Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Tables)

v3.25.1
Stockholders’ Equity (Tables)
9 Months Ended
Feb. 28, 2025
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 28, 2025. 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       14,398,169       0.55     $ 0.40       14,398,169     $ 0.40  
          14,398,169       0.55     $ 0.40       14,398,169     $ 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, 2023     21,181,449     $ 0.40  
Granted     -     $ -  
Exercised     -     $ -  
Cancelled / Expired     (454,548 )   $ 0.41  
Warrants outstanding at May 31, 2024     20,726,901     $ 0.40  
Granted                
Exercised     -     $ -  
Cancelled / Expired     (6,328,732 )   $ 0.40  
Warrants outstanding at February 28, 2025     14,398,169     $ 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 28, 2025.

 

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       7,500,000       8.93     $ 0.039       2,916,666     $ 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, 2024     8,041,667     $ 0.039  
Granted     -     $ -  
Exercised     -     $ -  
Cancelled / Expired     (541,667 )   $ 0.039  
Options outstanding at February 28, 2025     7,500,000     $ 0.039  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The Company valued options using the Black-Scholes valuation model utilizing the following variables during the nine months ended February 28, 2025:

 

    February 28,  
    2025  
Volatility     269.44 %
Dividends   $ -  
Risk-free interest rates     3.8 %
Expected term (years)     5.00