v3.21.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Nov. 30, 2021
Aug. 31, 2021
Feb. 28, 2021
Nov. 30, 2020
Aug. 31, 2020
Nov. 30, 2021
Nov. 30, 2020
Feb. 28, 2021
May 31, 2021
May 31, 2020
Cash flows from operating activities:                    
Net loss $ (36,604) $ (31,458) $ (45,206) $ (35,425) $ (30,832) $ (68,062) $ (66,257) $ (111,463) $ (157,230) $ (139,936)
Adjustments to reconcile net loss to net cash used in operating activities:                    
Amortization and depreciation 252     506   528 1,011      
Amortization of debt issuance costs 23     15   51 19      
Amortization of discount on convertible notes 793     1,243   1,745 2,582      
Non-cash warrant issuance cost for legal settlement           1,744        
Inventory reserve and write-offs       4,800   3,357 4,835      
Inducement interest expense, debt 4,704 528 5,360 4,217   5,232 7,562 12,922 13,922 23,437
Stock-based compensation           4,657 7,115      
Loss on extinguishment of convertible notes 3,312     4,169   7,963 4,169      
Intangible asset impairment charge     10,000              
Changes in operating assets and liabilities:                    
(Increase) in accounts receivable           (225)        
(Increase) in inventories           1,565 (84,759)      
Decrease (increase) in prepaid expenses           (1,994) 1,072      
Increase in accounts payable and accrued expenses           (17,193) 61,532      
Net cash used by operating activities           (60,632) (61,119)      
Cash flows from investing activities:                    
Furniture and equipment purchases           (13) (77)      
Net cash used in investing activities           (13) (77)      
Cash flows from financing activities:                    
Proceeds from warrant transactions, net of offering costs           5,390 12,035      
Proceeds from sale of common stock and warrants, net of issuance costs           28,761 1,000      
Proceeds from warrant exercises           1,036 15,209      
Payment on convertible notes             (950)      
Release of restricted cash held in trust for warrant tender offer             (10)      
Proceeds from stock option exercises           390 48      
Payment of payroll withholdings related to tender of common stock for income tax withholding             (778)      
Proceeds from convertible notes payable, net             50,000      
Dividend declared and paid on Series B preferred stock             (243)      
Net cash provided by financing activities           35,577 76,311      
Net change in cash           (25,068) 15,115      
Cash and restricted cash, beginning of period   $ 33,943 $ 29,407   $ 14,292 33,943 14,292 $ 14,292 14,292  
Cash and restricted cash, end of period 8,875     29,407   8,875 29,407   33,943 14,292
Cash and restricted cash consisted of the following:                    
Cash 8,875     29,407   8,875 29,407   33,943  
Cash and restricted cash, total $ 8,875     $ 29,407   8,875 29,407   $ 33,943 $ 14,292
Supplemental disclosure of cash flow information:                    
Cash paid during the period for interest           57 138      
Non-cash investing and financing transactions:                    
Issuance of stock for principal and interest of convertible notes, net           22,045 16,922      
Accrued dividends on convertible preferred stock           834 $ 835      
Dividend declared and paid in common stock on Series B preferred stock           $ 17        

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