Schedule of Stockholders Equity [Table Text Block] |
The issuance of 1,073,851 common stock shares during the year ended May 31, 2015 is summarized below: | | Number of | | | | Fair Value at | | | | Common Stock | | Fair Value at | | Issuance | | | | Shares | | Issuance | | (per share) | | Shares issued to consultants | | | 23,250 | | $ | 215,000 | | $ | 6.20-19.20 | | Shares issued for conversion of convertible notes payable | | | 40,000 | | | 600,000 | | | 15.00 | | Shares issued in connection with accrued interest on convertible notes | | | 791 | | | 11,868 | | | 15.00 | | Shares issued in connection with convertible notes | | | 8,450 | | | 123,345 | | | 6.90 | | Shares issued in connection with amendment of convertible notes | | | 2,604 | | | 16,923 | | | 6.50 | | Shares issued in connection with Series A convertible bonds | | | 10,600 | | | 174,142 | | | 6.10 | | Shares issued in connection with amendment of Series A convertible bonds | | | 9,290 | | | 93,781 | | | 6.50-13.90 | | Shares issued in connection with Series B convertible bonds | | | 9,815 | | | 123,505 | | | 12.60 | | Shares issued to board and committees members | | | 30,250 | | | 283,530 | | | 3.00-19.50 | | Shares issued as interest on debt | | | 43,375 | | | 309,240 | | | 2.80-18.50 | | Shares issued to private placement agent | | | 1,651 | | | 27,832 | | | 8.50-19.50 | | Shares issued in connection with conversion of accounts payable | | | 23,662 | | | 215,674 | | | 8.40-17.30 | | Shares issued in connection with conversion of Initio promissory notes | | | 305,603 | | | 2,290,210 | | | 6.50-7.501 | | Shares issued in connection with conversion of accrued interest and interest expense associated with Initio promissory notes | | | 30,236 | | | 226,189 | | | 6.50-7.501 | | Shares issued for conversion of Series A bonds | | | 370,969 | | | 3,709,655 | | | 10.00 | | Shares issued for conversion of Earn-out liability | | | 113,405 | | | 340,215 | | | 3.00 | | Shares issued in connection with settlement agreement | | | 27,500 | | | 255,750 | | | 9.30 | | Shares issued as a bonus | | | 22,400 | | | 188,160 | | | 8.40 | | The issuance of 522,386 common stock shares during the six months ended November 30, 2015 is summarized below: | | Number of | | | | Fair Value at | | | | Common Stock | | Fair Value at | | Issuance | | | | Shares | | Issuance | | (per share) | | Shares issued to consultants | | | 42,746 | | $ | 242,830 | | $ | 4.30 - 8.20 | | Shares issued for conversion of convertible notes payable | | | 125,000 | | | 507,146 | | | 4.10 | | Shares issued to board and committees members | | | 98,500 | | | 502,687 | | | 4.399 8.00 | | Shares issued to employees | | | 138,300 | | | 687,928 | | | 4.30 - 8.00 | | Shares issued pursuant to acquisition of subsidiaries | | | 102,460 | | | 700,168 | | | 4.70 - 8.20 | | Shares issued in connection with extension of Series A convertible bonds | | | 4,375 | | | 23,975 | | | 5.48 | | Shares issued in connection with extension of Series B convertible bonds | | | 1,375 | | | 6,875 | | | 4.999 5.00 | | Shares issued to private placement agent | | | 9,630 | | | 48,149 | | | 4.9999 5.00 | | |
Schedule Of Warrant Activity [Table Text Block] |
Transactions involving the Company’s warrant issuance are summarized as follows: | | | | Weighted | | | | Number of | | Average | | | | Shares | | Price Per Share | | Outstanding at May 31, 2014 | | | 676,077 | | $ | 19.70 | | Issued | | | 569,826 | | | 15.00 | | Exercised | | | - | | | - | | Expired | | | - | | | - | | Outstanding at May 31, 2015 | | | 1,245,903 | | $ | 17.60 | | Issued | | | 392,000 | | | 10.00 | | Exercised | | | - | | | - | | Expired | | | - | | | - | | Outstanding at November 30, 2015 | | | 1,637,903 | | $ | 15.80 | | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
A summary of the activity during the six months ended November 30, 2015 of the Company’s 2014 Equity Plan is presented below: | | Options | | Weighted Average Exercise Price | | Aggregate Intrinsic Value | | Outstanding at May 31, 2014 | | | 190,000 | | $ | 20.00 | | $ | - | | Granted | | | 147,000 | | | 17.20 | | | - | | Exercised | | | - | | | - | | | - | | Expired or cancelled | | | - | | | - | | | - | | Decrease in weighted average exercise price due to modification (1) | | | - | | $ | (4.10) | | | - | | Outstanding at May 31, 2015 | | | 337,000 | | $ | 13.10 | | $ | - | | Granted | | | 12,500 | | | 10.00 | | | - | | Exercised | | | - | | | | | | - | | Expired or cancelled | | | - | | | | | | - | | Outstanding at November 30, 2015 | | | 349,500 | | $ | 13.00 | | $ | - | | | (1) | On December 8, 2014, the Company modified the exercise price on its unvested 138,000 options from an exercise price of $20.00 per share to $10.00 per share. | |