CLS Holdings USA, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Nature of Business and Significant Accounting Policies (Tables)

Nature of Business and Significant Accounting Policies (Tables)

3 Months Ended

Aug. 31, 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 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

Disaggregation of Revenue [Table Text Block]

The following table represents a disaggregation of revenue for the three months ended August 31, 2020 and 2019:

	For the Three		For the Three
	Months Ended		Months Ended
	August 31, 2020		August 31, 2019
Cannabis Dispensary	$	3,085,525	$	2,085,900
Cannabis Production		695,344		773,115
	$	3,780,869	$	2,859,015

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