Annual report pursuant to Section 13 and 15(d)

PREPAID EXPENSES AND OTHER CURRENT ASSETS

v3.23.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS
 12 Months Ended
May 31, 2023
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, 2023 and 2022:

 

   

May 31,

    

May 31,

  
   

2023

    

2022

  

Deposits

   $ -       2,016  

Prepaid expenses

     147,953       293,853  

Employee receivable

     1,000       -  

Total

   $ 148,953     $ 295,869  

 

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.