Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Changes in Stockholders' Deficit

v3.24.4
Consolidated Statement of Changes in Stockholders' Deficit - USD ($)
shares in Thousands, $ in Thousands
Preferred stock
Common stock
Treasury stock
Additional paid-in capital
Accumulated deficit
Total
Treasury stock, shares     443      
Beginning balance at May. 31, 2023   $ 919   $ 731,270 $ (841,690) $ (109,501)
Beginning balance (shares) at May. 31, 2023 34 919,053        
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) income         (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        
Beginning balance at May. 31, 2023   $ 919   731,270 (841,690) (109,501)
Beginning balance (shares) at May. 31, 2023 34 919,053        
Net (loss) income           (21,134)
Ending balance at Nov. 30, 2023   $ 971   747,472 (862,824) (114,381)
Ending balance (shares) at Nov. 30, 2023 34 971,286        
Treasury stock, shares     443      
Beginning balance at Aug. 31, 2023   $ 931   735,441 (853,261) (116,889)
Beginning balance (shares) at Aug. 31, 2023 34 931,400        
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 offering   $ 21   6,307   6,328
Stock issued for private offering (in shares)   21,453        
Dividends accrued on Series C and D convertible preferred stock       (368)   (368)
Stock-based compensation       474   474
Net (loss) income         (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        
Treasury stock, shares     443      
Treasury stock, shares     443     443
Beginning balance at May. 31, 2024   $ 1,059   773,714 (891,531) $ (116,758)
Beginning balance (shares) at May. 31, 2024 34 1,059,002        
Issuance of stock for convertible note repayment   $ 9   991   1,000
Issuance of stock for convertible note repayment (in shares)   8,777        
Loss on induced conversion       1,180   1,180
Stock issued for tender offer   $ 152   13,874   14,026
Stock issued for tender offer (in shares)   152,505        
Issuance costs related to stock issued for tender offer       (3,649)   (3,649)
Dividends accrued on Series C and D convertible preferred stock       (372)   (372)
Stock-based compensation       136   136
Net (loss) income         19,227 19,227
Ending balance at Aug. 31, 2024   $ 1,220   785,874 (872,304) (85,210)
Ending balance (shares) at Aug. 31, 2024 34 1,220,284        
Beginning balance at May. 31, 2024   $ 1,059   773,714 (891,531) (116,758)
Beginning balance (shares) at May. 31, 2024 34 1,059,002        
Net (loss) income           14,459
Ending balance at Nov. 30, 2024   $ 1,224   786,458 (877,072) (89,390)
Ending balance (shares) at Nov. 30, 2024 34 1,223,517        
Treasury stock, shares     443      
Beginning balance at Aug. 31, 2024   $ 1,220   785,874 (872,304) (85,210)
Beginning balance (shares) at Aug. 31, 2024 34 1,220,284        
Issuance of stock for convertible note repayment   $ 4   416   420
Issuance of stock for convertible note repayment (in shares)   3,233        
Dividends accrued on Series C and D convertible preferred stock       (369)   (369)
Stock-based compensation       537   537
Net (loss) income         (4,768) (4,768)
Ending balance at Nov. 30, 2024   $ 1,224   $ 786,458 $ (877,072) $ (89,390)
Ending balance (shares) at Nov. 30, 2024 34 1,223,517        
Treasury stock, shares     443     443