Company: ANIX
Filing Date: 2025-03-11
Form Type: 10-Q
Source: 0001493152-25-009854
Chunk: 6

Company: Anixa Biosciences Inc
Filing Date: 2025-03-11
Form: 10-Q
Item: Part I, Item 8
Chunk 6
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 Report on Form 10-K for the fiscal year ended October
31, 2024. The accompanying October 31, 2024 condensed consolidated balance sheet data was derived from the audited financial statements
but does not include all disclosures required by US GAAP. The condensed consolidated financial statements include all adjustments of a
normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of January
31, 2025, and results of operations and cash flows for the interim periods represented. The results of operations for the three months
ended January 31, 2025 are not necessarily indicative of the results to be expected for the year.

Noncontrolling Interest

Noncontrolling interest represents
Wistar’s equity ownership in Certainty and is presented as a component of equity. The following table sets forth the changes in
noncontrolling interest for the three months ended January 31, 2025 (in thousands):

 SCHEDULE OF CHANGES IN NONCONTROLLING INTEREST

    Balance, October 31, 2024 
    $(1,110)
  
    Net loss attributable to noncontrolling interest 
     (29)
  
    Balance, January 31, 2025 
    $(1,139)

Revenue Recognition

Our revenue
has been derived solely from technology licensing and the sale of patented technologies. Revenue is recognized upon transfer of control
of intellectual property rights and satisfaction of other contractual performance obligations to licensees in an amount that reflects
the consideration we expect to receive.

Our revenue
recognition policy requires us to make certain judgments and estimates in connection with the accounting for revenue. Such areas may include
determining the existence of a contract and identifying each party’s rights and obligations to transfer goods and services, identifying
the performance obligations in the contract, determining the transaction price and allocating the transaction price to separate performance
obligations, estimating the timing of satisfaction of performance obligations, determining whether a promise to grant a license is distinct
from other promised goods or services and evaluating whether a license transfers to a customer at a point in time or over time.

Our revenue
arrangements provide for the payment, within 30 days of execution of the agreement, of contractually determined, one-time, paid-up license
fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies
owned or controlled by the Company. These arrangements typically include some combination of the following: (i) the grant