Nugenerex Immuno-oncology (NUGX) 10-K 29 Oct 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jul. 31, 2020	Oct. 28, 2020	Jan. 31, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jul. 31, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--07-31
Entity File Number	000-56153
Entity Registrant Name	Nugenerex Immuno-oncology, Inc.
Entity Central Index Key	0001804585
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		400,300,000

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Current Assets:
Cash	$ 84	$ 389
Total assets	84	389
Current Liabilities:
Accounts payable and accrued expenses	614,349	12,528
Payable to foundation for services	1,315,817	1,315,817
Interest payable to Foundation	3,911,141	3,055,945
Total Current Liabilities	5,841,307	4,384,290
Stockholders' deficiency
Preferred Stock $0.001 par value, 10,000,000 shares authorized, 0 issued and outstanding	0	0
Common stock, $0.001 par value, 750,000,000 and 400,000,000 shares authorized; as of July 31, 2020 and 2019 respectively 400,300,000 and 400,000,000 shares issued and outstanding as of July 31, 2020 and 2019, respectively	400,300	400,000
Additional paid-in capital	32,182,174	32,050,986
Accumulated deficit	(38,423,697)	(36,834,887)
Total stockholders' deficiency	(5,841,223)	(4,383,901)
Total liabilities and stockholders' deficiency	$ 84	$ 389

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2020	Jul. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	750,000,000	400,000,000
Common stock shares issued	400,300,000	400,000,000
Common stock outstanding	400,300,000	400,000,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Operating expenses
Research and development	$ 397,319	$ 354,000
General and administrative	336,295	38,741
Total operating expenses	733,614	392,741
Operating loss	(733,614)	(392,741)
Other Expense
Interest expense	(855,196)	(715,275)
Net Loss	$ (1,588,810)	$ (1,108,016)
Net Loss per Common Share - basic and diluted	$ 0	$ 0
Weighted average outstanding shares - basic and diluted	400,013,973	400,000,000

STATEMENTS OF STOCKHOLDERS' DEF

STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Jul. 31, 2018	400,000,000
Beginning balance, value at Jul. 31, 2018	$ 400,000	$ 31,663,656	$ (35,726,871)	$ (3,663,215)
Contribution from Generex		387,330		387,330
Net Loss			(1,108,016)	(1,108,016)
Ending balance, shares at Jul. 31, 2019	400,000,000
Ending balance, value at Jul. 31, 2019	$ 400,000	32,050,986	(36,834,887)	(4,383,901)
Issuance of shares as a commitment fee inconnection with registration statement, shares	300,000
Issuance of shares as a commitment fee inconnection with registration statement, value	$ 300	(300)
Contribution from Generex		131,488		66,488
Net Loss			(1,588,810)	(1,523,810)
Ending balance, shares at Jul. 31, 2020	400,300,000
Ending balance, value at Jul. 31, 2020	$ 400,300	$ 32,182,174	$ (38,423,697)	$ (5,841,223)

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Cash flows from operating activities:
Net loss	$ (1,588,810)	$ (1,108,016)
Changes in operating assets and liabilities:
Interest payable to foundation	855,196	715,275
Accounts payable and accrued expenses	733,309	392,105
Net decrease in cash and cash equivalents	(305)	(636)
Cash, beginning of period	389	1,025
Cash, end of period	84	389
Non-cash investing and financing activities:
Expenses paid by parent as non-cash capital contributions	$ 131,488	$ 387,330

Organization of Business and Go

Organization of Business and Going Concern	12 Months Ended
	Jul. 31, 2020
Organization Of Business And Going Concern
Organization of Business and Going Concern	Note 1 – Organization of Business and Going Concern: NuGenerex Immuno-Oncology, Inc., a Delaware corporation formed in October of 1993 and formerly known as Antigen Express, Inc. (“NGIO” or the “Company”) and for all periods presented Generex Biotechnology Corporation (“Generex”) held a controlling financial interest in the Company. NGIO is an oncology company focused on the modulation of the immune system to treat cancer. To that end, the Company is developing immunotherapeutic products and vaccines based on our proprietary, patented platform technology. As part of its strategy, on February 25, 2019 Generex has elected to spun-off NuGenerex Immuno-Oncology, Inc. as a separate Company through the distribution of NGIO shares to Generex shareholders. Going Concern The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplates continuation of the Company as a going concern. The Company has experienced recurring net losses and negative cash flows from operations since inception and has accumulated deficits of approximately $38.4 million as of July 31, 2020. Additionally, the Company has a working capital deficiency of approximately $5.8 million as of July 31, 2020. The Company’s parent, Generex Biotechnology Corporation (“Generex”) has funded substantially all the Company’s underlying working capital deficiencies. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company will continue to require substantial funds to implement its business plans. Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, preferred stock offerings, and issuances of debt and convertible debt instruments. There are no assurances that such additional funding will be achieved and that the Company will succeed in its future operations. Management is also actively pursuing financial and strategic alternatives, including strategic investments and divestitures, industry collaboration activities and strategic partners. These financial statements do not include any adjustments to the recoverability and classification of recorded assets amounts and classification of liabilities that might be necessary should the Company not be able to continue as a going concern. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and the Company may have to cease operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jul. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies: Basis of Presentation The Company’s financial statements are included in the consolidated financial statements of its parent, Generex, and the Company has been dependent on Generex to fund its operations. Generex does not have costs centralized or shared services departments serving all its subsidiaries, accordingly, no allocations of centralized or shared service are necessary or included in the financial statements, as they are de-minimums. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Research and Development Costs Expenditures for research and development are expensed as incurred and include, among other costs, those related to the production of experimental drugs, including payroll costs, and amounts incurred for conducting clinical trials. Amounts expected to be received from governments under research and development tax credit arrangements are offset against current research and development expense. Income Taxes NGIO is included in the Generex consolidated federal tax return. All tax provisions and the related tax liabilities and assets have been computed using the separate return method, as if the company was the legal taxpayer. Income taxes are accounted for under the asset and liability method prescribed by FASB Accounting Standards Codification (“ASC”) Topic 740. These standards require a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely than not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. Deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities reflect the tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax asset will not be realized. Revenue The Company plans to generate revenue from licenses to access its intellectual property. For the years ending July 31, 2020 and 2019 the Company has not generated any revenue. If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues attributed to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgement to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. At the inception of each arrangement that contain development milestones, the Company evaluates whether the development milestones included are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not generally considered probable of being achieved until those approvals are received. New Accounting Standards The Company has reviewed the Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof issued by the FASB that have effective dates during the periods reported and in future periods. Management has evaluated recently issued accounting pronouncements and does not believe that they will have a significant impact on the financial statements and related disclosures. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 3 - Commitments and Contingencies: Commitments On July 7, 2020 we entered into an agreement with Ajinmoto Bio-Pharma Services (“Ajin”) under which Ajin will manufacture one cGMP batch of AE 37. We may cancel the agreement by providing Ajin written notice. If we cancel the project we will be subject to cancellation fees and be required to reimburse Ajin’s unbilled costs prior to the effective date of the cancellation. The estimated total payments required under this agreement are $243,900, including shipping and material estimates, of which Ajin has billed us $121,450 related to this agreement which is recognized as in research and development in our statement of operations for the year ended July 31, 2020. On November 20, 2018, the Company entered into a clinical trial agreement with NSABP Foundation, Inc. (“NSABP”) under which NSABP will conduct clinical research using the Company’s AE37 peptide immunotherapeutic vaccine in combination with pembrolizumab (Ketruda®) for the treatment of metastatic triple negative breast cancer. The Company has agreed to pay NSABP an amount not to exceed $2,118,461 based on NAABP achieving various milestones. The Company recognized $272,063 and $340,000 as research and development related to the clinical trial agreement with NSABP for the years ended July 31, 2020 and 2019 respectively. The Clinical Trial Agreement terminates upon the completion of the obligations under such agreement. The Clinical Trial Agreement may be terminated by (i) any party if the authorization to conduct the Phase II clinical trial is revoked by the FDA; if the human and/or toxicology results support termination; safety