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Consolidated Statement of Cash Flows (USD $)
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3 Months Ended | 6 Months Ended | |
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Nov. 30, 2014
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Nov. 30, 2014
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Nov. 30, 2013
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| Cash flows from operating activities: | |||
| Net loss | $ (4,983,914)us-gaap_NetIncomeLoss | $ (8,363,434)us-gaap_NetIncomeLoss | $ (6,161,144)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used by operating activities: | |||
| Amortization and depreciation | 90,127us-gaap_DepreciationAndAmortization | 180,040us-gaap_DepreciationAndAmortization | 175,620us-gaap_DepreciationAndAmortization |
| Amortization of debt issuance costs | 116,668us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts | ||
| Amortization of discount on convertible notes | 1,044,340us-gaap_AmortizationOfFinancingCostsAndDiscounts | 3,047,401us-gaap_AmortizationOfFinancingCostsAndDiscounts | |
| Amortization of discount on related party note | 60,699us-gaap_InterestExpenseRelatedParty | 60,699us-gaap_InterestExpenseRelatedParty | |
| Gain on settlement of accounts payable | (13,946)us-gaap_GainLossOnNonRecourseDebt | ||
| Change in fair value of derivative liability | 805,575us-gaap_GainLossOnDerivativeInstrumentsNetPretax | 805,575us-gaap_GainLossOnDerivativeInstrumentsNetPretax | |
| Interest expense associated with conversion inducement | 353,333us-gaap_InducedConversionOfConvertibleDebtExpense | 353,333us-gaap_InducedConversionOfConvertibleDebtExpense | 193,160us-gaap_InducedConversionOfConvertibleDebtExpense |
| Stock-based compensation | 287,847us-gaap_ShareBasedCompensation | 486,516us-gaap_ShareBasedCompensation | |
| Changes in current assets and liabilities: | |||
| Decrease (increase) in prepaid expenses | 90,039us-gaap_IncreaseDecreaseInPrepaidExpense | (117,658)us-gaap_IncreaseDecreaseInPrepaidExpense | |
| Increase (decrease) in accounts payable, accrued salaries, accrued interest and accrued liabilities | 270,701us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | (625,165)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | |
| Net cash used in operating activities | (5,270,860)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (2,898,548)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | |
| Cash flows from investing activities: | |||
| Furniture and equipment purchases | (16,052)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (11,217)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | |
| Net cash used in investing activities | (16,052)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (11,217)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | |
| Cash flows from financing activities: | |||
| Proceeds from issuance of convertible note payable | 2,000,000us-gaap_ProceedsFromConvertibleDebt | 1,200,000us-gaap_ProceedsFromConvertibleDebt | |
| Payment on convertible note payable | (250,000)us-gaap_RepaymentsOfConvertibleDebt | ||
| Proceeds from sale of common stock | 13,642,667us-gaap_ProceedsFromIssuanceOfCommonStock | ||
| Proceeds from exercise of warrants | 777,333us-gaap_ProceedsFromWarrantExercises | 50,000us-gaap_ProceedsFromWarrantExercises | |
| Deferred offering costs | (2,204,063)us-gaap_PaymentsOfFinancingCosts | ||
| Net cash provided by financing activities | 2,777,333us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 12,438,604us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | |
| Net change in cash | (2,509,579)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 9,528,839us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | |
| Cash, beginning of period | 4,886,122us-gaap_CashAndCashEquivalentsAtCarryingValue | 603,681us-gaap_CashAndCashEquivalentsAtCarryingValue | |
| Cash, end of period | 2,376,543us-gaap_CashAndCashEquivalentsAtCarryingValue | 2,376,543us-gaap_CashAndCashEquivalentsAtCarryingValue | 10,132,520us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash paid during the period for: | |||
| Income taxes | 2,198us-gaap_IncomeTaxesPaid | ||
| Interest | 142,926us-gaap_InterestPaid | 278,493us-gaap_InterestPaid | |
| Non-cash investing and financing transactions: | |||
| Common stock issued for convertible debt | 1,175,000us-gaap_DebtConversionConvertedInstrumentAmount1 | 2,359,000us-gaap_DebtConversionConvertedInstrumentAmount1 | |
| Common stock issued or to be issued for accrued interest payable | 729us-gaap_StockIssued1 | 74,338us-gaap_StockIssued1 | |
| Original issue discount and intrinsic value of beneficial conversion feature related to debt issued with warrants | 1,200,000cydy_OriginalIssueDiscountAndIntrinsicValueOfBeneficialConversionFeatureRelatedToDebt | ||
| Original issue discount related to valuation of compound embedded derivative of convertible note payable issued with anti-dilution feature | 767,038us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature | ||
| Original issue discount related to valuation of relative fair value of warrants issued with convertible note payable | $ 158,345us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability | $ 158,345us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability | |
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- Definition
Original issue discount and intrinsic value of beneficial conversion feature related to debt. No definition available.
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- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the charge against earnings during the period for commitment fees and debt issuance expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount represents the difference between the cash acquisition price of the debt and the net carrying amount of the debt at the time of its extinguishment (or deconsolidation of in-substance real estate when an entity defaults on its debt obligations). No definition available.
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Consideration given by issuer of convertible debt to provide an incentive for debt holders to convert the debt to equity securities. The expense is equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities issuable pursuant to the original conversion terms. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of interest expense incurred on a debt or other obligation to related party. No definition available.
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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/presentationRef
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- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the amount received from holders exercising their stock warrants. No definition available.
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- Definition
The cash outflow from the repayment of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The fair value of stock issued in noncash financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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