| Lessee, Finance Leases [Text Block] |
Note 17 – Lease Liabilities - Financing Leases
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November 30,
2022
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May 31,
2022
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(unaudited)
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| Financing lease obligation under a lease agreement for extraction equipment dated March 14, 2022 in the original amount of $359,900 payable in forty-eight monthly installments of $10,173 including interest at the rate of 15.89%. During the three months ended November 30, 2022, the Company made principal and interest payments on this lease obligation in the amounts of $17,586 and $12,933, respectively. During the six months ended November 30, 2022, the Company made principal and interest payments on this lease obligation in the amounts of $34,493 and $27,224, respectively. |
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$ |
314,500 |
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$ |
348,993 |
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Total
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$ |
314,500 |
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$ |
348,993 |
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Current portion
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$ |
77,697 |
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$ |
71,813 |
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Long-term maturities
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|
236,803 |
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|
277,180 |
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Total
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$ |
314,500 |
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$ |
348,993 |
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Aggregate maturities of lease liabilities – financing leases as of November 30, 2022 are as follows:
For the period ended November 30,
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2023
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$
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77,697 |
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2024
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90,952 |
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2025
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106,468 |
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2026
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|
39,383 |
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2027
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- |
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Thereafter
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- |
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Total
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$
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314,500 |
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