Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.20.4
Segment Information
 12 Months Ended
Oct. 31, 2020
Segment Reporting [Abstract]  
Segment Information

8. 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 years ended October 31, 2020 and 2019:

 

    Year Ended October 31,  
    2020     2019  
Net loss:                
CAR-T Therapeutics   $ (2,241,443 )   $ (5,074,868 )
Cancer Vaccines     (828,136 )     (677,450 )
Anti-Viral Therapeutics     (1,168,969 )     -  
Cancer Diagnostics     (5,836,594 )     (5,196,471 )
Patent Licensing     (17,221 )     (869,863 )
Total   $ (10,092,363 )   $ (11,818,652 )
                 
Total operating costs and expenses   $ 9,978,202     $ 12,140,005  
Less non-cash share-based compensation     (4,137,460 )     (5,713,746 )
Operating costs and expenses excluding non-cash share-based compensation   $ 5,840,742     $ 6,426,259  
                 
Operating costs and expenses excluding non-cash share based compensation:                
CAR-T Therapeutics   $ 1,141,542     $ 2,212,090  
Cancer Vaccines     365,681       458,392  
Anti-Viral Therapeutics     739,140       -  
Cancer Diagnostics     3,581,377       2,689,761  
Patent Licensing     13,002       1,066,016  
Total   $ 5,840,742     $ 6,426,259  

 

    October 31,  
    2020     2019  
Total assets:                
CAR-T Therapeutics   $ 2,988,124     $ 2,382,460  
Cancer Vaccines     946,923       489,881  
Anti-Viral Therapeutics     2,464,361       -  
Cancer Diagnostics     2,869,529       2,921,784  
Patent Licensing     184,027       499,568  
Total   $ 9,452,964     $ 6,293,693  

 

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 $250,000, inventor royalties, contingent legal fees, litigation and licensing expense of $166,250, amortization of patents of $418,750 and impairment in carrying amount of patent assets of $418,750 for the year ended October 31, 2019 were solely related to our patent licensing segment. All our revenue is generated domestically (United States) based on the country in which the licensee is located.