Quarterly report [Sections 13 or 15(d)]

Warrants (Tables)

v3.26.3
Warrants (Tables)
3 Months Ended
Aug. 31, 2026
Warrants and Rights Note Disclosure [Abstract]  
Schedule of Warrant Activity
Warrants outstanding as of August 31, 2026 and May 31, 2026 were as follows:
Exercise Remaining May 31, August 31
Source
Price term (Years) 2026 Issued Expired Exercised 2026
January 2026 Private Placement Warrants $ 8.22  4.9 355,960  —  —  —  355,960 
January 2026 Placement Agent Warrant $ 8.22  4.9 14,238  —  —  —  14,238 
October 2025 Placement Agent Warrant $ 4.81  4.2 15,389  —  —  —  15,389 
September 2024 Series A
Warrants
$ 15.00  3.0 73,333  —  —  (66,666) 6,667 
458,920  —  —  (66,666) 392,254 
Schedule of Estimated Fair Value of Significant Inputs The following assumptions were used in the valuations to measure the fair value of the January 2026 Private Placement Warrants and the January 2026 Placement Agent Warrant:
January 2026 Private Placement Warrants and Placement Agent Warrants
August 31, 2026 May 31, 2026
Current share price $ 18.18  18.36 
Exercise price $ 8.22  8.22 
Risk-free interest rate 4.5  % 4.1  %
Expected term (years) 4.90 5.14
Volatility of stock 85.5  % 80.0  %