Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Warrants (Tables)

v3.8.0.1
Stock Options and Warrants (Tables)
 9 Months Ended
Feb. 28, 2018
Estimated Fair Value of Warrants is determined using Black-Scholes Option Valuation Model

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

 

     2017

Expected dividend yield

    0%

Stock price volatility

    61.48%

Expected term

    1 month

Risk-free interest rate

    0.84%

Grant-date fair value

    $0.25
Stock Option and Warrant Activity

The following table represents stock option and warrant activity as of and for the nine months ended February 28, 2018:

 

     Number of
Shares		      Weighted
Average
Exercise Price		      Weighted
Average
Remaining
Contractual Life
in Years		      Aggregate
Intrinsic
Value		  

Options and warrants outstanding—May 31, 2017

      77,859,626      $ 0.86        3.40      $ 40,250  
  

 

 

           

Granted

      60,465,027        0.75        —          —    

Exercised

      (3,295,000 )       0.50        —          —    

Forfeited/expired/cancelled

      (4,572,322 )       0.94        —          —    
  

 

 

           

Options and warrants outstanding—February 28, 2018

      130,457,331        0.80        3.94        5,522,382  
  

 

 

           

Outstanding exercisable—February 28, 2018

      126,763,665      $ 0.80        3.81      $ 5,188,052