v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Oct. 31, 2018
Oct. 31, 2017
Current assets:    
Cash and cash equivalents $ 3,055,890 $ 3,339,374
Short–term investments in certificates of deposit 2,000,000 3,500,000
Prepaid expenses and other current assets 482,482 174,566
Total current assets 5,538,372 7,013,940
Patents, net of impairment of $582,979 in 2018 and accumulated amortization of $1,615,632 and $1,290,336, respectively 837,500 1,745,775
Property and equipment, net of accumulated depreciation of $53,799 and $35,725, respectively 72,670 52,701
Total assets 6,448,542 8,812,416
Current liabilities:    
Accounts payable 582,012 480,324
Accrued expenses 683,099 409,169
Total current liabilities 1,265,111 889,493
Commitments and contingencies (Note 6 and 7)
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 and 24,000,000 shares authorized, respectively; 18,908,632 and 16,602,759 shares issued and outstanding, respectively 189,086 166,028
Additional paid-in capital 175,415,931 163,931,079
Accumulated deficit (170,170,209) (156,174,184)
Total shareholders’ equity 5,434,808 7,922,923
Noncontrolling interest (Note 2) (251,377)
Total equity 5,183,431 7,922,923
Total liabilities and equity 6,448,542 8,812,416
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

Source

v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Oct. 31, 2018
Oct. 31, 2017
Revenue $ 1,112,500 $ 362,500
Operating costs and expenses:    
Inventor royalties, contingent legal fees, litigation and licensing expenses 768,410 104,556
Amortization of patents 325,296 325,296
Research and development expenses (including non-cash share based compensation expenses of $4,596,866 and $288,187, respectively) 6,813,043 1,597,550
General and administrative expenses (including non-cash share based compensation expenses of $4,298,748 and $1,388,585, respectively) 6,911,830 4,410,682
Impairment in carrying amount of patent assets (Note 2) 582,979
Total operating costs and expenses 15,401,558 6,438,084
Loss from operations (14,289,058) (6,075,584)
Gain on extinguishment of patent acquisition obligation (Note 4) 1,547,608
Interest expense (Notes 4 and 5) (500,455)
Interest income 45,974 19,440
Loss before income taxes (14,243,084) (5,008,991)
Provision for income taxes (Note 7)
Net loss (14,243,084) (5,008,991)
Less: Net loss attributable to noncontrolling interest (247,059)
Net loss attributable to common shareholders before deemed dividend (13,996,025) (5,008,991)
Deemed dividend to preferred stockholder (Note 5) (2,008,775)
Net loss attributable to common stockholders $ (13,996,025) $ (7,017,766)
Net loss per share:    
Basic and diluted (in Dollars per share) $ (0.79) $ (0.58)
Weighted average common shares outstanding:    
Basic and diluted (in Shares) 17,624,335 12,197,340

Source

v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Oct. 31, 2018
Oct. 31, 2017
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (14,243,084) $ (5,008,991)
Stock option compensation to employees and directors 5,717,651 1,219,468
Stock options and warrants issued to consultants 318,139 3,304
Stock award compensation to employee and directors pursuant to stock incentive plan 2,859,824 454,000
Common stock issued to consultants 15,002 32,424
Amortization of patents 325,296 325,296
Accretion of interest on patent acquisition obligations to interest expense 228,026
Depreciation of property and equipment 18,435 43,216
Loss on disposal of property and equipment 45,915
Impairment in carrying amount of patent assets 582,979
Gain on extinguishment of patent acquisition obligation (1,547,608)
Issuance of noncontrolling interest in Certainty Therapeutics, Inc. expensed as a license fee 64,656
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (307,916) (12,497)
Accounts payable 101,688 107,100
Accrued expenses 273,930 313,637
Net cash used in operating activities (4,273,400) (3,796,710)
Cash flows from investing activities:    
Disbursements to acquire short-term investments in certificates of deposit (4,250,000) (5,501,000)
Proceeds from maturities of short-term investments in certificates of deposit 5,750,000 2,751,000
Proceeds from sale of property and equipment 45,000
Purchase of property and equipment (38,404) (30,188)
Net cash provided by (used in) investing activities 1,461,596 (2,735,188)
Cash flows from financing activities:    
Proceeds from sale of common stock in shareholder rights offering 4,203,302
Proceeds from sale of common stock in registered direct offering 3,211,788
Proceeds from sale of common stock in at-the-market offering 2,470,182 3,460,586
Redemption of convertible preferred stock (500,000)
Payments made on secured debenture (3,000,000)
Proceeds from exercise of stock options 58,138 7,273
Net cash provided by financing activities 2,528,320 7,382,949
Net (decrease) increase in cash and cash equivalents (283,484) 851,051
Cash and cash equivalents at beginning of year 3,339,374 2,488,323
Cash and cash equivalents at end of year 3,055,890 3,339,374
Supplemental cash flow information:    
Cash payments for interest 272,429
Supplemental disclosure of non-cash financing activities:    
Redemption of Series A convertible preferred stock into secured debenture (Note 5) 3,000,000
Common stock issued to pay patent acquisition obligation (Note 4) $ 2,852,294

Source