Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.20.2
Property, Plant and Equipment
 3 Months Ended
Aug. 31, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 9 – Property, Plant and Equipment


Property, plant and equipment consisted of the following at August 31, 2020 and May 31, 2020.


   

August 31, 

2020

    

May 31,

2020

  

Office equipment

   $ 109,369     $ 94,887  

Furniture and fixtures

     145,103       144,025  

Machinery & Equipment

     1,770,468       1,741,830  

Leasehold improvements

     2,703,690       2,662,967  

Less: accumulated depreciation

     (1,009,092

)

     (868,200

)

Property, plant, and equipment, net

   $ 3,719,538     $ 3,775,509  

During the three months ended August 31, 2020 and 2019, the Company made payments in the amounts of $84,921 and $923,199, respectively, for property, plant, and equipment. Also, during the three months ended August 31, 2020 and 2019, the Company applied $0 and $136,190 of deposits to the acquisition of fixed assets. See note 6.


Depreciation of property, plant, and equipment was $140,892 and $55,305 for the three months ended August 31, 2020 and 2019 respectively.