Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Changes Stockholders' Deficit

v3.24.1.u1
Consolidated Statements of Changes Stockholders' Deficit - USD ($)
shares in Thousands, $ in Thousands
Preferred Stock
Series C Convertible Preferred Stock
Preferred Stock
Common stock
Series C Convertible Preferred Stock
Common stock
Private Equity Offering
Common stock
Treasury Stock
Additional Paid-in Capital
Series C Convertible Preferred Stock
Additional Paid-in Capital
Private Equity Offering
Additional Paid-in Capital
Accumulated Deficit
Private Equity Offering
Total
Beginning balance at May. 31, 2022         $ 720       $ 671,013 $ (766,131)   $ (94,398)
Beginning balance (shares) at May. 31, 2022   35     720,028             443
Stock issued for compensation         $ 1       344     $ 345
Stock issued for compensation (in shares)         879              
Stock issued for private offerings       $ 85       $ 17,459     $ 17,544  
Stock issued for private offerings (in shares)       85,378                
Issuance costs related to stock issued for private offerings                 (6,289)     (6,289)
Conversion of preferred stock to common stock     $ 1       $ (1)          
Conversion of preferred stock to common stock (in shares) (1)   1,136                  
Warrant exercises         $ 1       263     264
Warrant exercises (in shares)         657              
Deemed dividend paid in common stock due to down round provision, recorded in additional paid-in capital         $ 5       (5)      
Deemed dividend paid in common stock due to down round provision recorded in additional paid-in capital (in shares)         4,620              
Dividends accrued on Series C and D convertible preferred stock                 (384)     (384)
Reclassification of warrants from liability to equity classified                 8,601     8,601
Stock-based compensation                 996     996
Reclassification of prior period preferred stock dividends                 (4,265) 4,265    
Net loss                   (20,991)   (20,991)
Ending balance at Aug. 31, 2022         $ 813       687,732 (782,857)   $ (94,312)
Ending balance (shares) at Aug. 31, 2022   34     812,698             443
Beginning balance at May. 31, 2022         $ 720       671,013 (766,131)   $ (94,398)
Beginning balance (shares) at May. 31, 2022   35     720,028             443
Loss on induced conversion                       $ 2,656
Net loss                       (61,188)
Ending balance at Feb. 28, 2023         $ 837       715,207 (823,054)   $ (107,010)
Ending balance (shares) at Feb. 28, 2023   34     837,031             443
Beginning balance at Aug. 31, 2022         $ 813       687,732 (782,857)   $ (94,312)
Beginning balance (shares) at Aug. 31, 2022   34     812,698             443
Issuance of stock for convertible note repayment         $ 2       498     $ 500
Issuance of stock for convertible note repayment (in shares)         1,822              
Loss on induced conversion                 638     638
Stock issued for compensation                 310     310
Stock issued for compensation (in shares)         765              
Exercise of warrants, net of issuance costs         $ 10       2,123     2,133
Exercise of warrants, net of issuance costs (in shares)         9,652              
Make-whole shares related to private warrant exchange (in shares)         23              
Dividend paid in common stock upon conversion of Series C convertible preferred stock ($0.50 per share)                 159     159
Dividend paid in common stock upon conversion of Series C convertible preferred stock ($0.50 per share) (in shares)         319              
Dividends accrued on Series C and D convertible preferred stock                 (369)     (369)
Stock-based compensation                 1,467     1,467
Net loss                   (26,495)   (26,495)
Ending balance at Nov. 30, 2022         $ 825       692,558 (809,352)   $ (115,969)
Ending balance (shares) at Nov. 30, 2022   34     825,279             443
Issuance of stock for convertible note repayment         $ 7       1,493     $ 1,500
Issuance of stock for convertible note repayment (in shares)         7,150              
Loss on induced conversion                 2,018     2,018
Stock issued for compensation         $ 1       181     182
Stock issued for compensation (in shares)         626              
Stock to be issued for private offerings                 18,045     18,045
Exercise of warrants, net of issuance costs         $ 3       679     682
