General form of registration statement for all companies including face-amount certificate companies

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2023
Aug. 31, 2023
May 31, 2023
Nov. 30, 2022
Aug. 31, 2022
May 31, 2022
May 31, 2021
Current assets:              
Cash $ 147   $ 2,541 $ 2,403   $ 4,231  
Restricted cash 6,577   6,507 200      
Prepaid expenses 1,578   1,167     5,198  
Prepaid service fees 538   590     1,086  
Total current assets 8,840   10,805     10,515  
Inventories, net           17,929  
Other non-current assets 400   487     741  
Total assets 9,240   11,292     29,185  
Current liabilities:              
Accounts payable 62,328   62,725     67,974  
Accrued liabilities and compensation 9,150   6,669     8,995  
Accrued interest on convertible notes 12,936   10,598     5,974  
Accrued dividends on convertible preferred stock 6,049   5,308     3,977  
Convertible notes payable, net 32,914   34,417     36,241  
Derivative liability - equity instruments 33   79        
Total current liabilities 123,410   119,796     123,161  
Long-term liabilities:              
Notes payable, net     714        
Operating leases 211   283     422  
Total liabilities 123,621   120,793     123,583  
Commitments and Contingencies (Note 8)        
Stockholders' deficit:              
Preferred stock          
Common stock, $0.001 par value; 1,750,000 shares authorized; 971,729 and 919,053 issued, and 971,286 and 918,610 outstanding at November 30, 2023 and May 31, 2023, respectively 971   919     720  
Treasury stock, $0.001 par value; 443 shares at November 30, 2023 and May 31, 2023        
Additional paid-in capital 747,472   731,270     671,013  
Accumulated deficit (862,824)   (841,690)     (766,131)  
Total stockholders' deficit (114,381) $ (116,889) (109,501) $ (115,969) $ (94,312) (94,398) $ (21,018)
Total liabilities and stockholders' deficit 9,240   11,292     29,185  
Series B Convertible Preferred Stock              
Stockholders' deficit:              
Preferred stock        
Series C Convertible Preferred Stock              
Current liabilities:              
Accrued dividends on convertible preferred stock 2,818   2,500     2,014  
Stockholders' deficit:              
Preferred stock        
Series D Convertible Preferred Stock              
Current liabilities:              
Accrued dividends on convertible preferred stock 3,231   2,808     1,963  
Stockholders' deficit:              
Preferred stock