Annual report pursuant to Section 13 and 15(d)

RIGHT TO USE ASSETS AND LIABILITIES - OPERATING LEASES (Tables)

v3.20.2
RIGHT TO USE ASSETS AND LIABILITIES - OPERATING LEASES (Tables)
 12 Months Ended
May 31, 2020
Disclosure Text Block [Abstract]  
Lessee, Operating Lease, Disclosure [Table Text Block]
Right to use assets – operating leases are summarized below:


   

May 31,

2020

  

Amount at inception of leases

   $ 2,703,821  

Amount amortized

     (1,300,392

)

Balance – May 31, 2020

   $ 1,403,429  
Lease, Cost [Table Text Block]
Operating lease liabilities are summarized below:


Amount at inception of leases

   $ 2,675,310  

Amount amortized

     (1,202,259

)

Balance – May 31, 2020

   $ 1,473,051  
   

May 31,

2020

  

Warehouses and offices 

   $ 1,473,051  

Lease liability

   $ 1,473,051  

Less: current portion

     (336,900

)

Lease liability, non-current

   $ 1,136,151  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturity analysis under these lease agreements is as follows:


Twelve months ended May 31, 2021

   $ 440,022  

Twelve months ended May 31, 2022

     184,172  

Twelve months ended May 31, 2023

     168,886  

Twelve months ended May 31, 2024

     169,617  

Twelve months ended May 31, 2025

     174,489  

Thereafter

     899,441  

Total

   $ 2,036,627  

Less: Present value discount

     (563,576

)

Lease liability

   $ 1,473,051