Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.20.1
Goodwill
9 Months Ended
Feb. 29, 2020
Disclosure Text Block Supplement [Abstract]  
Goodwill Disclosure [Text Block]

Note 12 – Goodwill


The Company recorded goodwill in the amount of $25,742,899 in connection with the acquisition of Alternative Solutions on June 27, 2018 (see note 3). Goodwill is tested for impairment on an annual basis utilizing the two-step process set forth in ASC 350 and ASC 360. The first step of this process compares the book value of the Company with its fair value. If the fair value exceeds its carrying amount (including recorded goodwill), no goodwill impairment has occurred. Since the fair value of the Company based upon the market price of the Company’s common stock exceeded the carrying value (including goodwill) at February 29, 2020 and May 31, 2019, no indication of goodwill impairment existed.