cost of goods sold replace_table_token_3_th * not meaningful cost of goods sold includes direct costs related to the sale of vi 2 olet , our iodine dietary supplement , which began in january 2015 , write-downs of excess and obsolete inventories and amortization of our intangible assets . the increase in cost of goods sold of $ 237,000 for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 is primarily related to the increase in recognized revenue related to our product , inventory reserves and other manufacturing costs . research and development expenses replace_table_token_4_th research and development expenses primarily include headcount-related costs , stock-based compensation and both internal and external research and development expenses . research and development expenses are expensed as incurred . research and development expenses increased $ 3.2 million for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 primarily due to increased headcount , consulting , preclinical and clinical studies , and regulatory expenses . we increased staffing to help with the logistics , final testing and meeting regulatory standards related to vi 2 olet , as well as for progressing our bpx01 candidate from preclinical formulation to pilot production in preparation for phase 2a trials . research and development expenses associated with our molecular iodine project for the years ended january 31 , 2016 and december 31 , 2014 were $ 1.3 million and $ 0.9 million , respectively . the 69 increase was primarily due to increased consulting and regulatory expenses . we have commenced an irb study for our molecular iodine project in preparation for phase 3 trials . research and development expenses for our bpx01 product candidate for the years ended january 31 , 2016 and december 31 , 2014 were $ 4.1 million and $ 1.7 million , respectively . the increase was primarily due to increased consulting and clinical trial costs . we initiated our first phase 2a clinical trial under an ind application with the fda in the first quarter of 2017. we expect research and development expenses related to bpx01 to continue to increase period over period , primarily due to the ramping of clinical trial costs . research and development expenses increased $ 262,000 for the one month ended january 31 , 2015 compared to 2014. this increase was primarily due to an increase in headcount-related and consulting costs . sales and marketing expenses replace_table_token_5_th sales and marketing expenses primarily include headcount-related costs , stock-based compensation , costs related to establishing our corporate brand and efforts related to promoting vi 2 olet . sales and marketing expenses are expensed as incurred . sales and marketing expenses increased $ 2.8 million for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 primarily due to higher headcount , market research , advertising and stock-based compensation expenses , partially offset by lower consulting expenses . following the launch of vi 2 olet , we have been focusing on increasing customer awareness of the product through multi-media advertising campaigns and participation in tradeshows , as well as increasing awareness among medical professionals through a national physician sampling and trial progam . sales and marketing expenses increased $ 305,000 for the month ended january 31 , 2015 compared to 2014. this increase was primarily due to the ramp up in marketing and sales efforts to launch vi 2 olet , including the hiring of employees and use of outside agencies . general and administrative expenses replace_table_token_6_th general and administrative expenses primarily include headcount-related costs , stock-based compensation and costs of our executive , finance and other administrative functions . general and administrative expenses increased $ 1.2 million for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 primarily due to higher headcount , compliance costs of being a new publicly-traded company , and legal and insurance expenses , and was partially offset by lower consulting expenses . general and administrative expenses increased $ 236,000 for the month ended january 31 , 2015 compared to 2014. this increase was primarily due to the cost of the share exchange and overhead related to being a publicly-traded company . 70 other income ( expense ) , net replace_table_token_7_th * not meaningful for the year ended january 31 , 2016 , other income and expenses primarily included an expense related to the modification of warrants and other miscellaneous items . there were no other income and expenses recorded for the months ended january 31 , 2015 and 2014. story_separator_special_tag result from the resolution of any of the above uncertainties . as shown in the accompanying consolidated financial statements , we have incurred a net loss available to common stockholders of $ 16.0 million during the year ended january 31 , 2016 , and had an accumulated deficit of $ 26.2 million as of january 31 , 2016. as of january 31 , 2016 , we had working capital of approximately $ 1.6 million . while we believe we have a plan to fund ongoing operations , there is no assurance that our plan will be successfully implemented . recent accounting pronouncements in july 2015 , the financial accounting standards board ( fasb ) issued accounting standards update ( asu ) no . 