Leases (Tables)

12 Months Ended

May 31, 2020

Leases [Abstract]

Schedule of Financing Lease

Financing leases consist of the following as of May 31:

	2020			2019
Non-cancelable financing leases	$	5,455,656		$	6,754,819
Less: Current portion of financing leases		(1,838,251	)		(1,516,629	)
Non-cancelable financing leases, net of current portion	$	3,617,405		$	5,238,190

Schedule of Non-cancelable Financing Leases

The production equipment under the non-cancelable financing leases at May 31, 2020 and 2019 is as follows:

	2020			2019
Production equipment under financing leases	$	8,473,357		$	7,861,233
Less: Accumulated amortization		(1,521,818	)		(614,909	)
Production equipment under financing leases, net	$	6,951,539		$	7,246,324

Schedule of Operating Leases

The outstanding liability for right to use assets under operating leases as of May 31, 2020 and 2019 is as follows:

	2020			2019
Liability under operating leases	$	181,525		$	180,794
Less: Current portion		(74,024	)		(71,763	)
Long-term portion of liability under operating leases	$	107,051		$	109,031

Summary of Lease Activity

For the years ended May 31, 2020 and 2019, a summary of lease activity follows:

	2020			2019
Lease Expense
Financing lease expense -
Amortization of right-of-use assets	$	906,909		$	1,093,761
Interest on lease liabilities		435,593			358,892
Operating lease expense		80,590			51,065
Short-term lease expense		1,595,311			1,600,360
Total	$	3,018,403		$	3,104,078
Other Information
Cash paid for amounts included in the measurement of lease liabilities for finance leases -
Operating cash flows	$	435,593		$	358,892
Financing cash flows	$	1,911,287		$	2,774,543
Cash paid for amounts included in the measurement of lease liabilities for operating leases -
Operating cash flows	$	80,590		$	51,065
Right-of-use assets obtained in exchange for lease liabilities -
Financing leases	$	612,124		$	4,667,380
Operating leases	$	67,750		$	-
Weighted-average remaining lease term (in years) -
Financing leases		3.0			3.9
Operating leases		2.8			3.1
Weighted-average discount rate -
Financing leases		7.4	%		7.5	%
Operating leases		5.2	%		5.2	%

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancelable operating and financing leases as of May 31, 2020, are approximately:

	Operating Leases			Financing Leases
Year ended May 31, 2021	$	81,881		$	2,203,790
Year ended May 31, 2022		61,881			2,102,690
Year ended May 31, 2023		33,881			1,670,293
Year ended May 31, 2024		18,557			98,231
Year ended May 31, 2025		1,291			11,704
Total lease payments		197,491			6,086,708
Less: Imputed interest		(14,966	)		(631,052	)
Present value of minimum lease payments	$	182,525		$	5,455,656