SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

May 31, 2022

Accounting Policies [Abstract]

SCHEDULE OF USEFUL LIFE OF PROPERTY, PLANT AND EQUIPMENT

Greystone’s property, plant and equipment is stated at cost. Depreciation expense is computed using the straight-line method over the estimated useful lives, as follows:

Plant buildings	39 years
Production machinery and equipment	5-12 years
Leasehold improvements	5-7 years
Furniture & fixtures	3-5 years

SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE

Basic and diluted earnings per share of common stock for the years ending May 31, are as follows:

	2022		2021
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	3,938,478	$	3,030,165
Denominator -
Weighted-average common shares outstanding		28,423,721		28,361,201
Income per share of common stock - Basic	$	0.14	$	0.11
Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	3,938,478	$	3,030,165
Add: Preferred stock dividends due to assumed conversion		328,459		323,219
Net income allocated to common stockholders	$	4,266,937	$	3,353,384
Denominator -
Weighted-average common shares outstanding-basic		28,423,721		28,361,201
Incremental common shares from assumed conversion of warrants, options and preferred stock, as appropriate		3,828,711		4,003,741
Diluted weighted average common stock outstanding		32,252,432		32,364,942
Income per share of common stock - Diluted	$	0.13	$	0.10