Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.23.1
Goodwill
9 Months Ended
Feb. 28, 2023
Disclosure Text Block Supplement [Abstract]  
Goodwill Disclosure [Text Block]

Note 11 Goodwill

 

Goodwill in the amount of $557,896 is carried on the Company’s balance sheet at February 28, 2023 and May 31, 2022 in connection with the acquisition of Alternative Solutions on June 27, 2018.

 

Goodwill Impairment Test

 

The Company assessed its intangible assets as of May 31, 2022 and 2021 for purposes of determining if an impairment existed as set forth in ASC 350 – Intangibles – Goodwill and Other and ASC 360 – Property Plant and Equipment. Pursuant to ASC 360, the Company determined that the fair value of its intangible assets exceeded the carrying value of goodwill at February 28, 2023 and May 31, 2022. As a result, no impairment was recorded. At February 28, 2023 and May 31, 2022, the net amount of goodwill on the Company’s balance sheet was $557,896.