Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.4
Segment Information
 3 Months Ended
Jan. 31, 2021
Segment Reporting [Abstract]  
Segment Information

10. SEGMENT INFORMATION

 

We follow the accounting guidance of ASC 280 “Segment Reporting” (“ASC 280”). Reportable operating segments are determined based on the management approach. The management approach, as defined by ASC 280, is based on the way that the chief operating decision-maker organizes the segments within an enterprise for making operating decisions and assessing performance. While our results of operations are primarily reviewed on a consolidated basis, the chief operating decision-maker manages the enterprise in five reportable segments, each with different operating and potential revenue generating characteristics: (i) CAR-T Therapeutics, (ii) Cancer Vaccines, (iii) Anti-Viral Therapeutics, (iv) Cancer Diagnostics and (v) our legacy Patent Licensing activities. The following represents selected financial information for our segments for the three months ended January 31, 2021 and 2020 and as of January 31, 2021 and October 31, 2020:

 

    For the Three Months Ended
January 31,		  
    2021     2020  
Net loss:                
CAR-T Therapeutics   $ (960,736 )   $ (630,333 )
Cancer Vaccines     (906,336 )     (195,596 )
Anti-Viral Therapeutics     (480,806 )     -  
Cancer Diagnostics     (8,962 )     (1,790,646 )
Patent Licensing     124,463       -  
Total   $ (2,232,377 )   $ (2,616,575 )
                 
Total operating costs and expenses   $ 2,745,631     $ 2,629,869  
Less non-cash share-based compensation     (986,099 )     (1,021,334 )
Operating costs and expenses excluding non-cash share-based compensation   $ 1,759,532     $ 1,608,535  
                 
Operating costs and expenses excluding non-cash share based compensation expense:                
CAR-T Therapeutics   $ 557,680     $ 346,341  
Cancer Vaccines     537,988       98,270  
Anti-Viral Therapeutics     270,256       -  
Cancer Diagnostics     6,432       1,163,924  
Patent Licensing     387,176       -  
Total   $ 1,759,532     $ 1,608,535  

 

    January 31,
2021		     October 31,
2020		  
Total assets:                
CAR-T Therapeutics   $ 5,849,920     $ 2,988,124  
Cancer Vaccines     5,822,106       946,923  
Anti-Viral Therapeutics     2,775,760       2,464,361  
Cancer Diagnostics     85,463       2,869,529  
Patent Licensing     71,153       184,027  
Total   $ 14,604,402     $ 9,452,964  

 

Operating costs and expenses excluding non-cash share-based compensation is the measurement the chief operating decision-maker uses in managing the enterprise.

 

The Company’s consolidated revenue of $512,500 and inventor royalties, contingent legal fees, litigation and licensing expense of $385,002 for the three months ended January 31, 2021 were solely related to our patent licensing segment which consists of our encrypted audio/video conference calling technology. All our revenue is generated domestically (United States) based on the country in which the licensee is located.