Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Warrants (Tables)

v3.8.0.1
Stock Options and Warrants (Tables)
6 Months Ended
Nov. 30, 2017
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 as of and for the six months ended November 30, 2017:

 

     Number of
Shares
     Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual Life
in Years
     Aggregate
Intrinsic
Value
 

Options and warrants outstanding - May 31, 2017

     77,859,626      $ 0.86        3.40      $ 40,250  
  

 

 

          

Granted

     16,497,852        0.78        —          —    

Exercised

     (3,295,000      0.50        —          —    

Forfeited/expired/cancelled

     (3,510,677      0.98        —          —    
  

 

 

          

Options and warrants outstanding - November 30, 2017

     87,551,801        0.83        3.51        70,500  
  

 

 

          

Outstanding exercisable - November 30, 2017

     83,426,884      $ 0.83        3.25      $ 37,750