Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Aug. 31, 2016
May 31, 2016
Current assets:    
Cash $ 4,444,259 $ 9,641,776
Prepaid expenses 276,504 141,714
Prepaid clinical service fees 2,369,321 1,710,852
Total current assets 7,090,084 11,494,342
Furniture and equipment, net 22,946 24,550
Intangibles, net 2,179,739 2,267,239
Total Assets 9,292,769 13,786,131
Current liabilities:    
Accounts payable 2,914,513 2,467,973
Accrued liabilities and salaries 58,125 242,708
Accrued license fee 66,800 870,000
Total current liabilities 3,039,438 3,580,681
Total Liabilities 3,039,438 3,580,681
Stockholders' equity    
Series B convertible preferred stock, $0.001 par value; 400,000 shares authorized, 95,100 shares issued and outstanding at August 31, 2016 and May 31, 2016, respectively 95 95
Common stock, $0.001 par value; 350,000,000 and 250,000,000 shares authorized, 124,883,821 and 123,335,634 issued and outstanding at August 31, 2016 and May 31, 2016, respectively 124,864 123,336
Additional paid-in capital 108,708,671 107,307,933
Accumulated (deficit) (102,580,299) (97,225,914)
Total stockholders' equity 6,253,331 10,205,450
Total liabilities and stockholders' equity $ 9,292,769 $ 13,786,131