Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Stockholders' Deficit

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Consolidated Statements of Stockholders' Deficit - USD ($)
shares in Thousands, $ in Thousands
Preferred Stock
Series C Convertible Preferred Stock
Preferred Stock
Common stock
Series C Convertible Preferred Stock
Common stock
Treasury Stock
Additional Paid-in Capital
Series C Convertible Preferred Stock
Additional Paid-in Capital
Accumulated Deficit
Total
Beginning balance at May. 31, 2022       $ 720     $ 671,013 $ (766,131) $ (94,398)
Beginning balance (shares) at May. 31, 2022   35   720,028 443        
Issuance of stock for convertible note repayment       $ 17     3,983   4,000
Issuance of stock for convertible note repayment (in shares)       17,260          
Loss on induced conversion             5,312   5,312
Warrants issued in Note offering             114   114
Stock issued for compensation       $ 3     982   985
Stock issued for compensation (in shares)       2,751          
Exercise of warrants, net of issuance costs       $ 13     2,794   2,807
Exercise of warrants, net of issuance costs (in shares)       13,094          
Make-whole shares related to private warrant exchange (in shares)       23          
Stock issued for private offerings       $ 157     37,067   37,224
Stock issued for private offerings (in shares)       157,390          
Offering costs related to stock issuance             (1,760)   (1,760)
Conversion of Series C preferred stock to common stock     $ 1     $ (1)      
Conversion of Series C preferred stock to common stock (in shares) (1)   1,136            
Warrant exercises       $ 2     437   439
Warrant exercises (in shares)       1,898          
Deemed dividend paid in common stock due to down round provision, recorded in additional paid-in capital       $ 6     (6)    
Deemed dividend paid in common stock due to down round provision recorded in additional paid-in capital (in shares)       5,154          
Preferred stock dividends accrued and paid in common stock upon conversion             (1,331)   (1,331)
Preferred stock dividends accrued and paid in common stock upon conversion (in shares)       319          
Reclassification of warrants from liability to equity             8,756   8,756
Finance charges related to warrant issuance for surety bond backstop agreement             4,885   4,885
Stock-based compensation             3,290   3,290
Reclassification of prior period preferred stock dividends             (4,265) 4,265  
Net loss               (79,824) (79,824)
Ending balance at May. 31, 2023       $ 919     731,270 (841,690) (109,501)
Ending balance (shares) at May. 31, 2023   34   919,053 443        
Issuance of stock for convertible note repayment       $ 34     5,216   5,250
Issuance of stock for convertible note repayment (in shares)       34,309          
Loss on induced conversion             6,680   6,680
Warrants issued in Note offering             359   359
Discount related to private offering modification             137   137
Note conversion       $ 24     7,126   7,150
Note conversion (in shares)       24,410          
Stock issued for compensation       $ 3     487   490
Stock issued for compensation (in shares)       2,608          
Stock issued for private offerings       $ 76     21,621   21,697
Stock issued for private offerings (in shares)       75,622          
Warrant exercises       $ 3     297   300
Warrant exercises (in shares)       3,000          
Preferred stock dividends accrued and paid in common stock upon conversion             (1,483)   (1,483)
Reclassification of warrants from liability to equity             79   79
Stock-based compensation             1,925   1,925
Net loss               (49,841) (49,841)
Ending balance at May. 31, 2024       $ 1,059     $ 773,714 $ (891,531) $ (116,758)
Ending balance (shares) at May. 31, 2024   34   1,059,002 443