Annual report pursuant to Section 13 and 15(d)

ACQUISITION OF ALTERNATIVE SOLUTIONS (Tables)

v3.19.2
ACQUISITION OF ALTERNATIVE SOLUTIONS (Tables)
12 Months Ended
May 31, 2019
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The acquisition date estimated fair value of the consideration transferred totaled $27,975,650, which consisted of the following:

Initial purchase price

  $ 2,050,000  

Cash paid in connection with transaction

    5,995,543  

Note payable

    3,810,820  

Contingent consideration

    678,111  

Common stock

    15,441,176  

Total purchase price

  $ 27,975,650  
         

Net tangible assets

  $ 595,151  

Intangible assets

    1,637,600  

Goodwill

    25,742,899  

Total purchase price

  $ 27,975,650  
Business Acquisition, Pro Forma Information [Table Text Block]
These combined results are not necessarily indicative of the results that may have been achieved had the companies always been combined.

   

Twelve months ended May 31,

 
   

2019

   

2018

 
   

(unaudited)

   

(unaudited)

 

Revenues

  $ 9,759,956     $ 7,258,443  

Net loss

  $ (26,671,841

)

  $ (18,885,612

)

Basic net loss per share

  $ (0.26

)

  $ (0.30

)

Diluted net loss per share

  $ (0.26

)

  $ (0.30

)

Weighted average shares - basic

    102,869,612       62,558,436  

Weighted average shares - diluted

    102,869,612       62,558,436