15. General And Administrative Expenses |
15. General and Administrative Expenses General and administrative expenses for the three-month periods ended August 31, 2022 and 2021 were as follows: | | August 31, 2022 | | | August 31, 2021 | | Professional fees | | $ | 1,475,768 | | | $ | 856,997 | | Employee compensation | | | 1,032,298 | | | | 868,122 | | Insurance | | | 1,070,840 | | | | 1,059,153 | | Other | | | 431,781 | | | | 331,954 | | | | $ | 4,010,687 | | | $ | 3,116,226 | |
General and administrative expenses for the six-month periods ended August 31, 2022 and 2021 were as follows: | | August 31, 2022 | | | August 31, 2021 | | Professional fees | | $ | 2,274,752 | | | $ | 2,488,447 | | Employee compensation(1) | | | 9,816,851 | | | | 1,329,527 | | Insurance | | | 2,173,381 | | | | 1,927,799 | | Other | | | 782,344 | | | | 531,024 | | | | $ | 15,047,328 | | | $ | 6,276,797 | |
| (1) | Includes stock-based compensation expense. During the six-month period ended August 31, 2022, the Company recorded a stock-based compensation expense of $7,740,000 related to the achievement of a performance milestone for 1,000,000 RSUs granted to the Company’s CEO (Note 12). During the six-month period ended August 31, 2021, the Company recorded RSU forfeitures for an amount of $935,837 as a net reversal of stock-based compensation. |
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