CLS Holdings USA, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

LEASE LIABILITIES - FINANCING LEASES (Tables)

LEASE LIABILITIES - FINANCING LEASES (Tables)

12 Months Ended

May 31, 2024

Disclosure Text Block [Abstract]

Finance Lease [Table Text Block]

		May 31, 2024				May 31, 2023
Financing lease obligation under a lease agreement for extraction equipment dated March 14, 2022 in the original amount of $359,900 payable in forty-eight monthly installments of $10,173 including interest at the rate of 15.89%. During the year ended May 31, 2024, the Company made principal and interest payments on this lease obligation in the amounts of $84,064 and $38,012, respectively.		$	193,117			$	277,180

Financing lease obligation under an agreement for equipment dated June 20, 2022 in the original amount of $12,400 payable in forty-eight monthly installments of $350 including interest at a rate of $9.97%. During the year ended May 31, 2024, equipment with a book value of $5,033 was returned. During the year ended May 31, 2024, the Company made principal and interest payments on this lease obligation in the amounts of $1,673 and $427, respectively.		$	3,359				9,987

Total		$	196,476			$	287,167

Current portion		$	96,224			$	86,887
Long-term maturities			100,252				200,280
Total		$	196,476			$	287,167

Finance Lease, Liability, to be Paid, Maturity [Table Text Block]

Aggregate maturities of lease liabilities – financing leases as of May 31, 2024 are as follows:

2025		$	100,252
2026			96,224
Total		$	196,476