v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2025
May 31, 2025
Current assets:    
Cash and cash equivalents $ 4,982 $ 11,903
Prepaid expenses 560 252
Prepaid service fees 3,297 3,723
Other receivables   2,000
Total current assets 8,839 17,878
Other non-current assets 96 169
Total assets 8,935 18,047
Current liabilities:    
Accounts payable 14,245 14,692
Accrued liabilities and compensation 19,685 2,206
Accrued interest on convertible notes 14,971 18,151
Accrued dividends on convertible preferred stock 9,011 8,269
Convertible notes payable, net 27,200 27,200
Total current liabilities 85,112 70,518
Other liabilities (Note 10) 43,571 43,571
Total liabilities 128,683 114,089
Commitments and Contingencies (Note 10)
Stockholders' deficit:    
Common stock, $0.001 par value; 2,250,000 shares authorized; 1,266,139 and 1,249,460 issued, and 1,265,853 and 1,249,174 outstanding at November 30, 2025 and May 31, 2025, respectively 1,266 1,249
Treasury stock, $0.001 par value; 286 shares at November 30, 2025 and May 31, 2025
Additional paid-in capital 794,919 790,495
Accumulated deficit (915,933) (887,786)
Total stockholders' deficit (119,748) (96,042)
Total liabilities and stockholders' deficit 8,935 18,047
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 4,087 3,769
Stockholders' deficit:    
Preferred stock
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 4,924 4,500
Stockholders' deficit:    
Preferred stock

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