Subsequent Events

9 Months Ended

Feb. 28, 2019

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 7:  Subsequent Events

     Subsequent to February 28, 2019, options to purchase 44,000 shares of the Company’s common stock were exercised. Net proceeds were approximately $31,520.

     Subsequent to February 28, 2019, the Company sold 289,531 shares of its common stock under the S-3 registration statement and received net proceeds of approximately $768,014.    

On April 8, 2019, the Company announced that the United States Patent and Trademark Office (“USPTO”) has issued a Notice of Allowance for Biomerica’s first U.S. patent pertaining to the Company’s InFoods® family of products that allow for revolutionary new treatment options for patients suffering from Irritable Bowel Syndrome (“IBS”) and other gastrointestinal diseases.  Please refer to the report filed on Form 8-K with the Securities and Exchange Commission on April 9, 2019.

On March 12, 2019, the Company entered into a contract with an institution to conduct an Endpoint Determination Study on the Company’s Infoods test. The institution shall invoice the Company monthly for its services with a maximum cost for services of $192,240. On March 1, 2019, the Company also entered into an agreement with the same institution for a Specimen Collection Study on the Company’s HP Stool antigen test with costs being invoiced monthly and a maximum cost of $95,050. Both contracts start on the date of the contract and terminate on trial completion.