CLS Holdings USA, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Accounting Policies, by Policy (Policies)
Notes Tables
Notes Details

LOAN PAYABLE

LOAN PAYABLE	12 Months Ended
May 31, 2022
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	NOTE 15 – LOAN PAYABLE The Company is a party to an accounts receivable financing agreement with a lender (the “Short Term Financing Agreement”) for two of its subsidiaries. During the year ended May 31, 2022, the Company received cash proceeds in the amount of $2,322,875 from additional loans under the Short Term Financing Agreement, made payments in the amount of $1,393,966, and incurred fees in the amount of $84,164. At May 31, 2022, the balance due under the Short Term Financing Agreement was $1,013,073. The loans are due in 30 days, and have a discount fee of 3%.

LOAN PAYABLE

12 Months Ended

May 31, 2022

Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]

Other Liabilities Disclosure [Text Block]

NOTE 15 – LOAN PAYABLE

The Company is a party to an accounts receivable financing agreement with a lender (the “Short Term Financing Agreement”) for two of its subsidiaries. During the year ended May 31, 2022, the Company received cash proceeds in the amount of $2,322,875 from additional loans under the Short Term Financing Agreement, made payments in the amount of $1,393,966, and incurred fees in the amount of $84,164. At May 31, 2022, the balance due under the Short Term Financing Agreement was $1,013,073. The loans are due in 30 days, and have a discount fee of 3%.