Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.7.0.1
Condensed Balance Sheets - USD ($)
Jan. 31, 2017
Oct. 31, 2016
Current Assets:    
Cash and Cash Equivalents $ 57,566,606 $ 112,750,980
Investments - Held-to-Maturity 79,295,379 39,336,548
Interest Receivable 180,964 80,142
Prepaid Expenses 577,770 812,830
Income Tax Receivable 2,549,862
Deferred Expenses - current 4,435,025 4,291,385
Other Current Assets 132,797 53,451
Total Current Assets 142,188,541 159,875,198
Property and Equipment (net of accumulated depreciation) 5,242,857 4,389,074
Intangible Assets (net of accumulated amortization) 4,336,143 4,329,121
Other Assets 426,287 450,667
TOTAL ASSETS 152,193,828 169,044,060
Current Liabilities:    
Accounts Payable 3,534,440 1,720,428
Accrued Expenses 7,676,443 10,905,003
Deferred Revenue 14,047,906 15,020,576
Lease Incentive Obligation 40,226 40,226
Common Stock Warrant Liability 10,652 20,156
Total Current Liabilities 25,309,667 27,706,389
Deferred Rent 534,160 475,749
Deferred Revenue 18,666,396 21,234,568
Lease Incentive Obligation- net of current portion 315,104 325,160
Total Liabilities 44,825,327 49,741,866
Commitments and Contingencies
Shareholders' Equity:    
Preferred Stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at January 31, 2017 and October 31, 2016. Liquidation preference of $0 at January 31, 2017 and October 31, 2016.
Common Stock - $0.001 par value; 65,000,000 shares authorized, 40,186,693 shares issued and outstanding at January 31, 2017 and 40,057,067 shares issued and 40,041,047 shares outstanding at October 31, 2016. 40,187 40,057
Additional Paid-In Capital 332,116,142 327,098,749
Treasury Stock, at cost, 0 shares at January 31, 2017 and 16,020 shares October 31, 2016 (129,787)
Accumulated Deficit (224,787,828) (207,706,825)
Total Shareholders' Equity 107,368,501 119,302,194
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 152,193,828 $ 169,044,060