Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.21.1
Property, Plant and Equipment
 9 Months Ended
Feb. 28, 2021
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 February 28, 2021 and May 31, 2020.


   

February 28, 

2021

    

May 31,

2020

  

Office equipment

   $ 115,616     $ 94,887  

Furniture and fixtures

     145,103       144,025  

Machinery & Equipment

     1,785,906       1,741,830  

Leasehold improvements

     2,778,350       2,662,967  

Less: accumulated depreciation

     (1,291,937

)

     (868,200

)

Property, plant, and equipment, net

   $ 3,533,038     $ 3,775,509  

During the nine months ended February 28, 2021 and February 29, 2020, the Company made payments in the amounts of $181,266 and $1,766,185, respectively, for property, plant, and equipment. Also, during the nine months ended February 28, 2021 and February 29, 2020, 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 $139,989 and $87,025 for the three months ended February 28, 2021 and February 29, 2020 respectively. Depreciation of property, plant, and equipment was $423,737 and $198,788 for the nine months ended February 28, 2021 and February 29, 2020, respectively.