Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.23.2
CONSOLIDATED BALANCE SHEETS - USD ($)
May 31, 2023
May 31, 2022
Current assets    
Cash and cash equivalents $ 998,421 $ 2,551,859
Accounts Receivable 431,204 618,227
Inventory 3,012,932 3,417,602
Prepaid expenses and other current assets 148,953 295,869
Total current assets 4,591,510 6,883,557
Property, plant and equipment, net of accumulated depreciation of $2,687,146 and $2,073,449 2,913,077 4,342,434
Right of use assets, operating leases 1,641,577 2,154,517
Intangible assets, net of accumulated amortization of $588,217 and $473,308 209,088 1,190,285
Goodwill 557,896 557,896
Investments 0 469,575
Other assets 157,500 229,500
Total assets 10,070,648 15,827,764
Current liabilities    
Accounts payable and accrued liabilities 2,728,572 2,317,898
Accrued interest, current 634,594 419,206
Loans payable 471,380 1,013,073
Lease liability - operating leases, current 374,004 309,597
Lease liability - financing leases, current 86,887 71,813
Taxes Payable 6,752,457 4,531,782
Notes payable 1,439,584 0
Convertible notes payable - current 3,853,051 19,448,821
Total current liabilities 16,340,529 28,112,190
Noncurrent liabilities    
Lease liability - operating leases, non-current 1,544,283 1,893,810
Lease liability - financing leases, non-current 200,280 277,180
Notes payable, non-current, net of discount of $902,339 and $1,681,434 2,033,077 2,693,566
Convertible Notes payable, non-current 3,753,051 0
Total Liabilities 23,871,220 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 May 31, 2023 and 2022; 72,543,141 and 32,052,021 shares issued and outstanding at May 31, 2023 and 2022 7,255 3,206
Additional paid-in capital 96,147,784 77,954,748
Common stock subscribed 65,702 70,092
Accumulated deficit (108,879,446) (95,079,817)
Stockholder's deficit attributable to CLS Holdings, Inc. (12,658,705) (17,051,771)
Non-controlling interest (1,141,867) (97,211)
Total stockholder's deficit (13,800,572) (17,148,982)
Total liabilities and stockholders' deficit $ 10,070,648 $ 15,827,764