Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Changes in Shareholders' Equity (Deficit)

v3.5.0.2
Consolidated Statement of Changes in Shareholders' Equity (Deficit) - USD ($)
Total
Private Equity Offering One
Private Equity Offering Two
Conversion Features One
Conversion Features Two
Conversion Features three
Exercise Price 1
Exercise Price 2
Conversion Features Four
Conversion Features Five
Conversion Features Six
Conversion Features Seven
Preferred Stock
Common Stock
Common Stock
Private Equity Offering One
Common Stock
Private Equity Offering Two
Common Stock
Conversion Features One
Common Stock
Conversion Features Two
Common Stock
Conversion Features three
Common Stock
Exercise Price 1
Common Stock
Exercise Price 2
Common Stock
Conversion Features Four
Common Stock
Conversion Features Five
Common Stock
Conversion Features Seven
Additional Paid-in Capital
Additional Paid-in Capital
Private Equity Offering One
Additional Paid-in Capital
Private Equity Offering Two
Additional Paid-in Capital
Conversion Features One
Additional Paid-in Capital
Conversion Features Two
Additional Paid-in Capital
Conversion Features three
Additional Paid-in Capital
Exercise Price 1
Additional Paid-in Capital
Exercise Price 2
Additional Paid-in Capital
Conversion Features Four
Additional Paid-in Capital
Conversion Features Five
Additional Paid-in Capital
Conversion Features Six
Additional Paid-in Capital
Conversion Features Seven
Rescission Amount
Accumulated Deficit
Beginning balance at May. 31, 2014 $ 3,922,232                       $ 95 $ 55,753                     $ 50,678,616                       $ (378,000) $ (46,434,232)
Beginning balance, shares at May. 31, 2014                         95,100 55,753,311                                                
Rescission expirations and exclusions 378,000                                                                       $ 378,000  
Amortization of deferred offering costs related to rescission liability (68,292)                                               (68,292)                          
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares                                 104,153 5,628,330 119,580                                      
OID, intrinsic value related to warrants 2,505,261                                               2,505,261                          
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, value       $ 52,077 $ 4,221,250 $ 86,296                     $ 104 $ 5,628 $ 120                 $ 51,973 $ 4,215,622 $ 86,176                
Exercise of common stock warrants, shares                                       1,938,974 100,000                                  
Exercise of common stock warrants, Value             $ 1,066,435 $ 75,000                       $ 1,939 $ 100                   $ 1,064,496 $ 74,900            
Stock-based compensation 631,302                                               631,302                          
Inducement interest on note conversions and warrant exercises 555,626                                               555,626                          
Inducement interest on reissued warrants 970,367                                               970,367                          
Net (loss) at year ended (25,088,070)                                                                         (25,088,070)
Ending balance at May. 31, 2015 (10,692,516)                       $ 95 $ 63,644                     60,766,047                         (71,522,302)
Ending balance, shares at May. 31, 2015                         95,100 63,644,348                                                
Debt discount due to reduction in note conversion price from ($0.75 to $0.675/share) 329,524                                               329,524                          
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, shares                                           4,095,008 792,201                              
Common shares issued to extinguish promissory notes payable, convertible debt and related interest, value                 $ 2,764,154 $ 594,152                       $ 4,095 $ 792                   $ 2,760,059 $ 593,360        
Conversion of convertible debt and extinguishment of derivative liability, Value                       $ 4,732,514                       $ 5,275                       $ 4,727,239    
Conversion of convertible debt and extinguishment of derivative liability, shares                                               $ 5,274,656                            
Exercise of common stock warrants (cashless), shares                           74,490                                                
Exercise of common stock warrants (cashless), value                           $ 74                     (74)                          
Exercise of common stock warrants, shares                                       192,307 603,286                                  
Exercise of common stock warrants, Value             $ 96,154 $ 452,465                       $ 192 $ 604                   $ 95,962 $ 451,861            
Stock-based compensation 2,353,194                                               2,353,194                          
Proceeds from private equity offering, shares                             44,357,838 4,301,500                                            
Inducement interest on reissued warrants                     $ 757,871                                               $ 757,871      
Proceeds from private equity offering, value   $ 33,268,464 $ 4,301,500                       $ 44,358 $ 4,302                   $ 33,224,106 $ 4,297,198                      
Deferred offering costs (3,915,127)                                               (3,915,127)                          
Modification of warrants related to conversion inducement                     $ 866,713                                               $ 866,713      
Net (loss) at year ended (25,703,612)                                                                         (25,703,612)
Ending balance at May. 31, 2016 $ 10,205,450                       $ 95 $ 123,336                     $ 107,307,933                         $ (97,225,914)
Ending balance, shares at May. 31, 2016                         95,100 123,335,634