Right to Use Assets and Liabilities - Operating Leases
|6 Months Ended|
Nov. 30, 2019
|Disclosure Text Block [Abstract]|
|Lessee, Operating Leases [Text Block]||
Note 10 – Right to Use Assets and Liabilities – Operating Leases
The Company has operating leases for offices and warehouses. The Company’s leases have remaining lease terms of 1 year to 4 years, some of which include options to extend.
The Company’s lease expense for the three and six months ended November 30, 2019 was entirely comprised of operating leases and amounted to $106,370 and $212,741, respectively. The Company’s right of use (“ROU”) asset amortization for the three and six months ended November 30, 2019 was $89,265 and $176,578, respectively. The difference between the lease expense and the associated ROU asset amortization consists of interest.
Right to use assets – operating leases are summarized below:
Operating lease liabilities are summarized below:
Maturity analysis under these lease agreements is as follows:
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef