General form of registration statement for all companies including face-amount certificate companies

PROPERTY, PLANT AND EQUIPMENT

v3.19.2
PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended 12 Months Ended
Feb. 28, 2019
May 31, 2018
Property, Plant and Equipment [Abstract]    
Property, Plant and Equipment Disclosure [Text Block]

Note 10 – Property, Plant and Equipment


Property, plant and equipment consisted of the following at February 28, 2019 and May 31, 2018.


   

February 28, 

    

May 31,

  
   

2019

    

2018

  

Office equipment

     1,217,563       2,674  

Furniture and fixtures

     59,617       -  

Leasehold improvements

   $ 764,423     $ -  

Less: accumulated depreciation

     (494,439

)

     (2,674

)

Property, plant, and equipment, net

   $ 1,547,164     $ -  

During the nine months ended February 28, 2019, the Company acquired property, plant, and equipment with an aggregate fair value of $933,142 with the acquisition of Alternative Solutions, LLC. See note 3.


Depreciation of property, plant, and equipment was $45,045 and $223 for the three months ended February 28, 2019 and 2018 respectively. Depreciation of property, plant, and equipment was $121,212 and $669 for the nine months ended February 28, 2019 and 2018 respectively.

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT


Property, plant and equipment consisted of the following at May 31, 2018 and 2017.


   

May 31,

    

May 31,

  
   

2018

    

2017

  

Computer equipment

   $ 2,674     $ 2,674  

Property and equipment, gross 

     2,674       2,674  

Less: accumulated depreciation

     (2,674

)

     (1,784

)

Property and equipment, net 

   $ -     $ 890  

Depreciation expense totaled $890 and $892 for the years ended May 31, 2018 and 2017, respectively.