Post-effective amendment to a registration statement that is not immediately effective upon filing

Consolidated Statements of Operations

v3.25.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Aug. 31, 2025
Aug. 31, 2024
May 31, 2025
May 31, 2024
Operating expenses:        
General and administrative $ 1,713 $ 1,609 $ 7,260 $ 10,818
Research and development 3,232 (24,046) (16,921) 7,240
Total operating expenses 4,945 (22,437) (9,661) 18,058
Operating (loss) gain (4,945) 22,437 9,661 (18,058)
Interest and other income (expense):        
Interest income 94 126 565 217
Interest on convertible notes (676) (1,165) (4,424) (4,659)
Amortization of discount on convertible notes   (125) (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) (1,180) (6,680)
Finance charges (13) (14) (25) (2,584)
Loss on note extinguishment       (13,374)
Gain on restructuring of payables     407  
Loss on derivatives   (852) (852) (236)
Total interest and other expenses (595) (3,210) (5,916) (31,783)
(Loss) gain before income taxes (5,540) 19,227 3,745 (49,841)
Income tax benefit 0 0 0 0
Net (loss) income $ (5,540) $ 19,227 $ 3,745 $ (49,841)
(Loss) income per share:        
Basic (loss) income per share $ 0 $ 0.02 $ 0 $ (0.05)
Diluted (loss) income per share $ 0 $ 0.02 $ 0 $ (0.05)
Weighted average common shares used in calculation of (loss) income per share:        
Weighted average common shares outstanding, Basic 1,252,551 1,135,043 1,205,755 969,509
Weighted average common shares outstanding, Diluted 1,252,551 1,198,287 1,242,922 969,509