Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Operating activities    
Net loss $ (33,282,689) $ (22,773,744)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 165,918 183,435
Amortization of right-of-use asset 564,939
Amortization of discount on investments (50,419)
Stock-based compensation 2,213,176 2,988,349
Common stock issued for services 486,149 657,504
Modification of equity award 135,425
Foreign currency exchange loss, net 257,010 185,967
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,558,703 (427,217)
Other long-term assets 42,482 (8,538)
Accounts payable and accrued liabilities 4,788,547 (1,072,096)
Accrued compensation related 189,986 (9,670)
Operating lease liabilities (767,541)
Other long-term liabilities (720,237)
Net cash used in operating activities (23,783,320) (20,911,241)
Investing activities    
Purchases of property and equipment (9,882)
Maturity of investment securities 16,236,000
Sale of investment securities 5,977,794
Net cash provided by investing activities 22,203,912
Financing activities    
Proceeds from issuance of common stock through ESPP 4,744 23,390
Proceeds from issuance of common stock and/or warrants 30,000,000 17,519,930
Payment of financing and offering costs (1,903,711) (844,274)
Cash paid for stock options cancellation (25,819)
Cash paid for repurchase of warrants (178,225)
Proceeds from exercise of options 566,135
Proceeds from note payable 952,744
Principal payments on note payable (83,760) (20,218)
Tax withholdings paid on equity awards (21,070) (86,430)
Tax withholdings paid related to net share settlement of equity awards (32,505)
Tax shares sold to pay for tax withholdings on equity awards 21,416 68,739
Net cash provided by financing activities 28,766,319 17,194,767
Effect of exchange rate changes on cash and cash equivalents (52,635) (33,406)
Net increase (decrease) in cash and cash equivalents 4,930,364 18,454,032
Cash and cash equivalents, at beginning of period 25,147,780 3,803,627
Cash and cash equivalents, at end of period 30,078,144 22,257,659
Cash paid during the period for:    
Interest 1,624 987
Income taxes 2,450 1,700
Noncash investing and financing transactions:    
Expiration of warrants 2,465,396 100,161
Increase in right-of-use assets and operating lease liabilities resulting from contract modification 5,288,981
Amounts accrued for offering costs 50,967 114,406
Note issued for insurance premium $ 185,990