Quarterly report pursuant to Section 13 or 15(d)

Nature of Business and Significant Accounting Policies (Tables)

v3.20.4
Nature of Business and Significant Accounting Policies (Tables)
 6 Months Ended
Nov. 30, 2020
Nature of Business and Significant Accounting Policies (Tables) [Line Items]  
Property, Plant and Equipment [Table Text Block]
Property, plant and equipment consisted of the following at November 30, 2020 and May 31, 2020.


   

November 30, 

2020

    

May 31,

2020

  

Office equipment

   $ 116,090     $ 94,887  

Furniture and fixtures

     145,103       144,025  

Machinery & Equipment

     1,776,316       1,741,830  

Leasehold improvements

     2,769,219       2,662,967  

Less: accumulated depreciation

     (1,151,948

)

     (868,200

)

Property, plant, and equipment, net

   $ 3,654,780     $ 3,775,509  
Disaggregation of Revenue [Table Text Block]
The following table represents a disaggregation of revenue for the three and six months ended November 30, 2020 and 2019:


   

For the Six

    

For the Six

    

For the Three

    

For the Three

  
   

Months Ended

    

Months Ended

    

Months Ended

    

Months Ended

  
   

November 30, 2020

    

November 30, 2019

    

November 30, 2020

    

November 30, 2019

  

Cannabis Dispensary

     6,818,499       4,398,262       3,732,974       2,312,362  

Cannabis Production

     1,870,259       1,517,184       1,174,915       744,069  
      8,688,758       5,915,446       4,907,889       3,056,431  
Estimated Useful LIfe [Member]  
Nature of Business and Significant Accounting Policies (Tables) [Line Items]  
Property, Plant and Equipment [Table Text Block]
Property and equipment is recorded at the lower of cost or estimated net recoverable amount, and is depreciated using the straight-line method over its estimated useful life. Property acquired in a business combination is recorded at estimated initial fair value. Property, plant, and equipment are depreciated using the straight-line method based on the lesser of the estimated useful lives of the assets or the lease term based upon the following life expectancy:


   

Years

  

Office equipment

     3 to 5  

Furniture & fixtures

     3 to 7  

Machinery & equipment

     3 to 10  

Leasehold improvements

  

Term of lease