v3.20.2
Consolidated Balance Sheets
Aug. 31, 2020
USD ($)
May 31, 2020
USD ($)
Current assets:    
Cash $ 18,200,000 $ 14,282,000
Restricted cash 13,000 10,000
Inventories 58,474,000 19,147,000
Prepaid expenses 828,000 498,000
Prepaid service fees 2,361,000 2,890,000
Total current assets 79,876,000 36,827,000
Operating leases right-of-use assets 420,000 176,000
Property and equipment, net 107,000 55,000
Intangibles, net 12,959,000 13,456,000
Total assets 93,362,000 50,514,000
Current liabilities:    
Accounts payable 21,351,000 29,479,000
Accrued liabilities and compensation 34,419,000 6,866,000
Accrued license fees 148,000 13,000
Accrued interest on convertible notes 858,000 292,000
Accrued dividends on convertible preferred stock 1,401,000 981,000
Current portion of operating leases payable 110,000 115,000
Current portion of long-term convertible notes payable 18,124,000 6,745,000
Warrant exercise proceeds held in trust 13,000 10,000
Total current liabilities 76,424,000 44,501,000
Long-term liabilities:    
Convertible notes payable, net 13,856,000 8,431,000
Operating leases liability 314,000 63,000
Total long-term liabilities 14,170,000 8,494,000
Total liabilities 90,594,000 52,995,000
Commitments and Contingencies (Note 10)
Stockholders' (Deficit) Equity    
Common stock, $0.001 par value; 800,000 shares authorized, 570,325 and 519,261 issued and 569,883 and 518,976 outstanding at August 31, 2020 and May 31, 2020, respectively 570,000 519,000
Additional paid-in capital 388,404,000 351,711,000
Accumulated (deficit) (386,206,000) (354,711,000)
Less: treasury stock, $0.001 par value (442 and 286 shares at August 31, 2020 and May 31, 2020, respectively)
Total stockholders' (deficit) equity 2,768,000 (2,481,000)
Total liabilities and stockholders' (deficit) equity 93,362,000 50,514,000
Series B Convertible Preferred Stock    
Stockholders' (Deficit) Equity    
Preferred Stock Value
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 900,000  
Stockholders' (Deficit) Equity    
Preferred Stock Value
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 500,000  
Stockholders' (Deficit) Equity    
Preferred Stock Value

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