Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Details

v3.3.1.900
Balance Sheet Details
6 Months Ended
Jan. 31, 2016
Balance Sheet Details  
Balance Sheet Details

Note 7— Balance Sheet Details

 

Property and Equipment

 

Property and equipment, net, is comprised of the following:

 

 

 

January 31,

 

July 31,

 

 

 

2016

 

2015

 

Computers and Equipment

 

$

2,254,245

 

$

1,589,914

 

Office Furniture

 

476,791

 

 

Computer Software

 

18,701

 

18,701

 

Leasehold Improvements

 

64,368

 

112,469

 

Construction In Progress

 

257,165

 

417,440

 

 

 

 

 

 

 

Property and Equipment, gross

 

3,071,270

 

2,138,524

 

Accumulated Depreciation

 

(395,976

)

(330,542

)

 

 

 

 

 

 

 

 

$

2,675,294

 

$

1,807,982

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization expense recorded for the three- and six- months period ended January 31, 2016 and 2015, was approximately $86,000 and $152,000 and approximately $46,000 and $83,000, respectively.

 

Accounts Payable and Accrued Liabilities

 

Accounts payable and accrued liabilities are comprised of the following:

 

 

 

January 31,

 

July 31,

 

 

 

2016

 

2015

 

Research & Development Costs

 

$

2,552,327 

 

$

1,865,087 

 

Professional Services Fees

 

242,992 

 

213,122 

 

Office Equipment

 

253,629 

 

69,900 

 

Rent-related

 

52,837 

 

 

Other

 

303,308 

 

212,396 

 

 

 

 

 

 

 

 

 

$

3,405,093 

 

$

2,360,505 

 

 

 

 

 

 

 

 

 

 

Accrued Compensation

 

Accrued compensation is comprised of the following:

 

 

 

January 31,

 

July 31,

 

 

 

2016

 

2015

 

Separation Costs

 

$

467,697 

 

$

353,909 

 

Payroll Accrual

 

116,392 

 

 

Relocation Costs

 

 

76,884 

 

Stock Issuance Liability

 

 

55,500 

 

401K Payable

 

21,245 

 

14,329 

 

Other

 

349 

 

824 

 

 

 

 

 

 

 

 

 

$

605,683 

 

$

501,446 

 

 

 

 

 

 

 

 

 

 

Other Long-Term Liabilities

 

Other long-term liabilities is comprised of the following:

 

 

 

January 31,

 

July 31,

 

 

 

2016

 

2015

 

Deferred rent

 

$

325,053 

 

$

32,518