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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Nov. 30, 2024
Nov. 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (142,973) $ (22,383)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 60,761 21,284
Stock-based compensation 542 10,440
Lease expense 15,380 2,294
Loss on extinguishment of debt 0 2,353
Loss on legal settlement 0 2,380
Amortization of debt issuance costs 2,424 352
Gain on classification of held for sale (24,616) 0
Loss on conversion of debt 33,612 0
Loss on change in fair value of debt 85,439 0
Loss on abandonment of assets 769 189
Changes in operating assets and liabilities:    
Accounts receivable (8,466) (225)
Prepaid expenses and other current assets (7,153) 496
Accounts payable (82,849) 6,440
Accrued liabilities (2,515) (1,914)
Due to customer (5,647) 0
Lease assets and liabilities (19,382) (19,198)
Other assets (1,058) (1,040)
CASH FLOW (USED IN) PROVIDED BY OPERATING ACTIVITIES (128,154) 9,054
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property and equipment and other assets (225,847) (45,828)
Proceeds from satisfaction of contingency on sale of assets 25,000 0
Finance lease prepayments (5,270) (19,388)
Purchases of investments (1,422) (390)
CASH FLOW USED IN INVESTING ACTIVITIES (207,539) (65,606)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of finance leases (62,170) (13,071)
Payment of deferred financing costs (28,927) 0
Proceeds from issuance of common stock 191,590 98,156
Common stock issuance costs (10,233) (234)
Proceeds from issuance of preferred stock 67,085 0
Preferred stock issuance costs (5,947) 0
Dividends issued on preferred stock (672) 0
Proceeds from issuance of SAFE agreement included in long-term debt 12,000 0
Repurchase of shares (31,342)
Proceeds from convertible notes 450,000 0
Purchase of capped call options (51,750) 0
Purchase of prepaid forward contract (52,736) 0
CASH FLOW PROVIDED BY FINANCING ACTIVITIES 618,584 47,611
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 282,891 (8,941)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD 31,688 43,574
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD 314,579 34,633
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 33,144 4,370
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Operating right-of-use assets obtained by lease obligation 0 69,329
Finance right-of-use assets obtained by lease obligation 97,489 96,946
Property and equipment in accounts payable and accrued liabilities 165,721 23,572
Conversion of debt to common stock 104,945 0
Extinguishment of non-controlling interest 0 9,765
Loss from legal settlement 0 2,300
Conversion of preferred stock to common stock 10,191 0
Cashless exercise of warrants 4 0
Issuance of warrants, at fair value 44,115 0
Nonrelated Party    
Changes in operating assets and liabilities:    
Customer deposits 2,306 4,274
Deferred revenue (31,487) 2,883
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings of long-term debt 275,000 4,732
Repayments of long-term debt (133,314) (4,472)
Related Party    
Changes in operating assets and liabilities:    
Customer deposits (1,549) 0
Deferred revenue (1,692) 429
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings of related party debt 0 8,000
Repayment of related party debt $ 0 $ (45,500)