Operating Lease

6 Months Ended

Nov. 30, 2024

Operating Lease

Operating Lease

Note 19. Operating Lease

The Company has operating leases for its office facilities and warehouse. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term.

The following table provides a summary of leases as of November 30, 2024 and May 31, 2024:

Assets/liabilities	Classification	November 30, 2024 $		May 31, 2024 $
Assets
Operating lease right-of-use assets	Operating lease assets		46,264		72,178
Liabilities
Current
Operating lease liabilities – current	Current operating lease liabilities		46,501		61,640
Long-term
Operating lease liabilities – net of current portion	Long-term operating lease liabilities		-		10,809
Total lease liabilities			46,501		72,449

The operating lease expense for the six months ended November 30, 2024 and 2023 were as follows:

		Six Months Ended
Lease cost	Classification	November 30, 2024		November 30, 2023
		$		$
Operating lease cost	General and administrative expenses		40,287		31,907

Maturities of operating lease liabilities as of November 30, 2024 were as follows:

Maturity of Lease Liabilities	Operating Leases $
Remaining of 2025		47,005
2026		315
2027		-
Total lease payments		47,320
Less: interest		(819	)
Present value of lease payments		46,501

Maturities of operating lease liabilities as of May 31, 2024, were as follows:

Maturity of Lease Liabilities	Operating Leases $
Remaining of 2025		63,675
2026		10,881
2027		-
Total lease payments		74,556
Less: interest		(2,107	)
Present value of lease payments		72,449

Supplemental information related to operating leases was as follows:

	Three Months Ended
	November 30, 2024			November 30, 2023
	$			$
Cash paid for amounts included in the measurement of lease liabilities		18,540			19,323
Weighted average remaining lease term		0.71 year			0.86 year
Weighted average discount rate		4.75	%		4.75	%

Amortization expenses were $40,287 and $31,907 for the six months ended November 30, 2024 and 2023, respectively.