v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jul. 31, 2019
Oct. 31, 2018
Current assets:    
Cash and cash equivalents $ 4,396,853 $ 3,055,890
Short-term investments in certificates of deposit 2,100,000 2,000,000
Receivables 1,072 306,991
Prepaid expenses and other current assets 129,644 175,491
Total current assets 6,627,569 5,538,372
Patents, net of impairment of $1,001,729 and $582,979, respectively, and accumulated amortization of $2,034,382 and $1,615,632, respectively 837,500
Property and equipment, net of accumulated depreciation of $86,789 and $53,799, respectively 215,137 72,670
Total assets 6,842,706 6,448,542
Current liabilities:    
Accounts payable 567,778 582,012
Accrued expenses 875,771 683,099
Total current liabilities 1,443,549 1,265,111
Commitments and contingencies (Note 9)
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; 20,162,851 and 18,908,632 shares issued and outstanding, respectively 201,628 189,086
Additional paid-in capital 185,326,706 175,415,931
Accumulated deficit (179,729,770) (170,170,209)
Total shareholders’ equity 5,798,564 5,434,808
Noncontrolling interest (Note 1) (399,407) (251,377)
Total equity 5,399,157 5,183,431
Total liabilities and equity 6,842,706 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

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v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2019
Jul. 31, 2018
Jul. 31, 2019
Jul. 31, 2018
Revenue $ 362,500 $ 250,000 $ 1,112,500
Operating costs and expenses:        
Inventor royalties, contingent legal fees, litigation and licensing expenses related to patent assertion 241,157 166,250 767,180
Amortization of patents 41,875 81,324 418,750 243,972
Research and development expenses (including non-cash share-based compensation expenses of $338,449 and $2,472,489, $2,567,294 and $2,668,315, respectively) 1,085,574 2,942,071 4,602,239 4,380,137
General and administrative expenses (including non-cash share-based compensation expenses of $492,449 and $2,155,844 $2,335,218 and $2,558,701, respectively) 1,056,963 2,703,752 4,405,385 4,602,555
Impairment in carrying amount of patent asset (Note 1) 418,750
Total operating costs and expenses 2,184,412 5,968,304 10,011,374 9,993,844
Loss from operations (2,184,412) (5,605,804) (9,761,374) (8,881,344)
Interest income 18,364 12,228 53,783 29,780
Loss before income taxes (2,166,048) (5,593,576) (9,707,591) (8,851,564)
Provision for income taxes
Net loss (2,166,048) (5,593,576) (9,707,591) (8,851,564)
Less: Net loss attributable to noncontrolling interest (26,020) (116,650) (148,030) (158,032)
Net loss attributable to common shareholders $ (2,140,028) $ (5,476,926) $ (9,559,561) $ (8,693,532)
Net loss per common share attributable to common shareholders:        
Basic and diluted (in Dollars per share) $ (0.11) $ (0.30) $ (0.49) $ (0.50)
Weighted average common shares outstanding:        
Basic and diluted (in Shares) 20,100,915 18,431,025 19,638,833 17,257,546

Source

v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Jul. 31, 2019
Jul. 31, 2018
Cash flows from operating activities:    
Net loss $ (9,707,591) $ (8,851,564)
Stock option compensation to employees and directors 2,808,910 3,598,986
Stock options and warrants issued to consultants 139,161 254,090
Restricted stock award compensation to employee pursuant to stock incentive plan 1,954,441 1,373,940
Common stock issued to consultants 15,002
Depreciation of property and equipment 32,990 12,414
Amortization of patents 418,750 243,972
Impairment in carrying amount of patent assets 418,750
Issuance of noncontrolling interest in Certainty Therapeutics, Inc. expensed as a license fee 64,656
Change in operating assets and liabilities:    
Receivables 305,919 (40,710)
Prepaid expenses and other current assets 45,847 (163,211)
Accounts payable (14,234) (60,914)
Accrued expenses 192,672 300,888
Net cash used in operating activities (3,404,385) (3,252,451)
Cash flows from investing activities:    
Disbursements to acquire short-term investments in certificates of deposit (2,350,000) (4,000,000)
Proceeds from maturities of short-term investments in certificates of deposit 2,250,000 4,750,000
Purchase of property and equipment (175,457) (31,853)
Net cash (used in) provided by investing activities (275,457) 718,147
Cash flows from financing activities:    
Net proceeds from sale of common stock in at-the-market offering 4,899,745 1,786,029
Proceeds from sale of common stock pursuant to employee stock purchase plan 18,560
Proceeds from exercise of employee stock options 102,500
Net cash provided by financing activities 5,020,805 1,786,029
Net increase (decrease) in cash and cash equivalents 1,340,963 (748,275)
Cash and cash equivalents at beginning of period 3,055,890 3,339,374
Cash and cash equivalents at end of period $ 4,396,853 $ 2,591,099

Source