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

Quarterly report pursuant to Section 13 or 15(d)

Nature of Business and Significant Accounting Policies (Tables)

Nature of Business and Significant Accounting Policies (Tables)

9 Months Ended

Feb. 28, 2023

Nature of Business and Significant Accounting Policies (Tables) [Line Items]

Property, Plant and Equipment [Table Text Block]

Property, plant and equipment consisted of the following at February 28, 2023 and May 31, 2022:

	February 28, 2023			May 31, 2022
Office equipment	$	136,476		$	132,859
Furniture and fixtures		148,358			148,358
Machinery & Equipment		2,561,290			2,447,715
Leasehold improvements		3,711,224			3,686,951
Less: accumulated depreciation		(2,703,369	)		(2,073,449	)
Property, plant, and equipment, net	$	3,853,979		$	4,342,434

Disaggregation of Revenue [Table Text Block]

The following table represents a disaggregation of revenue for the three and nine months ended February 28, 2023 and 2022:

	For the Three		For the Three
	Months Ended		Months Ended
	February 28, 2023		February 28, 2022
Cannabis Dispensary		3,592,261		3,333,229
Cannabis Production		1,908,014		2,255,037
	$	5,437,302	$	5,588,266

	For the Nine		For the Nine
	Months Ended		Months Ended
	February 28, 2023		February 28, 2022
Cannabis Dispensary		11,210,622		10,670,203
Cannabis Production		6,345,784		5,832,775
	$	17,556,406	$	16,502,978

Estimated Useful LIfe [Member]

Nature of Business and Significant Accounting Policies (Tables) [Line Items]

Property, Plant and Equipment [Table Text Block]

Property and equipment is recorded at the lower of cost or estimated net recoverable amount, and is depreciated using the straight-line method over its estimated useful life. Property acquired in a business combination is recorded at estimated initial fair value. Property, plant, and equipment are depreciated using the straight-line method based on the lesser of the estimated useful lives of the assets or the lease term based upon the following life expectancy:

	Years
Office equipment		3 to 5
Furniture & fixtures		3 to 7
Machinery & equipment		3 to 10
Leasehold improvements	Term of lease