CytoDyn Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Changes in Shareholders' Equity (Deficit)

Consolidated Statements of Changes in Shareholders' Equity (Deficit) (USD $)	Total	Common stock issued one	Common stock issued two	Common stock issued three	Preferred Stock	Preferred Stock Series B Preferred Stock [Member]	Common Stock	Common Stock Common stock issued one	Common Stock Common stock issued two	Common Stock Common stock issued three	Additional Paid-In Capital	Subject to recession	Subject to recession Common stock issued one	Subject to recession Common stock issued two	Subject to recession Common stock issued three	Subject to recession Common stock issued four	Subject to recession Common stock issued five	Subject to recession Series B Preferred Stock [Member]	Common Stock Payable	Treasury Stock	Treasury Stock Common stock issued one	Treasury Stock Common stock issued two	Treasury Stock Common stock issued four	Treasury Stock Common stock issued five	Treasury Stock APIC	Treasury Stock APIC Common stock issued four	Treasury Stock APIC Common stock issued five	Stock for prepaid services	Accumulated Deficit	Accumulated Deficit During Development Stage
Beginning balance at Oct. 28, 2003	$ (145,206)						$ 1,425,334				$ 23,502																		$ (1,594,042)
Beginning balance, shares at Oct. 28, 2003							6,252,640
Sale of common stock less offering costs, shares							1,800,000
Sale of common stock less offering costs	486,000						486,000
Shares issued to former officer as payment for working capital advance, shares							16,667
Shares issued to former officer as payment for working capital advance	5,000						5,000
Net loss at year ended	(345,914)																												(7,870)	(338,044)
Ending balance at May. 31, 2004	(120)						1,916,334				23,502																		(1,601,912)	(338,044)
Ending balance, shares at May. 31, 2004							8,069,307
July 2004, capital contribution by an officer	512										512
February 2005, capital contribution by an officer	5,000										5,000
Common stock warrants granted	11,928										11,928
Net loss at year ended	(777,083)																													(777,083)
Ending balance at May. 31, 2005	(759,763)						1,916,334				40,942																		(1,601,912)	(1,115,127)
Ending balance, shares at May. 31, 2005							8,069,307
Sale of common stock less offering costs, shares							289,890
Sale of common stock less offering costs	189,550						189,550
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares							350,000
Common shares issued to extinguish promissory notes payable, convertible debt and related interest	437,500						437,500
94,500 warrants exercised ($.30/share), shares							94,500
94,500 warrants exercised ($.30/share)	28,350						28,350
Common shares issued for prepaid services							370,750																					(370,750)
August 2005, common shares issued to extinguish promissory notes payable and related interest ($.75/share), shares							160,110
August 2005, common shares issued to extinguish promissory notes payable and related interest ($.75/share)	120,082						120,082
Common shares issued for prepaid services, shares							183,857
Stock options issued to extinguish debt	86,341										86,341
Warrants issued with convertible debt	274,950										274,950
Beneficial conversion feature of convertible debt	234,550										234,550
Stock options granted to consultants	687,726										687,726
Amortization of prepaid stock services	103,690																											103,690
Net loss at year ended	(2,053,944)																													(2,053,944)
Ending balance at May. 31, 2006	(650,968)						3,062,566				1,324,509																	(267,060)	(1,601,912)	(3,169,071)
Ending balance, shares at May. 31, 2006							9,147,664
Preferred stock issued subsidiary, shares					100,000
Preferred stock issued subsidiary, value	167,500				167,500
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares							119,600
Common shares issued to extinguish promissory notes payable, convertible debt and related interest	149,500						149,500
Common stock payable for prepaid services	13,479										120,000																	(106,521)
Warrants issued with convertible debt	92,500										92,500
Common stock issued for acquisition, Shares							2,000,000
Common stock issued for acquisition	934,399						934,399
Common Stock Issued For Services, shares							30,000
Common Stock Issued For Services, value	26,400						26,400
Amortization of prepaid stock services	267,060																											267,060
Stock-based compensation	535,984										535,984
Net loss at year ended	(2,610,070)																													(2,610,070)
Ending balance at May. 31, 2007	(1,074,216)				167,500		4,172,865				2,072,993																	(106,521)	(1,601,912)	(5,779,141)
Ending balance, shares at May. 31, 2007					100,000		11,297,264
Sale of common stock less offering costs, shares							642,000
Sale of common stock less offering costs							321,000					(321,000)
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares							750,000
Common shares issued to extinguish promissory notes payable, convertible debt and related interest	75,000						75,000
Warrants issued with convertible debt	3,662										3,662
Beneficial conversion feature of convertible debt	75,000										75,000
Rescission of common stock issued for services, shares							(142,857)
Rescission of Common stock issued for services, value	(100,000)						(100,000)
Amortization of prepaid stock services	106,521																											106,521
Stock-based compensation	461,602										461,602
Net loss at year ended	(1,193,684)																													(1,193,684)