concerns; if the manufacture of a drug used in the Phase II clinical trial has been exhausted or (ii) by NSABP if NGIO fails to pay NSABP an undisputed amount under the Clinical Trial Agreement. Payable to Foundation On February 1, 2007, the Company entered into a clinical study agreement (the “CSA”) with a Henry J. Jackson Foundation (“Foundation”) for two Phase II clinical trials to determine if a vaccine containing AE37 plus GM-CSF or another peptide vaccine compound (GP2) plus GM-CSF improved patient outcomes. The Foundation conducted the study, under the sponsorship of an institute affiliated with the United States Military until the IND #12229 was transferred to NGIO (then Antigen Express), after which HJF continued trial management on behalf of NGIO. In consideration for the study the Company agreed to total compensation of $2,700,000 payable as follows: i. Initial payments of: a. $250,000 on February 1, 2007; and b. $250,000 on March 1, 2007 ii. Ongoing payments of $150,000 per quarter for three years beginning first quarter of 2007. iii. Final payments: $200,000 upon enrollment of the final subject and $200,000 upon completion of all subjects and receipt and acceptance of by the Company of all required documents. Upon written notice either party could terminate the agreement for insolvency or proceedings under bankruptcy law. The Company could Terminate the CSA without cause upon written notice to the Foundation. Although the Agreement has not been terminated, the Foundation has not provided the Company with a final clinical study report as required under the terms of the CSA. On September 1, 2013 the Foundation and the Company entered into a forbearance agreement (the “Forbearance Agreement”) under which the Company acknowledged they were $1,315,817 in arrears in its payment and interest obligations to the Foundation under the CSA (the “Original Forbearance Amount”). Pursuant to the Forbearance Agreement, the Company and the Foundation in exchange for the Foundations deferring the Company’s overdue payments, future payments and interest, the Company agreed, among other things to pay the Foundation certain royalties and accelerated payments (“Forbearance Payments”) as further described below. 1) The Company agreed to pay the final $200,000 payment due upon completion of all subjects and acceptance by the Company of all documents, out of and a first charge any amounts received by the foundation or the Company from a third party in respect of or relating to the continued clinical development and commercialization of the breast cancer indication of the vaccine. 2) The Companies shall pay to the Foundation royalties in the following amounts based on the Companies' actual receipt of third party royalty payments in respect of Net Sales of the Vaccine as follows: a) to the extent that such third party royalty payments to the Companies are less than ten percent (10%) of third party Net Sales of the Vaccine (the "Level One Royalty), the Forbearance Payments to the Foundation will be an amount equal to fifty percent (50%) of the Level One Royalty; b) to the extent that such third party royalty payments to the Companies are equal to or greater than ten percent (10%) of third party Net Sales of the Vaccine, the Forbearance Payments to the Foundation will be an amount equal to five percent (5%) of third party Net Sales of the Vaccine; c) If, and to the extent that, the Companies directly engage in the marketing distribution, and sale of the Vaccine, the Forbearance Payments will be an amount equal to five percent (5%) of Net Sales of the Vaccine; and d) If third party royalty payments in respect of the commercialization of the Vaccine that are calculated other than with reference to Net Sales of the Vaccine, the Companies and the Foundation will revise the calculation methodologies in paragraphs (a) and (b) above to approximate the Forbearance Payments that would have otherwise been payable. 3) The Original Forbearance Amount will continue to accrue interest at one- and one-half percent (1.5%) per month. Once the Company has repaid the Original Forbearance Amount and interest through the royalty mechanism described above the Company may buy-out its continuing obligation to make Forbearance Payments my making the following payments: i. Period 1 (Effective date of the Forbearance Agreement through fifteenth month after the effective date of the Forbearance Agreement) buyout for $200,000 ii. Period 2 (First following the end of Period 1 through the twenty-fourth month after the effective date of the Forbearance Agreement) Buyout for $500,000 iii. Period 3 (the beginning of the third year following the effective date through the end of the fifth year following the effective date of the Forbearance Agreement) Buyout for $1,000,000 iv. Period 4 (any time after the beginning of the sixth year following the effective date of the Forbearance Agreement) Buyout for $2,000,000. The Company has not made any buy-out payments under the Forbearance Agreement. The Foundation may terminate the Forbearance Agreement, in its sole discretion upon giving written notice the Company of any of the following: i. If the Company fails to make a payment under the Forbearance Agreement (including interest) and fails to cure such nonpayment within thirty days after receiving written notice of such non-payment by the Foundation or; ii. if the Company is unable to repay its debts, makes a general assignment for the benefit of its creditors, has a petition in bankruptcy or a suit seeking reorganization, liquidation, dissolution, or similar relief filed against or files or permits the filing seeking relief under bankruptcy or; iii. the Company is in default in the performance of any of its obligations under the Forbearance Agreement and such default is not cured within thirty days after receiving written notice from the Foundation of such default. The Foundation has not notified the Company that it is in default of any of its obligations under the Forbearance Agreement. Effective August 1, 2015, the Company capitalized all outstanding unpaid interest on the outstanding balance. For the years ended July 31, 2020 and 2019, the Company recorded interest expense in the amount of $855,196 and $715,275, respectively, in the statements of operations. As of July 31, 2020, and 2019 the Company has recorded accrued interest of $3,911,141 and $3,055,945, respectively. Related Party Expenses paid by Generex on behalf of the Company have been treated as capital contributions from Generex as Generex will not be reimbursed by the Company for these expenses. On behalf of the Company Generex paid expenses of $66,488 and $387,330 for the years ended July 31, 2020 and 2019, respectively. Certain shared expenses incurred by Generex, such as the shared corporate headquarters, have not been allocated to the Company as they are de minimus.

