Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
 3 Months Ended
Oct. 31, 2020
Leases [Abstract]  
Schedule of Operating Lease Liabilities

Supplemental balance sheet information related to leases as of October 31, 2020 was as follows:

 

Operating Leases:      
Operating lease right-of-use assets   $ 6,127,348  
Operating Leases:        
Current portion included in current liabilities   $ 638,091  
Long-term portion included in non-current liabilities     5,978,318  
Total operating lease liabilities   $ 6,616,409  
Schedule of Lease Expenses

Supplemental lease expense related to leases was as follows:

 

   

For the Three Months Ended

October 31, 2020

    

For the Three Months Ended

October 31, 2019

  
Operating lease cost   $ 371,958     $ 212,367  
Total lease expense   $ 371,958     $ 212,367  
Schedule of Other Information Related to Leases

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

 

   

As of

October 31, 2020

  
Weighted-average remaining lease term     5.7 years  
         
Weighted-average discount rate     9.93 %
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, 2020

    

For the Three Months Ended

October 31, 2019

  
Cash paid for operating lease liabilities   $ 310,177     $ 333,011  
Total cash flows related to operating lease liabilities   $ 310,177     $ 333,011  
Schedule of Future Minimum Lease Payments Under Non-Cancellable Lease

Future minimum lease payments under non-cancellable leases as of October 31, 2020 were as follows:

 

Years ending July 31,      
2021   $ 893,682  
2022     1,543,000  
2023     1,585,224  
2024     1,539,142  
2025     1,516,126  
Thereafter     1,774,569  
Total minimum lease payments     8,851,743  
Less: Imputed interest     (2,235,334 )
Total   $ 6,616,409