Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.22.4
Property, Plant and Equipment
 6 Months Ended
Nov. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 8 – Property, Plant and Equipment

 

Property, plant and equipment consisted of the following at November 30, 2022 and May 31, 2022:

 

   

November 30,

2022

    

May 31,

2022

  

Office equipment

   $ 136,476     $ 132,859  

Furniture and fixtures

     148,358       148,358  

Machinery & Equipment

     2,557,078       2,447,715  

Leasehold improvements

     3,712,447       3,686,951  

Less: accumulated depreciation

     (2,493,182

)

     (2,073,449

)

Property, plant, and equipment, net

   $ 4,061,177     $ 4,342,434  

 

The Company made payments in the amounts of $138,476 and $145,015 for property and equipment during the six months ended November 30, 2022 and May 31, 2022, respectively.

 

Depreciation expense totaled $211,543 and $150,428 for the three months ended November 30, 2022 and 2021, respectively. Depreciation expense totaled $419,733 and $298,306 for the six months ended November 30, 2022 and 2021, respectively.