Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2021
May 31, 2020
Current assets:    
Cash $ 33,943 $ 14,282
Restricted cash   10
Inventories, net 93,479 19,147
Prepaid expenses 616 498
Prepaid service fees 1,543 2,890
Total current assets 129,581 36,827
Operating leases right-of-use asset 712 176
Property and equipment, net 134 55
Intangibles, net 1,653 13,456
Total assets 132,080 50,514
Current liabilities:    
Accounts payable 65,897 29,479
Accrued liabilities and compensation 19,073 6,879
Accrued interest on convertible notes 2,007 292
Accrued dividends on convertible preferred stock 2,647 981
Operating leases liabilities 175 115
Current portion of long-term convertible notes payable 62,747 6,745
Warrant exercise proceeds held in trust   10
Total current liabilities 152,546 44,501
Long-term liabilities:    
Convertible notes payable, net   8,431
Operating leases liabilities 552 63
Total long-term liabilities 552 8,494
Total liabilities 153,098 52,995
Commitments and Contingencies (Note 10)
Stockholders' (Deficit) Equity    
Common stock, $0.001 par value; 800,000 shares authorized, 626,123 and 519,262 issued and 625,680 and 518,976 outstanding at May 31, 2021 and May 31, 2020, respectively 626 519
Additional paid-in capital 489,650 351,711
Accumulated (deficit) (511,294) (354,711)
Total stockholders' (deficit) equity (21,018) (2,481)
Total liabilities and stockholders' (deficit) equity 132,080 50,514
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 1,500 700
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock $ 1,100 $ 300