Debt (Tables)

9 Months Ended

Feb. 28, 2017

Debt Disclosure [Abstract]

Schedule of Debt

Debt as of February 28, 2017 and May 31, 2016 is as follows:

	February 28, 2017			May 31, 2016
Term note A payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, maturing January 7, 2019	$	4,797,299		$	5,310,179
Term note B payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, maturing January 7, 2019		1,962,157			2,688,659
Revolving note payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, due January 31, 2019		1,900,000			1,675,000
Term note payable by GRE to International Bank of Commerce, interest rate of 4.5%, monthly principal and interest payments of $26,215, due January 31, 2019		2,886,906			3,021,734
Note payable to First Bank, prime rate of interest plus 1.45% but not less than 4.95%, monthly principal and interest payments of $30,628, due August 21, 2021, secured by equipment		1,469,713			-
Capital lease with a private pallet leasing company, interest rate of 5%, maturity of August 7, 2019		4,380,410			-
Note payable to Robert Rosene, 7.5% interest, due January 15, 2019		4,498,383			2,066,000
Note payable to Yorktown Management & Financial Services, LLC, 5% interest, due February 28, 2019, monthly principal and interest payments of $20,629		470,212			634,616
Other		316,970			50,560
Face value of long-term debt		22,682,050			15,446,748
Debt issue costs, net of amortization		(269,727	)		(69,185	)
		22,412,323			15,377,563
Less: Current portion		(4,629,186	)		(2,088,327	)
Long-term debt	$	17,783,137		$	13,289,236