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

Subsequent Events

v3.25.2
Subsequent Events
12 Months Ended
May 31, 2025
Subsequent Events  
Subsequent Events

Note 13. Subsequent Events

Note conversions

In June and July 2025, in satisfaction of the required monthly payments, the Company and the April 23, 2021 Noteholder entered into exchange agreements, pursuant to which portions of the April 23, 2021 Note were partitioned into new notes with an aggregate principal amount of $1.5 million, which were exchanged concurrently for approximately 4.7 million shares.