Stockholders' Deficiency

Stockholders' Deficiency	12 Months Ended
	Jul. 31, 2020
Equity [Abstract]
Stockholders' Deficiency	Note 5 - Stockholders’ Deficiency: On March 10, 2020, the Company increased the number of authorized shares from 400,000,000 to 760,000,000, which consists of 750,000,000 shares of common stock, par value $0.001 per share and 10,000,000 shares of preferred stock, par value $0.001 per share. Common Stock On February 21, 2019, the Company approved a 4,000 to 1 stock split, in which all shares outstanding have been presented retrospectively for all periods presented. The holders of Common Stock are entitled to one vote per share of Common Stock held at the time of vote. On July 14, 2020, the Company entered into a purchase agreement with an investor Oasis Capital, LLC (“Oasis”) pursuant to which Oasis has agreed to purchase from the Company up to $50,000,000 of common stock at 92% of the market price for the period of five (5) consecutive trading days immediately subject to a put notice on such date on which the purchase price is calculated in accordance with the terms and conditions of the agreement (subject to certain limitations) from time to time over a 36-month period. We also issued to Oasis 300,000 shares under the Oasis Capital Agreement as a commitment fee in connection with a registration statement. This transfer has been accounted through common stock and additional paid in capital which has no net effect on equity. Preferred Stock Our authorized preferred stock consists of 10,000,000 shares of preferred stock, $0.001 par value. As of July 31, 2020, there were no shares of preferred stock outstanding.

Income taxes

Income taxes	12 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes	Note 6 – Income Taxes: The Company has incurred losses since inception, which have generated net operating loss carryforwards. Pre-tax losses were $1,523,810 and $1,108,016 for the years ended July 31, 2020 and 2019, respectively. As of July 31, 2020, the Company has net operating loss carryforwards of approximately $37 million, available to reduce future federal and state taxable income. Under section 382 of the Internal Revenue Code of 1986, the carryforwards may be limited in future years due as a result of ownership changes. The net operating losses of approximately $2.5 million relating to the tax years after July 31, 2018. may be carried forward indefinitely, however, its use is limited to 80% of taxable income. The remaining net operating loss carryforwards prior to the tax years ending July 31, 2019 of approximately $37 million can be carried forward for 20 years with its use limited to 100% of taxable income in any given year. Carryforwards for tax years ending prior to July 31, 2018 began to expire in fiscal 2018 continuing though the current fiscal year end. Net deferred tax assets approximated the following: July 31, 2020 2019 Net operating loss carryforwards $ 10,728,000 $ 9,821,000 Valuation Allowance (10,728,000 ) (9,821,000 ) Net Deferred Tax assets $ — $ — As of July 31, 2020, and 2019, the Company had no unrecognized tax benefits or accrued interest, or penalties related to uncertain tax positions. Accordingly, the Company has not recognized any adjustment to its financial position, results of operations or cash flows. The Company does not expect that unrecognized tax benefits will increase within the next twelve months. The Company has not recognized any penalties or interest. The Company will recognize interest and penalties related to tax matters within other expense. Generally, tax years 2017 to 2019 remain open to examination by the Internal Revenue Agency or other tax jurisdictions to which the Company is subject. A reconciliation of the United States Federal Statutory rate to the Company’s effective tax rate for the years ended July 31, 2020 and 2019 is as follows: July 31, 2020 2019 Benefit at Federal rate (21.0 )% (21.0 )% State rate, net of Federal (6.3 ) (6.3 ) Expiration of NOL 7.8 11.3 Valuation allowance 19.5 16.0 Effective tax rate — % — %

