Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Feb. 28, 2023
May 31, 2022
Current assets    
Cash and cash equivalents $ 887,812 $ 2,551,859
Accounts Receivable 718,382 618,227
Inventory 4,349,463 3,417,602
Prepaid expenses and other current assets 183,742 295,869
Total current assets 6,139,399 6,883,557
Property, plant and equipment, net of accumulated depreciation of $2,703,369 and $2,073,449 3,853,979 4,342,434
Right of use assets, operating leases 1,938,198 2,154,517
Intangible assets, net of accumulated amortization of $559,502 and $473,308 1,104,091 1,190,285
Goodwill 557,896 557,896
Investments 590,137 469,575
Other assets 198,000 229,500
Total assets 14,381,700 15,827,764
Current liabilities    
Accounts payable and accrued liabilities 3,057,520 2,317,898
Accrued interest, current 478,472 419,206
Loans payable 949,902 1,013,073
Lease liability - operating leases, current 362,917 309,597
Lease liability - financing leases, current 80,818 71,813
Taxes Payable 6,083,810 4,531,782
Notes payable 1,250,000 0
Convertible notes payable - current 4,003,052 19,448,821
Total current liabilities 16,266,491 28,112,190
Noncurrent liabilities    
Lease liability - operating leases, non-current 1,643,224 1,893,810
Lease liability - financing leases, non-current 215,389 277,180
Notes payable, non-current, net of discount of $1,097,113 and $1,681,434 2,027,887 2,693,566
Convertible Notes payable, non-current 3,753,050 0
Total Liabilities 23,906,041 32,976,746
Commitments and contingencies 0 0
Stockholder's deficit    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued 0 0
Common stock, $0.0001 par value; 187,500,000 shares authorized at February 28, 2023 and May 31, 2022; 72,518,142 and 32,052,021 shares issued and outstanding at February 28, 2023 and May 31, 2022 7,253 3,206
Additional paid-in capital 96,142,740 77,954,748
Common stock subscribed 70,092 70,092
Accumulated deficit (105,343,764) (95,079,817)
Stockholder's deficit attributable to CLS Holdings, Inc. (9,123,679) (17,051,771)
Non-controlling interest (400,662) (97,211)
Total stockholder's deficit (9,524,341) (17,148,982)
Total liabilities and stockholders' deficit $ 14,381,700 $ 15,827,764