Quarterly report pursuant to Section 13 or 15(d)

Convertible Instruments (Tables)

v3.8.0.1
Convertible Instruments (Tables)
9 Months Ended
Feb. 28, 2018
Activity Related to Notes

Activity related to the Notes was as follows:

 

     February 28, 2018      May 31, 2017  

Face amount of Notes

   $ 6,038,500      $ 1,150,000  

Unamortized discount

     —          (92,000

Unamortized issuance costs

     —          —    

Registered direct offering

     (5,788,500      —    

Note repayment

     (250,000      —    
  

 

 

    

 

 

 

Carrying value of Notes, net

   $ —        $ 1,058,000  
  

 

 

    

 

 

 
Investor Warrants  
Weighted Average Assumptions to Value Investor Warrants

The Company determined the fair value of the warrants at issuance using the Black-Scholes option pricing model utilizing certain weighted average assumptions, such as expected stock price volatility, expected term of the warrants, risk-free interest rates and expected dividend yield at the grant date.

 

     2017

Expected dividend yield

   0%

Stock price volatility

   69.5 - 69.80%

Expected term

   5 year

Risk-free interest rate

   1.75 - 1.83%

Grant-date fair value

   $0.28 - $0.39