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Subsequent Events
12 Months Ended
Jul. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 27 – SUBSEQUENT EVENTS

 

On August 4, 2025, Joshua Fine was elected as the Company’s Chief Operating Officer. Joshua Fine is the son of N. Scott Fine who serves as an ex-officio director of the Company and Vice Chairman of the Company’s Board of Directors.

 

In connection with Joshua Fine’s election as the Company Chief Operating Officer, he and the Company entered into a Novation and Amendment (the “Amendment”) to the Amended and Restated Executive Employment Agreement between Joshua Fine and Cyclo Therapeutics, Inc. (which amended and restated the employment agreement that was previously filed as an exhibit to Amendment No. 4 to the Company’s Registration Statement on S-4 filed with the Securities and Exchange Commission (“SEC”) on February 11, 2025) pursuant to which Mr. Fine’s base salary was increased to $428,000 per annum and Mr. Fine was granted 24,558 options to purchase shares of the Company’s Class B common stock, with the fair value of the options determined to be $25,000 as of the date of the grant.

 

On September 21, 2025, the Company entered into a Second Series Seed Preferred Share Purchase Agreement with NINA Medical Ltd. (“NINA”), pursuant to which the Company invested $500,000 in exchange for 86,983 Series Seed Preferred Shares, representing 6.3% of NINA’s outstanding shares. In connection with the investment, the Company also received a warrant to purchase an additional 173,965 Seed Preferred Shares at an exercise price per share equal to $5.75, with a term of five years from the date of issuance. Howard S. Jonas holds an indirect investment in NINA, therefore the Company’s investment in NINA is a related party transaction.