General form of registration statement for all companies including face-amount certificate companies

GOING CONCERN

v3.20.4
GOING CONCERN
6 Months Ended 12 Months Ended
Nov. 30, 2020
May 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Substantial Doubt about Going Concern [Text Block]

Note 2 – Going Concern


As shown in the accompanying financial statements, the Company has incurred net losses from operations resulting in an accumulated deficit of $78,840,536 as of November 30, 2020. The Company’s auditors stated in their opinion on the Company’s financial statements for the year ended May 31, 2020 that there was substantial doubt about the Company’s ability to continue as a going concern, and that further losses were anticipated in the development of the Company’s business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.


NOTE 2 – GOING CONCERN


As shown in the accompanying financial statements, the Company has incurred net losses from operations resulting in an accumulated deficit of $76,846,124 as of May 31, 2020. Further losses are anticipated in the development of the Company’s business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with the proceeds from the sale of securities, and/or revenues from operations. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.