Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Right to Use Assets and Liabilities - Operating Leases (Tables)

v3.19.3
Note 10 - Right to Use Assets and Liabilities - Operating Leases (Tables)
 3 Months Ended
Aug. 31, 2019
Disclosure Text Block [Abstract]  
Lessee, Operating Lease, Disclosure [Table Text Block]
Right to use assets – operating leases are summarized below:

   

August 31,

2019

  

Amount at inception of leases

   $ 1,781,446  

Amount amortized

     (1,034,847

)

Balance - August 31, 2019

   $ 746,599  
Lease, Cost [Table Text Block]
Operating lease liabilities are summarized below:

Amount at inception of leases

   $ 1,781,446  

Amount amortized

     (893,301

)

Balance - August 31, 2019

   $ 888,145  
   

August 31,

2019

  

Warehouses and offices

     888,145  

Lease liability

   $ 888,145  

Less: current portion

     (437,808

)

Lease liability, non-current

   $ 450,337  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity analysis under these lease agreements is as follows:

Twelve months ended August 31, 2020

   $ 493,321  

Twelve months ended August 31, 2021

     282,398  

Twelve months ended August 31, 2022

     111,242  

Twelve months ended August 31, 2023

     95,010  

Twelve months ended August 31, 2024

     -  

Thereafter

     -  

Total

   $ 981,971  

Less: Present value discount

     (93,826

)

Lease liability

   $ 888,145