Annual report pursuant to Section 13 and 15(d)

Registered Direct Equity Offerings (Tables)

v3.7.0.1
Registered Direct Equity Offerings (Tables)
12 Months Ended
May 31, 2017
Summary of Cash Proceeds of Offering

A summary of the cash proceeds of the offering is as follows:

 

Gross proceeds from sale of common stock

   $ 10,000,000  

Placement agent fees and expenses

     1,010,000  
  

 

 

 

Total net proceeds

   $ 8,990,000  
  

 

 

 
Summary of ASC 480 Allocation of Proceeds of Offering

A summary of the ASC 480 allocation of the proceeds of the offering is as follows:

 

Allocated to common stock and additional paid in capital

   $ 6,334,417  

Allocated to warrant liabilities

     2,655,583  
  

 

 

 

Total net proceeds

   $ 8,990,000