Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Cash flows from operating activities:      
Net (loss) income $ (4,768) $ (28,147) $ 14,459
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Depreciation   9 9
Standby equity purchase agreement non-cash commitment fee   300  
Amortization of discount on convertible notes 113   238
Gain on restructuring of payables (80)   (80)
Loss on derivatives     852
Loss on induced conversion     1,180
Stock-based compensation   362 673
Changes in operating assets and liabilities:      
Prepaid expenses and other assets   2,182 (2,229)
Accounts payable, accrued expenses, and other liabilities   18,494 (13,248)
Net cash (used in) provided by operating activities   (6,800) 1,854
Cash flows from investing activities:      
Net cash provided by/used in investing activities  
Cash flows from financing activities:      
Proceeds from warrant transactions, net of offering costs     10,377
Proceeds from exercise of stock options   21  
Cash paid for note payable   (142) (710)
Net cash (used in) provided by financing activities   (121) 9,667
Net change in cash and cash equivalents   (6,921) 11,521
Cash and cash equivalents at beginning of period   11,903 9,814
Cash and cash equivalents at end of period $ 21,335 4,982 21,335
Supplemental disclosure:      
Cash paid for interest   20 23
Non-cash investing and financing transactions:      
Issuance of common stock for interest on convertible notes   4,500 1,420
Accrued dividends on Series C and D convertible preferred stock   $ 742 $ 741