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 9 Months Ended
Feb. 28, 2015
Feb. 28, 2014
Feb. 28, 2015
Feb. 28, 2014
Operating expenses:        
General and administrative $ 750,648us-gaap_GeneralAndAdministrativeExpense $ 915,970us-gaap_GeneralAndAdministrativeExpense $ 2,075,521us-gaap_GeneralAndAdministrativeExpense $ 2,255,448us-gaap_GeneralAndAdministrativeExpense
Amortization and depreciation 90,157us-gaap_DepreciationAndAmortization 88,072us-gaap_DepreciationAndAmortization 270,197us-gaap_DepreciationAndAmortization 263,692us-gaap_DepreciationAndAmortization
Research and development 2,264,064us-gaap_ResearchAndDevelopmentExpense 1,655,914us-gaap_ResearchAndDevelopmentExpense 6,414,531us-gaap_ResearchAndDevelopmentExpense 2,387,866us-gaap_ResearchAndDevelopmentExpense
Legal fees 187,582us-gaap_LegalFees 215,611us-gaap_LegalFees 478,466us-gaap_LegalFees 570,425us-gaap_LegalFees
Total operating expenses 3,292,451us-gaap_OperatingExpenses 2,875,567us-gaap_OperatingExpenses 9,238,715us-gaap_OperatingExpenses 5,477,431us-gaap_OperatingExpenses
Operating loss (3,292,451)us-gaap_OperatingIncomeLoss (2,875,567)us-gaap_OperatingIncomeLoss (9,238,715)us-gaap_OperatingIncomeLoss (5,477,431)us-gaap_OperatingIncomeLoss
Interest income 338us-gaap_InvestmentIncomeInterest 3,197us-gaap_InvestmentIncomeInterest 2,026us-gaap_InvestmentIncomeInterest 5,591us-gaap_InvestmentIncomeInterest
Gain on settlement of accounts payable   97,253us-gaap_GainLossOnNonRecourseDebt   111,199us-gaap_GainLossOnNonRecourseDebt
Change in fair value of derivative liability 1,261,545us-gaap_GainLossOnDerivativeInstrumentsNetPretax   455,970us-gaap_GainLossOnDerivativeInstrumentsNetPretax  
Interest expense:        
Amortization of discount on convertible notes (254,485)us-gaap_AmortizationOfDebtDiscountPremium (402,467)us-gaap_AmortizationOfDebtDiscountPremium (1,298,825)us-gaap_AmortizationOfDebtDiscountPremium (3,449,868)us-gaap_AmortizationOfDebtDiscountPremium
Amortization of discount on related party convertible notes (143,012)us-gaap_InterestExpenseRelatedParty   (203,711)us-gaap_InterestExpenseRelatedParty  
Amortization of debt issuance costs   (3,332)us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts   (120,000)us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts
Inducement interest (202,295)us-gaap_InducedConversionOfConvertibleDebtExpense   (555,628)us-gaap_InducedConversionOfConvertibleDebtExpense (193,160)us-gaap_InducedConversionOfConvertibleDebtExpense
Interest on notes payable (91,293)us-gaap_InterestExpenseDebt (93,481)us-gaap_InterestExpenseDebt (246,204)us-gaap_InterestExpenseDebt (505,032)us-gaap_InterestExpenseDebt
Total interest expense (691,085)us-gaap_InterestExpense (499,280)us-gaap_InterestExpense (2,304,368)us-gaap_InterestExpense (4,074,900)us-gaap_InterestExpense
Loss before income taxes (2,721,653)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (3,274,397)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (11,085,087)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (9,435,541)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for taxes on income 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit 0us-gaap_IncomeTaxExpenseBenefit
Net loss $ (2,721,653)us-gaap_NetIncomeLoss $ (3,274,397)us-gaap_NetIncomeLoss $ (11,085,087)us-gaap_NetIncomeLoss $ (9,435,541)us-gaap_NetIncomeLoss
Basic and diluted loss per share $ (0.05)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.06)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.19)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.22)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
Basic and diluted weighted average common shares outstanding 58,961,254us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 55,472,263us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 56,985,042us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 43,786,195us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted