Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2019

Liability Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy

Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of May 31, 2019 and May 31, 2018 is as follows:

	Fair Value Measurement at				Fair Value Measurement at
	May 31, 2019 (1)				May 31, 2018 (1)
	Using				Using
	Level 3		Total		Level 3		Total
Liabilities:
Derivative liability - warrants	$	2,005,137	$	2,005,137	$	—	$	—
Derivative liability - convertible note redemption provision		402,132		402,132		1,323,732		1,323,732
Total liability	$	2,407,269	$	2,407,269	$	1,323,732	$	1,323,732

Reconciliation of Liability Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) from inception to May 31, 2019:

Investor warrants issued with registered direct equity offering	$	4,360,000
Placement agent warrants issued with registered direct equity offering		819,200
Fair value adjustments		(3,855,468	)
Balance at May 31, 2018		1,323,732
Inception date value of redemption provisions		2,750,006
Fair value adjustments - convertible notes		(744,869	)
Fair value adjustments - warrants		(921,600	)
Balance at May 31, 2019	$	2,407,269