Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Details

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Balance Sheet Details
 9 Months Ended
Apr. 30, 2018
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Details

Note 6—Balance Sheet Details

 

Property and Equipment

 

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

 

    April 30, 2018     July 31, 2017  
Equipment and Furniture   $ 1,834,236     $ 2,861,632  
Computer Software     109,242       292,034  
Leasehold Improvements     6,700       80,102  
Construction In Progress     13,646       -  
Property and Equipment, gross     1,963,824       3,233,768  
Accumulated Depreciation and Amortization     (668,155 )     (823,669 )
Total   $ 1,295,669     $ 2,410,099  

 

Depreciation and amortization expense recorded for the three- and nine-month periods ended April 30, 2018 was $0.1 million and $0.3 million, respectively. Depreciation and amortization expense recorded for the nine-month periods ended April 30, 2017 was $0.1 million and $0.3 million, respectively. In conjunction with the move to a new facility (see Note 9), the Company wrote down $0.9 million in property and equipment.

  

Accounts Payable and Accrued Liabilities

 

Accounts payable and accrued liabilities are comprised of the following:

 

    April 30, 2018     July 31, 2017  
Research & Development Costs   $ 1,856,249     $ 1,537,892  
Professional Services Fees     776,709       1,584,899  
Other     202,538       158,342  
Total   $ 2,835,496     $ 3,281,133  

 

Accrued Compensation

 

Accrued compensation is comprised of the following:

 

    April 30, 2018     July 31, 2017  
Accrued Payroll   $ 343,115     $ 100,619  
401K Payable     17,226       14,222  
Total   $ 360,341     $ 114,841  

 

Other Long-Term Liabilities

 

Other long-term liabilities are comprised of the following:

 

    April 30, 2018     July 31, 2017  
Deferred income   $ 36,671     $ -  
Deferred rent     1,123,423       1,140,953  
Total   $ 1,160,094     $ 1,140,953