Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.8.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Feb. 28, 2018
Feb. 28, 2017
Feb. 28, 2018
Feb. 28, 2017
Operating expenses:        
General and administrative $ 1,974,915 $ 1,391,463 $ 5,153,336 $ 4,651,451
Research and development 12,076,460 6,534,423 29,301,808 14,603,532
Amortization and depreciation 89,132 91,031 267,414 276,171
Total operating expenses 14,140,507 8,016,917 34,722,558 19,531,154
Operating loss (14,140,507) (8,016,917) (34,722,558) (19,531,154)
Interest income 662 3,588 1,870 12,971
Change in fair value of derivative liability (741,066) (26,666) (274,132) 1,196,800
Interest expense:        
Amortization of discount on convertible notes (493,022)   (1,666,017)  
Amortization of debt issuance costs (153,480)   (435,609)  
Interest related to derivative liability       (540,333)
Inducement interest related to warrant exercise   (72,437) (826,252) (72,437)
Inducement interest related to convertible notes (2,352,045)   (2,352,045)  
Interest on convertible notes payable (70,642)   (251,315)  
Total interest expense (3,069,189) (72,437) (5,531,238) (612,770)
Loss before income taxes (17,950,100) (8,112,432) (40,526,058) (18,934,153)
Provision for taxes on income 0 0 0 0
Net loss $ (17,950,100) $ (8,112,432) $ (40,526,058) $ (18,934,153)
Basic and diluted loss per share $ (0.10) $ (0.06) $ (0.25) $ (0.14)
Basic and diluted weighted average common shares outstanding 178,088,905 142,175,678 162,460,451 134,138,391