v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Aug. 31, 2026
May 31, 2026
Current assets:    
Cash and cash equivalents $ 16,359 $ 11,852
Prepaid expenses 1,284 750
Prepaid service fees 1,340 1,276
Total current assets 18,983 13,878
Other non-current assets 71 95
Total assets 19,054 13,973
Current liabilities:    
Accounts payable 13,161 13,155
Accrued liabilities and compensation 14,523 18,925
Accrued interest on convertible notes 8,609 11,140
Accrued dividends on convertible preferred stock 10,016 9,647
Current portion of long-term convertible notes payable 3,391 860
Total current liabilities 49,700 53,727
Convertible notes payable 23,809 26,340
Operating leases 47 53
Other liabilities (Note 10) 43,571 43,571
Total liabilities 117,127 123,691
Commitments and Contingencies (Note 10)
Stockholders' deficit:    
Common stock, $0.001 par value; 2,250,000 shares authorized; 1,454,639 and 1,373,803 issued, and 1,454,353 and 1,373,517 outstanding at August 31, 2026 and May 31, 2026, respectively 1,455 1,374
Treasury stock, $0.001 par value; 286 shares at August 31, 2026 and May 31, 2026 0 0
Additional paid-in capital 850,893 819,393
Accumulated deficit (950,421) (930,485)
Total stockholders' deficit (98,073) (109,718)
Total liabilities and stockholders' deficit 19,054 13,973
Series B Convertible Preferred Stock    
Stockholders' deficit:    
Preferred stock 0 0
Series C Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 4,458 4,302
Stockholders' deficit:    
Preferred stock 0 0
Series D Convertible Preferred Stock    
Current liabilities:    
Accrued dividends on convertible preferred stock 5,558 5,345
Stockholders' deficit:    
Preferred stock $ 0 $ 0