Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows and Condensed Statement of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statement of Cash Flows and Condensed Statement of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Apr. 30, 2017
Apr. 30, 2016
Operating activities    
Net loss $ (15,551,867) $ (20,326,520)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 284,319 253,664
Loss on disposal of property and equipment 41,989
Stock-based compensation 3,378,991 4,676,215
Changes in operating assets and liabilities:    
Decrease(Increase) in prepaid expenses and other current assets (315,976) 532,214
Decrease(Increase) in other long-term assets (163,542) 25,286
Decrease(Increase) in accounts payable and accrued liabilities (579,068) 461,617
Increase (decrease) in accrued compensation (74,690) 15,724
Increase in other long-term liabilities 309,424 573,654
Net cash used in operating activities (12,712,409) (13,746,157)
Investing activities    
Purchases of property and equipment (9,578) (1,156,420)
Net cash used in investing activities (9,578) (1,156,420)
Financing activities    
Proceeds from issuance of common stock and warrants 7,500,010
Payment of financing and offering costs (613,915)
Proceeds from exercise of warrants 30,950
Proceeds from issuance of common stock 44,057
Net cash provided by financing activities 75,007 6,886,095
Effect of exchange rate changes on cash 7,094
Net (decrease) in cash (12,639,886) (8,016,482)
Cash and cash equivalents, at beginning of period 28,746,224 32,035,264
Cash and cash equivalents, at end of period 16,106,338 24,018,782
Cash paid during the period for:    
Interest
Income taxes 1,391 2,463
Noncash investing and financing transactions:    
Fair value of placement agent warrants issued in the public offering 242,143
Issuance of common stock in connection with a contractual agreement 55,500
Noncash expiration of warrants 1,479,274 431,981
R&D Equipment in use but financed through accounts payable and accrued liabilities $ 393,718