Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.23.4
Property, Plant and Equipment
 6 Months Ended
Nov. 30, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 8: Property, Plant and Equipment

 

Property, plant and equipment consisted of the following at November 30, 2023 and May 31, 2023:

 

   

November 30,

2023

    

May 31,

2023

  

Office equipment

   $ 158,151     $ 148,243  

Furniture and fixtures

     148,358       148,358  

Machinery & Equipment

     2,426,798       2,392,458  

Leasehold improvements

     2,911,164       2,911,164  

Less: accumulated depreciation

     (3,004,396

)

     (2,687,146

)

Property, plant, and equipment, net

   $ 2,640,075     $ 2,913,077  

 

The Company made payments in the amounts of $44,248 and $138,476 for property and equipment during the six months ended November 30, 2023 and 2022, respectively.

 

Depreciation expense totaled $158,497 and $208,190 for the three months ended November 30, 2023 and 2022, respectively. Depreciation expense totaled $317,250 and $208,190 for the six months ended November 30, 2023 and 2022, respectively.