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

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Accounting Policies, by Policy (Policies)
Notes Tables
Notes Details

Goodwill

Goodwill	3 Months Ended
Aug. 31, 2023
Disclosure Text Block Supplement [Abstract]
Goodwill Disclosure [Text Block]	Note 11: Goodwill Goodwill in the amount of $557,896 is carried on the Company’s balance sheet at August 31, 2023 and May 31, 2023 in connection with the acquisition of Alternative Solutions on June 27, 2018. Goodwill Impairment Test The Company assessed its intangible assets as of May 31, 2022 and 2021 for purposes of determining if an impairment existed as set forth in ASC 350 – Intangibles – Goodwill and Other and ASC 360 – Property Plant and Equipment. Pursuant to ASC 360, the Company determined that the fair value of its intangible assets exceeded the carrying value of goodwill at August 31, 2023 and May 31, 2023. As a result, no impairment was recorded. At August 31, 2023 and May 31, 2023, the net amount of goodwill on the Company’s balance sheet was $557,896.

Goodwill

3 Months Ended

Aug. 31, 2023

Disclosure Text Block Supplement [Abstract]

Goodwill Disclosure [Text Block]

Note 11: Goodwill

Goodwill in the amount of $557,896 is carried on the Company’s balance sheet at August 31, 2023 and May 31, 2023 in connection with the acquisition of Alternative Solutions on June 27, 2018.

Goodwill Impairment Test

The Company assessed its intangible assets as of May 31, 2022 and 2021 for purposes of determining if an impairment existed as set forth in ASC 350 – Intangibles – Goodwill and Other and ASC 360 – Property Plant and Equipment. Pursuant to ASC 360, the Company determined that the fair value of its intangible assets exceeded the carrying value of goodwill at August 31, 2023 and May 31, 2023. As a result, no impairment was recorded. At August 31, 2023 and May 31, 2023, the net amount of goodwill on the Company’s balance sheet was $557,896.