|3 Months Ended|
Oct. 31, 2018
|Subsequent Events [Abstract]|
Note 11—Subsequent Events
Controlled Equity Offering Sales Agreement
In November 2018, the Company entered into a Controlled Equity Offering Sales Agreement, pursuant to which the Company may, from time to time, issue and sell shares of common stock having an aggregate offering price of up to $30.0 million. The Company is not obligated to make any sales of shares under the Sales Agreement. To date, the Company has not made any sales of shares under the Sales Agreement.
On December 6, 2018, the Company received total proceeds, before expenses, of $7.0 million in cash from the offering and issued Alpha Holdings 4,666,667 shares of common stock. There were no underwriting or placement agent fees associated with the offering.
Subsequent to October 31, 2018, shares of common stock issued to executives and employees related to vested RSU’s totaled 60,437.
Subsequent to October 31, 2018, shares of common stock issued to consultants for services totaled 82,000.
Subsequent to October 31, 2018, the Company issued 250,000 stock options to a consultant as per the terms of an amendment to a consulting agreement.
Subsequent to October 31, 2018, shares of common stock issued related to option exercises totaled 23,411.
Subsequent to October 31, 2018, the Company issued 100,000 stock options to a Director.
In November 2018, the Company entered into an amended lease agreement for the addition of approximately 2,800 rentable square feet located at 24 N. Main Street, Pennington, New Jersey, which serves as the Company’s New Jersey corporate headquarters. The term of the amended lease commences on January 15, 2019 and expires on December 31, 2020. Base rent under the amended lease agreement is $11,686 per month for each of the first two months, $11,929 per month for each of the third through fifteenth months and $12,173 per month for each of the sixteenth through twenty-three months.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef