Stock-based Compensation (Tables)

9 Months Ended

Feb. 29, 2024

Stock-based Compensation [Abstract]

Schedule of Fair Value of Stock Options

During the nine months ended February 29, 2024, the Company granted nil stock options (February 28, 2023 – 585,230). Stock options outstanding vest in equal tranches over a period of three years. The Company estimated the fair value of the stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

	February 29, 2024
Stock price	$	0.30
Risk-free interest rate		2.8	%
Term (years)		5
Volatility		85	%
Forfeiture rate		0	%
Dividend yield		0	%

Schedule of Stock Option Activity

A summary of stock option activity for the Company is as follows:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)
Outstanding stock options May 31, 2023		585,230	$	0.76		7.2
Exercised		-		-		-
Expired		-		-		-
Outstanding stock options February 29, 2024		585,230	$	0.76		6.4
Exercisable as of February 29, 2024		195,077	$	0.76		17.0