XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.1
SUBSEQUENT EVENTS
9 Months Ended
Feb. 28, 2023
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 7:  SUBSEQUENT EVENTS

 

The Company closed a public offering on March 7, 2023 of an aggregate of 3,333,333 shares of its common stock, par value $0.08 per share at a price to the public of $2.40 per share for total gross proceeds of $8 million, before deducting underwriting discounts and commissions and other offering-related expenses payable by the Company.

 

The Company intends to use the net proceeds of the offering for general corporate purposes, including, without limitation, setting up and conducting clinical studies, expanding sales and marketing activities for existing and new products, research and development of new products, acquisitions, capital expenditures, and for other general working capital needs.

 

In conjunction with the public offering of shares of the Company’s common stock, the Company suspended its at-the-market sales agreement.