Schedule of information on dividends of convertible preferred stock |
| | | | | | | | | | | | | | | | | | | | | August 31, 2022 | | May 31, 2022 | (in thousands) | | Series B | | Series C | | Series D | | Series B | | Series C | | Series D | Shares of preferred stock | | | 19 | | | 6 | | | 9 | | | 19 | | | 7 | | | 9 | Total shares of common stock if converted | | | 190 | | | 12,670 | | | 10,565 | | | 190 | | | 13,806 | | | 10,565 | Undeclared dividends | | $ | 11 | | $ | - | | $ | - | | $ | 10 | | $ | - | | $ | - | Accrued dividends | | $ | - | | $ | 2,186 | | $ | 2,175 | | $ | - | | $ | 2,014 | | $ | 1,963 | Total shares of common stock if dividends converted | | | 22 | | | 4,372 | | | 4,350 | | | 20 | | | 4,028 | | | 3,926 |
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Schedule of outstanding balances of convertible notes |
For additional information about the Company’s debt policies, refer to Note 2, Summary of Significant Accounting Policies, of the 2022 Form 10-K. Outstanding balances associated with the Company’s convertible notes and related accrued interest are as follows: | | | | | | | | | | | | | | | | | | | | | August 31, 2022 | | May 31, 2022 | (in thousands) | | April 2, 2021 Note | | April 23, 2021 Note | | Total | | April 2, 2021 Note | | April 23, 2021 Note | | Total | Convertible notes payable outstanding principal | | $ | 9,819 | | $ | 28,500 | | $ | 38,319 | | $ | 9,819 | | $ | 28,500 | | $ | 38,319 | Less: Unamortized debt discount and issuance costs | | | (359) | | | (1,127) | | | (1,486) | | | (512) | | | (1,566) | | | (2,078) | Convertible notes payable, net | | | 9,460 | | | 27,373 | | | 36,833 | | | 9,307 | | | 26,934 | | | 36,241 | Accrued interest on convertible notes | | | 2,920 | | | 4,200 | | | 7,120 | | | 2,599 | | | 3,375 | | | 5,974 | Outstanding convertible notes payable, net and accrued interest | | $ | 12,380 | | $ | 31,573 | | $ | 43,953 | | $ | 11,906 | | $ | 30,309 | | $ | 42,215 |
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Schedule of changes to outstanding balance of convertible notes |
| | | | | | | | | | (in thousands) | | April 2, 2021 Note | | April 23, 2021 Note | | Total | Outstanding balance at May 31, 2022 | | $ | 11,906 | | $ | 30,309 | | $ | 42,215 | Amortization of issuance discount and costs | | | 153 | | | 439 | | | 592 | Interest expense | | | 321 | | | 825 | | | 1,146 | Outstanding balance at August 31, 2022 | | $ | 12,380 | | $ | 31,573 | | $ | 43,953 |
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