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Consolidated Balance Sheets - USD ($)
May 31, 2024
May 31, 2023
Current Assets:    
Cash and cash equivalents $ 4,170,000 $ 9,719,000
Accounts receivable, net 947,000 722,000
Inventories, net 2,376,000 2,056,000
Prepaid expenses and other 238,000 300,000
Total current assets 7,731,000 12,797,000
Property and equipment, net of accumulated depreciation and amortization 201,000 213,000
Right-of-use assets, net of accumulated amortization of $910,000 and $617,000 as of May 31, 2024 and 2023, respectively 742,000 1,035,000
Investments 165,000 165,000
Intangible assets, net of accumulated amortization of $48,000 and $30,000 as of May 31, 2024 and 2023, respectively 212,000 165,000
Other assets 203,000 79,000
Total Assets 9,254,000 14,454,000
Current Liabilities:    
Accounts payable and accrued expenses 1,138,000 892,000
Accrued compensation 655,000 696,000
Advances from customers 85,000 60,000
Lease liabilities, current portion 326,000 297,000
Total current liabilities 2,204,000 1,945,000
Lease liabilities, net of current portion 459,000 785,000
Total Liabilities 2,663,000 2,730,000
Commitments and contingencies (Note 9)
Shareholders’ Equity:    
Preferred stock, undesignated, no par value, 4,428,571 shares authorized, none issued and outstanding as of May 31, 2024 and 2023
Common stock, $0.08 par value, 25,000,000 shares authorized, 16,821,646 issued and outstanding at May 31, 2024 and 2023, respectively 1,346,000 1,346,000
Additional paid-in capital 53,542,000 52,705,000
Accumulated other comprehensive loss (102,000) (110,000)
Accumulated deficit (48,195,000) (42,217,000)
Total Shareholders’ Equity 6,591,000 11,724,000
Total Liabilities and Shareholders’ Equity 9,254,000 14,454,000
Series A Preferred Stock [Member]    
Shareholders’ Equity:    
Preferred stock, undesignated, no par value, 4,428,571 shares authorized, none issued and outstanding as of May 31, 2024 and 2023