v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Nov. 30, 2019
Nov. 30, 2018
Cash flows from operating activities:    
Net loss $ (31,024,467) $ (28,718,950)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 1,031,081 243,772
Amortization of debt issuance costs 404,340 19,589
Amortization of discount on convertible notes 1,469,625 117,534
Inducement interest related to warrant exercise and debt conversion 2,713,014 0
Interest expense associated with accretion of convertible notes payable 687,749 0
Change in fair value of derivative liabilities (828,499) 466,412
Stock-based compensation 1,014,972 1,510,486
Loss on extinguishment of convertible note 0 1,519,603
Deferred income tax benefit 0 (2,826,919)
Changes in current assets and liabilities:    
(Increase) decrease in miscellaneous receivables 86,324 0
(Increase) decrease in prepaid expenses (228,113) (1,807,629)
Increase in accounts payable and accrued expenses 2,699,053 3,283,113
Net cash used in operating activities (21,974,921) (26,192,989)
Cash flows from investing activities:    
Furniture and equipment purchases (13,532) (2,262)
Net cash used in investing activities (13,532) (2,262)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 6,665,300 23,463,585
Proceeds from sale of preferred stock 4,542,000 0
Proceeds from warrant exercises 11,900,260 0
Proceeds from registered direct financing held in trust 790,999 0
Principal paid on maturity of short term convertible notes (460,000)
Convertible note redemptions paid in cash (850,000)
Exercise of option to repurchase shares held in escrow (8,342)
Release of funds held in trust for warrant tender offer (853,599) 0
Proceeds from convertible note payable, net 0 5,000,000
Payment of offering costs (2,004,223) (2,727,418)
Net cash provided by financing activities 19,722,395 25,736,167
Net change in cash (2,266,058) (459,084)
Cash, beginning of period 3,466,509 1,231,445
Cash, end of period 1,200,451 772,361
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 255,489 0
Non-cash investing and financing transactions:    
Common stock issued for conversion redemption 1,530,000 0
Dividends accrued on Series C convertible preferred stock 261,010 0
Accrued interest converted into note payable 153,877 225,245
Debt discount associated with convertible notes payable 0 700,000
Common stock issued for acquisition of ProstaGene, LLC 0 11,558,000
Derivative liability associated a convertible note payable 0 1,284,998
Conversion of interest and principal of short-term convertible notes to common stock $ 214,959 $ 0

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