Registered Direct Equity Offerings (Tables)

12 Months Ended

May 31, 2018

Summary of Cash Proceeds of Offering

A summary of the cash proceeds of the offering is as follows:

Gross proceeds from sale of common stock	$	10,000,000
Placement agent fees and expenses		1,010,000
Total net proceeds	$	8,990,000

Summary of ASC 480 Allocation of Proceeds of Offering

A summary of the ASC 480 allocation of the proceeds of the offering is as follows:

Allocated to common stock and additional paid in capital	$	6,334,417
Allocated to warrant liabilities		2,655,583
Total net proceeds	$	8,990,000