Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Aug. 31, 2022
Aug. 31, 2021
May 31, 2022
Cash flows from operating activities:      
Net loss $ (20,991) $ (45,337) [1]  
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization and depreciation 99 276 [1]  
Amortization of debt issuance costs 16 28 [1]  
Amortization of discount on convertible notes 576 952 [1]  
Legal settlement [1]   1,744  
Loss on derivatives 8,601    
Loss on induced conversion [1]   18,530  
Inducement interest expense and non-cash finance charges [1]   528  
Inventory charge 2,704 1,764 [1]  
Stock-based compensation 1,341 2,597 [1]  
Changes in operating assets and liabilities:      
(Increase) in prepaid expenses and other assets (1,601) (2,370) [1]  
(Decrease) in accounts payable and accrued expenses (1,819) (10,453) [1]  
Net cash used in operating activities (11,074) (31,741) [1]  
Cash flows from investing activities:      
Furniture and equipment purchases [1]   (8)  
Net cash used in investing activities [1]   (8)  
Cash flows from financing activities:      
Proceeds from warrant transactions, net of offering costs [1]   775  
Proceeds from sale of common stock and warrants, net of issuance costs 11,255 2,872 [1]  
Proceeds from warrant exercises 264 503 [1]  
Exercise of option to repurchase shares held in escrow [1]   9  
Proceeds from stock option exercises [1]   189  
Net cash provided by financing activities 11,519 4,348 [1]  
Net change in cash and restricted cash 445 (27,401) [1]  
Cash beginning of period 4,231 33,943 [1] $ 33,943 [1]
Cash end of period 4,676 6,542 [1] 4,231
Cash and restricted cash consisted of the following:      
Cash 4,676 6,533 [1] 4,231
Restricted cash [1]   9  
Total cash and restricted cash 4,676 6,542 [1] $ 4,231
Supplemental disclosure:      
Cash paid for interest [1]   35  
Non-cash investing and financing transactions:      
Issuance of common stock for principal and interest of convertible notes [1]   14,950  
Accrued dividends on convertible Series C and D Preferred Stock 384 $ 420 [1]  
Common stock issued due to round-down provision $ 4,154    
[1] See Note 2, Summary of Significant Accounting Policies.