v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Aug. 31, 2021
May 31, 2021
Current assets:    
Cash $ 6,533 $ 33,943
Restricted cash 9  
Accounts receivable 41  
Inventories, net 91,558 93,479
Prepaid expenses 3,381 616
Prepaid service fees 1,264 1,543
Total current assets 102,786 129,581
Operating leases right-of-use asset 665 712
Property and equipment, net 129 134
Intangibles, net 1,390 1,653
Total assets 104,970 132,080
Current liabilities:    
Accounts payable 65,938 65,897
Accrued liabilities and compensation 6,891 19,073
Accrued interest on convertible notes 2,244 2,007
Accrued dividends on convertible preferred stock 3,067 2,647
Operating leases liabilities 162 175
Current portion of long-term convertible notes payable 51,333 62,747
Warrant exercise proceeds held in escrow 9  
Total current liabilities 129,644 152,546
Long-term liabilities:    
Operating leases liabilities 519 552
Total long-term liabilities 519 552
Total liabilities 130,163 153,098
Commitments and Contingencies (Note 9)
Stockholders' (Deficit) Equity    
Preferred stock, value
Common stock, $0.001 par value; 800,000 shares authorized, 644,120 and 626,123 issued and 643,677 and 625,680 outstanding at August 31, 2021 and May 31, 2021, respectively 644 626
Additional paid-in capital 516,816 489,650
Accumulated (deficit) (542,653) (511,294)
Total stockholders' (deficit) equity (25,193) (21,018)
Total liabilities and stockholders' (deficit) equity 104,970 132,080
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 1,700 1,500
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock $ 1,300 $ 1,100

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