Annual report pursuant to Section 13 and 15(d)

Balance Sheet Details

v3.3.0.814
Balance Sheet Details
12 Months Ended
Jul. 31, 2015
Balance Sheet Details  
Balance Sheet Details

Note 5—Balance Sheet Details

 

Property and Equipment

 

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

 

 

 

July 31,

 

July 31,

 

 

 

2015

 

2014

 

Computers and Equipment

 

$

1,589,914

 

$

465,964

 

Computer Software

 

18,701

 

18,701

 

Leasehold Improvements

 

112,469

 

100,196

 

Construction In Progress

 

417,440

 

138,506

 

 

 

 

 

 

 

Property and Equipment, gross

 

2,138,524

 

723,367

 

Accumulated Depreciation

 

(330,542

)

(142,313

)

 

 

 

 

 

 

 

 

$

1,807,982

 

$

581,054

 

 

 

 

 

 

 

 

 

 

Depreciation expense recorded for the years ended July 31, 2015, 2014 and 2013 was approximately $200,000, $83,000 and $40,000, respectively.

 

Accounts Payable and Accrued Liabilities

 

Accounts payable and accrued liabilities are comprised of the following:

 

 

 

July 31,

 

July 31,

 

 

 

2015

 

2014

 

Research & Development Costs

 

$

1,865,087 

 

$

820,522 

 

Professional Services Fees

 

213,122 

 

244,055 

 

Office Equipment (not-capitalized)

 

69,900 

 

4,640 

 

Other

 

212,396 

 

167,135 

 

 

 

 

 

 

 

 

 

$

2,360,505 

 

$

1,236,352 

 

 

 

 

 

 

 

 

 

 

Accrued Compensation

 

Accrued compensation is comprised of the following:

 

 

 

July 31,

 

July 31,

 

 

 

2015

 

2014

 

Separation Costs

 

$

353,909 

 

$

 

Relocation Costs

 

76,884 

 

 

Stock issuance liability

 

55,500 

 

 

Payroll taxes on stock option exercise

 

 

39,723 

 

401K costs

 

14,329 

 

2,931 

 

Other

 

824 

 

 

 

 

 

 

 

 

 

 

$

501,446 

 

$

42,654