Annual report pursuant to Section 13 and 15(d)

PREPAID EXPENSES AND OTHER CURRENT ASSETS

v3.22.2.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS
 12 Months Ended
May 31, 2022
Disclosure Text Block Supplement [Abstract]  
Other Assets Disclosure [Text Block]

NOTE 7 – PREPAID EXPENSES AND OTHER CURRENT ASSETS

 

Prepaid expenses and other current assets consisted of the following at May 31, 2022 and 2021:

 

   

May 31,

    

May 31,

  
   

2022

    

2021

  

Deposits

   $ 2,016       2,244  

Prepaid expenses

     293,853       250,069  

Other receivables

     -       10,000  

Total

   $ 295,869     $ 262,313  

 

Deposits consist of amounts paid in advance for the acquisition of property and equipment. Prepaid expenses consist primarily of annual license fees charged by the State of Nevada; these fees are paid in advance, and amortized over the one-year term of the licenses.