Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Changes in Stockholders Deficit

v3.22.4
Consolidated Statement of Changes in Stockholders Deficit - USD ($)
shares in Thousands, $ in Thousands
Preferred Stock
Series B Convertible Preferred Stock
Preferred Stock
Series C Convertible Preferred Stock
Preferred Stock
Common Stock
Series B Convertible Preferred Stock
Common Stock
Series C Convertible Preferred Stock
Common Stock
Private Warrant Exchange [Member]
Common Stock
Private Equity Offering
Common Stock
Treasury Stock
Additional Paid-in Capital
Series C Convertible Preferred Stock
Additional Paid-in Capital
Private Warrant Exchange [Member]
 [1]
Additional Paid-in Capital
Private Equity Offering
Additional Paid-in Capital
Accumulated Deficit
Series B Convertible Preferred Stock
 [1]
Private Warrant Exchange [Member]
Private Equity Offering
Total
Beginning balance at May. 31, 2021               $ 626         $ 532,031 [1] $ (553,675) [1]       $ (21,018) [1]
Beginning balance (shares) at May. 31, 2021     96         626,123 443                  
Issuance of stock for convertible note repayment               $ 12         13,832 [1]         13,844 [1]
Issuance of stock for convertible note repayment (in shares)               11,816                    
Loss on induced conversion [1]                         18,530         18,530
Issuance of legal settlement, warrants [1]                         1,744         1,744
Stock option exercises [1]                         189         189
Stock option exercises (in shares)               300                    
Stock issued for compensation and tendered for income tax               $ 1         (1) [1]          
Stock issued for compensation and tendered for income tax (in shares)               1,014                    
Stock issued for private offerings             $ 3         $ 2,869 [1]         $ 2,872 [1]  
Stock issued for private offerings (in shares)             2,872                      
Warrant exercises           $ 1   $ 1     $ 774   502 [1]     $ 775 [1]   503 [1]
Warrant exercises (in shares)           1,327   668                    
Inducement interest expense related to private warrant exchange [1]                         528         528
Dividends accrued on Series C and D convertible preferred stock [1]                           (420)       (420)
Stock-based compensation [1]                         2,597         2,597
Net loss [1]                           (45,337)       (45,337)
Ending balance at Aug. 31, 2021               $ 644         573,595 [1] (599,432) [1]       (25,193) [1]
Ending balance (shares) at Aug. 31, 2021     96         644,120 443                  
Beginning balance at May. 31, 2021               $ 626         532,031 [1] (553,675) [1]       (21,018) [1]
Beginning balance (shares) at May. 31, 2021     96         626,123 443                  
Loss on induced conversion [1]                                   25,315
Net loss [1],[2]                                   (85,414)
Ending balance at Nov. 30, 2021               $ 686         626,558 [1] (639,940) [1]       (12,696) [1]
Ending balance (shares) at Nov. 30, 2021     36         685,861 443                  
Beginning balance at May. 31, 2021               $ 626         532,031 [1] (553,675) [1]       (21,018) [1]
Beginning balance (shares) at May. 31, 2021     96         626,123 443                  
Ending balance at May. 31, 2022               $ 720         671,013 (766,131)       (94,398)
Ending balance (shares) at May. 31, 2022     35         720,028 443                  
Beginning balance at Aug. 31, 2021               $ 644         573,595 [1] (599,432) [1]       (25,193) [1]
Beginning balance (shares) at Aug. 31, 2021     96         644,120 443                  
Issuance of stock for convertible note repayment               $ 8         8,193 [1]         8,201 [1]
Issuance of stock for convertible note repayment (in shares)               8,162                    
Loss on induced conversion [1]                         6,785         6,785
Stock option exercises [1]                         200         200
Stock option exercises (in shares)               210                    
Stock issued for private offerings             $ 25         27,282 [1]         27,307 [1]  
Stock issued for private offerings (in shares)             25,178                      
Issuance costs related to stock issued for private offerings [1]                         (1,418)         (1,418)
Conversion of preferred stock to common stock       $ 1                     $ 1      
Conversion of preferred stock to common stock (in shares) (60)     600                            
Warrant exercises           $ 7   $ 1     $ 4,608   532 [1]     $ 4,615 [1]   533 [1]
Warrant exercises (in shares)           6,593   963                    