Subsequent Events

Subsequent Events	12 Months Ended
	Jul. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 7 – Subsequent Events: The Company has evaluated subsequent events occurring after the balance sheet date through the date the audited annual financial statements were issued. The Company filed three Form S-1s for Registration of Securities pursuant to the Securities Act of 1933 (the Securities Act”) on September 14, 2020. One Registration Statement relates to the offer and sale of up to 1,700,000 shares of common stock NGIO, by the selling stockholders. The second Form S-1 for Registration registration statement registered 100,000 shares of Series A Cumulative Redeemable Perpetual Preferred Stock at $0.001 par value per share. The third filing, is to register shares of $0.001 par value per share common stock and shares of common stock issuable upon exercise of Common Stock Purchase Warrants. The number of shares to be registered and the offering price have not yet been determined. On October 5, 2020, the Company and its parent Generex Biotechnology Corporation, (collectively “Generex”) entered into a Distribution and Licensing Agreement (the “Agreement”) with Bintai Healthcare SDN BHD, a subsidiary of Bintai Kinden Corporation Berhad of Malaysia (“Bintai”) for the exclusive rights to distribute, sell, develop and commercialize the Generex Ii-Key-SARS-CoV-2 coronavirus vaccine (the “Vaccine”) in Malaysia and South East Asia countries, with right of first refusal to commercialize the Vaccine within New Zealand, Australia and the Global Halal markets (the “Territory”). The Agreement, among other things, consists of Bintai providing 100% funding for U.S. clinical development, manufacturing and commercial registration of the Vaccine for the Territory.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements are included in the consolidated financial statements of its parent, Generex, and the Company has been dependent on Generex to fund its operations. Generex does not have costs centralized or shared services departments serving all its subsidiaries, accordingly, no allocations of centralized or shared service are necessary or included in the financial statements, as they are de-minimums.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods.
Research and Development Costs	Research and Development Costs Expenditures for research and development are expensed as incurred and include, among other costs, those related to the production of experimental drugs, including payroll costs, and amounts incurred for conducting clinical trials. Amounts expected to be received from governments under research and development tax credit arrangements are offset against current research and development expense.
Income Taxes	Income Taxes NGIO is included in the Generex consolidated federal tax return. All tax provisions and the related tax liabilities and assets have been computed using the separate return method, as if the company was the legal taxpayer. Income taxes are accounted for under the asset and liability method prescribed by FASB Accounting Standards Codification (“ASC”) Topic 740. These standards require a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely than not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. Deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities reflect the tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax asset will not be realized.
Revenue	Revenue The Company plans to generate revenue from licenses to access its intellectual property. For the years ending July 31, 2020 and 2019 the Company has not generated any revenue. If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues attributed to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgement to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. At the inception of each arrangement that contain development milestones, the Company evaluates whether the development milestones included are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not generally considered probable of being achieved until those approvals are received.
New Accounting Standards	New Accounting Standards The Company has reviewed the Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof issued by the FASB that have effective dates during the periods reported and in future periods. Management has evaluated recently issued accounting pronouncements and does not believe that they will have a significant impact on the financial statements and related disclosures. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets	Net deferred tax assets approximated the following: July 31, 2020 2019 Net operating loss carryforwards $ 10,728,000 $ 9,821,000 Valuation Allowance (10,728,000 ) (9,821,000 ) Net Deferred Tax assets $ — $ —
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the United States Federal Statutory rate to the Company’s effective tax rate for the years ended July 31, 2020 and 2019 is as follows: July 31, 2020 2019 Benefit at Federal rate (21.0 )% (21.0 )% State rate, net of Federal (6.3 ) (6.3 ) Expiration of NOL 7.8 11.3 Valuation allowance 19.5 16.0 Effective tax rate — % — %

