Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Aug. 31, 2023
May 31, 2023
Current assets    
Cash and cash equivalents $ 1,034,680 $ 998,421
Accounts Receivable 758,032 431,204
Inventory 3,051,484 3,012,932
Prepaid expenses and other current assets 125,148 148,953
Total current assets 4,969,344 4,591,510
Property, plant and equipment, net of accumulated depreciation of $2,845,872 and $2,687,146 2,775,034 2,913,077
Right of use assets, operating leases 1,551,841 1,641,577
Intangible assets, net of accumulated amortization of $156,656 and $588,217 201,337 209,088
Goodwill 557,896 557,896
Other assets 215,675 157,500
Total assets 10,271,127 10,070,648
Current liabilities    
Accounts payable and accrued liabilities 3,374,430 2,728,572
Accrued interest, current 756,820 634,594
Loans payable 78,537 471,380
Lease liability - operating leases, current 404,889 374,004
Lease liability - financing leases, current 90,871 86,887
Taxes Payable 7,229,981 6,752,457
Notes payable 1,754,168 1,439,584
Convertible notes payable - current 2,852,160 2,952,160
Convertible notes payable. related party - current 2,852,160 2,952,160
Total current liabilities 17,442,747 16,340,529
Noncurrent liabilities    
Lease liability - operating leases, non-current 1,426,479 1,544,283
Lease liability - financing leases, non-current 175,777 200,280
Notes payable, non-current, net of discount of $739,621 and $902,339 1,735,378 2,033,077
Convertible notes payable – non-current 2,852,159 2,852,159
Convertible notes payable, related party – non-current 2,852,159 2,852,159
Total Liabilities 24,533,432 23,871,220
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 August 31, 2023 and May 31, 2023; 72,543,141 and 72,543,141 shares issued and outstanding at August 31, 2023 and May 31, 2023 7,255 7,255
Additional paid-in capital 96,147,784 96,147,784
Common stock subscribed 65,702 65,702
Accumulated deficit (109,343,287) (108,879,446)
Stockholders’ deficit attributable to CLS Holdings, Inc. (13,122,546) (12,658,705)
Non-controlling interest (1,139,759) (1,141,867)
Total stockholders’ deficit (14,262,305) (13,800,572)
Total liabilities and stockholders' deficit 10,271,127 10,070,648
Related Party [Member]    
Current liabilities    
Convertible notes payable - current 900,891 900,891
Convertible notes payable. related party - current 900,891 900,891
Noncurrent liabilities    
Convertible notes payable – non-current 900,892 900,892
Convertible notes payable, related party – non-current $ 900,892 $ 900,892