our actual results could differ materially from those discussed in the forward-looking statements . factors that could cause or contribute to these differences include those discussed below and elsewhere in this annual report on form 10-k , particularly in “ cautionary statement regarding forward-looking statements ” and “ item 1a . risk factors . ” overview of operations we are a pharmaceutical company currently engaged in the research and development of innovative pharmaceutical solutions , including an orally ingestible insulin capsule to be used for the treatment of individuals with diabetes , and the use of orally ingestible capsules or pills for delivery of other polypeptides . an overview of our current clinical studies can be found in “ item 1. business . ” of this annual report on form 10-k. results of operations critical accounting policies our significant accounting policies are more fully described in the notes to our accompanying consolidated financial statements . we believe that the accounting policies below are critical for one to fully understand and evaluate our financial condition and results of operations . the discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements , which we prepared in accordance with u.s. generally accepted accounting principles , or gaap . the preparation of our consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements , as well as the reported revenues and expenses during the reporting periods . on an ongoing basis , we evaluate such estimates and judgments . we base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances , the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . 23 revenue recognition : revenue is recognized when delivery has occurred , evidence of an arrangement exists , title and risks and rewards for the products are transferred to the customer and collection is reasonably assured . under accounting standards codification , or asc , 605 ( which was the authoritative revenue recognition guidance applied for all periods prior to september 1 , 2018 ) given the company 's continuing involvement through the expected product submission in june 2023 , amounts received relating to the license agreement were recognized over the period from which we were entitled to the respective payment , and the expected product submission date using a time-based model approach over the periods that the fees were earned . however , under asc 606 , we are required to recognize the total transaction price ( which includes consideration related to milestones once the criteria for recognition have been satisfied ) using the input method over the period the performance obligation is fulfilled . accordingly , once the consideration associated with a milestone is included in the transaction price , incremental revenue is recognized immediately based on the period of time that has elapsed towards complete satisfaction of the performance obligation . since the customer benefits from the services as the entity performs , revenue is recognized over time through the expected product submission date in june 2023 , using the input method . the company used the input method to measure the process for the purpose of recognizing revenue , which approximates the straight line attribution . the company used significant judgment when it determined the product submission date . under asc 606 , the consideration that the company would be entitled to upon the achievement of contractual milestones , which are contingent upon the occurrence of future events , are a form of variable consideration . when assessing the portion , if any , of such milestones-related consideration to be included in the transaction price , the company first assesses the most likely outcome for each milestone and excludes the consideration related to milestones of which the occurrence is not considered the most likely outcome . the company then evaluates if any of the variable consideration determined in the first step is constrained by including in the transaction price variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved . the company used significant judgment when it determined the first step of variable consideration . comparison of fiscal 2019 to fiscal 2018 the following table summarizes certain statements of operations data for us for the twelve month periods ended august 31 , 2019 and 2018 : replace_table_token_3_th 24 revenues revenues consist of proceeds related to the license agreement that are recognized over the period from which the company is entitled to the respective payments and through june 2023. revenues for fiscal 2019 increased by 10 % to $ 2,703,000 from $ 2,449,000 for fiscal 2018. the increase is mainly attributed to milestone payments received during fiscal 2019 in connection with the license agreement which are recognized through the expected product submission date using a cost-to-cost model approach . cost of revenues ( income ) cost of revenues consists of royalties related to the license agreement that will be paid over the term of the license agreement in accordance with revenue recognition accounting and the law for the encouragement of industrial research , development and technological innovation , 1984 , as amended , including any regulations or tracks promulgated thereunder , or ther & d law . story_separator_special_tag in any case of transfer of manufacturing out of israel , the grant recipient is required to pay royalties at an increased rate , which may be substantial , and the aggregate repayment amount is increased up to 120 % , 150 % or 300 % of the grant , depending on the portion of the total manufacturing volume that is performed outside of israel . the approval we received from the iia for the license agreement was subject to payment of increased royalties and an increased ceiling , all in accordance with the provisions of the r & d law . the r & d law further permits the iia , among other things , to approve the transfer of manufacturing rights outside of israel in exchange for the import of different manufacturing into israel as a substitute , in lieu of the increased royalties . the r & d law also provides that know-how developed under an approved research and development program may not be transferred or licensed to third parties in israel without the approval of the research committee . such approval is not required for the sale or export of any products resulting from such research or development . the r & d law further provides that the know-how developed under an approved research and development program may not be transferred or licensed to any third parties outside israel absent iia approval which may be granted in certain circumstances as follows : ( a ) the grant recipient pays to the iia a portion of the sale or license price paid in consideration for the purchase or license of such iia-funded know-how or the price paid in consideration for the sale of the grant recipient itself , as the case may be , in accordance with certain formulas included in the r & d law ; ( b ) the grant recipient receives know-how from a third party in exchange for its iia-funded know-how ; or ( c ) such transfer of iia-funded know-how is made in the context of iia approved research and development cooperation projects or consortia . the r & d law imposes reporting requirements with respect to certain changes in the ownership of a grant recipient . the r & d law requires the grant recipient to notify the iia of any change in control of the recipient or a change in the holdings of the means of control of the recipient that results in a non-israeli entity becoming an interested party in the recipient , and requires the new non-israeli interested party to undertake to the iia to comply with the r & d law . in addition , the rules of the iia may require the provision of additional information or representations in respect of certain such events . for this purpose , “ control ” is defined as the ability to direct the activities of a company other than any ability arising solely from serving as an officer or director of the company . a person is presumed to have control if such person holds 50 % or more of the means of control of a company . “ means of control ” refers to voting rights or the right to appoint directors or the chief executive officer . an “ interested party ” of a company includes a holder of 5 % or more of its outstanding share capital or voting rights , its chief executive officer and directors , someone who has the right to appoint its chief executive officer or at least one director , and a company with respect to which any of the foregoing interested parties holds 25 % or more of the outstanding share capital or voting rights or has the right to appoint 25 % or more of the directors . 26 failure to meet the r & d law 's requirements may subject us to mandatory repayment of grants received by us ( together with interest and penalties ) , as well as expose us to criminal proceedings . in addition , the israeli government may from time to time audit sales of products which it claims incorporate technology funded through iia programs which may lead to additional royalties being payable on additional products . general and administrative expenses general and administrative expenses include the salaries and related expenses of our management , consulting costs , legal and professional fees , travel expenses , business development costs , insurance expenses and other general costs . general and administrative expenses decreased by 9 % from $ 4,083,000 for fiscal 2018 to $ 3,722,000 for fiscal 2019. the decrease in costs incurred related to general and administrative activities during fiscal 2019 , is primarily attributable to a decrease in stock-based compensation costs and is partially offset by an increase in salaries and related expenses . during fiscal 2019 , as part of our general and administrative expenses , we incurred expenses of $ 591,000 related to stock-based compensation costs , as compared to $ 972,000 during fiscal 2018. the decrease is mainly attributable to the progress in amortization of awards granted in prior periods and to option forfeitures during the period . financial income , net net financial income , net was $ 576,000 for fiscal 2019 as compared to net financial income of $ 800,000 for fiscal 2018. the decrease is mainly attributable to a decrease in fair market value of some investments and to the change in accounting method which classifies such losses under profit and loss rather than other comprehensive income . taxes on income taxes on income were $ 300,000 recognized for fiscal 2019 as compared to no tax expenses in fiscal 2018. the increase is due to the withholding taxes during 2019 in connection with the receipt of a milestone payment pursuant to the license agreement , while no withholding taxes applied in fiscal 2018. comparison of fiscal 2018 to fiscal 2017 for a discussion of fiscal 2018

liquidity and capital resources from our inception through august 31 , 2019 , we have incurred losses in an aggregate amount of $ 81,103,000. during that period we have financed our operations through several private placements of our common stock , as well as public offerings of our common stock , raising a total of $ 77,790,000 , net of transaction costs . during that period we also received cash consideration of $ 5,879,000 from the exercise of warrants and options . we will seek to obtain additional financing through similar sources in the future as needed . as of august 31 , 2019 , we had $ 3,329,000 of available cash , $ 25,253,000 of short term and long term deposits and $ 4,996,000 of marketable securities . management continues to evaluate various financing alternatives for funding future research and development activities and general and administrative expenses through fundraising in the public or private equity markets . although there is no assurance that we will be successful with those initiatives , management believes that it will be able to secure the necessary financing as a result of future third party investments . based on our current cash resources and commitments , we believe we will be able to maintain our current planned development activities and the corresponding level of expenditures for at least the next 12 months . 27 as of august 31 , 2019 , our total current assets were $ 33,324,000 and our total current liabilities were $ 5,308,000. on august 31 , 2019 , we had a working capital surplus of $ 28,016,000 and an accumulated loss of $ 81,103,000. as of august 31 , 2018 , our total current assets were $ 31,037,000 and our total current liabilities were $ 4,553,000. on august 31 , 2018 , we had a working capital surplus of $ 26,484,000 and an accumulated loss of $ 69,223,000. the increase in working capital surplus from august 31 , 2018 to august 31 , 2019 was primarily due to an increase in short term deposits .


