General form for registration of securities under the Securities Act of 1933

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets
$ in Thousands
Feb. 28, 2026
USD ($)
Current assets:  
Cash and cash equivalents $ 15,655
Prepaid expenses 448
Prepaid service fees 2,335
Total current assets 18,438
Other non-current assets 59
Total assets 18,497
Current liabilities:  
Accounts payable 13,478
Accrued liabilities and compensation 15,825
Accrued interest on convertible notes 11,750
Accrued dividends on convertible preferred stock 9,375
Total current liabilities 50,428
Convertible notes payable, net 27,200
Accrued interest on convertible notes 1,585
Other liabilities (Note 10) 43,571
Total liabilities 122,784
Commitments and Contingencies (Note 10)
Stockholders' deficit:  
Common stock, $0.001 par value; 2,250,000 shares authorized; 1,358,242 and 1,249,460 issued, and 1,357,956 and 1,249,174 outstanding at February 28, 2026 and May 31, 2025, respectively 1,358
Treasury stock, $0.001 par value; 286 shares at February 28, 2026 and May 31, 2025
Additional paid-in capital 814,978
Accumulated deficit (920,623)
Total stockholders' deficit (104,287)
Total liabilities and stockholders' deficit 18,497
Series B Convertible Preferred Stock  
Stockholders' deficit:  
Preferred stock
Series C Convertible Preferred Stock  
Current liabilities:  
Accrued dividends on convertible preferred stock 4,243
Stockholders' deficit:  
Preferred stock
Series D Convertible Preferred Stock  
Current liabilities:  
Accrued dividends on convertible preferred stock 5,132
Stockholders' deficit:  
Preferred stock