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

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

Stock Options and Warrants (Tables)

Stock Options and Warrants (Tables)

9 Months Ended

12 Months Ended

Feb. 28, 2015

May 31, 2014

Stock Option and Warrant Activity

The following table presents stock option and warrant activity as of and for the nine months ended February 28, 2015:


	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Options and warrants outstanding—May 31, 2014		30,806,361		$	1.13		3.29	$	177,042
Granted		1,208,973			0.67		—		—
Exercised		(1,938,974	)		0.55		—		—
Forfeited/expired/cancelled		(7,020,410	)		1.76		—		—

Options and warrants outstanding—February 28, 2015		23,055,950			0.86		3.73		2,151,361

Outstanding exercisable—February 28, 2015		21,476,679		$	0.86		3.72	$	2,027,111

The following table represents stock option and warrant activity for the periods ended May 31, 2014 and 2013:


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

Granted		18,414,144			0.74		—		—
Exercised		(50,000	)		—		—		—
Forfeited/expired/cancelled		(5,704,721	)		1.49		—		—
Options and warrants outstanding – May 31, 2014		30,806,361			1.13		3.29		177,042

Outstanding exercisable – May 31, 2014		29,986,581		$	1.15		3.21	$	170,042

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, 2014 and 2013:


	2014	2013
Risk free rate	0.52% - 1.85%	0.12% - .70%
Dividend yield	—	—
Volatility	78.73% - 92.92%	87% - 102%
Expected term	2.5 – 3.5 years	1 – 4 years
Grant date fair value	$ .40 - $.67	$ .56 - $.89