Inducement interest expense related to private warrant exchange [1]                         4,704         4,704
Dividends accrued on Series C and D convertible preferred stock [1]                         17 (431)       (414)
Dividends accrued on Series C and D convertible preferred stock (in shares)               35                    
Stock-based compensation [1]                         2,060         2,060
Net loss [1]                           (40,077)       (40,077) [2]
Ending balance at Nov. 30, 2021               $ 686         626,558 [1] (639,940) [1]       (12,696) [1]
Ending balance (shares) at Nov. 30, 2021     36         685,861 443                  
Beginning balance at May. 31, 2022               $ 720         671,013 (766,131)       (94,398)
Beginning balance (shares) at May. 31, 2022     35         720,028 443                  
Stock issued for compensation               $ 1         344         $ 345
Stock issued for compensation (in shares)               879                    
Stock issued for private offerings             $ 85         $ 17,459         $ 17,544  
Stock issued for private offerings (in shares)             85,378                     4,600
Issuance costs related to stock issued for private offerings                         (6,289)         $ (6,289)
Conversion of preferred stock to common stock         $ 1         $ (1)                
Conversion of preferred stock to common stock (in shares)   (1)     1,136                          
Warrant exercises               $ 1         263         264
Warrant exercises (in shares)               657                    
Deemed dividend paid in common stock due to down round provision, recorded in additional paid-in capital               $ 5         (5)          
Deemed dividend paid in common stock due to down round provision recorded in additional paid-in capital (in share)               4,620                    
Dividends accrued on Series C and D convertible preferred stock                         (384)         (384)
Reclassification of warrants from liability to equity classified                         8,601         8,601
Stock-based compensation                         996         996
Reclassification of prior period preferred stock dividends                         (4,265) 4,265        
Net loss                           (20,991)       (20,991)
Ending balance at Aug. 31, 2022               $ 813         687,732 (782,857)       (94,312)
Ending balance (shares) at Aug. 31, 2022     34         812,698 443                  
Beginning balance at May. 31, 2022               $ 720         671,013 (766,131)       (94,398)
Beginning balance (shares) at May. 31, 2022     35         720,028 443                  
Loss on induced conversion                                   $ 638
Warrant exercises (in shares)                                   500
Net loss                                   $ (47,486)
Ending balance at Nov. 30, 2022               $ 825         692,558 (809,352)       (115,969)
Ending balance (shares) at Nov. 30, 2022     34         825,279 443                  
Beginning balance at Aug. 31, 2022               $ 813         687,732 (782,857)       (94,312)
Beginning balance (shares) at Aug. 31, 2022     34         812,698 443                  
Issuance of stock for convertible note repayment               $ 2         498         500
Issuance of stock for convertible note repayment (in shares)               1,822                    
Loss on induced conversion                         638         638
Stock issued for compensation                         310         310
Stock issued for compensation (in shares)               765                    
Exercise of warrants, net of offering costs               $ 10         2,123         2,133
Exercise of warrants, net of offering costs (in shares)               9,652               9,700    
Make-whole shares related to private warrant exchange (in shares)               23                    
Dividend paid in common stock upon conversion of Series C convertible preferred stock ($0.50 per share)                         159         159
Dividend paid in common stock upon conversion of Series C convertible preferred stock ($0.50 per share) (in shares)               319                    
Dividends accrued on Series C and D convertible preferred stock                         (369)         (369)
Stock-based compensation                         1,467         1,467
Net loss                           (26,495)       (26,495)
Ending balance at Nov. 30, 2022               $ 825         $ 692,558 $ (809,352)       $ (115,969)
Ending balance (shares) at Nov. 30, 2022     34         825,279 443                  
[1] See Note 2, Summary of Significant Accounting Policies—Revision and Restatement of Financial Statements.
[2] See Note 2, Summary of Significant Accounting Policies