Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.24.3
Property, Plant and Equipment
3 Months Ended
Aug. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 6: Property, Plant and Equipment

 

Property, plant and equipment consisted of the following at August 31, 2024 and May 31, 2024:

 

   

August 31,

2024

   

May 31,

2024

 

Office equipment

  $ 163,126     $ 163,126  

Furniture and fixtures

    148,358       148,358  

Machinery & Equipment

    2,519,455       2,519,455  

Leasehold improvements

    2,911,164       2,911,164  

Less: accumulated depreciation

    (3,452,211 )     (3,318,550 )

Property, plant, and equipment, net

  $ 2,289,892     $ 2,423,553  

 

The Company made payments in the amounts of $0 and $20,683 for property and equipment during the three months ended August 31, 2024 and 2023, respectively.

 

Depreciation expense totaled $133,661 and $158,723 for the three months ended August 31, 2024 and 2023, respectively.