Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.4
Right to Use Assets and Liabilities – Operating Leases (Tables)
 6 Months Ended
Nov. 30, 2020
Disclosure Text Block [Abstract]  
Lessee, Operating Lease, Disclosure [Table Text Block]
Right to use assets – operating leases are summarized below:


   

November 30,

2020

  

Amount at inception of leases

   $ 2,703,821  

Amount amortized

     (1,476,119

)

Balance – November 30, 2020

   $ 1,227,702  
Lease, Cost [Table Text Block]
Operating lease liabilities are summarized below:


Amount at inception of leases

   $ 2,675,310  

Amount amortized

     (1,409,668

)

Balance – November 30, 2020

   $ 1,265,642  
   

November 30,

2020

  

Warehouses and offices

   $ 1,265,642  

Lease liability

   $ 1,265,642  

Less: current portion

     (176,275

)

Lease liability, non-current

   $ 1,089,367  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity analysis under these lease agreements is as follows:


Twelve months ended November 30, 2021

   $ 268,577  

Twelve months ended November 30, 2022

     178,570  

Twelve months ended November 30, 2023

     167,234  

Twelve months ended November 30, 2024

     172,035  

Twelve months ended November 30, 2025

     176,980  

Thereafter

     810,327  

Total

   $ 1,773,723  

Less: Present value discount

     (508,081

)

Lease liability

   $ 1,265,642