Quarterly report pursuant to Section 13 or 15(d)

Convertible Instruments (Tables)

v3.8.0.1
Convertible Instruments (Tables)
6 Months Ended
Nov. 30, 2017
Activity Related to Notes

Activity related to the Notes was as follows:

 

     November 30, 2017      May 31, 2017  

Face amount of Notes

   $ 6,038,500      $ 1,150,000  
  

 

 

    

 

 

 

Unamortized discount

     (493,000      (92,000

Unamortized issuance costs

     (153,500      —    
  

 

 

    

 

 

 

Total carrying value of Notes

   $ 5,392,000      $ 1,058,000  
  

 

 

    

 

 

 
Investor Warrants  
Weighted Average Assumptions to Value Investor Warrants

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

 

     2017  

Expected dividend yield

     0%  

Stock price volatility

     69.5 - 69.80

Expected term

     5 year  

Risk-free interest rate

     1.75 - 1.83

Grant-date fair value

   $ 0.28 - $0.39