CLS Holdings USA, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Accounting Policies, by Policy (Policies)
Notes Tables
Notes Details

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

v3.21.4

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

6 Months Ended

Nov. 30, 2021

Disclosure Text Block [Abstract]

Lessee, Operating Lease, Disclosure [Table Text Block]

Right to use assets – operating leases are summarized below:

	November 30, 2021
Amount at inception of leases	$	4,112,876
Amount amortized		(1,791,712	)
Balance – November 30, 2021	$	2,321,164

Lease, Cost [Table Text Block]

Operating lease liabilities are summarized below:

Amount at inception of leases	$	4,069,476
Amount amortized		(1,713,628	)
Balance – November 30, 2021	$	2,355,848

Warehouse and offices	$	2,091,664
Land		220,738
Office equipment		8,762
Balance – November 30, 2021	$	2,355,848


Lease liability	$	2,355,848
Less: current portion		(306,464	)
Lease liability, non-current	$	2,049,384

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturity analysis under these lease agreements is as follows:

Twelve months ended November 30, 2022	$	498,901
Twelve months ended November 30, 2023		495,845
Twelve months ended November 30, 2024		509,175
Twelve months ended November 30, 2025		522,901
Twelve months ended November 30, 2026		301,548
Thereafter		855,723
Total	$	3,184,093
Less: Present value discount		(828,245	)
Lease liability	$	2,355,848

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

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