v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Feb. 28, 2021
Feb. 29, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (5,707,184) $ (3,910,473)
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 1,185,210 1,249,053
Fair value of shares vested by officers 80,813 124,582
Impairment of note receivable 2,498,706 0
Depreciation and amortization expense 511,036 285,073
Fair value of shares issued in settlement 0 45,000
Bad debt expense 5,927 0
Changes in assets and liabilities:    
Accounts receivable (121,955) 6,342
Prepaid expenses and other current assets (158,949) (72,742)
Inventory (394,414) 16,503
Interest receivable 2,500 (221,195)
Right of use asset 266,734 1,215,397
Accounts payable and accrued expenses 6,865 (166,468)
Accrued interest 258,113 934,117
Contingent liability (150,000) 0
Operating lease liability (314,311) (1,101,532)
Net cash used in operating activities (2,056,659) (1,871,343)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments to purchase property, plant and equipment (181,266) (1,766,185)
Loan made to borrower under note receivable 0 (175,000)
Proceeds from collection of note receivable 1,544,291 325,000
Net cash used in investing activities 1,363,025 (1,616,185)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on notes payable 0 (3,999,168)
Net cash provided by financing activities 0 (3,999,168)
Net increase in cash and cash equivalents (693,634) (7,486,696)
Cash and cash equivalents at beginning of period 2,925,568 10,525,791
Cash and cash equivalents at end of period 2,231,934 3,039,095
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 943,817 307,612
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 122,720 0
Adoption of lease standard ASU 2016-02 0 1,781,446
Capitalized interest on convertible debentures 212,601 1,144,762
Reclassification of deposit to fixed assets 0 136,190
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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