v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jan. 31, 2018
Oct. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,846,863 $ 3,339,374
Short-term investments in certificates of deposit 2,650,000 3,500,000
Prepaid expenses and other current assets 278,496 174,566
Total current assets 5,775,359 7,013,940
Patents, net of accumulated amortization of $1,371,660 and $1,290,336, respectively 1,664,451 1,745,775
Property and equipment, net of accumulated depreciation of $39,756 and $35,725, respectively 50,828 52,701
Total assets 7,490,638 8,812,416
Current liabilities:    
Accounts payable 416,925 480,324
Accrued expenses 669,633 409,169
Total current liabilities 1,086,558 889,493
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding and Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding
Common stock, par value $.01 per share; 24,000,000 shares authorized; 16,631,191 and 16,602,759 shares issued and outstanding, respectively 166,312 166,028
Additional paid-in capital 164,281,744 163,931,079
Accumulated deficit (158,012,256) (156,174,184)
Total shareholders’ equity 6,435,800 7,922,923
Noncontrolling interest (Note 1) (31,720) 0
Total equity 6,404,080 7,922,923
Total liabilities and equity 7,490,638 8,812,416
Series A Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding and Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding
Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding and Series A convertible preferred stock, par value $100 per share; 140 shares authorized; no shares issued or outstanding

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v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended
Jan. 31, 2018
Jan. 31, 2017
Revenue
Operating costs and expenses:    
Inventor royalties, contingent legal fees and litigation and licensing expenses related to patent assertion 25,353 2,121
Amortization of patents 81,324 81,324
Research and development expenses (including non-cash stock option compensation expense of $40,057 and $79,700, respectively) 777,873 451,630
General and administrative expenses (including non-cash stock option compensation expense of $226,916 and $180,037 respectively) 990,036 859,885
Total operating costs and expenses 1,874,586 1,394,960
Loss from operations (1,874,586) (1,394,960)
Interest expense (195,299)
Interest income 9,112 999
Loss before income taxes (1,865,474) (1,589,260)
Provision for income taxes
Net loss (1,865,474) (1,589,260)
Less: Net loss attributable to noncontrolling interest (27,402)
Net loss attributable to common shareholders before deemed dividend (1,838,072) (1,589,260)
Deemed dividend to preferred shareholder (Note 6) (2,008,775)
Net loss attributable to common shareholders $ (1,838,072) $ (3,598,035)
Net loss per share attributable to common shareholders:    
Basic and diluted (in Dollars per share) $ (0.11) $ (0.41)
Weighted average common shares outstanding:    
Basic and diluted (in Shares) 16,610,770 8,755,057

Source

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Jan. 31, 2018
Jan. 31, 2017
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (1,865,474) $ (1,589,260)
Stock option compensation to employees and directors 214,427 259,737
Stock option compensation to consultants 52,546
Common stock issued to consultants 15,002 17,811
Depreciation of property and equipment 4,391 10,505
Amortization of patents 81,324 81,324
Accretion of interest on patent acquisition obligations to interest expense 141,299
Issuance of noncontrolling interest in Certainty Therapeutics, Inc. expensed as a license fee 64,656
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (103,930) 93,480
Accounts payable (63,399) 167,453
Accrued expenses 260,464 87,738
Net cash used in operating activities (1,339,993) (729,913)
Cash flows from investing activities:    
Disbursements to acquire short-term investments in certificates of deposit (1,250,000)
Proceeds from maturities of short-term investments in certificates of deposit 2,100,000 150,000
Purchase of property and equipment (2,518) (14,121)
Net cash provided by investing activities 847,482 135,879
Cash flows from financing activities:    
Redemption of convertible preferred stock (500,000)
Proceeds from exercise of employee stock options 5,665
Net cash used in by financing activities (494,335)
Net decrease in cash and cash equivalents (492,511) (1,088,369)
Cash and cash equivalents at beginning of period 3,339,374 2,488,323
Cash and cash equivalents at end of period 2,846,863 1,399,954
Supplemental disclosure of non-cash financing activities:    
Redemption of Series A convertible preferred stock into secured debenture (Note 6) $ (3,000,000)

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