Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) – USD ($)
 3 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Operating activities    
Net loss $ (8,061,398)  $ (9,808,625) 
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 62,383  63,996 
Amortization of right-of-use asset 251,486  94,880 
Stock-based compensation 307,030  599,907 
Common stock issued for services   42,500 
Foreign currency exchange (gain) loss, net 781,546  (116,924) 
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 202,785  270,956 
Other long-term assets 27,784   
Accounts payable and accrued liabilities 472,903  (1,076,281) 
Accrued compensation related 91,641  166,712 
Operating lease liabilities (262,794)  (105,373) 
Net cash used in operating activities (6,126,634)  (9,868,252) 
Financing activities    
Payment of financing and offering costs (66,469)   
Principal payments on note payable (276,688)  (367,124) 
Tax withholdings paid on equity awards (2,646)  (28,119) 
Tax shares sold to pay for tax withholdings on equity awards 2,466  27,623 
Net cash used in financing activities (343,337)  (367,620) 
Effect of exchange rate changes on cash and cash equivalents (100,078)  (8,606) 
Net decrease in cash and cash equivalents (6,570,049)  (10,244,478) 
Cash and cash equivalents, at beginning of period 12,299,740  45,951,233 
Cash and cash equivalents, at end of period 5,729,691  35,706,755 
Supplemental disclosure for cash flow information:    
Interest 11,081  8,045 
Income taxes    
Noncash investing and financing transactions:    
Expiration of warrants 223,225   
Decrease in right-of-use assets and operating lease liabilities resulting from contract modification 482,946   
Amounts accrued for offering costs $ 188,028