CytoDyn Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Stock Options and Warrants (Tables)

Stock Options and Warrants (Tables)

12 Months Ended

May 31, 2018

Estimated Fair Value of Warrants is determined using Black-Scholes Option Valuation Model

The Company determined the fair value of the warrant extension using the Black-Scholes option pricing model utilizing certain weighted-average assumptions, such as expected stock price volatility, term of the warrants, risk-free rate and expected dividend yield at date of exercise.


		2017
Expected dividend yield		0%
Stock price volatility		61.48%
Expected term		1 month
Risk-free interest rate		0.84%
Grant-date fair value		$0.25

Stock Option and Warrant Activity

The following table represents stock option and warrant activity for the years ended May 31, 2018, May 31, 2017 and May 31, 2016:


						Weighted
						Average
				Weighted		Remaining
	Number of			Average		Contractual Life		Aggregate
	Shares			Exercise Price		in Years		Intrinsic Value
Options and warrants outstanding—May 31, 2015		31,008,915		$	0.88		2.94	$	5,538,335
Granted		33,838,536			0.80		—		—
Exercised		(1,050,301	)		0.70		—		—
Forfeited/expired/cancelled		(490,000	)		2.01		—		—

Options and warrants outstanding—May 31, 2016		63,307,150		$	0.83		3.20	$	9,863,492

Granted		16,935,437			0.99		—		—
Exercised		(912,961	)		0.55		—		—
Forfeited/expired/cancelled		(1,470,000	)		1.56		—		—

Options and warrants outstanding—May 31, 2017		77,859,626		$	0.86		3.40	$	40,250

Granted		65,420,227			0.75		—		—
Exercised		(6,322,263	)		0.50		—		—
Forfeited/expired/cancelled		(4,572,321	)		0.94		—		—

Options and warrants outstanding—May 31, 2018		132,385,269			0.80		3.78		3,673

Outstanding exercisable—May 31, 2018		128,872,852		$	0.80		3.66	$	3,673