General form of registration statement for all companies including face-amount certificate companies

Stock Options and Warrants (Tables)

v2.4.0.8
Stock Options and Warrants (Tables)
 6 Months Ended 12 Months Ended
Nov. 30, 2013
May 31, 2013
Estimated Fair Value of Options and Warrants is determined using Black-Scholes Option Valuation Model  

The estimated fair value of options and warrants is determined using the Black-Scholes option valuation model with the following weighted-average assumptions for the periods ended May 31, 2013 and 2012:

 

     2013    2012

Risk free rate

    0.12% - 0.70%    0.12% -.87%

Dividend yield

    —      —  

Volatility

    87% - 102%    93% - 102%

Expected term

    1 - 4 years    1 - 4 years
Stock Option and Warrant Activity

The following table represents stock option and warrant activity as of and for the six months ended November 30, 2013:

 

     Number of
Shares		     Weighted
Average
Exercise Price		      Weighted
Average
Remaining
Contractual
Life in Years		      Aggregate
Intrinsic Value		  

Options and warrants outstanding – May 31, 2013

      18,146,938      $ 1.65         1.86       $ 140,321   

Granted

      17,848,540      $ 0.74         

Exercised

      (50,000 )    $ 1.00         

Forfeited/expired/cancelled

      (1,578,645 )    $ 1.40         
  

 

 

          

Options and warrants outstanding – November 30, 2013

      34,366,833      $ 1.19         3.47       $ 10,474,005   
  

 

 

          

Outstanding exercisable – November 30, 2013

      32,570,497      $ 1.19         3.46       $ 9,902,708   
  

 

 

    

The following table represents stock option and warrants activity for the periods ended May 31, 2013 and 2012:

 

     Number of
Shares		     Weighted
Average
Exercise Price		      Weighted
Average
Remaining
Contractual
Life		      Aggregate
Intrinsic Value		  

Options and warrants outstanding - May 31, 2011

      7,473,576      $ 1.34         3.84       $ 10,495,913   
  

 

 

    

 

 

     

 

 

     

 

 

  

Granted

      3,456,088      $ 2.04         —          —    

Exercised

      (527,500 )    $ .62         —          —    

Forfeited/expired/cancelled

      (74,500 )    $ 2.49         —          —    
  

 

 

    

 

 

     

 

 

     

 

 

  

Options and warrants outstanding - May 31, 2012

      10,327,664      $ 1.60         3.20       $ 2,308,279   

Granted

      11,166,274      $ 1.61         —          —    

Exercised

      (780,000 )    $ 0.26         —          —    

Forfeited/expired/cancelled

      (2,567,000 )    $ 1.73         —          —    
  

 

 

    

 

 

     

 

 

     

 

 

  

Options and warrants outstanding - May 31, 2013

      18,146,938      $ 1.65         1.86       $ 140,321   
  

 

 

    

 

 

     

 

 

     

 

 

  

Exercisable - May 31, 2013

      16,253,188      $ 1.68         1.65       $ 140,321