v3.19.3.a.u2
Consolidated Balance Sheets
Nov. 30, 2019
USD ($)
May 31, 2019
USD ($)
Current assets:    
Cash $ 409,452 $ 2,612,910
Restricted cash 0 853,599
Miscellaneous receivables 4,500 90,824
Prepaid expenses 623,687 107,211
Prepaid service fees 1,416,513 1,704,876
Total current assets 3,245,151 5,369,420
Operating lease right-of-use assets 184,665 0
Property, plant and equipment 37,118 29,251
Intangibles, net 14,450,038 15,475,454
Total assets 17,916,972 20,874,125
Current liabilities:    
Accounts payable 18,653,807 16,239,434
Accrued liabilities and compensation 1,143,859 1,588,552
Accrued license fees 910,400 208,600
Accrued interest on convertible notes 70,186 212,777
Convertible notes payable, net 4,953,876 3,586,035
Current portion of operating leases payable 106,827 0
Current portion of long term convertible notes payable 2,773,726 4,200,000
Registered direct offer proceeds held in trust 790,999 0
Warrant tender offer proceeds held in trust 0 853,599
Total current liabilities 29,702,044 26,926,348
Long-term liabilities:    
Convertible notes payable, net 188,591 454,568
Operating lease liability 79,164 0
Derivative liability 1,578,770 2,407,269
Total long-term liabilities 1,846,525 2,861,837
Total liabilities 31,548,569 29,788,185
Commitments and Contingencies 0 0
Stockholders' (Deficit) Equity    
Common stock, $0.001 par value; 700,000,000 shares authorized, 399,156,340 and 329,554,763 issued and 398,997,329 and 329,395,752 outstanding at November 30, 2019 and May 31, 2019, respectively 399,316 329,555
Additional paid-in capital 246,618,030 220,119,856
Accumulated (deficit) (260,648,884) (229,363,407)
Less: treasury stock, at par (159,011 shares at $0.001) (159) (159)
Total stockholders' (deficit) (13,631,597) (8,914,060)
Total liabilities and stockholders' (deficit) equity 17,916,972 20,874,125
Series B Convertible Preferred Stock    
Stockholders' (Deficit) Equity    
Preferred Stock Value 92 92
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on Series C convertible preferred stock 298,364 37,351
Stockholders' (Deficit) Equity    
Preferred Stock Value $ 8 $ 3

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