Annual report pursuant to Section 13 and 15(d)

RIGHT TO USE ASSETS AND LIABILITIES - OPERATING LEASES (Tables)

v3.21.2
RIGHT TO USE ASSETS AND LIABILITIES - OPERATING LEASES (Tables)
 12 Months Ended
May 31, 2021
Disclosure Text Block [Abstract]  
Lease, Cost [Table Text Block]
Right to use assets – operating leases are summarized below:


   

May 31,

2021

  

Amount at inception of leases

   $ 3,891,437  

Amount amortized

     (1,641,428

)

Balance – May 31, 2021

   $ 2,250,009  

Amount at inception of leases

   $ 3,848,038  

Amount amortized

     (1,581,619

)

Balance – May 31, 2021

   $ 2,266,419  
   

May 31,

2021

  

Warehouses and offices 

   $ 2,250,009  

Lease liability

   $ 2,266,419  

Less: current portion

     (287,125

)

Lease liability, non-current

   $ 1,979,294  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity analysis under these lease agreements is as follows:


Twelve months ended May 31, 2022

   $ 458,148  

Twelve months ended May 31, 2023

     449,071  

Twelve months ended May 31, 2024

     458,205  

Twelve months ended May 31, 2025

     471,732  

Twelve months ended May 31, 2026

     407,415  

Thereafter

     719,933  

Total

   $ 2,964,504  

Less: Present value discount

     (698,085

)

Lease liability

   $ 2,266,419