Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Operating activities    
Net loss $ (42,253,426) $ (30,276,053)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 216,635 243,712
Amortization of right-of-use assets 773,653
Loss on disposal of property and equipment 703
Amortization of discount on investments (51,481)
Stock-based compensation 3,517,128 3,364,371
Common stock issued for services 931,350 845,994
Modification of equity award 135,425
Foreign currency exchange loss, net (103,136) 281,473
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,470,982 (1,566,415)
Other long-term assets 42,431 (9,035)
Accounts payable and accrued liabilities 3,617,923 (741,444)
Accrued compensation related (391,096) (394,521)
Operating lease liabilities (967,808)
Other long-term liabilities (836,714)
Net cash used in operating activities (33,145,364) (29,003,985)
Investing activities    
Purchases of property and equipment (9,882)
Maturity of investment securities 17,236,000
Sale of investment securities 5,977,794
Net cash provided by investing activities 23,203,912
Financing activities    
Proceeds from issuance of common stock through ESPP 7,012 27,291
Proceeds from issuance of common stock and/or warrants 30,000,000 27,897,155
Payment of financing and offering costs (1,954,678) (1,159,180)
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 (138,244) (81,577)
Tax withholdings paid on equity awards (26,859) (101,480)
Tax withholdings paid related to net share settlement of equity awards (263,100) (32,505)
Tax shares sold to pay for tax withholdings on equity awards 26,495 83,246
Repurchase of fractional shares (567)
Net cash provided by financing activities 28,399,326 27,198,518
Effect of exchange rate changes on cash (47,280) (54,292)
Net increase (decrease) in cash and cash equivalents (4,793,318) 21,344,153
Cash and cash equivalents, at beginning of year 25,147,780 3,803,627
Cash and cash equivalents, at end of year 20,354,462 25,147,780
Cash paid during the period for:    
Interest 3,179 3,253
Income taxes 2,450 1,700
Noncash investing and financing transactions:    
Expiration of warrants 2,465,396 4,060,759
Increase in right-of-use assets and operating lease liabilities resulting from contract modification 5,288,981
Amounts accrued for offering costs 200,000
Note issued for insurance premium $ 551,803 $ 185,990