Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.3.1.900
Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jan. 31, 2016
Jan. 31, 2015
Operating activities    
Net loss $ (14,075,111) $ (8,679,353)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 151,601 431,650
Loss on disposal of property and equipment 41,989 2,636
Stock-based compensation 3,030,225 1,016,771
Common stock issued for services   30,000
Changes in operating assets and liabilities:    
(Increase) in prepaid expenses and other current assets 313,499 (163,758)
(Increase) decrease in other long-term assets 25,751 (186,533)
Increase in accounts payable and accrued liabilities 1,100,097 181,632
Increase in accrued compensation 104,237  
Increase in other long-term liabilities 292,534  
Net cash used in operating activities (9,015,178) (7,366,955)
Investing activities    
Purchases of property and equipment (1,060,910) (563,516)
Net cash used in investing activities (1,060,910) (563,516)
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 and stock options   776,995
Net cash provided by financing activities 6,886,095 776,995
Net (decrease) in cash (3,189,993) (7,153,476)
Cash and cash equivalents, at beginning of period 32,035,264 37,852,694
Cash and cash equivalents, at end of period 28,845,271 30,699,218
Cash paid during the period for:    
Income taxes 2,172 $ 910
Noncash investing and financing transaction:    
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