2015-11 , inventory ( topic 330 ) , simplifying the measurement of inventory , which applies to all inventory except that which is measured using last-in , first-out ( lifo ) or the retail inventory method . inventory measured using first-in , first-out ( fifo ) or average cost is included in the new amendment . the amendment will take effect for public business entities for fiscal years beginning after december 15 , 2016 , including interim periods within those fiscal years . we are in process of evaluating the impact of adoption on our consolidated financial statements . story_separator_special_tag in august 2015 , fasb issued accounting standards update no . 2015-14 , revenue from contracts with customers ( asu no . 2014-09 ) . this update defers the effective dates of asu no . 2014-09 ( originally issued in june 2014 ) for public business entities by one year , or until annual reporting periods beginning after december 15 , 2017 , including interim reporting periods within the reporting period . asu no . 2014-09 gives entities a single comprehensive model to use in reporting information about the amount and timing of revenue resulting from contracts to provide goods or services to customers . the proposed asu , which would apply to any entity that enters into contracts to provide goods or services , would supersede the revenue recognition requirements in topic 605 , revenue recognition , and most industry-specific guidance throughout the industry topics of the codification . additionally , the update would supersede some cost guidance included in subtopic 605-35 , revenue recognitionconstruction-type and production-type contracts . the update removes inconsistencies and weaknesses in revenue requirements and provides a more robust framework for addressing revenue issues and more useful information to users of financial statements through improved disclosure 73 requirements . in addition , the update improves comparability of revenue recognition practices across entities , industries , jurisdictions , and capital markets and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer . we are continuing to review the provisions of this asu to determine if there will be any impact on our results of operations , cash flows or financial condition . in february 2016 , fasb issued asu no . 2016-02 , leases , which requires entities to recognize assets and liabilities for leases with lease terms greater than twelve months . the new guidance also requires quantitative and qualitative disclosures regarding the amount , timing and uncertainty of cash flows arising from leases . the standard is effective for annual and interim periods beginning after december 15 , 2018 , with early adoption permitted upon issuance . we are in process of evaluating the impact of adoption on our consolidated financial statements . in august 2014 , fasb issued asu no . 2014-15 , presentation of financial statements-going concern ( subtopic 205-40 ) . this asu provides guidance to determine when and how to disclose going-concern uncertainties in the financial statements . the new standard requires management to perform interim and annual assessments of an entity 's ability to continue as a going concern within one year of the date that the financial statements are issued . an entity must provide certain disclosures if conditions or events raise substantial doubt about the entity 's ability to continue as a going concern . this standard is effective for annual periods ending after december 15 , 2016. we are evaluating the impact of the adoption of this asu on our consolidated financial statements . we have reviewed other recent accounting pronouncements and concluded they are either not applicable to the business , or no material effect is expected on the consolidated financial statements as a result of future adoption . critical accounting policies our consolidated financial statements and related financial information are based on the application of accounting principles generally accepted in the united states , or gaap . gaap requires the use of estimates , assumptions , judgments and subjective interpretations of accounting principles that have an impact on the assets , liabilities , revenues and expense amounts reported . these estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies , risk and financial condition . we believe our use of estimates and underlying accounting assumptions adhere to gaap and are consistently applied . we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances . actual results may differ materially from these estimates under different assumptions or conditions . we continue to monitor significant estimates made during the preparation of our financial statements . our significant accounting policies are summarized in note 1 of our audited consolidated financial statements . while all these significant accounting policies impact our financial condition and results of operations , we view certain of these policies as critical . policies determined to be critical are those policies that have the most significant impact on our financial statements and require management to use a greater degree of judgment and estimates . actual results may differ from those estimates and such differences may be material to the financial statements . our management believes that given current facts and circumstances , it is unlikely that applying any other reasonable judgments or estimate methodologies would have an effect on our results of operations , financial position or liquidity for the periods presented in this report . 