Annual report pursuant to Section 13 and 15(d)

RIGHT OF USE ASSETS AND LIABILITIES - OPERATING LEASES (Tables)

v3.23.2
RIGHT OF USE ASSETS AND LIABILITIES - OPERATING LEASES (Tables)
 12 Months Ended
May 31, 2023
Disclosure Text Block [Abstract]  
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Table Text Block] Right to use assets – operating leases are summarized below:
   

May 31,

2023

  

Amount at inception of leases

   $ 4,159,621  

Amount amortized

     (2,312,156

)

Impairment of Quinn River Lease

     (205,888

)

Balance – May 31, 2023

   $ 1,641,577  
Lease, Cost [Table Text Block]

Warehouse and offices

   $ 1,635,285  

Office equipment

     6,292  

Balance – May 31, 2023

   $ 1,641,577  

 

Amount at inception of leases

   $ 4,116,221  

Amount amortized

     (2,197,934

)

Balance – May 31, 2023

   $ 1,918,287  

Lease liability

   $ 1,918,287  

Less: current portion

     (374,004

)

Lease liability, non-current

   $ 1,544,283  
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] Maturity analysis under these lease agreements is as follows:

Twelve months ended May 31, 2024

   $ 528,100  

Twelve months ended May 31, 2025

     520,281  

Twelve months ended May 31, 2026

     451,671  

Twelve months ended May 31, 2027

     227,053  

Twelve months ended May 31, 2028

     232,001  

Thereafter

     509,752  

Total

   $ 2,468,858  

Less: Present value discount

     (550,571

)

Lease liability

   $ 1,918,287