v3.19.2
Consolidated Statements of Operations - USD ($)
12 Months Ended
May 31, 2019
May 31, 2018
May 31, 2017
Operating expenses:      
General and administrative $ 12,116,743 $ 7,340,605 $ 6,758,606
Research and development 42,490,144 38,222,580 20,205,743
Amortization and depreciation 1,245,167 356,128 366,385
Total operating expenses 55,852,054 45,919,313 27,330,734
Operating loss (55,852,054) (45,919,313) (27,330,734)
Other income (expense):      
Interest income 4,306 3,620 15,167
Change in fair value of derivative liability 1,666,469 1,690,935 2,164,533
Loss on extinguishment of convertible notes (1,519,603) 0 0
Interest expense:      
Amortization of discount on convertible notes (1,707,068) (1,666,017) 0
Amortization of debt issuance costs (459,085) (435,609) 0
Interest related to derivative liability 0 0 (540,330)
Inducement interest related to warrant tender offer (195,927) (393,685) 0
Inducement interest related to warrant extension 0 (826,252) (72,437)
Inducement interest related to convertible notes 0 (2,352,045) 0
Interest on convertible notes payable (950,617) (251,315) 0
Total interest expense (3,312,697) (5,924,923) (612,767)
Loss before income taxes (59,013,579) (50,149,681) (25,763,801)
Income tax benefit 2,826,919 0 0
Net loss $ (56,186,660) $ (50,149,681) $ (25,763,801)
Basic and diluted loss per share $ (0.21) $ (0.29) $ (0.19)
Basic and diluted weighted average common shares outstanding 272,040,933 174,885,422 138,004,461

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