CLS Holdings USA, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Accounting Policies, by Policy (Policies)
Notes Tables
Notes Details

Right to Use Assets and Liabilities ??? Operating Leases (Tables)

v3.21.2

Right to Use Assets and Liabilities – Operating Leases (Tables)

3 Months Ended

Aug. 31, 2021

Disclosure Text Block [Abstract]

Lessee, Operating Lease, Disclosure [Table Text Block]

Right to use assets – operating leases are summarized below:

	August 31, 2021
Amount at inception of leases	$	3,891,437
Amount amortized		(1,711,691	)
Balance – August 31, 2021	$	2,179,746

Lease, Cost [Table Text Block]

Operating lease liabilities are summarized below:

Amount at inception of leases	$	3,848,037
Amount amortized		(1,642,686	)
Balance – August 31, 2021	$	2,205,351

Warehouse and offices	$	2,196,205
Office equipment		9,146
Balance – August 31, 2021	$	2,205,351


Lease liability	$	2,205,351
Less: current portion		(295,598	)
Lease liability, non-current	$	1,909,753

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturity analysis under these lease agreements is as follows:

Twelve months ended August 31, 2022	$	459,735
Twelve months ended August 31, 2023		450,586
Twelve months ended August 31, 2024		463,818
Twelve months ended August 31, 2025		477,445
Twelve months ended August 31, 2026		334,797
Thereafter		674,094
Total	$	2,860,475
Less: Present value discount		(655,124	)
Lease liability	$	2,205,351

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

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