Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Operating activities    
Net loss $ (7,037,391) $ (4,061,116)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 65,125 211,347
Loss on disposal of fixed assets 572 2,635
Stock-based compensation 1,562,066 611,240
Changes in operating assets and liabilities:    
Decrease in prepaid expenses and other current assets 441,669 30,324
Decrease in long-term assets 26,685  
Increase (decrease) in accounts payable and accrued liabilities 549,221 (188,667)
Decrease in accrued other and taxes (265,735) (35,445)
Net cash used in operating activities (4,657,788) (3,429,682)
Investing activities    
Purchases of property and equipment (481,107) (433,415)
Net cash used in investing activities (481,107) (433,415)
Net decrease in cash and cash equivalents (5,138,895) (3,863,097)
Cash and cash equivalents, at beginning of period 32,035,264 37,852,694
Cash and cash equivalents, at end of period 26,896,369 33,989,597
Cash paid during the period for:    
Income taxes 2,172 $ 910
Noncash investing and financing transaction:    
Issuance of common stock in connection with a contractual agreement $ 55,500