Joint Venture and Options Transaction (Details)
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3 Months Ended |
9 Months Ended |
12 Months Ended |
May 17, 2022
USD ($)
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Oct. 20, 2021
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a
ft²
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Jun. 14, 2021
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Mar. 01, 2020
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Feb. 26, 2020 |
Oct. 31, 2018
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Feb. 28, 2023
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Feb. 28, 2022
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Feb. 28, 2023
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Feb. 28, 2022
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May 31, 2022
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May 31, 2021
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May 31, 2020
USD ($)
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Joint Venture and Options Transaction (Details) [Line Items] |
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Financing Receivable, after Allowance for Credit Loss, Current |
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$ 3,000,000
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$ 5,000,000
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Note Receivable, Interest Rate, Stated Percentage |
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6.00%
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Proceeds from Collection of Notes Receivable |
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$ 348,165
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$ 2,218,574
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$ 2,740,820
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Asset Impairment Charges |
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$ 2,498,706
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Lessee, Operating Lease, Term of Contract |
9 years
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9 years
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Operating Lease, Expense |
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$ 82,858
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$ 73,874
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244,021
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323,218
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Area of Real Estate Property (in Square Feet) | a |
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20
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Payments to Acquire Equity Method Investments |
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297,149
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0
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Payments to Acquire Property, Plant, and Equipment |
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141,465
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165,875
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Net Income (Loss) Attributable to Parent |
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(899,515)
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(992,268)
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(10,263,947)
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(910,141)
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Income (Loss) from Equity Method Investments |
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$ (22,476)
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$ 0
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(176,587)
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$ 0
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$ (112,139)
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Inventory Transferred |
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$ 952,125
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Minimum [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Lessee, Operating Lease, Term of Contract |
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1 year
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1 year
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Operating Lease, Expense |
$ 3,500
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$ 3,500
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Maximum [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Lessee, Operating Lease, Term of Contract |
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10 years 6 months
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10 years 6 months
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Quinn River Joint Venture Agreement [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Equity Method Investment, Ownership Percentage |
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50.00%
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Lessee, Operating Lease, Term of Contract |
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10 years
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Lessee, Operating Lease, Renewal Term |
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10 years
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Joint Venture, Description |
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” The Company will provide up to 10,000 square feet of warehouse space at its Las Vegas facility for the Quinn River Joint Venture product, and has preferred vendor status, including the right to purchase cannabis flower and the business’s cannabis trim at favorable prices. Kealii Okamalu is expected to contribute up to $6 million (the “Invested Amount”) towards the construction of the Cultivation Facility and the working capital for the Quinn River Joint Venture. This amount will be repaid from the portion of the net profits of the Quinn River Joint Venture otherwise payable to CSI and the Tribe at the rate of $750,000 per quarter for eight quarters. After repayment of the Invested Amount, Kealii Okamalu will receive one-third of the net profits of the Quinn River Joint Venture.
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Kealii Okamalu is expected to ultimately contribute $6 million towards the construction of the Cultivation Facility and the working capital for the Quinn River Joint Venture. This amount will be repaid from a portion of the net income of the Quinn River Joint Venture otherwise payable to CSI and the Tribe at the rate of $750,000 per quarter for eight quarters. After repayment to Kealii Okamalu of the initial investment amount of approximately $6 million, Kealii Okamalu will receive one-third of the net profits of the Quinn River Joint Venture.
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Area of Real Estate Property (in Square Feet) | ft² |
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10,000
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Payments to Acquire Equity Method Investments |
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$ 581,714
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$ 1,249,273
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Payments to Acquire Property, Plant, and Equipment |
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84,327
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$ 949,939
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Net Income (Loss) Attributable to Parent |
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529,761
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336,416
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Income (Loss) from Equity Method Investments |
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176,587
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Equity Method Investments |
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$ 590,137
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590,137
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469,575
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Quinn River Joint Venture Agreement [Member] | Minimum [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Area of Land (in Acres) | a |
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20
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Operating Lease, Expense |
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$ 3,500
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Quinn River Joint Venture Agreement [Member] | Maximum [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Area of Land (in Acres) | a |
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30
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In Good Health [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Business Combination, Consideration Transferred |
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$ 47,500,000
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Payments to Acquire Businesses, Gross |
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35,000,000
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Business Combination, Consideration Transferred, Liabilities Incurred |
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7,500,000
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Interest Income, Operating |
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149,972
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$ 296,450
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Interest Costs Capitalized |
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$ 399,453
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0
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399,453
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Proceeds from Collection of Notes Receivable |
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348,165
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2,740,820
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1,696,765
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1,425,000
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Option Agreement, Brake-Up Fee |
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$ 2,500,000
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Interest Rate, Default |
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15.00%
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15.00%
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In Good Health [Member] | Option Agreement [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Business Combination, Consideration Transferred |
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$ 47,500,000
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Payments to Acquire Businesses, Gross |
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35,000,000
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Business Combination, Consideration Transferred, Liabilities Incurred |
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7,500,000
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Business Combination, Consideration Transferred, Other |
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$ 2,500,000
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Debt Instrument, Term |
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5 years
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In Good Health [Member] | Restricted Stock [Member] | Option Agreement [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Equity Issued in Business Combination, Fair Value Disclosure |
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$ 5,000,000
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In Good Health [Member] | Principal [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Proceeds from Collection of Notes Receivable |
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333,333
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2,666,670
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1,544,291
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1,357,278
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Asset Impairment Charges |
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2,497,884
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In Good Health [Member] | Accrued Interest [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Proceeds from Collection of Notes Receivable |
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$ 14,832
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$ 74,150
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152,473
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$ 67,722
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Asset Impairment Charges |
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$ 822
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In Good Health [Member] | Due And Payable On Or Before June 21, 2021 [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Proceeds from Collection of Notes Receivable |
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500,000
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In Good Health [Member] | Due And Payable On Or Before July 12, 2021 [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Proceeds from Collection of Notes Receivable |
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500,000
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In Good Health [Member] | Due And Payable In12 Monthly Installments [Member] |
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Joint Venture and Options Transaction (Details) [Line Items] |
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Proceeds from Collection of Notes Receivable |
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2,000,000
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Payments to Acquire Notes Receivable |
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$ 2,000,000
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