Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Changes in Stockholders' Deficit

v3.25.1
Consolidated Statement of Changes in Stockholders' Deficit - USD ($)
shares in Thousands, $ in Thousands
Preferred stock
Common stock
Treasury stock
Additional paid-in capital
Accumulated deficit
Total
Treasury stock, shares     443      
Beginning balance at May. 31, 2023   $ 919   $ 731,270 $ (841,690) $ (109,501)
Beginning balance (shares) at May. 31, 2023 34 919,053        
Issuance of stock for convertible note repayment   $ 8   1,492   1,500
Issuance of stock for convertible note repayment (in shares)   8,661        
Loss on induced conversion       2,004   2,004
Warrants issued in note offering       170   170
Stock issued for compensation   $ 1   154   155
Stock issued for compensation (in shares)   686        
Warrant exercises   $ 3   297   300
Warrant exercises (in shares)   3,000        
Dividends accrued on Series C and D convertible preferred stock       (373)   (373)
Reclassification of warrants from liability to equity classified       79   79
Stock-based compensation       348   348
Net (loss) income         (11,571) (11,571)
Ending balance at Aug. 31, 2023   $ 931   735,441 (853,261) (116,889)
Ending balance (shares) at Aug. 31, 2023 34 931,400        
Beginning balance at May. 31, 2023   $ 919   731,270 (841,690) (109,501)
Beginning balance (shares) at May. 31, 2023 34 919,053        
Net (loss) income           (33,054)
Ending balance at Feb. 29, 2024   $ 990   754,372 (874,744) (119,382)
Ending balance (shares) at Feb. 29, 2024 34 990,368        
Treasury stock, shares     443      
Beginning balance at Aug. 31, 2023   $ 931   735,441 (853,261) (116,889)
Beginning balance (shares) at Aug. 31, 2023 34 931,400        
Issuance of stock for convertible note repayment   $ 4   496   500
Issuance of stock for convertible note repayment (in shares)   3,535        
Loss on induced conversion       636   636
Warrants issued in note offering       10   10
Note conversion   $ 14   4,379   4,393
Note conversion (in shares)   14,339        
Stock issued for compensation   $ 1   97   98
Stock issued for compensation (in shares)   559        
Stock issued for private offering   $ 21   6,307   6,328
Stock issued for private offering (in shares)   21,453        
Dividends accrued on Series C and D convertible preferred stock       (368)   (368)
Stock-based compensation       474   474
Net (loss) income         (9,563) (9,563)
Ending balance at Nov. 30, 2023   $ 971   747,472 (862,824) (114,381)
Ending balance (shares) at Nov. 30, 2023 34 971,286        
Treasury stock, shares     443      
Issuance of stock for convertible note repayment   $ 19   2,731   2,750
Issuance of stock for convertible note repayment (in shares)   18,674        
Loss on induced conversion       3,353   3,353
Warrants issued in note offering       179   179
Discount related to private offering modification       137   137
Stock issued for compensation and tendered for income tax       75   75
Stock issued for compensation and tendered for income tax (in shares)   408        
Dividends accrued on Series C and D convertible preferred stock       (369)   (369)
Stock-based compensation       794   794
Net (loss) income         (11,920) (11,920)
Ending balance at Feb. 29, 2024   $ 990   754,372 (874,744) $ (119,382)
Ending balance (shares) at Feb. 29, 2024 34 990,368        
Treasury stock, shares     443      
Treasury stock, shares     443     443
Beginning balance at May. 31, 2024   $ 1,059   773,714 (891,531) $ (116,758)
Beginning balance (shares) at May. 31, 2024 34 1,059,002        
Issuance of stock for convertible note repayment   $ 9   991   1,000
Issuance of stock for convertible note repayment (in shares)   8,777        
Loss on induced conversion       1,180   1,180
Stock issued for tender offer   $ 152   13,874   14,026
Stock issued for tender offer (in shares)   152,505        
Issuance costs related to stock issued for tender offer       (3,649)   (3,649)
Dividends accrued on Series C and D convertible preferred stock       (372)   (372)
Stock-based compensation       136   136
Net (loss) income         19,227 19,227
Ending balance at Aug. 31, 2024   $ 1,220   785,874 (872,304) (85,210)
Ending balance (shares) at Aug. 31, 2024 34 1,220,284        
Beginning balance at May. 31, 2024   $ 1,059   773,714 (891,531) (116,758)
Beginning balance (shares) at May. 31, 2024 34 1,059,002        
Net (loss) income           9,701
Ending balance at Feb. 28, 2025   $ 1,233   787,618 (881,830) (92,979)
Ending balance (shares) at Feb. 28, 2025 34 1,232,591        
Treasury stock, shares     443      
Beginning balance at Aug. 31, 2024   $ 1,220   785,874 (872,304) (85,210)
Beginning balance (shares) at Aug. 31, 2024 34 1,220,284        
Issuance of stock for convertible note repayment   $ 4   416   420
Issuance of stock for convertible note repayment (in shares)   3,233        
Stock-based compensation       537   537
Net (loss) income         (4,768) (4,768)
Ending balance at Nov. 30, 2024   $ 1,224   786,458 (877,072) (89,390)
Ending balance (shares) at Nov. 30, 2024 34 1,223,517        
Treasury stock, shares     443      
Issuance of stock for convertible note repayment   $ 8   1,165   1,173
Issuance of stock for convertible note repayment (in shares)   7,802        
Stock option exercises       21   21
Stock option exercises (in shares)   100        
Stock issued for compensation and tendered for income tax       40   40
Stock issued for compensation and tendered for income tax (in shares)   162        
Stock adjustment   $ (1)       (1)
Stock adjustment (in shares)   (651) (157)      
Exercise of warrants, net of issuance costs   $ 2   (1)   1
Exercise of warrants, net of issuance costs (in shares)   1,661        
Dividend paid in common stock upon conversion of Series C convertible preferred stock ($0.50 per share)       (365)   (365)
Dividends accrued on Series C and D convertible preferred stock       (369)   (369)
Stock-based compensation       300   300
Net (loss) income         (4,758) (4,758)
Ending balance at Feb. 28, 2025   $ 1,233   $ 787,618 $ (881,830) $ (92,979)
Ending balance (shares) at Feb. 28, 2025 34 1,232,591        
Treasury stock, shares     286     286