Consolidated Statements of Operations - USD ($) |
12 Months Ended | ||
|---|---|---|---|
May 31, 2020 |
May 31, 2019 |
May 31, 2018 |
|
| Operating expenses: | |||
| General and administrative | $ 19,972,804 | $ 12,116,743 | $ 7,340,605 |
| Research and development | 52,639,981 | 42,490,144 | 38,222,580 |
| Amortization and depreciation | 2,034,440 | 1,245,167 | 356,128 |
| Total operating expenses | 74,647,225 | 55,852,054 | 45,919,313 |
| Operating loss | (74,647,225) | (55,852,054) | (45,919,313) |
| Other income (expense): | |||
| Other income | 500,000 | ||
| Interest income | 5,318 | 4,306 | 3,620 |
| Change in fair value of derivative liabilities | (9,541,704) | 1,666,469 | 1,690,935 |
| Loss on extinguishment of convertible note | 0 | (1,519,603) | 0 |
| Legal settlement | (22,500,000) | ||
| Interest expense: | |||
| Finance charges | (935,630) | ||
| Amortization of discount on convertible notes | (1,644,625) | (1,707,068) | (1,666,017) |
| Amortization of debt issuance costs | (404,340) | (459,085) | (435,609) |
| Inducement interest | (7,904,353) | (195,927) | (3,571,982) |
| Interest on convertible note payable | (7,330,843) | (950,617) | (251,315) |
| Total interest expense | (18,219,791) | (3,312,697) | (5,924,923) |
| Loss before income taxes | (124,403,402) | (59,013,579) | (50,149,681) |
| Income tax benefit | 0 | 2,826,919 | 0 |
| Net loss | $ (124,403,402) | $ (56,186,660) | $ (50,149,681) |
| Basic and diluted loss per share | $ (0.30) | $ (0.21) | $ (0.29) |
| Basic and diluted weighted average common shares outstanding | 421,077,605 | 272,040,933 | 174,885,422 |
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- Definition Change in fair value of derivative liabilities. No definition available.
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- Definition Finance charges. No definition available.
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- Definition Gains losses on extinguishment of convertible debt. No definition available.
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- Definition Interest on convertible note payable. No definition available.
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- Definition Interest related to warrant extensions and debt conversion. No definition available.
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- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Represents the charge against earnings during the period for commitment fees and debt issuance expenses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement process. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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