Quarterly report pursuant to Section 13 or 15(d)

Registered Direct Equity Offerings (Tables)

v3.8.0.1
Registered Direct Equity Offerings (Tables)
3 Months Ended
Aug. 31, 2017
Summary of Cash Proceeds of Offering

A summary of the cash proceeds of the offering is as follows:

 

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