, collectively own securities representing 51% of the outstanding capital stock of Cornerstone Pharmaceuticals and 42% of the capital stock on a fully diluted basis. Refer to Note 4 for further details.
***During Fiscal 2022, the Company discontinued further material investment in Levco. In August 2023, Levco was dissolved.
****On February 9, 2023, the Company increased its ownership interest in LipoMedix Pharmaceuticals Ltd. from 84% to 95%.
*****In August 2023, the Company raised $925,000 from third parties in exchange for 31.62% ownership of Rafael Medical Devices. As of July 31, 2023, the Company recorded $825,000 of the funds received related to the sale within prepaid expenses and other current assets and other liabilities within the consolidated balance sheets.