Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.25.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Feb. 28, 2025
Feb. 29, 2024
Feb. 28, 2025
Feb. 29, 2024
Operating expenses:        
General and administrative $ 1,511 $ 2,757 $ 5,409 $ 7,756
Research and development 2,487 650 (20,150) 3,643
Depreciation 5 7 14 25
Total operating expenses 4,003 3,414 (14,727) 11,424
Operating (loss) gain (4,003) (3,414) 14,727 (11,424)
Interest and other income (expense):        
Interest income 173   441  
Interest on convertible notes (1,143) (1,151) (3,469) (3,512)
Amortization of discount on convertible notes (110) (409) (348) (951)
Amortization of debt issuance costs   (203)   (572)
Issuance costs for private placement of shares and warrants through placement agent       (906)
Loss on induced conversion   (3,353) (1,180) (5,993)
Finance charges (2) (882) (25) (2,685)
Loss on note extinguishment   (1,550)   (6,040)
Gain on restructuring of payables 327   407  
Loss on derivatives   (958) (852) (971)
Total interest and other expenses (755) (8,506) (5,026) (21,630)
(Loss) gain before income taxes (4,758) (11,920) 9,701 (33,054)
Income tax benefit 0 0 0 0
Net (loss) income $ (4,758) $ (11,920) $ 9,701 $ (33,054)
(Loss) income per share:        
Basic (loss) income per share $ 0 $ (0.01) $ 0.01 $ (0.04)
Income (loss) per share, Diluted $ 0 $ (0.01) $ 0.01 $ (0.04)
Weighted average common shares used in calculation of (loss) income per share:        
Weighted average common shares outstanding, Basic 1,228,259 982,209 1,194,561 954,814
Weighted average common shares outstanding, Diluted 1,228,259 982,209 1,225,538 954,814