| Quarterly Financial Data (Unaudited) |
Note 13—Quarterly Financial Data (Unaudited)
The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for fiscal 2014 and 2013 are as follows:
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Year ended July 31 2014
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1st
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2nd
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3rd
|
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4th
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|
|
|
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Quarter
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|
Quarter
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|
Quarter
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|
Quarter
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Selected quarterly financial data:
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Revenue
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$
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—
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$
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—
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|
$
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—
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|
$
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—
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Total operating exenses
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(1,988,493
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)
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(2,601,780
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)
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(3,816,030
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)
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(3,543,357
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)
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Loss from operations
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(1,988,493
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)
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(2,601,780
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)
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(3,816,030
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)
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(3,543,357
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)
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Net loss
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$
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(2,051,486
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)
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$
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(2,600,429
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)
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$
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(3,816,844
|
)
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$
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(3,543,357
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)
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Net loss applicable to common stockholders
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|
$
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(2,051,486
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)
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$
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(2,600,429
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)
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$
|
(3,816,844
|
)
|
$
|
(3,543,357
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)
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Basic and diulted net loss per share (1)
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$
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0.01
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$
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0.01
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$
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0.02
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$
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0.02
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(1) Loss per share is computed independently for each of the quarters presented.
Therefore, the sum of the quarterly net loss per share will not necessarily equal the total for the year.
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Year ended July 31 2013
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|
|
|
1st
|
|
2nd
|
|
3rd
|
|
4th
|
|
|
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
|
|
|
|
|
|
|
|
|
|
|
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Selected quarterly financial data:
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|
|
|
|
|
|
|
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Revenue
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$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|
Total operating exenses
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|
(1,997,476
|
)
|
(1,597,843
|
)
|
(1,709,178
|
)
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(1,760,475
|
)
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|
Loss from operations
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|
(1,997,476
|
)
|
(1,597,843
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)
|
(1,709,178
|
)
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(1,760,475
|
)
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Net loss
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$
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(2,026,925
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)
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$
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(1,621,988
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)
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$
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(1,728,659
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)
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$
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(1,772,615
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)
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Net loss applicable to common stockholders
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$
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(2,026,925
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)
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$
|
(1,621,988
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)
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$
|
(1,728,659
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)
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$
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(1,772,615
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)
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|
Basic and diulted net loss per share (1)
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|
$
|
0.02
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|
$
|
0.02
|
|
$
|
0.01
|
|
$
|
0.02
|
|
(1) Loss per share is computed independently for each of the quarters presented.
Therefore, the sum of the quarterly net loss per share will not necessarily equal the total for the year.
|