CLS Holdings USA, Inc. General form of registration statement for all companies including face-amount certificate companies

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

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

12 Months Ended

Feb. 28, 2019

May 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following summarizes the Company’s financial liabilities that are recorded at fair value on a recurring basis at February 28, 2019 and May 31, 2018:

	February 28, 2019
	Level 1		Level 2		Level 3		Total
Liabilities
Contingent liabilities	$	-	$	-	$	678,111	$	678,111

	May 31, 2018
	Level 1		Level 2		Level 3		Total
Liabilities
Derivative liabilities	$	-	$	-	$	1,265,751	$	1,265,751

The following summarizes the Company’s derivative financial liabilities that are recorded at fair value on a recurring basis at May 31, 2018 and 2017.

	May 31, 2018
	Level 1		Level 2		Level 3		Total
Liabilities
Derivative liabilities	$	-	$	-	$	1,265,751	$	1,265,751

	May 31, 2017
	Level 1		Level 2		Level 3		Total
Liabilities
Derivative liabilities	$	-	$	-	$	95,276	$	95,276

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The estimated fair values of the Company’s derivative liabilities are as follows:

	Derivative
	Liability
Liabilities Measured at Fair Value

Balance as of May 31, 2018	$	1,265,751

Transfers out due to the adoption of ASU 2017-11 effective June 1, 2018		(1,265,751	)

Balance as of February 28, 2019	$	-

The estimated fair values of the Company’s derivative liabilities are as follows:

	Derivative
	Liability
Liabilities Measured at Fair Value

Balance as of May 31, 2016	$	418,537

Issuances		600,564

Convert or Redeem		(612,850	)

Revaluation gain		(310,975	)

Balance as of May 31, 2017	$	95,276

Issuances		3,671,505

Convert or Redeem		(2,696,755	)

Revaluation loss		195,725

Balance as of May 31, 2018	$	1,265,751