Quarterly report pursuant to Section 13 or 15(d)

Convertible Instruments (Tables)

v3.8.0.1
Convertible Instruments (Tables)
 9 Months Ended
Feb. 28, 2018
Activity Related to Notes

Activity related to the Notes was as follows:

 

     February 28, 2018      May 31, 2017  

Face amount of Notes

    $ 6,038,500      $ 1,150,000  

Unamortized discount

      —          (92,000 ) 

Unamortized issuance costs

      —          —    

Registered direct offering

      (5,788,500 )       —    

Note repayment

      (250,000 )       —    
  

 

 

     

 

 

  

Carrying value of Notes, net

    $ —        $ 1,058,000  
  

 

 

     

 

 

  
Investor Warrants  
Weighted Average Assumptions to Value Investor Warrants

The Company determined the fair value of the warrants at issuance using the Black-Scholes option pricing model utilizing certain weighted average assumptions, such as expected stock price volatility, expected term of the warrants, risk-free interest rates and expected dividend yield at the grant date.

 

     2017

Expected dividend yield

    0%

Stock price volatility

    69.5 - 69.80%

Expected term

    5 year

Risk-free interest rate

    1.75 - 1.83%

Grant-date fair value

    $0.28 - $0.39