Note 4 - Property, Plant and Equipment

9 Months Ended

Feb. 29, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 4. Property, Plant and Equipment

A summary of property, plant and equipment is as follows:

	February 29, 2024			May 31, 2023
Production machinery and equipment	$	67,786,046		$	66,068,625
Plant buildings and land		2,164,232			2,364,089
Leasehold improvements		1,624,513			1,553,138
Furniture and fixtures		542,057			542,057
		72,116,848			70,527,909
Less: Accumulated depreciation and amortization		(41,522,562	)		(37,343,203	)
Net Property, Plant and Equipment	$	30,594,286		$	33,184,706

Production machinery includes deposits on equipment in the amount of $450,454 as of February 29, 2024, which has not been placed into service.  

Depreciation expense, including amortization expense related to financing leases, for the nine months ended February 29(28), 2024 and 2023 was $4,296,383 and $3,954,444, respectively.