v3.24.1.u1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Feb. 29, 2024
May 31, 2023
Current assets:    
Cash $ 1,404 $ 2,541
Restricted cash 6,619 6,507
Prepaid expenses 1,349 1,167
Prepaid service fees 538 590
Total current assets 9,910 10,805
Other non-current assets 360 487
Total assets 10,270 11,292
Current liabilities:    
Accounts payable 62,078 62,725
Accrued liabilities and compensation 10,559 6,669
Accrued interest on convertible notes 14,080 10,598
Accrued dividends on convertible preferred stock 6,418 5,308
Convertible notes payable, net 30,169 34,417
Derivative liability - equity instruments 3,493 79
Private placement of shares and warrants 2,679  
Total current liabilities 129,476 119,796
Long-term liabilities:    
Notes payable, net   714
Operating leases 176 283
Total liabilities 129,652 120,793
Commitments and Contingencies (Note 8)
Stockholders' deficit:    
Common stock, $0.001 par value; 1,750,000 shares authorized; 990,368 and 919,053 issued, and 989,925 and 918,610 outstanding at February 29, 2024 and May 31, 2023, respectively 990 919
Treasury stock, $0.001 par value; 443 shares at February 29, 2024 and May 31, 2023
Additional paid-in capital 754,372 731,270
Accumulated deficit (874,744) (841,690)
Total stockholders' deficit (119,382) (109,501)
Total liabilities and stockholders' deficit 10,270 11,292
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 2,976 2,500
Stockholders' deficit:    
Preferred stock
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 3,442 2,808
Stockholders' deficit:    
Preferred stock

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