Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
May 31, 2021
Accounting Policies [Abstract]  
Reconciliation of Liability Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) from inception to the year ended May 31, 2020 (in thousands):

​

​

​

​

Investor warrants issued with registered direct equity offering

    

$

4,360

Placement agent warrants issued with registered direct equity offering

 

​

819

Fair value adjustments

 

​

(3,855)

Balance at May 31, 2018

 

​

1,324

Inception date value of redemption provisions

 

​

2,750

Fair value adjustments—convertible notes

 

​

(745)

Fair value adjustments—warrants

 

​

(922)

Balance at May 31, 2019

​

​

2,407

Fair value adjustments—convertible notes

​

 

(2,005)

Fair value adjustments—warrants

​

 

11,547

Exercise of derivative warrants

​

 

(11,949)

Balance at May 31, 2020

​

$

—

Schedule of securities excluded from computation of earnings per share

​

​

​

​

​

​

​

​

​

​

Years ended May 31,

​

    

2021

​

2020

​

2019

Stock options, warrants & unvested restricted stock

​

82,386

​

131,361

​

178,592

Convertible notes payable

​

18,000

​

3,864

​

11,346

Convertible preferred stock

​

33,008

​

30,130

​

7,974