Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 20,288 $ (18,261)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Gain on sale of discontinued operations, net of tax (82,631)
Change in fair value of convertible debentures 824
Depreciation and amortization of property, plant and equipment 2,682 2,566
Amortization of intangible assets 261
Share-based compensation charges 2,268 1,496
Share-based 401(k) employer match expense 880 843
Foreign exchange (gain) loss (1,674) 2,057
Realized and unrealized loss on marketable securities 1,283
Provision for inventories 1,629
Impairments of other assets 200
Changes in operating assets and liabilities:    
Accounts receivable 5,033 (1,299)
Inventories (334) (2,736)
Prepaid expenses and other assets 105 (1,174)
Accounts payable – trade 1,159 390
Accrued liabilities, other current liabilities and other liabilities 12,595 (2,016)
Total adjustments (57,264) 1,671
Net cash used in operating activities (36,976) (16,590)
Cash flows from investing activities:    
Net proceeds from sale of discontinued operations 101,740
Capital expenditures (2,760) (3,472)
Sales of marketable securities 28,695
Net cash provided by investing activities 98,980 25,223
Cash flows from financing activities:    
Net proceeds from issuance of common stock through ATM 386
Proceeds from issuance of convertible debentures and warrants 7,000
Repayments of convertible debentures (4,000)
Cost of issuance of convertible debentures and warrants (389)  
Proceeds from borrowings under revolving credit agreement 16,846
Repayments under revolving credit agreement (16,846)
Repayments under mortgage agreement and capital leases (4,136) (269)
Proceeds from exercise of stock options 14 28
Net cash used in financing activities (1,125) (241)
Effect of exchange rate changes on cash and cash equivalents (109) (63)
Increase in cash and cash equivalents and restricted cash 60,770 8,329
Cash and cash equivalents and restricted cash - beginning of year 22,603 14,274
Cash and cash equivalents and restricted cash - end of year 83,373 22,603
Composition of cash and cash equivalents and restricted cash is as follows:    
Cash and cash equivalents 82,373 21,603
Restricted cash 1,000 1,000
Total cash and cash equivalents and restricted cash $ 83,373 $ 22,603