Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.4
Right to Use Assets and Liabilities – Operating Leases (Tables)
 6 Months Ended
Nov. 30, 2022
Disclosure Text Block [Abstract]  
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Table Text Block]

Right of use assets – operating leases are summarized below:

 

   

November 30,

2022

  

Amount at inception of leases

   $ 4,159,621  

Amount amortized

     (2,132,426

)

Balance – November 30, 2022

   $ 2,027,195  

 
Lease, Cost [Table Text Block]

Operating lease liabilities are summarized below:

 

Amount at inception of leases

   $ 4,116,221  

Amount amortized

     (2,027,222

)

Balance – November 30, 2022

   $ 2,088,999  

 

Warehouse and offices

   $ 1,808,834  

Land

     211,211  

Office equipment

     7,150  

Balance – November 30, 2022

   $ 2,027,195  
         
         

Lease liability

   $ 2,088,999  

Less: current portion

     (352,162

)

Lease liability, non-current

   $ 1,736,837  

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

Maturity analysis under these lease agreements is as follows:

 

Twelve months ended November 30, 2023

   $ 521,105  

Twelve months ended November 30, 2024

     526,348  

Twelve months ended November 30, 2025

     522,901  

Twelve months ended November 30, 2026

     301,547  

Twelve months ended November 30, 2027

     229,320  

Thereafter

     626,435  

Total

   $ 2,727,656  

Less: Present value discount

     (638,657

)

Lease liability

   $ 2,088,999