Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Oct. 31, 2019
Oct. 31, 2018
Operating activities    
Net loss $ (9,760,484) $ (7,575,615)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 56,071 60,871
Amortization of right-of-use asset 169,625
Amortization of discount on investments (28,295)
Stock-based compensation 574,070 1,391,656
Common stock issued for services 202,505 239,824
Modification of equity award 135,425
Foreign currency exchange loss, net 3,503 171,914
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (345,232) (526,587)
Other long-term assets (505) 3,503
Accounts payable and accrued liabilities 1,295,565 (917,095)
Accrued compensation (36,062) 416,833
Operating lease liabilities (290,268)
Other long-term liabilities (150,621)
Net cash used in operating activities (8,131,212) (6,778,187)
Investing activities    
Maturity of investment securities 7,754,000
Sale of investment securities 5,977,794
Net cash provided by investing activities 13,731,794
Financing activities    
Proceeds from issuance of common stock through ESPP 12,671
Proceeds from issuance of common stock and/or warrants 8,000,000
Payment of financing and offering costs (240,000)
Proceeds from exercise of options 539,719
Principal payments on note payable (62,300)
Tax withholdings paid on equity awards (8,065) (15,185)
Tax withholdings paid related to net share settlement of equity awards (24,340)
Tax shares sold to pay for tax withholdings on equity awards 6,964 14,649
Net cash provided by (used in) financing activities (63,401) 8,287,514
Effect of exchange rate changes on cash and cash equivalents (6,964) (28,681)
Net increase (decrease) in cash and cash equivalents (8,201,577) 15,212,440
Cash and cash equivalents, at beginning of period 25,147,780 3,803,627
Cash and cash equivalents, at end of period 16,946,203 19,016,067
Supplemental disclosure for cash flow information:    
Interest 1,322
Income taxes
Noncash investing and financing transactions:    
Expiration of warrants 100,162
Amounts accrued for offering costs $ 313,189