v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Aug. 31, 2020
Aug. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (1,145,036) $ (1,376,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on contingent liabilities 0 (275,000)
Fair value of shares issued to consultants (25,750) 0
Amortization of debt discounts 395,070 448,291
Fair value of shares vested by officers 26,938 63,222
Depreciation and amortization expense 170,760 87,418
Fair value of shares issued in settlement 0 7,500
Bad debt expense 5,992 0
Changes in assets and liabilities:    
Accounts receivable (307,087) (66,361)
Prepaid expenses and other current liabilities (101,212) (36,205)
Inventory (142,802) (27,281)
Interest receivable (60,565) (82,169)
Right of use asset 86,830 1,034,847
Accounts payable and accrued expenses 237,820 (267,861)
Accrued interest 258,114 433,937
Operating lease liability (102,617) (893,301)
Net cash used in operating activities (703,545) (949,463)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments to purchase property, plant and equipment (84,921) (923,199)
Loan made to borrower under note receivable 0 (175,000)
Proceeds from collection of note receivable 750,000 0
Net cash used in investing activities 665,079 (1,098,199)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on notes payable 0 (2,570,230)
Net cash provided by financing activities 0 (2,570,230)
Net increase in cash and cash equivalents (38,466) (4,617,892)
Cash and cash equivalents at beginning of period 2,925,568 10,525,791
Cash and cash equivalents at end of period 2,887,102 5,907,899
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 139,984 242
Income taxes paid 0 0
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Charge to paid-in capital for par value of shares issued in cashless exercise of warrants 0 1,781,446
Adoption of lease standard ASU 2016-02 0 371,021
Capitalized interest on convertible debentures 212,601 136,190
Non-Related Party Debt [Member]    
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for conversion of convertible notes payable $ 0 $ 25,857

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