Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Operating activities    
Net loss $ (13,225,267) $ (9,760,484)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 50,044 56,071
Amortization of right-of-use asset 209,248 169,625
Stock-based compensation 1,894,022 574,070
Common stock issued for services 85,000 202,505
Foreign currency exchange loss, net 176,917 3,503
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (288,993) (345,232)
Other long-term assets (8) (505)
Accounts payable and accrued liabilities 1,605,700 1,295,565
Accrued compensation related (98,505) (36,062)
Operating lease liabilities (146,762) (290,268)
Net cash used in operating activities (9,738,604) (8,131,212)
Financing activities    
Proceeds from issuance of common stock 14,977,914
Payment of financing and offering costs (1,432,861)
Principal payments on note payable (164,376) (62,300)
Tax withholdings paid on equity awards (13,532) (8,065)
Tax shares sold to pay for tax withholdings on equity awards 14,113 6,964
Net cash provided by (used in) financing activities 13,381,258 (63,401)
Effect of exchange rate changes on cash and cash equivalents (21,487) (6,964)
Net increase (decrease) in cash and cash equivalents 3,621,167 (8,201,577)
Cash and cash equivalents, at beginning of period 20,354,462 25,147,780
Cash and cash equivalents, at end of period 23,975,629 16,946,203
Cash paid during the period for:    
Interest 3,741 1,322
Income taxes 1,500
Noncash investing and financing transactions:    
Increase in right-of-use assets and operating lease liabilities resulting from contract modification 388,372
Amounts accrued for offering costs $ 31,415