Commitments |
12 Months Ended |
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Jul. 31, 2024 | |
| Commitments [Abstract] | |
| Commitments |
Note 16 - Commitments
Related Party Lease
A related party entity owned by former executive officers of the Company owns the building that the Company leases which was its main facility for the discontinued operation. The lease expires March 3, 2027. In addition to the minimum annual rentals of space, the lease is subject to annual increases, based on the consumer price index. Annual increases are limited to 3% per year. Rent expense for this lease, inclusive of real estate taxes, approximated $2,032 and $1,937 during fiscal years 2024 and 2023, respectively. The minimum payments under this related party lease as of July 31, 2024 are $2,195, $2,259 and $1,535 for fiscal years ending July 31, 2025, July 31, 2026 and July 31, 2027, respectively. |
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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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