v3.26.1
Schedule of Convertible Notes (Details) - USD ($)
Apr. 30, 2026
Jul. 31, 2025
Short-Term Debt [Line Items]    
Convertible notes payable $ 5,770,000 $ 4,800,000
Accrued interest 727,000 436,000
Total 6,497,000 5,236,000
Fiscal 2023 Notes [Member]    
Short-Term Debt [Line Items]    
Convertible notes payable [1] 1,015,000 1,015,000
Fiscal 2024 Notes [Member]    
Short-Term Debt [Line Items]    
Convertible notes payable [2] 1,785,000 1,785,000
Fiscal 2025 Notes [Member]    
Short-Term Debt [Line Items]    
Convertible notes payable [3] 2,000,000 2,000,000
Fiscal 2026 Notes [Member]    
Short-Term Debt [Line Items]    
Convertible notes payable [4] $ 970,000
[1] In fiscal 2023, the Company entered into a Note Purchase Agreement (the “2023 Note Purchase Agreement”) with certain accredited investors (“Lenders”) pursuant to which the Company issued the Lenders convertible promissory notes with an aggregate principal balance of $1,015,000 (the “2023 Private Placement”). Messrs. Tom Y. Lee and Ivan Chen, each a member of the Company’s Board invested $1,000,000 and $15,000, respectively in the 2023 Private Placement, through affiliates or directly. As of April 30, 2026, $1,015,000 of principal was outstanding under the 2023 Private Placement, which amount is currently due.
[2] In fiscal 2024, the Company entered into a Note Purchase Agreement (the “2024 Note Purchase Agreement”) with certain accredited investors (“Lenders”) pursuant to which the Company issued the Lenders convertible promissory notes with an aggregate principal balance of $1,785,000 (the “2024 Private Placement”). Tom Y. Lee invested $1,785,000 in the 2024 Private Placement, through affiliates or directly. As of April 30, 2026, $1,785,000 of principal was outstanding under the 2024 Private Placement, of which $1,285,000 is currently due.
[3] In fiscal 2025, the Company entered into a Note Purchase Agreement (the “2025 Note Purchase Agreement”) with certain accredited investors (“Lenders”) pursuant to which the Company issued the Lenders convertible promissory notes with an aggregate principal balance of $2,000,000 (the “2025 Private Placement”). Tom Y. Lee invested $2,000,000 in the 2025 Private Placement, through affiliates or directly. As of April 30, 2026, $2,000,000 of principal was outstanding under the 2025 Private Placement.
[4] During the period ended April 30, 2026, the Company entered into a Note Purchase Agreement (the “2026 Note Purchase Agreement”) with certain accredited investors (“Lenders”) pursuant to which the Company issued the Lenders convertible promissory notes (the “Notes”, collectively with the 2026 Note Purchase Agreement, the “Note Documents”) with an aggregate principal balance of $970,000 (the “2026 Private Placement”).The Note Documents provide for subsequent closings for an aggregate offering size of $2.0 million in principal balance. Tom Y. Lee, invested $970,000 in the 2026 Private Placement, through affiliates or directly. The disinterested members of the Board approved the 2026 Private Placement. As of April 30, 2026, $970,000 of principal was outstanding under the 2026 Private Placement.