74 we believe the following critical accounting policies , among others , affect our more significant judgments and estimates used in the preparation of our consolidated financial statements : revenue recognition vi 2 olet is a new product in the dietary supplement field . revenue is recognized provided that persuasive evidence of a sales arrangement exists , the price is fixed or determinable , title and risk of loss has transferred , calculability of the resulting receivable is reasonably assured , there are no customer acceptance requirements and we do not have any significant post-shipment obligations . we recognize revenue on a sell-through basis for customer arrangements in which we do not have historical information to estimate product returns , pricing discounts or other concessions upon shipment . for these product shipments , we invoice the reseller , record deferred revenue at the gross invoice sales price and classify the cost basis of the product held by the wholesaler as a component of inventory . we recognize revenue when product is sold by the reseller to the end user , on a

liquidity and capital resources a summary of the sources and uses of cash and cash equivalents is as follows ( in thousands ) : replace_table_token_8_th the following table summarizes total current assets , liabilities and working capital ( in thousands ) : as of january 31 , 2016 as of january 31 , 2015 current assets $ 4,431 $ 1,705 current liabilities 2,797 1,557 ​ ​ ​ ​ ​ ​ ​ ​ working capital $ 1,634 $ 148 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ as of january 31 , 2016 , we had cash and cash equivalents of $ 4.0 million and working capital of $ 1.6 million . in june 2015 , we completed a public offering of common stock , which generated net proceeds of $ 7.8 million . we also issued an unsecured convertible note with a principal amount of $ 0.5 million , which was automatically converted into common stock upon our uplisting to the nyse mkt . in december 2015 we raised net proceeds of $ 5.5 million in a private offering of our common stock and , in april 2016 , we raised net proceeds of approximately $ 3.6 million from the issuance of common stock and warrants to purchase common stock in a public offering . during the year ended december 31 , 2014 , we raised net proceeds of $ 7.3 million upon the completion of the private placement of shares of series a preferred stock and warrants to purchase common stock . the private placement was consummated in a series of closings that occurred between april 2014 and november 2014. in addition , kip has previously informed the company of its intention to complete the kip private placement even if the company 's stock price was not at least $ 3.70 per share . as of may 2 , 2016 , the kip private placement has not closed , and we are unable to predict if or when the private placement will close .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources a summary of the sources and uses of cash and cash equivalents is as follows ( in thousands ) : replace_table_token_8_th the following table summarizes total current assets , liabilities and working capital ( in thousands ) : as of january 31 , 2016 as of january 31 , 2015 current assets $ 4,431 $ 1,705 current liabilities 2,797 1,557 ​ ​ ​ ​ ​ ​ ​ ​ working capital $ 1,634 $ 148 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ as of january 31 , 2016 , we had cash and cash equivalents of $ 4.0 million and working capital of $ 1.6 million . in june 2015 , we completed a public offering of common stock , which generated net proceeds of $ 7.8 million . we also issued an unsecured convertible note with a principal amount of $ 0.5 million , which was automatically converted into common stock upon our uplisting to the nyse mkt . in december 2015 we raised net proceeds of $ 5.5 million in a private offering of our common stock and , in april 2016 , we raised net proceeds of approximately $ 3.6 million from the issuance of common stock and warrants to purchase common stock in a public offering . during the year ended december 31 , 2014 , we raised net proceeds of $ 7.3 million upon the completion of the private placement of shares of series a preferred stock and warrants to purchase common stock . the private placement was consummated in a series of closings that occurred between april 2014 and november 2014. in addition , kip has previously informed the company of its intention to complete the kip private placement even if the company 's stock price was not at least $ 3.70 per share . as of may 2 , 2016 , the kip private placement has not closed , and we are unable to predict if or when the private placement will close .
