Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.5.0.2
Balance Sheets - USD ($)
Jul. 31, 2016
Jul. 31, 2015
Current assets    
Cash and cash equivalents $ 28,746,224 $ 32,035,264
Prepaid expenses 656,434 1,511,587
Other current assets 14,750 21,130
Total Current Assets 29,417,408 33,567,981
Property and equipment, net 2,799,930 1,807,982
Other long-term assets 189,309 214,127
Total Assets 32,406,647 35,590,090
Current liabilities    
Accounts payable and accrued liabilities 3,223,327 2,360,505
Accrued compensation related 242,924 501,446
Total Current Liabilities 3,466,251 2,861,951
Other long-term liabilities 887,292 32,518
Total Liabilities 4,353,543 2,894,469
Commitments and Contingencies (Note 9)
Stockholders' Equity    
Common stock authorized - 160,000,000 common shares with a par value of $0.0001, common stock issued and outstanding - 18,036,263 and 14,820,854 common shares as of July 31, 2016 and July 31, 2015, respectively [1] 25,269 24,947
Additional paid-in capital 88,233,965 71,572,714
Warrants issued and outstanding - 12,859,286 and 1,895,102 warrants as of July 31, 2016 and July 31, 2015, respectively [1] 13,288,527 7,704,103
Accumulated deficit (73,494,657) (46,606,143)
Total Stockholders' Equity 28,053,104 32,695,621
Total Liabilities and Stockholders' Equity $ 32,406,647 $ 35,590,090
[1] See Note 1, "Reverse Stock Split"