PROPERTY, PLANT AND EQUIPMENT |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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May 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 May 31, 2024 and 2023:
The Company made payments in the amounts of $148,114 and $152,275 for property and equipment during the years ended May 31, 2024 and 2023, respectively. Additionally, during the period ended May 31, 2024, the company returned assets under a financing lease, with a net book value of $6,234, to the vendor.
Depreciation expense totaled $631,404 and $837,224 for the years ended May 31, 2024 and 2023, respectively.
During the year ended May 31, 2023, the Company recorded an impairment of the assets of Kealii Okamalu in the amount of $756,808. See note 4. |
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- References No definition available.
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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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