Quarterly report pursuant to Section 13 or 15(d)

Accounts Payable and Accrued Liabilities

v3.21.2
Accounts Payable and Accrued Liabilities
3 Months Ended
Aug. 31, 2021
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities

Note 4. Accounts Payable and Accrued Liabilities

As of August 31, 2021 and May 31, 2021, the accounts payable balance was approximately $65.9 million at each period end. As of August 31, 2021 and May 31, 2021, two of the Company’s vendors accounted for approximately 72% and 15% and 72% and 14%, respectively, of the total balance of accounts payable.

The components of accrued liabilities were as follows as of August 31, 2021 and May 31, 2021:

    

As of

(in thousands)

August 31, 2021

May 31, 2021

Accrued compensation and related expense

$

956

$

4,005

Accrued legal settlement and fees

1,216

11,008

Accrued other liabilities

 

4,719

 

4,060

Total accrued liabilities

$

6,891

$

19,073

As of August 31, 2021, the approximately $1.2 million of accrued legal settlement and fees related entirely to accrued legal fees. As of May 31, 2021, the approximately $11.0 million of accrued legal settlement and fees was comprised of approximately $10.6 million related to legal settlements, and the remaining amount related to accrued legal fees.