Note 5 - Long-term Debt (Tables)

12 Months Ended

May 31, 2024

Notes Tables

Schedule of Long-Term Debt Instruments [Table Text Block]

	2024			2023
Term loan A dated July 29, 2022, payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.50%, maturing July 29, 2027	$	6,171,416		$	7,065,283
Term loan B dated July 29, 2022, payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.50%, maturing July 29, 2027		6,348,085			7,269,453
Revolving loan payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 7.50%, due February 5, 2026.		-			1,500,000
Term loan payable to First Interstate Bank, interest rate of 3.7%, monthly principal and interest payments of $27,593, due March 19, 2025, secured by certain equipment		271,061			585,536
Term loan payable to First Interstate Bank, interest rate of 3.5%, monthly principal and interest payments of $5,997, due August 10, 2028, secured by land and buildings		709,916			759,639
Other		33,964			73,368
Face value of long-term debt		13,534,442			17,253,279
Less: Debt issuance costs, net of amortization		(91,494	)		(84,022	)
		13,442,948			17,169,257
Less: Current portion of long-term debt		(2,362,212	)		(2,249,570	)
Long-term debt	$	11,080,736		$	14,919,687