```    
 Suspicious Activity Report : cost of goods sold replace_table_token_3_th * not meaningful cost of goods sold includes direct costs related to the sale of vi 2 olet , our iodine dietary supplement , which began in january 2015 , write-downs of excess and obsolete inventories and amortization of our intangible assets . the increase in cost of goods sold of $ 237,000 for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 is primarily related to the increase in recognized revenue related to our product , inventory reserves and other manufacturing costs . research and development expenses replace_table_token_4_th research and development expenses primarily include headcount-related costs , stock-based compensation and both internal and external research and development expenses . research and development expenses are expensed as incurred . research and development expenses increased $ 3.2 million for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 primarily due to increased headcount , consulting , preclinical and clinical studies , and regulatory expenses . we increased staffing to help with the logistics , final testing and meeting regulatory standards related to vi 2 olet , as well as for progressing our bpx01 candidate from preclinical formulation to pilot production in preparation for phase 2a trials . research and development expenses associated with our molecular iodine project for the years ended january 31 , 2016 and december 31 , 2014 were $ 1.3 million and $ 0.9 million , respectively . the 69 increase was primarily due to increased consulting and regulatory expenses . we have commenced an irb study for our molecular iodine project in preparation for phase 3 trials . research and development expenses for our bpx01 product candidate for the years ended january 31 , 2016 and december 31 , 2014 were $ 4.1 million and $ 1.7 million , respectively . the increase was primarily due to increased consulting and clinical trial costs . we initiated our first phase 2a clinical trial under an ind application with the fda in the first quarter of 2017. we expect research and development expenses related to bpx01 to continue to increase period over period , primarily due to the ramping of clinical trial costs . research and development expenses increased $ 262,000 for the one month ended january 31 , 2015 compared to 2014. this increase was primarily due to an increase in headcount-related and consulting costs . sales and marketing expenses replace_table_token_5_th sales and marketing expenses primarily include headcount-related costs , stock-based compensation , costs related to establishing our corporate brand and efforts related to promoting vi 2 olet . sales and marketing expenses are expensed as incurred . sales and marketing expenses increased $ 2.8 million for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 primarily due to higher headcount , market research , advertising and stock-based compensation expenses , partially offset by lower consulting expenses . following the launch of vi 2 olet , we have been focusing on increasing customer awareness of the product through multi-media advertising campaigns and participation in tradeshows , as well as increasing awareness among medical professionals through a national physician sampling and trial progam . sales and marketing expenses increased $ 305,000 for the month ended january 31 , 2015 compared to 2014. this increase was primarily due to the ramp up in marketing and sales efforts to launch vi 2 olet , including the hiring of employees and use of outside agencies . general and administrative expenses replace_table_token_6_th general and administrative expenses primarily include headcount-related costs , stock-based compensation and costs of our executive , finance and other administrative functions . general and administrative expenses increased $ 1.2 million for the year ended january 31 , 2016 compared to the year ended december 31 , 2014 primarily due to higher headcount , compliance costs of being a new publicly-traded company , and legal and insurance expenses , and was partially offset by lower consulting expenses . general and administrative expenses increased $ 236,000 for the month ended january 31 , 2015 compared to 2014. this increase was primarily due to the cost of the share exchange and overhead related to being a publicly-traded company . 70 other income ( expense ) , net replace_table_token_7_th * not meaningful for the year ended january 31 , 2016 , other income and expenses primarily included an expense related to the modification of warrants and other miscellaneous items . there were no other income and expenses recorded for the months ended january 31 , 2015 and 2014. story_separator_special_tag result from the resolution of any of the above uncertainties . as shown in the accompanying consolidated financial statements , we have incurred a net loss available to common stockholders of $ 16.0 million during the year ended january 31 , 2016 , and had an accumulated deficit of $ 26.2 million as of january 31 , 2016. as of january 31 , 2016 , we had working capital of approximately $ 1.6 million . while we believe we have a plan to fund ongoing operations , there is no assurance that our plan will be successfully implemented . recent accounting pronouncements in july 2015 , the financial accounting standards board ( fasb ) issued accounting standards update ( asu ) no . 2015-11 , inventory ( topic 330 ) , simplifying the measurement of inventory , which applies to all inventory except that which is measured using last-in , first-out ( lifo ) or the retail inventory method . inventory measured using first-in , first-out ( fifo ) or average cost is included in the new amendment . the amendment will take effect for public business entities for fiscal years beginning after december 15 , 2016 , including interim periods within those fiscal years . we are in process of evaluating the impact of adoption on our consolidated financial statements . story_separator_special_tag in august 2015 , fasb issued accounting standards update no . 