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

Stock Options and Warrants (Tables)

v3.3.1.900
Stock Options and Warrants (Tables)
 6 Months Ended 12 Months Ended
Nov. 30, 2015
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 as of and for the six-months ended November 30, 2015:

 

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

Options and warrants outstanding at May 31, 2015

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

Granted

      14,074,092         0.78         —           —     

Exercised

      —           —           —           —     

Forfeited/expired/cancelled

      (465,000 )       —           —           —     
  

 

 

           

Options and warrants outstanding at November 30, 2015

      44,618,007         0.84         3.39         4,043,336   
  

 

 

           

Outstanding exercisable at November 30, 2015

      41,406,237       $ 0.84         3.13       $ 3,959,503   
  

 

 

           

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