Exercise of warrants, net of issuance costs (in shares)         3,442              
Issuance costs related to stock issued for private offerings                 (4,699)     (4,699)
Deemed dividend paid in common stock due to down round provision, recorded in additional paid-in capital         $ 1       (1)      
Deemed dividend paid in common stock due to down round provision recorded in additional paid-in capital (in shares)         534              
Dividends accrued on Series C and D convertible preferred stock                 (364)     (364)
Reclassification of warrants from liability to equity classified                 155     155
Finance charges related to warrant issuance for surety bond backstop agreement                 4,885     4,885
Stock-based compensation                 257     257
Net loss                   (13,702)   (13,702)
Ending balance at Feb. 28, 2023         $ 837       715,207 (823,054)   $ (107,010)
Ending balance (shares) at Feb. 28, 2023   34     837,031             443
Beginning balance at May. 31, 2023         $ 919       731,270 (841,690)   $ (109,501)
Beginning balance (shares) at May. 31, 2023   34     919,053 443            
Issuance of stock for convertible note repayment         $ 8       1,492     1,500
Issuance of stock for convertible note repayment (in shares)         8,661              
Loss on induced conversion                 2,004     2,004
Warrants issued in note offering                 170     170
Stock issued for compensation         $ 1       154     155
Stock issued for compensation (in shares)         686              
Warrant exercises         $ 3       297     300
Warrant exercises (in shares)         3,000              
Dividends accrued on Series C and D convertible preferred stock                 (373)     (373)
Reclassification of warrants from liability to equity classified                 79     79
Stock-based compensation                 348     348
Net loss                   (11,571)   (11,571)
Ending balance at Aug. 31, 2023         $ 931       735,441 (853,261)   (116,889)
Ending balance (shares) at Aug. 31, 2023   34     931,400 443            
Beginning balance at May. 31, 2023         $ 919       731,270 (841,690)   (109,501)
Beginning balance (shares) at May. 31, 2023   34     919,053 443            
Loss on induced conversion                       5,993
Net loss                       (33,054)
Ending balance at Feb. 29, 2024         $ 990       754,372 (874,744)   (119,382)
Ending balance (shares) at Feb. 29, 2024   34     990,368 443            
Beginning balance at Aug. 31, 2023         $ 931       735,441 (853,261)   (116,889)
Beginning balance (shares) at Aug. 31, 2023   34     931,400 443            
Issuance of stock for convertible note repayment         $ 4       496     500
Issuance of stock for convertible note repayment (in shares)         3,535              
Loss on induced conversion                 636     636
Warrants issued in note offering                 10     10
Note conversion         $ 14       4,379     4,393
Note conversion (in shares)         14,339              
Stock issued for compensation         $ 1       97     98
Stock issued for compensation (in shares)         559              
Stock issued for private offerings         $ 21       6,307     6,328
Stock issued for private offerings (in shares)         21,453              
Dividends accrued on Series C and D convertible preferred stock                 (368)     (368)
Stock-based compensation                 474     474
Net loss                   (9,563)   (9,563)
Ending balance at Nov. 30, 2023         $ 971       747,472 (862,824)   (114,381)
Ending balance (shares) at Nov. 30, 2023   34     971,286 443            
Issuance of stock for convertible note repayment         $ 19       2,731     2,750
Issuance of stock for convertible note repayment (in shares)         18,674              
Loss on induced conversion                 3,353     3,353
Warrants issued in note offering                 179     179
Discount related to private offering modification                 137     137
Stock issued for compensation                 75     75
Stock issued for compensation (in shares)         408              
Dividends accrued on Series C and D convertible preferred stock                 (369)     (369)
Stock-based compensation                 794     794
Net loss                   (11,920)   (11,920)
Ending balance at Feb. 29, 2024         $ 990       $ 754,372 $ (874,744)   $ (119,382)
Ending balance (shares) at Feb. 29, 2024   34     990,368 443