Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Oct. 31, 2019
Oct. 31, 2018
Current assets:    
Cash and cash equivalents $ 3,491,625 $ 3,055,890
Short–term investments in certificates of deposit 2,350,000 2,000,000
Receivables 66,527 306,991
Prepaid expenses and other current assets 184,972 175,491
Total current assets 6,093,124 5,538,372
Patents, net of impairment of $1,001,729 and $582,979, respectively, and accumulated amortization of $2,034,381 and $1,615,632, respectively 837,500
Property and equipment, net of accumulated depreciation of $95,015 and $53,799, respectively 200,569 72,670
Total assets 6,293,693 6,448,542
Current liabilities:    
Accounts payable 585,817 582,012
Accrued expenses 895,498 683,099
Total current liabilities 1,481,315 1,265,111
Commitments and contingencies (Note 5)
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding and Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding
Common stock, par value $.01 per share; 48,000,000 shares authorized; 20,331,754 and 18,908,632 shares issued and outstanding, respectively 203,317 189,086
Additional paid-in capital 186,849,299 175,415,931
Accumulated deficit (181,817,263) (170,170,209)
Total shareholders’ equity 5,235,353 5,434,808
Noncontrolling interest (Note 2) (422,975) (251,377)
Total equity 4,812,378 5,183,431
Total liabilities and equity 6,293,693 6,448,542
Series A Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding and Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding
Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding and Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding