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

Stock Options and Warrants (Tables)

v3.2.0.727
Stock Options and Warrants (Tables)
12 Months Ended
May. 31, 2015
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, 2015 and 2014:

 

     2015    2014

Risk-free rate

   0.73% - 1.10%    0.52% - 1.85%

Dividend yield

   —      —  

Volatility

   74.36% - 81.16%    78.73% - 92.92%

Expected term

   2.5-3.5 years    2.5-3.5 years

Grant date fair value

   $0.33 - $0.60    $.40- $.67
Stock Option and Warrant Activity

The following table represents stock option and warrant activity for the periods ended May 31, 2015 and 2014:

 

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

Options and warrants outstanding - May 31, 2013

     18,146,838       $ 1.65         1.86       $ 140,321   

Granted

     18,414,244         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   
  

 

 

    

 

 

    

 

 

    

 

 

 

Granted

  9,262,038      0.93      —        —     

Exercised

  (2,038,974   0.55      —        —     

Forfeited/expired/cancelled

  (7,020,510   1.76      —        —     
  

 

 

          

Options and warrants outstanding - May 31, 2015

  31,008,915      0.88      2.94      5,538,335   
  

 

 

    

 

 

    

 

 

    

 

 

 

Outstanding exercisable - May 31, 2015

  29,898,494    $ 0.89      2.91    $ 5,334,919