v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Feb. 28, 2022
May 31, 2021
Current assets:    
Cash $ 1,363 $ 33,943
Restricted cash 1,000  
Inventories, net 82,668 93,479
Prepaid expenses 6,135 616
Prepaid service fees 1,183 1,543
Total current assets 92,349 129,581
Operating leases - right-of-use asset 570 712
Property and equipment, net 117 134
Intangibles, net 1,043 1,653
Total assets 94,079 132,080
Current liabilities:    
Accounts payable 62,393 65,897
Accrued liabilities and compensation 9,418 19,073
Accrued interest on convertible notes 4,857 2,007
Accrued dividends on convertible preferred stock 3,635 2,647
Operating leases 136 175
Convertible notes payable, net 35,647 62,747
Total current liabilities 116,086 152,546
Long-term liabilities:    
Long-term liabilities - operating leases 453 552
Total liabilities 116,539 153,098
Commitments and Contingencies (Note 10)
Stockholders' (deficit) equity:    
Preferred stock
Common stock, $0.001 par value; 1,000,000 shares authorized; 713,730 and 626,123 issued, and 713,287 and 625,680 outstanding at February 28, 2022 and May 31, 2021, respectively 713 626
Additional paid-in capital 612,905 512,796
Accumulated deficit (636,078) (534,440)
Treasury stock, $0.001 par value; 443 at February 28, 2022 and May 31, 2021
Total stockholders' deficit (22,460) (21,018)
Total liabilities and stockholders' equity 94,079 132,080
Series B Convertible Preferred Stock    
Stockholders' (deficit) equity:    
Preferred stock
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 1,886 1,530
Stockholders' (deficit) equity:    
Preferred stock
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 1,749 1,117
Stockholders' (deficit) equity:    
Preferred stock

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