Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
May 31, 2025
May 31, 2024
Operating expenses:    
General and administrative $ 7,260 $ 10,818
Research and development (16,921) 7,240
Total operating expenses (9,661) 18,058
Operating gain (loss) 9,661 (18,058)
Interest and other income (expense):    
Interest income 565 217
Interest on convertible notes (4,424) (4,659)
Amortization of discount on convertible notes (407) (1,076)
Amortization of debt issuance costs   (572)
Issuance costs for private placement of shares and warrants through placement agent   (2,819)
Loss on induced conversion (1,180) (6,680)
Finance charges (25) (2,584)
Loss on note extinguishment   (13,374)
Gain on restructuring of payables 407  
Loss on derivatives (852) (236)
Total interest and other income (expense) (5,916) (31,783)
Gain (loss) before income taxes 3,745 (49,841)
Income tax benefit 0 0
Net income (loss) $ 3,745 $ (49,841)
Income (loss) per share:    
Basic income (loss) per share $ 0 $ (0.05)
Diluted income (loss) per share $ 0 $ (0.05)
Weighted average common shares used in calculation of (loss) income per share:    
Weighted average common shares outstanding, Basic 1,205,755 969,509
Weighted average common shares outstanding, Diluted 1,242,922 969,509