Quarterly report pursuant to Section 13 or 15(d)

Loss Per Common Share

v3.22.1
Loss Per Common Share
9 Months Ended
Feb. 28, 2022
Earnings Per Share [Abstract]  
Loss Per Common Share

Note 8. Loss per Common Share

Basic loss per share is computed by dividing the net loss adjusted for preferred stock dividends by the weighted average number of common shares outstanding during the period. Diluted loss per share includes the weighted average common shares outstanding and potentially dilutive common stock equivalents. Because of the net losses for all periods presented, the basic and diluted weighted average shares outstanding are the same since including the additional shares would have an anti-dilutive effect on the loss per share.

The table below shows the number of shares of common stock issuable upon the exercise, vesting or conversion of outstanding options, warrants, unvested restricted stock units (including those subject to performance conditions), convertible notes, and convertible preferred stock (including undeclared dividends) that were not included in the computation of basic and diluted weighted average number of shares of common stock outstanding for the periods presented:

Three and nine months ended February 28,

(in thousands)

    

2022

    

2021

Stock options, warrants, and unvested restricted stock units

98,309

68,857

Convertible notes

12,000

12,000

Convertible preferred stock

32,197

32,159