OncoSec Medical Inc (ONCSQ)

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In addition, on October 7, OncoSec Medical Australia Pty, Ltd., or OncoSec Australia, was created as a wholly-owned subsidiary of OncoSec Medical Incorporated, and we did this to facilitate the enrollment of our clinical trials principally in Australia where there is a high rate of melanoma cases. Although we incurred a small expense to establish the subsidiary in October, you will notice that we have begun reporting on a consolidated basis and we have added a statement of comprehensive loss to our filings, as required under Generally Accepted Accounting Principles.
We maintain our subsidiary in Australia in Australian dollars and convert to U.S. dollars for consolidation purposes, with an adjustment for foreign currency translation. We believe our clinical trials in Australia will generate very cost-effective clinical trial data for our registration study.