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

Accounts Payable and Accrued Liabilities and Compensation

v3.24.0.1
Accounts Payable and Accrued Liabilities and Compensation
6 Months Ended 12 Months Ended
Nov. 30, 2023
May 31, 2023
Accounts Payable and Accrued Liabilities and Compensation    
Accounts Payable and Accrued Liabilities and Compensation

Note 3. Accounts Payable and Accrued Liabilities and Compensation

As of November 30, 2023 and May 31, 2023, the accounts payable balance was approximately $62.3 million and $62.7 million, respectively, with two vendors accounting for 70% and 72% of the total balance of accounts payable at the respective dates.

The components of accrued liabilities and compensation are as follows (in thousands):

November 30, 2023

May 31, 2023

Compensation and related expense

$

228

$

335

Legal fees and settlement

81

168

Clinical expense

346

187

Accrued inventory charges and expenses

 

7,023

 

4,978

License fees

1,330

862

Lease payable

142

139

Total accrued liabilities

$

9,150

$

6,669

Note 5. Accounts Payable and Accrued Liabilities

As of May 31, 2023 and 2022, the accounts payable balance was approximately $62.7 million and $68.0 million, respectively. The Company had two vendors that together accounted for approximately 72% and 73% of the total balance of accounts payable as of each respective date.

The components of accrued liabilities were as follows:

(in thousands)

May 31, 2023

May 31, 2022

Compensation and related expense

$

335

$

1,522

Legal fees and settlement

168

2,006

Clinical expense

187

3,727

Accrued inventory charges and expenses

 

4,978

 

1,392

License fees

862

150

Lease payable

139

134

Other liabilities

64

Total accrued liabilities

$

6,669

$

8,995

As of May 31, 2023 and 2022, the accrued legal fees and settlement balance was primarily related to legal fees.