2015-14 , revenue from contracts with customers ( asu no . 2014-09 ) . this update defers the effective dates of asu no . 2014-09 ( originally issued in june 2014 ) for public business entities by one year , or until annual reporting periods beginning after december 15 , 2017 , including interim reporting periods within the reporting period . asu no . 2014-09 gives entities a single comprehensive model to use in reporting information about the amount and timing of revenue resulting from contracts to provide goods or services to customers . the proposed asu , which would apply to any entity that enters into contracts to provide goods or services , would supersede the revenue recognition requirements in topic 605 , revenue recognition , and most industry-specific guidance throughout the industry topics of the codification . additionally , the update would supersede some cost guidance included in subtopic 605-35 , revenue recognitionconstruction-type and production-type contracts . the update removes inconsistencies and weaknesses in revenue requirements and provides a more robust framework for addressing revenue issues and more useful information to users of financial statements through improved disclosure 73 requirements . in addition , the update improves comparability of revenue recognition practices across entities , industries , jurisdictions , and capital markets and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer . we are continuing to review the provisions of this asu to determine if there will be any impact on our results of operations , cash flows or financial condition . in february 2016 , fasb issued asu no . 2016-02 , leases , which requires entities to recognize assets and liabilities for leases with lease terms greater than twelve months . the new guidance also requires quantitative and qualitative disclosures regarding the amount , timing and uncertainty of cash flows arising from leases . the standard is effective for annual and interim periods beginning after december 15 , 2018 , with early adoption permitted upon issuance . we are in process of evaluating the impact of adoption on our consolidated financial statements . in august 2014 , fasb issued asu no . 2014-15 , presentation of financial statements-going concern ( subtopic 205-40 ) . this asu provides guidance to determine when and how to disclose going-concern uncertainties in the financial statements . the new standard requires management to perform interim and annual assessments of an entity 's ability to continue as a going concern within one year of the date that the financial statements are issued . an entity must provide certain disclosures if conditions or events raise substantial doubt about the entity 's ability to continue as a going concern . this standard is effective for annual periods ending after december 15 , 2016. we are evaluating the impact of the adoption of this asu on our consolidated financial statements . we have reviewed other recent accounting pronouncements and concluded they are either not applicable to the business , or no material effect is expected on the consolidated financial statements as a result of future adoption . critical accounting policies our consolidated financial statements and related financial information are based on the application of accounting principles generally accepted in the united states , or gaap . gaap requires the use of estimates , assumptions , judgments and subjective interpretations of accounting principles that have an impact on the assets , liabilities , revenues and expense amounts reported . these estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies , risk and financial condition . we believe our use of estimates and underlying accounting assumptions adhere to gaap and are consistently applied . we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances . actual results may differ materially from these estimates under different assumptions or conditions . we continue to monitor significant estimates made during the preparation of our financial statements . our significant accounting policies are summarized in note 1 of our audited consolidated financial statements . while all these significant accounting policies impact our financial condition and results of operations , we view certain of these policies as critical . policies determined to be critical are those policies that have the most significant impact on our financial statements and require management to use a greater degree of judgment and estimates . actual results may differ from those estimates and such differences may be material to the financial statements . our management believes that given current facts and circumstances , it is unlikely that applying any other reasonable judgments or estimate methodologies would have an effect on our results of operations , financial position or liquidity for the periods presented in this report . 74 we believe the following critical accounting policies , among others , affect our more significant judgments and estimates used in the preparation of our consolidated financial statements : revenue recognition vi 2 olet is a new product in the dietary supplement field . revenue is recognized provided that persuasive evidence of a sales arrangement exists , the price is fixed or determinable , title and risk of loss has transferred , calculability of the resulting receivable is reasonably assured , there are no customer acceptance requirements and we do not have any significant post-shipment obligations . we recognize revenue on a sell-through basis for customer arrangements in which we do not have historical information to estimate product returns , pricing discounts or other concessions upon shipment . for these product shipments , we invoice the reseller , record deferred revenue at the gross invoice sales price and classify the cost basis of the product held by the wholesaler as a component of inventory . we recognize revenue when product is sold by the reseller to the end user , on a

