Annual report pursuant to Section 13 and 15(d)

Commitments

v3.23.3
Commitments
12 Months Ended
Jul. 31, 2023
Commitments [Abstract]  
Commitments

Note 16 - Commitments

 

Leases

 

A related party entity owned by a director and a former executive officer of the Company owns the building that the Company leases as its main facility for the discontinued operations. 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 $1,937 and $1,867 during fiscal years 2023 and 2022, respectively.