Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Nov. 30, 2023
May 31, 2023
Current assets    
Cash and cash equivalents $ 1,759,671 $ 998,421
Accounts Receivable 933,011 431,204
Inventory 2,641,853 3,012,932
Prepaid expenses and other current assets 70,188 148,953
Total current assets 5,404,723 4,591,510
Property, plant and equipment, net of accumulated depreciation of $3,004,396 and $2,687,146 2,640,075 2,913,077
Right of use assets, operating leases 1,680,052 1,641,577
Intangible assets, net of accumulated amortization of $164,406 and $588,217 193,587 209,088
Goodwill 557,896 557,896
Other assets 215,675 157,500
Total assets 10,692,008 10,070,648
Current liabilities    
Accounts payable and accrued liabilities 3,724,530 2,728,572
Accrued interest, current 850,692 634,594
Loans payable 0 471,380
Lease liability - operating leases, current 423,925 374,004
Lease liability - financing leases, current 94,469 86,887
Taxes Payable 7,686,021 6,752,457
Notes payable 2,022,916 1,439,584
Convertible notes payable - current, net of discount of $206,400 and $0 3,749,760 2,952,160
Convertible notes payable, related party - current 3,749,760 2,952,160
Total current liabilities 19,453,204 16,340,529
Noncurrent liabilities    
Lease liability - operating leases, non-current 1,538,974 1,544,283
Lease liability - financing leases, non-current 150,767 200,280
Notes payable, non-current, net of discount of $576,903 and $1,291,887 1,298,097 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 26,194,093 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; 350,000,000 shares authorized at November 30, 2023 and 187,500,000 at May 31, 2023; 72,543,141 shares issued and outstanding at November 30, 2023 and May 31, 2023 7,255 7,255
Additional paid-in capital 96,210,184 96,147,784
Common stock subscribed 65,702 65,702
Accumulated deficit (110,645,559) (108,879,446)
Stockholder's deficit attributable to CLS Holdings, Inc. (14,362,418) (12,658,705)
Non-controlling interest (1,139,667) (1,141,867)
Total stockholder's deficit (15,502,085) (13,800,572)
Total liabilities and stockholders' deficit 10,692,008 10,070,648
Related Party [Member]    
Current liabilities    
Convertible notes payable - current, net of discount of $206,400 and $0 900,891 900,891
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