Annual report pursuant to Section 13 and 15(d)

Balance Sheet Details

v3.19.3
Balance Sheet Details
12 Months Ended
Jul. 31, 2019
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Details

Note 5—Balance Sheet Details

 

Property and Equipment

 

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

 

    July 31, 2019     July 31, 2018  
Equipment and furniture   $ 1,859,824     $ 1,873,880  
Computer software     109,242       109,242  
Leasehold improvements     21,934       12,054  
Property and equipment, gross     1,991,000       1,995,176  
Accumulated depreciation and amortization     (959,871 )     (729,514 )
Total   $ 1,031,129     $ 1,265,662  

 

Depreciation and amortization expense recorded for the years ended July 31, 2019 and 2018 was approximately $244,000 and $334,000, respectively. In conjunction with the move to a new facility, the Company wrote off approximately $860,000 in property and equipment during the year ended July 31, 2018.

 

Accounts Payable and Accrued Liabilities

 

Accounts payable and accrued liabilities are comprised of the following:

 

    July 31, 2019     July 31, 2018  
Research and development costs   $ 2,380,215     $ 3,801,211  
Professional services fees     1,702,886       770,853  
Other     133,916       206,828  
Total   $ 4,217,017     $ 4,778,892  

 

Accrued Compensation

 

Accrued compensation is comprised of the following:

 

    July 31, 2019     July 31, 2018  
Separation costs   $ 495,004     $ 840,320  
Accrued payroll     181,219       215,937  
401K payable     -       14,487  
Total   $ 676,223     $ 1,070,744  

 

Other Long-Term Liabilities

 

Other long-term liabilities are comprised of the following:

 

    July 31, 2019     July 31, 2018  
Deferred rent   $ 635,913     $ 1,101,222  
Separation costs     -       371,408  
Total   $ 635,913     $ 1,472,630