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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 2,032,231 $ 1,091,984
Adjustments to reconcile net income to net cash provided by operating activities -    
Depreciation and amortization 3,021,502 2,560,516
Deferred tax expense 911,000 320,000
Decrease in trade accounts receivable 2,584,492 1,929,597
Increase in related party receivables (43,109) (53,514)
Decrease (increase) in inventory 973,259 (1,072,000)
Decrease (increase) in prepaid expenses (69,061) 139,168
Increase (decrease) in accounts payable and accrued liabilities (1,217,243) 687,310
Decrease in deferred revenue (2,390,160) (686,572)
Net cash provided by operating activities 5,802,911 4,916,489
Cash Flows from Investing Activities:    
Purchase of property and equipment (1,290,604) (2,018,815)
Cash Flows from Financing Activities:    
Proceeds from long-term debt 672,000
Payments on long-term debt and financing leases (2,429,656) (2,390,138)
Proceeds from revolving loan 1,250,000 690,000
Payments on revolving loan (2,690,000) (972,000)
Payments on related party note payable and financing lease (751,821) (222,384)
Payments for debt issuance costs (3,360)
Dividends paid on preferred stock (166,028) (224,555)
Distributions paid by non-controlling interest (104,400) (121,800)
Net cash used in financing activities (4,891,905) (2,572,237)
Net Increase (Decrease) in Cash (379,598) 325,437
Cash, beginning of period 1,131,850 1,255,408
Cash, end of period 752,252 1,580,845
Non-cash Activities:    
Capital expenditures in accounts payable 282,540 507,851
Equipment transferred from inventory 26,750
Preferred dividend accrual 81,918 102,637
Supplemental information:    
Interest paid $ 632,488 $ 913,992