Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.19.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Feb. 28, 2019
Feb. 28, 2018
Operating expenses:        
General and administrative $ 3,345,179 $ 1,974,915 $ 8,005,346 $ 5,153,336
Research and development 9,022,223 12,076,460 33,294,771 29,301,808
Amortization and depreciation 503,922 89,132 747,693 267,414
Total operating expenses 12,871,324 14,140,507 42,047,810 34,722,558
Operating loss (12,871,324) (14,140,507) (42,047,810) (34,722,558)
Interest income 19 662 2,021 1,870
Change in fair value of derivative liabilities 1,347,907 (741,066) 881,495 (274,132)
Interest expense:        
Amortization of discount on convertible notes (559,383) (493,022) (676,917) (1,666,017)
Amortization of debt issuance costs (155,435) (153,480) (175,024) (435,609)
Loss on extinguishment of convertible note 0 0 (1,519,603) 0
Inducement interest related to warrant exercise 0 0 0 (826,252)
Inducement interest related to convertible debt 0 (2,352,045) 0 (2,352,045)
Interest on convertible note payable (335,595) (70,642) (583,842) (251,315)
Total interest expense (1,050,413) (3,069,189) (2,955,386) (5,531,238)
Loss before income taxes (12,573,811) (17,950,100) (44,119,680) (40,526,058)
Income tax benefit 0 0 2,826,919 0
Net loss $ (12,573,811) $ (17,950,100) $ (41,292,761) $ (40,526,058)
Basic and diluted loss per share $ (0.04) $ (0.10) $ (0.16) $ (0.25)
Basic and diluted weighted average common shares outstanding 295,637,023 178,088,905 257,491,288 162,460,451