Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Feb. 28, 2025
May 31, 2024
Current assets    
Cash and cash equivalents $ 220,683 $ 600,007
Accounts Receivable 1,232,764 682,894
Inventory 1,379,323 1,968,573
Prepaid expenses and other current assets 61,402 49,309
Total current assets 2,894,172 3,300,783
Property, plant and equipment, net of accumulated depreciation of $3,688,783 and $3,318,550 2,072,230 2,423,553
Right of use assets, operating leases 1,277,125 1,475,351
Intangible assets, net of accumulated amortization of $350,492 and $348,015 7,501 9,978
Goodwill 557,896 557,896
Other assets 157,500 157,500
Total assets 6,966,424 7,925,061
Current liabilities    
Accounts payable and accrued liabilities 4,293,446 3,356,059
Accrued interest 3,600 3,600
Lease liability - operating leases, current 510,480 443,467
Lease liability - financing leases, current 112,735 96,224
Taxes Payable 10,331,192 8,899,863
Total current liabilities 17,480,430 14,229,035
Noncurrent liabilities    
Lease liability - operating leases, non-current 1,054,551 1,318,644
Lease liability - financing leases, non-current 10,040 100,252
Total Liabilities 19,510,614 20,833,859
Commitments and contingencies 0 0
Stockholder’s deficit    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued 0 0
Common stock, $0.0001 par value; 345,000,000 shares authorized; 164,734,517 and 124,500,873 shares issued and outstanding at February 28, 2025 and May 31, 2024, respectively 16,474 12,450
Additional paid-in capital 103,067,597 101,519,599
Common stock subscribed 65,702 65,702
Accumulated deficit (114,554,464) (113,367,050)
Stockholder’s deficit attributable to CLS Holdings, Inc. (11,404,691) (11,769,299)
Non-controlling interest (1,139,499) (1,139,499)
Total stockholder’s deficit (12,544,190) (12,908,798)
Total liabilities and stockholders’ deficit 6,966,424 7,925,061
Related Party [Member]    
Current liabilities    
Due to related party 40,000 0
Notes payable, current 2,008,209 988,472
Noncurrent liabilities    
Notes payable, non-current 921,009 1,078,551
Nonrelated Party [Member]    
Current liabilities    
Notes payable, current 180,768 139,345
Convertible notes payable, current 0 302,005
Noncurrent liabilities    
Notes payable, non-current 44,584 407,951
Convertible notes payable, non-current $ 0 $ 3,699,426