Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 15

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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. For this reason, excluded from the
calculation of Diluted EPS for the six months ended April 30, 2025 and 2024, were stock options to purchase 13,488,062 shares and 12,422,094
shares, respectively, and warrants to purchase 300,000 shares and 300,000 shares, respectively.

7. EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS

In November 2023, the FASB issued Accounting Standards Update 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to provide more disaggregated expense information about
a public entity’s reportable segments. The amendments in this update should be applied retrospectively and are effective for fiscal
years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. We are currently evaluating the impact
of this guidance on our consolidated financial statements and related disclosures.

In December 2023, the FASB issued
Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to require disaggregated information
about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The amendments in this
update should be applied prospectively, with an option to apply them retrospectively, and are effective for fiscal years beginning after
December 15, 2024 for public entities. We are currently evaluating the impact of this guidance on our consolidated financial statements
and related disclosures.

In March 2024, the FASB issued
Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic
220-40): Disaggregation of Income Statement Expenses, to improve the disclosures about a public business entity’s expenses and to
provide more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update should
be applied either prospectively or retrospectively, and are effective for fiscal years beginning after December 15, 2026, and interim
periods beginning after December 15, 2027. We are currently evaluating the impact of this guidance on our consolidated financial statements
and related disclosures.

8. INCOME TAXES

We recognize deferred tax assets
and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under
this method,