RELATED PARTY TRANSACTIONS	12 Months Ended
May 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Note 7. RELATED PARTY TRANSACTIONS Transactions with Warren F. Kruger, Chairman Yorktown Management & Financial Services, LLC (“Yorktown”), an entity wholly owned by Greystone’s CEO and President, owns and rents to Greystone (1) grinding equipment used to grind raw materials for Greystone’s pallet production and (2) extruders for pelletizing recycled plastic into pellets for resale and for use as raw material for manufacturing pallets. Greystone compensates Yorktown for the use of equipment as discussed below. Rental fees. GSM pays weekly rental fees of $27,500 to Yorktown for grinding equipment and pelletizing equipment. Total rental fees of $1,430,000 were paid in both fiscal years 2022 and 2021. Yorktown provides administrative office space for Greystone in Tulsa, Oklahoma under a one-year lease at a rental rate of $5,200 per month. Total rent expense was $54,000 and $48,000 for fiscal years 2022 and 2021, respectively. Transactions with TriEnda Holdings, L.L.C. TriEnda Holdings, L.L.C. (“TriEnda”) is a manufacturer of plastic pallets, protective packaging and dunnage utilizing thermoform processing of which Warren F. Kruger, Greystone’s President and CEO, is the non-executive chairman of the board of directors of Kruger Family Holdings, LLC (“KFH”), which owns a majority interest in TriEnda. Greystone may purchase pallets from TriEnda for resale or sell Greystone pallets to TriEnda. During fiscal year 2022 and 2021, Greystone purchases from TriEnda totaled $4,222 and $143,589, respectively and sales to TriEnda totaled $126,037 and $123,166, respectively. As of May 31, 2022, TriEnda owed $152,152 to Greystone. Transactions with Green Plastic Pallets Green Plastic Pallets (“Green”) is an entity owned by James Kruger, a brother to Warren Kruger, Greystone’s President and CEO. Green purchased pallets from Greystone totaling $617,100 and $544,636 in fiscal years 2022 and 2021, respectively. As of May 31, 2022, Green owed $99,960 to Greystone.

RELATED PARTY TRANSACTIONS

12 Months Ended

May 31, 2022

Note 7. RELATED PARTY TRANSACTIONS

Transactions with Warren F. Kruger, Chairman

Yorktown Management & Financial Services, LLC (“Yorktown”), an entity wholly owned by Greystone’s CEO and President, owns and rents to Greystone (1) grinding equipment used to grind raw materials for Greystone’s pallet production and (2) extruders for pelletizing recycled plastic into pellets for resale and for use as raw material for manufacturing pallets. Greystone compensates Yorktown for the use of equipment as discussed below.

Rental fees. GSM pays weekly rental fees of $27,500 to Yorktown for grinding equipment and pelletizing equipment. Total rental fees of $1,430,000 were paid in both fiscal years 2022 and 2021.

Yorktown provides administrative office space for Greystone in Tulsa, Oklahoma under a one-year lease at a rental rate of $5,200 per month. Total rent expense was $54,000 and $48,000 for fiscal years 2022 and 2021, respectively.

Transactions with TriEnda Holdings, L.L.C.

TriEnda Holdings, L.L.C. (“TriEnda”) is a manufacturer of plastic pallets, protective packaging and dunnage utilizing thermoform processing of which Warren F. Kruger, Greystone’s President and CEO, is the non-executive chairman of the board of directors of Kruger Family Holdings, LLC (“KFH”), which owns a majority interest in TriEnda. Greystone may purchase pallets from TriEnda for resale or sell Greystone pallets to TriEnda. During fiscal year 2022 and 2021, Greystone purchases from TriEnda totaled $4,222 and $143,589, respectively and sales to TriEnda totaled $126,037 and $123,166, respectively. As of May 31, 2022, TriEnda owed $152,152 to Greystone.

Transactions with Green Plastic Pallets

Green Plastic Pallets (“Green”) is an entity owned by James Kruger, a brother to Warren Kruger, Greystone’s President and CEO. Green purchased pallets from Greystone totaling $617,100 and $544,636 in fiscal years 2022 and 2021, respectively. As of May 31, 2022, Green owed $99,960 to Greystone.