Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Property, Plant and Equipment

v3.19.3
Note 9 - Property, Plant and Equipment
 3 Months Ended
Aug. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 9 – Property, Plant and Equipment


Property, plant and equipment consisted of the following at August 31, 2019 and May 31, 2019.


   

August 31, 

2019

    

May 31,

2019

  

Office equipment

     53,152       53,152  

Furniture and fixtures

     140,701       140,701  

Machinery & Equipment

     1,177,246       969,196  

Leasehold improvements

   $ 2,144,999     $ 1,293,660  

Less: accumulated depreciation

     (601,713

)

     (546,408

)

Property, plant, and equipment, net

   $ 2,914,385     $ 1,910,301  

During the three months ended August 31, 2019 and 2018, the Company made payments in the amount of $923,199 and $0, respectively, for property, plant, and equipment. In addition, during the three months ended August 31, 2018, the Company acquired plant, property, and equipment in the amount of $933,142 with the acquisition of Alternative Solutions. See note 3. Also during the three months ended August 31, 2019, the Company applied $136,190 of deposits to the acquisition of fixed assets. See note 6.


Depreciation of property, plant, and equipment was $55,305 and $27,509 for the three months ended August 31, 2019 and 2018 respectively.