v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 30, 2019
Oct. 31, 2018
Current assets:    
Cash and cash equivalents $ 3,822,306 $ 3,055,890
Short-term investments in certificates of deposit 2,750,000 2,000,000
Receivables 796,954 306,991
Prepaid expenses and other current assets 124,272 175,491
Total current assets 7,493,532 5,538,372
Patents, net of impairment of $1,001,729 and $582,979, respectively, and accumulated amortization of $1,992,507 and $1,615,632, respectively 41,875 837,500
Property and equipment, net of accumulated depreciation of $71,907 and $53,799, respectively 230,019 72,670
Total assets 7,765,426 6,448,542
Current liabilities:    
Accounts payable 717,920 582,012
Accrued expenses 877,841 683,099
Total current liabilities 1,595,761 1,265,111
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding, 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; 20,005,075 and 18,908,632 shares issued and outstanding, respectively 200,050 189,086
Additional paid-in capital 183,932,744 175,415,931
Accumulated deficit (177,589,742) (170,170,209)
Total shareholders’ equity 6,543,052 5,434,808
Noncontrolling interest (Note 1) (373,387) (251,377)
Total equity 6,169,665 5,183,431
Total liabilities and equity 7,765,426 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, 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, Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding

Source

v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Apr. 30, 2019
Apr. 30, 2018
Revenue $ 250,000 $ 750,000 $ 250,000 $ 750,000
Operating costs and expenses:        
Inventor royalties, contingent legal fees, litigation and licensing expenses related to patent assertion 166,250 500,670 166,250 526,023
Amortization of patents 125,625 81,324 376,875 162,648
Research and development expenses (including non-cash share-based compensation expenses of $655,066 and $155,769, $2,228,845 and $195,826, respectively) 1,269,393 660,193 3,516,665 1,438,066
General and administrative expenses (including non-cash share-based compensation expenses of $666,384 and $175,941, $1,842,769 and $402,857, respectively) 1,281,966 908,767 3,348,422 1,898,803
Impairment in carrying amount of patent asset (Note 1) 418,750
Total operating costs and expenses 2,843,234 2,150,954 7,826,962 4,025,540
Loss from operations (2,593,234) (1,400,954) (7,576,962) (3,275,540)
Interest income 18,300 8,440 35,419 17,552
Loss before income taxes (2,574,934) (1,392,514) (7,541,543) (3,257,988)
Provision for income taxes
Net loss (2,574,934) (1,392,514) (7,541,543) (3,257,988)
Less: Net loss attributable to noncontrolling interest (37,242) (13,980) (122,010) (41,382)
Net loss attributable to common shareholders $ (2,537,692) $ (1,378,534) $ (7,419,533) $ (3,216,606)
Net loss per common share attributable to common shareholders:        
Basic and diluted (in Dollars per share) $ (0.13) $ (0.08) $ (0.38) $ (0.19)
Weighted average common shares outstanding:        
Basic and diluted (in Shares) 19,645,140 16,713,091 19,403,933 16,661,083

Source

v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (7,541,543) $ (3,257,988)
Stock option compensation to employees and directors 2,024,664 472,532
Stock options and warrants issued to consultants 92,509 126,151
Restricted stock award compensation to employee pursuant to stock incentive plan 1,954,441
Common stock issued to consultants 15,002
Depreciation of property and equipment 18,108 7,369
Amortization of patents 376,875 162,648
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 (489,963) (41,889)
Prepaid expenses and other current assets 51,219 (81,726)
Accounts payable 135,908 (28,218)
Accrued expenses 194,742 478,982
Net cash used in operating activities (2,764,290) (2,082,481)
Cash flows from investing activities:    
Disbursements to acquire short-term investments in certificates of deposit (1,000,000) (1,250,000)
Proceeds from maturities of short-term investments in certificates of deposit 250,000 3,500,000
Purchase of property and equipment (175,457) (11,813)
Net cash (used in) provided by investing activities (925,457) 2,238,187
Cash flows from financing activities:    
Net proceeds from sale of common stock in at-the-market offering 4,357,803 677,370
Proceeds from sale of common stock pursuant to employee stock purchase plan 18,560
Proceeds from exercise of employee stock options 79,800
Net cash provided by financing activities 4,456,163 677,370
Net increase in cash and cash equivalents 766,416 833,076
Cash and cash equivalents at beginning of period 3,055,890 3,339,374
Cash and cash equivalents at end of period $ 3,822,306 $ 4,172,450

Source