Convertible Instruments (Tables)
|
12 Months Ended |
May 31, 2021 |
|---|
| Schedule of the outstanding balance of convertible notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 2020 Note |
|
July 2020 Note |
|
November 2020 Note |
|
April 2, 2021 Note |
|
April 23, 2021 Note |
Outstanding balance May 31, 2020 |
$ |
15,467 |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
Consideration received |
|
- |
|
|
25,000 |
|
|
25,000 |
|
|
25,000 |
|
|
25,000 |
Amortization of issuance discount and costs |
|
1,369 |
|
|
1,097 |
|
|
740 |
|
|
268 |
|
|
182 |
Accrued interest |
|
480 |
|
|
1,901 |
|
|
1,258 |
|
|
447 |
|
|
302 |
Cash repayments |
|
(950) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
Conversions |
|
(9,538) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
Fair market value of shares exchanged for repayment |
|
(10,997) |
|
|
(37,298) |
|
|
(19,870) |
|
|
- |
|
|
- |
Debt extinguishment loss |
|
4,169 |
|
|
9,300 |
|
|
6,427 |
|
|
- |
|
|
- |
Outstanding balance May 31, 2021 |
$ |
- |
|
$ |
- |
|
$ |
13,554 |
|
$ |
25,715 |
|
$ |
25,485 |
|
| Warrants at Fair Value and Beneficial Conversion Feature At Intrinsic Value |
|
|
|
|
|
|
January 30, 2019 |
Fair value of redemption provision |
|
$ |
1,465 |
Relative fair value of equity classified warrants |
|
|
858 |
Beneficial conversion feature |
|
|
2,677 |
Net proceeds of January 2019 Note |
|
$ |
5,000 |
|
| Two Thousand And Nineteen Short Term Convertible Notes [Member] |
|
| Summary of Fair Value Valuation Technique |
|
|
|
|
|
|
|
2018 - 2019 |
|
Expected dividend yield |
|
|
0 |
% |
Stock price volatility |
|
|
55.8 - 55.88 |
% |
Expected term |
|
|
5 year |
|
Risk-free interest rate |
|
|
2.48 - 2.56 |
% |
Grant-date fair value |
|
$ |
0.30 - $0.38 |
|
|
| Activity Related to Notes |
|
|
|
|
|
|
|
|
|
Years ended May 31, |
|
|
2020 |
|
2019 |
Face value of Short-term Convertible Notes |
|
$ |
5,460 |
|
$ |
5,460 |
Unamortized discount |
|
|
— |
|
|
(1,470) |
Unamortized issuance costs |
|
|
— |
|
|
(404) |
Accrued interest converted into principal |
|
|
154 |
|
|
— |
Note repayment |
|
|
(460) |
|
|
— |
Note conversions into common stock |
|
|
(5,154) |
|
|
— |
Carrying value of Short-term Convertible Notes |
|
$ |
— |
|
$ |
3,586 |
|
| Long Term Convertible Notes January 2019 and June 2018 [Member] |
|
| Activity Related to Notes |
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
Non-current |
|
Total |
June 2018 Note |
|
$ |
2,100 |
|
$ |
3,600 |
|
$ |
5,700 |
Monthly redemption provision |
|
|
2,100 |
|
|
(2,100) |
|
|
— |
Note amendment, net |
|
|
— |
|
|
112 |
|
|
112 |
Redemptions |
|
|
— |
|
|
(1,455) |
|
|
(1,455) |
Interest accretion - June 2018 and January 2019 Notes |
|
|
— |
|
|
298 |
|
|
298 |
Carrying value of Notes at May 31, 2019 |
|
|
4,200 |
|
|
455 |
|
|
4,655 |
Redemptions |
|
|
(10,689) |
|
|
(57) |
|
|
(10,746) |
Interest accretion - June 2018 |
|
|
6,489 |
|
|
39 |
|
|
6,528 |
Extinguishment of note |
|
|
— |
|
|
(437) |
|
|
(437) |
Carrying value of Notes at May 31, 2020 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|