Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.24.1.u1
Stockholders' Equity (Tables)
9 Months Ended
Feb. 29, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] The following table summarizes the significant terms of warrants outstanding at February 29, 2024. This table does not include the unit warrants. See Unit Warrants section below.

Range of

exercise

Prices

   

Number of

warrants

Outstanding

   

Weighted

average

remaining

contractual

life (years)

   

Weighted

average

exercise

price of

outstanding

Warrants

   

Number of

warrants

Exercisable

   

Weighted

average

exercise

price of

exercisable

Warrants

 
                                             
$ 0.40-0.4125       20,726,901       1.55     $ 0.40       20,726,901     $ 0.40  
          20,726,901       1.55     $ 0.40       20,726,901     $ 0.40  
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block] Transactions involving warrants are summarized as follows. This table does not include the unit warrants. See Unit Warrants section below.
   

Number of

Shares

   

Weighted Average

Exercise Price

 

Warrants outstanding at May 31, 2022

    1,729,924     $ 0.49  

Granted

    20,232,775     $ 0.40  

Exercised

    -     $ -  

Cancelled / Expired

    (781,250 )   $ 0.60  

Warrants outstanding at May 31, 2023

    21,181,449     $ 0.40  

Granted

    -     $ -  

Exercised

    -     $ -  

Cancelled / Expired

    (454,548 )   $ 0.41  

Warrants outstanding at February 29, 2024

    20,726,901     $ 0.40  
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] The following table summarizes the significant terms of options outstanding at February 29, 2024.

Range of

exercise

Prices

   

Number of

options

Outstanding

   

Weighted

average

remaining

contractual

life (years)

   

Weighted

average

exercise

price of

outstanding

Options

   

Number of

Options

Exercisable

   

Weighted

average

exercise

price of

exercisable

Option

 
                                             
$ 0.039       8,250,000       9.93     $ 0.039       343,750     $ 0.039  
Share-Based Payment Arrangement, Option, Activity [Table Text Block] Transactions involving options are summarized as follows.
   

Number of

Shares

   

Weighted Average

Exercise Price

 

Options outstanding at May 31, 2023

    -     $ -  

Granted

    8,250,000     $ 0.039  

Exercised

    -     $ -  

Cancelled / Expired

    -     $ -  

Options outstanding at February 29, 2024

    8,250,000     $ 0.039  
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] The Company valued options using the Black-Scholes valuation model utilizing the following variables:
   

February 29,

 
   

2024

 

Volatility

    269.44 %

Dividends

  $ -  

Risk-free interest rates

    3.8 %

Expected term (years)

    5.00