Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.1
Right to Use Assets and Liabilities – Operating Leases (Tables)
 9 Months Ended
Feb. 28, 2021
Disclosure Text Block [Abstract]  
Lessee, Operating Lease, Disclosure [Table Text Block]
Right to use assets – operating leases are summarized below:


   

February 28,

2021

  

Amount at inception of leases

   $ 2,703,821  

Amount amortized

     (1,567,126

)

Balance – February 28, 2021

   $ 1,136,695  
Lease, Cost [Table Text Block]
Operating lease liabilities are summarized below:


Amount at inception of leases

   $ 2,675,310  

Amount amortized

     (1,516,570

)

Balance – February 28, 2021

   $ 1,158,740  
   

February 28,

2021

  

Warehouses and offices

   $ 1,158,740  

Lease liability

   $ 1,158,740  

Less: current portion

     (93,532

)

Lease liability, non-current

   $ 1,065,208  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity analysis under these lease agreements is as follows:


Twelve months ended February 28, 2022

   $ 182,858  

Twelve months ended February 28, 2023

     173,710  

Twelve months ended February 29, 2024

     168,408  

Twelve months ended February 28, 2025

     173,244  

Twelve months ended February 28, 2026

     178,225  

Thereafter

     765,722  

Total

   $ 1,642,167  

Less: Present value discount

     (483,427

)

Lease liability

   $ 1,158,740