Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v2.4.1.9
Consolidated Statements of Operations (USD $)
3 Months Ended 6 Months Ended
Nov. 30, 2014
Nov. 30, 2013
Nov. 30, 2014
Nov. 30, 2013
Operating expenses:        
General and administrative $ 660,367us-gaap_GeneralAndAdministrativeExpense $ 772,809us-gaap_GeneralAndAdministrativeExpense $ 1,324,873us-gaap_GeneralAndAdministrativeExpense $ 1,339,478us-gaap_GeneralAndAdministrativeExpense
Amortization and depreciation 90,127us-gaap_DepreciationAndAmortization 87,924us-gaap_DepreciationAndAmortization 180,040us-gaap_DepreciationAndAmortization 175,620us-gaap_DepreciationAndAmortization
Research and development 2,087,323us-gaap_ResearchAndDevelopmentExpense 542,765us-gaap_ResearchAndDevelopmentExpense 4,150,467us-gaap_ResearchAndDevelopmentExpense 731,952us-gaap_ResearchAndDevelopmentExpense
Legal fees 153,863us-gaap_LegalFees 197,425us-gaap_LegalFees 290,884us-gaap_LegalFees 354,814us-gaap_LegalFees
Total operating expenses 2,991,680us-gaap_OperatingExpenses 1,600,923us-gaap_OperatingExpenses 5,946,264us-gaap_OperatingExpenses 2,601,864us-gaap_OperatingExpenses
Operating loss (2,991,680)us-gaap_OperatingIncomeLoss (1,600,923)us-gaap_OperatingIncomeLoss (5,946,264)us-gaap_OperatingIncomeLoss (2,601,864)us-gaap_OperatingIncomeLoss
Interest income 556us-gaap_InvestmentIncomeInterest 2,209us-gaap_InvestmentIncomeInterest 1,688us-gaap_InvestmentIncomeInterest 2,394us-gaap_InvestmentIncomeInterest
Gain on settlement of accounts payable   5,541us-gaap_GainLossOnNonRecourseDebt   13,946us-gaap_GainLossOnNonRecourseDebt
Change in fair value of derivative liability (805,575)us-gaap_GainLossOnDerivativeInstrumentsNetPretax   (805,575)us-gaap_GainLossOnDerivativeInstrumentsNetPretax  
Interest expense:        
Amortization of discount on convertible note (688,465)us-gaap_AmortizationOfDebtDiscountPremium (1,595,004)us-gaap_AmortizationOfDebtDiscountPremium (1,044,340)us-gaap_AmortizationOfDebtDiscountPremium (3,047,401)us-gaap_AmortizationOfDebtDiscountPremium
Amortization of discount on related party convertible note (60,699)us-gaap_InterestExpenseRelatedParty   (60,699)us-gaap_InterestExpenseRelatedParty  
Amortization of debt issuance costs   (96,668)us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts   (116,668)us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts
Inducement interest (353,333)us-gaap_InducedConversionOfConvertibleDebtExpense (193,160)us-gaap_InducedConversionOfConvertibleDebtExpense (353,333)us-gaap_InducedConversionOfConvertibleDebtExpense (193,160)us-gaap_InducedConversionOfConvertibleDebtExpense
Interest on notes payable (84,718)us-gaap_InterestExpenseDebt (109,588)us-gaap_InterestExpenseDebt (154,911)us-gaap_InterestExpenseDebt (218,391)us-gaap_InterestExpenseDebt
Total interest expense (1,187,215)us-gaap_InterestExpense (1,994,420)us-gaap_InterestExpense (1,613,283)us-gaap_InterestExpense (3,575,620)us-gaap_InterestExpense
Loss before income taxes (4,983,914)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (3,587,593)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (8,363,434)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (6,161,144)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for taxes on income 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit
Net loss $ (4,983,914)us-gaap_NetIncomeLoss $ (3,587,593)us-gaap_NetIncomeLoss $ (8,363,434)us-gaap_NetIncomeLoss $ (6,161,144)us-gaap_NetIncomeLoss
Basic and diluted loss per share $ (0.09)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.08)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.15)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.16)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
Basic and diluted weighted average common shares outstanding 56,276,630us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 44,982,452us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 56,013,134us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 38,038,949us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted