SUBSEQUENT EVENTS

12 Months Ended

May 31, 2021

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 10:    SUBSEQUENT EVENTS

Subsequent to May 31, 2021, as of the filing of the Original Form 10-K, options to purchase 1,500 shares of Biomerica common stock were exercised at the exercise price of $2.68 per share.  Proceeds to the Company were approximately $4,000.

Subsequent to May 31, 2021, as of the filing of the Original Form 10-K, the Company sold 201,553 shares of its common stock under its Form S-3 “shelf” Registration statement. The average sale price was $4.16 per share. Net proceeds to the Company were approximately $824,000.

On June 21, 2021, the Company signed an exclusive distribution and marketing agreement in Canada for its Helicobacter Pylori (H. Pylori) test.

In June 2021, the Company received a patent in Japan (#6902526) for the System and Method for a Digital Health System Providing a Food Recommendation Based on Food Sensitivity Testing. This technology is designed to allow for easier implementation of the dietary restrictions that result from InFoods® diagnostic testing. This method describes using a smartphone or similar technology to identify prepared or packaged foods that contain restricted food ingredients, using barcodes or product labels.

In August 2021, the Company received a notice of allowance for a patent in Japan whose claims cover the use of the InFoods® technology to diagnose and treat depression, and covers the compositions, devices and methods of depression sensitivity testing.