 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 from our inception through august 31 , 2019 , we have incurred losses in an aggregate amount of $ 81,103,000. during that period we have financed our operations through several private placements of our common stock , as well as public offerings of our common stock , raising a total of $ 77,790,000 , net of transaction costs . during that period we also received cash consideration of $ 5,879,000 from the exercise of warrants and options . we will seek to obtain additional financing through similar sources in the future as needed . as of august 31 , 2019 , we had $ 3,329,000 of available cash , $ 25,253,000 of short term and long term deposits and $ 4,996,000 of marketable securities . management continues to evaluate various financing alternatives for funding future research and development activities and general and administrative expenses through fundraising in the public or private equity markets . although there is no assurance that we will be successful with those initiatives , management believes that it will be able to secure the necessary financing as a result of future third party investments . based on our current cash resources and commitments , we believe we will be able to maintain our current planned development activities and the corresponding level of expenditures for at least the next 12 months . 27 as of august 31 , 2019 , our total current assets were $ 33,324,000 and our total current liabilities were $ 5,308,000. on august 31 , 2019 , we had a working capital surplus of $ 28,016,000 and an accumulated loss of $ 81,103,000. as of august 31 , 2018 , our total current assets were $ 31,037,000 and our total current liabilities were $ 4,553,000. on august 31 , 2018 , we had a working capital surplus of $ 26,484,000 and an accumulated loss of $ 69,223,000. the increase in working capital surplus from august 31 , 2018 to august 31 , 2019 was primarily due to an increase in short term deposits .
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 Suspicious Activity Report : our actual results could differ materially from those discussed in the forward-looking statements . factors that could cause or contribute to these differences include those discussed below and elsewhere in this annual report on form 10-k , particularly in “ cautionary statement regarding forward-looking statements ” and “ item 1a . risk factors . ” overview of operations we are a pharmaceutical company currently engaged in the research and development of innovative pharmaceutical solutions , including an orally ingestible insulin capsule to be used for the treatment of individuals with diabetes , and the use of orally ingestible capsules or pills for delivery of other polypeptides . an overview of our current clinical studies can be found in “ item 1. business . ” of this annual report on form 10-k. results of operations critical accounting policies our significant accounting policies are more fully described in the notes to our accompanying consolidated financial statements . we believe that the accounting policies below are critical for one to fully understand and evaluate our financial condition and results of operations . the discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements , which we prepared in accordance with u.s. generally accepted accounting principles , or gaap . the preparation of our consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements , as well as the reported revenues and expenses during the reporting periods . on an ongoing basis , we evaluate such estimates and judgments . we base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances , the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . 23 revenue recognition : revenue is recognized when delivery has occurred , evidence of an arrangement exists , title and risks and rewards for the products are transferred to the customer and collection is reasonably assured . under accounting standards codification , or asc , 605 ( which was the authoritative revenue recognition guidance applied for all periods prior to september 1 , 2018 ) given the company 's continuing involvement through the expected product submission in june 2023 , amounts received relating to the license agreement were recognized over the period from which we were entitled to the respective payment , and the expected product submission date using a time-based model approach over the periods that the fees were earned . however , under asc 606 , we are required to recognize the total transaction price ( which includes consideration related to milestones once the criteria for recognition have been satisfied ) using the input method over the period the performance obligation is fulfilled . accordingly , once the consideration associated with a milestone is included in the transaction price , incremental revenue is recognized immediately based on the period of time that has elapsed towards complete satisfaction of the performance obligation . since the customer benefits from the services as the entity performs , revenue is recognized over time through the expected product submission date in june 2023 , using the input method . the company used the input method to measure the process for the purpose of recognizing revenue , which approximates the straight line attribution . the company used significant judgment when it determined the product submission date . under asc 606 , the consideration that the company would be entitled to upon the achievement of contractual milestones , which are contingent upon the occurrence of future events , are a form of variable consideration . when assessing the portion , if any , of such milestones-related consideration to be included in the transaction price , the company first assesses the most likely outcome for each milestone and excludes the consideration related to milestones of which the occurrence is not considered the most likely outcome . the company then evaluates if any of the variable consideration determined in the first step is constrained by including in the transaction price variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved . the company used significant judgment when it determined the first step of variable consideration . comparison of fiscal 2019 to fiscal 2018 the following table summarizes certain statements of operations data for us for the twelve month periods ended august 31 , 2019 and 2018 : replace_table_token_3_th 24 revenues revenues consist of proceeds