Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3.a.u2
Leases (Tables)
3 Months Ended
Oct. 31, 2019
Leases [Abstract]  
Schedule of Operating Lease Liabilities

Supplemental balance sheet information related to leases as of October 31, 2019 was as follows:

 

Operating Leases:        
Operating lease right-of-use assets   $ 1,263,272  
         
Current portion included in current liabilities   $ 1,205,825  
Long-term portion included in non-current liabilities     557,534  
Total operating lease liabilities   $ 1,763,359  

Schedule of Lease Expenses

Supplemental lease expense related to leases was as follows:

 

   

For the Three
Months Ended

October 31, 2019

 
Operating lease cost   $ 212,367  
Total lease expense   $ 212,367  

Schedule of Other Information Related to Leases

Other information related to leases where the Company is the lessee is as follows:

 

   

For the Three
Months Ended

October 31, 2019

 
Weighted-average remaining lease term     2.9 years  
         
Weighted-average discount rate     8.73 %

Schedule of Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases was as follows:

 

   

For the Three
Months Ended

October 31, 2019

 
Cash paid for operating lease liabilities   $ 333,011  
Total cash flows related to operating lease liabilities   $ 333,011  

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases as of October 31, 2019 were as follows:

 

Years ending July 31,        
2020   $ 1,079,739  
2021     369,798  
2022     119,708  
2023     120,739  
2024     124,496  
Thereafter     227,176  
Total minimum lease payments     2,041,656  
Less: Imputed interest     (278,297 )
Total   $ 1,763,359  

Schedule of Future Minimum Lease Obligations

The future minimum obligations under leases in effect as of July 31, 2019 having a noncancelable term in excess of one year as determined prior to the adoption of ASC 842 are as follows:

 

Years ending July 31,        
2020   $ 1,356,000  
2021     308,000  
Total minimum lease payments   $ 1,664,000