Quarterly report pursuant to Section 13 or 15(d)

Lease Liabilities - Financing Leases (Tables)

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Lease Liabilities - Financing Leases (Tables)
 3 Months Ended
Aug. 31, 2024
Disclosure Text Block [Abstract]  
Finance Lease [Table Text Block]
   

August 31, 2024

    

May 31, 2024

  
                 

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 three months ended August 31, 2024, the Company made principal and interest payments on this lease obligation in the amounts of $23,168 and $7,431, respectively.

   $ 169,949     $ 193,117  
                 

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 15.78%. During the three months ended August 31, 2024, the Company made principal and interest payments on this lease obligation in the amounts of $445 and $80, respectively.

   $ 2,914       3,359  
                 

Total

   $ 172,863     $ 196,476  
                 

Current portion

   $ 104,251     $ 96,224  

Long-term maturities

     68,612       100,252  

Total

   $ 172,863     $ 196,476  
Finance Lease, Liability, to be Paid, Maturity [Table Text Block] Aggregate maturities of lease liabilities – financing leases as of August 31, 2024 are as follows:

2025

   $ 104,251  

2026

     68,612  

2027

     -  

2028

     -  

2029

     -  

Thereafter

     -  

Total

   $ 172,863