Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Changes in Stockholders' Deficit

v3.25.4
Consolidated Statement of Changes in Stockholders' Deficit - USD ($)
shares in Thousands, $ in Thousands
Preferred stock
Common stock
Treasury stock
Additional paid-in capital
Accumulated deficit
Total
Beginning balance at May. 31, 2024   $ 1,059   $ 773,714 $ (891,531) $ (116,758)
Beginning balance (shares) at May. 31, 2024 34 1,059,002        
Beginning balance treasury stock (shares) at May. 31, 2024     443      
Issuance of stock for convertible note repayment   $ 9   991   1,000
Issuance of stock for convertible note repayment (in shares)   8,777        
Loss on induced conversion       1,180   1,180
Stock issued for tender offer   $ 152   13,874   14,026
Stock issued for tender offer (in shares)   152,505        
Issuance costs related to stock issued for tender offer       (3,649)   (3,649)
Dividends accrued on Series C and D convertible preferred stock       (372)   (372)
Stock-based compensation       136   136
Net (loss) income         19,227 19,227
Ending balance at Aug. 31, 2024   $ 1,220   785,874 (872,304) (85,210)
Ending balance (shares) at Aug. 31, 2024 34 1,220,284        
Ending balance treasury stock (shares) at Aug. 31, 2024     443      
Beginning balance at May. 31, 2024   $ 1,059   773,714 (891,531) (116,758)
Beginning balance (shares) at May. 31, 2024 34 1,059,002        
Beginning balance treasury stock (shares) at May. 31, 2024     443      
Net (loss) income           14,459
Ending balance at Nov. 30, 2024   $ 1,224   786,458 (877,072) (89,390)
Ending balance (shares) at Nov. 30, 2024 34 1,223,517        
Ending balance treasury stock (shares) at Nov. 30, 2024     443      
Beginning balance at Aug. 31, 2024   $ 1,220   785,874 (872,304) (85,210)
Beginning balance (shares) at Aug. 31, 2024 34 1,220,284        
Beginning balance treasury stock (shares) at Aug. 31, 2024     443      
Issuance of stock for convertible note repayment   $ 4   416   420
Issuance of stock for convertible note repayment (in shares)   3,233        
Dividends accrued on Series C and D convertible preferred stock       (369)   (369)
Stock-based compensation       537   537
Net (loss) income         (4,768) (4,768)
Ending balance at Nov. 30, 2024   $ 1,224   786,458 (877,072) (89,390)
Ending balance (shares) at Nov. 30, 2024 34 1,223,517        
Ending balance treasury stock (shares) at Nov. 30, 2024     443      
Beginning balance at May. 31, 2025   $ 1,249   790,495 (887,786) $ (96,042)
Beginning balance (shares) at May. 31, 2025 34 1,249,460        
Beginning balance treasury stock (shares) at May. 31, 2025     286     286
Issuance of stock for convertible note repayment   $ 8   2,242   $ 2,250
Issuance of stock for convertible note repayment (in shares)   7,462        
Stock option exercises       21   21
Stock option exercises (in shares)   100        
Warrant exercises (in shares)   23        
Dividends accrued on Series C and D convertible preferred stock       (373)   (373)
Stock-based compensation       179   179
Net (loss) income         (5,540) (5,540)
Ending balance at Aug. 31, 2025   $ 1,257   792,564 (893,326) (99,505)
Ending balance (shares) at Aug. 31, 2025 34 1,257,045        
Ending balance treasury stock (shares) at Aug. 31, 2025     286      
Beginning balance at May. 31, 2025   $ 1,249   790,495 (887,786) $ (96,042)
Beginning balance (shares) at May. 31, 2025 34 1,249,460        
Beginning balance treasury stock (shares) at May. 31, 2025     286     286
Net (loss) income           $ (28,147)
Ending balance at Nov. 30, 2025   $ 1,266   794,919 (915,933) $ (119,748)
Ending balance (shares) at Nov. 30, 2025 34 1,266,139        
Ending balance treasury stock (shares) at Nov. 30, 2025     286     286
Beginning balance at Aug. 31, 2025   $ 1,257   792,564 (893,326) $ (99,505)
Beginning balance (shares) at Aug. 31, 2025 34 1,257,045        
Beginning balance treasury stock (shares) at Aug. 31, 2025     286      
Issuance of stock for convertible note repayment   $ 8   2,242   2,250
Issuance of stock for convertible note repayment (in shares)   8,060        
Warrant exercises (in shares)   399        
Standby equity purchase agreement commitment fee   $ 1   299   300
Standby equity purchase agreement commitment fee (in shares)   635        
Dividends accrued on Series C and D convertible preferred stock       (369)   (369)
Stock-based compensation       183   183
Net (loss) income         (22,607) (22,607)
Ending balance at Nov. 30, 2025   $ 1,266   $ 794,919 $ (915,933) $ (119,748)
Ending balance (shares) at Nov. 30, 2025 34 1,266,139        
Ending balance treasury stock (shares) at Nov. 30, 2025     286     286