Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.7.0.1
Condensed Balance Sheets - USD ($)
Jul. 31, 2017
Oct. 31, 2016
Current Assets:    
Cash and Cash Equivalents $ 15,013,455 $ 112,750,980
Investments – Held-to-Maturity 74,391,856 39,336,548
Interest Receivable 226,798 80,142
Prepaid Expenses 1,283,010 812,830
Income Tax Receivable 2,549,862
Deferred Expenses 5,368,234 4,291,385
Other Receivable 1,500,000
Other Current Assets 99,903 53,451
Total Current Assets 97,883,256 159,875,198
Property and Equipment (net of accumulated depreciation) 7,337,337 4,389,074
Intangible Assets (net of accumulated amortization) 4,942,161 4,329,121
Deferred Expenses- net of current portion 59,487
Other Assets 499,427 450,667
TOTAL ASSETS 110,721,668 169,044,060
Current Liabilities:    
Accounts Payable 2,981,478 1,720,428
Accrued Expenses 6,162,454 10,905,003
Deferred Revenue 12,106,973 15,020,576
Lease Incentive Obligation 40,226 40,226
Common Stock Warrant Liability 20,156
Total Current Liabilities 21,291,131 27,706,389
Deferred Rent 646,025 475,749
Deferred Revenue- net of current portion 14,130,329 21,234,568
Lease Incentive Obligation – net of current portion 294,991 325,160
Total Liabilities 36,362,476 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 July 31, 2017 and October 31, 2016. Liquidation preference of $0 at July 31, 2017 and October 31, 2016.
Common Stock - $0.001 par value; 65,000,000 shares authorized, 40,996,342 shares issued and outstanding at July 31, 2017 and 40,057,067 shares issued and 40,041,047 shares outstanding at October 31, 2016. 40,996 40,057
Additional Paid-In Capital 352,199,274 327,098,749
Treasury Stock, at cost, 0 shares at July 31, 2017 and 16,020 shares at October 31, 2016. (129,787)
Accumulated Deficit (277,881,078) (207,706,825)
Total Shareholders' Equity 74,359,192 119,302,194
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 110,721,668 $ 169,044,060