v3.20.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 30, 2020
Oct. 31, 2019
Current assets:    
Cash and cash equivalents $ 2,888,197 $ 3,491,625
Short-term investments in certificates of deposit 2,620,000 2,350,000
Receivables 32,338 66,527
Prepaid expenses and other current assets 116,252 184,972
Total current assets 5,656,787 6,093,124
Property and equipment, net of accumulated depreciation of $124,433 and $95,015, respectively 186,942 200,569
Operating lease right-of-use asset 81,166
Total assets 5,924,895 6,293,693
Current liabilities:    
Accounts payable 170,778 585,817
Accrued expenses 850,155 895,498
Operating lease liability 55,748
Total current liabilities 1,076,681 1,481,315
Operating lease liability, non-current 25,964
Total liabilities 1,102,645 1,481,315
Commitments and contingencies (Note 9)
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; 21,479,335 and 20,331,754 shares issued and outstanding, respectively 214,793 203,317
Additional paid-in capital 192,122,260 186,849,299
Accumulated deficit (187,049,899) (181,817,263)
Total shareholders’ equity 5,287,154 5,235,353
Noncontrolling interest (Note 1) (464,904) (422,975)
Total equity 4,822,250 4,812,378
Total liabilities and equity 5,924,895 6,293,693
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

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v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Apr. 30, 2020
Apr. 30, 2019
Income Statement [Abstract]        
Revenue $ 250,000 $ 250,000
Operating costs and expenses:        
Inventor royalties, contingent legal fees, litigation and licensing expenses related to patent assertion 166,250 166,250
Amortization of patents 125,625 376,875
Research and development expenses (including non-cash share-based compensation expenses of $458,132, $655,066, $855,655 and $2,228,845 respectively) 1,228,790 1,269,393 2,719,378 3,516,665
General and administrative expenses (including non-cash share-based compensation expenses of $651,954, $666,384, $1,275,765 and $1,842,769 respectively) 1,441,347 1,281,966 2,580,628 3,348,422
Impairment in carrying amount of patent asset (Note 1) 418,750
Total operating costs and expenses 2,670,137 2,843,234 5,300,006 7,826,962
Loss from operations (2,670,137) (2,593,234) (5,300,006) (7,576,962)
Interest income 12,147 18,300 25,441 35,419
Loss before income taxes (2,657,990) (2,574,934) (5,274,565) (7,541,543)
Provision for income taxes
Net loss (2,657,990) (2,574,934) (5,274,565) (7,541,543)
Less: Net loss attributable to noncontrolling interest (17,897) (37,242) (41,929) (122,010)
Net loss attributable to common shareholders $ (2,640,093) $ (2,537,692) $ (5,232,636) $ (7,419,533)
Net loss per common share attributable to common shareholders:        
Basic and diluted (in Dollars per share) $ (0.12) $ (0.13) $ (0.25) $ (0.38)
Weighted average common shares outstanding:        
Basic and diluted (in Shares) 21,155,505 19,645,140 20,927,212 19,403,933

Source

v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Cash flows from operating activities:    
Net loss $ (5,274,565) $ (7,541,543)
Stock option compensation to employees and directors 2,019,211 2,024,664
Stock options and warrants issued to consultants 112,209 92,509
Restricted stock award compensation to employee pursuant to stock incentive plan 1,954,441
Depreciation of property and equipment 29,418 18,108
Amortization of operating lease right-of-use asset, net of lease payments 546
Amortization of patents 376,875
Impairment in carrying amount of patent assets 418,750
Change in operating assets and liabilities:    
Receivables 34,189 (489,963)
Prepaid expenses and other current assets 68,720 51,219
Accounts payable (415,039) 135,908
Accrued expenses (45,343) 194,742
Net cash used in operating activities (3,470,654) (2,764,290)
Cash flows from investing activities:    
Disbursements to acquire short-term investments in certificates of deposit (2,620,000) (1,000,000)
Proceeds from maturities of short-term investments in certificates of deposit 2,350,000 250,000
Purchase of property and equipment (15,791) (175,457)
Net cash used in investing activities (285,791) (925,457)
Cash flows from financing activities:    
Net proceeds from sale of common stock in at-the-market offering 3,033,835 4,357,803
Proceeds from sale of common stock pursuant to employee stock purchase plan 15,452 18,560
Proceeds from exercise of stock options 103,730 79,800
Net cash provided by financing activities 3,153,017 4,456,163
Net (decrease) increase in cash and cash equivalents (603,428) 766,416
Cash and cash equivalents at beginning of period 3,491,625 3,055,890
Cash and cash equivalents at end of period 2,888,197 3,822,306
Supplemental disclosure of non-cash investing and financing activities:    
Operating lease right-of-use asset (106,221)
Operating lease liability $ 106,299

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