General form of registration statement for all companies including face-amount certificate companies

Stock Options and Warrants (Tables)

v2.4.0.8
Stock Options and Warrants (Tables)
6 Months Ended 12 Months Ended
Nov. 30, 2013
May 31, 2013
Estimated Fair Value of Options and Warrants is determined using Black-Scholes Option Valuation Model  

The estimated fair value of options and warrants is determined using the Black-Scholes option valuation model with the following weighted-average assumptions for the periods ended May 31, 2013 and 2012:

 

     2013    2012

Risk free rate

   0.12% - 0.70%    0.12% -.87%

Dividend yield

   —      —  

Volatility

   87% - 102%    93% - 102%

Expected term

   1 - 4 years    1 - 4 years
Stock Option and Warrant Activity

The following table represents stock option and warrant activity as of and for the six months ended November 30, 2013:

 

     Number of
Shares
    Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Life in Years
     Aggregate
Intrinsic Value
 

Options and warrants outstanding – May 31, 2013

     18,146,938      $ 1.65         1.86       $ 140,321   

Granted

     17,848,540      $ 0.74         

Exercised

     (50,000   $ 1.00         

Forfeited/expired/cancelled

     (1,578,645   $ 1.40         
  

 

 

         

Options and warrants outstanding – November 30, 2013

     34,366,833      $ 1.19         3.47       $ 10,474,005   
  

 

 

         

Outstanding exercisable – November 30, 2013

     32,570,497      $ 1.19         3.46       $ 9,902,708   
  

 

 

   

The following table represents stock option and warrants activity for the periods ended May 31, 2013 and 2012:

 

     Number of
Shares
    Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Life
     Aggregate
Intrinsic Value
 

Options and warrants outstanding - May 31, 2011

     7,473,576      $ 1.34         3.84       $ 10,495,913   
  

 

 

   

 

 

    

 

 

    

 

 

 

Granted

     3,456,088      $ 2.04         —          —    

Exercised

     (527,500   $ .62         —          —    

Forfeited/expired/cancelled

     (74,500   $ 2.49         —          —    
  

 

 

   

 

 

    

 

 

    

 

 

 

Options and warrants outstanding - May 31, 2012

     10,327,664      $ 1.60         3.20       $ 2,308,279   

Granted

     11,166,274      $ 1.61         —          —    

Exercised

     (780,000   $ 0.26         —          —    

Forfeited/expired/cancelled

     (2,567,000   $ 1.73         —          —    
  

 

 

   

 

 

    

 

 

    

 

 

 

Options and warrants outstanding - May 31, 2013

     18,146,938      $ 1.65         1.86       $ 140,321   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable - May 31, 2013

     16,253,188      $ 1.68         1.65       $ 140,321