Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.22.2.2
Property, Plant and Equipment
 3 Months Ended
Aug. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 8 – Property, Plant and Equipment

 

Property, plant and equipment consisted of the following at August 31, 2022 and May 31, 2022:

 

   

August 31,

2022

    

May 31,

2022

  

Office equipment

   $ 134,463     $ 132,859  

Furniture and fixtures

     148,358       148,358  

Machinery & Equipment

     2,522,441       2,447,715  

Leasehold improvements

     3,698,854       3,686,951  

Less: accumulated depreciation

     (2,281,639

)

     (2,073,449

)

Property, plant, and equipment, net

   $ 4,222,477     $ 4,342,434  

 

The Company made payments in the amounts of $88,233 and $92,979 for property and equipment during the three months ended August 31, 2022 and May 31, 2022, respectively.

 

Depreciation expense totaled $208,190 and $147,878 for the three months ended August 31, 2022 and May 31, 2022, respectively.