XML 53 R36.htm IDEA: XBRL DOCUMENT

Description of Business (Tables)

12 Months Ended

Jul. 31, 2025

Schedule of Consolidated Financial Statements

All majority-owned subsidiaries and RP Finance, LLC are consolidated with all intercompany transactions and balances eliminated in consolidation. In addition to Rafael Holdings, Inc., the entities 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	73 %
Farber Partners, LLC	United States – Delaware	93 %
Pharma Holdings, LLC	United States – Delaware	90%**
LipoMedix Pharmaceuticals Ltd. (Note 12)	Israel	95 %
Altira Capital & Consulting, LLC	United States – Delaware	67 %
CS Pharma Holdings, LLC (Note 7)	United States – Delaware	45%**
Day Three Labs, Inc. (Note 13)	United States – Delaware	84 %
Cornerstone Pharmaceuticals, Inc. (Note 6)	United States – Delaware	67 %
RP Finance, LLC (Note 8)	United States – Delaware	38 %
Cyclo Therapeutics, LLC (Note 3)	United States – Nevada	100 %

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 interest in Pharma Holdings, LLC and, therefore, an effective 45% economic interest in CS Pharma Holdings, LLC. The Company, along with CS Pharma Holdings, LLC and Pharma Holdings LLC, collectively own securities representing 67% of the outstanding capital stock of Cornerstone.