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

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended 12 Months Ended
Feb. 28, 2021
Feb. 29, 2020
May 31, 2020
May 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income (loss) $ (5,707,184) $ (3,910,473) $ (30,657,973) $ (27,619,057)
Gain on contingent liabilities   (275,000) (275,000) 0
Gain on modification of leases     (28,511) 0
Loss on disposal of assets 0 0 16,817 0
Impairment of goodwill 0 0 25,185,003 0
Imputed interest     0 807
Bad debt expense 5,927 0 108,392 0
Fair value of shares issued to consultants     45,000 490,000
Warrants issued to placement agent     0 3,783,130
Revaluation of contingent liability 0 0 0 321,889
Amortization of debt discounts 1,185,210 1,249,053 1,647,664 3,576,161
Warrants and Special Warrants issued to penalty     0 8,084,522
Units issued to placement agent     0 557,335
Non-cash offering costs of equity financing     0 403,588
Fair value of shares vested by officers 80,813 124,582 154,014 454,324
Depreciation and amortization expense 511,036 285,073 449,192 288,351
Expense from derivative triggering event     0 12,659
Fair value of shares issued in settlement   45,000 0 47,500
(25,750)      
2,498,706   0 0
Accounts receivable (121,955) 6,342 (106,230) (128,134)
Prepaid expenses and other current assets (158,949) (72,742) (122,936) (292,769)
Inventory (394,414) 16,503 171,591 (340,880)
Interest receivable 2,500 (221,195) (224,517) (178,258)
Right of use asset 266,734 1,215,397 1,300,392 0
Accounts payable and accrued expenses 6,865 (166,468) (74,319) (484,609)
Accrued compensation     0 (120,417)
Accrued interest, related party     0 (362)
Deferred rent     0 1,667
Accrued interest 258,113 934,117 1,300,715 995,941
Due to related parties     0 (17,930)
Contingent liability (150,000)   (850,000) 0
Operating lease liability (314,311) (1,101,532) (1,202,259) 0
Net cash used in operating activities (2,056,659) (1,871,343) (3,162,965) (10,164,542)
CASH FLOWS FROM INVESTING ACTIVITIES        
Payments to purchase property, plant and equipment (181,266) (1,766,185) (1,923,338) (1,037,262)
Payments to purchase intangible assets     (22,030) 0
Loan made to borrower under note receivable   (175,000) (175,000) (5,150,000)
Proceeds from collection of note receivable 1,544,291 325,000 1,682,278 0
Payment for investment in Alternative Solutions     0 (5,982,710)
Net cash used in investing activities 1,363,025 (1,616,185) (438,090) (12,169,972)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from convertible note payable     0 18,369,000
Principal payments on notes payable   (3,999,168) (3,999,168) (1,060,000)
Principal payments on related party notes payable     0 (137)
Principal payments on convertible notes payable     0 (37,500)
Principal payments on notes payable   (3,999,168) (3,999,168) (1,060,000)
Proceeds from sale of equity     0 15,535,978
Net cash provided by financing activities   (3,999,168) (3,999,168) 32,807,341
Net increase in cash and cash equivalents (693,634) (7,486,696) (7,600,223) 10,472,827
Cash and cash equivalents at beginning of period 2,925,568 10,525,791 10,525,791 52,964
Cash and cash equivalents at end of period 2,231,934 3,039,095 2,925,568 10,525,791
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:        
Interest paid 943,817 307,612 307,612 8,964
Income taxes paid     0 0
NONCASH INVESTING AND FINANCING ACTIVITIES:        
Common stock issued for services, previously accrued     0 17,500
Capitalized interest on convertible debentures 212,601 1,144,762 1,553,082 491,230
Convertible note issued for unpaid accrued salary     0 75,000
Beneficial conversion feature on convertible notes     0 5,888,707
Note payable exchanged for common stock     0 1,295,690
Charge to paid-in capital for par value of shares issued in cashless exercise of warrants     0 3,362
Reclassify derivative liability to paid-in capital upon adoption of ASU 2017-11     0 1,265,751
Adoption of lease standard ASU 2016-02   1,781,446 2,675,310 0
Reclassification of deposit to fixed assets   136,190 281,966 0
Common stock issued for conversion of convertible notes payable   $ 25,857 25,857 1,295,690
Shares issued for services from stock payable $ 122,720   0 25,313
Capitalized interest on note receivable     399,453 0
Non-Related Party Debt [Member]        
NONCASH INVESTING AND FINANCING ACTIVITIES:        
Common stock issued for conversion of convertible notes payable     $ 25,857 $ 0