Quarterly report pursuant to Section 13 or 15(d)

Registered Direct Equity Offering (Tables)

v3.6.0.2
Registered Direct Equity Offering (Tables)
6 Months Ended
Nov. 30, 2016
Summary of Cash Proceeds of Offering

A summary of the cash proceeds of the offering is shown below:

 

Gross proceeds from sale of common stock

   $ 10,000,000   

Placement agent fees and expenses

     1,010,000   
  

 

 

 

Total net proceeds

   $ 8,990,000   
  

 

 

 
Summary of ASC 480 Allocation of Proceeds of Offering

A summary of the ASC 480 allocation of the proceeds of the offering is as follows:

 


Allocated to common stock and additional paid in capital

   $ 6,334,417   

Allocated to warrant liabilities

     2,655,583   
  

 

 

 

Total net proceeds

   $ 8,990,000