v3.23.4
Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Nov. 30, 2023
Nov. 30, 2022
Operating expenses:        
General and administrative $ 2,311,000 $ 5,043,000 $ 4,999,000 $ 11,376,000
Research and development 1,079,000 137,000 2,993,000 713,000
Amortization and depreciation 8,000 54,000 18,000 153,000
Inventory charge   17,929,000   20,633,000
Total operating expenses 3,398,000 23,163,000 8,010,000 32,875,000
Operating loss (3,398,000) (23,163,000) (8,010,000) (32,875,000)
Interest and other expenses:        
Interest on convertible notes (1,164,000) (1,159,000) (2,361,000) (2,305,000)
Amortization of discount on convertible notes (142,000) (580,000) (542,000) (1,156,000)
Amortization of debt issuance costs (3,000) (18,000) (369,000) (34,000)
Issuance costs for private placement of shares and warrants through placement agent (Note 5) (906,000)   (906,000)  
Loss on induced conversion (636,000) (638,000) (2,640,000) (638,000)
Finance charges (891,000) (937,000) (1,803,000) (1,877,000)
Loss on note extinguishment (2,406,000)   (4,490,000)  
Gain (loss) on derivatives (17,000)   (13,000) (8,601,000)
Total interest and other expenses (6,165,000) (3,332,000) (13,124,000) (14,611,000)
Loss before income taxes (9,563,000) (26,495,000) (21,134,000) (47,486,000)
Income tax benefit 0 0 0 0
Net loss $ (9,563,000) $ (26,495,000) $ (21,134,000) $ (47,486,000)
Weighted average common shares outstanding, Basic 958,988 813,373 941,191 800,545
Weighted average common shares outstanding, Diluted 958,988 813,373 941,191 800,545
Loss per share, Basic $ (0.01) $ (0.03) $ (0.02) $ (0.07)
Loss per share, Diluted $ (0.01) $ (0.03) $ (0.02) $ (0.07)

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