v3.24.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2024
May 31, 2024
Current assets:    
Cash and cash equivalents $ 21,335 $ 3,110
Restricted cash 0 6,704
Prepaid expenses 635 463
Prepaid service fees 663 538
Other receivables (Note 9) 2,000  
Total current assets 24,633 10,815
Other non-current assets 244 321
Total assets 24,877 11,136
Current liabilities:    
Accounts payable 14,244 29,561
Accrued liabilities and compensation 2,767 2,810
Accrued interest on convertible notes 17,553 15,227
Accrued dividends on convertible preferred stock 7,532 6,791
Convertible notes payable, net 28,531 29,793
Total current liabilities 70,627 84,182
Long-term liabilities:    
Operating leases 69 141
Other liabilities (Note 9) 43,571 43,571
Total liabilities 114,267 127,894
Commitments and Contingencies (Note 9)
Stockholders' deficit:    
Common stock, $0.001 par value; 1,750,000 shares authorized; 1,223,517 and 1,059,002 issued, and 1,223,075 and 1,058,559 outstanding at November 30, 2024 and May 31, 2024, respectively 1,224 1,059
Treasury stock, $0.001 par value; 443 shares at November 30, 2024 and May 31, 2024
Additional paid-in capital 786,458 773,714
Accumulated deficit (877,072) (891,531)
Total stockholders' deficit (89,390) (116,758)
Total liabilities and stockholders' deficit 24,877 11,136
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 3,453 3,135
Stockholders' deficit:    
Preferred stock
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 4,079 3,656
Stockholders' deficit:    
Preferred stock

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