Quarterly report pursuant to Section 13 or 15(d)

Right to Use Assets and Liabilities ??? Operating Leases (Tables)

v3.20.2
Right to Use Assets and Liabilities – Operating Leases (Tables)
 3 Months Ended
Aug. 31, 2020
Disclosure Text Block [Abstract]  
Lessee, Operating Lease, Disclosure [Table Text Block]
Right to use assets – operating leases are summarized below:


   

August 31,

2020

  

Amount at inception of leases

   $ 2,703,821  

Amount amortized

     (1,387,222

)

Balance – August 31, 2020

   $ 1,316,599  
Lease, Cost [Table Text Block]
Operating lease liabilities are summarized below:


Amount at inception of leases

   $ 2,675,310  

Amount amortized

     (1,304,876

)

Balance – August 31, 2020

   $ 1,370,434  
   

August 31,

2020

  

Warehouses and offices

   $ 1,370,434  

Lease liability

   $ 1,370,434  

Less: current portion

     (257,384

)

Lease liability, non-current

   $ 1,113,050  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity analysis under these lease agreements is as follows:


Twelve months ended August 31, 2021

   $ 354,295  

Twelve months ended August 31, 2022

     183,429  

Twelve months ended August 31, 2023

     166,060  

Twelve months ended August 31, 2024

     170,826  

Twelve months ended August 31, 2025

     175,735  

Thereafter

     854,884  

Total

   $ 1,905,229  

Less: Present value discount

     (534,795

)

Lease liability

   $ 1,370,434