Ending balance at May. 31, 2008	(1,646,115)				167,500		4,468,865				2,613,257	(321,000)																	(1,601,912)	(6,972,825)
Ending balance, shares at May. 31, 2008					100,000		12,546,407
Sale of common stock less offering costs, shares	3,023,308
Sale of common stock less offering costs	17,654						1,511,654					(1,494,000)
Capital contribution by an officer	8,900										8,900
Stock Issued for Services, shares								388,200	150,000	15,400
Stock issued for services, value		194,100	55,500	6,468				194,100		6,468
Stock issued for services, value									55,500
Stock-based compensation	371,996										371,996
Stock issued in payment of accounts payable, shares	98,000
Stock issued in payment of accounts payable, value	49,000
Net loss at year ended	(1,306,004)																													(1,306,004)
Ending balance at May. 31, 2009	(2,248,501)				167,500		6,285,587				2,994,153	(1,815,000)																	(1,601,912)	(8,278,829)
Ending balance, shares at May. 31, 2009	16,221,315				100,000
Sale of common stock less offering costs, shares						400,000		236,400	632,000	304,580													550,000	568,420
Sale of common stock less offering costs						2,009,000		118,200	290,500	137,061			(118,200)	(290,500)	(137,061)	(277,000)	(253,789)	(2,009,000)					154,000	159,158		123,000	94,631
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares					(100,000)		2,356,142
Common shares issued to extinguish promissory notes payable, convertible debt and related interest					(167,500)		167,500
Conversion of debt to Common stock ($.45/share)	146,456						146,456
Conversion of debt to Common stock ($.45/share), shares							325,458
Beneficial conversion feature of convertible debt	38,604										38,604
Amortization of prepaid stock services	69,003																											69,003
Stock Issued for Services, shares																				81,580
Stock issued for services, value																				22,842					95,449			(118,291)
Stock-based compensation	1,671,118										1,671,118
Expiration of rescission liabilities	903,550											903,550
Repurchase of common stock, shares																					(1,200,000)	(200,000)
Repurchase of common stock, value		(336,000)	(100,000)																		(336,000)	(100,000)
Net loss at year ended	(3,359,865)																													(3,359,865)
Ending balance at May. 31, 2010	(3,215,635)				2,009,000		7,145,304				4,703,875	(3,997,000)								(100,000)					313,080			(49,288)	(1,601,912)	(11,638,694)
Ending balance, shares at May. 31, 2010					400,000		20,075,895													(200,000)
Sale of common stock less offering costs, shares							1,365,987
Sale of common stock less offering costs							1,365,987					(1,365,987)
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares					(88,200)		882,000
Common shares issued to extinguish promissory notes payable, convertible debt and related interest					(442,984)		442,984
Capital contribution by an officer	229,500										229,500
Amortization of prepaid stock services	49,288																											49,288
Series B Convertible Preferred Stock dividends, shares							17,100
Series B Convertible Preferred Stock dividends, value							8,550				(8,550)
Stock Issued for Services, shares							150,000
Stock issued for services, value	184,500						184,500
Stock-based compensation	952,316										952,316
Rescission expirations and exclusions (unaudited)	511,987											511,987
Net loss at year ended	(3,719,688)																													(3,719,688)
Ending balance at May. 31, 2011	(5,007,732)				1,566,016		9,147,325				5,877,141	(4,851,000)								(100,000)					313,080				(1,601,912)	(15,358,382)
Ending balance, shares at May. 31, 2011					311,800		22,490,982													(200,000)
Sale of common stock less offering costs, shares							1,997,388
Sale of common stock less offering costs	2,996,024						2,996,024
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares					(212,900)		2,129,000
Common shares issued to extinguish promissory notes payable, convertible debt and related interest					(1,064,500)		1,064,500
Capital contribution by an officer	1,336										1,336
94,500 warrants exercised ($.30/share), shares							527,500
94,500 warrants exercised ($.30/share)	326,900						326,900
Common Stock issued for services to consultants, shares							72,500
Common Stock issued for services to consultants, value	203,000						203,000
Common Stock issued for services to Directors, shares							16,675
Common Stock issued for services to Directors, value	34,560						34,560
Series B Convertible Preferred Stock dividends, shares							177,485
Series B Convertible Preferred Stock dividends, value							88,743				(88,743)
Series B Convertible Preferred Stock Cash Dividends	(1,500)										(1,500)
Common stock warrants granted/issued	540,009										540,009
Stock-based compensation	1,692,290										1,692,290
Rescission expirations and exclusions (unaudited)	1,102,000											1,102,000
Common shares issued from Escrow liability, shares							1,425,000
Common shares issued from Escrow liability, value	1,425,000						1,425,000
Common stock to be issued related to legal settlement	388,000																		388,000
Amortization of deferred offering costs related to rescission liability	(199,097)				(49,523)		(135,791)																		(13,783)
Net loss at year ended	(7,474,224)																													(7,474,224)
Ending balance at May. 31, 2012	$ (3,973,434)				$ 451,993		$ 15,150,261				$ 8,020,533	$ (3,749,000)							$ (388,000)	$ (100,000)					$ 299,297				$ (1,601,912)	$ (22,832,606)
Ending balance, shares at May. 31, 2012					98,900		28,836,530													(200,000)