Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Aug. 31, 2022
May 31, 2022
Statement of Financial Position [Abstract]    
Cash and cash equivalents $ 592,040 $ 2,551,859
Accounts Receivable 739,169 618,227
Inventory 4,216,309 3,417,602
Prepaid expenses and other current assets 418,449 295,869
Total current assets 5,965,967 6,883,557
Property, plant and equipment, net of accumulated depreciation of $2,281,639 and $2,073,449 4,222,477 4,342,434
Right of use assets, operating leases 2,114,513 2,154,517
Intangible assets, net of accumulated amortization of $502,053 and $473,308 1,161,540 1,190,285
Goodwill 557,896 557,896
Investments 1,040,379 469,575
Other assets 219,000 229,500
Total assets 15,281,772 15,827,764
Current liabilities    
Accounts payable and accrued liabilities 2,408,304 2,317,898
Accrued interest, current 311,498 419,206
Loan payable 1,152,785 1,013,073
Lease liability - financing leases, current 74,697 71,813
Lease liability - operating leases, current 341,625 309,597
Taxes Payable 5,050,867 4,531,782
Convertible notes payable - current, net of discount of $0 and $0 19,448,821 19,448,821
Total current liabilities 28,788,597 28,112,190
Noncurrent liabilities    
Lease liability - operating leases, non-current 1,828,553 1,893,810
Lease liability - financing leases, non-current 257,389 277,180
Notes payable, net of discount of $1,486,660 and $1,681,434 2,888,340 2,693,566
Total Liabilities 33,762,879 32,976,746
Commitments and contingencies 0 0
Stockholder's deficit    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued 0 0
Common stock, $0.0001 par value; 187,500,000 shares authorized at August 31, 2022 and May 31, 2022; 32,052,021 and 32,052,021 shares issued and outstanding at August 31, 2022 and May 31, 2022 3,206 3,206
Additional paid-in capital 77,954,748 77,954,748
Common stock subscribed 70,092 70,092
Accumulated deficit (96,228,295) (95,079,817)
Stockholder's deficit attributable to CLS Holdings, Inc. (18,200,249) (17,051,771)
Non-controlling interest (280,858) (97,211)
Total stockholder's deficit (18,481,107) (17,148,982)
Total liabilities and stockholders' deficit $ 15,281,772 $ 15,827,764