v3.20.2
Consolidated Statements of Operations - USD ($)
12 Months Ended
May 31, 2020
May 31, 2019
May 31, 2018
Operating expenses:      
General and administrative $ 19,972,804 $ 12,116,743 $ 7,340,605
Research and development 52,639,981 42,490,144 38,222,580
Amortization and depreciation 2,034,440 1,245,167 356,128
Total operating expenses 74,647,225 55,852,054 45,919,313
Operating loss (74,647,225) (55,852,054) (45,919,313)
Other income (expense):      
Other income 500,000    
Interest income 5,318 4,306 3,620
Change in fair value of derivative liabilities (9,541,704) 1,666,469 1,690,935
Loss on extinguishment of convertible note 0 (1,519,603) 0
Legal settlement (22,500,000)    
Interest expense:      
Finance charges (935,630)    
Amortization of discount on convertible notes (1,644,625) (1,707,068) (1,666,017)
Amortization of debt issuance costs (404,340) (459,085) (435,609)
Inducement interest (7,904,353) (195,927) (3,571,982)
Interest on convertible note payable (7,330,843) (950,617) (251,315)
Total interest expense (18,219,791) (3,312,697) (5,924,923)
Loss before income taxes (124,403,402) (59,013,579) (50,149,681)
Income tax benefit 0 2,826,919 0
Net loss $ (124,403,402) $ (56,186,660) $ (50,149,681)
Basic and diluted loss per share $ (0.30) $ (0.21) $ (0.29)
Basic and diluted weighted average common shares outstanding 421,077,605 272,040,933 174,885,422

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