16. General And Administrative Expenses |
16. General and Administrative Expenses General and administrative expenses for the three-month periods ended November 30, 2022 and 2021 were as follows: | | November 30, 2022 | | | November 30, 2021 | | Professional fees | | $ | 1,278,478 | | | $ | 650,164 | | Employee compensation | | | 911,331 | | | | 1,028,242 | | Insurance | | | 709,952 | | | | 1,193,554 | | Other | | | 283,166 | | | | 219,295 | | | | $ | 3,182,927 | | | $ | 3,091,255 | |
General and administrative expenses for the nine-month periods ended November 30, 2022 and 2021 were as follows: | | November 30, 2022 | | | November 30, 2021 | | Professional fees | | $ | 3,840,844 | | | $ | 3,138,611 | | Employee compensation(1) | | | 10,728,182 | | | | 2,357,769 | | Insurance | | | 2,883,333 | | | | 3,121,353 | | Other | | | 777,896 | | | | 750,319 | | | | $ | 18,230,255 | | | $ | 9,368,052 | |
(1) | Includes stock-based compensation expense. During the nine-month period ended November 30, 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 13). During the nine-month period ended November 30, 2021, the Company recorded RSU forfeitures for an amount of $935,837 as a net reversal of stock-based compensation. |
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