| Schedule of outstanding balances of convertible notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of November 30, 2021 |
|
As of May 31, 2021 |
(in thousands) |
|
November 2020 Note |
|
April 2, 2021 Note |
|
April 23, 2021 Note |
|
Total |
|
November 2020 Note |
|
April 2, 2021 Note |
|
April 23, 2021 Note |
|
Total |
Convertible notes payable outstanding principal |
|
$ |
- |
|
$ |
19,500 |
|
$ |
28,500 |
|
$ |
48,000 |
|
$ |
13,500 |
|
$ |
28,500 |
|
$ |
28,500 |
|
$ |
70,500 |
Less: Unamortized debt discount and issuance costs |
|
|
- |
|
|
(1,613) |
|
|
(2,440) |
|
|
(4,053) |
|
|
(1,204) |
|
|
(3,232) |
|
|
(3,317) |
|
|
(7,753) |
Convertible notes payable, net |
|
|
- |
|
|
17,887 |
- |
|
26,060 |
|
|
43,947 |
|
|
12,296 |
|
|
25,268 |
|
|
25,183 |
|
|
62,747 |
Accrued interest on convertible notes |
|
|
- |
|
|
1,866 |
|
|
1,804 |
|
|
3,670 |
|
|
1,258 |
|
|
447 |
|
|
302 |
|
|
2,007 |
Outstanding convertible notes payable, net and accrued interest |
|
$ |
- |
|
$ |
19,753 |
|
$ |
27,864 |
|
$ |
47,617 |
|
$ |
13,554 |
|
$ |
25,715 |
|
$ |
25,485 |
|
$ |
64,754 |
|
| Schedule of rollforward of the outstanding balance of convertible notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
November 2020 Note |
|
April 2, 2021 Note |
|
April 23, 2021 Note |
|
Total |
Outstanding balance May 31, 2021 |
|
$ |
13,554 |
|
$ |
25,715 |
|
$ |
25,485 |
|
$ |
64,754 |
Consideration received |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
Amortization of issuance discount and costs |
|
|
98 |
|
|
821 |
|
|
877 |
|
|
1,796 |
Interest expense accrued |
|
|
192 |
|
|
1,419 |
|
|
1,502 |
|
|
3,113 |
Cash repayments |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
Conversions |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
Fair market value of shares exchanged for repayment |
|
|
(18,495) |
|
|
(11,514) |
|
|
- |
|
|
(30,009) |
Debt extinguishment loss |
|
|
4,651 |
|
|
3,312 |
|
|
- |
|
|
7,963 |
Outstanding balance November 30, 2021 |
|
$ |
- |
|
$ |
19,753 |
|
$ |
27,864 |
|
$ |
47,617 |
|