Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets
Feb. 28, 2018
USD ($)
May 31, 2017
USD ($)
Current assets:    
Cash $ 4,946,942 $ 1,775,583
Prepaid expenses 265,729 207,314
Prepaid service fees 1,404,776 4,138,041
Total current assets 6,617,447 6,120,938
Furniture and equipment, net 12,424 17,281
Intangibles, net 1,654,662 1,917,219
Total assets 8,284,533 8,055,438
Current liabilities:    
Accounts payable 11,655,124 4,281,204
Accrued compensation 292,990 637,190
Accrued license fees 83,400 167,000
Accrued liabilities 556,896  
Convertible notes payable, net   1,058,611
Total current liabilities 12,588,410 6,144,005
Long-term liabilities:    
Derivative liability 3,288,799 3,014,667
Total long-term liabilities 3,288,799 3,014,667
Total liabilities 15,877,209 9,158,672
Commitments and Contingencies
Stockholders' (Deficit) Equity    
Series B convertible preferred stock, $0.001 par value; 400,000 shares authorized, 92,100 shares issued and outstanding at February 28, 2018 and May 31, 2017, respectively 92 92
Common stock, $0.001 par value; 375,000,000 and 350,000,000 shares authorized, 208,904,000 and 149,468,244 issued and outstanding at February 28, 2018 and May 31, 2017, respectively 208,904 149,468
Additional paid-in capital 155,714,101 121,736,921
Accumulated (deficit) (163,515,773) (122,989,715)
Total stockholders' (deficit) (7,592,676) (1,103,234)
Total liabilities and stockholders' (deficit) equity $ 8,284,533 $ 8,055,438