Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Feb. 28, 2023
May 31, 2022
Current assets:    
Cash $ 5,112 $ 4,231
Restricted cash 5,998  
Prepaid expenses 2,411 5,198
Prepaid service fees 589 1,086
Total current assets 14,110 10,515
Inventories, net   17,929
Other non-current assets 532 741
Total assets 14,642 29,185
Current liabilities:    
Accounts payable 62,667 67,974
Accrued liabilities and compensation 8,298 8,995
Accrued interest on convertible notes 9,421 5,974
Accrued dividends on convertible preferred stock 4,935 3,977
Convertible notes payable, net 36,013 36,241
Total current liabilities 121,334 123,161
Long-term liabilities:    
Operating leases 318 422
Total liabilities 121,652 123,583
Commitments and Contingencies (Note 9)
Stockholders' deficit:    
Common stock, $0.001 par value; 1,350,000 shares authorized; 837,031 and 720,028 issued, and 836,588 and 719,585 outstanding at February 28, 2023 and May 31, 2022, respectively 837 720
Treasury stock, $0.001 par value; 443 at February 28, 2023 and May 31, 2022
Additional paid-in capital 715,207 671,013
Accumulated deficit (823,054) (766,131)
Total stockholders' deficit (107,010) (94,398)
Total liabilities and stockholders' deficit 14,642 29,185
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 2,341 2,014
Stockholders' deficit:    
Preferred stock
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 2,594 1,963
Stockholders' deficit:    
Preferred stock