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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Feb. 28, 2025
Feb. 29, 2024
Feb. 28, 2025
Feb. 29, 2024
Sales $ 14,315,798 $ 13,980,009 $ 39,911,692 $ 46,990,716
Cost of Sales 11,577,980 12,113,699 33,890,446 37,942,179
Gross Profit 2,737,818 1,866,310 6,021,246 9,048,537
Selling, General and Administrative Expenses 1,374,914 1,277,001 4,556,062 3,863,975
Gain on involuntary conversion (see Note 4)     (741,821) 0
Operating Income 1,362,904 589,309 2,207,005 5,184,562
Other Income (Expense):        
Other Income 45,486 176,851 115,956 180,004
Interest Expense (248,705) (310,231) (818,786) (982,592)
Income before Income Taxes 1,159,685 455,929 1,504,175 4,381,974
Provision for Income Taxes (194,020) (158,000) (407,770) (1,375,000)
Net Income 965,665 297,929 1,096,405 3,006,974
Preferred Dividends (115,798) (146,473) (404,463) (439,144)
Net Income (Loss) Attributable to Common Stockholders 849,867 151,456 691,942 2,567,830
Preferred Dividends $ 115,798 $ 146,473 $ 404,463 $ 439,144
Net Income Per Share of Common Stock -        
Basic (in dollars per share) $ 0.03 $ 0.01 $ 0.02 $ 0.09
Diluted (in dollars per share) $ 0.03 $ 0.01 $ 0.02 $ 0.09
Weighted Average Shares of Common Stock Outstanding        
Basic (in shares) 28,097,494 28,279,701 28,220,051 28,279,701
Diluted (in shares) 28,592,593 28,775,156 28,715,943 28,774,701
Sales $ 14,315,798 $ 13,980,009 $ 39,911,692 $ 46,990,716
Cost of Sales 11,577,980 12,113,699 33,890,446 37,942,179
Gross Profit 2,737,818 1,866,310 6,021,246 9,048,537
Selling, General and Administrative Expenses 1,374,914 1,277,001 4,556,062 3,863,975
Operating Income $ 1,362,904 $ 589,309 $ 2,207,005 $ 5,184,562