Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Cash flows from operating activities:    
Net loss $ (41,292,761) $ (40,526,058)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 747,693 267,414
Amortization of debt issuance costs 676,917 435,609
Amortization of discount on convertible notes 676,917 1,666,017
Interest expense associated with extension of warrant expirations 0 826,252
Interest expense associated with conversion of notes 0 2,352,045
Interest expense associated with accretion of convertible notes payable 283,442  
Change in fair value of derivative liabilities (881,495) 274,132
Stock-based compensation 2,891,548 1,096,226
Loss on extinguishment of convertible note 1,519,603 0
Deferred income tax benefit (2,826,919) 0
Changes in current assets and liabilities:    
(Increase) decrease in prepaid expenses (1,525,956) 2,674,850
(Decrease) increase in accounts payable and accrued expenses (720,889) 8,014,522
Net cash used in operating activities (40,953,793) (22,918,991)
Cash flows from investing activities:    
Furniture and equipment purchases (3,182) 0
Net cash used in investing activities (3,182) 0
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 29,836,826 22,903,710
Proceeds from warrant exercises 0 1,647,500
Proceeds from convertible notes payable, net 15,460,000 4,888,500
Repayment on convertible note 0 (259,157)
Payment of debt issuance costs (583,200)  
Payment of offering costs (3,394,467) (3,090,203)
Net cash provided by financing activities 41,319,159 26,090,350
Net change in cash 362,184 3,171,359
Cash, beginning of period 1,231,445 1,775,583
Cash, end of period 1,593,629 4,946,942
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 0 9,157
Non-cash investing and financing transactions:    
Accrued interest converted into note payable 225,245 0
Derivative liability associated with convertible notes payable 2,750,006 0
Beneficial conversion feature and fair value of warrant issued with note payable 3,534,992 0
Common stock issued in connection with an employment agreeement 8,342 0
Common stock issued for conversion redemption 455,000 0
Financing costs associated with placement agent warrants 260,635 70,383
Debt discount associated with convertible notes payable 3,059,159 1,574,628
Common stock issued upon conversion of convertible debt 0 5,788,500
Common stock issued for accrued interest payable 0 242,158
Common stock issued for board compensation 0 260,190
ProstaGene, LLC    
Non-cash investing and financing transactions:    
Common stock issued for acquisition $ 11,558,000 $ 0