Annual report pursuant to Section 13 and 15(d)

Balance Sheet Details

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Balance Sheet Details
12 Months Ended
Jul. 31, 2018
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Details

Note 5—Balance Sheet Details

 

Property and Equipment

 

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

 

    July 31, 2018     July 31, 2017  
Equipment and furniture   $ 1,873,880     $ 2,861,632  
Computer software     109,242       292,034  
Leasehold improvements     12,054       80,102  
Property and equipment, gross     1,995,176       3,233,768  
Accumulated depreciation and amortization     (729,514 )     (823,669 )
    $ 1,265,662     $ 2,410,099  

 

Depreciation and amortization expense recorded for the years ended July 31, 2018 and 2017 was approximately $334,000 and $380,000, respectively. In conjunction with the move to a new facility, the Company wrote down $860,000 in property and equipment.

 

Accounts Payable and Accrued Liabilities

 

Accounts payable and accrued liabilities are comprised of the following:

 

    July 31, 2018     July 31, 2017  
Research and development costs   $ 3,801,211     $ 1,537,892  
Professional services fees        770,853       1,584,899  
Other        206,828       158,342  
    $ 4,778,892     $ 3,281,133  

 

Accrued Compensation

 

Accrued compensation is comprised of the following:

 

    July 31, 2018     July 31, 2017  
Separation costs   $ 840,320     $ -  
Accrued payroll     215,937       100,295  
401K payable     14,487       14,222  
Other     -       324  
Total   $ 1,070,744     $ 114,841  

 

Other Long-Term Liabilities

 

Other long-term liabilities are comprised of the following:

 

    July 31, 2018     July 31, 2017  
Deferred rent   $ 1,101,222     $ 1,140,953  
Separation costs     371,408       -  
Total   $ 1,472,630     $ 1,140,953