General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 12 Months Ended
Aug. 31, 2018
Aug. 31, 2017
May 31, 2018
May 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income (loss) $ (16,656,940) $ (565,685) $ (9,577,484) $ (4,865,724)
Adjustments to reconcile net loss to net cash used in operating activities:        
Imputed interest 271 271 1,076 1,075
Change in fair value of derivative 0 105,950 195,725 (310,975)
Loss on modification of debt 0 29,145 29,145 43,334
Loss on modification of debt – related party 0 0 0 951,239
Stock-based compensation 0 0 794,607 3,250
Warrants issued to placement agent 2,908,673 0 503,655 0
Warrants and Special Warrants issued to penalty 8,084,522 0 0 0
Loss on extinguishment of debt 0 0 989,032 0
(Gain) loss on note exchange 0 (3,480) (3,480) 0
Prepayment Penalty 0 0 137,000 0
Amortization of debt discounts 1,598,501 42,060 2,534,103 2,274,519
Depreciation and amortization expense 48,461 331 1,322 1,324
Start-up costs 0 0 0 141,739
Non-cash offering costs of equity financing 403,588 0 0 0
Fair value of shares vested by officers 120,138 0 0 0
Fair value of shares issued to consultants 490,000 0 0 0
Expense from derivative triggering event 12,659 0 0 0
Changes in assets and liabilities:        
Accounts receivable (24,544) 0 0 0
Inventory (93,446) 0 0 0
Prepaid expenses (151,709) 0 0 5,332
Other assets 0 50,000 50,000 0
Accounts payable and accrued expenses (548,738) 112,068 300,421 238,387
Accrued compensation (15,424) 62,500 216,667 150,000
Due to related parties (50,000) 0 0 0
Accrued interest, related party 3,497 24,198 96,211 204,364
Deferred rent 667 (49,565) (49,565) 0
Accrued interest 59,437 8,229 11,746 (20,169)
Net cash used in operating activities (3,810,387) (183,978) (1,425,298) (1,182,305)
CASH FLOWS FROM INVESTING ACTIVITIES        
Payment for investment in Alternative Solutions (5,982,710) 0 (2,050,000) 0
Payment for construction in progress     0 (35,013)
Net cash used in investing activities (5,982,710) 0 (2,050,000) (35,013)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from related party convertible notes payable 0 117,767 761,829 150,000
Proceeds from related party notes payable 81,961 0 0 1,447,550
Proceeds from convertible note payable 500,000 0 1,655,000 0
Proceeds from notes payable 0 0 410,000 0
Principal payments on notes payable (310,000) 0 (100,000) 0
Principal payments on related party notes payable (76,381) 0 (237,794) (61,000)
Principal payments on convertible notes payable (37,500) 0 (500,000) (329,166)
Proceeds from sale of equity 15,535,978 0 1,460,917 0
Net cash provided by financing activities 15,694,058 117,767 3,449,952 1,207,384
Net increase in cash and cash equivalents 5,900,961 (66,211) (25,346) (9,934)
Cash and cash equivalents at beginning of period 52,964 78,310 78,310 88,244
Cash and cash equivalents at end of period 5,953,925 12,099 52,964 78,310
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:        
Interest paid 8,964 0 0 53,837
Income taxes paid 0 0 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Convertible note issued for unpaid accrued salary 0 62,500 150,000 362,500
Discount on notes due to derivatives 0 0 1,758,741 600,564
Related party notes payable reclassified as related party convertible notes payable 75,000 816,975 1,116,816 849,750
Common stock issued for conversion of related party notes payable 654,697 0 2,023,666 2,704,240
Common stock issued for conversion of convertible notes payable 0 0 1,618,446 137,500
Settlement of derivative liability 0 0 442,775 612,850
Beneficial conversion feature on convertible notes 1,229,831 351,790 0 0
Note payable exchanged for common stock 654,697 0 2,023,666 2,704,240
Shares issued for settlement of accounts payable 0 6,000 6,000 0
Charge to paid-in capital for par value of shares issued in cashless exercise of warrants 13 0 0 0
Reclassify derivative liability to paid-in capital upon adoption of ASU 2017-11 1,265,751 0 442,775 612,850
CASH FLOWS FROM OPERATING ACTIVITIES        
Excess derivative 0 0 1,940,439 0
Note issued as commitment 0 0 404,082 0
Non-Related Party Debt [Member]        
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Common stock issued for conversion of convertible notes payable $ 0 $ 0 $ 2,554,924 $ 137,500