XML 14 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED BALANCE SHEETS - USD ($)
May 31, 2022
May 31, 2021
Current Assets:    
Cash and cash equivalents $ 5,916,983 $ 4,199,311
Accounts receivable, less allowance for doubtful accounts of $153,231 and $837,415 as of May 31, 2022 and 2021, respectively 773,818 1,455,051
Inventories, net 2,416,447 3,206,255
Prepaid expenses and other 320,283 370,290
Total current assets 9,427,531 9,230,907
Property and equipment, net of accumulated depreciation and amortization of $1,305,360 and $1,972,357 as of May 31, 2022 and 2021, respectively 214,487 310,520
Right of use assets, net of accumulated amortization of $724,802 and $469,077 as of May 31, 2022 and 2021, respectively 1,301,834 1,553,081
Investments 165,324 165,324
Intangible assets, net of accumulated amortization of $18,994 and $126,769 as of May 31, 2022 and 2021, respectively 169,516 294,830
Other assets 95,588 264,151
Total Assets 11,374,280 11,818,813
Current Liabilities:    
Accounts payable and accrued expenses 972,372 583,380
Accrued compensation 646,944 388,896
Advance from customers 50,670
Lease liability, current portion 341,296 327,944
Total current liabilities 2,011,282 1,300,220
Lease liability, net of current portion 1,038,284 1,291,570
Total Liabilities 3,049,566 2,591,790
Commitments and contingencies (Notes 6 and 9)
Shareholders' Equity:    
Preferred stock, Series A 5% convertible, $0.08 par value, 571,429 shares authorized, none issued and outstanding as of May 31, 2022 and 2021
Preferred stock, undesignated, no par value, 4,428,571 shares authorized, none issued and outstanding as of May 31, 2022 and 2021
Common stock, $0.08 par value, 25,000,000 shares authorized, 12,867,924 and 12,307,157 issued and outstanding at May 31, 2022 and 2021, respectively 1,029,432 984,571
Additional paid-in-capital 42,446,597 38,836,743
Accumulated other comprehensive loss (73,936) (47,956)
Accumulated deficit (35,077,379) (30,546,335)
Total Shareholders' Equity 8,324,714 9,227,023
Total Liabilities and Shareholders' Equity 11,374,280 11,818,813
5% Convertible Preferred Stock [Member] | Series A Preferred Stock [Member]    
Shareholders' Equity:    
Preferred stock, Series A 5% convertible, $0.08 par value, 571,429 shares authorized, none issued and outstanding as of May 31, 2022 and 2021
Preferred stock, undesignated, no par value, 4,428,571 shares authorized, none issued and outstanding as of May 31, 2022 and 2021