General form of registration statement for all companies including face-amount certificate companies

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2024
May 31, 2023
Current assets:    
Cash $ 3,110 $ 2,541
Restricted cash 6,704 6,507
Prepaid expenses 463 1,167
Prepaid service fees 538 590
Total current assets 10,815 10,805
Other non-current assets 321 487
Total assets 11,136 11,292
Current liabilities:    
Accounts payable 29,561 62,725
Accrued liabilities and compensation 2,810 6,669
Accrued interest on convertible notes 15,227 10,598
Accrued dividends on convertible preferred stock 6,791 5,308
Convertible notes payable, net 29,793 34,417
Derivative liability - equity instruments   79
Total current liabilities 84,182 119,796
Long-term liabilities:    
Notes payable, net   714
Operating leases 141 283
Other liabilities (Note 10) 43,571  
Total liabilities 127,894 120,793
Commitments and Contingencies (Note 10)
Stockholders' deficit:    
Preferred stock
Common stock, $0.001 par value; 1,750,000 shares authorized; 1,059,002 and 919,053 issued, and 1,058,559 and 918,610 outstanding at May 31, 2024 and May 31, 2023, respectively 1,059 919
Treasury stock, $0.001 par value; 443 shares at May 31, 2024 and May 31, 2023
Additional paid-in capital 773,714 731,270
Accumulated deficit (891,531) (841,690)
Total stockholders' deficit (116,758) (109,501)
Total liabilities and stockholders' deficit 11,136 11,292
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 3,135 2,500
Stockholders' deficit:    
Preferred stock
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 3,656 2,808
Stockholders' deficit:    
Preferred stock