FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 31, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value by hierarchy

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of May 31, 2022 (in thousands):

	Balance as of
	May 31, 2022		Level 1		Level 2		Level 3
Money market funds	$	28,609	$	28,609	$	-	$	-
Assets	$	28,609	$	28,609	$	-	$	-

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of May 31, 2021 (in thousands):

	Balance as of
	May 31, 2021		Level 1		Level 2		Level 3
Money market funds	$	580	$	580	$	-	$	-
Assets	$	580	$	580	$	-	$	-