Organization of Business and _2

Organization of Business and Going Concern (Details Narrative) - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Organization Of Business And Going Concern
Accumulated deficits	$ (38,423,697)	$ (36,834,887)
Working capital deficiency	$ 5,800,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Sep. 01, 2013	Feb. 01, 2007	Nov. 20, 2018	Jul. 31, 2020	Jul. 31, 2019
Research and development expense				$ 397,319	$ 354,000
Interest payable to foundation				3,911,141	3,055,945
Interest expense				855,196	715,275
Related Party expenses				66,488	387,330
Forbearance Agreement
Payment and interest obligations	$ 1,315,817
Repayment of Original Forbearance Amount description	Once the Company has repaid the Original Forbearance Amount and interest through the royalty mechanism described above the Company may buy-out its continuing obligation to make Forbearance Payments my making the following payments: i. Period 1 (Effective date of the Forbearance Agreement through fifteenth month after the effective date of the Forbearance Agreement) buyout for $200,000 ii. Period 2 (First following the end of Period 1 through the twenty-fourth month after the effective date of the Forbearance Agreement) Buyout for $500,000 iii. Period 3 (the beginning of the third year following the effective date through the end of the fifth year following the effective date of the Forbearance Agreement) Buyout for $1,000,000 iv. Period 4 (any time after the beginning of the sixth year following the effective date of the Forbearance Agreement) Buyout for $2,000,000.
Ajin [Member]
Payment for shipping and material				243,900
Research and development expense				121,450
NSABP | Clinical Trial Agreement (CTO)
Service fees			$ 2,118,461
Research and development expense				$ 272,063	$ 340,000
Henry J. Jackson Foundation | Clinical Study Agreement
Service fees		$ 2,700,000
Payable to Foundation description		i. Initial payments of: a. $250,000 on February 1, 2007; and b. $250,000 on March 1, 2007 ii. Ongoing payments of $150,000 per quarter for three years beginning first quarter of 2007. iii. Final payments: $200,000 upon enrollment of the final subject and $200,000 upon completion of all subjects and receipt and acceptance of by the Company of all required documents.

Stockholders' Deficiency (Detai

Stockholders' Deficiency (Details Narrative) - $ / shares	Jul. 14, 2020	Feb. 21, 2020	Jul. 31, 2020	Jul. 31, 2019
Stock split		4,000 to 1
Common stock par value			$ 0.001	$ 0.001
Common stock shares authorized			750,000,000	400,000,000
Preferred stock shares authorized			10,000,000	10,000,000
Preferred stock par value			$ 0.001	$ 0.001
Preferred stock shares issued			0	0
Preferred stock shares outstanding			0	0
Purchase Agreement [Member] | Oasis [Member]
Common stock purchased	50,000,000
Oasis Capital Agreement [Member] | Oasis [Member]
Stock issued	300,000

Income taxes (Details - Net def

Income taxes (Details - Net deferred tax assets ) - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 10,728,000	$ 9,821,000
Valuation Allowance	(10,728,000)	(9,821,000)
Net Deferred Tax assets	$ 0	$ 0

Income taxes (Details - Federal

Income taxes (Details - Federal Statutory rate )	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Benefit at Federal rate	(21.00%)	(21.00%)
State rate, net of Federal	(6.30%)	(6.30%)
Expiration of NOL	7.80%	11.30%
Valuation allowance	19.50%	16.00%
Effective tax rate	0.00%	0.00%

Income taxes (Details Narrative

Income taxes (Details Narrative) - USD ($)	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Income Tax Disclosure [Abstract]
Net loss	$ (1,523,810)	$ (1,108,016)
Operating loss carryforwards	37,000,000		$ 25,000,000
Unrecognized tax benefits	$ 0	$ 0

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - $ / shares	Sep. 14, 2020	Jul. 31, 2020	Jul. 31, 2019
Preferred stock par value		$ 0.001	$ 0.001
Series A Cumulative Redeemable Preferred Stock [Member]
Numbers of shares issued	100,000
Preferred stock par value	$ 0.001
Subsequent Event [Member] | Stockholders [Member]
Numbers of shares issued	1,700,000