related to the license agreement that are recognized over the period from which the company is entitled to the respective payments and through june 2023. revenues for fiscal 2019 increased by 10 % to $ 2,703,000 from $ 2,449,000 for fiscal 2018. the increase is mainly attributed to milestone payments received during fiscal 2019 in connection with the license agreement which are recognized through the expected product submission date using a cost-to-cost model approach . cost of revenues ( income ) cost of revenues consists of royalties related to the license agreement that will be paid over the term of the license agreement in accordance with revenue recognition accounting and the law for the encouragement of industrial research , development and technological innovation , 1984 , as amended , including any regulations or tracks promulgated thereunder , or ther & d law . story_separator_special_tag in any case of transfer of manufacturing out of israel , the grant recipient is required to pay royalties at an increased rate , which may be substantial , and the aggregate repayment amount is increased up to 120 % , 150 % or 300 % of the grant , depending on the portion of the total manufacturing volume that is performed outside of israel . the approval we received from the iia for the license agreement was subject to payment of increased royalties and an increased ceiling , all in accordance with the provisions of the r & d law . the r & d law further permits the iia , among other things , to approve the transfer of manufacturing rights outside of israel in exchange for the import of different manufacturing into israel as a substitute , in lieu of the increased royalties . the r & d law also provides that know-how developed under an approved research and development program may not be transferred or licensed to third parties in israel without the approval of the research committee . such approval is not required for the sale or export of any products resulting from such research or development . the r & d law further provides that the know-how developed under an approved research and development program may not be transferred or licensed to any third parties outside israel absent iia approval which may be granted in certain circumstances as follows : ( a ) the grant recipient pays to the iia a portion of the sale or license price paid in consideration for the purchase or license of such iia-funded know-how or the price paid in consideration for the sale of the grant recipient itself , as the case may be , in accordance with certain formulas included in the r & d law ; ( b ) the grant recipient receives know-how from a third party in exchange for its iia-funded know-how ; or ( c ) such transfer of iia-funded know-how is made in the context of iia approved research and development cooperation projects or consortia . the r & d law imposes reporting requirements with respect to certain changes in the ownership of a grant recipient . the r & d law requires the grant recipient to notify the iia of any change in control of the recipient or a change in the holdings of the means of control of the recipient that results in a non-israeli entity becoming an interested party in the recipient , and requires the new non-israeli interested party to undertake to the iia to comply with the r & d law . in addition , the rules of the iia may require the provision of additional information or representations in respect of certain such events . for this purpose , “ control ” is defined as the ability to direct the activities of a company other than any ability arising solely from serving as an officer or director of the company . a person is presumed to have control if such person holds 50 % or more of the means of control of a company . “ means of control ” refers to voting rights or the right to appoint directors or the chief executive officer . an “ interested party ” of a company includes a holder of 5 % or more of its outstanding share capital or voting rights , its chief executive officer and directors , someone who has the right to appoint its chief executive officer or at least one director , and a company with respect to which any of the foregoing interested parties holds 25 % or more of the outstanding share capital or voting rights or has the right to appoint 25 % or more of the directors . 26 failure to meet the r & d law 's requirements may subject us to mandatory repayment of grants received by us ( together with interest and penalties ) , as well as expose us to criminal proceedings . in addition , the israeli government may from time to time audit sales of products which it claims incorporate technology funded through iia programs which may lead to additional royalties being payable on additional products . general and administrative expenses general and administrative expenses include the salaries and related expenses of our management , consulting costs , legal and professional fees , travel expenses , business development costs , insurance expenses and other general costs . general and administrative expenses decreased by 9 % from $ 4,083,000 for fiscal 2018 to $ 3,722,000 for fiscal 2019. the decrease in costs incurred related to general and administrative activities during fiscal 2019 , is primarily attributable to a decrease in stock-based compensation costs and is partially offset by an increase in salaries and related expenses . during fiscal 2019 , as part of our general and administrative expenses , we incurred expenses of $ 591,000 related to stock-based compensation costs , as compared to $ 972,000 during fiscal 2018. the decrease is mainly attributable to the progress in amortization of awards granted in prior periods and to option forfeitures during the period . financial income , net net financial income , net was $ 576,000 for fiscal 2019 as compared to net financial income of $ 800,000 for fiscal 2018. the decrease is mainly attributable to a decrease in fair market value of some investments and to the change in accounting method which classifies such losses under profit and loss rather than other comprehensive income . taxes on income taxes on income were $ 300,000 recognized for fiscal 2019 as compared to no tax expenses in fiscal 2018. the increase is due to the withholding taxes during 2019 in connection with the receipt of a milestone payment pursuant to the license agreement , while no withholding taxes applied in fiscal 2018. comparison of fiscal 2018 to fiscal 2017 for a discussion of fiscal 2018

