Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
6 Months Ended
Jan. 31, 2021
Leases [Abstract]  
Schedule of Operating Lease Liabilities

Supplemental balance sheet information related to leases as of January 31, 2021 was as follows:

 

Operating Leases:      
Operating lease right-of-use assets   $ 5,869,984  
Operating Leases:        
Current portion included in current liabilities   $ 784,371  
Long-term portion included in non-current liabilities     5,739,873  
Total operating lease liabilities   $ 6,524,244  

Schedule of Lease Expenses

Supplemental lease expense related to leases was as follows:

 

   

For the Three Months Ended

January 31, 2021

   

For the Six Months Ended

January 31, 2021

 
Operating lease cost   $ 371,414     $ 743,373  
Total lease expense   $ 371,414     $ 743,373  

Schedule of Other Information Related to Leases

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

 

   

As of

January 31, 2021

 
Weighted-average remaining lease term     5.5 years  
         
Weighted-average discount rate     9.94 %

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

January 31, 2021

   

For the Six Months Ended

January 31, 2021

 
Cash paid for operating lease liabilities   $ 206,215     $ 516,392  
Total cash flows related to operating lease liabilities   $ 206,215     $ 516,392  

Schedule of Future Minimum Lease Payments Under Non-Cancellable Lease

Future minimum lease payments under non-cancellable leases as of January 31, 2021 were as follows:

 

Years ending July 31,      
2021   $ 755,898  
2022     1,418,580  
2023     1,585,224  
2024     1,539,142  
2025     1,516,126  
Thereafter     1,774,569  
Total minimum lease payments     8,589,539  
Less: Imputed interest     (2,065,295 )
Total   $ 6,524,244