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Note 5. Warrants
Warrants
Warrant activity is presented in the table below:
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Weighted |
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average |
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Weighted |
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remaining |
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Aggregate |
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Number of |
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average |
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contractual |
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intrinsic |
(in thousands, except for share data and years) |
|
shares |
|
exercise price |
|
life in years |
|
value |
Warrants outstanding at May 31, 2025 |
|
213,128 |
|
$ |
0.27 |
|
3.71 |
|
$ |
27,923 |
Granted |
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— |
|
$ |
— |
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Exercised |
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(33) |
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$ |
0.09 |
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|
|
7 |
Forfeited, expired, and cancelled |
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(105) |
|
$ |
3.07 |
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Warrants outstanding at August 31, 2025 |
|
212,990 |
|
$ |
0.26 |
|
3.46 |
|
$ |
18,990 |
Warrants outstanding and exercisable at August 31, 2025 |
|
212,990 |
|
$ |
0.26 |
|
3.46 |
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$ |
18,990 |
Warrant exercises
During the three months ended August 31, 2025, the Company issued approximately 23.1 thousand shares of common stock in connection with the cashless exercise of approximately 32.5 thousand warrants with stated exercise prices of $0.09387 per share.
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