v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2026
May 31, 2025
Current assets:    
Cash and cash equivalents $ 11,852 $ 11,903
Prepaid expenses 750 252
Prepaid service fees 1,276 3,723
Other receivables 0 2,000
Total current assets 13,878 17,878
Other non-current assets 95 169
Total assets 13,973 18,047
Current liabilities:    
Accounts payable 13,155 14,692
Accrued liabilities and compensation 18,925 2,206
Accrued interest on convertible notes 11,140 18,151
Accrued dividends on convertible preferred stock 9,647 8,269
Current portion of long-term convertible notes payable 860 27,200
Total current liabilities 53,727 70,518
Long-term liabilities:    
Convertible notes payable 26,340 0
Operating leases 53 0
Other liabilities (Note 10) 43,571 43,571
Total liabilities 123,691 114,089
Commitments and Contingencies (Note 10)
Stockholders' deficit:    
Common stock, $0.001 par value; 2,250,000 shares authorized; 1,373,803 and 1,249,460 issued, and 1,373,517 and 1,249,174 outstanding at May 31, 2026 and May 31, 2025, respectively 1,374 1,249
Treasury stock $0.001 par value 286 shares at May 31 2026 and May 31 2025 0 0
Additional paid-in capital 819,393 790,495
Accumulated deficit (930,485) (887,786)
Total stockholders' deficit (109,718) (96,042)
Total liabilities and stockholders' deficit 13,973 18,047
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock 0 0
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 4,302 3,769
Stockholders' deficit:    
Preferred stock 0 0
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 5,345 4,500
Stockholders' deficit:    
Preferred stock $ 0 $ 0

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