Note 8 - Deferred Revenue

3 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Deferred Revenue [Text Block]

Note 8. Deferred Revenue

Advances from customers pursuant to a contract for the sale of plastic pallets is recognized as deferred revenue. Revenue is recognized by Greystone as pallets are shipped to the customer which totaled $-0- and $5,015,520 during the three months ended August 31, 2023 and 2022, respectively. The unrecognized balance of deferred revenue as of August 31, 2023 and May 31, 2023, was $23,007.